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Attachments: Auslanco - GBP/JPY and GBP/USD (newstrade)
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Auslanco - GBP/JPY and GBP/USD (newstrade)

Quoting Se[V]eN

huhu... time for short?

I see the 1hr overbought as you do. But Auslanco is teaching us to look at the big picture.

  1. Daily is still bearish
  2. 4h Macd is starting to cross into bull territory (may be confirmed at the end of the current bar) with up momentum.

So, if I am being a good student, I should wait for a 4 hr ret to the 5SMA and then look for a bear to bull turn on the 1hr to go long. TP=+300 since daily is still bear. If daily=bull, TP=+500?

Do I have that right? Any comments appreciated.

Quoting markam
It should trace back to the 240.65 area. If it continues down, we might be back into a bearish period.




about an hours for comfirmation
"Analysis Is Hard But Trade Is Easy"

im aware of that...and thx for reminding...but sitting in front the market without doin anything is like pain in the a**...so im looking for very little scalp

Quoting Al_Have1
I see the 1hr overbought as you do. But Auslanco is teaching us to look at the big picture.

Quoting Al_Have1

  1. Daily is still bearish
  2. 4h Macd is starting to cross into bull territory (may be confirmed at the end of the current bar) with up momentum.

So, if I am being a good student, I should wait for a 4 hr ret to the 5SMA and then look for a bear to bull turn on the 1hr to go long. TP=+300 since daily is still bear. If daily=bull, TP=+500?

Do I have that right? Any comments appreciated.

"Analysis Is Hard But Trade Is Easy"
Quoting Al_Have1
I see the 1hr overbought as you do. But Auslanco is teaching us to look at the big picture.

  1. Daily is still bearish
  2. 4h Macd is starting to cross into bull territory (may be confirmed at the end of the current bar) with up momentum.

So, if I am being a good student, I should wait for a 4 hr ret to the 5SMA and then look for a bear to bull turn on the 1hr to go long. TP=+300 since daily is still bear. If daily=bull, TP=+500?

Do I have that right? Any comments appreciated.


I read today as both the 1 hour and 4 hour turned bullish last night/this morning. We went up 200 pips, as A indicated we would (200-300 was his experience). We are now retracing back to the 1 hour moving average (240.65). We then have to see what the 1 and 4 hour charts do to determine if we are going up or down.
Quoting karmostaji
I don't know about these indicators but based on my strategy, expecting it to go up to 119.45, 119.65 and if these are broken then 120.30 area
Thank you very much....
  •  emda
  • | Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
i think there is still another bears last run.... then will be time to go long.... maybe for tomorrow london session breakout.
Quoting emda
i think there is still another bears last run.... then will be time to go long.... maybe for tomorrow london session breakout.
There will be more than one. The uptick in the stockmarket will be extremely short. If tomorrows economic reports are bad, you are liable to see a big crash.
Just to help out here is an indicator I use for my fibs.

Download them both to you mt4 indicators file.

kevin
Attached File(s)
File Type: ex4 FiboRetracement3.ex4   17 KB | 313 downloads
File Type: mq4 FiboRetracement3.mq4   16 KB | 353 downloads
Quoting markam
I read today as both the 1 hour and 4 hour turned bullish last night/this morning. We went up 200 pips, as A indicated we would (200-300 was his experience). We are now retracing back to the 1 hour moving average (240.65). We then have to see what the 1 and 4 hour charts do to determine if we are going up or down.
Makes sense. I missed the bullish Strength Indicator this morning. Thank you.

we are near breakout...where are everybody?

"Analysis Is Hard But Trade Is Easy"
just broke 23.6 retracement. ripe for a long? solid break of the retracement
Quoting sdot
just broke 23.6 retracement. ripe for a long? solid break of the retracement
Long 241.10 T/P 242.50
Long at 241.30
The momemtum and the RSI on the Daily chart have both turned bullish. MACD still appears bearish but the 1H and 4H charts have it turning up. It seems possible that we could see a retracement to at least the 38 Fib level which is just above 243. Not sure beyond that because the Monthly Momentum and RSI are pointing down and it appears that over the next several months GBP/JPY could go on a big bear run. I know, I know, the carry trades. But something beyond that caused this pair to fall like crazy in 1980, 1990 and 1998, though I was not able to find what the interest rates for GBP or JPY were back in those years. Any other thoughts anyone?

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.jpg Size: 53 KB

im too scared for long due to 1 hour over bought...anybody long?

"Analysis Is Hard But Trade Is Easy"
I can't see it breaking out now. More likely a quick retrace any minute.
  •  emda
  • | Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
Quoting Se[V]eN

im too scared for long due to 1 hour over bought...anybody long?

me too... I'll wait for a little retrace down.. then will be long for the 38.2 big retracement... then short....

agreed...if it really bullish trend then i will wait for cooldown

Quoting markam
I can't see it breaking out now. More likely a quick retrace any minute.

"Analysis Is Hard But Trade Is Easy"
  •  emda
  • | Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
and if it goes directly to 38.2 without retrace... more reason to short there at the exact level...
  •  emda
  • | Joined Apr 2007 | Status: RCMM (Risk Analysis Money Manager) | 2,556 Posts
mmmmm i just realized..... it can go to 242.40 before the down... is top of the channel up of yesterday... and also the 5 SMA daily.
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