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

  • #2,101
  • Jul 31, 2007 2:45pm Jul 31, 2007 2:45pm
Quoting digitizer123
I agree - my chart just updated in the last few minutes and If it drops further from this level - suppot looks like @ 240 ish instead of 240.50
That is even better I would say, but it seems to be hapening faster than expected, is anyone going short?
  • #2,102
  • Jul 31, 2007 2:46pm Jul 31, 2007 2:46pm
Since Auslanco is taking a break. Here is how I would intrepret his charts. Remember, we are looking for a sync of the daily & 4h, then enter on the 1h:

  1. Daily: Still in bear mode. Ret today to 5 sma around 242.88 and is heading south. Momentum pointing down, SI below 50 & no cross. Macd & ADX are still strengthening bear.
  2. 4H: MACD moved to bull 28 hrs ago. SI shows bull but hasn't confirmed by crossing 50. Momentum is pointing down but the other indicators are showing a weak bear. The bars are straddling the 5 SMA.

Conclusion: more ranging market to come, good for scalps, bad for trend trades. This is confirmed by above average volume in the last 3 bars on 4h.

Comments/corrections welcome.

  • #2,103
  • Jul 31, 2007 2:46pm Jul 31, 2007 2:46pm
breaking the trend line guys up 60 pips awesome day
  • #2,104
  • Jul 31, 2007 2:49pm Jul 31, 2007 2:49pm
Quoting karmostaji
Yep, but if we zoom out the chart, the 2 trendlines cross each other so therefore its called a wedge, if they don't cross each other.. it's called 'channel'

Thank u man!!!
  • #2,105
  • Jul 31, 2007 2:49pm Jul 31, 2007 2:49pm
dropping like it's hot !!!
  • #2,106
  • Jul 31, 2007 2:50pm Jul 31, 2007 2:50pm
Quoting smjones
It is unlikely the carry will completely unwind as long as there are favorable interest rate differences between currencies... Money always will flow to where it is treated best.

You are absolutley correct. At Given the current situation, I think that everyone is just nervous and want to minimize losses / maximize profits....what do you think?
Humble Lifetime Member
  • #2,107
  • Jul 31, 2007 2:51pm Jul 31, 2007 2:51pm
bulls are back....
its just money
  • #2,108
  • Jul 31, 2007 2:51pm Jul 31, 2007 2:51pm
to much stalling gotta leave exited +55 pip good stuff
  • #2,109
  • Jul 31, 2007 2:51pm Jul 31, 2007 2:51pm
Just hit my SL,so i'll stay aside,because 1H is already bearish and as i see 4H is turning into bearish too.Correct me if i'm wrong!!!
  • #2,110
  • Jul 31, 2007 2:54pm Jul 31, 2007 2:54pm
Quoting btran28
dropping like it's hot !!!
R U sure its going to continue down?
Attached Image
  • #2,111
  • Jul 31, 2007 2:54pm Jul 31, 2007 2:54pm
Quoting Ash
You are absolutley correct. At Given the current situation, I think that everyone is just nervous and want to minimize losses / maximize profits....what do you think?
I don't usually do this prediction stuff. I am much better at postdiction LOL

but, because I have my Magic 8 ball handy. it is saying price will bouce up from 240.15...

I could be wrong.. I did not pay my fortune teller's association dues this month.. So we will see... LOL
  • #2,112
  • Jul 31, 2007 2:55pm Jul 31, 2007 2:55pm
Quoting de123
bulls are back....


Running down south?
Humble Lifetime Member
  • #2,113
  • Jul 31, 2007 2:55pm Jul 31, 2007 2:55pm
Quoting ovidiu
That is even better I would say, but it seems to be hapening faster than expected, is anyone going short?

You are right - tto fast, my guess is DOW impact - I would not be going short here - I personally think it will go down and retest the bottom - it has gone up tto fast over the past few days - a lot of money is staying aside to go long but that won't happen untill it sells off -

Please don't trade based on py openion - I am no Auslanco -
  • #2,114
  • Jul 31, 2007 2:56pm Jul 31, 2007 2:56pm
Quoting smjones
I don't usually do this prediction stuff. I am much better at postdiction LOL

but, because I have my Magic 8 ball handy. it is saying price will bouce up from 240.15...

I could be wrong.. I did not pay my fortune teller's association dues this month.. So we will see... LOL
Thanks for your input! It means a lot coming form a senior/ experienced member.
Humble Lifetime Member
  • #2,115
  • Jul 31, 2007 2:56pm Jul 31, 2007 2:56pm
This pair moves like the wind. If you get caught going short and it bounces there is no guarantee that it will come back and bail you out..However if you are long and it plunges do not get excited it will come back and you will be profitable...There are always buyers at support...there is too much money to be made in interest in this pair.... The carry trade is alive and well Don't believe everything you read about this being the big UNWIND I say hogwash to that.Where is the bottom I don't know But I will start getting revved up around 237-235 or below but I don't know how far below The lower the better
  • #2,116
  • Jul 31, 2007 2:57pm Jul 31, 2007 2:57pm
Quoting Al_Have1
R U sure its going to continue down?

Dude no one is sure about anything . . . . . there is no sure, no definite, only probability . . . . what is more likely to happen
  • #2,117
  • Jul 31, 2007 2:58pm Jul 31, 2007 2:58pm
omg im getting ready to jump back in if this thing retraces
  • #2,118
  • Jul 31, 2007 2:59pm Jul 31, 2007 2:59pm
For mt4 users

TSI indicator is based on the book:
Momentum, Direction, and Divergence, William Blau, series editor Perry J. Kaufman
and
StochasticRSI

GL and many pips
Val144
Attached File(s)
File Type: mq4 Stochastic RSI.mq4   3 KB | 501 downloads
File Type: mq4 TSI.mq4   3 KB | 554 downloads
It’s just emotions & money
  • #2,119
  • Jul 31, 2007 3:03pm Jul 31, 2007 3:03pm
Quoting digitizer123
Dude no one is sure about anything . . . . . there is no sure, no definite, only probability . . . . what is more likely to happen
Well, it blew through my trendline. But what are you basing the probability on? It will probably bounce on the 50 fib. But, my charts show a lot of uncertainty and ranging. I am not in a trade right now but I might grab a scalp or two until a trend is confirmed.
  • #2,120
  • Jul 31, 2007 3:06pm Jul 31, 2007 3:06pm
BTW, the last bar closed the SI below 50 on the 1H. So, I will be waiting for a ret to 5 SMA to enter a short.
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