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

  • #3,801
  • Aug 6, 2007 12:42am Aug 6, 2007 12:42am
On the 1 hour chart, I show some retracement confluence at about the 240.87 level. There's the 38.2 fib line from the weekly fibs and the 50 fib line from the last swing hi and swing lo from friday to today. Also, the 21 day SMA crosses just above that point. Let's see if it hits some resistance there.
  • #3,802
  • Aug 6, 2007 12:42am Aug 6, 2007 12:42am
Quoting auslanco
1hr Strength Indicator turned upwards
4hr still bearish.

Interpretation: Pair has stepped in to a ranging area. The price will retrace to Friday close since the 1hr turned bull. If we see the 1hr touch 50 line and turn downward again(providing the 4hr still bearish) we can shoot for 300 pip profit on a short signal. However it may take awhile before the pair finds a clear direction to go.
That is right, so is my profile says (profile is not technical indicator related).
Couple of hours to wait, although higher price to short.
  • #3,803
  • Aug 6, 2007 12:44am Aug 6, 2007 12:44am
Quoting ovidiu
if for larger moves you use daily 4H and 1H, for smaller ones like a retracement you use 1H 30 min and 10 min, with the same logic behind?
I usually don't do the shorter time frames. The reason I went Long just now was .... only to catch the weekend gap. I was waiting for the 1hr to turn bull to catch the small retracement trade.
  • #3,804
  • Aug 6, 2007 12:54am Aug 6, 2007 12:54am
Quoting sunarto.sun
Don't you think it will go up until 240.95 (61.8 fibo) before going downward ?
Unless the news release is really negative for GBP.. this retracement will easily reach the 241 area.
  • #3,805
  • Aug 6, 2007 1:08am Aug 6, 2007 1:08am
I closed my Long position... @ 240.45. News may push the GBP/JPY down

This news release could be bad for GBP.
  • #3,806
  • Aug 6, 2007 1:12am Aug 6, 2007 1:12am
Ok I may go short 40% of my lots if the 30 min strength Indicator turns downwards after the news. 10 mins have turned bearish already.
  • #3,807
  • Aug 6, 2007 1:17am Aug 6, 2007 1:17am
auslanco, do you have GBPUSD and USDJPY in consideration also to trade GBPJPY? or only look at the GBPJPY chart with those indicators?
  • #3,808
  • Aug 6, 2007 1:21am Aug 6, 2007 1:21am
[quote=emda;1524980]auslanco, do you have GBPUSD and USDJPY in consideration also to trade GBPJPY? or only look at the GBPJPY chart with those indicators?[/quote

i think auslanco have mention that he's a indicator trader...he trade according to his indicator
  • #3,809
  • Aug 6, 2007 1:22am Aug 6, 2007 1:22am
Quoting emda
auslanco, do you have GBPUSD and USDJPY in consideration also to trade GBPJPY? or only look at the GBPJPY chart with those indicators?
I mainly take GBP/USD into consideration... also USD/JPY and Eur/JPY to some extent.
  • #3,810
  • Aug 6, 2007 1:25am Aug 6, 2007 1:25am
Quoting sypultraz

i think auslanco have mention that he's a indicator trader...he trade according to his indicator
I look at the GBP/USD strength indicator and compare them with GBP/JPY.
  • #3,811
  • Aug 6, 2007 1:30am Aug 6, 2007 1:30am
Man i hate it when the reports come out exactly as estimated!
  • #3,812
  • Aug 6, 2007 1:31am Aug 6, 2007 1:31am
*(uk) June Industrial Production: M/m 0.1% V 0.1%e; Y/y 0.8% V 0.8%e
*(uk) June Manufacturing Production: M/m 0.2% V 0.2%e; Y/y 0.9% V 1.0%e
  • #3,813
  • Aug 6, 2007 1:33am Aug 6, 2007 1:33am
Came out as predected. Thus it was already accounted for in price. My positions are still open.
Que
  • #3,814
  • Aug 6, 2007 1:35am Aug 6, 2007 1:35am
still on short position....
  • #3,815
  • Aug 6, 2007 1:38am Aug 6, 2007 1:38am
Quoting silvertrader
still on short position....
If that was a question, then no. I am still waiting for gap to close.
Que
  • #3,816
  • Aug 6, 2007 1:38am Aug 6, 2007 1:38am
Quoting auslanco
Unless the news release is really negative for GBP.. this retracement will easily reach the 241 area.

Looks like it still may close the gap back up to the 240.90 area!
  • #3,817
  • Aug 6, 2007 1:43am Aug 6, 2007 1:43am
Quoting fourxtrader
Looks like it still may close the gap back up to the 240.90 area!

yehh.. it will .. may go up to 241.50 area. But I'm going to stay out of this ranging market. I only want to go short.. when 30 mins or 1hr turns bearish.. so I'm out
  • #3,818
  • Aug 6, 2007 1:44am Aug 6, 2007 1:44am
Quoting Que
If that was a question, then no. I am still waiting for gap to close.
Gap has been closed, you don't know?
  • #3,819
  • Aug 6, 2007 2:00am Aug 6, 2007 2:00am
Auslanco dont talk and reply to guys like Angler, they were calling you scammer when you were missing for two days.
  • #3,820
  • Aug 6, 2007 2:02am Aug 6, 2007 2:02am
Quoting Orient_mist
Auslanco dont talk and reply to guys like Angler, they were calling you scammer when you were missing for two days.
LOL... Thanks for the tip brother
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