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

  • #4,081
  • Aug 6, 2007 1:03pm Aug 6, 2007 1:03pm
If bottom red lines hold we may see a rise toward thick red,blue and green lines
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  • #4,082
  • Aug 6, 2007 1:04pm Aug 6, 2007 1:04pm
Quoting ovidiu
and also DOW came to it's senses,, it could form a nice head and shoulders, we just have to wait
What's this "head and shoulders mean"???
Does it mean that once the head and shoulders has fully formed that the pound will go down against the YEN or Up?

THanks
  • #4,083
  • Aug 6, 2007 1:09pm Aug 6, 2007 1:09pm
Hoping the 38.2 Fibo area around 239.60 doesn't act as support. It didn't hold at all the first two times it was tested. It should blow right through once momentum picks up a bit more, especially on the 1H.

M2B
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  • #4,084
  • Aug 6, 2007 1:09pm Aug 6, 2007 1:09pm
Quoting ovidiu
I also hope I am right, and 10 min and 30 they start looking better and better
You may already know this but shorter time frames are going to give you shorter moves. Good for scalps (25-50 pips). If you are looking for that 300 pip move, use the 4h & 1h.
  • #4,085
  • Aug 6, 2007 1:14pm Aug 6, 2007 1:14pm
Quoting Blah Blah
What's this "head and shoulders mean"???
Does it mean that once the head and shoulders has fully formed that the pound will go down against the YEN or Up?

THanks
It's a reversal formation pattern.

Take a look back thru the thread there are many links to basic chart reading techniques and patterns.

However.. remember.. none of them provide sure things.. they are just pointers that need to be confirmed..

Think about it in terms of what people are doing.. .. they are all like us.. they want the price to go one way or the other.. if it tries a few times and doesn't make it.. they lose heart.. so it goes back the other way..


But then again.. maybe it is all more complicated than that..
  • #4,086
  • Aug 6, 2007 1:16pm Aug 6, 2007 1:16pm
Quoting Poocher
Not me so keep saying it!...I promise not to complain.

Trading really does bring you face to face with deep unconscious stuff you have little control over...like a lack of patience!
That is so true. Something I did learn a few years ago was that we end up loosing when we become impatient (monetary, emotionally, etc). When trading, we have to leave everything behind (emotions, problems, etc) and trade with a clear head. It is only until then do we succeed.
Humble Lifetime Member
  • #4,087
  • Aug 6, 2007 1:36pm Aug 6, 2007 1:36pm
Quoting Al_Have1
You may already know this but shorter time frames are going to give you shorter moves. Good for scalps (25-50 pips). If you are looking for that 300 pip move, use the 4h & 1h.
Yes I was hoping tha they will confirm the H4 and daily trends and also I was saying that we have a temporaly high, but again the DOW is making me look bad:
  • #4,088
  • Aug 6, 2007 1:48pm Aug 6, 2007 1:48pm
Quoting ovidiu
Yes I was hoping tha they will confirm the H4 and daily trends and also I was saying that we have a temporaly high, but again the DOW is making me look bad:
Hi everyone,

l am the new boy on the block and have been reading all the great stuff from you guys for quite a while.

Can someone please tell me where to read about or how to trade the H4 and the H1 strategy used by auslanco...

thanks
  • #4,089
  • Aug 6, 2007 1:49pm Aug 6, 2007 1:49pm
Quoting amankwa
Hi everyone,

l am the new boy on the block and have been reading all the great stuff from you guys for quite a while.

Can someone please tell me where to read about or how to trade the H4 and the H1 strategy used by auslanco...

thanks
http://www.forexfactory.com/showthread.php?t=41509
  • #4,090
  • Aug 6, 2007 1:55pm Aug 6, 2007 1:55pm
Quoting Blah Blah
What's this "head and shoulders mean"???
Does it mean that once the head and shoulders has fully formed that the pound will go down against the YEN or Up?

THanks
check out: http://www.chartpatterns.com/headandshoulders.htm
  • #4,091
  • Aug 6, 2007 1:56pm Aug 6, 2007 1:56pm
What do you think guys!!!
will that beast go down again?
  • #4,092
  • Aug 6, 2007 1:56pm Aug 6, 2007 1:56pm
Quoting ovidiu
http://www.forexfactory.com/showthread.php?t=41509

......thanks mate
  • #4,093
  • Aug 6, 2007 1:57pm Aug 6, 2007 1:57pm
I would forget making predictions until after the stock market closes
  • #4,094
  • Aug 6, 2007 1:57pm Aug 6, 2007 1:57pm
there seems to be a very clear relationship between gbp/jpy and the dow jones index. it seems to be both on smaller and larger time frames. can anyone explain why this is the case? Why are the two related?
  • #4,095
  • Aug 6, 2007 1:59pm Aug 6, 2007 1:59pm
Quoting markam
I would forget making predictions until after the stock market closes
you're absolutely right
and pacience...
  • #4,096
  • Aug 6, 2007 2:01pm Aug 6, 2007 2:01pm
DOW is now 154.05!!!!!! Where is all this fluff coming from?

Do anyone know where you can get info and news instantaenously, so you know why DOW goes up or down?

I think awhile back Aussie, recommended Trade THe News.

Anyone know about it well?

Quoting markam
I would forget making predictions until after the stock market closes
  • #4,097
  • Aug 6, 2007 2:03pm Aug 6, 2007 2:03pm
Quoting sdot
there seems to be a very clear relationship between gbp/jpy and the dow jones index. it seems to be both on smaller and larger time frames. can anyone explain why this is the case? Why are the two related?
I expect there are computerized trading programs that operate based upon current market conditions.
  • #4,098
  • Aug 6, 2007 2:03pm Aug 6, 2007 2:03pm
Quoting ovidiu
you're absolutely right
and pacience...
I believe we (who went short) will be in trouble if it closes above 240.77
  • #4,099
  • Aug 6, 2007 2:06pm Aug 6, 2007 2:06pm
Quoting newjersey24
DOW is now 154.05!!!!!! Where is all this fluff coming from?

Do anyone know where you can get info and news instantaenously, so you know why DOW goes up or down?

I think awhile back Aussie, recommended Trade THe News.

Anyone know about it well?
From what I read, traders are picking up stocks that fell on Friday (on the cheap) and also purchasing shares in companies that they think will be able weather the coming storm.
Humble Lifetime Member
  • #4,100
  • Aug 6, 2007 2:06pm Aug 6, 2007 2:06pm
Quoting Majd
I don't know fundametally why but we are currently stuck at the verge of 4HR support line and just below 38.2 after breaking and closing below it by a bullish engulfing candle and moving 65 pips below it which is worrying

I thought the bearish thrust would be much stronger!
It seems like a nice, but painful, bounce off the confluence of Fibo and 4 HR support line
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