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

  • #7,341
  • Aug 14, 2007 9:34am Aug 14, 2007 9:34am
Quoting trader8686
Were the European and Asian market bad last night?

Asia mixed, Europe slightly negative. Nothing that would indicate a bad day in the US market.
  • #7,342
  • Aug 14, 2007 9:34am Aug 14, 2007 9:34am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
Alongwith following this thread and its system, I also placed 100 and 200 bollinger. It crossed 100 ; 200 bollinger low band is at 234.80.
It should touch, or minimum reach it.
I am short and Tp 234.80.
I am not that experienced, just my way of making money.
All things are difficult before they are easy.
  • #7,343
  • Aug 14, 2007 9:35am Aug 14, 2007 9:35am
Quoting markam
Until 4 pm eastern standard time, this pair will do exactly what the dow does. The dow is currently down 85 points. If the dow rebounds (which it probably will) GJ will go up.

How do you know it's not the other way around, that the dow is not following the Sterling/Yen pair?????

I watched some guy on CNBC - some big analys or fund manager or something and when he was asked about the dow he said to watch this pair and the dow will bouncw when this pair goes up.
  • #7,344
  • Aug 14, 2007 9:38am Aug 14, 2007 9:38am
Unless this candle ends up spiking into a Doji like the last 4H candle then it looks like the bears will win out in the breaking of the lower trend line. A close below this line by 1600GMT would seem to seal the deal on a break down to the 61.8 Fib level that Karmo has been talking about, which is right around 232.60. It is also interesting to note that the bottom of the 1000 pip channel is just underneath that level at around 232.30.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 47 KB
  • #7,345
  • Aug 14, 2007 9:39am Aug 14, 2007 9:39am
Quoting digitizer123
How do you know it's not the other way around, that the dow is not following the Sterling/Yen pair?????

I watched some guy on CNBC - some big analys or fund manager or something and when he was asked about the dow he said to watch this pair and the dow will bouncw when this pair goes up.

I am sure that it is the same banks and brokerage houses using similar computerized trading programs that make the yen currency pairs and stock indexes trade in tandem.
  • #7,346
  • Aug 14, 2007 9:40am Aug 14, 2007 9:40am
The dow bounced off mondays low is moving up.
  • #7,347
  • Aug 14, 2007 9:42am Aug 14, 2007 9:42am
I enjoy reading this thread, keep it up guys

232.50 will come, maybe after or before retracement, but it will come
Trade what you see, not what you think.
  • #7,348
  • Aug 14, 2007 9:42am Aug 14, 2007 9:42am
now let's take a look at daily chart.
1.272 fibo from previous dip (237.60, see red star). classic rsi divergence (see red lines). going up a little bit (probably 240.96)... BUT watch for price action confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: g-j daily.jpg Size: 68 KB
Nihil Sine Deo.
  • #7,349
  • Aug 14, 2007 9:43am Aug 14, 2007 9:43am
Quoting karmostaji
I enjoy reading this thread, keep it up guys

232.50 will come, maybe after or before retracement, but it will come

One step on the road to 210.
  • #7,350
  • Aug 14, 2007 9:45am Aug 14, 2007 9:45am
Dow didn't bounce much off of mondays low. Could be looking at a possible break down.
  • #7,351
  • Aug 14, 2007 9:51am Aug 14, 2007 9:51am
Quoting Scrat
looks like 0.5 fib retracement on weekly chart has been reached (previous retracement was also 0.5). rsi shows a hidden divergence (HL, LL) and the weekly trend is still up. all these means we might see a run up.
however, there is room to go down to at least 0.618 fib - 232.54.
let's see where price action leads us.
I have been buying dips since Jan 2007and trbled my account as a result :-) The last retracement was indeed 50% and we are now on the 50% of the last move up. As a result I'm now long for a sweet move over the next weeks/month back above 250+. The daily, weekly and monthly charts are all bullish

Regards
Dave
  • #7,352
  • Aug 14, 2007 9:53am Aug 14, 2007 9:53am
Quoting rumbey
I have been buying dips since Jan 2007and trbled my account as a result :-) The last retracement was indeed 50% and we are now on the 50% of the last move up. As a result I'm now long for a sweet move over the next weeks/month back above 250+. The daily, weekly and monthly charts are all bullish

Regards
Dave
and now the h4 chart. no reversal sign at all. yet. every single one was negated (see previous hammer, doji, then another doji... ).
patience. we're trying to follow the trend, not go long.
Attached Image (click to enlarge)
Click to Enlarge Name: g-j h4.jpg Size: 60 KB
Nihil Sine Deo.
  • #7,353
  • Aug 14, 2007 9:53am Aug 14, 2007 9:53am
Don't try and fight the trend right now which is down. Ride the wave down!!
  • #7,354
  • Aug 14, 2007 9:55am Aug 14, 2007 9:55am
Cross Over Daily Fibo 50.0%
New Forex Trader
  • #7,355
  • Aug 14, 2007 9:56am Aug 14, 2007 9:56am
Dow has breached mondays low and is right at fridays low. Not much to stop it below there.
  • #7,356
  • Aug 14, 2007 9:59am Aug 14, 2007 9:59am
Quoting markam
One step on the road to 210.
Serious or joking? 210?
  • #7,357
  • Aug 14, 2007 10:00am Aug 14, 2007 10:00am
since we're on the same page... just a comment: a doji would not be relevant AT ALL without a confirmation (and even so...). only because we're in a downtrend.

Quoting my2buoys
Unless this candle ends up spiking into a Doji like the last 4H candle then it looks like the bears will win out in the breaking of the lower trend line. A close below this line by 1600GMT would seem to seal the deal on a break down to the 61.8 Fib level that Karmo has been talking about, which is right around 232.60. It is also interesting to note that the bottom of the 1000 pip channel is just underneath that level at around 232.30.

M2B
Nihil Sine Deo.
  • #7,358
  • Aug 14, 2007 10:01am Aug 14, 2007 10:01am
Quoting trader8686
Serious or joking? 210?
serious
  • #7,359
  • Aug 14, 2007 10:03am Aug 14, 2007 10:03am
Boy you could sure tell we breached fridays low. Dow is below 13,100
  • #7,360
  • Aug 14, 2007 10:03am Aug 14, 2007 10:03am
Quoting markam
Dow has breached mondays low and is right at fridays low. Not much to stop it below there.
Now the Dow is breaking 13,100 and at the lows of the day, should try to test 13,000.
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