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

  • #7,621
  • Aug 14, 2007 6:08pm Aug 14, 2007 6:08pm
Quoting Richardj
Yes, I'm getting a bit nervous about a retracement of some sort soon, as well.
The 4H 5SMA is around 235.88. It's hard to say if price will jump that far up or past there before the bottom targets are hit at the 61.8 Fib or the Channel bottom line. It might depend on whether or not the Japanese housewives are in a mood for buying or selling.

M2B
  • #7,622
  • Aug 14, 2007 6:10pm Aug 14, 2007 6:10pm
Thank u verry much guys!
  • #7,623
  • Aug 14, 2007 6:11pm Aug 14, 2007 6:11pm
Quoting Richardj
Yes, I'm getting a bit nervous about a retracement of some sort soon, as well.
I think so too. We started the week at the 61.8% fib line from last week and it's only gone down since then. Lots of room for a retrace. Plus it is triple interest Wed starting around the world. While the carry trades might be gone for awhile, people seem to still like to get their triple interest on Wed. Last weeks charts show almost every day bearish, but Wed was a 400+ pip bull day, only to give it all back on Thursday.
  • #7,624
  • Aug 14, 2007 6:13pm Aug 14, 2007 6:13pm
I've just reviewed all my charts... I just took a bit of profit a little while ago, and the downward energy, it seems to me, is just strong that I'm just going to grin and bear any temporary retracement. The more I look at the charts, the more I'm stretching the distribution of my TPs to include ever-lower levels.
  • #7,625
  • Aug 14, 2007 6:15pm Aug 14, 2007 6:15pm
Quoting my2buoys
Pin bar forming on the 30M Chart. I know pin bars are not real affective on lower time frames but a quick glance at a 30M Chart will show that they usually will produce some type of retracement.

M2B
It would seem only logical, last time when this prolonged drop happend there was a retrace at 5SMA daily. and the fact that 1h, 4h, daily are so oversold, would only reinforce this. This time I am not beting neither for a retrace or for a further drop locked in profits and placed a Sell Limit at 5SMA, finally learning something I hope...

P.S last time it was on friday I beleive and the retrace happend with the help of the DOW that sudently went also up, it is crazy! I am starting to think that GJ is also infuencing the DOW like that guy said on the radio
  • #7,626
  • Aug 14, 2007 6:15pm Aug 14, 2007 6:15pm
Quoting brucehvn
I think so too. We started the week at the 61.8% fib line from last week and it's only gone down since then. Lots of room for a retrace. Plus it is triple interest Wed starting around the world. While the carry trades might be gone for awhile, people seem to still like to get their triple interest on Wed. Last weeks charts show almost every day bearish, but Wed was a 400+ pip bull day, only to give it all back on Thursday.

Interesting, that triple Wednesday thing. I wish it wasn't! It's tricky, that's for sure - but one thing I'm very confident of, and that is the massive downward energy that's there.
  • #7,627
  • Aug 14, 2007 6:19pm Aug 14, 2007 6:19pm
1st night i decide to sleep early and i miss this anticipated move down---frustrating !!! bloody OZ time
  • #7,628
  • Aug 14, 2007 6:19pm Aug 14, 2007 6:19pm
on my chart I have an fibo 161.8 extension level at 234.20 a very good place for the price to rest, I don't know if this is what is holding the price but still I don't like those stochastics that look like they just want to shoot up
  • #7,629
  • Aug 14, 2007 6:28pm Aug 14, 2007 6:28pm
Quoting ovidiu
It would seem only logical, last time when this prolonged drop happend there was a retrace at 5SMA daily. and the fact that 1h, 4h, daily are so oversold, would only reinforce this. This time I am not beting neither for a retrace or for a further drop locked in profits and placed a Sell Limit at 5SMA, finally learning something I hope...

P.S last time it was on friday I beleive and the retrace happend with the help of the DOW that sudently went also up, it is crazy! I am starting to think that also GJ is infuencing the DOW like that guy said on the radio
You're right. That DOW/GBPJPY relationship is tricky. I know Markam has been studying that relationship diligently, and I haven't, so I won't deny what he has uncovered, but they are both so closely correlated that it's hard to tell which one is influencing the other at times. To me it's not about the tail wagging the dog. That analogy is comparing apples to oranges. To me it's about who has the most influence; the companies making the product or the people with money buying the product. It really comes down to supply and demand which we all know shifts back and forth on a regular basis. If you've followed the DOW just this last week it was easy to see that there were many times when GBP/JPY refused to follow the DOW's lead (even earler today I noticed it). However, for the most part, they do stick pretty close together.

M2B
  • #7,630
  • Aug 14, 2007 6:29pm Aug 14, 2007 6:29pm
ive got Monthly Pivot at 243.43 and its Support 1 at 235.77 and support 2 at 230.62 ( which is the ultimate tgt this month )
  • #7,631
  • Aug 14, 2007 6:31pm Aug 14, 2007 6:31pm
the daily candle has closed below 200 sma--more indication of bearish continuation
  • #7,632
  • Aug 14, 2007 6:32pm Aug 14, 2007 6:32pm
Quoting Que
Ok guys,

We made a QQE indicator for MT4 with an alert and email system. It works just like the VT QQE and if you compare the two you will have a 99% accuracy. the 1% difference is the difference between the data feeds, not the math of the indicator.


This indicator is good for a week, this is just for testing at the moment.

Tell us what you think.

Hey Que,

could you please provide us the instructions to open and run this attachment in MT4?

Thank you..

~G.
  • #7,633
  • Aug 14, 2007 6:34pm Aug 14, 2007 6:34pm
Quoting ovidiu
It would seem only logical, last time when this prolonged drop happend there was a retrace at 5SMA daily. and the fact that 1h, 4h, daily are so oversold, would only reinforce this. This time I am not beting neither for a retrace or for a further drop locked in profits and placed a Sell Limit at 5SMA, finally learning something I hope...

P.S last time it was on friday I beleive and the retrace happend with the help of the DOW that sudently went also up, it is crazy! I am starting to think that GJ is also infuencing the DOW like that guy said on the radio
which time frame are you using your 5sma on to set your sell limit? thx
  • #7,634
  • Aug 14, 2007 6:36pm Aug 14, 2007 6:36pm
Quoting ovidiu
My first observation would be that it haves more intersections with the signal line than on VT, look on 1H chart from 09.08.2007 to 10.08.2007 the crosings with 50 line QQE intersects it's signal line acouple of times, but on Vt only one intersection. Except that it looks identical, I am sure that you can fix this glitch to, impresive work, keep it up.

Please Screenshot that for me. I am looking at both the MT4 and VT for those time frames and they are identical on all crosses and values.

There is one place Around 13 Aug 15:00 Where the slow line did not cross below the fast on MT4 but did on VT. This is actually a mathmatical rounding error with VT.

I assure you the math is perfect on this QQE indicator. You will see minor diferences with the incomming feed though. If you look at it on Interbank and MIB they will be slightly different values, but the wave form is spot on.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: VT QQE.jpg Size: 94 KB
Click to Enlarge Name: MT4 QQE.jpg Size: 66 KB
Que
  • #7,635
  • Aug 14, 2007 6:39pm Aug 14, 2007 6:39pm
Quoting ar1002
Please explain me how to set this. How to add red line on the value 50?

Strength Indicator = Quantitative Qualitative Estimation Indicator ( Smoothing period 5) Please go to indicator properties and add a red line on the value 50.
Go to color /style on the same indicator properties and turn the LevelRSIfast to white(invisible)....

Do you still need help? If you do have the station open with either the 4hr or 1 hr chart open on the gdp/jpy and I would walk you through it.
The Will is Greater than the Skill
  • #7,636
  • Aug 14, 2007 6:43pm Aug 14, 2007 6:43pm
Quoting AlphaGA
Hey Que,

could you please provide us the instructions to open and run this attachment in MT4?

Thank you..

~G.

Just take the indicator and drop it into your experts/indicators file.

restart MT4.

go to custom indicators and attatch to your chart.

turn on the alerts you want and press ok.
Que
  • #7,637
  • Aug 14, 2007 6:47pm Aug 14, 2007 6:47pm
Quoting Que
Just take the indicator and drop it into your experts/indicators file.

restart MT4.

go to custom indicators and attatch to your chart.

turn on the alerts you want and press ok.
It looks like the default settings are not correct. If you could please share the settings, thanks!
  • #7,638
  • Aug 14, 2007 6:54pm Aug 14, 2007 6:54pm
Asian markets open in 5 minutes. Lets see what happens.
  • #7,639
  • Aug 14, 2007 6:58pm Aug 14, 2007 6:58pm
Quoting skillwill
Do you still need help? If you do have the station open with either the 4hr or 1 hr chart open on the gdp/jpy and I would walk you through it.
Please help him through a PM instead of the open thread. Thanks.

M2B
  • #7,640
  • Aug 14, 2007 7:05pm Aug 14, 2007 7:05pm
Just need one more confirmation:
We should have already touched 1h 5 sma at 234.63.
Retracement is done, Right?

Guess what it's going up higher, now. (Still not good at judging the retracement.)
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