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

  • #8,281
  • Aug 15, 2007 10:48am Aug 15, 2007 10:48am
I'm from Uranus sorry!
  • #8,282
  • Aug 15, 2007 10:48am Aug 15, 2007 10:48am
nobody from Spain?
  • #8,283
  • Aug 15, 2007 10:48am Aug 15, 2007 10:48am
Quoting cybernan
I almost never post on a forum. I have developed my own system which works for me . I am a 72 year old great grandmother. I trade the GBP/JPY only. I trade off the 4hr chart but confirm with the 1 hr chart. I use a different MACD for each level and several MA's plus support and resistance lines from the day before + the week before and sometimes resort to fib.

I really like reading this forum. So I am here but I won't be posting again.
Come on grandma, your amongst friends. Share some insight on this crazy pair. What do you see on your 4 hour chart . . up or down?

Your insight will be greatly appreciated.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #8,284
  • Aug 15, 2007 10:49am Aug 15, 2007 10:49am
the dow is still dropping
  • #8,285
  • Aug 15, 2007 10:49am Aug 15, 2007 10:49am
Quoting Rabax
Ok, just a thought. I am reading a book on Forex and I just read a chapter on Eliot Wave theory.

I have been playing a bit with the numbers and would like your opinions on the following.

The move from Feb. 2007 to July 2007 (from 221,07 low to 251,09 - 3002 pips) is the first wave in a cycle (if we disregard the uptrend from before).

This would complete wave 1. The wave 2 (retracement) should present 0,618*move of wave 1, this being 3002*0,618 = 1855 pips. If we calculate 251,09 - 1855 pips we get 232,54. The level was broken below, but for now without close.

Also we have a retracement from Feb to 61.8 from the move to July.

If that all were true, we should see the start of wave 3 of the EW theory. Since I never traded like that and am more a PP man (also we have a weekly support 2 at 232,17 on my calculations (based on the book)).

Any thoughts, disagreements or similar? Any opinion is welcome from my side.
in theory whats wave 3s fundamentals/technical analysis from what we are currently seeing ? in curious...
  • #8,286
  • Aug 15, 2007 10:50am Aug 15, 2007 10:50am
dow is about to drop under 13000
  • #8,287
  • Aug 15, 2007 10:51am Aug 15, 2007 10:51am
Quoting emda
nobody from Spain?
spanish here but in california
  • #8,288
  • Aug 15, 2007 10:52am Aug 15, 2007 10:52am
Hello all! As everybody is introducing himself I thought I could join in ;-) This thread is a great resource - but I prefer to monitor it quietly. Thank you to Aus for having started this and of course to all the others who keep the passionate discussions alive 24/7. I have got only about 6 months experience in Forex - and am currently short in the BEAST from 234.15.

This is one for Geldmeister:

Enjoying the summer rain in St Margarets? I am living just on the other side of the Thames in Ham / Richmond. Originally I am from Munich/Germany.
  • #8,289
  • Aug 15, 2007 10:52am Aug 15, 2007 10:52am
still think the dow follows the currency pair?
  • #8,290
  • Aug 15, 2007 10:52am Aug 15, 2007 10:52am
Quoting markam
dow is about to drop under 13000
Nice job, got out long time, ago.
  • #8,291
  • Aug 15, 2007 10:53am Aug 15, 2007 10:53am
think we gona to 232.47 once again
If you count on hope in any trade ……. Get out of it
  • #8,292
  • Aug 15, 2007 10:53am Aug 15, 2007 10:53am
Me super duper fresh newbie from Johor Bahru
  • #8,293
  • Aug 15, 2007 10:54am Aug 15, 2007 10:54am
Started invest in December 2006. My broker runs the account. Suddenly in March 2007, the money lost, went into -ve. My trader said my money is the balance, about 14k. But i argued, cause the equity is -ve.

Feel unhappy, i trade on myself. Start learning by surfing one Indonesian forex web page (belajarforex.com), where Suharto and Kirai lives. Till July 2007, i made only lost trades.

Someone suggest to read news at forexfactory. Fortunately, i found this thread, in July. Then i decided to pump in some money (the last one), and try to cover what i have lost.... i hope so.....

Now i have 2 accounts.. one with globalcommercefx, one with fxcm.
  • #8,294
  • Aug 15, 2007 10:55am Aug 15, 2007 10:55am
Just across the causeway! =)

You got lots to read man.. took me few days, and im still not done reading through all these thousands of posts here..

Back on Topic: me still holding longs.. though negative now.. at least till friday - no matter what happens.. lolx.. i wanna sit out.. and relax...

just maintaining and making sure i have enough margin!



Quoting kimi
Me super duper fresh newbie from Johor Bahru
  • #8,295
  • Aug 15, 2007 10:56am Aug 15, 2007 10:56am
dow is back over 13000. longs may be safe.
  • #8,296
  • Aug 15, 2007 10:56am Aug 15, 2007 10:56am
Quoting markam
still think the dow follows the currency pair?
Markam,

Thanks for keeping an eye out for us...you have saved my "you know what" too many times to count!
  • #8,297
  • Aug 15, 2007 10:56am Aug 15, 2007 10:56am
Quoting markam
still think the dow follows the currency pair?
GJ could go to 232.8 and would still be in a retracement, the DOW is a great indicator but only that, and probably will folow GJ tomorow at the opening seeing how nicely GJ went up:
  • #8,298
  • Aug 15, 2007 10:57am Aug 15, 2007 10:57am
Quoting MikeW
You're going to be a good trader zoheir
Thanks a lot Mike, all the best
  • #8,299
  • Aug 15, 2007 10:58am Aug 15, 2007 10:58am
Quoting egutie6970
in theory whats wave 3s fundamentals/technical analysis from what we are currently seeing ? in curious...
Well 232.5 should present the end of wave 2 and also the bottom of the move. Wave 3 should not go below that point, but only up. This should be supported also by the Fib ext. level 1,618 from the first move, meaning the top should be around 281.07. During wave 3 we should have strong fundamental bullish bias. Also for the wave to actually be a Wave 3 of the move, it should not be the shortest of all five.

I must say I am not convinced that this is true, since GBP/USD is bearish, we don't know how far the financial crisis will go, and USD/JPY is still not showing a strong direction in my opinion. I would avoid bullish or bearish bias at the moment on these pairs, since it is a very unthankful task to pick the direction at the moment.

The move down has been strong and might still not be at an end. We might even be facing a long term trend reversal. But I doubt it will be clear before September.

I mentioned EW theory just because I read something on it and numbers coincide approximately. The up to February 2007 and decline thereafter are not in agreement with the theory and it's a good question if EW theory can be applied after a strong up + correction.
Greed and impatience are our greatest enemies.
  • #8,300
  • Aug 15, 2007 10:58am Aug 15, 2007 10:58am
Quoting kimi
Me super duper fresh newbie from Johor Bahru
Hi kimi... nobody knows Johor Bahru..... the only one that knows is me.... where? Kampung Pasir? Taman Kobena? BBU?
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