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

  • #16,361
  • Aug 27, 2007 8:01pm Aug 27, 2007 8:01pm
1 hr candle closed at 231.75... What do u think karmo? short or just wait?
  • #16,362
  • Aug 27, 2007 8:05pm Aug 27, 2007 8:05pm
1hr. 100sma?
  • #16,363
  • Aug 27, 2007 8:07pm Aug 27, 2007 8:07pm
Quoting Hakuna Matata
yup--thats why i exited cao i kne it would want to close near the 50 ema--so itook my profit at near the low

now im back in at that spoike up at 232.03--short

Looks like a good entry level HK. I missed that one but will wait for another opportunity
Btw, price already closed below 200 ema on 30 min and 1 hr. Which is very bearish from what I understand. I have heard that 200 ema was voted the best indicator to most traders (not sure how long ago that happened .. hehe).

Maybe our coming Fed chief M..Bernanke could elaborate a bit more ... hehe .. j/k.
  • #16,364
  • Aug 27, 2007 8:11pm Aug 27, 2007 8:11pm
got a close below 50emaon 4hr but not a close below 100sma on 1hr

both closes below would have been fantastic---now we hope
  • #16,365
  • Aug 27, 2007 8:16pm Aug 27, 2007 8:16pm
price is going slightly back up. where are we expecting it to retrace to?
  • #16,366
  • Aug 27, 2007 8:19pm Aug 27, 2007 8:19pm
just hit the 1-hour 5sma. I shorted again.
  • #16,367
  • Aug 27, 2007 8:20pm Aug 27, 2007 8:20pm
the 4-hour 5sma is about 233.12, if it retraces that far.
  • #16,368
  • Aug 27, 2007 8:21pm Aug 27, 2007 8:21pm
TN ANALYSIS: BOJ MINUTES FROM JULY 11-12 MEETING SHOWS THAT THE BOJ HAS BEEN CAUGHT OFF GUARD BY RECENT MARKET TURBULENCE
- Most of the comments from the BoJ minutes in line with their prior views, not too many surprises. But one comment that stands out: At the meeting they said that "downside risk for U.S. economy becoming smaller." Note that this meeting took place before the DOW fell from its record high on 7/19. Maybe the BoJ was too optimistic about the outlook for the U.S. economy?

- Perhaps more significantly, the BoJ has been caught off guard by recent Fed commentary. The BoJ scenario expects a soft landing for the U.S. economy, but the recent Fed statement that "risks to economic growth had increased appreciably" has put the BoJ in a tough position (the Fed comments were made after the BoJ's July 11-12 meeting), and the BoJ may have to rethink the soft landing scenario. This increases the chances that the BoJ will go into "wait-and-see" mode, further reducing the chances for a BoJ rate hike at the September meeting.
  • #16,369
  • Aug 27, 2007 8:23pm Aug 27, 2007 8:23pm
4hr retracement is not due within this 4hrs. The only retracement is 1hr which was just completed.
  • #16,370
  • Aug 27, 2007 8:28pm Aug 27, 2007 8:28pm
wow, just got back to my comp and price already retraced back to 232.30 level.
Well, could go short or wait till 4hr retracement .. hmm .. maybe just wait a little more while.
  • #16,371
  • Aug 27, 2007 8:29pm Aug 27, 2007 8:29pm
Quoting auslanco
4hr retracement is not due within this 4hrs. The only retracement is 1hr which was just completed.
Aus

Briefly how do you know which retracement is due? I thought you were taking a rest Thanks. sw
The Will is Greater than the Skill
  • #16,372
  • Aug 27, 2007 8:30pm Aug 27, 2007 8:30pm
Quoting auslanco
4hr retracement is not due within this 4hrs. The only retracement is 1hr which was just completed.
hey Aus-- how can u say 4hr retracement not due within this hr
on fxdd--4hr 5sma is at 232.95--why would u say its not due?
  • #16,373
  • Aug 27, 2007 8:32pm Aug 27, 2007 8:32pm
Quoting auslanco
4hr retracement is not due within this 4hrs. The only retracement is 1hr which was just completed.


I still have 28 minutes til this next hr candle finished retracing.
Trade what you see, not what you think.
  • #16,374
  • Aug 27, 2007 8:33pm Aug 27, 2007 8:33pm
Quoting auslanco
4hr retracement is not due within this 4hrs. The only retracement is 1hr which was just completed.
How can you tell what time frame retracement is due thanks in advance
  • #16,375
  • Aug 27, 2007 8:33pm Aug 27, 2007 8:33pm
Quoting skillwill
Aus

Briefly how do you know which retracement is due? I thought you were taking a rest Thanks. sw
using the momentum indicator. Check my strategy thread for more info
  • #16,376
  • Aug 27, 2007 8:34pm Aug 27, 2007 8:34pm
bouncing hard off my 100sma thats why i haven't shorted yet.
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TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #16,377
  • Aug 27, 2007 8:34pm Aug 27, 2007 8:34pm
Quoting icthelite98
How can you tell what time frame retracement is due thanks in advance
Good question!
  • #16,378
  • Aug 27, 2007 8:38pm Aug 27, 2007 8:38pm
Quoting Hakuna Matata
hey Aus-- how can u say 4hr retracement not due within this hr
on fxdd--4hr 5sma is at 232.95--why would u say its not due?
I dont have much faith in MT4 momentum indicator.. According to VT it's not due yet. Even my FXDD.. the indicator is pointing flat not a strong retracement.
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  • #16,379
  • Aug 27, 2007 8:41pm Aug 27, 2007 8:41pm
i don't base any trading decision on a close below/above whatever MA.

Quoting mktjong
Looks like a good entry level HK. I missed that one but will wait for another opportunity
Btw, price already closed below 200 ema on 30 min and 1 hr. Which is very bearish from what I understand. I have heard that 200 ema was voted the best indicator to most traders (not sure how long ago that happened .. hehe).

Maybe our coming Fed chief M..Bernanke could elaborate a bit more ... hehe .. j/k.
Nihil Sine Deo.
  • #16,380
  • Aug 27, 2007 8:42pm Aug 27, 2007 8:42pm
Quoting auslanco
using the momentum indicator. Check my strategy thread for more info
Aus,

I'm not real sure I understand the notes in the Strategy Thread in a particular case like this. Do you mean you are expecting a 1H 5SMA retrace and not a 4H 5SMA retrace because the 1H Chart Momentum is bullish but the 4H Momentum is still bearish? So you are looking for the 4H Momentum to turn bullish before looking for a 4H 5SMA retrace?

M2B
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