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

I still got shorts.. But did a retraco long trade to 4hr 5SMA and made some pips. Any bad news for US is good news for carry trade - shorts I could be wrong .. we will find out soon

It is this exact reason that you as an individual have to accept responsibility for your decisions. Remember all traders no matter how good they are will get it wrong one time or another...

A

No two.. systems. Longs are using Karmos FiB strategy..


Shorts are using QQE /Gann

Aha...Dollar is losing ground vs. Euro and Sterling, while kept steady vs. Yen....

Oh.....I can't wait the pair to be skyrocketed...

Here's the news:


(RTTNews) - The dollar slipped in early dealing against the euro and sterling while stabilizing against the yen Tuesday morning. Trading took place ahead of a closely watched report on consumer confidence.The Conference Board''s Consumer Confidence Index, based on a consumer attitude survey on present conditions and expectations of future conditions, is due out at 10 AM ET on Tuesday. Economists expect the index to be at 105 for the month of August.At 2 pm ET, the Federal Reserve is due to release the minutes of the August 7th Federal Open Market Committee meeting. While the recent discount rate cut by the Federal Reserve has already had a significant impact on the outlook for the federal funds rate, traders are still likely to pay close attention to the minutes of the August meeting. At its August meeting, the Federal Reserve Open Market Committee voted to leave interest rates unchanged at 5.25% for the ninth consecutive meeting. The committee noted that economic growth was moderate in the first half of the year, while it also said it appears that the economy will continue to expand at a moderate pace over coming quarters.The dollar fell sharply against the euro Tuesday morning in New York, all but erasing its gains from the previous session. The dollar fell to 1.3679 by 7 am ET, down from an early low of 1.3617. The dollar tested late Sunday''s 2-week low of 1.3684 before stabilizing. Trading took place amid the release of data showing that German business sentiment for August declined less than expected.The Munich-based IFO said the Business Climate indicator stood at 105.8 in August, down from 106.4 seen in July. Economists were looking for a lower reading of 105.2. The IFO Business Climate Index is computed on the basis of 7,000 monthly survey responses of firms in manufacturing, construction, wholesaling and retailing.The dollar saw little movement against the yen Tuesday morning after losing ground the previous evening. The dollar was range-bound near 115.50, having slipped to a 5-session low Monday night. The Bank of Japan''s policy board believed that the Japanese economy is likely to follow a path of sustainable growth under price stability in light of the "understanding of medium- to long-term price stability," the minutes of the July meeting indicated Tuesday.The minutes said that given the economic and financial situation, members concurred that their basic thinking remained unchanged on the monetary policy stance for the immediate future. Therefore, they decided to leave interest rates steady at 0.5% by a 8-l vote.The dollar raced lower against the sterling Tuesday morning, paring a fraction of its gains from the previous session. The dollar slipped to 2.0116, down from 2.0025 Monday night. Against the loonie Tuesday, the dollar slipped to 1.0536 from an early high of 1.06. Versus the Swiss franc, the dollar dropped to 1.1972 from a 4am ET high of 1.2046.After turning in a strong performance last week, the U.S. stock markets gave back some ground during trading on Monday following the release of disappointing housing data. The major averages all moved into negative territory, although selling pressure was relatively subdued. For comments and feedback: contact [email protected]opyright(c) 2007 RealTimeTraders.com, Inc. All Rights Reserved

My apologies Auslanco. It is true that I have not yet read the previous posts because I just came in after being away from my computer for nearly 6 hours.

Actually I was hoping there was somebody else here who was doing EW Wave counts on GBPJPY too. And I was hoping I would be able to get some confirmation for my wave count or trend direction.

But it is good to know that you are Bearish too. Our friend Zoran with his gartley Pattern Analysis is Bearish also.

EG

Enjoying the green pips

We'll see if he is right

http://www.forexfactory.com/news.php?do=news&id=44392

[offtopic]
I was just wondering, is there anyone from Romania on this thread?

No probs.. Zoran was just here.. but suddenly disspeared. Must be loading his shorts Hope someone else can help you out here. Why don't you post a screen shot

Well I am certainly no expert on anything involving forex but it sure looks like to me that the bears are dead in the water now.

Long GJ Long....

be careful with the shorts -> http://www.shoprobertson.com/images/..._shorts_02.jpg

especially if they're made in china. {nice legs though }

I wonder if Gheorghe Hagi and Popescu are trading in the forex market... I would be more than happy to be their trader.

The pair is being pushed up by stronger cable, so as long as the cable will gain and usdjpy stays flat as of now, gbpjpy will gain. But i also believe, that the fall in yen-pairs is inevitable for now but might happen a bit later.

auslanco,

Daily QQE is crossed upwards
4h QQE is the only one crossed downwards, and it looks like it is going to bounce off the 50 line

what makes you think we will see 230 and 226?

Just wait NY session in few minutes , and then we might see bears alive
Stocks markets are in the red , and Dow futures dropped 40 points so it will open in the red which is good for the big bears

Looks like we might have your strategy trade coming up aus, from 5m time frame up to 1h the qqe's are crossed up and the 1h is just touching (or vary close) to 50. all we need is the 4h qqe crossing and we should have a nice bull ride and ofcourse the tft and sma crossing.

you mean a bull ride with karmo