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

  • #19,601
  • Aug 31, 2007 3:07am Aug 31, 2007 3:07am
I think the trend is turning around.. I guess Markam is right sfter all
  • #19,602
  • Aug 31, 2007 3:08am Aug 31, 2007 3:08am
I wonder if this will hit the daily 5sma.. doubt it though.
  • #19,603
  • Aug 31, 2007 3:09am Aug 31, 2007 3:09am
Quoting pipslovah
whoaaa...what jus happened???? what is it retracing to??
Read post #19587
  • #19,604
  • Aug 31, 2007 3:10am Aug 31, 2007 3:10am
Big boys will never take such risk.. If they want to maximize the profit, they can just ride the trend firstly. If the time has come to hear the speech, close or organize their trade accordingly. If something go preferably, add more positions, if not, just lose a little or no at all (closed position before speech)

Hello World
  • #19,605
  • Aug 31, 2007 3:10am Aug 31, 2007 3:10am
Quoting karmostaji
I closed my longs, I don't like the 4h candle




sorry karmo, had to laugh!!
  • #19,606
  • Aug 31, 2007 3:12am Aug 31, 2007 3:12am
To the majority here who are long: you sure this is just another retrace? - maybe to daily 5sma?

My faith in the long targets is getting shaky. 4h momentum has been down for 12h or so, we are now piercing a trendline that can be drawn on 4h, 1h and 15m charts.

Karmo, you do TL's, are you still brimming with confidence?
Consistency and patience is everything
  • #19,607
  • Aug 31, 2007 3:12am Aug 31, 2007 3:12am
Quoting lilmoe



sorry karmo, had to laugh!!
LOL Laugh my friend Laugh +pips is better than nothing :
Trade what you see, not what you think.
  • #19,608
  • Aug 31, 2007 3:12am Aug 31, 2007 3:12am
What time is that US eastern time /and how or were can I find the sma5 on VT charts?please
Quoting auslanco
this is what you calll the "Frankfurt -London reversal ". This is not a unusual move. Infact this is a another trading strategy some traders use. Quite often you see when the frankurt takes the price to new highs, London will take the price down to where it was before the Frankfurt start. No suprises here. Happens all the time.

here's the strategy.. If Franfurt takes the price to new highs.. as soon as the London starts(7GMT) you go short and visa versa. Guaranteed pips there
  • #19,609
  • Aug 31, 2007 3:12am Aug 31, 2007 3:12am
Patience,....
I think this pair will go up,...
  • #19,610
  • Aug 31, 2007 3:13am Aug 31, 2007 3:13am
Quoting Geldmeister
To the majority here who are long: you sure this is just another retrace? - maybe to daily 5sma?

My faith in the long targets is getting shaky. 4h momentum has been down for 12h or so, we are now piercing a trendline that can be drawn on 4h, 1h and 15m charts.

Karmo, you do TL's, are you still brimming with confidence?
I closed my longs with profit, I'm watching now and waiting for the next opportunity to make more profits
Trade what you see, not what you think.
  • #19,611
  • Aug 31, 2007 3:15am Aug 31, 2007 3:15am
Quoting karmostaji
yah that 50% and daily trendline also, if these 2 are taken care off, 238.80 will come
The daily 50% fib looks like a decision point. Who will win the markarms or karmos . Luckily with Aus strategy we have an edge. (also the funies seem to be on the long side too). I know what side I am on, my longs are still open.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #19,612
  • Aug 31, 2007 3:15am Aug 31, 2007 3:15am
Quoting karmostaji
LOL Laugh my friend Laugh +pips is better than nothing :

it's good u made some profit!

i've predicted a downward movement since yesturday, i guess it had to retest the supports again before that.

we are still in an uptrend. however, we will have a really nice fall in a few.. afterwards, i guess u'll get your 238...

markam just assured my predictions.

by the way. 15m and 30m momentums are about to cross 50 line
  • #19,613
  • Aug 31, 2007 3:15am Aug 31, 2007 3:15am
Well fundamentally everything is still bearish - I mean, bad news about hedge funds, mortgage companies.. housing.. BOJ is hawkish and wants to raise rates, although not currently.

It seems that any upward move is quickly dampened and shot down.. just reflects the market's low confidence. If market conditions were normal, this current upward spike would have easily gone 200 pips or so.. but it's a little different in this environment.

I'm sure the speeches will help.. but I don't think they will really propel all carry pairs up.. underlying problems still remain and only a Fed rate cut (at least 50 bps) would start healing those wounds. Come on Bernanke, do a rate cut today.. to start off a great weekend.. then we can have our 500 pip profit for GJ
  • #19,614
  • Aug 31, 2007 3:16am Aug 31, 2007 3:16am
Quoting lilmoe
it's good u made some profit!

i've predicted a downward movement since yesturday, i guess it had to retest the supports again before that.

we are still in an uptrend. however, we will have a really nice fall in a few.. afterwards, i guess u'll get your 238...

markam just assured my predictions.

by the way. 15m and 30m momentums are about to cross 50 line

correction.... they already did!
  • #19,615
  • Aug 31, 2007 3:16am Aug 31, 2007 3:16am
I closed with a huge loss .. for my account of course ... i think i never can handle this
this sucks ... or it's just me
  • #19,616
  • Aug 31, 2007 3:18am Aug 31, 2007 3:18am
This morning, we also received a series of Japanese eco data. The markets especially looked at the CPI data. The data were close to expectations, but the overall picture is that deflationary tendencies still aren't out of the way. In the current environment of market uncertainty, this won't make the BOJ more inclined to raise rates anytime soon. This is no help for the yen. However, the risk aversion theme probably will continue to be the most important driver. In this respect, the market reaction on the announcement by Mr. Bush later today and the speech from Mr. Bernanke will be key for the short-term fate of yen.
Hello World
  • #19,617
  • Aug 31, 2007 3:20am Aug 31, 2007 3:20am
30minQQE of GBP/USD never recovered from the previous dip.. That was very worrying.. There will be a rangebound market until the biggest news of all time since 9/11 comes out.
  • #19,618
  • Aug 31, 2007 3:20am Aug 31, 2007 3:20am
What time is that US eastern time /and how or were can I find the sma5 on VT charts?please
Quote:
Originally Posted by auslanco http://www.forexfactory.com/images/buttons/viewpost.gif
this is what you calll the "Frankfurt -London reversal ". This is not a unusual move. Infact this is a another trading strategy some traders use. Quite often you see when the frankurt takes the price to new highs, London will take the price down to where it was before the Frankfurt start. No suprises here. Happens all the time.

here's the strategy.. If Franfurt takes the price to new highs.. as soon as the London starts(7GMT) you go short and visa versa. Guaranteed pips there
  • #19,619
  • Aug 31, 2007 3:23am Aug 31, 2007 3:23am
Hey Aus:

They use the same indicators at Forex Confidential but added some for filtering that work great. I am in their live chatroom and hourly workshops and we have made over 5,000 pips in 10 weeks........thx for this thread my man - you are awesome
  • #19,620
  • Aug 31, 2007 3:23am Aug 31, 2007 3:23am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Can someone cast a look at my charts, I am having issues in understanding the relationship of the MoM indicator, if I have it correct i need to wait for this to bounce again before taking a long entry, also is the indicator used for exit points - i noticed that it makes a sharp turn before the bear candle forms.

Attached Image (click to enlarge)
Click to Enlarge Name: gj 4h.gif Size: 20 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gj 1h.gif Size: 19 KB


i have read through the startergy posts, but just need to know that i am on the right path.

regards

MPP
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