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

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

#31,201
Sep 23, 2007 10:10pm Sep 23, 2007 10:10pm

lilmoe
Joined Aug 2007 | Status: The Weather Man | 8,859 Posts

another resistance for GU, 61.8 fibo at 2.0267, price bounced from there... you guys can see the effect on GJ...

as aus said, the major player that would effect GJ will be london today.

#31,202
Sep 23, 2007 10:18pm Sep 23, 2007 10:18pm

Hakuna Matata
| Commercial User | Joined Jun 2007 | 3,549 Posts

out of me longs-- wait for nxt signal

#31,203
Sep 23, 2007 10:22pm Sep 23, 2007 10:22pm

katarche
| Joined Jul 2007 | Status: Trader | 95 Posts

The future path for rates, however, remains firmly tied to financial market developments and incoming economic data. In the US this week, the final reading for Q2 GDP will be released, but markets (and policymakers) will be much more interested in more contemporary data. September consumer confidence will be critical, while August data for personal income and spending, core PCE deflator, existing and new home sales, and durable goods will also be closely monitored alongside the Case Shiller home price index for July. Weaker than expected data will be bearish for the USD, reinforcing diminishing growth and interest rate differentials.

#31,204
Sep 23, 2007 10:23pm Sep 23, 2007 10:23pm

forexlion
| Additional Username | Joined Sep 2009 | 8,623 Posts

forming 1 hour GJ chart formations suggest 231.37 subject to break of 232.81

what is your idea guys.

#31,205
Sep 23, 2007 10:37pm Sep 23, 2007 10:37pm

pipped oFF
| Joined Dec 2006 | Status: Trader | 215 Posts

price action is stalling hard here guys. my thoughts are if we break 233.15'ish we are headed up, it looks like a key pivotal area.

"Only when the tide goes out will we know who is swimming naked."

#31,206
Sep 23, 2007 10:50pm Sep 23, 2007 10:50pm

vrama
| Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts

I plotted Fibonacci Expansion (of Meta) in one hour GJ.
How reliable is this indicator.? of course this is stupid question.

But still, any one is using this indicator to get the approx price tragets?

Attached Image (click to enlarge)

Click to Enlarge

Name: GJ_Feb_Expansion.jpg
Size: 115 KB

All things are difficult before they are easy.

#31,207
Sep 23, 2007 11:04pm Sep 23, 2007 11:04pm

Abacus
| Joined Aug 2007 | Status: Trader | 23 Posts

Quoting auslanco

Disliked

I was watching that speech live last week, I'm still trying to figure out what he was trying to say.

Ignored

I think Bush was responding to a comment someone made, "where is there an Iraqi 'Mandela', to come forward and unify the nation?" So Bush says Saddam killed them all off. That may be true, but Bush is certainly well-known for his simplistic, knee-jerk defenses of his policies. That's what I think he meant, not that Saddam literally killed Nelson Mandela. Just my opinion, worth one Amero.

_______________ Here 2 Learn

#31,208
Sep 23, 2007 11:13pm Sep 23, 2007 11:13pm

charvo
Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts

Quoting my2buoys

Disliked

The #2 example is where we are right now. Price's top is strongly bearish while MACD's top is strongly bullish, signifying a continuation of bearishness in price. The first example is referred to as classic (or regular) divergence while the second example is referred to as inverted divergence.
M2B

Ignored

Great insights, M2B, thanks.

Just a question, usually a bearish divergence is 2 prices: the 2nd price is HIGHER than the 1st price; 2 MACD tops, the 2nd top is LOWER than 1st top.

Which divergence is more powerful? the inverted one as you illustrated? or the bearish one that I mentioned above?

Thanks in advance.

#31,209
Sep 23, 2007 11:31pm Sep 23, 2007 11:31pm

my2buoys
| Joined Dec 2006 | Status: Trader | 1,556 Posts

Quoting charvo

Disliked

Great insights, M2B, thanks.

Just a question, usually a bearish divergence is 2 prices: the 2nd price is HIGHER than the 1st price; 2 MACD tops, the 2nd top is LOWER than 1st top.

Which divergence is more powerful? the inverted one as you illustrated? or the bearish one that I mentioned above?

Thanks in advance.

Ignored

I don't think you can determine whether or not 'regular divergence' is more powerful than 'inverted divergence'. If you were to use divergence alone as a trade signal (which I don't recommend) then I would have to say that 'regular divergence', which is shown in example #1 on my chart, is more consistent in its signals than 'inverted divergence'. I think the main reason for that is because 'regular' signals a reversal of trend and 'inverted' simply confirms a continuation. I just don't think you can determine one to be more 'powerful' than the other, because both can signal big moves depending on the TF in which they are found. The higher the TF on which you find divergence, the greater the potential for a big move.In this case it is on the 4H chart which is very significant. Hope this helps some.

M2B

PS- For those who are not sure what Charvo is talking about please refer to post #31176 on page #2079.

#31,210
Sep 23, 2007 11:46pm Sep 23, 2007 11:46pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting karmostaji

Disliked

Price needs to do a good retracement before it decides on it's direction, IMO 50% retracement is possible (231.57)

Ignored

still waiting..

Trade what you see, not what you think.