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

  • #34,581
  • Sep 30, 2007 11:37pm Sep 30, 2007 11:37pm
Quoting auslanco
Hi Monarch.. I'm expecting a pull back towards 234.80 area during Frankfurt before London may push up break that level.
Very good Bro. The Open of G/J was 234.77, I would agree on a test of this level prior to a break above the 235.49 resistance.

I had expected this resistance to be pressed during the London session for sure, I don't think the JPY news was enough to stall the JPY pairs downward.

I will be anticipating this move down during the "Frankfurt stop attempts", then a lunge upwards in the London session to break above this 235.49/50 area above.

Is your stop loss below this level "A"?
  • #34,582
  • Sep 30, 2007 11:39pm Sep 30, 2007 11:39pm
Quoting auslanco
I bought when QQE5 crossed upwards. QQE60 was already up.
aus..for confirmation, is QQE5 is QQE in TF5 , while QQE60 is QQE indi in TF60?...thanks
  • #34,583
  • Sep 30, 2007 11:42pm Sep 30, 2007 11:42pm
Quoting alanz76
aus..for confirmation, is QQE5 is QQE in TF5 , while QQE60 is QQE indi in TF60?...thanks
Both are opened in TF15, one QQE with smoothing factor5, the second one with factor 60

  • #34,584
  • Sep 30, 2007 11:43pm Sep 30, 2007 11:43pm
Quoting auslanco
Hi Monarch.. I'm expecting a pull back towards 234.80 area during Frankfurt before London may push up break that level.
Man, this is a very good call ...congrates...
  • #34,585
  • Sep 30, 2007 11:46pm Sep 30, 2007 11:46pm
thanks piters
  • #34,586
  • Sep 30, 2007 11:55pm Sep 30, 2007 11:55pm
Quoting markam
I agree with your ultimate direction, but I seriously doubt that GJ is going above the 235.5 area anytime soon. In fact, I have my doubts that it will ever go above 235.5 again.

We are starting to get the news about the european banks (and it isn't good). Very soon, we are going to start hearing about numerous hedge funds going under. Then the american banks. Then????
I posted this almost a month ago. So far, I have been correct. Let's see if I am correct through this week.
  • #34,587
  • Sep 30, 2007 11:56pm Sep 30, 2007 11:56pm
Quoting monarza
Man, this is a very good call ...congrates...
You will notice very quickly here that Auslanco knows the characteristics of the G/J, just mark all the lines of importance for a month, and then you'll see how nice it is too trade his style.

The G/J came down within 10 pips from the Market open at 234.77, I caught the E/J open price for a quick hit on some very fast scalping profits, I am still waiting for a second attempt down here during Frankfurt.
  • #34,588
  • Sep 30, 2007 11:56pm Sep 30, 2007 11:56pm
Quoting auslanco
(US) BARRONS COMMENTS ON THE SIMILARITIES BETWEEN THE CURRENT EQUITY MARKET AND STOCK MARKETS IN 1987 -
Hey Aus,
Where are you finding this? Is this from you Trade The News?
  • #34,589
  • Sep 30, 2007 11:57pm Sep 30, 2007 11:57pm
Quoting monarch
Very good Bro. The Open of G/J was 234.77, I would agree on a test of this level prior to a break above the 235.49 resistance.

I had expected this resistance to be pressed during the London session for sure, I don't think the JPY news was enough to stall the JPY pairs downward.

I will be anticipating this move down during the "Frankfurt stop attempts", then a lunge upwards in the London session to break above this 235.49/50 area above.

Is your stop loss below this level "A"?
Sl is at 234.50. Not very comfortable with my SL position since I always prefer to have it below the Daily pivot(234.10).
  • #34,590
  • Sep 30, 2007 11:58pm Sep 30, 2007 11:58pm
Quoting rodders
Hey Aus,
Where are you finding this? Is this from you Trade The News?
yepp
  • #34,591
  • Oct 1, 2007 12:00am Oct 1, 2007 12:00am
Quoting markam
I posted this almost a month ago. So far, I have been correct. Let's see if I am correct through this week.
Very good bro. I notice on the 4HR, that this is our third stab at the 235.50 area, let's see if it holds again today, or this week as you made mention of.

We break it this time, then were going higher for sure, but until then, we are being held captive by this line of resistance.

We shall see soon enough.

Good trading to you.

Ken
  • #34,592
  • Oct 1, 2007 12:05am Oct 1, 2007 12:05am
Quoting auslanco
Sl is at 234.50. Not very comfortable with my SL position since I always prefer to have it below the Daily pivot(234.10).
I am the same when it comes to Stop Losses, I prefer them being lower then a line of importance.

I have the Daily pivot around the 234.18 line.

I also have the 250 EMA on the 5 minute at 234.62 (15 pips below the Open Price and near the low since Open), this line usually holds price nicely, but it does crack occasionally by a few candles prior to the bounce in the trend direction.

This line should rise prior to the test of the daily pivot area.
  • #34,593
  • Oct 1, 2007 12:06am Oct 1, 2007 12:06am
Quoting monarch
Very good bro. I notice on the 4HR, that this is our third stab at the 235.50 area, let's see if it holds again today, or this week as you made mention of.

We break it this time, then were going higher for sure, but until then, we are being held captive by this line of resistance.

We shall see soon enough.

Good trading to you.

Ken
Looking back at September, you could have had a very easy investment strategy. Short every time it went over 233.5, and long every time went below 230. I wonder if the 228.5/235.5 barriers will hold for October?
  • #34,594
  • Oct 1, 2007 12:13am Oct 1, 2007 12:13am
this last dip was a 4hr retrace to 5sma
Trade what you see, not what you think.
  • #34,595
  • Edited 2:31am Oct 1, 2007 12:25am | Edited 2:31am
Quoting markam
Looking back at September, you could have had a very easy investment strategy. Short every time it went over 233.5, and long every time went below 230. I wonder if the 228.5/235.5 barriers will hold for October?
Hindsight is a beautiful thing, I traded a 4hour system a few months back, and this type of ranging was terrible for the account.

The one thing I learned this year was, after a major move on the G/J - E/J of large proportions (300-600 pips), there was always a period of ranging.

We have seen two periods of ranging since the G/J came down from the 251 area, this being the longer period of ranging.

At this point, I would be prepared to see a breakout of this range area, and looking across the Daily chart, you can see a gradual climb upwards that has progressed since the day the FED came to the emergency rescue of the interest rates.

Even though 235.50 seems to be the key resistance we are facing, the next level upwards that will be important will be 236.28 to 237.50 area, on the lower area were looking at support at or around the 233.00/50.

Taking this into perspective, we are being squeezed between the support at 233.50 and resistance at 235.50. (This is based on the Monthly Chart).
  • #34,596
  • Oct 1, 2007 12:34am Oct 1, 2007 12:34am
Quote
Financial bookmakers, or spread betters, in London expected Britain's FTSE
100 (.FTSE: Quote, Profile, Research) index to open between 12 and 13 points lower, the German DAX
(.GDAXI: Quote, Profile, Research) 5 to 7 points lower and the French CAC 40 (.FCHI: Quote, Profile, Research) 5 to 7 points lower.

After being positive earlier today, the Nikkei is looking to close negative. The european markets are going to start in the red. All GJ bearish signs.
  • #34,597
  • Oct 1, 2007 12:47am Oct 1, 2007 12:47am
I closed my GJ for a 7 pips loss... I'm expecting a retracement towards Daily 5 sma before it shoots up again.
  • #34,598
  • Oct 1, 2007 12:47am Oct 1, 2007 12:47am
OK, another idiot/newbie question (sorry to clog up thye thread!)
but have been following commentary re Frankfurt/London reversals.

It is approx 7.46am in frankfurt now. Does the market open there at 8am or 9am?

anyone, please!
  • #34,599
  • Oct 1, 2007 12:49am Oct 1, 2007 12:49am
Frankfurt opens in 10mins
  • #34,600
  • Oct 1, 2007 12:51am Oct 1, 2007 12:51am
Thanks Aus

just did the same for +2
Quoting auslanco
I closed my GJ for a 7 pips loss... I'm expecting a retracement towards Daily 5 sma before it shoots up again.
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