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

  • #34,601
  • Oct 1, 2007 12:53am Oct 1, 2007 12:53am
Quoting markam
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.
Bearish trend movements will be very limited unless 5sma retracements... The pair has broken the 4hr 200EMA convincingly. we may see 238+ before end of this week.
  • #34,602
  • Oct 1, 2007 12:57am Oct 1, 2007 12:57am
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.
Closed out my second E/J long here also, not liking the looks of going into a Frankfurt with a position open.

Looks like a selloff maybe coming here in a few minutes, G/J reaching close to the resistance at 235.50 area.

Let's be patient here for a nice entry on the dip.

NOTE: price came to 235.50 prior to Frankfurt open, once we get a dip, then this is the key breaking point later during the London session (if London fights for new highs)!
  • #34,603
  • Oct 1, 2007 12:57am Oct 1, 2007 12:57am
Quoting auslanco
Bearish trend movements will be very limited unless 5sma retracements... The pair has broken the 4hr 200EMA convincingly. we may see 238+ before end of this week.
yea, I'm not counting on my 235.5 prediction from September 3rd making it past the 1 month mark.
  • #34,604
  • Oct 1, 2007 1:02am Oct 1, 2007 1:02am
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.
May i know what reasons have you in mind?
  • #34,605
  • Oct 1, 2007 1:10am Oct 1, 2007 1:10am
Quoting mansaf6
May i know what reasons have you in mind?
I prefer to enter trades within 60 pips to the Daily Pivot. Since my SL is 60 pips at all times the safest place for the SL is below the Daily Pivot.

On the previous dip there wasn't a proper 4hr 5sma retracemnet. On the new 4hr bar still the momentum is pointing downwards.

I will wait for the next 15min signal within 60pip to daily pivot. If the price keeps moving upwards I will stay out of the market .
  • #34,606
  • Oct 1, 2007 1:13am Oct 1, 2007 1:13am
Quoting monarch
Closed out my second E/J long here also, not liking the looks of going into a Frankfurt with a position open.

Looks like a selloff maybe coming here in a few minutes, G/J reaching close to the resistance at 235.50 area.

Let's be patient here for a nice entry on the dip.

NOTE: price came to 235.50 prior to Frankfurt open, once we get a dip, then this is the key breaking point later during the London session (if London fights for new highs)!

Exactly my thoughts were too. Price could retrace before starts it's journey towards 236.50 area.
  • #34,607
  • Oct 1, 2007 1:13am Oct 1, 2007 1:13am
Quoting mansaf6
May i know what reasons have you in mind?
This is the concept, Price moves up prior to the Frankfurt Open (or down on other days), then there is expectation of a dip during this hour prior to the London Open, which could take the price lower, it would be better to release the position, then re-enter at a lower price in expectation of the bullish or bearish trend that G/J and E/J are in.

I personally like to stay out of the Frankfurt, it bounces up and down with a less clear direction, but usually once it finishes and London opens, then there is a nice move in one direction (headfake), then the real session direction will begin to form, we must be patient in all this Frank/London setups, then take our positions with a pre-determined strategy of entry and exits.

I am a scalper, but most others on the thread are probably in positions during most of these periods of the bounce around. LOL.

Good Trading to ALL> Ken
  • #34,608
  • Oct 1, 2007 1:14am Oct 1, 2007 1:14am
My 15min long hit TP at 235.47. 60 pippers.
Attached Image (click to enlarge)
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  • #34,609
  • Oct 1, 2007 1:16am Oct 1, 2007 1:16am
3am?Frankfurt opens and close at what time..on pivot EST time ?
Quoting monarch
Closed out my second E/J long here also, not liking the looks of going into a Frankfurt with a position open.

Looks like a selloff maybe coming here in a few minutes, G/J reaching close to the resistance at 235.50 area.

Let's be patient here for a nice entry on the dip.

NOTE: price came to 235.50 prior to Frankfurt open, once we get a dip, then this is the key breaking point later during the London session (if London fights for new highs)!
  • #34,610
  • Oct 1, 2007 1:17am Oct 1, 2007 1:17am
Aus, upto what level do you it to retrace?
  • #34,611
  • Oct 1, 2007 1:19am Oct 1, 2007 1:19am
Quoting turn1to100
3am?Frankfurt opens and close at what time..on pivot EST time ?
Frankfurt opened 20 minutes ago, I watch it for only one hour, when London opens (1HR after Frankfurt) I forget the Frankfurt traders. LOL.

NOTE: It's looking like Frankfurt is trying to push the envelope higher here, but as AUSLANCO stated, I also will remain clear of positions until the London boys either come to take stops on the dip down, or continue this upward trend, which will retrace at a later time back to the 235.50 area.

No hurry for me here, pips are available during a complete 24 hour period everyday. LOL
  • #34,612
  • Oct 1, 2007 1:19am Oct 1, 2007 1:19am
Now we're breaking upper resistance. New daily high.
  • #34,613
  • Oct 1, 2007 1:21am Oct 1, 2007 1:21am
Thanks for AUS and MONARCH for your kind replies.
  • #34,614
  • Oct 1, 2007 1:21am Oct 1, 2007 1:21am
LOL I hear ya .....THANKS sothe frank session is only 1hr long?
Quoting monarch
Frankfurt opened 20 minutes ago, I watch it for only one hour, when London opens (1HR after Frankfurt) I forget the Frankfurt traders. LOL.
  • #34,615
  • Oct 1, 2007 1:21am Oct 1, 2007 1:21am
sorry guys i want to know if we broke the 235.50 resistance which was frankfurt high so far, or we need to wait for london open in about 40 minutes to check if there will be a reversal or a continuation?

thks
  • #34,616
  • Oct 1, 2007 1:28am Oct 1, 2007 1:28am
Quoting turn1to100
LOL I hear ya .....THANKS sothe frank session is only 1hr long?
As far as I am concerned, it has always been only 1 hour session during my trading experience.

Sorry if there are any German's here, London trumps Frankfurt in my book, and it also trumps US Session, but that is my preference.

Ken
  • #34,617
  • Oct 1, 2007 1:30am Oct 1, 2007 1:30am
Quoting anti-pip
sorry guys i want to know if we broke the 235.50 resistance which was frankfurt high so far, or we need to wait for london open in about 40 minutes to check if there will be a reversal or a continuation?

thks
Wait for AUSLANCO, he will give more information as the session progresses.

We have breached the resistance by 20 pips, and we could go up to 236.00 before seeing a retrace, either way, there are a few traders here that will give the heads up when it's time to trade.

CLARIFICATION: This is not meant to be a Thread that gives Signals/Calls, but it is considered an analysis thread that will teach the newbies many different facets of trading styles, pick your poison, and trade your hearts out newbies. LOL> KEN
  • #34,618
  • Oct 1, 2007 1:32am Oct 1, 2007 1:32am
working of my daily charts:


Greepy.......long at 235.39......1st target 238.00.

watching GU....

Glenn.

Of course I could be wrong

This is my own trades...do not copy them...make you own call's...
  • #34,619
  • Oct 1, 2007 1:32am Oct 1, 2007 1:32am
Quoting anti-pip
sorry guys i want to know if we broke the 235.50 resistance which was frankfurt high so far, or we need to wait for london open in about 40 minutes to check if there will be a reversal or a continuation?

thks
not sure your point.. There may be a reversal or may not be.. We will only know that when London starts.. either way I'm out until the price goes for a good 4hr 5sma retracemnet and cross my indicators back upwards again . I may have to wait until NY or maybe tommorrow
  • #34,620
  • Oct 1, 2007 1:34am Oct 1, 2007 1:34am
As we are seeing franfurt making highs should we see a dip on london open in 26 min. Bulls look strong though.
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