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

  • #37,881
  • Oct 8, 2007 6:44pm Oct 8, 2007 6:44pm
It looks like we may get a 4hr/1hr strategy short by London today.. Weekly 5sma retracement is due. Therefor If we get a strategy trade 235.50 area could be a good TP target. ,
  • #37,882
  • Oct 8, 2007 6:45pm Oct 8, 2007 6:45pm
Quoting mike w
Easy enough! Thanks again. I am going to look into this and see what I get out of it. Not much of a fan of indicators.
If you use nothing else of Aus's strategies, use his method of reading momentums and 5-sma's on the different time frames. You can predict damn near to the pip where retracements will stop.
  • #37,883
  • Oct 8, 2007 6:47pm Oct 8, 2007 6:47pm
Quoting karmostaji
I say price will go diagonal at Afghanistan session open
Yeah..what Karm said
  • #37,884
  • Oct 8, 2007 6:48pm Oct 8, 2007 6:48pm
Quoting markam
If you use nothing else of Aus's strategies, use his method of reading momentums and 5-sma's on the different time frames. You can predict damn near to the pip where retracements will stop.
Excellent, thank you. Have you noticed throughout your experience of using the 5 SMA that it does almost the same job as the 38.2 Fibonacci retracement level if used correctly? In the last few seconds, I have been testing it and have noticed that almost every time it lines up accordingly with that fib level. That is, IF you calculate the fib levels correctly.
I dream, therefore I become.
  • #37,885
  • Oct 8, 2007 6:48pm Oct 8, 2007 6:48pm
Quoting Geppy
See that's your problem. I don't predict the markets, I just react to what circumstances it presents me with. I guess that's why I make money . . .
Thats the only way to trade Geppy...See..another thing in common..lol
  • #37,886
  • Oct 8, 2007 6:49pm Oct 8, 2007 6:49pm
why are there always bitch fights goin on in here??

frustration has seemed to have got to a few

who's got the bong??

puff puff pass
  • #37,887
  • Oct 8, 2007 6:50pm Oct 8, 2007 6:50pm
Quoting Zoran
Ahh, there you are. Can you see a potential H&S on the 15 min? You would be shorting it about now right?
Definately not Zoran. Just becasue you see a H/S doesnt mean you short. I trade witht he tren. If the trend on the 1 hr was short..I would be shorting the h/s at the top of the rt shoulder.But..becasue the trend is up , I will not short this pair.
  • #37,888
  • Oct 8, 2007 6:50pm Oct 8, 2007 6:50pm
Quoting PipChick
Thats the only way to trade Geppy...See..another thing in common..lol

and we have a love story in here---lol jkin

chicks--did u get the short on the H/S formation on 15min yesterday??
worked out nicely !
  • #37,889
  • Oct 8, 2007 6:51pm Oct 8, 2007 6:51pm
Quoting Hakuna Matata

frustration has seemed to have got to a few

who's got the bong??

puff puff pass
Words to live by. I think this needs to go in the quotes page haha
I dream, therefore I become.
  • #37,890
  • Oct 8, 2007 6:52pm Oct 8, 2007 6:52pm
Hey PipChick, thanks for leaving me high and dry with these guys today. You gonna be around tonight? If so get on Y!
check out my blog: forexmademillionaire dot com
  • #37,891
  • Oct 8, 2007 6:52pm Oct 8, 2007 6:52pm
Quoting PipChick
Definately not Zoran. Just becasue you see a H/S doesnt mean you short. I trade witht he tren. If the trend on the 1 hr was short..I would be shorting the h/s at the top of the rt shoulder.But..becasue the trend is up , I will not short this pair.
A H&S is a reversal pattern, not a continuation pattern.
  • #37,892
  • Oct 8, 2007 6:52pm Oct 8, 2007 6:52pm
Quoting Hakuna Matata
and we have a love stort in here---lol jkin

chicks--did u get the short on the H/S formation on 15min yesterday??
worked out nicely !

neckline busted at 1315 est (if im gettin my time right)
  • #37,893
  • Oct 8, 2007 6:54pm Oct 8, 2007 6:54pm
Quoting markam
Premarket numbers for the stock market. The Nikkei is expected to open above fridays close (the market was closed on Monday). An up market during the asian trading hours will correlate somewhat with GJ going up. It is not nearly as close as the US market correlation, but I don't like being in a position opposite the equity market.

Last week you stated that futures (aka premarket) equity indexes have no bearing on yen crosses.
  • #37,894
  • Oct 8, 2007 6:55pm Oct 8, 2007 6:55pm
Quoting auxesis
A H&S is a reversal pattern, not a continuation pattern.
Wowza...I need to proof my posts ...sp? all over the place.
  • #37,895
  • Oct 8, 2007 6:56pm Oct 8, 2007 6:56pm
I know a few have talked about divergence taking price down here the last day or so, but I truly think it's getting ready to happen. I posted a 4H chart showing the beginning of this in the Weekly Analysis and Predictions thread over the weekend, but it now seems to be fleshing itself out. We have already seen small down movements which were indicated by bearish divergence on the 15M and 30M charts. The 1H, which is also showing divergence, has also shown a small downward movement, but I don't think even it is complete. The higher the TF showing divergence, the greater the following move will be. Some of us have been talking about a good size downward correction since last weekend. Though divergence should not be used by itself as an entry indicator, it is definitely a powerful confirming indicator and in some cases can even show a move setting up, which I believe is happening here. I realize anything can happen in the Forex market but this next bear move could be the 300 to 400 pip correction some of us have anticipated. Below are the 1H and 4H charts. Notice especially the divergence on MACD to price on the 4H chart. The second 'hill' on MACD has begun to turn down. I am going to look for a good entry on a smaller TF. Aus's 15M strategy might provide just that. Let's see what happens.

M2B
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  • #37,896
  • Oct 8, 2007 6:57pm Oct 8, 2007 6:57pm
Quoting Hakuna Matata
neckline busted at 1315 est (if im gettin my time right)
I dont like to scalp Hak and I only play the h/s in the direction of the trend. From past experience, if the g/j is in an uptrend and a person tries to short it, a lot of the time it will bounce hard off of a support only to take back your pips and then some. So I stick with the trend.
  • #37,897
  • Oct 8, 2007 6:58pm Oct 8, 2007 6:58pm
Who all has shorts running?
  • #37,898
  • Oct 8, 2007 6:58pm Oct 8, 2007 6:58pm
bingo.
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  • #37,899
  • Oct 8, 2007 7:03pm Oct 8, 2007 7:03pm
Quoting PipChick
Who all has shorts running?
I do ... as long as the price is below 239.38 I'm sort.
  • #37,900
  • Oct 8, 2007 7:03pm Oct 8, 2007 7:03pm
Quoting markam
The 50 points was the premarket movement. GJ doesn't react to the opening movement, as it is already priced in. If the dow drops now, GJ will follow.
Be consistent matey..One day you argue this point with me, The next day you are saying the exact same thing as me.

Cheers!
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