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

  • #38,981
  • Oct 10, 2007 10:08pm Oct 10, 2007 10:08pm
I think this move upwards to 239.17 may have just been a retracement from the last move down. Hopefully now we'll see more downwards movement throughout the night. Any other opinions that could give me something to think about?
I dream, therefore I become.
  • #38,982
  • Oct 10, 2007 10:09pm Oct 10, 2007 10:09pm
Quoting mktjong
Well, since it is quite quiet, would like to throw in something. I changed my IchimokuTjong settings back to original (9,26,52) just to be conservative and safer http://www.forexfactory.com/images/icons/icon10.gif
But this thing is no good without Auslanco QQE
Thanks.
Which time-frame(s) do you primarily use them on? If you don't mind me asking.
  • #38,983
  • Oct 10, 2007 10:09pm Oct 10, 2007 10:09pm
Quoting bmwboyee
yes i am and yes it is.
somebody posting but not me
  • #38,984
  • Oct 10, 2007 10:10pm Oct 10, 2007 10:10pm
Quoting birdt
Interesting analysis, but I don't think we'll have any surprises with the BoJ announcement so it's already factored into the price. I'm still thinking this current upward movement is just a small correction and then we'll be heading back down to a modest target around the low 238's, then we'll see where we go from there. This is what my indicators are telling me anyway, and they definitely ain't 100% accurate!
I don't mean to offend you, but I think we all know that nothing is ever fully priced into the market. I know the BOJ isn't hiking and they aren't cutting either. But honestly, what do you think Yen crosses will do when they say "we're not hiking and we don't plan to anytime soon" as they always do? I'll tell you one thing, it definitely wouldn't logically go lower and considering the retracement we had today in the midst of an obvious bull market, I think it will only be catalyst to start the next leg up.
check out my blog: forexmademillionaire dot com
  • #38,985
  • Oct 10, 2007 10:11pm Oct 10, 2007 10:11pm
Quoting bmwboyee
You think we will continue the march up? seems like this thing has gotten a little bounce
I'll be honest with you. At the moment I'm a little perplexed. Look at the last two Daily candles; pin bars in opposite directions. I never posted it in the Weekly analysis thread, but by Monday of this week I began thinking that this week's candle might end up being a doji. Right now price is basically right where it started the week. I think we still have at least a couple more weeks of bullishness left before any major move down, but this week might end up being a week of consolidation. You can read Aus's Weekly analysis thread to get more details on why I see more bullishness in the weeks ahead. I don't want to waste space here on it.

M2B
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  • #38,986
  • Oct 10, 2007 10:11pm Oct 10, 2007 10:11pm
Quoting mktjong
Well, since it is quite quiet, would like to throw in something. I changed my IchimokuTjong settings back to original (9,26,52) just to be conservative and safer http://www.forexfactory.com/images/icons/icon10.gif
But this thing is no good without Auslanco QQE
Thanks.
Are you in a Ichmoku based trade right now??
  • #38,987
  • Oct 10, 2007 10:11pm Oct 10, 2007 10:11pm
Quoting 59fender
I expect this to move to 239.50 before moving down towards 237.50
why 239.50 if you dont mind my asking? That is the top of a resistance level, but other than that I am not getting anything out of that level. I doubt we could see that high of a price before more downwwards movement.
I dream, therefore I become.
  • #38,988
  • Oct 10, 2007 10:14pm Oct 10, 2007 10:14pm
Quoting rodders
Are you in a Ichmoku based trade right now??
No, sensei .. already hit my 50 pips tp earlier.
I only trade 15 min chart
  • #38,989
  • Oct 10, 2007 10:15pm Oct 10, 2007 10:15pm
Quoting mike w
why 239.50 if you dont mind my asking? That is the top of a resistance level, but other than that I am not getting anything out of that level. I doubt we could see that high of a price before more downwwards movement.
Never doubt this pair Mike
check out my blog: forexmademillionaire dot com
  • #38,990
  • Oct 10, 2007 10:17pm Oct 10, 2007 10:17pm
Quoting mktjong
No, sensei .. already hit my 50 pips tp earlier.
I only trade 15 min chart
Whew!! Thought i missed something!! Did you test thenew faster settings? Is that why you switched back??
  • #38,991
  • Oct 10, 2007 10:17pm Oct 10, 2007 10:17pm
Quoting Geppy
Never doubt this pair Mike
If I traded without a doubt, my friend, I would be incredibly broke... haha
I dream, therefore I become.
  • #38,992
  • Oct 10, 2007 10:18pm Oct 10, 2007 10:18pm
Quoting Geppy
I don't mean to offend you, but I think we all know that nothing is ever fully priced into the market. I know the BOJ isn't hiking and they aren't cutting either. But honestly, what do you think Yen crosses will do when they say "we're not hiking and we don't plan to anytime soon" as they always do? I'll tell you one thing, it definitely wouldn't logically go lower and considering the retracement we had today in the midst of an obvious bull market, I think it will only be catalyst to start the next leg up.
I can't fault your reasoning geppy, I just don't see any big swings as a result of this 'news' in particular, although other market forces could well be lurking in the background that I had not considered. I concur that the pair is in an uptrend in the main and I certainly wouldn't want to be hanging out too far on the wrong side of it, but even you can't deny that the weekly chart could suggest something might happen in the next week or two
  • #38,993
  • Oct 10, 2007 10:19pm Oct 10, 2007 10:19pm
Quoting birdt
I can't fault your reasoning geppy, I just don't see any big swings as a result of this 'news' in particular, although other market forces could well be lurking in the background that I had not considered. I concur that the pair is in an uptrend in the main and I certainly wouldn't want to be hanging out too far on the wrong side of it.
I don't expect swings either, but I do expect it to give reassurance that the uptrend is still valid and it will simply continue that trend.
check out my blog: forexmademillionaire dot com
  • #38,994
  • Oct 10, 2007 10:20pm Oct 10, 2007 10:20pm
Quoting mike w
why 239.50 if you dont mind my asking? That is the top of a resistance level, but other than that I am not getting anything out of that level. I doubt we could see that high of a price before more downwwards movement.
the fact that we are below 240 yen leeds me to believe we will head towards 237.50 the fact we are above 239 yenmakes me lean towards 239.50 if I were to short here it would most likely pop up-wards causing me pain so I will wait to se if it does in fact hit my level if not I have risked nothing
  • #38,995
  • Oct 10, 2007 10:20pm Oct 10, 2007 10:20pm
Quoting rodders
Whew!! Thought i missed something!! Did you test thenew faster settings? Is that why you switched back??
Yes, today is the first time using this faster settings but I feel more comfortable with the original's :-)
  • #38,996
  • Oct 10, 2007 10:21pm Oct 10, 2007 10:21pm
Quoting 59fender
the fact that we are below 240 yen leeds me to believe we will head towards 237.50 the fact we are above 238 makes me lean towards 239.50 if I were to short here it would most likely pop up-wards causing me pain so I will wait to se if it does in fact hit my level if not I have risked nothing
Great thanks 59. That is excellent risk aversion right there my friend.
I dream, therefore I become.
  • #38,997
  • Oct 10, 2007 10:23pm Oct 10, 2007 10:23pm
This move shouldn't be a surprise for anyone since the current H4 candle was opened the momentums were pointing a retracement, which meant the gann is not going to be breached on this H4 candle. Also at that level there lays sma100 on H1 which price could not close under. A retracement to sma5H4 is wellcomed for the moment. On the other hand going long woud be a bit risky since the price is below the asia pivot and QQE5 on H1 being bearish. Therefore after this retracement, a few pips for scalp, it seems like it is ranging for the moment.

For a safe short we need the H4 confirmation and cross for the main strategy and/or a close below the ma or wait for the scalp strategy to give the signal. For a safe long trade , we need the price over the pivot and the H1 cross for the scallp strategy, or for the H+/H1 we need H1 cross and confirmation
  • #38,998
  • Oct 10, 2007 10:24pm Oct 10, 2007 10:24pm
Quoting mike w
Great thanks 59. That is excellent risk aversion right there my friend.
If you don't play, you can't lose. A great money management strategy!
  • #38,999
  • Oct 10, 2007 10:35pm Oct 10, 2007 10:35pm
going long here does not "seem" to risky we have a higher low and a higher high on the daily chart as long as it is realized this would only be a scalp with a tight stop and not expecting to much with the long
  • #39,000
  • Oct 10, 2007 10:35pm Oct 10, 2007 10:35pm
Aus might be really sleepy ......

I see FXManager trade for USD/JPY instead of GBP/JPY ...... long.........
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