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

  • #46,421
  • Oct 31, 2007 6:12pm Oct 31, 2007 6:12pm
If 240.20 holds we could see a reversal at the opening of the London session. Momentum is heading down on the H4 and h15
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  • #46,422
  • Oct 31, 2007 6:12pm Oct 31, 2007 6:12pm
Quoting auslanco
I got the dollar index on my e-sginal. But I dont have access to it unytil I get back from my holidays.
Cool, as I only have up to 1977, if you'll have a minute after you get back let me know what are the main supports we have on the way down, if you can, thanks
  • #46,423
  • Oct 31, 2007 6:13pm Oct 31, 2007 6:13pm
Quoting fxslinger
Do you think the circular resistance will hold?

Also, look at the macd histogram (5,500,50) on the 15 minute chart. It usually nails the big moves, with a few headfakes thrown in.
HMM.. I dont even know whats the circular resistance is.. Maybe someone else can help you. Looks like the retraco has begun.
  • #46,424
  • Oct 31, 2007 6:15pm Oct 31, 2007 6:15pm
Quoting gene22
Cool, as I only have up to 1977, if you'll have a minute after you get back let me know what are the main supports we have on the way down, if you can, thanks
I think few weeks ago Markam posted a DI chart dating back to 1950's .
  • #46,425
  • Oct 31, 2007 6:17pm Oct 31, 2007 6:17pm
Hi Aus,

The new monthly momentum on MT4 platform shows weak bearish for 1C and 10C, and weak bullish for 14C. How would you interpret that ?

Cheers,
Foster
  • #46,426
  • Oct 31, 2007 6:21pm Oct 31, 2007 6:21pm
THANK YOU VERY MUCH MR.AUS
you really help me after that mess happened after the release of IR
if you are interested have a look at the g/u it has all 1c,10c,14c all bearish in daily and 4hand at 1h tf's
  • #46,427
  • Oct 31, 2007 6:28pm Oct 31, 2007 6:28pm
Hey Aus,i have a question and wanted to ask you,despite of its stupid meaning.I'm using the momentum from long time already and think that i can read most of its calls,but never had on my mind the numbers on its right.Could you pls tell me if this is their right option by looking the attached immage of the VT charts?
Thanks
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  • #46,428
  • Oct 31, 2007 6:29pm Oct 31, 2007 6:29pm
Quoting Foster
Hi Aus,

The new monthly momentum on MT4 platform shows weak bearish for 1C and 10C, and weak bullish for 14C. How would you interpret that ?

Cheers,
Foster

Monthly is strong bearish.. and weak 14C bullish indicating a monthly high's 242.30(5sma High) and a strong bounce back down to 5sma Low(231)
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  • #46,429
  • Oct 31, 2007 6:37pm Oct 31, 2007 6:37pm
Quoting I.Y.I
Hey Aus,i have a question and wanted to ask you,despite of its stupid meaning.I'm using the momentum from long time already and think that i can read most of its calls,but never had on my mind the numbers on its right.Could you pls tell me if this is their right option by looking the attached immage of the VT charts?
Thanks
dont worry about the values.Value changes with the price action. The only value you should use is the zero . The angle of the bend is the most important .
  • #46,430
  • Oct 31, 2007 6:40pm Oct 31, 2007 6:40pm
I've been lurking for a long while at this great thread, and thought I would add something that has been helping me in my trades. Straight trendlines are good, but if you look at a longer timeframe, you will see that GBPJPY moves in cycles or polytrendlines.

A search on google for polytrendline resistance can explain it better than I can.

Anyway, thank you for all your great insights, it makes it more fun to trade forex while reading this thread.


Quoting auslanco
HMM.. I dont even know whats the circular resistance is.. Maybe someone else can help you. Looks like the retraco has begun.
  • #46,431
  • Oct 31, 2007 6:42pm Oct 31, 2007 6:42pm
Quoting auslanco
dont worry about the values.Value changes with the price action. The only value you should use is the zero . The angle of the bend is the most important .
Yeah i have the red zero line on my charts and btw if the momentum is bellow it,by pointing south with a candle confirmation,we have an xtra bearish trend/reversal right?
  • #46,432
  • Oct 31, 2007 6:43pm Oct 31, 2007 6:43pm
i do think retracement might start only at frankfurt ... cos they need to keep the yen in high number during the asian session ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #46,433
  • Oct 31, 2007 6:45pm Oct 31, 2007 6:45pm
Quoting maro
THANK YOU VERY MUCH MR.AUS
you really help me after that mess happened after the release of IR
if you are interested have a look at the g/u it has all 1c,10c,14c all bearish in daily and 4hand at 1h tf's

Daily Momentum:

All USD based pairs are bearish today
USD/JPY and GJ shows a retracement down to 5sma Close or High and a bounce. (possible range)
  • #46,434
  • Oct 31, 2007 6:49pm Oct 31, 2007 6:49pm
Hi Aus,

Thanks for the info. Much appreciated. Just wondering if there are a specific set of "momentum rules" that you follow when interpreting this indicator ? For example, with the monthly strong bearish (1C and 10C), but the monthly weak 14C bullish, why does that tell you that we'll see the monthly 5SMA high before bouncing back to the monthly 5SMA low ?

Just trying to learn...

Foster.
  • #46,435
  • Edited 7:13pm Oct 31, 2007 7:01pm | Edited 7:13pm
Quoting Foster
Hi Aus,

Thanks for the info. Much appreciated. Just wondering if there are a specific set of "momentum rules" that you follow when interpreting this indicator ? For example, with the monthly strong bearish (1C and 10C), but the monthly weak 14C bullish, why does that tell you that we'll see the monthly 5SMA high before bouncing back to the monthly 5SMA low ?

Just trying to learn...

Foster.
It doest tell me in that order .. First we could see 231 and then 242 or we may get a bounce from the mid point to reach the high's and then 231. Thats why you have to use the smaller intraday TF and more solid indicators such as QQE to ride the intraday waves.
  • #46,436
  • Oct 31, 2007 7:45pm Oct 31, 2007 7:45pm
Quoting moneymagnet
i hope their system works for you but from people i know who had it and from what i read they are scammers

Thanks for the support! As with anything else, it's a tool to help with trading. Understanding how to use it effectively is a challenge. That's why I rely heavily on this forum to confirm my trades. But I have to say, if I would've discovered this forum sooner I would've never bought the product. Ironic enough, it was the instructor selling the product that directed me to this forum. Go figure!
  • #46,437
  • Oct 31, 2007 7:56pm Oct 31, 2007 7:56pm
I understand the tech reasons for having a big fall (somewhat) But for what reason fundimentaly would we get a retrace back to say 210? Japan doesn't seem to care about a weak Yen. No one seems to have any issues with borrowing money from Japan to fuel world stockmarkets. Aside from Japan doing SOMETHING to stop the carry trade, for what reason would a large fall to 220-210 happen?

Cpreacher
  • #46,438
  • Oct 31, 2007 7:58pm Oct 31, 2007 7:58pm
Quoting jarroo
What does Price Action tell you on the weekly, daily, 4hour ?

Jim
Not sure if that's a genuine question or if your pointing out the obvious for me. But to answer it, weekly, daily & hourly are bullish as indicated on the lights. I know I'm going against a strong trend. But I felt that the risk to reward (1:3) was worth a shot. I could get out now with -6 pips, but I'll hang on to see what it gives us in the next 3 mins.
  • #46,439
  • Oct 31, 2007 8:04pm Oct 31, 2007 8:04pm
Quoting Zoran
The tools that most people use here are free. Check Auslanco's signature for his other threads with information on setting it up and the rules for trading it.
Thanks Zoran! That's definitely on my to do list before I blow up my account
  • #46,440
  • Oct 31, 2007 8:34pm Oct 31, 2007 8:34pm
If the polytrendline holds, we might see 239 in the next 3 hours. I'm leaning short at least from 239.91 with an SL of 20 pips. Also the MACD histogram crossed down and the red DMI crossed up.
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