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

  • #48,061
  • Nov 6, 2007 6:10am Nov 6, 2007 6:10am
any one going long yet??
  • #48,062
  • Nov 6, 2007 6:20am Nov 6, 2007 6:20am
Quoting gau2902
do you have any long positions open yet?
No..current positions
  • #48,063
  • Nov 6, 2007 6:34am Nov 6, 2007 6:34am
Possible Price action for the next 12hrs
Attached Image (click to enlarge)
Click to Enlarge Name: dr44.jpg Size: 70 KB
  • #48,064
  • Edited 7:31am Nov 6, 2007 7:12am | Edited 7:31am
For UJ we have 1hr QQE5 crossed upwards.. Looks like we may have 4hr QQE5 cross upwards.. That will help GJ to move up.
Attached Image (click to enlarge)
Click to Enlarge Name: uj4h.gif Size: 24 KB
It’s just emotions & money
  • #48,065
  • Nov 6, 2007 7:30am Nov 6, 2007 7:30am
Quoting Val144
For UJ we have 1hr QQE5 crossed upwards.. Looks like we may have 4hr QQE5 cross upwards.. That will help GJ to move up.

barring any dow foolishness
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #48,066
  • Nov 6, 2007 7:34am Nov 6, 2007 7:34am
?
Quoting moneymagnet
barring any dow foolishness
It’s just emotions & money
  • #48,067
  • Nov 6, 2007 7:40am Nov 6, 2007 7:40am
We haven't had a 'convincing' close above this Daily trend line though it has been tested heavily over the last week. A solid Daily close above should trigger more longs. Another Daily close beneath gives more strength to the bears.

M2B

PS- The first chart is an up close view of the Daily showing the tight resistance. The second chart is an expanded view of the Daily showing how I drew the Tom DeMark trend line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy daily.gif Size: 30 KB
Click to Enlarge Name: gbpjpy 1h.gif Size: 38 KB
  • #48,068
  • Nov 6, 2007 7:43am Nov 6, 2007 7:43am
Looks like the dow is up 42 points at this time.
  • #48,069
  • Nov 6, 2007 7:46am Nov 6, 2007 7:46am
Quoting cybernut39
Looks like the dow is up 42 points at this time.
That's the futures market. The DOW doesn't open for another 45 minutes.
  • #48,070
  • Nov 6, 2007 7:55am Nov 6, 2007 7:55am
Quoting my2buoys
We haven't had a 'convincing' close above this Daily trend line though it has been tested heavily over the last week. A solid Daily close above should trigger more longs. Another Daily close beneath gives more strength to the bears.

M2B

PS- The first chart is an up close view of the Daily showing the tight resistance. The second chart is an expanded view of the Daily showing how I drew the Tom DeMark trend line.
If you like Tom DeMark trend lines then you will like this.
Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.ex4
Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.mq4
Attached File(s)
File Type: ex4 Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.ex4   28 KB | 438 downloads
File Type: mq4 Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.mq4   22 KB | 502 downloads
  • #48,071
  • Nov 6, 2007 8:02am Nov 6, 2007 8:02am
Quoting my2buoys
We haven't had a 'convincing' close above this Daily trend line though it has been tested heavily over the last week. A solid Daily close above should trigger more longs. Another Daily close beneath gives more strength to the bears.

M2B

PS- The first chart is an up close view of the Daily showing the tight resistance. The second chart is an expanded view of the Daily showing how I drew the Tom DeMark trend line.
bro..do you mean now is favorable for going south?
  • #48,072
  • Nov 6, 2007 8:02am Nov 6, 2007 8:02am
http://news.bbc.co.uk/1/hi/business/7070935.stm
  • #48,073
  • Nov 6, 2007 8:06am Nov 6, 2007 8:06am
Quoting wired2199
If you like Tom DeMark trend lines then you will like this.
Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.ex4
Ind_TD_DeMark_3_1_LA_Mod_03B_AIME.mq4
Thanks, Wired, I'll check it out.

M2B
  • #48,074
  • Nov 6, 2007 8:08am Nov 6, 2007 8:08am
Quoting alanz76
bro..do you mean now is favorable for going south?
OK. Look. I wrote it as plain as I know how. Please read the post again. Based upon what I wrote, no decision should be made to go long or short (based solely upon this chart) until the Daily candle closes (which on this chart is 0100 GMT).

M2B
  • #48,075
  • Nov 6, 2007 8:09am Nov 6, 2007 8:09am
Guys..just an idiot question..is it normal for GU to go up while GJ is seemingly go down..as these two usually have direct correlation..or GJ is retracing for a while to shoot up above?
  • #48,076
  • Nov 6, 2007 8:11am Nov 6, 2007 8:11am
the right shoulder of a head and shouders formation is forming now on the weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyweeklydivergence3.gif Size: 21 KB
  • #48,077
  • Nov 6, 2007 8:13am Nov 6, 2007 8:13am
Have a look at what USD is doing elswhere?
Gone to a better place
  • #48,078
  • Nov 6, 2007 8:18am Nov 6, 2007 8:18am
Quoting abawpips
Guys..just an idiot question..is it normal for GU to go up while GJ is seemingly go down..as these two usually have direct correlation..or GJ is retracing for a while to shoot up above?
The direct correlation between the GBP/USD and GBP/JPY is the GBP. If the GBP is moving the market then these two will move in tandem, as a general rule. However, during the NY session, the USD is normally the driver of the market, whether it's weak or strong. In this case, there is no direct correlation between the GBP/USD and GBP/JPY since the USD only appears in one of them. During NY you would be better off watching the USD/JPY and see what it is doing in order to determine what GBP/JPY will probably do. In many cases, during the NY session, the GBP/USD and GBP/JPY will actually move opposite of each other for that reason.

M2B
  • #48,079
  • Nov 6, 2007 8:21am Nov 6, 2007 8:21am
Quoting my2buoys
The direct correlation between the GBP/USD and GBP/JPY is the GBP. If the GBP is moving the market then these two will move in tandem, as a general rule. However, during the NY session, the USD is normally the driver of the market, whether it's weak or strong. In this case, there is no direct correlation between the GBP/USD and GBP/JPY since the USD only appears in one of them. During NY you would be better off watching the USD/JPY and see what it is doing in order to determine what GBP/JPY will probably do. In many cases, during the NY session, the GBP/USD and GBP/JPY will actually move opposite of each other for that reason.

M2B
excellent observation....
  • #48,080
  • Nov 6, 2007 8:21am Nov 6, 2007 8:21am
Quoting my2buoys
OK. Look. I wrote it as plain as I know how. Please read the post again. Based upon what I wrote, no decision should be made to go long or short (based solely upon this chart) until the Daily candle closes (which on this chart is 0100 GMT).

M2B
THANKS..i 'll wait and see the way it will go
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