me & markam are having a party 
Trade what you see, not what you think.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #48,324
- Nov 6, 2007 11:58pm Nov 6, 2007 11:58pm
- Joined Sep 2007 | Status: Trader | 1,673 Posts | Online Now
- #48,325
- Nov 6, 2007 11:59pm Nov 6, 2007 11:59pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #48,327
- Nov 7, 2007 12:10am Nov 7, 2007 12:10am
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
Using correlation, its more like a weakening of the dollar judging from the other US pairs, aye? I'm just a noob, I think you shd have a better analysis of this
It looks like the yen pairs were falling, especially UJ, and they dragged GJ down. The two currency pairs that affect GJ most are UJ and GU. If they're both moving the same direction, GJ virtually always follows. In this case GU stayed high, but UJ did the falling. It went as far as 113.82. If GU can do some retracing now, it can help bring GJ even lower. But it's looking pretty strong (probably that weak dollar you mentioned).
Thanks for keeping me on my toes!
- #48,328
- Nov 7, 2007 12:16am Nov 7, 2007 12:16am
- | Joined Aug 2007 | Status: The PipsMaker | 290 Posts
Smarty!
It looks like the yen pairs were falling, especially UJ, and they dragged GJ down. The two currency pairs that affect GJ most are UJ and GU. If they're both moving the same direction, GJ virtually always follows. In this case GU stayed high, but UJ did the falling. It went as far as 113.82. If GU can do some retracing now, it can help bring GJ even lower. But it's looking pretty strong (probably that weak dollar you mentioned).
Thanks for keeping me on my toes!
May the Pips be with You Let's Pimp some Pips!
Let's Pimp some Pips!
- #48,331
- Nov 7, 2007 12:35am Nov 7, 2007 12:35am
- | Joined Aug 2007 | Status: The PipsMaker | 290 Posts
just remember that gj = g/u x u/j
first time I came across thisNow the price just bounce off weekly pivot....double bottom formation.. it might a trend reversal...just beware
May the Pips be with You Let's Pimp some Pips!
Let's Pimp some Pips!- #48,332
- Nov 7, 2007 12:35am Nov 7, 2007 12:35am
- | Joined Aug 2007 | Status: Senior Member | 1,798 Posts
missed my short target by 3 pips ...
To Live is the rarest thing in the world , Most people exist , that is all
- #48,336
- Nov 7, 2007 12:42am Nov 7, 2007 12:42am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #48,337
- Nov 7, 2007 12:43am Nov 7, 2007 12:43am
- Joined Jun 2007 | Status: Know that you don't know. | 2,943 Posts
ovaforty! I just read your latest posts over at HD forum! If I'd known you were here I'd have been paying closer attention to this thread ages ago!
That head&shoulders taking shape on the G/J weekly is a sight to behold. Visible on the daily too. I may be jumping the gun but based on a DeMark sell signal, fibos, and this W1 H&S, I'm short in the H4 TF. 238.73 (fib 23.6%) with a 1st target of 237.25 (just shy of fib 38.2%). 2nd target will be 235.80 (fib 50%), etc.
Europe opens about the time I hit the sack so I've set a 100p SL. You know, just in case.
That head&shoulders taking shape on the G/J weekly is a sight to behold. Visible on the daily too. I may be jumping the gun but based on a DeMark sell signal, fibos, and this W1 H&S, I'm short in the H4 TF. 238.73 (fib 23.6%) with a 1st target of 237.25 (just shy of fib 38.2%). 2nd target will be 235.80 (fib 50%), etc.
Europe opens about the time I hit the sack so I've set a 100p SL. You know, just in case.
