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

  • #49,781
  • Nov 12, 2007 11:44am Nov 12, 2007 11:44am
Quoting my2buoys
Hey Mo,

Forex Factory has been doing some kind of update on their system this past weekend. Some chart uploads don't immediately appear. Click on the page before this one and then click back on this page (or maybe just a refresh will do it) and the chart should appear.

M2B
hahahahaha!

that was great... thanks!
  • #49,782
  • Nov 12, 2007 11:45am Nov 12, 2007 11:45am
Quoting karmostaji
I will only go long once a candle forms above the gann hilo. It hasn't been able to do so since the bears went wild.
Unbelievable, I was going to post the exact same thing, but you beat me too to it Karmo.

Stop using your Jedi mind tricks
  • #49,783
  • Nov 12, 2007 11:47am Nov 12, 2007 11:47am
Quoting mamr


My charts show that the bearish behavior is still dominant... is that right? wrong?

Attachment
Attachment
Yes, MACD on the Daily, Weekly and Monthly is still wide open. However, MACD has crossed on the 15M and 30M and is about to cross back up on the 1H. The 4H MACD is beginning to tighten as well. 1H, 4H and Daily are all OS and bullish divergence is apparent on the 15M, 30M and 1H charts. Price could (should) shoot down to a known line of support before a solid retrace IMO, but this is Forex and anything can happen.

M2B
  • #49,784
  • Nov 12, 2007 11:48am Nov 12, 2007 11:48am
Quoting lepiricus
Unbelievable, I was going to post the exact same thing, but you beat me too to it Karmo.

Stop using your Jedi mind tricks
LOL show us some of your nice colorful charts, I enjoy them
Trade what you see, not what you think.
  • #49,785
  • Edited 12:48pm Nov 12, 2007 11:50am | Edited 12:48pm
Quoting karmostaji
LOL show us some of your nice colorful charts, I enjoy them
I agree. Lep, what is the latest regression wave (did I get that right) showing?

M2B
  • #49,786
  • Nov 12, 2007 11:59am Nov 12, 2007 11:59am
M2B any idea on how high it might retrace. Any chances of hitting 235 or 233 I have poped a couple of Karmo patience pill
  • #49,787
  • Nov 12, 2007 12:00pm Nov 12, 2007 12:00pm
Next closest support located @ 224.36
4hr pivot = 227.10
Next resistance = 228.49
  • #49,788
  • Nov 12, 2007 12:05pm Nov 12, 2007 12:05pm
Quoting karmostaji
I will only go long once a 1H candle forms above the gann hilo. It hasn't been able to do so since the bears went wild.
is it 10 loopback setting?
  • #49,789
  • Nov 12, 2007 12:06pm Nov 12, 2007 12:06pm
Quoting emasfx
is it 10 loopback setting?
yes
Trade what you see, not what you think.
  • #49,790
  • Nov 12, 2007 12:21pm Nov 12, 2007 12:21pm
well my indicators are pointing towards 230 around the 38.2% retracement level but no more than 232 if this bear is to continue
  • #49,791
  • Nov 12, 2007 12:33pm Nov 12, 2007 12:33pm
GBP/USD has bounced off the 61.8% fib of the daily. Chart below, you might have to refresh the page to see it.
Attached Image (click to enlarge)
Click to Enlarge Name: daily-gbp.gif Size: 18 KB
  • #49,792
  • Nov 12, 2007 12:39pm Nov 12, 2007 12:39pm
LOL . . . the beast dropped another 400 while I slept! Probably a good thing the NY markets are closed today, because I don't think they'd do very well. These are "interesting times" . . . hope everyone is trading carefully.

  • #49,793
  • Nov 12, 2007 12:42pm Nov 12, 2007 12:42pm
Quoting Pips_Cruiser
LOL . . . the beast dropped another 400 while I slept! Probably a good thing the NY markets are closed today, because I don't think they'd do very well. These are "interesting times" . . . hope everyone is trading carefully.

U.S stock markets are open.
Trade what you see, not what you think.
  • #49,794
  • Nov 12, 2007 12:46pm Nov 12, 2007 12:46pm
Dow is open and trading @ +69 right now...was up over +110 about an hour ago. If Nikkei follows Dow into the green later tonight we will get our retrace. I think Mr. Aus posted (approx. 9am est) that the retrace would happen tomorrow. Should have just took his word for it and turned my tradestation off till then!!!
  • #49,795
  • Nov 12, 2007 12:46pm Nov 12, 2007 12:46pm
Quoting karmostaji
U.S stock markets are open.
Yup . . . my boo boo.

  • #49,796
  • Nov 12, 2007 12:49pm Nov 12, 2007 12:49pm
anyone have ideas about the jpy gdp ?
  • #49,797
  • Nov 12, 2007 1:00pm Nov 12, 2007 1:00pm
Quoting vinesh2
M2B any idea on how high it might retrace. Any chances of hitting 235 or 233 I have poped a couple of Karmo patience pill
Sorry, I had stepped away from my computer for a bit. I would look for any major retracement to go up to the 50EMA on either the 30M (as a minimum), the 1H or the 4H charts. It's hard to give specific price targets because the 50EMAs are moving lines and I'm not sure this thing has reached its low point yet before we will see a major retracement. One other potential retrace target could be the Daily 5SMA. Obviously, the 50 Fib line would be an excellent target to look for, especially if it lines up with one of the EMAs I just mentioned. The problem is, you can't draw fibs until you have hit a bottom point. I have already redrawn my fibs three or four times on this down move because price keeps going lower. Hope this helps.

M2B
  • #49,798
  • Nov 12, 2007 1:05pm Nov 12, 2007 1:05pm
Quoting Pips_Cruiser
Yup . . . my boo boo.

I wonder if this was a last minute decision because even the TV news anchors said earlier this morning that the stock market was going to be closed. Something weird there.

M2B
  • #49,799
  • Nov 12, 2007 1:11pm Nov 12, 2007 1:11pm
Here is a look at the 4H chart showing the current Fib levels, assuming 225.11 remains the low for now. Notice the potential bullish engulfing candle forming on this 4H chart which will update at 3PM EST (in about 45 minutes).

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.gif Size: 31 KB
  • #49,800
  • Nov 12, 2007 1:16pm Nov 12, 2007 1:16pm
Quoting my2buoys
I agree. Lep, what is the latest regression wave (did I get that right) showing?

M2B

Hmm, sorry for the delay I stepped out for lunch.

I would post a chart but honestly I am getting mixed signals. 1hr and 4hr show trend continuation down. The daily and weekly regression show a retrace anytime now. I am convinced we will get a significant retrace, I just don't know when.

I guess I'll post a 4hr chart below. We see a double bottom and in the short term I see a possible retest of lows then a reversal. I am still w/o a position until I get a close above the 1hr gann then I will entertain a long position. I am not in a hurry to get burned on this one.

My 1st TP for the long is going to be the 38.2% retrace at 231.30 area. I think that is a good target for the obvious fibo level and will fill the weekend gap and the 4hr gann is currently there, although that will change of course.
Attached Image (click to enlarge)
Click to Enlarge Name: kkk.gif Size: 16 KB
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