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Auslanco 15min GBP/JPY startegy 630 replies

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

gene22 it looks like wave 2 is greater than wave 1 and wave 3 is smaller than wave 1, just learning on this thread so i could be wrong.
regards
Quoting gene22
Here is the chart
Quoting gene22
The reason for this rhetoric is a very impotrant level of 108, in my experience they like to do a preemptive round of talks before an actual intervention, so 108 is a given, the problem is that breaking that level brings us to 105 and more likely 102 which is a very undesirable level for BOJ. A point to note that at this levels it will have to be 1st a massive intervention, 2nd repeated at least twice as it never works from the first time and 3rd but not least the interventions of the past were relatively short lived on the grand scale. So the best we can do is be prepared when the yen hits 108, at that point we could see a lot of fireworks. There are strategies on how to profit from intervention. I usually try to have the buy stops placed at 50 to 75 pips from the current price as it moves down, once it activates it would be advisable to exit at least 60% after the initial 150-200 pip move.
Gene,
Once again your posts are intriguing and sooo informative to those of us who are learning to try to tame the beast or at least understand it. It is just more to learn than a person ever thought possible. I thank you for advancing my education and opening my mind to think on a different level. And please answer my and another persons ?? asked on Friday. You were probably already in the country when they were asked.
All the best Nikki
Quoting gene22
Here is the chart
Gene

is this on the monthly or weekly. couldnt get the chart to enlarge

thanks

Tina
The Nikkei opened negative, as expected since the yen is a good bit stronger than when the market closed yesterday. I expect that it will move up later in the session.
Tomorrow is the day for GBP with positive news...may be this is the time to go for a long against the strong down trend!
9:30am GBP http://www.forexfactory.com/images/m...mpact_high.gif Average Earnings Index +Bonus q/y

4.0% 3.7%
9:30am GBP http://www.forexfactory.com/images/m...act_medium.gif Claimant Count Change

-6.2K -12.8K
9:30am GBP http://www.forexfactory.com/images/m...impact_low.gif Unemployment Rate

5.4% 5.4%
All waiting for JPY interest rate annountment?
Quoting kenneith
gene22 it looks like wave 2 is greater than wave 1 and wave 3 is smaller than wave 1, just learning on this thread so i could be wrong.
regards
kenneith,

This is not an elliot wave pattern, but a well defined pattern called a wolfe wave.
Well, it looks like price did indeed bounce off of that Weekly 100SMA around 224.50 (price actually hit 224.16 on my chart). My Daily Chart, which changed at 7PM EST, is very bullish. It wouldn't surprise me to see price move up to touch the Daily 5SMA, around 230, before making any new lows. However, this is Forex, and Japan's news tonight could cause more volatility to the downside.

M2B
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Quoting my2buoys
Well, it looks like price did indeed bounce off of that Weekly 100SMA around 224.50 (price actually hit 224.16 on my chart). My Daily Chart, which changed at 7PM EST, is very bullish. It wouldn't surprise me to see price move up to touch the Daily 5SMA, around 230, before making any new lows. However, this is Forex, and Japan's news tonight could cause more volatility to the downside.

M2B
Good catch on that 100sma M2B, I had one on my chart (purple line) but didnt look at my weekly till your post.

There was the 2nd deviation of the regression channel that has confluence there with the 100sma on the weekly. I am hopeful of a retrace to at least the 38.2% level at 230.73. Very hopeful it will go to the 5sma that has a confluence of the magic 50% fibo at 232.76.
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Hi guys

I am still learning a lot from you guys and wondered if any of the experts have an opinion on the Head and shoulders pattern on the Weekly G/J.

there are some differing opinions out there and wondered what everyone things in terms of

1) what point confirms this is a true head and shoulder pattern

2) what point confirms that this is going down with a high probablity

thanks folks

Tina
Interesting chart I came across showing seasonal bull/bear ish of G/J back to 1990.
Attached Image (click to enlarge)
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I had a few resistance levels which we just blew straight through. Looks like the longs are on.
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Quoting birdt
I had a few resistance levels which we just blew straight through. Looks like the longs are on.
I'm long, but I would feel a whole helluva lot better about it if we get an hourly close 227+
lepricus,
looks like we are headed in that direction. Why 227? Would you consider adding more longs with a close above that number? Not that I take anymore myself...I'm about as long as my heart can handle and have been since 230.
I'm feeling a helluva lot better already!

This volatility at this time is remarkable. We came down so quick that there doesn't seem to be much to stop the price heading back up at a similar rate. I was going to get an early night.........
Looks like we might get a candle close above the 30m 50ema.
who cares about MNF---it's a crummy game anyway!
Quoting brucehvn
Looks like we might get a candle close above the 30m 50ema.
Nope closed right at the 50ema 30m. Could go back down from here. We shall see.
Quoting FX-Petra
lepricus,
looks like we are headed in that direction. Why 227? Would you consider adding more longs with a close above that number? Not that I take anymore myself...I'm about as long as my heart can handle and have been since 230.
227 had been tough resistance all day, an hourly close above that and I was going to go long is what I posted before. I kinda jumped the gun on this on and got in at 225 based on 4hr momentum 2 hrs ago. I moved my stop to BE so I am going to try to ride this retrace up to the gap at least.
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