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

Here's come the bears!

Not sure what point you are making here??? Plese explain. . .
It's currently at 226.39 and dropping. . .

It may bounce off 226.20's and go back up for a bit then back down to 225.63 which is close to the low from earlier session. We may even test 224.70's if there is enough momentum. . .

4hr momentum all turning bearish. . .

Lets see how this plays out. . .

Guys take a look on GU on 30 mins chart. So Cute.... Triangle and Trend Continuation Chart Pattern...

how do u use the converter. cant figure out hw to get 8 or 12 hr chart w/it

Wells Fargo CEO: Housing slide not over

NEW YORK Wells Fargo & Co. President and Chief Executive John Stumpf said Thursday the housing market is experiencing its worst decline since the Great Depression.
Stumpf said during a presentation at the Merrill Lynch Banking & Financial Services Conference that rapidly declining housing prices are likely to put even more pressure on delinquencies and defaults.
"I don't think we're in the ninth inning of unwinding this," Stumpf said, relating the declining housing market to a baseball game. "If we are, it's going to be an extra-inning game."
Stumpf said the weakening market is due to a combination of factors, ranging from too much demand for homes during the first half of the decade to an increase in fraudulent loans and risky loan products.
http://www.businessweek.com/ap/finan.../D8SU5N7O1.htm

U.S. Stocks Decline; Wells Fargo, Exxon, J.C. Penney Retreat

Nov. 15 (Bloomberg) -- U.S. stocks fell for a second day, led by banks and energy producers, after Wells Fargo & Co. said the housing market is the worst since the Great Depression and oil prices slumped on an unexpected rise in inventories.
Wells Fargo, the second-largest U.S. mortgage lender, dropped after saying it is ``not immune'' to the slowdown in housing. Exxon Mobil Corp. and Chevron Corp. declined after crude oil slid more than $1 a barrel. J.C. Penney Co. tumbled to an almost three-year low after the third-biggest department-store chain reported a smaller profit and cut its earnings forecast. http://www.bloomberg.com/apps/news?p...T6Y&refer=home

Put the converter file in ur expert/indicator folder.
Restart your MT4
Open ur GJ chart, go to Indicators> Custom> converter
Then go to File> Open Offline
You'll get a list, look for 8h GJ chart, click it n Open

comeinvest - Nice pattern on G/U, I'm looking for a pullback to the trendline 55 - 60 area then watch to see if the real drop starts and not just a fakeout. 1pm est 11/15

it's instruction is in text attached

I had done all the above except when i go to my indidcators on my mt4 platform all i see is "period converter", no 8hr GJ chart link

Yay, I'm in positive territory again. Down cable!! Down mooore! Crap...break even. Hmm...

you should use this indicator on 4hr chart.
after that in indicator properties you should adjust value of multiplier to 2(this default).
then do every thing karmo said.
ok?????

ok i got the 8 hr (even though i still don't know how). how about the 12 hr?

thanks for you and karms help/patience

This is playing out quite nicely.!
Now all we need is for GU to close below 5.0420 and USD/JPY to close near it's low of today then look out below in the Tokyo/Asian session.

Still expecting it to hit the earlier lows from today. . . and it looks like its heading that way as I write.

new 1 hour MOM 10c very bullish 4 hour still bear

hummm..

New 4hr Momentum is super bearish on both Dow and GBP/JPY. I'm expecting a big fall towards 224.50 area.

How low you think its going to go

The only thing I'm afraid from is the DOW rallying the last hour.. otherwise GJ should head lower.

adjust value of periodmultiplier to 3.

got that make sense 1 hour MOM 10c showing a small up movement and then a larger down movment due to 4 hour being strong bearish didnt look at it that way, thanks auslanco

thats a clear picture

I've been holding this short since 00:25 gmt today. Looks like patience and 4hr charts is going to win again


Auslanco!