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

  • #52,341
  • Nov 29, 2007 9:46am Nov 29, 2007 9:46am
Quoting moneymagnet
forexpet,

i gues it depends on how you draw the lines.
usd/jpy looks like it following the dropping usd maybe usd/chf etc falling....may push the geppy down with it...no??? any thought appreciated thank u all in advance
  • #52,342
  • Nov 29, 2007 9:47am Nov 29, 2007 9:47am
Quoting forexpert310
i believe it already broke the channel line look here
yeah I can see the price has passed the channel line but in my opinion it's wise to wait and see if another candle opens and closes below or not.
Discipline + Patience - Fear - Greed = Success
  • #52,343
  • Nov 29, 2007 9:53am Nov 29, 2007 9:53am
Quoting arezab
yeah I can see the price has passed the channel line but in my opinion it's wise to wait and see if another candle opens and closes below or not.
Indicators show the past. Price Action "Indicates" the future.
  • #52,344
  • Nov 29, 2007 9:58am Nov 29, 2007 9:58am
Quoting moneymagnet
this is part of my reasoning for the small long position. hourly TL and 100 ema support., but a close below i will close my long, no need to kick against a prick


Hey, that's my line.

M2B
  • #52,345
  • Nov 29, 2007 10:02am Nov 29, 2007 10:02am
I thought we'll bounce off the 50 fibo but like we mentioned earlier we could see the 61.8 fibo as well, my position is small so no big deal. I'll add more once we get more confirmation.

Enjoy the pips
Trade what you see, not what you think.
  • #52,346
  • Nov 29, 2007 10:02am Nov 29, 2007 10:02am
Quoting dagoods
usd/jpy looks like it following the dropping usd maybe usd/chf etc falling....may push the geppy down with it...no??? any thought appreciated thank u all in advance
Or could it be just testing lower resistance range @ 109.65/70 area????
Right now UJ is stuck in a range which could be broken to the upside or to the down side. Range = 109.65/70 - 110.20

Yes if UJ breaks to the downside with a falling GU, GJ will go south with it. .
  • #52,347
  • Nov 29, 2007 10:03am Nov 29, 2007 10:03am
Quoting my2buoys
[/color]

Hey, that's my line.

M2B
Biblical! I am an Asst Pastor as well.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #52,348
  • Nov 29, 2007 10:03am Nov 29, 2007 10:03am
Quoting karmostaji
I thought we'll bounce off the 50 fibo but like we mentioned earlier we could see the 61.8 fibo as well, my position is small so no big deal. I'll add more once we get more confirmation.

Enjoy the pips
  • #52,349
  • Nov 29, 2007 10:06am Nov 29, 2007 10:06am
[quote=million%;1737266]does anybody see this dropping further. My 4hr TF charts ,mom's and channels show no stops yet. could this be a false support.? i think i,ll be sidelined for a further drop before my longs. ??[/quote]

And to what point do you think it should drop before reversing up? 220? 210? I'm just trying to get you to think ahead here. I'm not saying price won't drop further, but you need to look on your charts and see a potential point of support underneath current price, and then ask yourself if that would be a reasonable level for price to fall to, taking into consideration momentum, OB/OS levels, candle/bar formations, time of day, etc. It's important to pick out potential levels price could run to instead of just saying 'price could fall more'. If the next support/resistance levels don't seem reasonable to reach in the current climate, then it is better to assume that the current level of support will hold. Then again, if things seem choppy, or you're not sure, it's best to just sit on the sidelines.

M2B
  • #52,350
  • Nov 29, 2007 10:08am Nov 29, 2007 10:08am
Whats with this choppiness all the bad news is not making any dent on the GJ. A month ago the same news would drive the market down to the gutter
  • #52,351
  • Nov 29, 2007 10:09am Nov 29, 2007 10:09am
there is a SHORT signal according to Aus's 4H/1H strategy, entry from 226.83 and TP200, SL100. everybody expects an upward move
  • #52,352
  • Nov 29, 2007 10:11am Nov 29, 2007 10:11am
Quoting mamr
there is a SHORT signal according to Aus's 4H/1H strategy, entry from 226.83 and TP200, SL100. everybody expects an upward move

On mine the 4hr bar closed just above the Gann line.
And to be a 1/4hr trade, the 1hr qqe would need to cross up and back down again wouldn't it?
  • #52,353
  • Nov 29, 2007 10:12am Nov 29, 2007 10:12am
Quoting mamr
there is a SHORT signal according to Aus's 4H/1H strategy, entry from 226.83 and TP200, SL100. everybody expects an upward move
no, i just explained this to someone else a few pages ago. candle hasnt closed below tft line on 4hr and the 1hr already dropped below the 50 line like six hours ago. according to the strategy, you would have to wait for it to go above the 50 and then come back down
  • #52,354
  • Nov 29, 2007 10:13am Nov 29, 2007 10:13am
Quoting moneymagnet
Biblical! I am an Asst Pastor as well.
Yes, there are probably only a handful of people in this thread who understand the true context of that particular passage. You actually used it in a more proper context than I did the first time several weeks ago.

M2B
  • #52,355
  • Edited 10:31am Nov 29, 2007 10:15am | Edited 10:31am
Quoting vinesh2
Whats with this choppiness all the bad news is not making any dent on the GJ. A month ago the same news would drive the market down to the gutter
The news is old news and has already been taken in consideration. . . Yesterday, the Fed Biege Book revealed doom and gloom for US but it has what they believe is a corrective action in place - a rate cut (25bps/50bps (maybe)).

Also, taken in consideration that the market has had a couple of consecutive days of rallying, appears the market is just taking a breather perhaps to have a rally day for month end - JMHO!
  • #52,356
  • Nov 29, 2007 10:19am Nov 29, 2007 10:19am
Quoting vinesh2
Whats with this choppiness all the bad news is not making any dent on the GJ. A month ago the same news would drive the market down to the gutter
consider the dow not faling and even going up some at times today so far and thoughts about fomc december meeting are mixed us economyan enigma right now and bernakke has the market befuddled.... subprime may be old news at this point market may have fear bernakke actually will leave rates alone.... could be a reason.... just a thought
  • #52,357
  • Nov 29, 2007 10:19am Nov 29, 2007 10:19am
Quoting senbanda
Hi M2B
Great advice for somebody who is still confused with momentums.i always look for your articles and explanations. Thank you.
Could you kindly direct me to the page where you explained how to attach
the period converter to create a 12 h chart? I did it but it doesent work.
If i am cluttering this thread please pm me
Thank you in advance
Senbanda
Attach the converter to a 4H chart, change the Period Multiplier to 3, open an offline file and click on the GBP/JPY 12H chart. You're welcome.

M2B
  • #52,358
  • Nov 29, 2007 10:20am Nov 29, 2007 10:20am
Quoting DaddyWarbuck
no, i just explained this to someone else a few pages ago. candle hasnt closed below tft line on 4hr and the 1hr already dropped below the 50 line like six hours ago. according to the strategy, you would have to wait for it to go above the 50 and then come back down
You are right. Let's see how this thing gets on. Thanks bro.
  • #52,359
  • Nov 29, 2007 10:22am Nov 29, 2007 10:22am
Quoting dimmi
On mine the 4hr bar closed just above the Gann line.
And to be a 1/4hr trade, the 1hr qqe would need to cross up and back down again wouldn't it?
right. thanks.
  • #52,360
  • Nov 29, 2007 10:24am Nov 29, 2007 10:24am
Question for Senior Members

Can someone point me in the direction or briefly explain to me the rules they use for either SMA, EMA or LRI (Linear Regression Index) on charts (1hr, 4hr, daily, weekly, monthly) and what periods. . .

Don't mean to clutter the thread just curious what/how folks are using the ( and why) and if there is a standard that people are using?

Appreciate any feedback. . .
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