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

  • #55,481
  • Dec 18, 2007 8:00am Dec 18, 2007 8:00am
Quoting dagoods
wonderful ....thanks!!!! so gj get stuck again in a range when and if this plays out???
Can you post the trendline info. you posted last week. I can't find it on FF. . .
Also, if you information on pitchforck trendlines can you post that as well?

Thxs in advance - Quecee5
  • #55,482
  • Dec 18, 2007 8:12am Dec 18, 2007 8:12am
Dow futures @ +99, but GJ has not been following equities so much latley. Maybe a big Dow rally +200 pts will kick start us out of this range. Dow has a lot of potential range up and down today...a lot of the big financial firms are reporting earnings.
  • #55,483
  • Dec 18, 2007 8:28am Dec 18, 2007 8:28am
Thanks, I put some chart views in a "GBP/JPY charts" thread.
http://www.forexfactory.com/showthre...=1#post1764819


Cant See the chart bro. try uploading again.

http://www.forexfactory.com/images/buttons/quote.gif

  • #55,484
  • Dec 18, 2007 8:32am Dec 18, 2007 8:32am
Quoting FX-Petra
Dow futures @ +99, but GJ has not been following equities so much latley. Maybe a big Dow rally +200 pts will kick start us out of this range. Dow has a lot of potential range up and down today...a lot of the big financial firms are reporting earnings.
Also , the GBP is going to reach to its real value. As we know , GBP is over-price and today News and Data , showed that , BOE will cut more the interest rate.
The CPI did not increased (worse than expectations) - Growth is Weakening and House prices may fell more and ....

Also , The Yen is rolling and just playing around the Support and Resistant area. Last night yen raised and today , the Dow Rally and raise only helped , the yen to fell to yesterday price.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.JPG Size: 106 KB
Imagination is more important than knowledge. -- Albert Einstein
  • #55,485
  • Dec 18, 2007 8:36am Dec 18, 2007 8:36am
hi everybody. I've been thinking today if anyone of you have any successful method for scalping this pair when market is something like today or not. I don't have any particular effective scalping strategy for this pair. I've tried some but 9 of 10 was loss. If anyone knows any better idea how to scalp this pair better, please share it if you don't mind.

thanks
Discipline + Patience - Fear - Greed = Success
  • #55,486
  • Dec 18, 2007 8:42am Dec 18, 2007 8:42am
[quote=arezab; If anyone knows any better idea how to scalp this pair better, please share it if you don't mind.

thanks[/quote]

Well I was sort of trying to do just that,... I trade with oanda, currently 4.7 pip spread, and short time frames. So, 50 pips is a decent trade, especially today. http://www.forexfactory.com/showthre...=1#post1764819

I'd be interested to hear what you have to say.
  • #55,487
  • Dec 18, 2007 8:56am Dec 18, 2007 8:56am
I range
You range
They range
...............

  • #55,488
  • Dec 18, 2007 9:00am Dec 18, 2007 9:00am
Quoting arezab
hi everybody. I've been thinking today if anyone of you have any successful method for scalping this pair when market is something like today or not. I don't have any particular effective scalping strategy for this pair. I've tried some but 9 of 10 was loss. If anyone knows any better idea how to scalp this pair better, please share it if you don't mind.

thanks
http://www.actionforex.com/forex_ana..._200603215764/

Pivots are great for scalping esp. in these slow markets. . .
Just to give you an example, if you look at the 4hr pivot chart, you would have went short @ 228.95 and look to exit the position ar'd 228.18 unless you see it go thru 228.18 suppport headed to s2 @ 227.70 or if it bounced off 4hr pivot @ 228.51 you could exit there. . . you could accumulate anywhere from 40-125 pip depending on market conditions, news, etc. . .

Hope this helps. . .
  • #55,489
  • Dec 18, 2007 9:25am Dec 18, 2007 9:25am
Quoting quecee5
http://www.actionforex.com/forex_ana..._200603215764/

Pivots are great for scalping esp. in these slow markets. . .
Just to give you an example, if y...

Hope this helps. . .
Thanks quecee5, although I've made some pips today but I was looking for any better method which is safer. You are right, using these pivot lines could be a good help today but I didn't use them. Actually I use an indicator called "stochastic RSI" which is very noisy histogram and it's difficult to enter a trade with it.

I'll try to use the pivot line and see what happens, thanks though for your help.
Discipline + Patience - Fear - Greed = Success
  • #55,490
  • Dec 18, 2007 9:33am Dec 18, 2007 9:33am
Wow this market is completely dead. Its ignoring all economic data. GBP CPI came out bad and this thing did't budge. Housing starts came out bad and this thing did't budge. I am starting to have doubts whether GJ is going to reach 50 FIB this year.
  • #55,491
  • Dec 18, 2007 9:33am Dec 18, 2007 9:33am
It looks like there could be a good chance for a pull back. gbp is in a pennant formation right now. Meaning could go up or down. But jpy has made a triple top that is a good sign of going down before moving any higher. That would give the gbp a good chance to pick up more buyers to move higher since it is looking pretty tired at the moment and has been in this range for a while now.

Feed back would be great!

fxstman
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 38 KB
Click to Enlarge Name: jpy.gif Size: 26 KB
  • #55,492
  • Dec 18, 2007 9:46am Dec 18, 2007 9:46am
I heard on CNBC that Japan seems to raise the interest rate ... !!!
It means We may go down and Yen strengthen . I did not found it written somewhere ....
Imagination is more important than knowledge. -- Albert Einstein
  • #55,493
  • Dec 18, 2007 9:55am Dec 18, 2007 9:55am
Quoting Pyramid
I heard on CNBC that Japan seems to raise the interest rate ... !!!
It means We may go down and Yen strengthen . I did not found it written somewhere ....
Please try to confirm. If Japan is raising rates...that would be a big market surprise, maybe even shock. Yen would would skyrocket taking this pair down big time. I seriously doubt that BOJ will raise rates anytime soon.
  • #55,494
  • Dec 18, 2007 10:10am Dec 18, 2007 10:10am
Well, it looks like the next chance to break out of this 230-227.50 range will come with the BOE minutes tomorrow. We will be looking at the vote that cut intrest rates by 25 basis points at the last meeting. A strong vote (8-1 or 9-0) in favor of the cut would signal another cut in January and would probably break us out to the downside. A weak vote (6-3 or 5-4) would make more cuts less likely and send us up to 230 and beyond. A vote of 7-2 will not do much either way. Obviously, the more exteme the vote (9-0 or 5-4), the greater the chance that the range will break. I believe the minutes will be released @ 5:30 am est tomorrow.
  • #55,495
  • Dec 18, 2007 10:25am Dec 18, 2007 10:25am
Interesting Article

http://money.cnn.com/2007/08/14/pf/z...ion=2007082313
Do not follow my trades. Trade what you see on your own charts.
  • #55,496
  • Dec 18, 2007 10:29am Dec 18, 2007 10:29am
Such days you go out and enjoy life
Trade what you see, not what you think.
  • #55,497
  • Dec 18, 2007 10:33am Dec 18, 2007 10:33am
http://www.actionforex.com/articles_...2007060122605/

Enjoy. . .
  • #55,498
  • Dec 18, 2007 10:46am Dec 18, 2007 10:46am
Quoting igmak
Interesting Article

http://money.cnn.com/2007/08/14/pf/z...ion=2007082313
Yes it is. Thanks for the link.
  • #55,499
  • Dec 18, 2007 10:48am Dec 18, 2007 10:48am
Quoting igmak
Interesting Article

http://money.cnn.com/2007/08/14/pf/z...ion=2007082313


AUD/JPY is reacting nicely to the report.
  • #55,500
  • Dec 18, 2007 10:54am Dec 18, 2007 10:54am
Quoting quecee5
http://www.actionforex.com/articles_...2007060122605/

Enjoy. . .
excellent thank u! here is the tl info i had taken from ff mouteki thread...i have found that mouteki( which is simply a thomas demark tool) is useless unless you are 4 hour tf or above.... on higher tfs then it is a good tool as it basically gives you a good confirmation of pa and lets you draw a new tl to work off of... you start from right to left which is very cool in anticipating price based on pa..... anyway... you can go to mouteki thread or google search but here is some of what i have saved...most of the stuff i just printed and cant post...
Attached File(s)
File Type: pdf trend2.pdf   391 KB | 1,040 downloads
File Type: doc Trend line.doc   939 KB | 574 downloads
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