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

touch the 4hr gann....... please go through it....

karm must have added more lots. lol

Can somebody kick it through the 1hr 50 EMA please?

Any one got any nice charts to look at - I'm at work so can't see mine

OK you maggots (a little army lingo there!), here we go. Below is two 4H charts showing recent divergence. The first chart shows two recent bearish divergence moves. The first move from Arrow 1 to Arrow 2 moved 500 pips, and the second move from Arrow 3 to Arrow 4 moved 700 pips. I posted several weeks ago on the power of divergence as a confirming indicator. On the higher TFs it can especially be helpful in determining how far a current move might go. My observance of divergence on the 4H chart has shown a minimum move of 300 pips with moves extending as far as 1000 pips. The average range of a 4H divergence move is 500 to 700 pips.

The second chart shows where we are currently. A new bullish divergence has formed on the 4H chart. I thought earlier that price would definitely shoot down to the 221.25 area because we had a 4H close just beneath the 223.70 support line, but it appears now that price ran out of gas there and that line of support will probably hold until after the first of the year. This new 4H divergence supports my earlier claims that price will shoot up next week to reach into the 230's. There are two points I am looking for in particular; the 50 Fib at 231.30 and the Monthly 5SMA close which is currently around 232.50, but will move as price moves. I have added 700 pips to the most recent low at 223.54 to give you an idea of how far up a 700 pip move would take us if this most recent divergence plays out that way. It might only go up 500 or it might go 1000. Remember, the minimum I have seen a 4H divergence go is 300 pips. So, let's watch and see what happens next week. And for those who sold at 225 I hope you have a tight SL or are trading a small position because I suspect the end of the year will go out on a high note. But then again, I don't really know a whole lot about what I am talking about.

M2B

It is just 20min away from the close of the 4H bar, I've done an early jump into according to 1h/4h strategy... let's see.

Wall street is looking pretty tasty right now---futures up 74. There was some good corporate news reported after the bell last night. Could be time for the Santa Claus rally to start kicking in. This pair has been pretty much ignoring the Dow lately, but maybe a 200-300 pt rally on Wall St. will get its attention.

UJ just broke an other Resistance..... be careful , it is last day of trading and last day before christmas.... any open Trade may be become a headache , after..... Hedge or close any open trade..

UJ has finally broke through resistance....Now if GU will wake up and retrace to 2.000, GJ beast will really wake up and get going!

Boo..hoo... Sob...Sob...there goes GJ while I just watch helplessly on demo. My platform password and phone password have been changed without my knowledge and all I can do is sit by the sidelines and watch !!!

btw Good Evening everyone...

Sorry to hear that, Dont worry another good Trade will come..

1st target reached

Thanx Mate...btw my demo is up by 170 pips so far

MM, how do you feel about 226.80 area, the Daily 5SMA close? I took some profit @ 225.60, but still have a couple of longs open.

UJ should challenge 114 or slightly higher so your target for GJ is very reasonable with stops being triggered above. . . Once it gets above 226 it should shoot up.

Dow up 153....GJ only up 25 pips since NY open. I'm not going to beat a dead horse, but I have to find another pair to trade next year. Anyone with EJ experience? PM me if you have suggestions.

UJ follows S&P which is closely related to DOW movements, not GJ imho. Right now GU is falling while UJ is rising after the positive USD reports.

good morning all keep an eye on gu ...at crosshairs here..could be about to to break one way or the other IMO.... considering usd going up...gu may break down..... IMHO

GU should bounce off of 1.9830 support and bounce back up to ar'd 1.9865/1.9895 area

From the Federal Reserve site,


For release at 10:00 a.m. EST


On December 20, 2007, the Federal Reserve conducted an auction of $20 billion in 35-day credit through its Term Auction Facility. Following are the results of the auction:

Stop-out rate:4.67 percent

Total propositions submitted:$57.664 billion

Total propositions accepted:$20.000 billion

Bid/cover ratio:2.88

Number of bidders:73

Bids at the stop-out rate were prorated at 73.40% and resulting awards were rounded to the nearest $10,000 (except that all awards below $10,000 are rounded up to $10,000).

The awarded loans will settle on December 27, 2007, and will mature on January 31, 2008. The stop-out rate shown above will apply to all awarded loans.

Institutions that submitted winning bids will be contacted by their respective Reserve Banks by Noon EST on December 21, 2007. Participants have until 3:00 p.m. EST on December 21, 2007, to inform their local Reserve Bank of any error.