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

  • #69,121
  • Mar 17, 2008 12:25pm Mar 17, 2008 12:25pm
Quoting warta
yeah i know bro tkx for u too , coz i cant ignore that u r a gr8 trader and i learn alot from u am not more than a newbie and am tryin to find out my way
you are on the right track my friend and u presents some very good points in your analysis. Keep up the good work and trade what your charts are telling u.

Cheers. . .
  • #69,122
  • Mar 17, 2008 12:28pm Mar 17, 2008 12:28pm
Quoting quecee5
you are on the right track my friend and u presents some very good points in your analysis. Keep up the good work and trade what your charts are telling u.

Cheers. . .
  • #69,123
  • Mar 17, 2008 12:29pm Mar 17, 2008 12:29pm
Quoting malcolmb14
The market are on the verge of collapse.

bear Sterns stock down 80% today on buy out for $2 per share by JP Morgan. That is massive.

Lehman brothers , founded in 1850 in trouble , stock down 30% today.

Goldman Sachs 3 billion write down reported today.

Banks in Japan have to report yet , but they have billions in write downs also due to sub prime debts. The gbpjpy will sell off due to risk aversion not go up due to a weakening yen if this news comes out.

In reality everyone is blaming the losses on write downs on sub prime .. really everyone was being a little greedy and over leveraged.

Banks can invest 93 cents on every dollar they have placed with them , with leverage the number is around $4.

Markets are going thru a natural down cycle. Bansk are getting killed.

Why take a long position in a carry trade for what is very obviously a market on the verge of massive collapse ? Not to say a hold of a few hours is not ok.

The feds cut discount rates last night ... why did not they cut base rate ... oh maybe because they are running scared from inflation and the rate cut tomorrow is not what everyone is hoping for ( at the moment the banks are screaming for 1% )


DJ 9800 here we come.

what it mean ? can u explain plz?
cheers
  • #69,124
  • Mar 17, 2008 12:29pm Mar 17, 2008 12:29pm
Quoting jarroo
Price Action on the 4 hour: Inside Bar and DBHLC
So what does that mean. . . Inside bar and DBHLC???? Just curious. . .
  • #69,125
  • Mar 17, 2008 12:30pm Mar 17, 2008 12:30pm
Quoting quecee5
So what does that mean. . . Inside bar and DBHLC???? Just curious. . .

its james16 analyses my bro
  • #69,126
  • Mar 17, 2008 12:31pm Mar 17, 2008 12:31pm
Quoting malcolmb14
The market are on the verge of collapse.

bear Sterns stock down 80% today on buy out for $2 per share by JP Morgan. That is massive.

Lehman brothers , founded in 1850 in trouble , stock down 30% today.

Goldman Sachs 3 billion write down reported today.

Banks in Japan have to report yet , but they have billions in write downs also due to sub prime debts. The gbpjpy will sell off due to risk aversion not go up due to a weakening yen if this news comes out.

In reality everyone is blaming the losses on write downs on sub prime .. really everyone was being a little greedy and over leveraged.

Banks can invest 93 cents on every dollar they have placed with them , with leverage the number is around $4.

Markets are going thru a natural down cycle. Bansk are getting killed.

Why take a long position in a carry trade for what is very obviously a market on the verge of massive collapse ? Not to say a hold of a few hours is not ok.

The feds cut discount rates last night ... why did not they cut base rate ... oh maybe because they are running scared from inflation and the rate cut tomorrow is not what everyone is hoping for ( at the moment the banks are screaming for 1% )


DJ 9800 here we come.
What would likely be the scenario if cuts only 75 points?
Thanks.
  • #69,127
  • Mar 17, 2008 12:32pm Mar 17, 2008 12:32pm
I was wondering if anyone would be interested in a trading room for GU and GJ. I am setting one up on Skype and it is free. I'm not some forex guru, just a fellow trader who believes iron sharpens iron. I like to be around other people with similiar goals (such as trading for a living) I usually trade fom mid asian to early London and sometimes all the way thru to London close. I live in the US but have found that is when the action is. So if you are interested just drop me an email and I will give you the details.
Energy and persistence conquer all things! Ben Franklin
  • #69,128
  • Mar 17, 2008 12:33pm Mar 17, 2008 12:33pm
Everyone in the market seems to keep selling rallies before this anxiety subsides.
  • #69,129
  • Mar 17, 2008 12:37pm Mar 17, 2008 12:37pm
Quoting mktjong
What would likely be the scenario if cuts only 75 points?
Thanks.

The rate cut will move the market for a period of time , but the statement that comes after the rate cut is what the market will be waiting for.

ANY hint of a hawkish tone ( no further cuts or rate hikes due to inflation conerns) will not be taken well by the market.
Blogging daily now at www.volume.zone
  • #69,130
  • Mar 17, 2008 12:40pm Mar 17, 2008 12:40pm
Quoting jarroo
Price Action on the 4 hour: Inside Bar and DBHLC

jaroo... i see the Double Bar High Lower Close (DBHLC) you point out.... which is very bearish ala james 16 method...... very nice price action analysis my friend...

but my question is this..... didnt james 16 say that the 2 highs must be at the same level....these are not?? although it is and inside bar...and i agree bearish looking price action..... it looks more like a LHLL or something...which also looks bearish.....

is this really what james 16 would call a DBHLC???? I know you have studied this alot so i value your opinion


regards


d
  • #69,131
  • Mar 17, 2008 12:40pm Mar 17, 2008 12:40pm
Quoting forexlion
197.72 / 198.23, good call ---
Forexlion, I've been browsing ForexFactory over the weekend, and I see that you are an experienced MT4 coder

Would it be possible for you to create an audible alert /email for the gann Line, when it flips up or down...on second thought, too much false signals while it does its flipping thing. Better yet, when a user-defined moving average crosses the gann line. I have no idea how easy / difficult this maybe.

I've searched FF and Metastock and I see where the code for the gann is available. I can't seem to find Que, the original coder, seems to have disappeared several months now.
  • #69,132
  • Mar 17, 2008 12:46pm Mar 17, 2008 12:46pm
Quoting dagoods
jaroo... i see the Double Bar High Lower Close (DBHLC) you point out.... which is very bearish ala james 16 method...... very nice price action analysis my friend...

but my question is this..... didnt james 16 say that the 2 highs must be at the same level....these are not?? although it is and inside bar...and i agree bearish looking price action..... it looks more like a LHLL or something...which also looks bearish.....

is this really what james 16 would call a DBHLC???? I know you have studied this alot so i value your opinion


regards


d

here you go .. this might help comfirming the pattern you are looking at .

A simple pennant ( continuation pattern)

Attached Image (click to enlarge)
Click to Enlarge Name: Chart12.JPG Size: 139 KB
Blogging daily now at www.volume.zone
  • #69,133
  • Mar 17, 2008 12:56pm Mar 17, 2008 12:56pm
how about if IR is left unchanged?

Quoting malcolmb14
The rate cut will move the market for a period of time , but the statement that comes after the rate cut is what the market will be waiting for.

ANY hint of a hawkish tone ( no further cuts or rate hikes due to inflation conerns) will not be taken well by the market.
Nihil Sine Deo.
  • #69,134
  • Edited 4:28pm Mar 17, 2008 1:04pm | Edited 4:28pm
Quoting $teve
I think everyone who uses this thread know what the gann line is. I think it was brought to everyone's attention last year by the great auslanco or karmostaji. Here's the link where you can download it for your MT4.

http://www.pnwenterprises.com/auslanco/downloads.htm
if I don't have MT4 can I still use the gann line, thanks in advance,
The Chonchy
  • #69,135
  • Mar 17, 2008 1:20pm Mar 17, 2008 1:20pm
Quoting chonchy
if I don't have MT4 can I stilluse the gann line, thanks in advadce,
yes why not. Download a MT4 platform, open a demo account, put the gann indicator on your chart and use it. so simple. It shouldn't be necessarily on the same platform you have your real account with.
Discipline + Patience - Fear - Greed = Success
  • #69,136
  • Mar 17, 2008 1:28pm Mar 17, 2008 1:28pm
sieb_ila - chk your pm bro!
  • #69,137
  • Mar 17, 2008 1:42pm Mar 17, 2008 1:42pm
This is the second time on 15M that market is being rejected by 50 EMA, H1 Gann is still holdingand and specially with this pennant forming on 15M chart which is a sign of continuation, all of these tell us that we should still be careful about longs until proper confirmation.

Although I'm expecting some retrace at least up to 197.35 (%38.2 fib) too but it's a little bit risky to enter long before 50 EMA has been breached and a candle closed above H1 Gann.

Just my thoughts ...

I was long from 193.20 but I closed it on previous 50 EMA rejection, then went short for a small 85 pips. Now standing aside waiting for 50 EMA breakup as confirmation to open long targeting 197.35 ...

Cheers
Discipline + Patience - Fear - Greed = Success
  • #69,138
  • Mar 17, 2008 1:46pm Mar 17, 2008 1:46pm
15 candle opened above 50 EMA hmmm.. lets see what happends in another 15minutes. However we are nearing market close so as Jim Cramer says "STOP TRADING"
  • #69,139
  • Mar 17, 2008 1:51pm Mar 17, 2008 1:51pm
Quoting arezab
This is the second time on 15M that market is being rejected by 50 EMA, H1 Gann is still holdingand and specially with this pennant forming on 15M chart which is a sign of continuation, all of these tell us that we should still be careful about longs until proper confirmation.

Although I'm expecting some retrace at least up to 197.35 (%38.2 fib) too but it's a little bit risky to enter long before 50 EMA has been breached and a candle closed above H1 Gann.

Just my thoughts ...

I was long from 193.20 but I closed it on previous 50 EMA rejection, then went short for a small 85 pips. Now standing aside waiting for 50 EMA breakup as confirmation to open long targeting 197.35 ...

Cheers
Good approach my friend =
I'm still long and strong 1st target 196.30/50 area. . .
  • #69,140
  • Mar 17, 2008 1:54pm Mar 17, 2008 1:54pm
Quoting vinesh2
15 candle opened above 50 EMA hmmm.. lets see what happends in another 15minutes. However we are nearing market close so as Jim Cramer says "STOP TRADING"


A lot can happen in 60 minutes. . .
Lets see how it all plays out =
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