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

  • #72,881
  • Apr 11, 2008 8:38am Apr 11, 2008 8:38am
Greetings Hussin
Patience + Humility + Study = Success
  • #72,882
  • Apr 11, 2008 8:39am Apr 11, 2008 8:39am
Quoting hussin naiji
bi bi 201.20
bi bi 200
bi bi 199

This means there would be a gap opening on sunday.
  • #72,883
  • Apr 11, 2008 8:43am Apr 11, 2008 8:43am
Quoting DutchTrader
We haven't been able to close above 205 this week.
Yes. That is true but I think next week will probably be bullish. I expect a 88.6 fib retrace and bounce for now

In my experience, a %88.6 retrace and then a clear bounce from there is a very bullish sign with GJ. Right now I see price is challenging the daily S1 (198.72) and also I can see a bullish hidden divergence forming on 30M chart ... If bulls start from there, they could drive this thing to very high levels and breach 205 this time.

IMO a 100% retrace is also possible.
Just my thoughts ... nothing is absolute.

Discipline + Patience - Fear - Greed = Success
  • #72,884
  • Edited 9:08am Apr 11, 2008 8:46am | Edited 9:08am
Quoting arezab
Yes. That is true but I think next week will probably be bullish. I expect a 88.6 fib retrace and bounce for now

In my experience, a %88.6 retrace and then a clear bounce from there is a very bullish sign with GJ. Right now I see price is challenging the daily S1 (198.72) and also I can see a bullish hidden divergence forming on 30M chart ... If bulls start from there, they could drive this thing to very high levels and breach 205 this time.

IMO a 100% retrace is also possible.
Just my thoughts ... nothing is absolute.

I agree with all that, except that this pair correlates extremely to the Dow, and the UJ as well as this being a pre-G7 meeting weekend so all that adding up I think that your scenario will likely occur, if at all, on Sunday/Monday.

<edit>

On my daily I see 196.83 as a next target, on the 4hr 197.75
Patience + Humility + Study = Success
  • #72,885
  • Apr 11, 2008 9:09am Apr 11, 2008 9:09am
Quoting hcruces
Hello forexlion, do u mind sharing that indicator with the red, blue MA's? seems nice!
xpma will not work unless t3ma is also present in the indicators folder

xpma uses a function call from t3ma
Attached File(s)
File Type: mq4 T3MA.mq4   3 KB | 330 downloads
File Type: mq4 xpMA.mq4   16 KB | 336 downloads
  • #72,886
  • Apr 11, 2008 9:24am Apr 11, 2008 9:24am
Quoting DutchTrader
I agree with all that, except that this pair correlates extremely to the Dow, and the UJ as well as this being a pre-G7 meeting weekend so all that adding up I think that your scenario will likely occur, if at all, on Sunday/Monday.

<edit>

On my daily I see 196.83 as a next target, on the 4hr 197.75
Discipline + Patience - Fear - Greed = Success
  • #72,887
  • Apr 11, 2008 9:48am Apr 11, 2008 9:48am
Quoting hussin naiji
the next week is NZD WEEK
Important Daily S/R Levels for EU, GU, GY, UY and Dow Jones

http://www.forexfactory.com/showthread.php?t=80805
  • #72,888
  • Apr 11, 2008 9:49am Apr 11, 2008 9:49am
what about consumer sentiment level. lowest since like 1991.
  • #72,889
  • Apr 11, 2008 9:50am Apr 11, 2008 9:50am
Quoting Dmac
what about consumer sentiment level. lowest since like 1991.
Yep, but remember everything is ok The DJIA is retracing
Patience + Humility + Study = Success
  • #72,890
  • Apr 11, 2008 9:54am Apr 11, 2008 9:54am
Quoting DutchTrader
Yep, but remember everything is ok The DJIA is retracing

I don't get it.
  • #72,891
  • Apr 11, 2008 10:04am Apr 11, 2008 10:04am
Something to consider.....
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Patience + Discipline - Greed = Success
  • #72,892
  • Apr 11, 2008 10:04am Apr 11, 2008 10:04am
Hmm...this room is pretty quiet without the seniors:surprised
  • #72,893
  • Apr 11, 2008 10:14am Apr 11, 2008 10:14am
I think Gold is the best indicator for GJ. It is exactly counter trader for this pair because it has a very direct relation with Dow and an inverse relation with dollar.

So when gold is rising it means that investors are pulling out their money from equities and other investments and therefor carry trades are unwinding. This causes the dollar to weaken. When dollar weakens, the most important dollar pair, UJ, which has heaviest effect on GJ also weakens and then it pulls GJ down with itself.

I've been watching these two for sometime and I think it is true.

I'll be happy to hear any comments about this.
Discipline + Patience - Fear - Greed = Success
  • #72,894
  • Apr 11, 2008 10:48am Apr 11, 2008 10:48am
now see weekly candle chart GJ
we have seen that with apperance a bullish gravestone doji pattern in the past weeks ,the market was bullish even we have seen a blue of bozu after this.
be careful:
1-blue of bozu candle is a retracement that is by reason positions liquidate by sellers .
2-upper wick blue of bozu ,show to us this is not a reversal(see to A and B points).
then we have seen on Monday and Tuesday birth a bearish harami (see my post no:72519).even we see that weekly open is above closed previous weekly .but the bears were abled to take price down.
the bearish harami pattern is a sign of a disparity about the market health.
if we see a harami pattern after a blue of bozu , this show to us that bulls upward drive has weakened .
today (in the end of week) we see that the bearish harami pattern has changed to a kabuse of bozu pattern .this show to us that bears maintain control and more selling the next week will see .
im waiting for a red of bozu or even red opening marubozu for next week
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  • #72,895
  • Apr 11, 2008 10:50am Apr 11, 2008 10:50am
Quoting arezab
I think Gold is the best indicator for GJ. It is exactly counter trader for this pair because it has a very direct relation with Dow and an inverse relation with dollar.

So when gold is rising it means that investors are pulling out their money from equities and other investments and therefor carry trades are unwinding. This causes the dollar to weaken. When dollar weakens, the most important dollar pair, UJ, which has heaviest effect on GJ also weakens and then it pulls GJ down with itself.

I've been watching these two for sometime and I think it is true.

I'll be happy to hear any comments about this.
to some extent your correct,but b/carefull about the g/j--gold correlation...
Imanuel Parsifal
  • #72,896
  • Apr 11, 2008 10:57am Apr 11, 2008 10:57am
Quoting arezab
I think Gold is the best indicator for GJ. It is exactly counter trader for this pair because it has a very direct relation with Dow and an inverse relation with dollar.

So when gold is rising it means that investors are pulling out their money from equities and other investments and therefor carry trades are unwinding. This causes the dollar to weaken. When dollar weakens, the most important dollar pair, UJ, which has heaviest effect on GJ also weakens and then it pulls GJ down with itself.

I've been watching these two for sometime and I think it is true.

I'll be happy to hear any comments about this.
I just had a look and nothing in my opinion is better than SP 500 on a minute by minute basis. for UJ
  • #72,897
  • Apr 11, 2008 11:36am Apr 11, 2008 11:36am
good morning peoples, looks like the bottom of the mrk being over sold and all . i call a bull , whose with me. but thats next week.
have a nice week end.
God bless.
  • #72,898
  • Apr 11, 2008 11:48am Apr 11, 2008 11:48am
Quoting andwigah
good morning peoples, looks like the bottom of the mrk being over sold and all . i call a bull , whose with me. but thats next week.
have a nice week end.
God bless.
Maybe a double bottom on 60 min , or at least some form of retrace. However daily of dj not looking good at all . I see 400 - 600 point drop in dj next week based on daily hitting top of channel

Markets drop will carry trades to unwind

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  • #72,899
  • Apr 11, 2008 11:53am Apr 11, 2008 11:53am
Quoting malcolmb14
this is an inveretd cup and handle on the 4 hour chart . The way they are suppaosed to play out is that the handle fprms a retracement or bear flag. If the handle is broken to the downside it would indicater a continuation of the downtrend

I think we go to 201.65 (50% fib) and then maybe drop from there

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The cup and handle from yesterdays post is playing out very nicely
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  • #72,900
  • Apr 11, 2008 11:55am Apr 11, 2008 11:55am
Quoting malcolmb14
Maybe a double bottom on 60 min , or at least some form of retrace. However daily of dj not looking good at all . I see 400 - 600 point drop in dj next week based on daily hitting top of channel

Markets drop will carry trades to unwind

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hi dear Malcolmb14
h r u?
vancouver suuny or rainy ?
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