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

  • #75,701
  • Apr 27, 2008 7:18pm Apr 27, 2008 7:18pm
Quoting frevd
meh, me, and not happy with it yet..
Me too. Even though the trend is up but it is retracing as I see it. We may not be greedy .. retraces 100-200 pips is good enough for me
  • #75,702
  • Apr 27, 2008 7:21pm Apr 27, 2008 7:21pm
Short @ 207.58...
  • #75,703
  • Apr 27, 2008 7:26pm Apr 27, 2008 7:26pm
Quoting mktjong
Me too. Even though the trend is up but it is retracing as I see it. We may not be greedy .. retraces 100-200 pips is good enough for me
  • #75,704
  • Apr 27, 2008 7:35pm Apr 27, 2008 7:35pm
Quoting frevd
my radar says long on all time frames

Attached Image (click to enlarge)
Click to Enlarge Name: gj radar.jpg Size: 150 KB
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  • #75,705
  • Apr 27, 2008 7:35pm Apr 27, 2008 7:35pm
Quoting malcolmb14
my radar says long on all time frames

Attachment
Indicators show the past. Price Action "Indicates" the future.
  • #75,706
  • Apr 27, 2008 7:47pm Apr 27, 2008 7:47pm
Quoting malcolmb14
my radar says long on all time frames
interesting, and how is your excel radar doing usually, performance-wise?
what do you base this on? i mean every MA will tell me i shall go long, but how do you know whether it wont reverse at anytime?
Maybe it really is long, but i have an open short position to rescue (from last week..).
  • #75,707
  • Apr 27, 2008 7:48pm Apr 27, 2008 7:48pm
Quoting mktjong
Just wondering .. besides Shahroodi, is anybody else shorting this pair or going to short it soon?
Thanks.
Yep, short @ 207.35. . .
  • #75,708
  • Apr 27, 2008 7:49pm Apr 27, 2008 7:49pm
My QQE system is indicating a long, but price has stalled at resistance-1 last week, I would like to see it clear this area, before I go long. QQE's have to turn down before I consider a short.

I am also taking advantage of InterbankFX's short "Sunday day" to trade it as an inside bar. So I would look for a break of the levels identified.
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  • #75,709
  • Apr 27, 2008 7:55pm Apr 27, 2008 7:55pm
Oil price is rising I think it is due to this news.

Link: http://www.bloomberg.com/apps/news?p....4E&refer=home

If oil price rises is hurting Yen, thus Yen would weaken. Rising oil price would drive Euro to high again, hence causes UJ to weaken. Would this scenario cause GJ to weaken or strengthen?
  • #75,710
  • Apr 27, 2008 7:58pm Apr 27, 2008 7:58pm
Quoting mktjong
Oil price is rising I think it is due to this news.

Link: http://www.bloomberg.com/apps/news?p....4E&refer=home

If oil price rises is hurting Yen, thus Yen would weaken. Rising oil price would drive Euro to high again, hence causes UJ to weaken. Would this scenario cause GJ to weaken or strengthen?
I'm really not a fundamental but since it is bad for uk it should push gj down. we can currently see an effect on currency cad since this is strongly bound to oil news afaik. what effect this can have on yen i dont know..
  • #75,711
  • Apr 27, 2008 7:58pm Apr 27, 2008 7:58pm
Quoting GodfreyH
My QQE system is indicating a long, but price has stalled at resistance-1 last week, I would like to see it clear this area, before I go long. QQE's have to turn down before I consider a short.

I am also taking advantage of InterbankFX's short "Sunday day" to trade it as an inside bar. So I would look for a break of the levels identified.
Sunday Bars are usually not in play when trading Price Action. And I try to ignore them. But, I have traded them in the past.
Indicators show the past. Price Action "Indicates" the future.
  • #75,712
  • Apr 27, 2008 8:04pm Apr 27, 2008 8:04pm
Quoting frevd
interesting, and how is your excel radar doing usually, performance-wise?
what do you base this on? i mean every MA will tell me i shall go long, but how do you know whether it wont reverse at anytime?
Maybe it really is long, but i have an open short position to rescue (from last week..).

the sma 10,20 , 50 will tell me to go short as the 10 , crosses down thru the 20 , crosses down thru the 50 , as the lower time frames reverse the higher ones will follow.

RSI crossing 50 ... tells me where the rsi 14 is. and tells me if it is coming out of overbought or oversold. I have also programmed it to tell me when it is crossing 40 , 50 and 60 on the rsi values as i use these as pivots for higher time frames like 60 min to 2 hour.

smaa momentum is a new one , but acts in a very similar nature to rapid rsi that I like to use in esignal and is very useful.

I am getting a Rapid response smoothed RSI programmed for Tradestation and radar will be extremely effective once I get this.

I have used radar in Tradestation in the past for playing open range breakouts of forex and futures to a very high degree of success and it is just another tool.

accuracy .... about as good as any other method 70-75%

anyone that claims they have something that works 100% of the time or make makes money 100% of the time is BSing.
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  • #75,713
  • Apr 27, 2008 8:04pm Apr 27, 2008 8:04pm
Quoting quecee5
Yep, short @ 207.35. . .
...Quecee may I ask on what basis you decided to go short. I don't see any really compelling reasons, unless ...4hr retrace?
  • #75,714
  • Apr 27, 2008 8:04pm Apr 27, 2008 8:04pm
Quoting GodfreyH
...Quecee may I ask on what basis you decided to go short. I don't see any really compelling reasons, unless ...4hr retrace?
Ditto that.
Indicators show the past. Price Action "Indicates" the future.
  • #75,715
  • Apr 27, 2008 8:05pm Apr 27, 2008 8:05pm
Quoting jarroo
Sunday Bars are usually not in play when trading Price Action. And I try to ignore them. But, I have traded them in the past.
  • #75,716
  • Apr 27, 2008 8:10pm Apr 27, 2008 8:10pm
Quoting SuperV900
Short @ 207.58...
Dodged that.. out at 207.47 and long from there... Hope that was the right thing to do. Still having a hard time with this..
  • #75,717
  • Apr 27, 2008 8:12pm Apr 27, 2008 8:12pm
Quoting mktjong
Oil price is rising I think it is due to this news.

Link: http://www.bloomberg.com/apps/news?p....4E&refer=home

If oil price rises is hurting Yen, thus Yen would weaken. Rising oil price would drive Euro to high again, hence causes UJ to weaken. Would this scenario cause GJ to weaken or strengthen?
Quoting frevd
I'm really not a fundamental but since it is bad for uk it should push gj down. we can currently see an effect on currency cad since this is strongly bound to oil news afaik. what effect this can have on yen i dont know..
Normally stocks don't like higher oil price. I think London would drive this pair down .. hehee
  • #75,718
  • Apr 27, 2008 8:13pm Apr 27, 2008 8:13pm
Quoting malcolmb14
the sma 10,20 , 50 will tell me to go short as the 10 , crosses down thru the 20 , crosses down thru the 50 , as the lower time frames reverse the higher ones will follow.

RSI crossing 50 ... tells me where the rsi 14 is. and tells me if it is coming out of overbought or oversold. I have also programmed it to tell me when it is crossing 40 , 50 and 60 on the rsi values as i use these as pivots for higher time frames like 60 min to 2 hour.

smaa momentum is a new one , but acts in a very similar nature to rapid rsi that I like to use in esignal and is very useful.

I am getting a Rapid response smoothed RSI programmed for Tradestation and radar will be extremely effective once I get this.

I have used radar in Tradestation in the past for playing open range breakouts of forex and futures to a very high degree of success and it is just another tool.

accuracy .... about as good as any other method 70-75%

anyone that claims they have something that works 100% of the time or make makes money 100% of the time is BSing.
Very, very true...
  • #75,719
  • Apr 27, 2008 8:14pm Apr 27, 2008 8:14pm
Quoting SuperV900
Dodged that.. out at 207.47 and long from there... Hope that was the right thing to do. Still having a hard time with this..
20 min ascending triangle , trying to break top
breaking 38.2 fib expansion ( next target if this has a clear break = 208.95)
macd pointing up for now
rsi above 60 and pointing up

all are bullish for now

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  • #75,720
  • Apr 27, 2008 8:15pm Apr 27, 2008 8:15pm
Quoting GodfreyH
Notice divergence on daily ZL MACD as price continues to go up. . . This tells me that eventually price will catch up. Also, look at mom, which tells me that we should head down 1st before heading back up. . . Now we could see price hit daily R1 @ 207.59 which I believe it touched already which is also 78.6% fib from the up move started @ 203.30 area. . . I see it going down to 205.40.50 area, a break there will see 204.40 and then 203.30 again. . .

I'm looking for a bar below the zero line then we should see price head the same way. . .

Also, UJ might put in a double top @ 104.80 area and GU looks bearish and looks to be sitting on support @ 198.20 area. A break there would see it back at 1.9774. If UJ retreats it should see 103.34 support. . .

JMHO
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