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

  • #78,081
  • May 4, 2008 10:12am May 4, 2008 10:12am
http://imagebin.org/17508
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Failure, is a wonderful teacher!
  • #78,082
  • May 4, 2008 10:38am May 4, 2008 10:38am
thanks Scrat. it wasn't a typo. i might need to read more about hidden divergence, which is what i'm doing right now, thanks for the correction

no matter how much any of u think i'm good, guess what, i'm still learning


Quoting Scrat
lilmoe, might be just a typo... check your charts again, on h1 i see a hidden bullish and not a classical bearish divergence...
here's the chart. i marked the divergence which can be seen on ALL oscillators. on a close above HiLo i would go long all the way to above 209.
  • #78,083
  • May 4, 2008 11:00am May 4, 2008 11:00am
Quoting Scrat
lilmoe, might be just a typo... check your charts again, on h1 i see a hidden bullish and not a classical bearish divergence...
here's the chart. i marked the divergence which can be seen on ALL oscillators. on a close above HiLo i would go long all the way to above 209.
Hi Scrat,

I know you are the master of divergence set up. However I think I do see the classic bearish divergence forming on 1hr.

30 min chart, however, speaks it wants to go up.

Please let me know what you think.
IMHO, the upside move might be limited to 209 or (211 @ MAX). After that, I think the bear will take control. Thanks.
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  • #78,084
  • May 4, 2008 11:16am May 4, 2008 11:16am
Guys i was just checking www.xe.com and |Gj seems to be moving 20pips a minute. i usually check xe during weekends to see curent price.seems to be a loot of action dis weekend. someone correct me if im wrong

as i type i see 207.97.
  • #78,085
  • May 4, 2008 11:24am May 4, 2008 11:24am
it's been 207.97 since friday night...
xe starts working at 7pm GMT i think...


Quoting ephisi
Guys i was just checking www.xe.com and |Gj seems to be moving 20pips a minute. i usually check xe during weekends to see curent price.seems to be a loot of action dis weekend. someone correct me if im wrong

as i type i see 207.97.
  • #78,086
  • May 4, 2008 11:29am May 4, 2008 11:29am
i saw 207.67 and 207.81 a few minutes ago
  • #78,087
  • May 4, 2008 11:33am May 4, 2008 11:33am
ok, i see that now, cool, currently at 207.95 now.
seems like there won't be any gap, but it's early to say that i guess.

Quoting ephisi
i saw 207.67 and 207.81 a few minutes ago
  • #78,088
  • May 4, 2008 11:34am May 4, 2008 11:34am
Quoting lilmoe
ok, i see that now, cool, currently at 207.95 now.
seems like there won't be any gap, but it's early to say that i guess.
cnnfn is more accurate
Patience + Humility + Study = Success
  • #78,089
  • Edited 11:48am May 4, 2008 11:35am | Edited 11:48am
yes, you are right, but i was talking about the one i indicated in my previous chart.
the classic bearish is there, already formed (it can also be seen on CCI and Stoch). however, it is not safe to trade it until we see a hourly close below the red trendline. and then we'll be heading to 204.8 area first.
as for the upside, i was thinking about 209.8 area... but we'll see.

p.s. i have said it before and i'll keep saying it again: just because we see a divergence, it doesn't mean that price will reverse. we need to see the CONFIRMATION, which in my case is a trendline break (HiLo can also be used instead of a trendline in some cases, mostly on usd pairs... but it needs different values for different pairs).

Quoting pkimnyc
Hi Scrat,

I know you are the master of divergence set up. However I think I do see the classic bearish divergence forming on 1hr.

30 min chart, however, speaks it wants to go up.

Please let me know what you think.
IMHO, the upside move might be limited to 209 or (211 @ MAX). After that, I think the bear will take control. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: gjh1div.gif Size: 20 KB
Nihil Sine Deo.
  • #78,090
  • May 4, 2008 11:43am May 4, 2008 11:43am
scrat can u check ur PMs please?

Quoting Scrat
yes, you are right, but i was talking about the one i indicated in my chart.
the classic bearish is there, already formed (it can also be seen on CCI and Stoch). however, it is not safe to trade it until we see a hourly close below the red trendline. and then we'll be heading to 204.8 area first.
as for the upside, i was thinking about 209.8 area... but we'll see.

p.s. i have said it before and i'll keep saying it again: just because we see a divergence, it doesn't mean that price will reverse. we need to see the CONFIRMATION, which in my case is a trendline break (HiLo can also be used instead of a trendline in some cases, mostly on usd pairs... but it needs different values for different pairs).
  • #78,091
  • May 4, 2008 11:52am May 4, 2008 11:52am
took me a little bit more to answer... i had to upload a file, you'll see why.

Quoting lilmoe
scrat can u check ur PMs please?
Nihil Sine Deo.
  • #78,092
  • May 4, 2008 11:58am May 4, 2008 11:58am
http://www.forexfactory.com/showpost...ostcount=10536
Indicators show the past. Price Action "Indicates" the future.
  • #78,093
  • May 4, 2008 12:15pm May 4, 2008 12:15pm
Quoting jarroo
http://www.forexfactory.com/showpost...ostcount=10536
Nihil Sine Deo.
  • #78,094
  • May 4, 2008 12:33pm May 4, 2008 12:33pm
Quoting jarroo
http://www.forexfactory.com/showpost...ostcount=10536

gr8 analyses bro i like ur charts
  • #78,095
  • May 4, 2008 12:36pm May 4, 2008 12:36pm
thanks
Quoting Scrat
took me a little bit more to answer... i had to upload a file, you'll see why.
  • #78,096
  • May 4, 2008 1:29pm May 4, 2008 1:29pm
If GJ drop tmrw from 207.42

1st target 206.60

2nd target 205.96

3rd target 205.39

If close below 205.39 ...we will see free fall
  • #78,097
  • May 4, 2008 1:36pm May 4, 2008 1:36pm
Quoting PandoraBox
If GJ drop tmrw from 207.42

1st target 206.60

2nd target 205.96

3rd target 205.39

If close below 205.39 ...we will see free fall

Please take note JPY and GBP is on holiday for monday and tuesday.
  • #78,098
  • May 4, 2008 1:38pm May 4, 2008 1:38pm
Well at the moment:

http://www.xe.com/

209.269

So much for the holidays huh... lol
  • #78,099
  • May 4, 2008 1:43pm May 4, 2008 1:43pm
ya allah
hi all
hi dear jerry , howard , jarroo
  • #78,100
  • May 4, 2008 1:45pm May 4, 2008 1:45pm
Quoting shakesfx
Jumped off the Long rocket from 206 at 208.20, short bear dumped from 208.67 at 207.55 and now Long from this 207.55 level....

My reasons for going Long?

a.) Market didn't sell off as expected on a Friday NY close (IMOH)
b.) Daily Candles still trading above 5sma and 55sma
c.) Price Action on daily candle formation shows me more potential upside
d.) Price may gap up quickly on Sunday evening (BST) as the market was waitng to see quick fall on Friday close which didn't materialise...
e.) 15mins chart shows me QQE neutral, MACD neutral, Zero Stochs are neutral but potential to cross over 50 with bullish bias.
f.) 1HR Chart shows me QQE above 50, Z Stochs above 50, MACD neutral - bullish bias
g.)4 HR Chart shows me same as 1hr, but MACD above 0 also. Price being conjested into a breakout triangle.
h.) Daily chart shows me Slow Stochs curling up, QQE above 0 and curling up, MACD above 0, Bull candle -doji - bull candle...breakout to above 209 very possible according to this Price Action.
i.) Weekly chart is impressive with huge bullish bias...QQE Crossed, MACD crossed, Z Stochs crossed, Gann Hi Lo and 5sam crossed, 2 weeks Dojis with plenty of buyers found at 203.46...
j.) Monthly Chart shows impressive bullish bias too...

So, I have all charts lining up with Bullish bias with Price Action to confirm...
Comments welcome as I could be wrong of course. We could have a retracement back to 203.46 first, but I doubt it...I will be using dips to add more Longs...But I seriously think we will break 209 and not look back on Monday...remember Monday is a Holiday in the UK...so lack of volume may add to volatility again like I predicted last week.

Thankyou all for a humorous forum and different trading ideas, I know we all aren't right all of the time, but different ways of interpreting charts and PA has helped my trading enormously since arriving here. Many Thanks to all. Have a great weekend and I look forward to seeing where this trade goes on Monday/Tues.

Here are my charts, 15mins, 1hr, 4hr,Daily, Weekly and Monthly...maybe you can see a pattern evolving here too or I could be imagining it all...

Like I said, comments more than welcome either way bros
xe.com is showing above 209.29 ...next hour should be interesting...
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