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

  • #78,381
  • May 5, 2008 9:06pm May 5, 2008 9:06pm
Quoting kstorm88
well currently i only specialize in the g/j so i'm trying to keep things simple and try to learn the manerisms of this pair. (which i difficult) anyway, why do you think it's the only time to trade? just more predictable or what?
This pair can be unpredictable even during London. JPY is tied to the stock market, which you should know is unpredictable. Unless you are a stock trader. Other more predictable pairs with less spreads, usd/chf, gbp/chf, and others, anyway. Yes London is more predictable it tends to go in 1 direction, more volume and more banks, which makes it harder for day traders to change the trend.
  • #78,382
  • May 5, 2008 9:13pm May 5, 2008 9:13pm
Quoting Clouds
New York is like trading with a bunch of crack addicts.


Most of the time I have to agree with you.
  • #78,383
  • Edited 9:44pm May 5, 2008 9:30pm | Edited 9:44pm
206.50 area is very tough to break so far. If it breaks, it'd possibly dip another 200 pips give or take (@204.80 support). Otherwise, this would be the turning point to resume the uptrend again .. thinking to close my short position before bed
On the other hand, is also quite unusual if London will not try to break it at all ..hmhm ..decision .. decision ..

p.s. Closed short position .. expecting a better sleep
  • #78,384
  • May 5, 2008 9:36pm May 5, 2008 9:36pm
ephisi

earlier u said u exited ur short cos u spoted a divergence
can u pls post a chart of this? thanks
  • #78,385
  • May 5, 2008 9:43pm May 5, 2008 9:43pm
Quoting mktjong
206.50 area is very tough to break so far. If it breaks, it'd possibly dip another 200 pips give or take (@204.80 support). Otherwise, this would be the turning point to resume the uptrend again .. thinking to close my short position before bed
On the other hand, is also quite unusual if London will not try to break it at all ..hmhm ..decision .. decision ..
206.93 is very tough to break also.
  • #78,386
  • May 5, 2008 9:49pm May 5, 2008 9:49pm
Quoting Clouds
206.93 is very tough to break also.
I agree, still bearish bias. But am gonna bed now .. closed the short position ..try it again tomorrow. Thanks.
Good nite
  • #78,387
  • May 5, 2008 10:01pm May 5, 2008 10:01pm
I know this pair isn't in thread, but GBP/AUD looks interesting now...
  • #78,388
  • May 5, 2008 10:01pm May 5, 2008 10:01pm
Quoting Ruggedman
ephisi

earlier u said u exited ur short cos u spoted a divergence
can u pls post a chart of this? thanks

Sorry ruggedan, wa asleep looking at a chart of UJ and GJ 30min / 1hr you would obsever that UJ and GJ were supporeted for about 30mins to 1hr at the bottom.

i checked for divergence then. See the redlines and black lines. sorry i couldnt indicate properly.

basically price is moving down while the indicatores are moving up showing a regular divergence
Attached Image
  • #78,389
  • May 5, 2008 10:22pm May 5, 2008 10:22pm
I didn't post my sell target last night and it was hit. So rather than talk about the past where anybody can be a guru, I thought I would put it all out there and share my early evening target for today. (of course there is great value in historical data as patterns do tend to repeat themselves.) Also I thought I should clarify my comment a couple nights ago. I said banks are shorting commodity pairs. Actually in the short term it appears to be NZD and CAD. Which means NZD/USD down and USD/CAD up. I hear they are still bullish in the short term on the Aussie.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 5m 050508a.jpg Size: 148 KB
Energy and persistence conquer all things! Ben Franklin
  • #78,390
  • May 5, 2008 10:49pm May 5, 2008 10:49pm
if 1hr candle closes above the pesky 1h5 50ema and new 4hr MoM is bullish, i will long on the retest of 1hr 50ema.
  • #78,391
  • May 5, 2008 10:58pm May 5, 2008 10:58pm
Quoting ak4x
CLASSIC ranging price action on pivots from session open at 5:00 pm est!!

My feeling for Asia is the mid-points (not shown) between daily and M2 at 206.86 high and M2/ S1 at 206.30ish low. Got no gas...
Sweet... The entire Asian session so far in a Pivot nutshell. The brown line (206.86) labeled 3QP ( for 3rd Quarter Point) is actually the mid point between M2 and the Daily. I calculate them manually when needed, like tonite at 5pm or so.

Surprising how often they work when it's slow. Try them next time your usual cast of lagging indi's don't have enough juice to work with and they all go flat.

1QP would be the mid point between M2 and S1, and so on wherever you need them; basically dividing up the space between main pivots into quarters. Green line is session open or central pivot. (thank you dove, wherever you are...)

Same thing on UJ. Daily = 105.05. / 3QP + 104.92 / M2 = 104.79 / 1QP = 104.65.
Attached Images
FUBAR...
  • #78,392
  • May 5, 2008 11:25pm May 5, 2008 11:25pm
http://i235.photobucket.com/albums/e...oto/London.png
  • #78,393
  • May 5, 2008 11:59pm May 5, 2008 11:59pm
Price is currently sandwiched between the 1 hr 50 ema @ 207.05, and the 1 hr 200 ema or the 4hr 50 ema at approx 206.40. This is also the 23.8 fib of the daily up move. USD/YEN also seems to be at a cross roads at 105.00 region.

Until gbp/yen breaks one of these price regions any attempt to long or short is very uncertain.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 31 KB
Click to Enlarge Name: usdjpy.gif Size: 21 KB
  • #78,394
  • May 6, 2008 12:00am May 6, 2008 12:00am
London = Bullish, or bearish.
  • #78,395
  • May 6, 2008 12:01am May 6, 2008 12:01am
The weekly stoch looks soooooooooooo nice for a long
  • #78,396
  • May 6, 2008 12:03am May 6, 2008 12:03am
Quoting forexlion
The weekly stoch looks soooooooooooo nice for a long

216 by next Friday. Honestly.
  • #78,397
  • May 6, 2008 12:04am May 6, 2008 12:04am
Quoting shakesfx
London = Bullish, or bearish.
Range for now, until eithe 1hr qqe or 4hr qqe crosses and confirms. As Godfrey pointed out we are sandwcihed. chect it out we have been tradeing a 70pip channel for the past 20hrs. im on d sidelines 4now
  • #78,398
  • May 6, 2008 12:06am May 6, 2008 12:06am
well clouds here i am...2am yipee!! looks interesting i must say...
  • #78,399
  • May 6, 2008 12:08am May 6, 2008 12:08am
UJ looks good....
  • #78,400
  • May 6, 2008 12:09am May 6, 2008 12:09am
Quoting kstorm88
well clouds here i am...2am yipee!! looks interesting i must say...
Hey
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