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

  • #79,561
  • May 8, 2008 9:42pm May 8, 2008 9:42pm
Quoting ephisi
New 4hr MOM still pointing upwards, exited my shorts for 40pips.

shorts be careful it sems longs willl come in play by london

My new 4h pointing downwards seems shorts ill come in action by London and new york
  • #79,562
  • May 8, 2008 9:50pm May 8, 2008 9:50pm
202.5 is pretty strong support, it's held for since NY open. So has 1.95
  • #79,563
  • May 8, 2008 9:57pm May 8, 2008 9:57pm
i know i said it was heading down, but let's stare at this chart for a moment.
yes, we had a trendline break (a close below)... BUT at this moment i see strong OS conditions; from my experience, a valid breakout is almost ALWAYS accompanied by oscillator crossing AT THE SAME TIME on the other side - in this case, stochastic beyond 50 & cci beyond 0. but just look at this drop, looks like it's already exhausted (stochastic is already around 10 while cci is around -170).
and don't you think this looks like a huge hidden bullish divergence?
Attached Image (click to enlarge)
Click to Enlarge Name: gjd.gif Size: 18 KB
Nihil Sine Deo.
  • #79,564
  • May 8, 2008 10:08pm May 8, 2008 10:08pm
Quoting Scrat
i know i said it was heading down, but let's stare at this chart for a moment.
yes, we had a trendline break (a close below)... BUT at this moment i see strong OS conditions; from my experience, a valid breakout is almost ALWAYS accompanied by oscillator crossing AT THE SAME TIME on the other side - in this case, stochastic beyond 50 & cci beyond 0. but just look at this drop, looks like it's already exhausted (stochastic is already around 10 while cci is around -170).
and don't you think this looks like a huge hidden bullish divergence?
Yeah i think so, G should be bullish, and Yen and USD are just playing games. But, if it breaks that level, it could go down.
  • #79,565
  • May 8, 2008 10:11pm May 8, 2008 10:11pm
Quoting Scrat
i know i said it was heading down, but let's stare at this chart for a moment.
yes, we had a trendline break (a close below)... BUT at this moment i see strong OS conditions; from my experience, a valid breakout is almost ALWAYS accompanied by oscillator crossing AT THE SAME TIME on the other side - in this case, stochastic beyond 50 & cci beyond 0. but just look at this drop, looks like it's already exhausted (stochastic is already around 10 while cci is around -170).
and don't you think this looks like a huge hidden bullish divergence?
What??? It is a very obvious bearish divergence. Or maybe you have more other ideas of how to look at the chart.
  • #79,566
  • May 8, 2008 10:14pm May 8, 2008 10:14pm
no, it would be a HIDDEN bullish. i marked it with arrows on price / white lines on indicators.

Quoting mktjong
What??? It is a very obvious bearish divergence. Or maybe you have more other ideas of how to look at the chart.
Nihil Sine Deo.
  • #79,567
  • May 8, 2008 10:19pm May 8, 2008 10:19pm
Quoting Scrat
i know i said it was heading down, but let's stare at this chart for a moment.
yes, we had a trendline break (a close below)... BUT at this moment i see strong OS conditions; from my experience, a valid breakout is almost ALWAYS accompanied by oscillator crossing AT THE SAME TIME on the other side - in this case, stochastic beyond 50 & cci beyond 0. but just look at this drop, looks like it's already exhausted (stochastic is already around 10 while cci is around -170).
and don't you think this looks like a huge hidden bullish divergence?
GJ already cross your trendline break and it close below it. Previously just touch and up again...now it is totaly diffrent game, and Daily candle close the trendline break....
  • #79,568
  • May 8, 2008 10:21pm May 8, 2008 10:21pm
Price going up, oscillators pointing down equals bearish divergence. Price needs to catch up with oscillators.

Although I do agree that it seems to be "tired".

But I have seen G/Y in oversold for days as it flushes down the proverbial toilet.
  • #79,569
  • May 8, 2008 10:21pm May 8, 2008 10:21pm
The trend is your friend
Patience + Humility + Study = Success
  • #79,570
  • May 8, 2008 10:23pm May 8, 2008 10:23pm
This is an example of bullish hidden divergence. See attached.
Attached Image (click to enlarge)
Click to Enlarge Name: Divergence.jpg Size: 185 KB
  • #79,571
  • May 8, 2008 10:26pm May 8, 2008 10:26pm
Oh MY .
GBP/CAD sure can move. 750 drop
  • #79,572
  • May 8, 2008 10:26pm May 8, 2008 10:26pm
Quoting Scrat
no, it would be a HIDDEN bullish. i marked it with arrows on price / white lines on indicators.
That's right Scrat. The histogram and CCI are trending down and price is trending up. If it is not bearish divergence, what is it then? I've never seen a bullish divergence in this kind of scenario.
But on the other hand, the 4 hr chart slow stoch starting to form bullish divergence but depending if the support 202.30 holds.
  • #79,573
  • May 8, 2008 10:27pm May 8, 2008 10:27pm
Will GJ bounce from here ? Well today closing price will be my next week trade indi If price stay above 202.4 i will in bull camp or else bear it is
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 19 KB
Sometimes in order to see the light, you have to risk the dark
  • #79,574
  • Edited 11:15pm May 8, 2008 10:30pm | Edited 11:15pm
Hi guys, I saw this indicator that uses the Dow/Nasdaq/Nikkei/Ftse for daily Yen pair entries, you guys might find it interesting if you can understand how it works.

Find the thread Here...
Attached File(s)
File Type: mq4 DowTarget - Dow+Nasdaq For Yen.mq4   10 KB | 469 downloads
  • #79,575
  • May 8, 2008 10:31pm May 8, 2008 10:31pm
no. let me point it out again for you. look at this (it's from babypips, by the way): the definition of the bullish hidden divergence - higher low in price, but lower low in indicator.

Quoting mktjong
That's right Scrat. The histogram and CCI are trending down and price is trending up. If it is not bearish divergence, what is it then? I've never seen a bullish divergence in this kind of scenario.
But on the other hand, the 4 hr chart slow stoch starting to form bullish divergence but depending if the support 202.30 holds.
Attached Image
Nihil Sine Deo.
  • #79,576
  • May 8, 2008 10:34pm May 8, 2008 10:34pm
and now look at this. do you see any resemblance?
Attached Image (click to enlarge)
Click to Enlarge Name: gjdiv.gif Size: 16 KB
Nihil Sine Deo.
  • #79,577
  • May 8, 2008 10:35pm May 8, 2008 10:35pm
Quoting Scrat
no. let me point it out for you again. look at this (it's from babypips, by the way).
hmm .. ok, it's strange to me. Anyway, let's see how it plays out tonite. Either way, we can earn pips
  • #79,578
  • May 8, 2008 10:36pm May 8, 2008 10:36pm
If all still confius just put sell and buy together ...
  • #79,579
  • May 8, 2008 10:37pm May 8, 2008 10:37pm
Sorry, i know this GU GJ thread, but doesnt GCad look dreamy? Cad being bearish, G being bullish. Has already gone up 350 pips with many more to go. Any opinions?
  • #79,580
  • May 8, 2008 10:40pm May 8, 2008 10:40pm
Quoting Scrat
no. let me point it out again for you. look at this (it's from babypips, by the way): the definition of the bullish hidden divergence - higher low in price, but lower low in indicator.
Thanks Scrat,

Always appreciate a solid explanation.
Will check it out.
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