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

  • #94,621
  • Jun 17, 2008 8:14am Jun 17, 2008 8:14am
Quoting mktjong
..

This is the most bizarre, controversial, funny, crazy yet interesting technique used in trading. I've heard certain galaxy or galatic position affects human mood and market is driven by human .. but this stretching is brought to the extreme ..very imaginative ..but won't call it creative as is yet to have big impact. Maybe I'm not a phsycologist or astrologist but am watching it with interest ...

Note: I apologized this is not a critique just my own feeling .. I have yet to understand human and market behavior.
Yes when tuned in it is the most powerful insturment. WD Gann was so well at it the asked him to stop trding for he could project predict and execute at any time any day with absolute certainty. He beat all markets. They asked him to quit trading, and Hide his secrets.....
"Millionaires don't use astrology, billionaires do"
  • #94,622
  • Jun 17, 2008 8:15am Jun 17, 2008 8:15am
Quoting lilmoe
scrat, can you check this out for me plz?

according toy our analysis, this doesn't have enough power to go through.

Attachment
the daily candle is still bearish, do u think it will move up today/
  • #94,623
  • Jun 17, 2008 8:21am Jun 17, 2008 8:21am
Quoting Clouds
the daily candle is still bearish, do u think it will move up today/

price is oversold bigtime.. it might move up. but sometimes, GJ just stalls and the lower TFs get out of their OS state, this would mean it will resume further down.

at this time i'm on the sidelins for GJ. i'm holding on to my cable long. and have a small short running on gbp/cad after closing most positions. gbp/cad saved my ass today, i suffered a 3% loss on cable today. lol
  • #94,624
  • Jun 17, 2008 8:25am Jun 17, 2008 8:25am
Quoting lilmoe
price is oversold bigtime.. it might move up. but sometimes, GJ just stalls and the lower TFs get out of their OS state, this would mean it will resume further down.

at this time i'm on the sidelins for GJ. i'm holding on to my cable long. and have a small short running on gbp/cad after closing most positions. gbp/cad saved my ass today, i suffered a 3% loss on cable today. lol
What? GJ oversold? .. come on bro ..u need a glasses
  • #94,625
  • Edited 10:41am Jun 17, 2008 8:28am | Edited 10:41am
Quoting mktjong
What? GJ oversold? .. come on bro ..u need a glasses
1hr/4hr looks to be setting up a move back to the 4hr 5 SMA @ 211.60 area which is also the 55 EMA on 1hr. . . I expect to see this move before anymore down movement. . . Daily looks bearish but the LTF needs to work this OS status out. . . I look to sell more there if it makes it up there. . . GU may be the catalyst to help it as $ is sold. . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr chart.gif Size: 10 KB
Click to Enlarge Name: 4hr chart.gif Size: 11 KB
  • #94,626
  • Jun 17, 2008 8:28am Jun 17, 2008 8:28am
Quoting mktjong
What? GJ oversold? .. come on bro ..u need a glasses
doesn't PA look a bit similar here?

Attached Image (click to enlarge)
Click to Enlarge Name: gh_h1_1.gif Size: 38 KB
  • #94,627
  • Jun 17, 2008 8:30am Jun 17, 2008 8:30am
Quoting lilmoe
doesn't PA look a bit similar here?

Attachment
Yes, it does but won't necessarily behave the same. You can found similar patterns in lower TF happens again and again and don't behave exactly the same afterwards .. I am sure you notice that too in lower TF.
  • #94,628
  • Jun 17, 2008 8:37am Jun 17, 2008 8:37am
Quoting quecee5
1hr/4hr looks to be setting up a move back to the 4hr 5 SMA @ 211.60 area which is also the 55 EMA on 1hr. . . I expect to see this move before anymore down movement. . . Daily looks bearish but the LTF needs to work this OS status out. . . I look to sell more there if it makes it up there. . . GU may the catalyst to help it as $ is sold. . .
you beat me to the post quecee.

4 hour shows a possible retrace to the 5 sma. Daily is bearish.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: geppy 4 hour.gif Size: 20 KB
Click to Enlarge Name: geppy daily 4.gif Size: 23 KB
  • #94,629
  • Jun 17, 2008 8:39am Jun 17, 2008 8:39am
how can anyone predict what the market is going to do, reversal signs, ect, ect.. and say this is going to do that before this, ? Also, what is 'really tough' support, and why is it so tough? Wasn't that said about 209, and if a support is so tough why not buy on it and make millions? Why not just put a buy order 40 pips above price, and a sell order 40 pips below price and go to sleep??
  • #94,630
  • Jun 17, 2008 8:41am Jun 17, 2008 8:41am
Quoting mktjong
Yes, it does but won't necessarily behave the same. You can found similar patterns in lower TF happens again and again and don't behave exactly the same afterwards .. I am sure you notice that too in lower TF.

yes i do actually. but when price is oversold, even on the lower TFs it doesn't go any lower. we need a breach of the TL i posted earlier. i'm not sure if we will get just now. maybe later tonight, but not now. price may either stall or retrace from here.
  • #94,631
  • Jun 17, 2008 8:44am Jun 17, 2008 8:44am
Quoting Clouds
how can anyone predict what the market is going to do, reversal signs, ect, ect.. and say this is going to do that before this, ? Also, what is 'really tough' support, and why is it so tough? Wasn't that said about 209, and if a support is so tough why not buy on it and make millions? Why not just put a buy order 40 pips above price, and a sell order 40 pips below price and go to sleep??
the charts will tell you where the market wants to go if you look for hints. I gave a buy on eur/gbp a few days ago way before it happened because i saw it on the charts.
  • #94,632
  • Jun 17, 2008 8:46am Jun 17, 2008 8:46am
Quoting ovaforty
the charts will tell you where the market wants to go if you look for hints. I gave a buy on eur/gbp a few days ago way before it happened because i saw it on the charts.
Trend lines is the only way trade, the only support and resistance are the trend lines.
  • #94,633
  • Jun 17, 2008 8:48am Jun 17, 2008 8:48am
Quoting mktjong
GM All .. yippeeeee .. wuuu huuuu .. patience really pays off
I've read a few last pages suggesting a bounce to the upside. Well, I have a different look. Even though this move is mainly driven by weak pound, I think other yen pairs would do the catch up soon. Yesterday and current Bond data supporting the move as well. Investors are buying back Yen due to yield differences. It may or may not be the risk aversion move.
UJ is still at overbought area as well as EJ. The uptrend is already in exhaustion (very rare to see over a week long of moving up with slow speed). Later on when we see UJ tanks, we would really see all Yen pairs tank across the board...The GJ still has a lot room to the downside...
Hopefully .. and cross my fingers ..
GM bro is see you got some good green pips on gj today....
Patience + Discipline - Greed = Success
  • #94,634
  • Edited 10:44am Jun 17, 2008 8:51am | Edited 10:44am
Quoting Clouds
how can anyone predict what the market is going to do, reversal signs, ect, ect.. and say this is going to do that before this, ? Also, what is 'really tough' support, and why is it so tough? Wasn't that said about 209, and if a support is so tough why not buy on it and make millions? Why not just put a buy order 40 pips above price, and a sell order 40 pips below price and go to sleep??
That's exactly what I did yesterday. . .
Sell at 212.75 additional sell orders above 213, SL @ 213.60 tp @ 210.80, check my post from yesterday ar'd this same time. . . Still holding 1/3 position to sell at lower price and looking to sell more on a rally failure. . .

The information is all in the charts, it's just a matter of interpretation of the charts and your trading experience. . .

Now, here is one for ya. . . UJ. . .

Short at 108.38, SL @ 108.60 area TP @ 107.40, 107, and 106.50 - a break there and I will hold 1/3 position to TP @ 105.40 area. . . It might take a day or two or even until the end of the week. . . Patience is the key. . .

Btw, I make 3-5 trades a week but these trades are worth a min. of 200 pips per trade. . . I find this better than short term trading or chasing the market. Take a trade, stick with it until u see something has changed in your analysis. . .

Trading is all about risk vs. reward. . . How much are you willing to lose if you make the wrong trading call and what have you done to safeguard your capital from excessive losses. . .
  • #94,635
  • Jun 17, 2008 8:55am Jun 17, 2008 8:55am
Quoting ovaforty
here is a set up for ya on the eur/gbp daily. Wedge formation. Tightening range. Breakout is coming. Look for a rejection at the bottom of the range to buy it.
I posted this set up on june 10. it takes a while for set ups to work out.
  • #94,636
  • Jun 17, 2008 8:58am Jun 17, 2008 8:58am
here is the chart on todays chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp 2.gif Size: 27 KB
  • #94,637
  • Jun 17, 2008 8:59am Jun 17, 2008 8:59am
Quecee tells you quite often what a pair will do before it happens......
  • #94,638
  • Jun 17, 2008 9:00am Jun 17, 2008 9:00am
Daily chart. . .
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 11 KB
  • #94,639
  • Jun 17, 2008 9:01am Jun 17, 2008 9:01am
where is shakefx, toyboy tramp and many others??? did they blow accounts already??
  • #94,640
  • Jun 17, 2008 9:02am Jun 17, 2008 9:02am
Watch NZD/USD.
Tends to be a nice indicator for carry trade direction.
Also NZD/JPY.
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