Auslanco - GBP/JPY and GBP/USD (newstrade)
- #105,201
- Aug 2, 2008 1:36pm Aug 2, 2008 1:36pm
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #105,203
- Aug 2, 2008 3:52pm Aug 2, 2008 3:52pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #105,205
- Aug 2, 2008 4:06pm Aug 2, 2008 4:06pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
August Top @ 218 before a reversal ???
- #105,206
- Edited 4:23pm Aug 2, 2008 4:11pm | Edited 4:23pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
Hey there, Aus! Hope you had a great vacation!
You have not been on since I started on this threed, I just wanted to say thanks, this is the best thread on FF. In the three weeks that I have been participating, my trading is much improved.
Jeff
Hi Pips crusier and Jeff,
Had a long vacation to recharge my batteries. I was back in Aussie two weeks ago but had to wait for my new internet connection . Good to see you guys here.
- #105,207
- Aug 2, 2008 4:20pm Aug 2, 2008 4:20pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
- #105,208
- Aug 2, 2008 4:25pm Aug 2, 2008 4:25pm
- Joined Aug 2007 | Status: Jamaica | 1,069 Posts
August Top @ 218 before a reversal ???
- #105,209
- Aug 2, 2008 4:51pm Aug 2, 2008 4:51pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #105,210
- Aug 2, 2008 5:01pm Aug 2, 2008 5:01pm
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #105,213
- Aug 2, 2008 6:10pm Aug 2, 2008 6:10pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
wow, is that really u? long time no see!
Lol. Who else would post those boring charts with the momentum indicator.
Hey! It's good to see you're back.
It's good to be back.
- #105,214
- Aug 2, 2008 6:12pm Aug 2, 2008 6:12pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #105,215
- Aug 2, 2008 6:23pm Aug 2, 2008 6:23pm
- Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts
Hopefully, it will reach 218. I got my long at 212.58. Good to finally meet you in person! I can't wait to study your analysis after our long ranging period.
You thinking there is place to some move ?
The monthly momnetum is bearish as you can see from my GJ charts I posted earler. However the Stochs are still rail tracks and it will certainly spike above the last month highs(215.89).
My swing strategy for this month,
I will enter my first short position @ 215.89 and I will add more positions @ 216.80 and 217.60 targeting lower 207. If the current monthly bar close above 218 ( highly unlikely), I will close all the short position with a big fat loss. Otherwise I'm expecting aprox 1000 pip fall after the price breaks the July highs.
But hey, EUR/JPY will give us a much more safer and a cleaner short trade this month.
- #105,216
- Aug 2, 2008 6:24pm Aug 2, 2008 6:24pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Hey where did you get that system?
As with all indicators it can show potential weakening in the investment instrument (forex , stocks, futures or bonds). You can place trend lines on it showing weakening or strengthening of the trend , or channeling or anything else for that matter .. .even sometimes heads and shoulders and double tops are easier to spot on the rsi than on the charts. ....
Here is 10 min chart of GBPJPY the other night before the 200 pip drops .. VERY clearly you can see the divergence ... was not expecting the 200 pip drop
The other chart is the gbpchf 10 min on Friday ... Very clearly on the rsi you can see the double top at 2.07400 , but you cannot see that double top on price action. That lead to a 70 pip drop .
If you want to learn more about the RSI read John Haydens book ' the complete rsi' . It is a bit dry , but none the less the information contained within it is very good.
Blogging daily now at www.volume.zone
- #105,218
- Aug 2, 2008 6:42pm Aug 2, 2008 6:42pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
With the massive Euro Weakening, I'm expecting a large fall on Eur/JPY towards 163 within this month. Above 168.50 would be the ideal area to enter shorts..
Just another argument for auslancos 163 area
Look at that bearish divergence on the rsi on the daily. We have had a run form 158 to 169 ish with no retracement. This is a very strong up trend and in these kind of trends one can expect a 38.2% retracement which is 162.84
Now for the entry and for this we will look at the 4 hour chart
168.5 would be a great area , as your risk is limited ( place the stop just above the resistance level of 170). We need to see if that pivot point on the 4 hour plays out and price heads to top of downward channel and trend line at 169 ( better place to short if we can get there)
Blogging daily now at www.volume.zone
- #105,219
- Aug 2, 2008 8:40pm Aug 2, 2008 8:40pm
- Joined Oct 2007 | Status: Saudi Arabia/Dubai | 3,584 Posts
With the massive Euro Weakening, I'm expecting a large fall on Eur/JPY towards 163 within this month. Above 168.50 would be the ideal area to enter shorts..
and WOW finally some one agree with me for EJ target
before 3 weeks i said EJ going to 163.50 then 160 but no body seems to care they are in bullish side.
so much respect for u and ur analysis
- #105,220
- Aug 2, 2008 9:20pm Aug 2, 2008 9:20pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
August Top @ 218 before a reversal ???
Your are back?
