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

  • #106,321
  • Aug 8, 2008 3:14pm Aug 8, 2008 3:14pm
Quoting autoexportkz
lilmoe You meaning other 600 pips I’m wondering it is became oversold
heck, the last time we were at this level we were in an uptrend, and price was overbought, i mean WAYYYYYYYYYYYYY overbought for 2 weeks on the daily chart... check it out: February of this year. 1.5000 has never been an SR level before, it went right through it without hiccups in that uptrend. that's why i'm sooo hesitant to buy at this level. it's like hussin said, it's more like a psychological S/R level.
  • #106,322
  • Aug 8, 2008 4:32pm Aug 8, 2008 4:32pm
Quoting lilmoe
this is the largest daily candle i've seen on euro... it's sitting EXACTLY on 61.8 fib. and the lowest oscillator value in daily candle history..we might have an exhaustion gap next week, i'm really itching to buy euro... however, on the longer term, we should be going back to 100%, the pattern is perfect

lots of pips!

Attachment
This is a good signal that the trend is coming down. Everyone knows what to do. Happy trading!
{Promotion Removed}
  • #106,323
  • Edited 4:46pm Aug 8, 2008 4:33pm | Edited 4:46pm
Trading range during the week of Aug 3 - 8

Pair ....Range............ Classification
EU .....over 600 pips... .......Beast
GU .....over 600 pips........... Beast
GJ ......just over 300 pips.... Tamed Poodle



Enjoy your weekend guys and don't forget to party....
Attached Image
Patience + Discipline - Greed = Success
  • #106,324
  • Aug 8, 2008 4:34pm Aug 8, 2008 4:34pm
Have a good weekend everyone!

  • #106,325
  • Aug 8, 2008 5:42pm Aug 8, 2008 5:42pm
Quoting lilmoe
lets put it this way: we need a daily closing well below 211 for this to resume nicely next week.

what a bummer.....

can't believe i'm making wayyy more on euro than GJ...

i'm already way above my monthly target trading other pairs + YM... i might call it a month NOT!

have a nice weekend everyone!
  • #106,326
  • Aug 8, 2008 6:30pm Aug 8, 2008 6:30pm
Quoting lilmoe
what a bummer.....

can't believe i'm making wayyy more on euro than GJ...

i'm already way above my monthly target trading other pairs + YM... i might call it a month NOT!

have a nice weekend everyone!
have a good one bro.
  • #106,327
  • Aug 8, 2008 7:54pm Aug 8, 2008 7:54pm
you know whats gotten me really confused?

Non farm productivity was up 2.2% on an estimated basis of 2.5%.

How can this lower than expected productivity be a positive for the currency as it's showing on the FF calendar?
  • #106,328
  • Aug 8, 2008 8:28pm Aug 8, 2008 8:28pm
Quoting Eulogy
you know whats gotten me really confused?

Non farm productivity was up 2.2% on an estimated basis of 2.5%.

How can this lower than expected productivity be a positive for the currency as it's showing on the FF calendar?
Its sometimes confusing, but its simple. Traders think that US will be the first country to come back out of this credit crunch. This means that they think that the FED will be the first to raise rates. This is due to BOE and ECB decision and rhetoric this week.

Look for a retracement from this rally on monday and then go long dollar. Just follow the trend even if it seems stupid.
  • #106,329
  • Aug 8, 2008 8:45pm Aug 8, 2008 8:45pm
no no no daanman3, you missed my point.

What i'm saying is that the FF calendar has the figure 2.2% highlighted in green next to the expectation 2.5%
  • #106,330
  • Aug 8, 2008 9:03pm Aug 8, 2008 9:03pm
Quoting Eulogy
no no no daanman3, you missed my point.

What i'm saying is that the FF calendar has the figure 2.2% highlighted in green next to the expectation 2.5%
Oh ok I see. That is just Prelim Nonfarm Productivity q/q. Traders don't care about such forward indicators.

That is not the important Nonfarm you are think of.

Nonfarm Employment Change is the very important one. Look for the one with the red box.
  • #106,331
  • Aug 8, 2008 9:13pm Aug 8, 2008 9:13pm
Quoting daanman3
Oh ok I see. That is just Prelim Nonfarm Productivity q/q. Traders don't care about such forward indicators.

That is not the important Nonfarm you are think of.

Nonfarm Employment Change is the very important one. Look for the one with the red box.
It doesn't matter if its an important indicator or not, the figure should still indicate the correct colouration and since the revision was red after it was adjusted upwards (more productivity, 2.2% to 2.6%) it leads me to believe that i'm missing something important.

No, i'm do not think this is the same as NFP thank you because quite frankly i was there Friday 1st posting the results the minute they came up on my screen.

FF sometimes also gets the red box confused. I've seen Euro overnight cash rates some months displayed in orange and some in red.
  • #106,332
  • Aug 8, 2008 10:27pm Aug 8, 2008 10:27pm
Quoting Eulogy
It doesn't matter if its an important indicator or not, the figure should still indicate the correct colouration and since the revision was red after it was adjusted upwards (more productivity, 2.2% to 2.6%) it leads me to believe that i'm missing something important.

No, i'm do not think this is the same as NFP thank you because quite frankly i was there Friday 1st posting the results the minute they came up on my screen.

FF sometimes also gets the red box confused. I've seen Euro overnight cash rates some months displayed in orange and some in red.
Sorry I misread your question. Its a mistake by Forex Factory. I have seen this mistake before also.
  • #106,333
  • Aug 9, 2008 3:41am Aug 9, 2008 3:41am
Quoting amed12
there is not a powerful indicator like the big dog
sure!
  • #106,334
  • Aug 9, 2008 5:50am Aug 9, 2008 5:50am
Quoting arezab
yep ...

http://www.forexfactory.com/attachme...1&d=1218175389
Up to you how you want to describe resistance

http://i112.photobucket.com/albums/n...y/DX090808.jpg
  • #106,335
  • Aug 9, 2008 8:31am Aug 9, 2008 8:31am
Quoting Eulogy
you know whats gotten me really confused?

Non farm productivity was up 2.2% on an estimated basis of 2.5%.

How can this lower than expected productivity be a positive for the currency as it's showing on the FF calendar?
because maybe 2.2% is a good figure no matter what the forecast
  • #106,336
  • Edited 10:14am Aug 9, 2008 9:32am | Edited 10:14am
cable chart for you IMO prolly wrong seems very weak

euro ame game

here is daily euro LT view seems sup and res are perfectly in order

in euro daily the break of either of those 2 blue angles which house ptice extremes on last chart are the key sup/res areas if either goes for extended periods its a long ways to the next above or below angles from the master LT set

The pivot of that master sqaure is 1.3702
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"Millionaires don't use astrology, billionaires do"
  • #106,337
  • Edited 2:29pm Aug 9, 2008 2:12pm | Edited 2:29pm
critical area at this moment. price is trapped between weekly and monthly 5sma. i assume it will attempt another break of weekly 5sma @ 213 area; IF not able to break it, then down again for monthly 5sma @ 210.60/80 area...
i put some critical landmarks on this h4 chart. hope it'll help you to trade safe next week - well at least your entry should be safe.
have a great weekend!

p.s. not necessarily in this order - weekly then monthly 5sma; it can go the other way. just focus on breakout.
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Nihil Sine Deo.
  • #106,338
  • Aug 10, 2008 2:40am Aug 10, 2008 2:40am
Quoting malcolmb14
lol Que ... you could go in 10 pip increments and say ' yeah hit my target ' lol ......
You did not read my post. It said Aiming for 212.00
Que
  • #106,339
  • Aug 10, 2008 2:44am Aug 10, 2008 2:44am
Hi,

Just to share something I noticed abt GU...
On the daily chart, we can see clearly that GU has been going down for 6 consecutive days... If you go to your GU daily chart to look, you will notice it is very rare for GU to go down for 6 days in a row... Thus I think there should be some retracement on next trading day...
This is further supported by bullish harami on the 4H chart...

I thot GJ just broke the daily TL but now if GU up, GJ most probably will up too... sigh... maybe i should not close my position when it hit bottom... inexperienced me...

Just a simple analysis... I'm here to learn, pls let me know if i overlook anything... Thanks...
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Lost...
  • #106,340
  • Aug 10, 2008 2:34pm Aug 10, 2008 2:34pm
Quoting worlhin
If you go to your GU daily chart to look, you will notice it is very rare for GU to go down for 6 days in a row...
True, but just be aware that the market doesn't care about probabilities. When I first started trading, I used to think, "ok, I'm gonna sell if the price goes up for 2 days in a row". When that didn't work, I tried 3 days, then 4 days.

I didn't reach the 5 day-in-a-row test because by then the equity was equal to zero.
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