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

  • #112,741
  • Sep 12, 2008 7:02am Sep 12, 2008 7:02am
Quoting PJkiller
Don't know where you are in the world but we were on the same brain wave read your post and mine right before it..
great minds think alike
  • #112,742
  • Sep 12, 2008 7:05am Sep 12, 2008 7:05am
Well we bounced off the 1hr gann and closed right above the daily r1....

Now from here...back up to test the daily r2?
  • #112,743
  • Sep 12, 2008 7:15am Sep 12, 2008 7:15am
Quoting cancunkev
Well we bounced off the 1hr gann and closed right above the daily r1....

Now from here...back up to test the daily r2?
Since the 4H has crossed up and we're above the gann, I think it will retest and break daily r2/4h 50 ema. Next major resistance is daily gann, which currently at 192.34. IF we can close above that, then we have mid term bull trend to either the 38% fib or 50% fib on daily chart which is at 200.84. But daily gann is very strong, we could see reversal there. Lets see how price reaact once it gets there.
  • #112,744
  • Sep 12, 2008 7:16am Sep 12, 2008 7:16am
Quoting TraderStar
My 1h qqe has just crossed (if I have the correct settings) and candle is touching the gann .. so maybe soon...
What would encourage you to go long?
if we get a 15m QQE cross up with a candle close above the 15m gann hilo.
Trade what you see, not what you think.
  • #112,745
  • Sep 12, 2008 7:19am Sep 12, 2008 7:19am
Guys, I know a lot of you follow the news, so I wonder how the sentiments are before today's release which made me make this poll.

G/J; 4h TL need to be broken by at least 0.5% for more upside. If price test it and close 0.5% below, it would be a bearish signal which I'm most likely going to exclude since both indicators are forming divergence.

Notice the bullish divergence too, which would come (most likely) into play if TL is broken by the mentioned %.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 120 KB
Measure twice, cut once
  • #112,746
  • Sep 12, 2008 7:23am Sep 12, 2008 7:23am
Quoting karmostaji
if we get a 15m QQE cross up with a candle close above the 15m gann hilo.
So you use that qqe everywhere .. I would have thought the 15 min was too quick a tf for accuracy.... the gann in particular often jumps around like a demented grasshopped on the 1h.
  • #112,747
  • Sep 12, 2008 7:24am Sep 12, 2008 7:24am
Quoting $teve
Since the 4H has crossed up and we're above the gann, I think it will retest and break daily r2/4h 50 ema. Next major resistance is daily gann, which currently at 192.34. IF we can close above that, then we have mid term bull trend to either the 38% fib or 50% fib on daily chart which is at 200.84. But daily gann is very strong, we could see reversal there. Lets see how price reaact once it gets there.

the only thing that makes the daily h/l activator strong sup/res is the price action to the left of it. just happens to coincide with the weekly opening gap lo at 6pm est sunday.
Indicators are just psychological, real sup res is the hi lo ranges left before and after the fact. every move is very precise measurements of price and time in relationship to each and every other movement in history to some extent IMO. Complex cycles all working within each other. wheels within wheels
"Millionaires don't use astrology, billionaires do"
  • #112,748
  • Sep 12, 2008 7:49am Sep 12, 2008 7:49am
with the recent news (bad for usd) i entry Long in GbpJpy...
Letīs see what it happens...
''Art is making something out of nothing and selling it'' Frank Zappa
  • #112,749
  • Sep 12, 2008 7:52am Sep 12, 2008 7:52am
hi winners
hi losers
  • #112,750
  • Sep 12, 2008 8:05am Sep 12, 2008 8:05am
Quoting hussin naiji
hi winners
hi losers
Hi Hussin .. which one are you today??
  • #112,751
  • Sep 12, 2008 8:22am Sep 12, 2008 8:22am
Quoting vifer
with the recent news (bad for usd) i entry Long in GbpJpy...
Letīs see what it happens...
guys i'm short biased again. Just got a crossover on my H1 stochastics indicator just above the decision 80 point.
Haven't yet taken a position. Just a bias now until i'm more confident of the setup.
  • #112,752
  • Sep 12, 2008 8:29am Sep 12, 2008 8:29am
will not go above here it is just gu that keep push gj up
it is already reversed in ej and uj and some red candle in gj hour chart
i m short 189.99
  • #112,753
  • Sep 12, 2008 8:31am Sep 12, 2008 8:31am
Quick drop on the opening of the dow....

I still see this retesting the highs before the day is out....
  • #112,754
  • Sep 12, 2008 8:35am Sep 12, 2008 8:35am
Quoting xoiper
will not go above here it is just gu that keep push gj up
it is already reversed in ej and uj and some red candle in gj hour chart
i m short 189.99

u will be seeing cable around the 2.0 level pretty soon

weekly cable bar lookin pretty reversal bar to me atm
not to mention its the 13th weekly close below the last one leaving this weeks close a positive candle. with any luck we build a beautiful MORNING STAR next week and OH BOY
"Millionaires don't use astrology, billionaires do"
  • #112,755
  • Sep 12, 2008 8:36am Sep 12, 2008 8:36am
I TRY NOT TO POST TOO MUCH - BUT I AM COMPELLED TO - AND THIS IS FOR PEOPLE WHO ARE CONFUSED WITH THE DIRECTION - JUST LIKE 99% OF OTHER TRADERS

- The markets are extremely volatile and directionless - all are looking at Lehman solution. Going by recent market moves - if a solution for Lehman is reached - the stock markets will cheer it - whatever the solution be - and GBP/JPY will rise - just like all ?/JPY crosses.

If i were to take a position now - i would definitely close my trades before going into the weekend

- as most likely the Lehman announcements will come after market close. They want Lehman stocks to plummet further so they can sell even cheaper and the only way of doing it is create uncertainty till the last moment. If that happens, Monday open we will see yet another gap and short JPY positions will get a beating.

- If there is no solution to Lehman over the weekend (highly unlikely) - come back Monday and short GBP/JPY

Today is the Friday most of us small traders should just close and leave - if any of us are addicted to trading - maybe open a mini lot for the kick.

Price actions like today are very unforgiving and there is no point looking at technicals or charts - its not about charts or indicators today.
  • #112,756
  • Sep 12, 2008 8:46am Sep 12, 2008 8:46am
Quoting gmohata
I TRY NOT TO POST TOO MUCH - BUT I AM COMPELLED TO - AND THIS IS FOR PEOPLE WHO ARE CONFUSED WITH THE DIRECTION - JUST LIKE 99% OF OTHER TRADERS

- The markets are extremely volatile and directionless - all are looking at Lehman solution. Going by recent market moves - if a solution for Lehman is reached - the stock markets will cheer it - whatever the solution be - and GBP/JPY will rise - just like all ?/JPY crosses.

If i were to take a position now - i would definitely close my trades before going into the weekend

- as most likely the Lehman announcements will come after market close. They want Lehman stocks to plummet further so they can sell even cheaper and the only way of doing it is create uncertainty till the last moment. If that happens, Monday open we will see yet another gap and short JPY positions will get a beating.

- If there is no solution to Lehman over the weekend (highly unlikely) - come back Monday and short GBP/JPY

Today is the Friday most of us small traders should just close and leave - if any of us are addicted to trading - maybe open a mini lot for the kick.

Price actions like today are very unforgiving and there is no point looking at technicals or charts - its not about charts or indicators today.
What! Not to discount fundamentals, but fundamentals eventually show up as price / volume movements on charts.

Every move today could be reasonably easily determined by looking on your charts. Retraces to fib levels and from MA's were almost easy to identify.
  • #112,757
  • Sep 12, 2008 8:54am Sep 12, 2008 8:54am
Quoting GodfreyH
What! Not to discount fundamentals, but fundamentals eventually show up as price / volume movements on charts.

Every move today could be reasonably easily determined by looking on your charts. Retraces to fib levels and from MA's were almost easy to identify.
yes eventually - but by the time "eventually" arrives - most traders would have blown their accounts.

i agree with fibs, ta's etc etc - matter of fact if you look at my posts - when GBP/JPY was at 204 - i had called 188 and taken a trade.

today is different - LEH dictates, not fundamentals, not technicals. Had LEH been sorted yesterday - dollar would have rallied today inspite of bad retail numbers - we have seen it happen in the last 8 weeks.

my message was only to traders wanting to get in now or leave positions open over the weekend or who are completely clueless where is the beast heading.
  • #112,758
  • Sep 12, 2008 8:55am Sep 12, 2008 8:55am
Dow under pressure today.
I wonder when the stock market will finally turn.
That would be a good sign that we are heading upwards.
  • #112,759
  • Sep 12, 2008 9:01am Sep 12, 2008 9:01am
Quoting Dealgone
Dow under pressure today.
I wonder when the stock market will finally turn.
That would be a good sign that we are heading upwards.

errr???? dow under pressure means it'll head up?
  • #112,760
  • Sep 12, 2008 9:03am Sep 12, 2008 9:03am
Quoting gmohata
I TRY NOT TO POST TOO MUCH - BUT I AM COMPELLED TO - AND THIS IS FOR PEOPLE WHO ARE CONFUSED WITH THE DIRECTION - JUST LIKE 99% OF OTHER TRADERS
.....

Price actions like today are very unforgiving and there is no point looking at technicals or charts - its not about charts or indicators today.
Why so serious,
we're back to the Chot pattern


I agree that any move right now is uncertain. Still holding my longs though, at least by the end of the day.
"Everybody needs money. That's why they call it money" - Danny De Vito
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