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

  • #116,201
  • Sep 21, 2008 2:43pm Sep 21, 2008 2:43pm
I think this week is a buy dips week unless an extremely bearish bomb goes off and explodes and change the sentiment
  • #116,202
  • Sep 21, 2008 2:44pm Sep 21, 2008 2:44pm
Quoting rgitt05
Right now the price is 197.37..

http://www.tenfore.com/markets.asp?symbol=GBPJPYLITEx

I haven't been trading gbp/yen for a while, and I still don't intend to, lol, but here's my take.

I don't see any bearish divergence on the hr time frame and higher, however in the 4hr TF price is at the 70 rsi level, which usually precedes a retracement. RSI is also following the trendline below, if it breaks through this, then that would indicate strong buying pressure.

Price went to the exact 161.8 fib expansion and a bearish gartley pattern is now visible. Price tends to retrace from this fibo expansion, however if it breaks upwards the next stop will be the 200.0 fib expansion at approx 200.10. , this price is also the 50 % of the weekly down.
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  • #116,203
  • Sep 21, 2008 2:44pm Sep 21, 2008 2:44pm
Bear in mind also that there is major bullish divergence on the rsi on the weekly timeframe, so I believe the mid term trend may be bullish.
Attached Image (click to enlarge)
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  • #116,204
  • Sep 21, 2008 2:45pm Sep 21, 2008 2:45pm
on the 1 hr chart..It may break this 196.00 level or rebound to test the 197.00 again..

A break may fall to the 192.50 are which is the support level on the 1 hr chart..

A break above the 197.00 will continue toward the 200 level until the feds announce the plan..

Good Luck
Attached Image (click to enlarge)
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  • #116,205
  • Sep 21, 2008 2:47pm Sep 21, 2008 2:47pm


Quoting GodfreyH
I haven't been trading gbp/yen for a while, and I still don't intend to, lol, but here's my take.

I don't see any bearish divergence on the hr time frame and higher, however in the 4hr TF price is at the 70 rsi level, which usually precedes a retracement. RSI is also following the trendline below, if it breaks through this, then that would indicate strong buying pressure.

Price went to the exact 161.8 fib expansion and a bearish gartley pattern is now visible. Price tends to retrace from this fibo expansion, however if it breaks upwards the next stop will be the 200.0 fib expansion at approx 200.10. , this price is also the 50 % of the weekly down.
[
  • #116,206
  • Sep 21, 2008 2:52pm Sep 21, 2008 2:52pm
Yes Godfrey, excellent, I particularly enjoy your gartley pattern knowledge.

Quoting GodfreyH
I haven't been trading gbp/yen for a while, and I still don't intend to, lol, but here's my take.

I don't see any bearish divergence on the hr time frame and higher, however in the 4hr TF price is at the 70 rsi level, which usually precedes a retracement. RSI is also following the trendline below, if it breaks through this, then that would indicate strong buying pressure.

Price went to the exact 161.8 fib expansion and a bearish gartley pattern is now visible. Price tends to retrace from this fibo expansion, however if it breaks upwards the next stop will be the 200.0 fib expansion at approx 200.10. , this price is also the 50 % of the weekly down.
  • #116,207
  • Sep 21, 2008 2:56pm Sep 21, 2008 2:56pm
Quoting mktjong
I think this week is a buy dips week unless an extremely bearish bomb goes off and explodes and change the sentiment
But hourly macd is about to cross down, price last touched 4hr 200 ema (a strong resistance). We may see some retracement first before continuation uptrend.
  • #116,208
  • Sep 21, 2008 3:01pm Sep 21, 2008 3:01pm
Quoting TraderStar
Now its beginning to sound like jealousy, malcomb .. I begin to wonder how many pips you are actually making. In my experience the really successful traders are way beyond bragging about it.

If you keep bashing the methods of others, I see it is not only me, but everyone who dares to trade differently than you, then I'll just put you on ignore, which will be a shame since you occasionally do have some good insight to offer.

But try to play nicely with those who choose not to behave as your clones.
getting on my nerves...

stick it and stop creating unrest here since you discovered this thread. you have 1/6 of mal's experience, supposedly 1/200 of his acc and always a big mouth...

"putting everybody except karmo on ignore"
hell, what a bullshit...

good ol karmo is a decent trader but no need to do get a brown nose by assdiving. that's despicable...

come down and quit being that arrogant without a reason, i always puke on my notebook when reading arrogant posts...and this sucks

and now...give it to me...
  • #116,209
  • Sep 21, 2008 3:08pm Sep 21, 2008 3:08pm
You have an ignore button too.

malcomb is the arrogant one ... attacking eveyone who does not trade exactly as he does.
Karmo's analysis are steady & reasoned, I do not see him switching directions every other day. That is more my style, so that is why I listen to him. I also like Godfrey & rgitt. But I don't attack the ones I don't agree with.


Quoting Dr.Geppynius
getting on my nerves...

stick it and stop creating unrest here since you discovered this thread. you have 1/6 of mal's experience, supposedly 1/200 of his acc and always a big mouth...

"putting everybody except karmo on ignore"
hell, what a bullshit...

good ol karmo is a decent trader but no need to do get a brown nose by assdiving. that's despicable...

come down and quit being that arrogant without a reason, i always puke on my notebook when reading arrogant posts...and this sucks
  • #116,210
  • Sep 21, 2008 3:14pm Sep 21, 2008 3:14pm
Best thing is to ignore..I'm making pips no matter what others are saying on this board.. You make your own decision..I hope you are making pips..

I am a swing trader so I will have less changes on my long term bias..

However, short trades will have many bias if you are trading the lower TF..

This is a public forum so no one have control of this board except FF moderator..

Good Luck



Quoting Dr.Geppynius
getting on my nerves...

stick it and stop creating unrest here since you discovered this thread. you have 1/6 of mal's experience, supposedly 1/200 of his acc and always a big mouth...

"putting everybody except karmo on ignore"
hell, what a bullshit...

good ol karmo is a decent trader but no need to do get a brown nose by assdiving. that's despicable...

come down and quit being that arrogant without a reason, i always puke on my notebook when reading arrogant posts...and this sucks

and now...give it to me...
[
  • #116,211
  • Sep 21, 2008 3:33pm Sep 21, 2008 3:33pm
Whatever technique you use and cannot produce a consistent result is a dumb dumb trade. Just ask this question to yourself.. is it helping me in a consistent basis?
  • #116,212
  • Sep 21, 2008 4:16pm Sep 21, 2008 4:16pm
Quoting GodfreyH
Bear in mind also that there is major bullish divergence on the rsi on the weekly timeframe, so I believe the mid term trend may be bullish.
i'm having a tough time deciding myself.. i'm on the sidelines like you. better safe than sorry.. thanks for sharing the tech. a..
  • #116,213
  • Sep 21, 2008 4:22pm Sep 21, 2008 4:22pm
Quoting Trader Neal
i'm having a tough time deciding myself.. i'm on the sidelines like you. better safe than sorry.. thanks for sharing the tech. a..
I think that there is concern that there may be a bailout on the bailout.
The Only Constant Is Change!
  • #116,214
  • Sep 21, 2008 4:24pm Sep 21, 2008 4:24pm
the volume and its path I hope we do not get down
http://forexfactory.com/images/attach/gif.gif 21-09.gif (17.6 KB)
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aop
  • #116,215
  • Sep 21, 2008 4:50pm Sep 21, 2008 4:50pm
Quoting JazzmanQ2
I think that there is concern that there may be a bailout on the bailout.
anything goes in this darn market. i think this uncertainty could continue into 09' as they twist and change their stance from their bad decisions.
  • #116,216
  • Sep 21, 2008 4:53pm Sep 21, 2008 4:53pm
Quoting rgitt05
Best thing is to ignore..I'm making pips no matter what others are saying on this board.. You make your own decision..I hope you are making pips..

I am a swing trader so I will have less changes on my long term bias..

However, short trades will have many bias if you are trading the lower TF..

This is a public forum so no one have control of this board except FF moderator..

Good Luck

yeah i agree with you. i don't get involved in others arguments and if they attack me i just mentally ignore them. i think it's childish to argue back and forth. we can have different opinions even exact opposites without getting personal. needless to say i'll say no more unless it's a pertinent discussion but no one's on my ignore list. it just takes being a bigger man.
  • #116,217
  • Sep 21, 2008 4:58pm Sep 21, 2008 4:58pm
anyone care to take a look at au/jp it looks overextended to me.
  • #116,218
  • Sep 21, 2008 4:59pm Sep 21, 2008 4:59pm
uk/jp looks to be fading.. maybe not so strong as we thought.. tough call call call..
  • #116,219
  • Sep 21, 2008 5:04pm Sep 21, 2008 5:04pm
I expect macd to retrace down to zero line, it could be 23.6% - 50% retracement .. let's see.
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  • #116,220
  • Sep 21, 2008 5:04pm Sep 21, 2008 5:04pm
what is the closing for last week candle for EJ guys ?

i am just long @ 154.80 for gap refilling and i wanna make sure about the closing just incase i have wrong one

mine is 155.24
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