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

  • #162,401
  • Feb 25, 2009 9:56pm Feb 25, 2009 9:56pm
Quoting arezab
I'm really sick of this UJ Bullsh!t ... never seen such a thing with this pair. why the heck this thing doesn't want to retrace at all??

It's really annoying. It's seems like up move of EU in early Jan 08 which recovered nearly half of it's 100 days lasting drop in only 15 days.
I think I have the perfect explanation. When the report about Japan's GDP came out last month, it was horrendous. I think it was about -12%. The yen has been a safe haven for investors but ever since the GDP report, investors have been moving away from the yen and seek the dollars as safe haven. When there's massive yen selling and dollar buying, we get what we've been witnessing this week from UJ. That's the fundamental. The technical side of UJ showed a breakout as well after last week's close. I've mentioned this in a previous post.
  • #162,402
  • Feb 25, 2009 9:58pm Feb 25, 2009 9:58pm
Quoting bpatto
Yer pretty crazy. If you see a red candle on H4, just buy when the next one opens.........
I agree but stops must be tight. Normally when this kind of moves starts to drop, it will be as sharp as a blitz.
Discipline + Patience - Fear - Greed = Success
  • #162,403
  • Feb 25, 2009 10:10pm Feb 25, 2009 10:10pm
Quoting Eulogy
As long as the US keeps jawboning and/or offering/creating new stimulus/spending/pork packages day after day it seems the USD will remain strong. The one thing that has me worried is what will happen when they stop. Obama's interventionalist steps certainly have been alot more aggressive than in the Bush administration however, he's also spent far in excess and in less time, than Bush ever did, and yet he pledges to bring the deficit down. At the rate he's going i'll be surprised if he doesn't blow out the deficit even more.
You mean this is the effect of propaganda? I think it has big influence on this but I don't think solely advertising could drive this thing. Obviously there is something else behind this. I was thinking of 97 as a tough historical resistance level but we see it breached that level with ease and now we are at 98.00

I think they are trying to beat the technicals ... when tech guys give up and fell into trap of fundies those big guys will make it crash ... the same thing happened for Oil traders last year when every propaganda was just admitting price will continue to rise up to $200 ... then what happened ??

So I'm careful with UJ longs at these levels ... so don't forget tight stops my friends
Discipline + Patience - Fear - Greed = Success
  • #162,404
  • Feb 25, 2009 10:33pm Feb 25, 2009 10:33pm
Quoting sometospend
where can i download the rsx
'

the one I use is jurik rsx ...have to pay for license and esignal ... have to pay for charting software ...

I think there is one for mt4 .. but not as good as the one for esignal IMHO as it does not have the signal line

to tell you truth 80% of my trading is instinct based on price action . I have no set rules or system.

for example was getting ready for a flight this morning .. saw gu charts for about 5 min and placed sell .... for no other reason than price action , draw down was less than 20 pip foir a 200 pip trade
Blogging daily now at www.volume.zone
  • #162,405
  • Feb 25, 2009 10:36pm Feb 25, 2009 10:36pm
Quoting arezab
You mean this is the effect of propaganda? I think it has big influence on this but I don't think solely advertising could drive this thing. Obviously there is something else behind this. I was thinking of 97 as a tough historical resistance level but we see it breached that level with ease and now we are at 98.00

I think they are trying to beat the technicals ... when tech guys give up and fell into trap of fundies those big guys will make it crash ... the same thing happened for Oil traders last year when every propaganda was just admitting...
no i didn't mean that the jawboning is the only factor with this UJ movement. Ths UJ was due for a retracement anyway when it built up that level under 90. The upmove however has been exaggerated with the continuous talk and announcements of bailout after stimulus after spending bill after bailout after loan facility after increased governmental stakes after Obama oratory exercise..........
  • #162,406
  • Feb 25, 2009 10:40pm Feb 25, 2009 10:40pm
Quoting pkimnyc
bear flag?

price is under 4 hr gann.
good trading guys.

could be and right now I would use daily pivot at 139.30 as my hinge

4 hour pulled back to the 14 wma ... been forming support in the uptrend. I would like to see a bit more of a convincing close under this to mark downward bear trend.

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #162,407
  • Feb 25, 2009 11:03pm Feb 25, 2009 11:03pm
So Malcomb, you think that if we get a close below 139.3, we be going down?
Looks like we just hovering above the daily pivot 139.27.

What would your confimation or indication that we would be testing yesterdays highs 141.xx?

I'm tempted to go long off the daily pivot......
  • #162,408
  • Feb 25, 2009 11:06pm Feb 25, 2009 11:06pm
Malcolm --> (eSignal)

Piters --> (Ensign)

Is there a way to measure the +ve/-ve sloping angle of a Moving Average Line on eSignal / Ensign , based on a constant zoom view of the chart ?
CCI decipherer
  • #162,409
  • Feb 25, 2009 11:07pm Feb 25, 2009 11:07pm
reports coming out of a AIG bankruptcy and restructuring plan with a possible template for Citigroup if needed.
  • #162,410
  • Feb 25, 2009 11:13pm Feb 25, 2009 11:13pm
Quoting sogt725
Malcolm --> (eSignal)

Piters --> (Ensign)

Is there a way to measure the +ve/-ve sloping angle of a Moving Average Line on eSignal / Ensign , based on a constant zoom view of the chart ?
Possible, but has to be coded...additionaly

my CCI setup Chart:
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  • #162,411
  • Feb 25, 2009 11:58pm Feb 25, 2009 11:58pm
Today's action bias, and the link to it:

http://www.actionforex.com/technical...-200603225796/
Attached Image
  • #162,412
  • Feb 26, 2009 12:01am Feb 26, 2009 12:01am
Today's daily pivots, and the link:

http://www.actionforex.com/technical...-200603205734/
Attached Image
  • #162,413
  • Feb 26, 2009 12:23am Feb 26, 2009 12:23am
Malcolmb - If you're interested in getting a quicker QQE signal, try changing the dashed line (the one you call the signal line) from "slow" to "fast". Using yesterday's 1 hour chart as an example, the QQE crossed down one hourly candle earlier using "fast". Price was at 140.57 then instead of 140.20. It effectively caught the downturn earlier, just as the first candle closed below the 100 pip channel.

The downside is that you're getting into untested territory here. Piters uses it on lower timeframe charts, but I don't know anyone who uses them on 1H or higher. It could turn out that there are more false signals this way. But then again . . .

  • #162,414
  • Feb 26, 2009 12:34am Feb 26, 2009 12:34am
My personal G/J bias for today is down. Price is below the 4H Gann and also below the daily pivot.
  • #162,415
  • Feb 26, 2009 12:35am Feb 26, 2009 12:35am
Quoting Pips_Cruiser
My personal G/J bias for today is down. Price is below the 4H Gann and also below the daily pivot.
Once it gets below 1h Gann, it's party time
Trade what you see, not what you think.
  • #162,416
  • Feb 26, 2009 12:40am Feb 26, 2009 12:40am
I know you are all serious traders, but I feel compelled to perform this silliness and ask ...... DRUM ROLLS...............MORE DRUM ROLL.............................
"Hi I have downloaded Internet now tell me where Can I download FOREX?"
  • #162,417
  • Feb 26, 2009 12:44am Feb 26, 2009 12:44am
Looks like PA is right at the lower TL for the Bear Flag.

B.
  • #162,418
  • Feb 26, 2009 12:56am Feb 26, 2009 12:56am
Quoting karmostaji
Once it gets below 1h Gann, it's party time
Hi Karmo....i'm still stuck on VTTrader...so can't play with all these great toys yet.

Is there a price range associated with what you are referring to?
--post hoc ergo propter hoc--
  • #162,419
  • Feb 26, 2009 1:08am Feb 26, 2009 1:08am
Quoting Monk
Hi Karmo....i'm still stuck on VTTrader...so can't play with all these great toys yet.

Is there a price range associated with what you are referring to?
Is there any reason you can't use MT4? Gann and QQE won't cost you a penny.
  • #162,420
  • Feb 26, 2009 1:12am Feb 26, 2009 1:12am
While playing around with the Gann line, I noticed something quite interesting. Simply have it placed with standard 10 settings on a 1 hour chart and add an 8 ema. Whenever the Gann is below the ema, are prices moving up. When above, prices are moving down.
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