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

  • #164,721
  • Mar 9, 2009 4:50pm Mar 9, 2009 4:50pm
Quoting malcolmb14
take a look guys at 4 hour ... you tell me what you see.....time to think for yourselves . I know what is there and if it breaks it is not a buy
Looks like 2 head and shoulders side by side and the first 1 has two heads.
  • #164,722
  • Mar 9, 2009 4:51pm Mar 9, 2009 4:51pm
I'm looking at the Daily Chart with a 55EMA and it looks like it has just bounced off the 55EMA.

My other analysis on this pair that I may think that it is back as a BUY.. Is the Overall Trend has been a Bull since mid Jan, and this has now dipped below the mid Bollinger line.

I'm lining up a trade as follows

Entry 13600
Stop 13492
Limit 14072

Could I please have some feedback on this potential trade as I am inexperienced in forex trading and your help would be much appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_JPY (09-MAR-09).png Size: 19 KB
_______________ Say Good-bye to Buy-and-Hold
  • #164,723
  • Mar 9, 2009 5:02pm Mar 9, 2009 5:02pm
The price currently below every significant Gann Hilo-4hr, daily! It is very bearish. But what holds it right now is the daily 50 ema and if it is broken to the downside, it will go down fast. Looking at the u/j, it found big resistance at the weekly 50 ema and obviously there is not enough momentum to break it. So, imho buying is only for a small retracement.
  • #164,724
  • Mar 9, 2009 5:04pm Mar 9, 2009 5:04pm
Quoting deltaworld
I'm looking at the Daily Chart with a 55EMA and it looks like it has just bounced off the 55EMA.

My other analysis on this pair that I may think that it is back as a BUY.. Is the Overall Trend has been a Bull since mid Jan, and this has now dipped below the mid Bollinger line.

I'm lining up a trade as follows

Entry 13600
Stop 13492
Limit 14072

Could I please have some feedback on this potential trade as I am inexperienced in forex trading and your help would be much appreciated.
you're looking for a 47 pip scalp using a daily chart? go to your 5/15 Min charts and see whether or not that is a good trade. Moreover, i don't understand the y axis on your charts. what are those "13000-14000" numbers?
  • #164,725
  • Mar 9, 2009 5:06pm Mar 9, 2009 5:06pm
Quoting Eulogy
you're looking for a 47 pip scalp using a daily chart? go to your 5/15 Min charts and see whether or not that is a good trade. Moreover, i don't understand the y axis on your charts. what are those "13000-14000" numbers?
Sorry, I may be wrong but I think he means 136.00 to 140.72...so a 472 pip trade....
  • #164,726
  • Mar 9, 2009 5:14pm Mar 9, 2009 5:14pm
Quoting hadleyma
Sorry, I may be wrong but I think he means 136.00 to 140.72...so a 472 pip trade....
LOL sry. yep just took another look, my bad. shows my inattention this morning. trying to work in the office while squeezing a few secs here and there to view this thread.

one thing i would like to point out though is that he is essentially using a 20 day SMA as his reversal point. Not too sure if there is any significance with this SMA. usually Bollingers users react when PA takes it past the outside 2 standard deviations. Another thing to note, all the other indicators he's using (PSAR, MACD, Stoch) are bearish, especially MACD and Stoch which in addition also have a multiweek bearish divergence.
  • #164,727
  • Mar 9, 2009 5:19pm Mar 9, 2009 5:19pm
Quoting deltaworld
I'm looking at the Daily Chart with a 55EMA and it looks like it has just bounced off the 55EMA.

My other analysis on this pair that I may think that it is back as a BUY.. Is the Overall Trend has been a Bull since mid Jan, and this has now dipped below the mid Bollinger line.

I'm lining up a trade as follows

Entry 13600
Stop 13492
Limit 14072

Could I please have some feedback on this potential trade as I am inexperienced in forex trading and your help would be much appreciated.

I do not think we are done yet ......I think that we will see a test at least of 135 .... do not worry so much about moving averages , as whole numbers. Even if we do not get that low i thin a test of 135.5 is in order. We have to see the volume moving into that zone .. we could just break it.
Blogging daily now at www.volume.zone
  • #164,728
  • Mar 9, 2009 5:34pm Mar 9, 2009 5:34pm
Thanks for the feedback guys.. I'm only going to demo this trade and see what happens.. But do you reckon it will bounce off the 135-135.5 or could it hit the lows of January to the 121 area?

I'm not sure which way this pair is going
_______________ Say Good-bye to Buy-and-Hold
  • #164,729
  • Mar 9, 2009 5:36pm Mar 9, 2009 5:36pm
I see a short from 137.00 Pivot Level, to an area of about 130.50
  • #164,730
  • Mar 9, 2009 5:38pm Mar 9, 2009 5:38pm
Hey Malcomb, whats VSA saying about this latest spike?
  • #164,731
  • Mar 9, 2009 5:39pm Mar 9, 2009 5:39pm
Quoting deltaworld
Thanks for the feedback guys.. I'm only going to demo this trade and see what happens.. But do you reckon it will bounce off the 135-135.5 or could it hit the lows of January to the 121 area?

I'm not sure which way this pair is going
Maybe this will help u. . .
It will take some patience butttttttttt -
Attached Image (click to enlarge)
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  • #164,732
  • Mar 9, 2009 5:41pm Mar 9, 2009 5:41pm
i like to share with you all my chart setting, just pick any fibo level as tp,
( hopefully not fibo 100...)

http://usera.ImageCave.com/ammal07/gbpjpy/gjh11003.gif
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #164,733
  • Mar 9, 2009 5:43pm Mar 9, 2009 5:43pm
Quoting Nauth
I see a short from 137.00 Pivot Level, to an area of about 130.50
might be a good shorting idea but watch out for the spike up to perhaps 137.50/60 area esp. if UJ regains 99 figure - its resistance does not come in until 99.40 area which could help push gj up. . .
  • #164,734
  • Mar 9, 2009 5:48pm Mar 9, 2009 5:48pm
Quoting quecee5
might be a good shorting idea but watch out for the spike up to perhaps 137.50/60 area esp. if UJ regains 99 figure - its resistance does not come in until 99.40 area which could help push gj up. . .
I think your right about that and your chart shows an upward thrust to about 137.50 form there might be a good short if it continues it's trend downward. P.S in your MACD what is that white and blue line, and how did you get it in that chart?
  • #164,735
  • Mar 9, 2009 5:50pm Mar 9, 2009 5:50pm
Quoting malcolmb14
I do not think we are done yet ......I think that we will see a test at least of 135 .... do not worry so much about moving averages , as whole numbers. Even if we do not get that low i thin a test of 135.5 is in order. We have to see the volume moving into that zone .. we could just break it.
Are you saying its moving down from here before it tests the 138.xx mark. Because i was scalping successfully between 136.10 and 136.70 and to me the full stochastic has a up trend bias now that the yen is over bought and the pound over sold.
When nothing goes right... go left.
  • #164,736
  • Mar 9, 2009 5:53pm Mar 9, 2009 5:53pm
Quoting Nauth
I think your right about that and your chart shows an upward thrust to about 137.50 form there might be a good short if it continues it's trend downward. P.S in your MACD what is that white and blue line, and how did you get it in that chart?
macd just histogram and signal lines nothing special - similar to gann/5sma cross method. . . all it's showing is divergence and OS/OB levels. . .nothing more nothing less. u can find it in the attachment on this thread. it's called macdgoodone
  • #164,737
  • Mar 9, 2009 5:57pm Mar 9, 2009 5:57pm
Quoting mtajazz
Are you saying its moving down from here before it tests the 138.xx mark. Because i was scalping successfully between 136.10 and 136.70 and to me the full stochastic has a up trend bias now that the yen is over bought and the pound over sold.

gj has been getting marked up during asia only to be slammed in the London session ....

I am a day trader and have also been trading the 136 to 137 range all day .... I mentioned the range earleir ...

I do not think that the sellers on GU will really care what the indicators say ... may be Asia is just enough to get sellers ointerested in GU once more

GU 15 min says to me consolidation ... liekly before nextr leg down ....
Blogging daily now at www.volume.zone
  • #164,738
  • Mar 9, 2009 5:57pm Mar 9, 2009 5:57pm
200ema on the 15min TF is a easy setup for 100 pips..

Attached Image (click to enlarge)
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  • #164,739
  • Mar 9, 2009 5:57pm Mar 9, 2009 5:57pm
here is a 30 min chart with resistance just above. . . would wait to see if it takes it out before or fails up there b/4 thinkn about shorting. . .
Attached Image (click to enlarge)
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  • #164,740
  • Mar 9, 2009 6:03pm Mar 9, 2009 6:03pm
Quoting malcolmb14
gj has been getting marked up during asia only to be slammed in the London session ....

I am a day trader and have also been trading the 136 to 137 range all day .... I mentioned the range earleir ...

I do not think that the sellers on GU will really care what the indicators say ... may be Asia is just enough to get sellers ointerested in GU once more

GU 15 min says to me consolidation ... liekly before nextr leg down ....
Malcom,

I agree with u on this one. . . daily chart has been bearish since last week and macd has fallen below the zero line so a big drop is in works sooner rather than later a stated last week. . . just need the 50 ema to be breached and down it goes to 133 and 129. . .
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 30 KB
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