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

  • #175,921
  • May 9, 2009 12:56pm May 9, 2009 12:56pm
Alright I got charts of the geppy, pounder, and gopher dailys and a weekly of geppy. There's an inside bar on the daily of geppy. I would not be surprised if it breaks up on Monday for another test of 151.50. This is very dangerous in my opinion because of that bearish pattern on the dollar yen daily. Geps ain't going too far without a bullish dollar yen imo.

I don't know what that move in the pound was all about yesterday, but now I am expecting it to stall around 153.50 to 154. That's where it tanked last time it got into that zone. I will be looking for bearish price action in this area.

If you look at the weekly chart of geps you'll see that the 34 ema (light blue line) is clearly keeping price in check.

At the end of the day, these bull moves are orchestrated by liquidity, which is pumped in by the Federal Reserve. Tons of treasury supply will be hitting the market soon, so you have to be nimble. Don't get sucked in by the bull story, because those crooks will pull the rug out when you least expect it. I hope this makes some sense . . . trade safe.
Attached Image(s) (click to enlarge)
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"Don't trade to trade . . . trade to win." - James16
  • #175,922
  • May 9, 2009 12:59pm May 9, 2009 12:59pm
Quoting malcolmb14
There is a lot of resistance at 1.5380 GU. daily symmetry Gj is 1500 up 1000 down. GJ should not move any higher than 153 before move down to 143, The completion of the GU cycle to 1.5380 may take gj to 153 . Then down from there
im sure i read you said you had opened a short just before yesterdays close?
  • #175,923
  • May 9, 2009 1:53pm May 9, 2009 1:53pm
Quoting donfriday
U are very funny and complet bear. i can see u are an older member here..i am still new but i have taking the first step ..so help me God..How is my lovely country Nija
fine bro..the old country is kicking it tight...same old story...how's accra,hav'nt been dre in 8mth now?
Imanuel Parsifal
  • #175,924
  • May 9, 2009 2:02pm May 9, 2009 2:02pm
Quoting sycho
fine bro..the old country is kicking it tight...same old story...how's accra,hav'nt been dre in 8mth now?
Accra is fine and still beautiful with our decipline odd goverment...we have light, water, fuel and security...How i wish nija will change and get better, i was born but move to Ghana yr 2000 but i visit nija 2007.
most of my forex trader friend i met online are from Nigeria but still none from Ghana, i am wondering if Ghana buys trade forex..
do u ave a friend in Ghana that is a trader?
MY OPINION NOT FINANCIAL ADVISE
  • #175,925
  • May 9, 2009 2:03pm May 9, 2009 2:03pm
Quoting rgitt05
You are right about GU cycle possibly topping out at the 1.5380 area and GJ following the PA..However, the overall trend is still bullish until the daily TL breaks..

For me 1000 pips is alot when you are trading with a big position..

Scalping is only making brokers richer when you buy many positions..

If I add up my time on this forum and analyzing my charts per week , I think I am doing very well.. I prefer swing trade over day trading..I have a life outside of forex..

IMHO, if the DJ continues the rally all this month, than I will hopefully...
bro.am also a long time trader..i took 1750pips from the last move to 139..inas much as i do that,i get some intra hrly/4hrly trade that comes in also...just look at your mthly/yrly chart and u will see clearly that's this lady has been om a 20yrs bearish run..also check my report at www.fumakgreatwall.com/pasil-strategy.html good luck...
Imanuel Parsifal
  • #175,926
  • May 9, 2009 2:49pm May 9, 2009 2:49pm
Quoting mima
Hey GodfreyH,

Thanks for indicators...I placed them as you said but JJRSX ( i did not tried others) doesn't open when I trid to place it in chart...? those:
JurXSeries.mqh
JJMASeries.mqh
PriceSeries.mqh

should be also in MetaTrader-Experts-Indicators or only here: MetaTrader-Experts-Include ?

Regards
The mqh files only go in the include folder. You'll need to restart metatrader. You may also have to change your options to "ALLOW DDL IMPORTS"
  • #175,927
  • May 9, 2009 2:57pm May 9, 2009 2:57pm
Quoting donfriday
Accra is fine and still beautiful with our decipline odd goverment...we have light, water, fuel and security...How i wish nija will change and get better, i was born but move to Ghana yr 2000 but i visit nija 2007.
most of my forex trader friend i met online are from Nigeria but still none from Ghana, i am wondering if Ghana buys trade forex..
do u ave a friend in Ghana that is a trader?
nope..they are not yet exposed to tht,may be if i have time sometime we might get them awared,may be..i usually make a stop there when ever i start my yearly tour,either at the beginnin or when coming back,i know abeke lapaz,circle,osu(house of ovation),laboni,labadie.t.c down to obuasi,tema,denu.aflao,kumasi,e.t.c i love the place..and all there kabab and pork meat(watch out for swine-flu),fufu and banku..ohh! bro 2many things 2 remember,i may drop by there next wk b/4 heading to paris..where do u stay n can you P.M. me ur number..will drop by sometime
Imanuel Parsifal
  • #175,928
  • May 9, 2009 3:13pm May 9, 2009 3:13pm
Quoting Sarandon
Hi Malcolm,

Quick observation - I was checking my daily charts and looking at the trends (and divergences) on RSX. I noticed that over the past two years the RSX has only been this high/overbought two other times: 1 - at the time we dropped from 141 to 118 and 2 - at the time we dropped from 240 - 230 and subsequently to 221.

Knowing that patterns repeat over and over in charting, do you think this could be a valid pattern (so to speak) as well?

Any comments or insight?

cheers
Although, I believe we are in an uptrend for Cable, apart from the daily cloud cover candlestick pattern, I had placed a short as the daily rsx had maxed out and turned red.

If you go back a couple years, it is very very rare that this has happened and price not fall seriously. But this could be the exception as they say that proves the rule. Remember that price can be going up and the RSX shows divergence, so maybe a test of the topside of the channel before any fireworks.
Attached Image (click to enlarge)
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  • #175,929
  • May 9, 2009 4:22pm May 9, 2009 4:22pm
Hi Godfrey..thanks for the indicators..I also am having trouble opening them from the navigation pane. I went to options and clicked on allow ddl imports..but it still wont't open...any suggestions?

Quoting GodfreyH
The mqh files only go in the include folder. You'll need to restart metatrader. You may also have to change your options to "ALLOW DDL IMPORTS"
  • #175,930
  • May 9, 2009 4:26pm May 9, 2009 4:26pm
Quoting GodfreyH
Although, I believe we are in an uptrend for Cable, apart from the daily cloud cover candlestick pattern, I had placed a short as the daily rsx had maxed out and turned red.

If you go back a couple years, it is very very rare that this has happened and price not fall seriously. But this could be the exception as they say that proves the rule. Remember that price can be going up and the RSX shows divergence, so maybe a test of the topside of the channel before any fireworks.
i believe it will fall,coz recession alone is enough to put all sentiment on the down side..let's see hw she goes on wednesday
Imanuel Parsifal
  • #175,931
  • May 9, 2009 4:30pm May 9, 2009 4:30pm
Quoting StarChild
Hi Godfrey..thanks for the indicators..I also am having trouble opening them from the navigation pane. I went to options and clicked on allow ddl imports..but it still wont't open...any suggestions?
try closing ur platform,and starting it again..
Imanuel Parsifal
  • #175,932
  • May 9, 2009 4:45pm May 9, 2009 4:45pm
open and closed multiple times...still wont't open the indicators

Quoting sycho
try closing ur platform,and starting it again..
  • #175,933
  • Edited 5:01pm May 9, 2009 4:46pm | Edited 5:01pm
cable daily view...
Attached Image (click to enlarge)
Click to Enlarge Name: gu_wk_5_09.gif Size: 83 KB
  • #175,934
  • May 9, 2009 5:20pm May 9, 2009 5:20pm
Quoting rgitt05
You are right about GU cycle possibly topping out at the 1.5380 area and GJ following the PA..However, the overall trend is still bullish until the daily TL breaks..

For me 1000 pips is alot when you are trading with a big position..

Scalping is only making brokers richer when you buy many positions..

If I add up my time on this forum and analyzing my charts per week , I think I am doing very well.. I prefer swing trade over day trading..I have a life outside of forex..

IMHO, if the DJ continues the rally all this month, than I will hopefully...
all i need is 200 pip per week GJ .. over leveraged sightly with 2.5% risk per trade. 200 pips with 2.5% risk gives me 10 % . Very do-able and I can focus on the very best set ups one pair
Blogging daily now at www.volume.zone
  • #175,935
  • May 9, 2009 5:21pm May 9, 2009 5:21pm
Quoting ewokuk
im sure i read you said you had opened a short just before yesterdays close?

I did on GU ... .the move up looked odd to me .
Blogging daily now at www.volume.zone
  • #175,936
  • May 9, 2009 7:32pm May 9, 2009 7:32pm
Hi,

Can anyone of you recommend me a good book or tutorial for money management. Thanks
  • #175,937
  • Edited 8:17pm May 9, 2009 7:57pm | Edited 8:17pm
G/J looks bullish for 200 pips more to me.. 152xx below152.50... then144.73-- 145.53.... Its forming an inverted head and shoulder..4 HOUR.

This will play out...IMO..like the other one did at 119xx..

Then from 145xx.. to 157xx ....... 700 pips down..1200 pips UP. (SYMETRY)

Profit taking after that .. Summer rally seems to be down.. Red October ..Rally UP... will post chart later. Chart pattern + RSI ( or any other indicator you use) are telling a story...... Things are setting up for Bearish DIVERSION.

This seems like a perfect set up... This way both Forex lion and Malcolmb will be happy...and RIGHT.

I do believe in VOLUME...but friday.. looks like Volume was manipulated too..(this aint a regulated market)
Markets are not Random, they are designed!
  • #175,938
  • Edited 9:29pm May 9, 2009 9:04pm | Edited 9:29pm
Quoting Raza
G/J looks bullish for 200 pips more to me.. 152xx below152.50... then144.73-- 145.53.... Its forming an inverted head and shoulder..4 HOUR.

This will play out...IMO..like the other one did at 119xx..

Then from 145xx.. to 157xx ....... 700 pips down..1200 pips UP. (SYMETRY)

Profit taking after that .. Summer rally seems to be down.. Red October ..Rally UP... will post chart later. Chart pattern + RSI ( or any other indicator you use) are telling a story...... Things are setting up for Bearish DIVERSION.

This seems like...

Chart for UP coming Days!! Comments or any other views are welcome...... Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hr elliot wave.jpg Size: 228 KB
Markets are not Random, they are designed!
  • #175,939
  • May 9, 2009 9:18pm May 9, 2009 9:18pm
Hey Andrew I can't send you back a PM.
  • #175,940
  • May 9, 2009 9:25pm May 9, 2009 9:25pm
Quoting StarChild
open and closed multiple times...still wont't open the indicators
Hmmm... I tested it on a computer that didn't have the indicators , just to verify that it would work.

Perhaps I should ask if anyone was able to open the indicators. I just need one person to verify that they got it to work, which would suggest the other persons with issues are based on local system problems.
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