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

  • #184,241
  • Jul 10, 2009 4:04am Jul 10, 2009 4:04am
Quoting Macedonia
Let me show you guys something. On the daily chart below, we smashed thrugh a rising trend line (white line)two days ago. yesturday, it retraced right up to it but did not close back over. curntly early europe sesion, it looks bearish.

some people recently have spoken about going to 170 evan 190. now today being friday last day of the week, if we close below that blue line that indicates weekly gan at 150.43 which is very possible, i would not like to have any longs put it that way.

Yep, looking at the same trendline.

The nature of the fall 2 days ago leads me to believe that we will at least revisit <148 sometime soon. ES dropped overnight again and right now a mini battle taking place at 151, so let's see how it plays out.

I'm short, but not loving this PA.

EDIT: Just seen on Bloomies BNP Paribas has a price target for EY of 126 by end of July. This would equate GY to below 146.
  • #184,242
  • Jul 10, 2009 4:05am Jul 10, 2009 4:05am
I guess that that there will be a limited upside now to 152 area to test resistance, as we didn't have any 4hrs close below the DP
  • #184,243
  • Jul 10, 2009 4:10am Jul 10, 2009 4:10am
Quoting pino2
I guess that that there will be a limited upside now to 152 area to test resistance, as we didn't have any 4hrs close below the DP
What about the next 4hr bar?
  • #184,244
  • Jul 10, 2009 4:11am Jul 10, 2009 4:11am
Quoting pino2
I guess that that there will be a limited upside now to 152 area to test resistance, as we didn't have any 4hrs close below the DP

bear mate check ..still short anyway.
MY OPINION NOT FINANCIAL ADVISE
  • #184,245
  • Jul 10, 2009 4:21am Jul 10, 2009 4:21am
Quoting donfriday
bear mate check ..still short anyway.
I might be wrong, although I closed my short from 152 area
  • #184,246
  • Jul 10, 2009 4:47am Jul 10, 2009 4:47am
FOOD FOR THOUGHT..

Daily also have Bullish Divergence..
Attached Image (click to enlarge)
Click to Enlarge Name: FOOD FOR THOUGHT.jpg Size: 146 KB
Markets are not Random, they are designed!
  • #184,247
  • Jul 10, 2009 4:58am Jul 10, 2009 4:58am
Quoting Raza
FOOD FOR THOUGHT..

Daily also have Bullish Divergence..
What about this hidden bearish divergence ...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 14 KB
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  • #184,248
  • Jul 10, 2009 5:00am Jul 10, 2009 5:00am
Quoting Powerm@n
What about this hidden bearish divergence ...
I think 4hr divergence looks more likely to play out than the Daily, especially with the bearish divergence on the Weekly.

We'll see....
  • #184,249
  • Jul 10, 2009 5:02am Jul 10, 2009 5:02am
Quoting Raza
FOOD FOR THOUGHT..

Daily also have Bullish Divergence..

no divergence yet mate try awesome oscillator or macd they give perfect divergence IMO

daily is biulding up divergence but 4hrs now yet we can still test 149 or 148.
MY OPINION NOT FINANCIAL ADVISE
  • #184,250
  • Jul 10, 2009 5:07am Jul 10, 2009 5:07am
Quoting Raza
FOOD FOR THOUGHT..

Daily also have Bullish Divergence..
No divergance there mate. If you draw lines from point A to point B on your candles, you must draw from the same points on your rsi or rsx what ever you use. you don't draw lines (on your oscillater) from point A to 10 days a go. it has to be extactly under the point B that you drew on the candles.
  • #184,251
  • Jul 10, 2009 5:11am Jul 10, 2009 5:11am
Quoting donfriday
no divergence yet mate try awesome oscillator or macd they give perfect divergence IMO

daily is biulding up divergence but 4hrs now yet we can still test 149 or 148.

Mate i play divergence just like you do but this is what i found.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot Studio capture #74.png Size: 46 KB
MY OPINION NOT FINANCIAL ADVISE
  • #184,252
  • Jul 10, 2009 5:15am Jul 10, 2009 5:15am
Quoting Macedonia
No divergance there mate. If you draw lines from point A to point B on your candles, you must draw from the same points on your rsi or rsx what ever you use. you don't draw lines (on your oscillater) from point A to 10 days a go. it has to be extactly under the point B that you drew on the candles.

Hmm i like it that we have more divergence traders here..
well i dont like to use rsi for divergence ..macd and oscillator are perfect for it so that is what i learn from my method and it cool...
maybe raza see it different so let see how it go ..
good sharing moment..
Thank God is Friday.
MY OPINION NOT FINANCIAL ADVISE
  • #184,253
  • Jul 10, 2009 5:25am Jul 10, 2009 5:25am
I wonder if you could develop a scalping system around the first 4hr gann bounce.

it better bounce
  • #184,254
  • Jul 10, 2009 5:26am Jul 10, 2009 5:26am
Quoting donfriday
no divergence yet mate try awesome oscillator or macd they give perfect divergence IMO

daily is biulding up divergence but 4hrs now yet we can still test 149 or 148.
To be fair, there is some bullish hidden divergence forming on the Daily, but as long as price is falling, it's validation has to be questioned.
Chart...
Attached Image (click to enlarge)
Click to Enlarge Name: daily diverg.gif Size: 20 KB


Also worth noting that CCI looks set to cross from oversold. (-200).
  • #184,255
  • Jul 10, 2009 5:28am Jul 10, 2009 5:28am
Quoting donfriday
Hmm i like it that we have more divergence traders here..
well i dont like to use rsi for divergence ..macd and oscillator are perfect for it so that is what i learn from my method and it cool...
maybe raza see it different so let see how it go ..
good sharing moment..
Thank God is Friday.
I know what divergance is but don't use it much. But its important people understand it and don't panic when they hear it on this thread. The end of the day, price must bounce off a crucial area to turn. To many times i've seen divergance after divergance but does not play out till we hit critical areas. its a good heads up, but thats all it is and especialy on daily's, this can move another 1000 pips before it plays out. Have a good weekend everyone.
  • #184,256
  • Jul 10, 2009 5:32am Jul 10, 2009 5:32am
Quoting ukdaytrader
To be fair, there is some bullish hidden divergence forming on the Daily, but as long as price is falling, it's validation has to be questioned.
Chart...
Attachment

Also worth noting that CCI looks set to cross from oversold. (-200).
One last thing, yes i can see it on your chart UK but not on razz. But in saying this, i stick to my upper post explanation re daily. And agree with your falling could question the validation. and there is a good chance especialy if we close below weekly Gann. we will see monday. cheers

PS GO AUSSIES BRING HOME THE ASH'S
  • #184,257
  • Jul 10, 2009 5:37am Jul 10, 2009 5:37am
i repeat my chart again with bigger scope
neckline retest
first target is 14270 261.8% fibo extension of wave 2(shoulder) which is aligned with previous 161.8% fibo ext of wave 2 made in february(red fibo)

see chart
Attached Image
  • #184,258
  • Jul 10, 2009 5:38am Jul 10, 2009 5:38am
Quoting Macedonia
I know what divergance is but don't use it much. But its important people understand it and don't panic when they hear it on this thread. The end of the day, price must bounce off a crucial area to turn. To many times i've seen divergance after divergance but does not play out till we hit critical areas. its a good heads up, but thats all it is and especialy on daily's, this can move another 1000 pips before it plays out. Have a good weekend everyone.
not just a divergence but Awesome oscillator must accept that divergence...it depend on the tf u are trading with but it's very important to identify the bar and the chance of awesome oscillator color..i have post the book here before so those who want to learn it can check the book..
me not master still newbie ..
Thank God is Friday.
MY OPINION NOT FINANCIAL ADVISE
  • #184,259
  • Jul 10, 2009 5:42am Jul 10, 2009 5:42am
On the other hand it is very over sold on Daily ... So let see
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 20 KB
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  • #184,260
  • Jul 10, 2009 5:46am Jul 10, 2009 5:46am
Quoting ukdaytrader
To be fair, there is some bullish hidden divergence forming on the Daily, but as long as price is falling, it's validation has to be questioned.
Chart...
Attachment

Also worth noting that CCI looks set to cross from oversold. (-200).
i said same thing daily biulding up a divergence and i post my weekly chart before about the fractal i am expecting ...i think u use fractal too right?..
we should not go more than 148 today if that daily divergence will play out but weekly is stronger and last day of the week ..
when AO change color the divergence is confirmed but it base on the tf we are trading on..
Thank God is Friday
MY OPINION NOT FINANCIAL ADVISE
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