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

  • #215,441
  • Feb 12, 2010 5:36am Feb 12, 2010 5:36am
Quoting Myrza
I still believe long is still valid unless a H4 fractal is broken convincingly. We still havent made a lower low on h4 or h1.
I am staying in sideline still..might go long again
This might come into play
Attached Image (click to enlarge)
Click to Enlarge Name: gj today2.jpg Size: 91 KB
  • #215,442
  • Feb 12, 2010 5:46am Feb 12, 2010 5:46am
Quoting ewokuk
it had absolutely nothing to do with technicals, next major resistance was at 143. plus technicals do not cause drops like that......plus the drops happened on ALL pairs not one, so technicals had nothing to do with it
Not great UK news at 10:00am either.
Whatever it was, it looks like an excuse to slap the Yen pairs back down. Strong selling volume keeping a lid on any retracement.
  • #215,443
  • Feb 12, 2010 5:47am Feb 12, 2010 5:47am
the beast is tempting.no valid direction yet.
  • #215,444
  • Feb 12, 2010 5:47am Feb 12, 2010 5:47am
<Partial rambling mode on> Based on all the raisons-du-jour that are contrived these days, I can't believe that trading FX was ever any harder than it is today, bear or bull market. What China's reserve rate and them tightening the amount of money in the system, thus cooling their economy, and that being a negative for EUR/GBP/USD (in the face of permanent trade imbalances) and yet positive for Japan (who's yen BTW could be said was tumbling before the announcement), really doesn't wash with me. <rambling mode off> Bottom line, we need to be happy with the pips we're able to snag.

Also note the UJ fell 65 pips, while GBP hitched it's star to UJ and the EUR, and tumbled 180 pips. Implies significant weakness to me. BUT, did stop @ 139.78, and appears to be retracing nicely. We're now at the mercy of the US core/retail sales - if they're bad, rest assured there will be Friday tankage.

EDIT: Also noting ... 90 min after bottoming, UJ has retrace more than 2/3's, while GJ 1/3. Hmm ...
  • #215,445
  • Feb 12, 2010 5:52am Feb 12, 2010 5:52am
Quoting grashid
1.3740 is the key for north
1.3610 is the key for south

1.3660/80 should watch carefully

ranging atm
mmm...bored
  • #215,446
  • Feb 12, 2010 5:54am Feb 12, 2010 5:54am
look buy dip to me..139 how many day test n not able to break...perhaps Tuesday is the best setting or before market close tonight...

mmm....let c what happen
  • #215,447
  • Feb 12, 2010 5:56am Feb 12, 2010 5:56am
the power of my yellow magic line...USD15 dollar enough for today n this week...going to take my rest atm...same chart as am posted in my blog..but this one M15 to zoom in....mmm..like it
Attached Image (click to enlarge)
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  • #215,448
  • Feb 12, 2010 5:58am Feb 12, 2010 5:58am
Quoting grashid
mmm...bored
u are to heavy so u will surely be bored.......ok...indicator is really not working for a range market ..i've had several signal on gj failing but according to the support and resistance we know what should happen at both side...IMO
MY OPINION NOT FINANCIAL ADVISE
  • #215,449
  • Feb 12, 2010 6:04am Feb 12, 2010 6:04am
Quoting donfriday
u are to heavy so u will surely be bored.......ok...indicator is really not working for a range market ..i've had several signal on gj failing but according to the support and resistance we know what should happen at both side...IMO
Don, can i know where is your S&R you refer to? My Support@139 then 135, resistant@142 then 144...Is so hard to see PA here.
  • #215,450
  • Feb 12, 2010 6:05am Feb 12, 2010 6:05am
Quoting donfriday
u are to heavy so u will surely be bored.......ok...indicator is really not working for a range market ..i've had several signal on gj failing but according to the support and resistance we know what should happen at both side...IMO
..

i bored because this week is really perfect as per plan...not challanging to mess my head....next week dunno yet...

maybe just luck in my poor observation....

mm...better draw manully by ur own....dun bother with those lagging indi....blank chart it self actually is enough for us to trade...but not much people know how to fully utilise it....
  • #215,451
  • Feb 12, 2010 6:07am Feb 12, 2010 6:07am
all pairs are pretty much bang on their 30 day averages for the day so unless the US news causes chaos we might have already seen the high and low of the day.

i had my usual luck going long on audusd just before china screwed it and it got hit the hardest by it. typical.
  • #215,452
  • Feb 12, 2010 6:13am Feb 12, 2010 6:13am
Quoting special0nefx
Don, can i know where is your S&R you refer to? My Support@139 then 135, resistant@142 then 144...Is so hard to see PA here.

i use daily pivot which update every daily candle close..but it depend what u use to spot it ..
MY OPINION NOT FINANCIAL ADVISE
  • #215,453
  • Feb 12, 2010 6:16am Feb 12, 2010 6:16am
Quoting donfriday
i use daily pivot which update every daily candle close..but it depend what u use to spot it ..
I use daily chart to spot it. Where looking at the history of the rejection for the price react.
  • #215,454
  • Feb 12, 2010 6:28am Feb 12, 2010 6:28am
Quoting special0nefx
I use daily chart to spot it. Where looking at the history of the rejection for the price react.
u can take out the mid point...
Attached File(s)
File Type: ex4 Pivots Daily_www_fx1618_com.ex4   15 KB | 325 downloads
MY OPINION NOT FINANCIAL ADVISE
  • #215,455
  • Feb 12, 2010 6:31am Feb 12, 2010 6:31am
I have been using an entry method that has worked for me every single time.

I enter once the GbPJpY has moved 180-200 pips in one direction; once the stochs are showing overbought/sold levels on 1m,5m,15m,1H i enter a trade in the opposite direction of the market.

The pair always retraces between 60-100 pips and i havent been stopped out once yet. My SL is 100pips.

i obviously keep an eye out on RED NEWS which might cause the markets to move even more ie: non-farm and interest rate decisions.

Anyone else try this strategy?
  • #215,456
  • Feb 12, 2010 6:41am Feb 12, 2010 6:41am
Quoting karimfx
as you can see in my chart, 139.95 it is also daily S1, but it is the 23.6 fib retrace.. so i'll go short if it will be broken 9 tp not estableshed yet )
salam Karim
I guess we wont see much action tonite.It is starting to range..just sell at the red line and buy at the green line.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 34 KB
  • #215,457
  • Feb 12, 2010 6:44am Feb 12, 2010 6:44am
Quoting Myrza
salam Karim
I guess we wont see much action tonite.It is starting to range..just sell at the red line and buy at the green line.
SALAM MYRZA

i see a range between daily S1 and R1, i mean between 139.95 and 141.32
LOL
  • #215,458
  • Feb 12, 2010 6:49am Feb 12, 2010 6:49am
Quoting karimfx
SALAM MYRZA

i see a range between daily S1 and R1, i mean between 139.95 and 141.32
Fractal is my friend..I follow the fractal extremes. I dont base my entry on pivot levels..but they could be a good compass. See how often price rejected the red level and how it rejected the fractal at the green line
  • #215,459
  • Feb 12, 2010 6:53am Feb 12, 2010 6:53am
Quoting Myrza
Fractal is my friend..I follow the fractal extremes. I dont base my entry on pivot levels..but they could be a good compass. See how often price rejected the red level and how it rejected the fractal at the green line
I found it hard to draw my SR levels before...they are so subjective. Everybody's SR are different. But if you follow how price reacted to fractals you will know what I mean. Try it on M1..it will be an eye opener
  • #215,460
  • Feb 12, 2010 6:57am Feb 12, 2010 6:57am
Quoting Myrza
I found it hard to draw my SR levels before...they are so subjective. Everybody's SR are different. But if you follow how price reacted to fractals you will know what I mean. Try it on M1..it will be an eye opener
i tried before to understand this indicator , but i failed to understand it .. i know just simple thory about it


if you could give me some advices about it, i'll really appreciate
LOL
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