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

  • #220,861
  • Apr 14, 2010 10:53am Apr 14, 2010 10:53am
well well, what do you know, price just broke through daily pvp and vwap on high volumes, which most probably represent effort to break support (see previous test of pvp).

so... looks like rally is over, folks. back to 143.20
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Nihil Sine Deo.
  • #220,862
  • Apr 14, 2010 10:54am Apr 14, 2010 10:54am
Cool.
Quoting Scrat
well well, what do you know, price just broke through daily pvp and vwap on high volumes, which most probably represent effort to break support (see previous test of pvp).

so... looks like rally is over, folks.
  • #220,863
  • Apr 14, 2010 10:55am Apr 14, 2010 10:55am
Quoting Scrat
well well, what do you know, price just broke through daily pvp and vwap on high volumes, which most probably represent effort to break support (see previous test of pvp).

so... looks like rally is over, folks.
I thought DPP was at 143.05??

http://www.actionforex.com/technical...-200603205734/
check out my blog: forexmademillionaire dot com
  • #220,864
  • Apr 14, 2010 11:02am Apr 14, 2010 11:02am
Can you tell me... (in a nutshell... ha ha ha.. just kidding...) What does pvp and wwap mean?

I am a newbie, and I still don't have all of the acronymns memorized yet.
Luck has no place in trading. Leave that for the poker table.
  • #220,865
  • Apr 14, 2010 11:02am Apr 14, 2010 11:02am
rally not over...my jpy rally is coming...be careful tomorrow about longs im just waiting for elction news this pair lose grounds badly sadly and also gbpusd you bullish will be run away from jpy crosses wait and see iknow situation change so quick and things go other direction.....happy trade,best regards
  • #220,866
  • Apr 14, 2010 11:04am Apr 14, 2010 11:04am
pvp is peak volume price, the quote where most ticks have been recorded for that day - we can assume that it is actually the quote where most contracts/trades have been placed. therefore, in my opinion, it is the best indication of live s/r because it is obtained by observing volume activity - as opposed to classical pivots, which are obtained by a mathematical formula.

that being said, after a whole day of ping-pong-ing price up (pvp - push up... then again pvp - push up...) i finally see price breaking significantly through pvp on high volumes and then returning to test it on low volumes... this is not bullish at all.

Quoting Geppy
I thought DPP was at 143.05??

http://www.actionforex.com/technical...-200603205734/
p.s. as for vwap, this is volume weighted average price... it is the ratio between current bar volume, and entire volume of the day. it's like a moving average based on volume activity.
Nihil Sine Deo.
  • #220,867
  • Apr 14, 2010 11:05am Apr 14, 2010 11:05am
Quoting JhonMonsalve
On your daily chart I see a bullish triangle, Piters is expert on it, but maybe we could break it this week [Uptrend].

Attachment
hi Jhon,

I hope your trades are going well.

Here's a possible scenario on the weekly/monthly (and also why this resistance area is proving hard)

If we can close above this area, there's a lot of room to go up. How this week ends will tell a lot. The bullish triangle looks promising, but the success rate of this formation is around 60% so it's hard to say for certain what will happen.

Let's see how it plays out.
Attached Image(s) (click to enlarge)
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  • #220,868
  • Apr 14, 2010 11:08am Apr 14, 2010 11:08am
Quoting Scrat
pvp is peak volume price, the quote where most ticks have been recorded for that day - we can assume that it is actually the quote where most contracts/trades have been placed. therefore, in my opinion, it is the best indication of live s/r because it is obtained by observing volume activity - as opposed to classical pivots, which are obtained by a mathematical formula.

that being said, after a whole day of ping-pong-ing price up (pvp - push up... then again pvp - push up...) i finally see price breaking significantly through pvp on high volumes...
Gotcha, makes sense. I thought your "pvp" abbreviation was a different one for pivot point but I see it's a different thing altogether.

Is that a separate indicator than your volume one or is it inclusive? I'd be interested in playing around with it.
check out my blog: forexmademillionaire dot com
  • #220,869
  • Apr 14, 2010 11:13am Apr 14, 2010 11:13am
Quoting Mush
rally not over...my jpy rally is coming...be careful tomorrow about longs im just waiting for elction news this pair lose grounds badly sadly and also gbpusd you bullish will be run away from jpy crosses wait and see iknow situation change so quick and things go other direction.....happy trade,best regards

Cool..cant wait for a jpy rally my self..the last feww hours jpy mini rally looks promising. The defining support now is 143.6 ...need to break this convincingly to confirm the move down
  • #220,870
  • Apr 14, 2010 11:13am Apr 14, 2010 11:13am
That sounds like fascinating information...
How does one goind about adding that to their charts and or researching how to obtain the information regarding contracts? Also, I saw a poster mention how they knew the percentage of bull and bear positions that were currently being held in the market. Do you think it is really possible for anyone to know that? And if so, from where?

Thanks for all the insight. It is appreciated~!
Luck has no place in trading. Leave that for the poker table.
  • #220,871
  • Apr 14, 2010 11:15am Apr 14, 2010 11:15am
Quoting Pair-me-up
Also, I saw a poster mention how they knew the percentage of bull and bear positions that were currently being held in the market. Do you think it is really possible for anyone to know that? And if so, from where?
FXCM publishes something every Thursday regarding this that they call "sentiment". They basically make public knowledge of what percentage of their traders are on each side of the book (long or short). You can find it here:

http://www.dailyfx.com/technical_analysis/sentiment/
check out my blog: forexmademillionaire dot com
  • #220,872
  • Apr 14, 2010 11:17am Apr 14, 2010 11:17am
my dear thanx alot...idonot know why if any pair start going up or down all peoples start saying more more and more up or down after all everything have limit.these guys giving gain to gbp against yen...gbp is crap worlds worst currency which has no value under value every where in 6months 132yen down...after all yen worlds best currency king of currecies...also uk ecnomy is worst british peoples donot have work they are coming to japan for work...thsse guys donot know japan im living in japan for long time..currency donot go up with buy or rsi these things for time being currecny go up with asset economy country strenth japan got great strenth...happy trade,best regards

Quoting Myrza
you are so adamant...i like that
  • #220,873
  • Apr 14, 2010 11:18am Apr 14, 2010 11:18am
Quoting Scrat
pvp is peak volume price, the quote where most ticks have been recorded for that day - we can assume that it is actually the quote where most contracts/trades have been placed. therefore, in my opinion, it is the best indication of live s/r because it is obtained by observing volume activity - as opposed to classical pivots, which are obtained by a mathematical formula.

that being said, after a whole day of ping-pong-ing price up (pvp - push up... then again pvp - push up...) i finally see price breaking significantly through pvp on high volumes...
Wow, very interesting Scrat. I learned something new today. Just like what you said, pvp push up pvp push up. And now this Pvp broke through the support, is this an indication of more bearishness? Does this works everytime? I mean do you encounter similar situation before?
Read the entire market, money is made on the main trend not the fluctuation
  • #220,874
  • Apr 14, 2010 11:23am Apr 14, 2010 11:23am
Quoting Mush
my dear thanx alot...idonot know why if any pair start going up or down all peoples start saying more more and more up or down after all everything have limit.these guys giving gain to gbp against yen...gbp is crap worlds worst currency which has no value under value every where in 6months 132yen down...after all yen worlds best currency king of currecies...also uk ecnomy is worst british peoples donot have work they are coming to japan for work...thsse guys donot know japan im living in japan for long time..currency donot go up with buy or rsi...
That's all well and good, but why so adament GY won't break 145? I mean you could have used some reasoning rather than simply say it won't.
I'm just curious that's all.
  • #220,875
  • Apr 14, 2010 11:25am Apr 14, 2010 11:25am
look at this chart ..the 1hour . after the breakout of that ress @141.70.that it went str8 up and havnt even test it just after the breakout.. we have to test it before we heads up and that sit right @ 78.6 fib line... and if we go that much down ,then the cont. wedge will play the role for a break higher later sometime ..

otherwise i will still cut my losses above 2days high if we go higher ..but im in for 141.70,then reverse for 148/150/151 where ever ..we are in the beginning of the range pattern,and for me it looks like a continueation wedge or what ever you call it ..all retraces should be at 78.6 if we in this kind of pattern...the same with eur/jpy . a typical bullsih wedge
Attached Image (click to enlarge)
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  • #220,876
  • Apr 14, 2010 11:30am Apr 14, 2010 11:30am
my dear 145 is very key figure....so its very very hard to break...gbpjpy break 143.6 to make us keep thinking double minded always up trend down trend...143.6 not break for further up...look at nov 2009 jan 2010 chart same style of moving later break down side u will get idea....i believe no above 144.95 this year 2010...
happy trade,best regards


Quoting ukdaytrader
That's all well and good, but why so adament GY won't break 145? I mean you could have used some reasoning rather than simply say it won't.
I'm just curious that's all.
  • #220,877
  • Apr 14, 2010 11:31am Apr 14, 2010 11:31am
Quoting Fudomyo
hi Jhon,

I hope your trades are going well.

Here's a possible scenario on the weekly/monthly (and also why this resistance area is proving hard)

If we can close above this area, there's a lot of room to go up. How this week ends will tell a lot. The bullish triangle looks promising, but the success rate of this formation is around 60% so it's hard to say for certain what will happen.

Let's see how it plays out.
Hey John! How it's going buddy? What about your new Tre* bike?

Great charts, pretty clean and clear, I'm targeting 147 [145 first], but your targets looks reachable , keep a flexible mind [I know you do it], I just only know one thing: $ is tanking again, so, £ is strong and ¥ weak, that's a good geppy cocktail, most of the traders here who follow Gann HiLo, check from 4h until weekly, like somebody posted a few days ago, Geppy just tested 5 Sma on weekly charts and bounced from there, so, next parade 50 Ema on Weekly charts above 147, but Monthly Gann is next @153, check this Monthly candlestick analysis: Bullish Piercing line [week by week, day by day is constructing a bullish scenario]

Chart talks for itself:

Attached Image (click to enlarge)
Click to Enlarge Name: geppym1.gif Size: 10 KB


Let me know what you think mate!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #220,878
  • Apr 14, 2010 11:32am Apr 14, 2010 11:32am
Geppy.... Thanks for the link.


Mush... Although I am a newbie, I agree with your fundamentals. However, where do you see the GBP/JPY at in the next two days.

Also that is cool that you live in Japan. Can you share a couple of forex Japanese here? if not いいよ～！　問題　じゃないよ～！　平気だよ～！By the way.... I live in 台灣。　I know some of you out there don't have Chinese or Japanese fonts installed on your computer, so you maynot be able to read that... ha ha ha. Sorry... But then you can know how us newbies feel when we look at the charts. It is past my bed time... Good night all.
Luck has no place in trading. Leave that for the poker table.
  • #220,879
  • Apr 14, 2010 11:33am Apr 14, 2010 11:33am
Quoting Mush
my dear 145 is very key figure....so its very very hard to break...gbpjpy break 143.6 to make us keep thinking double minded always up trend down trend...143.6 not break for further up...look at nov 2009 jan 2010 chart same style of moving later break down side u will get idea....i believe no above 144.95 this year 2010...
happy trade,best regards
Really? Fair play to you my friend.

I'm not brave enough to make that sort of prediction.
  • #220,880
  • Apr 14, 2010 11:34am Apr 14, 2010 11:34am
Quoting Mush
my dear thanx alot...idonot know why if any pair start going up or down all peoples start saying more more and more up or down after all everything have limit.these guys giving gain to gbp against yen...gbp is crap worlds worst currency which has no value under value every where in 6months 132yen down...after all yen worlds best currency king of currecies...also uk ecnomy is worst british peoples donot have work they are coming to japan for work...thsse guys donot know japan im living in japan for long time..currency donot go up with buy or rsi...

But your projection of a drop to 90 is just too ridiculous. You are right to say sterling is crap but I think yen is crap too. The former is crappier cos it just follow the the latter movement like mirror image. Happy trade and best regards to you too.
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