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

  • #221,521
  • Apr 20, 2010 3:48am Apr 20, 2010 3:48am
Quoting ScalpOrDie
I always lose money on this pair, what the hell is the secret. None of the methods I use on EUR/USD and GBP/USD or EUR/JPY work on this one. Tough pair, I envy those of you who can play it.
what can i say that to tell u not to trade all pairs..u can trade 1 pair and make ur daily target ..the different between eu and Gj is less risk and high risk cus GJ is very voletile strategy is not the problem cus market base on support and resistance to offer buy and sell signal..
if u master 1 pair like GU or EU no need to waste time on GJ..just my opinion.
MY OPINION NOT FINANCIAL ADVISE
  • #221,522
  • Apr 20, 2010 3:51am Apr 20, 2010 3:51am
the 1st wave level - updated
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  • #221,523
  • Apr 20, 2010 3:56am Apr 20, 2010 3:56am
Quoting Raza
Be very Careful Shorting it..

1 hr .. 4 hr..Specially Daily ... Bullish Divergence...ATM...

1 HR..dAILY ABOVE Ichimuko Cloud....Price just touched 4 hr Cloud...

143.69 - 143.93... will decide Whats Going ON...

So Far its Going just like the Chart I made on Thursday...( CORRECTION)
Yea, we may rally higher, but I can't ignore this....

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  • #221,524
  • Apr 20, 2010 3:59am Apr 20, 2010 3:59am
Quoting ScalpOrDie
I always lose money on this pair, what the hell is the secret. None of the methods I use on EUR/USD and GBP/USD or EUR/JPY work on this one. Tough pair, I envy those of you who can play it.

The only secret is u have to be a masochist to play GJ...because sometimes it plays u.
  • #221,525
  • Apr 20, 2010 4:04am Apr 20, 2010 4:04am
something is going on.. greece 10Y premium climbs to record high.. Sell off is near..
  • #221,526
  • Apr 20, 2010 4:14am Apr 20, 2010 4:14am
Quoting Scrat
there are 2 things that i take into account when i look at a chart:
1. position of price relative to levels from higher timeframes, and
2. levels obtained by volume indicators.

now... last month close was 141.87; last week close was 141.55. usually, when a weekly candle closes against and on the opposite side of the monthly close, then monthly direction is negated. this is the main direction, it should test next support.

on the other hand, immediate direction must be judged keeping in mind daily closed ABOVE last weekly close = this means...
agree that main (monthly) direction is bearish but it looks that bulls have not finished yet with their efforts and geppy could reach 143.5 or higher;
144 level should be watched out
  • #221,527
  • Apr 20, 2010 4:18am Apr 20, 2010 4:18am
yes. 143.15, or even 144.10. BUT, if support is broken, hello 135.

Quoting metlife777
agree that main (monthly) direction is bearish but it looks that bulls have not finished yet with their efforts and geppy could reach 143.5 or higher;
144 level should be watched out
Nihil Sine Deo.
  • #221,528
  • Apr 20, 2010 4:22am Apr 20, 2010 4:22am
Bearish divergence is getting stronger---> GJ and GU haven't play out at H1 chart,
EU have play out
GJ next resistant will be all time visit 143.35
  • #221,529
  • Apr 20, 2010 4:31am Apr 20, 2010 4:31am
Quoting ukdaytrader
Yea, we may rally higher, but I can't ignore this....

Attachment
hey what are the targets on these??? just curious to see how they work.
I guess target for the more recent divergence would be around 141 ?? but not sure about the older one.

Also I probably missed this partbut when do you enter in the direction of divergence? i'e what setups you looking for.

thanks.
  • #221,530
  • Edited 5:17am Apr 20, 2010 4:31am | Edited 5:17am
not sure
Attached Images
  • #221,531
  • Apr 20, 2010 4:36am Apr 20, 2010 4:36am
Quoting ScalpOrDie
I always lose money on this pair, what the hell is the secret. None of the methods I use on EUR/USD and GBP/USD or EUR/JPY work on this one. Tough pair, I envy those of you who can play it.
Yep, I'm in agreement...a very tough pair. I think it's quite a manipulative pair at that.

Being fairly successful in some other pairs, I've decided to try GY, but it doesn't seem to fit in the TF analysis that seem successful in other pairs I do.

I think the secret to this pair is hedging tactics. Unfortunately, it's a tactic I'm not too familiar with
  • #221,532
  • Apr 20, 2010 4:42am Apr 20, 2010 4:42am
Quoting lexazver
hey what are the targets on these??? just curious to see how they work.
I guess target for the more recent divergence would be around 141 ?? but not sure about the older one.

Also I probably missed this partbut when do you enter in the direction of divergence? i'e what setups you looking for.

thanks.
That's a very good question. lol

Typically, I look for entries when the divergence is present coupled with the price being O/B or O/S. I started this trade a bit too early tbh, but I still believe in it. Been adding small positions as we've gone up.

I'm not looking for a specific target on this trade because if we get to the play-out area, (<141), it would indicate more downside through 140 IMO. The current divergence has a play-out area of approx 141.3 ish, so that's my first thinking point.
  • #221,533
  • Apr 20, 2010 4:49am Apr 20, 2010 4:49am
Quoting ukdaytrader
That's a very good question. lol

Typically, I look for entries when the divergence is present coupled with the price being O/B or O/S. I started this trade a bit too early tbh, but I still believe in it. Been adding small positions as we've gone up.

I'm not looking for a specific target on this trade because if we get to the play-out area, (<141), it would indicate more downside through 140 IMO. The current divergence has a play-out area of approx 141.3 ish, so that's my first thinking point.
Bro, base on you chart, the previous bullish divergence since not yet finish play, if we draw the high point, is seem like the going be get more higher which i see can reach 143.90 there.

As queue up, bearish divergence also found out. So my guess is the bull running now then follow by bear, base on bullish divergence then bearish divergence.
Just my thougt , please advise, thank you
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  • #221,534
  • Apr 20, 2010 5:05am Apr 20, 2010 5:05am
Quoting Jake Snake
Yep, I'm in agreement...a very tough pair. I think it's quite a manipulative pair at that.

Being fairly successful in some other pairs, I've decided to try GY, but it doesn't seem to fit in the TF analysis that seem successful in other pairs I do.

I think the secret to this pair is hedging tactics. Unfortunately, it's a tactic I'm not too familiar with
this pair plays with TWO pairs: GU and UJ and sometimes moves in different direction to one of them; also this pair is very sensitive to any rumors (G or J)
CAUTION should be the sign of this pair
  • #221,535
  • Apr 20, 2010 5:11am Apr 20, 2010 5:11am
Quoting Scrat
yes. 143.15, or even 144.10. BUT, if support is broken, hello 135.

ill agree with scrat ,we will see 143.80/144.10 ..
  • #221,536
  • Apr 20, 2010 5:12am Apr 20, 2010 5:12am
Quoting special0nefx
Bro, base on you chart, the previous bullish divergence since not yet finish play, if we draw the high point, is seem like the going be get more higher which i see can reach 143.90 there.

As queue up, bearish divergence also found out. So my guess is the bull running now then follow by bear, base on bullish divergence then bearish divergence.
Just my thougt , please advise, thank you
I don't have any bullish divergences on my 1hr chart. In fact, I can't see any bullish divergence on all charts above 1hr. The bullish divergence which was created on Sunday/Monday played out when the gap was closed. Your chart is showing the bearish divergence still in play.
  • #221,537
  • Apr 20, 2010 5:17am Apr 20, 2010 5:17am
Quoting ukdaytrader
I don't have any bullish divergences on my 1hr chart. In fact, I can't see any bullish divergence on all charts above 1hr. The bullish divergence which was created on Sunday/Monday played out when the gap was closed. Your chart is showing the bearish divergence still in play.
Sorry i get it wrong . Is bearish actually. Gap close?
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  • #221,538
  • Apr 20, 2010 5:17am Apr 20, 2010 5:17am
How about some HD...on any Chart... you see any?...ITS EVERY WHERE....

The Divergence I am Talking about is not on Charts...But on RSI...

See the Previous Daily Candle...?

Read My SIG...

143.63 - 69 is where i have my eyes to short this..for ABCDE scenario to play out on 4 hr..(thats one of the scenario..Othere one is Bullish..higher than the last High)
Markets are not Random, they are designed!
  • #221,539
  • Apr 20, 2010 5:25am Apr 20, 2010 5:25am
Quoting Raza
How about some HD...on any Chart... you see any?...ITS EVERY WHERE....

The Divergence I am Talking about is not on Charts...But on RSI...

See the Previous Daily Candle...?

Read My SIG...

143.63 - 69 is where i have my eyes to short this..for ABCDE scenario to play out on 4 hr..(thats one of the scenario..Othere one is Bullish..higher than the last High)

my shorts is placed @ 143.79..stop above 145 ,,will take it all the way down to 135/136.. but we will see 130 sometime in Q2 ..
  • #221,540
  • Apr 20, 2010 5:28am Apr 20, 2010 5:28am
If you all follow this the coming days you can earn alot! and i mean alot!
First of all sell right now. Tp = 140.55
Then you buy. Tp = 142
Then sell TP = 139.5
Then buy TP = 143
Then a final sell for a long time TP=132
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