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

  • #231,381
  • Aug 31, 2010 4:35pm Aug 31, 2010 4:35pm
Quoting USD-Bear
Is this a valid bullish divergence (MACD)?

H1:
Attachment
Can anyone confirm if i'm completely off the ball here but I've always drawn divergences either both above or both below the price and oscillator, not one above and one below.

Not a divergence expert here, just one who uses it occasionally as a supplementary tool.
  • #231,382
  • Aug 31, 2010 4:57pm Aug 31, 2010 4:57pm
you're welcome. i took a tentative long, got kicked out and then remained flat for the rest of the day. the chart screamed short though... it's just that my gut was saying something else so i decided to sit on the sidelines until i get back in harmony with price action.

another chart - 60 min, same thing as yesterday: ask-bid balance shows more downside action (in fact, every tf above 15 min shows the same thing). i don't know where this is going (maybe 126? maybe 118?) but it's going quite fast.

Quoting maanawi
Thanks Scrat for your advice yesterday. i wasnt able to short so i just closed and stay away, I will be taking time to rest and do more studies..

by the way do u remember the sniper talk of the trend just remind for fun mate ..
good luck to all
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Nihil Sine Deo.
  • #231,383
  • Aug 31, 2010 6:15pm Aug 31, 2010 6:15pm
and.....I shorted again.....at 129.65


Quoting darkmorg
if you really wanna gamble (don't know why you're TRYING for longs so hard. should just watch it rise then short it) and if this is a retrace, it's going to 129.65
peace and love
  • #231,384
  • Aug 31, 2010 6:32pm Aug 31, 2010 6:32pm
Hi,
just one question; what's your reason for shorting GY? GBP weakness or yen strength?

Thanks in advance
Quoting darkmorg
and.....I shorted again.....at 129.65
  • #231,385
  • Edited 7:03pm Aug 31, 2010 6:41pm | Edited 7:03pm
retrace/no retrace

waiting for breakout on H1 for potential pullback. 50% seems like decent target. 61% overshoot.
we may have a repeat of the scenario on chart 2 (yellow circles) in which case short on breakout of ltl. 15230, 15115 downside targets.
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  • #231,386
  • Aug 31, 2010 7:23pm Aug 31, 2010 7:23pm
GY is challenging DPP/WS1. if we break out above will go long for a small trade. (still bearish)
if GU doesn't pull back above 15370... looks grim for Sterling.
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  • #231,387
  • Aug 31, 2010 7:32pm Aug 31, 2010 7:32pm
Is this gold going to drop if so i have to buy some gold in physical form
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  • #231,388
  • Aug 31, 2010 7:32pm Aug 31, 2010 7:32pm
Quoting Fudomyo
GY is challenging DPP/WS1. if we break out above will go long for a small trade. (still bearish)
if GU doesn't pull back above 15370... looks grim for Sterling.
GU looks like ready to move down further 150-200 pips.4hr 50 ema ready to cross 200ema.
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  • #231,389
  • Aug 31, 2010 7:38pm Aug 31, 2010 7:38pm
Quoting honeybhi
GU looks like will move down further 150-200 pips.4hr 50 ema ready to cross 200ema.
if we get the H1 TL breakout, see what happens 15380 DPP first. turning bullish lower TF. this H1 close may tip us towards a retrace before the next leg down. 15450 upside target.
  • #231,390
  • Aug 31, 2010 7:44pm Aug 31, 2010 7:44pm
Quoting Fudomyo
if we get the H1 TL breakout, see what happens 15380 DPP first. turning bullish lower TF. this H1 close may tip us towards a retrace before the next leg down.
1hr and below seeems like retracing but daily looks like a new downtrend forming ????? May be retrace a bit or consolidate and then pump hard.

Also price closed below daily 200ema.
  • #231,391
  • Aug 31, 2010 7:47pm Aug 31, 2010 7:47pm
Finally I got it right with gy and I'm in at the bottom 128.76.
Hoping for 50% retrace.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,392
  • Aug 31, 2010 7:50pm Aug 31, 2010 7:50pm
great charts thank you fudomyo!
Quoting Fudomyo
retrace/no retrace

waiting for breakout on H1 for potential pullback. 50% seems like decent target. 61% overshoot.
we may have a repeat of the scenario on chart 2 (yellow circles) in which case short on breakout of ltl. 15230, 15115 downside targets.
  • #231,393
  • Aug 31, 2010 8:22pm Aug 31, 2010 8:22pm
Quoting KillerWhale
Finally I got it right with gy and I'm in at the bottom 128.76.
Hoping for 50% retrace.
gy = 127.60-126.60-125.40 also possible with current monthly double top
ey = no place to land n i am not suprice if it broke 100 level to 99 within this month-Oct.

g
  • #231,394
  • Aug 31, 2010 8:53pm Aug 31, 2010 8:53pm
closed GY/GU longs here +47, +29

Will go back in after pullback, not taking chances on this retrace, booking each leg of the move.

Quoting Fudomyo
GY is challenging DPP/WS1. if we break out above will go long for a small trade.
Quoting Fudomyo
retrace/no retrace

waiting for breakout on H1 for potential pullback. 50% seems like decent target. 61% overshoot.
  • #231,395
  • Aug 31, 2010 9:02pm Aug 31, 2010 9:02pm
Quoting Fudomyo
closed GY/GU longs here +47, +29
I will sell from now.150 pip stop.
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  • #231,396
  • Aug 31, 2010 9:23pm Aug 31, 2010 9:23pm
Quoting honeybhi
I will sell from now.150 pip stop.
I'm still in long but watching it like a hawk
New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,397
  • Aug 31, 2010 9:39pm Aug 31, 2010 9:39pm
Quoting KillerWhale
I'm still in long but watching it like a hawk
Took 50% off for 110 pips gain
New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,398
  • Aug 31, 2010 10:03pm Aug 31, 2010 10:03pm
ADP to be a shitkicker in about 7 hours. Volatile times ahead.
  • #231,399
  • Aug 31, 2010 10:16pm Aug 31, 2010 10:16pm
Quoting Eulogy
ADP to be a shitkicker in about 7 hours. Volatile times ahead.
Lol Looking at the news ahead I closed the rest of my long for 100 pips.
Wondering why ADP is positive +20 and Labor Department is negative -101.
Still Census layoffs going on? Or maybe 120,000 teachers and fire fighters laid off?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,400
  • Aug 31, 2010 10:43pm Aug 31, 2010 10:43pm
small range between 129-130 till NY open could be the behaviour on GY as not much activity atm...till breakout .

n today close is very very important to me to decide, reverse or bear continuaition as per mentioned target earlier...

i saw atm 135 is the max if bull wanna take over ...

taking my rest with nice up n down yesterday....

but base on my observation 129 should be the reversal point vs daily, but anything could happen....

good luck all

g
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