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  • #61
  • Mar 16, 2015 1:57pm Mar 16, 2015 1:57pm
Re-entered long on GN after I was stopped out last night, as I still had confidence in my entry level. Just needed better placement for SL. Also, still in GA trade.

On daily chart, classic bull flag patterns with both of these pairs. Prior false break out on the top channel on GN. I'm targeting that swing high. For GA, top of flag channel was a little more respected on last swing high, so targeting less on this upswing.

Currently up 150+ pips on both pairs. Targeting 488 for GA and 816 for GN. Tempted to move SLs to BE, as I know there is nothing certain regardless of how much confidence...

Not recommending anyone jump in long on these pairs now, but I'd definitely buy on any pull-backs, unless a new low is made on the daily chart...
  • #62
  • Mar 16, 2015 6:15pm Mar 16, 2015 6:15pm
As some of you may already notice that the spreads are fairly high trading these pairs compare to common pairs such as EU and UJ.

The broker i am using is FXCM (http://www.forexfactory.com/brokers.php?broker=fcm)-US. Below are the average spread readings which is not too bad.

  1. GBPNZD - 2.7 (RAW) pips
  2. GBPAUD - 1.4 (RAW) pips
  3. GBPJPY - 1.4 (RAW) pips

Hope you find this helpful.

PS
I am not promoting using FXCM as your next broker.
I am just sharing which broker and its spread I am current using in trading these pairs for maximum profit.

If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #63
  • Mar 16, 2015 6:26pm Mar 16, 2015 6:26pm
Quoting benaiah
Re-entered long on GN after I was stopped out last night, as I still had confidence in my entry level. Just needed better placement for SL. Also, still in GA trade. On daily chart, classic bull flag patterns with both of these pairs. Prior false break out on the top channel on GN. I'm targeting that swing high. For GA, top of flag channel was a little more respected on last swing high, so targeting less on this upswing. Currently up 150+ pips on both pairs. Targeting 488 for GA and 816 for GN. Tempted to move SLs to BE, as I know there is nothing...
After last night's action, GA just simply refused to go under.
It does seem to me that GA is trying to move into its channel; however, I still don't have a confirmation on the pull-back yet.

Let's see what happens later today.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #64
  • Mar 16, 2015 6:31pm Mar 16, 2015 6:31pm
Quoting FXSayWhat
{quote} After last night's action, GA just simply refused to go under. It does seem to me that GA is trying to move into its channel; however, I still don't have a confirmation on the pull-back yet. Let's see what happens later today.
It's because out of no where, once again, GU refuses to go down since the lows on friday. Lately it seems when I short GU it has to go up, when i go long it has to go down.... grrrr Guess it wants to go back to 1.5? GU will certainly make new lows, for GA the question is will it go down more than AU.... not too sure to be honest. to me it seemed GA might have bottomed and it will go up from here, but we'll have to see... I'm still expecting GU to go down to 1.42ish over next few months, so I'd rather wait till later to look at longing GA for a bigger move.
  • #65
  • Mar 16, 2015 6:38pm Mar 16, 2015 6:38pm
Quoting Ck87
{quote} It's because out of no where, once again, GU refuses to go down since the lows on friday. Lately it seems when I short GU it has to go up, when i go long it has to go down.... grrrr Guess it wants to go back to 1.5? GU will certainly make new lows, for GA the question is will it go down more than AU.... not too sure to be honest. to me it seemed GA might have bottomed and it will go up from here, but we'll have to see... I'm still expecting GU to go down to 1.42ish over next few months, so I'd rather wait till later to look at...
hum... dollar is currently bullish, but AUD isn't strong at the moment given the fact its central bank kept wanting a lower AUD. I am curious how would you be able to make such connection between GBPAUD and GBPUSD if you don't mind sharing you opinions.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #66
  • Mar 16, 2015 6:48pm Mar 16, 2015 6:48pm
Quoting FXSayWhat
{quote} After last night's action, GA just simply refused to go under. It does seem to me that GA is trying to move into its channel; however, I still don't have a confirmation on the pull-back yet. Let's see what happens later today.
Yeah, GA kind of hanging around the consolidation area. The one positive I see, is it did push above it, and no rejection yet. I also see nice impulsive moves on M15, last 2 upswings, followed by corrective moves. Currently in a corrective/consolidation move. Will be hoping for the break out. I also hope I don't start staring at every M15 candle waiting for it to close, ha ha
  • #67
  • Edited 7:06pm Mar 16, 2015 6:51pm | Edited 7:06pm
Quoting FXSayWhat
{quote} hum... dollar is currently bullish, but AUD isn't strong at the moment given the fact its central bank kept wanting a lower AUD. I am curious how would you be able to make such connection between GBPAUD and GBPUSD if you don't mind sharing you opinions.
well GBP/AUD = GBPUSD / AUDUSD

For example if GBP/USD goes up 1% and AUD/USD goes up 0.5% then GBP/AUD will be up 0.5%
This is how all crosses work.
So with GBP/JPY we have GBPUSD / USDJPY
GBPUSD goes up 1% but USDJPY down 0.5% = GBPJPY +0.5%...... and so on.
  • #68
  • Mar 16, 2015 7:25pm Mar 16, 2015 7:25pm
Quoting Ck87
{quote} well GBP/AUD = GBPUSD / AUDUSD For example if GBP/USD goes up 1% and AUD/USD goes up 0.5% then GBP/AUD will be up 0.5% This is how all crosses work. So with GBP/JPY we have GBPUSD / USDJPY GBPUSD goes up 1% but USDJPY down 0.5% = GBPJPY +0.5%...... and so on.
Interesting calculations...
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #69
  • Mar 16, 2015 7:27pm Mar 16, 2015 7:27pm
Quoting FXSayWhat
{quote} Interesting calculations...
Yeah, it's simple math and how it works. I noticed this a few years ago when I had a watchlist that had like 100 currencies on it or something like that and it was pretty clear to me then...
  • #70
  • Mar 16, 2015 10:52pm Mar 16, 2015 10:52pm
Quoting Ck87
{quote} Yeah, it's simple math and how it works. I noticed this a few years ago when I had a watchlist that had like 100 currencies on it or something like that and it was pretty clear to me then...
I really find it hard to believe unless there is a tested proof.

If that's something has been working out for you, that's great.

As far as i could tell, and according to my charts and several online study sites, the correlation between gbpaud and gbpusd is just NOT there or least not not solid enough to be used as one of my edges.

If you are interested. I will PM you the site to take a look.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #71
  • Mar 16, 2015 11:03pm Mar 16, 2015 11:03pm
GBPJPY

Do we have a show-hand towards the 179.50 level here?
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-16_20-59-42.jpg Size: 160 KB


I am currently staying flat till the London section.

Will be back tonight at London open try to catch something in 3 hours.

FOMC in less than 2 days.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #72
  • Mar 16, 2015 11:11pm Mar 16, 2015 11:11pm
so far so good with this CD leg of (Bullish Gartley and bullish ABCD). sorry fxsaywhat its a daily chart (i guess we r suppose to post shorter time frame calls)

last 3, 4hr bars are pointing down ,r we near a free fall?
Attached Image (click to enlarge)
Click to Enlarge Name: gj.png Size: 114 KB
  • #73
  • Mar 16, 2015 11:17pm Mar 16, 2015 11:17pm
Quoting FXSayWhat
{quote} I really find it hard to believe unless there is a tested proof. If that's something has been working out for you, that's great. As far as i could tell, and according to my charts and several online study sites, the correlation between gbpaud and gbpusd is just NOT there or least not not solid enough to be used as one of my edges. If you are interested. I will PM you the site to take a look.
But this isn't an opinion or something i'm saying is working for me, I'm telling you the fact of how crosses work mathematically. if GBP/USD is up 1% and USDJPY is down 0.5%, GBPJPY will be up 0.5% every single time... it's just statistical fact man. This isn't some kind of system or method of mine I'm telling you about. There's not really an edge in knowing this, I guess other than knowing you should be looking at how GBP/USD and USD/JPY look if you're trading GBP/JPY, oddly enough, a lot of traders that trade these crosses, do not do this.
  • #74
  • Mar 16, 2015 11:23pm Mar 16, 2015 11:23pm
re-tracement to blue zone?
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.jpg Size: 51 KB
  • #75
  • Mar 16, 2015 11:32pm Mar 16, 2015 11:32pm
Above chart is GBPJPY H4
  • #76
  • Mar 16, 2015 11:37pm Mar 16, 2015 11:37pm
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH4.png Size: 24 KB
  • #77
  • Edited 1:12am Mar 17, 2015 12:55am | Edited 1:12am
Quoting Ck87
{quote} But this isn't an opinion or something i'm saying is working for me, I'm telling you the fact of how crosses work mathematically. if GBP/USD is up 1% and USDJPY is down 0.5%, GBPJPY will be up 0.5% every single time... it's just statistical fact man. This isn't some kind of system or method of mine I'm telling you about. There's not really an edge in knowing this, I guess other than knowing you should be looking at how GBP/USD and USD/JPY look if you're trading GBP/JPY, oddly enough, a lot of traders that trade these crosses, do not do this....
CK87, it's nothing personal. I just felt the calculation is over simplified in terms of the reaction among these named pair above. Currency is driven by the economies. These 3rd grade math calculation just simply cannot justify their relationships or they might just beyond my knowledge here.

You are free and welcomed to express your thoughts either I agree or disagree tho. I hope someone would find it insightful.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #78
  • Edited 1:13am Mar 17, 2015 12:58am | Edited 1:13am
Quoting Idkurv
{image}
Hey Idkurv, I am glad yo uare here.

Yeah the GA pair seemed like getting some momentum and push upwards for more. There zones you marks are certainly within the possibility.

Support would be at the 1.9250, technically speaking.

Good luck.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #79
  • Mar 17, 2015 1:10am Mar 17, 2015 1:10am
Quoting ssaqeel
so far so good with this CD leg of (Bullish Gartley and bullish ABCD). sorry fxsaywhat its a daily chart (i guess we r suppose to post shorter time frame calls) last 3, 4hr bars are pointing down ,r we near a free fall? {image}
ssaqeel I am not an exporter on these pattern although I have been always wanting to learn them
In this case, my ears are all yours.

As my option, I feel the GJ pair is still within the bear's control. To avoid make a forecast too far into the future while having FOMC coming up in less than 48 hours, I'd say the current level 180.00 level is something I'd keep my eyes on especially for tonight.

I'd like to say GJ is mostly still in Bear's hand; however the latest pullback from its 178.00 and its channel breakout also need to be respected equally.

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-03-16_23-06-47.jpg Size: 166 KB


It's everyone's game as far as I would concern.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #80
  • Mar 17, 2015 1:12am Mar 17, 2015 1:12am
GBPAUD looking goood.

The pair managed to to establish itself above the EMA21. I have resistance at 1.94610, it will need to be crossed as well.

Dovish comment last night from the RBA about lowering the interest rate. This is something that is expected and to a large degree is priced into the market.

Still, the European session might send the pair a little higher.

If it trades above the 1.94600, I have the next area of resistance at 1.96000. If the first resistance is crossed rangebound trading within these levels is a possibility.

More speeches coming from Australia later in the week as well, still it is tomorrow that is the day I anticipate the most regarding moving this pair.

Important fundamentals coming from GBP directly influencing this pair, as well as the US interest rate decison.

I am still holding my long positions on this pair.

Trade well to all..
Do not let the cost of being wrong, exceed the prize of beeing right
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