Thread: GBP and JPY Pairs H1 2013

Originally Posted by jamilgaruty

HELLO THERE PIPSTARS 007 SORRY FOR NOT BEEN HERE SINCE MORNING, BUT I MADE SOMETHING TO YOU GUYS SO THAT WE CAN DISCUSS IT TOGETHER,
THE QUESTION IS: DO YOU THINK THAT THE EURO MAY EASE LOWER TO BREAK THE 1.2000 LEVEL OR NOT ???
FOR MORE CLARIFICATION HERE YOU GO GUYS MY WEEKLY CHART ART, WITH ELLIOT WAVE THEORY HIT: WE ALL KNOW THAT IF THE PRICE MOVE ABOVE WAVE 4 THEN IT WILL BE THE END OF WAVE 5 AND WE MAY BOUNCE HIGHER IN THIS POINT
PLUS I APLLIED THE FIB EXTENSION LEVEL AND WE MIGHT REACH THE 100 FIB EXT.
I HOPE YOU GUYS CAN SEE IT CLEARLY....
ONE THING TO SAY HERE AS WE TRADE BELOW 3500 IT IS A BEAR MARKET .

Hello jamil, do you think we get a rebound from here. Where to you look to initiate a new short position? On a break below current low or a Fibonacci retracement

Originally Posted by root-minus

Attachment 130928


scalping

booked some, secured

Hello root-minus, What is your trigger/signal for entering a trade using Renko Charts?

Originally Posted by Franosh

Perhaps a deceptively simple answer to that is there is no-other way out. Not bailing out banks and bond holders is not an option either, because no country at the moment can survive and thrive debt free. Even China is heavily in debt (perhaps we can thank the wonder idea of financial gearing). If all creditors are scared away, where is money going to come from? It's all merry go-around of rounds and rounds of debt from others who borrow from others who borrow from some others. Then we are all very rich, but also very poor at the same time. Everyone is an emperor wearing his new clothes!

hi franosh

will you please do me favor that you find out the reason in your charts why prices turned from 2288 not my number 2293, wel first hit was precisely at 2293 but the 2293 number wasn't a technical number it was "mechanical", as you are good with lines and all that stuff

thank you!

Originally Posted by stryker

thnx.. just getting back and still riding a small one and boy I'm seeing it but can't believe it.. 73 pts and counting.. I do have a 1632 prior to 1644 and perhaps get to see it.. in any case will be closing the loner soon.....
It's been a blast and would like to see euro closing above 2415 mins..

GL..

i have 1654 in line

Originally Posted by CodyB

ahhh thank you, I have not seen that. it never fails to amaze me when some bank or institution is bailed out for making bad decisions. Let them go broke, dont care how big they are, others WILL take their place and we then have a healthy system, maybe a smaller one but healthier. Maybe I'm delusional too. What the planet has now is the same wound that has been only bandaged over, the rot underneath is still there.

The term "bail out" if often misused these days - the famous AIG fiasco a few years ago was a bail out in which the US government put up the money owed to AIG which was in turn owed to America's foreign creditors. The Fed received a lot of criticism for this but they couldn't just screw over the Asians and then expect them to buy US treasuries the next day. The truth is, banks fail all the time. In the US , the government usually steps in and merges the failing institution with another bank and the depositors still have access to their accounts. Sometimes the governments of the world do step up and inject capital into banks to protect the institution from collapse, as with Bankia most recently. But there are trillions of euros outstanding of sovereign debt which has been lent to the European peripheral nations by banks and institutions, and some of this isn't going to be paid back. The issue is really how it can be written off, and if this can happen without causing a complete collapse in the global credit markets
Comparing the US debt problems to the Europeans isn't really productive - both continents have serious problems but they are very different and require different sets of solutions

Originally Posted by turmaz

hi franosh

will you please do me favor that you find out the reason in your charts why prices turned from 2288 not my number 2293, wel first hit was precisely at 2293 but the 2293 number wasn't a technical number it was "mechanical", as you are good with lines and all that stuff

thank you!

It poked a few pips below my lines too. I would say it's perhaps classic 'wash and rinse': the first wash low is at 2293, then rinse a few pips below there to rinse out those stingy tight a** with tight stops a few pips beyond strategic points. Whale tactics.

Perhaps a glorious summer/few weeks ahead.

Originally Posted by Gregory McLeod

Hello root-minus, What is your trigger/signal for entering a trade using Renko Charts?

there are several, Renko rule trading rules works on CLOSED BRICKS, enter sell on closed bear brick or buy on CLOSED BULL BRICK at levels of your interest, l use the rules but not all the time as l use renko to simplify the horizontal S/R levels - all clear horizontal trading. Also exits are based on CLOSED BRICKS too, if you have a buy - you can exit if and when you see a closed bear brick etc ........... will post an example


thanks for the likes

Originally Posted by root-minus

there are several, Renko rule trading rules works on CLOSED BRICKS, enter sell on closed bear brick or buy on CLOSED BULL BRICK at levels of your interest, l use the rules but not all the time as l use renko to simplify the horizontal S/R levels - all clear horizontal trading. Also exits are based on CLOSED BRICKS too, if you have a buy - you can exit if and when you see a closed bear brick etc ........... will post and example


thanks for the likes

quick example

Hello Traders! Its been a very volatile market with the Global equities selling off while the dollar rallied.

Are any of you holding positions over the weekend?

EURUSD - The ratio of long to short positions in the EURUSD stands at 1.22 as nearly 55% of traders are long. Yesterday, the ratio was at 1.47 as 59% of open positions were long. In detail, long positions are 12.9% lower than yesterday and 21.2% weaker since last week. Short positions are 5.1% higher than yesterday and 17.0% stronger since last week. Open interest is 5.6% weaker than yesterday and 15.3% below its monthly average. The important drop in long positions and rise in short positions warns that the Euro could consolidate or even strengthen through short-term trading.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 2.30 as nearly 70% of traders are long. Yesterday, the ratio was at 2.49 as 71% of open positions were long. In detail, long positions are 13.3% lower than yesterday and 31.1% weaker since last week. Short positions are 6.2% lower than yesterday and 4.8% stronger since last week. Open interest is 11.3% weaker than yesterday and 23.3% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 3.07 as nearly 75% of traders are long. Yesterday, the ratio was at 2.82 as 74% of open positions were long. In detail, long positions are 4.0% lower than yesterday and 3.7% weaker since last week. Short positions are 12.0% lower than yesterday and 5.2% weaker since last week. Open interest is 6.1% weaker than yesterday and 1.5% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 7.58 as nearly 88% of traders are long. Yesterday, the ratio was at 7.05 as 88% of open positions were long. In detail, long positions are 4.3% lower than yesterday and 15.1% stronger since last week. Short positions are 11.0% lower than yesterday and 17.1% weaker since last week. Open interest is 5.1% weaker than yesterday and 1.0% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at -1.74 as nearly 63% of traders are short. Yesterday, the ratio was at -1.49 as 60% of open positions were short. In detail, long positions are 12.0% lower than yesterday and 2.1% weaker since last week. Short positions are 2.7% higher than yesterday and 3.8% weaker since last week. Open interest is 3.2% weaker than yesterday and 13.5% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.

USDCAD - The ratio of long to short positions in the USDCAD stands at -2.00 as nearly 67% of traders are short. Yesterday, the ratio was at -2.01 as 67% of open positions were short. In detail, long positions are 7.6% lower than yesterday and 11.2% weaker since last week. Short positions are 8.2% lower than yesterday and 25.0% weaker since last week. Open interest is 8.0% weaker than yesterday and 10.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 2.83 as nearly 74% of traders are long. Yesterday, the ratio was at 2.48 as 71% of open positions were long. In detail, long positions are 12.2% lower than yesterday and 21.7% weaker since last week. Short positions are 23.2% lower than yesterday and 9.3% stronger since last week. Open interest is 15.4% weaker than yesterday and 15.1% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 3.25 as nearly 76% of traders are long. Yesterday, the ratio was at 2.93 as 75% of open positions were long. In detail, long positions are 8.1% higher than yesterday and 1.5% stronger since last week. Short positions are 2.6% lower than yesterday and 19.0% stronger since last week. Open interest is 5.4% stronger than yesterday and 1.8% above its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.

EURCHF - The ratio of long to short positions in the EURCHF stands at 28.33 as nearly 97% of traders are long. Yesterday, the ratio was at 29.01 as 97% of open positions were long. In detail, long positions are 1.6% lower than yesterday and 6.3% weaker since last week. Short positions are 0.7% higher than yesterday and 0.7% stronger since last week. Open interest is 1.6% weaker than yesterday and 13.8% below its monthly average. The SSI is a contrarian indicator and signals more EURCHF losses.

Read more about the EURCHF in our special report: Euro/Swiss Franc Nears 1.20, Swiss National Bank Hovers-Trade Setups? | DailyFX
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

Originally Posted by root-minus

there are several, Renko rule trading rules works on CLOSED BRICKS, enter sell on closed bear brick or buy on CLOSED BULL BRICK at levels of your interest, l use the rules but not all the time as l use renko to simplify the horizontal S/R levels - all clear horizontal trading. Also exits are based on CLOSED BRICKS too, if you have a buy - you can exit if and when you see a closed bear brick etc ........... will post an example


thanks for the likes

Your stuff rocks!!!

another scalp

Originally Posted by root-minus

quick example

He root-minus, I like colors and shapes so I am going to try this this simple method. Just call me the 'Brickster!'

Originally Posted by Gregory McLeod

He root-minus, I like colors and shapes so I am going to try this this simple method. Just call me the 'Brickster!'

l'm sure you'll enjoy it, there are only 2 parameters, as Renko bricks are prrice only, no timeframe, you have only to choose your brick size, these are 10 point bricks, you might like 15 or 20 etc. Depending on your brick size your stops are ALWAYS 2 bricks, so if you have a 15 point brick - every trade ( sticking to fixed rules ) your max stop is always 30 points plus spread


easy to see trends in it too, the current situation we have 4 bricks up 2 down, then 4 bricks up and 2 down, so the 2 down are minor retracements to the trendline

second parameter is - how many bricks are you going to let close AGAINST your position before you close it out? So, it takes a bit of consideration



Have a splendid weekend Brickster!

Originally Posted by Gregory McLeod

He root-minus, I like colors and shapes so I am going to try this this simple method. Just call me the 'Brickster!'

Bricks and McLeods do mix you know...

Thanks Greg for all your support of us Bricks and Clouds types!

Great Weekend All!!

Originally Posted by buggypilot

Bricks and McLeods do mix you know...

Thanks Greg for all your support of us Bricks and Clouds types!

Great Weekend All!!

Have a good one! look me up if you are in the Dallas area!