I think he was just joking around, in response to the question he was asked.

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

It's been a wonderful day everyone! Let's not ruin it. Use sound MM now, while the market is trying to decide what to do next! Ron

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

Thanks. So an overbought condition might show up near the end of a bull run that's running out of steam. An oversold condition might show up near the end of a bear run that's petering out.

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

Thanks!

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

Thanks. So it would seem that our indicators catch these conditions by looking at the difference between one closing price and the next. And it seems to me this would happen after prices have risen very fast or fallen very fast.

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

Can someone help clarify what's going on fundamentally when this happens, even if I do have the two terms switched around? Thanks again!

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

I associate the terms "oversold" and "overbought" with the princlple of supply and demand. If something is oversold it means there's a glut of something on the market (more supply than demand), and the price falls. If it's overbought it means ...

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

Very conservative. Now more of the same from London so far.

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

4H retrace is complete. 30 min and 15 min QQE's are still crossed down.

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

I seriously doubt it. You can always check the history through the charts. But I do suspect they enjoy it, and take advantage when they can!

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

Frankfurt seems to love battering the pound, so we'll have them working for us too very shortly.

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

Consider your shorts released . . . hang them on this retrace if you can catch it! Ron image

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

Salaam

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

The English language can be tough for some. So can computer keyboards. And this is also the middle of the night for many. Patience is a virtue in both trading and human relations.

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

Thanks for your patience, I'll read it! But as far as you're concerned, we should still be using this: Level stop Reverse version 2 Values : ATR Periods 9 ATR Multiplier 3 and not this: values: periods=28 and multiplier=2 ? Ron

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

Speaking of which, have the settings changed for the SLR on the 15 min?

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

Good move! Human psychology is the mover of financial markets. Right now the mass psyche is figuring out how it should perceive this event.

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

url

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

I think the upward spike and the downward spike came from the PM resignation. At first it was perceived as a negative for Japan and prices went against the Yen. Then it was perceived as a positive for Japan and prices reacted the opposite. Ron ...

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

QQE is crossed up on 15 min and 30 min now. 1H QQE is getting close to a cross up. Retrace for 30 min 5SMA is complete at 232.03. 1H 5SMA is 231.90. Price might pay it a visit next.

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