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

  • #63,321
  • Feb 24, 2008 2:18pm Feb 24, 2008 2:18pm
The bottom of my gap is 210.80
  • #63,322
  • Feb 24, 2008 2:20pm Feb 24, 2008 2:20pm
Quoting fxstman
The bottom of my gap is 210.80
Hope it will down around last friday close. It's now 211.07
  • #63,323
  • Feb 24, 2008 2:21pm Feb 24, 2008 2:21pm
My gap goes from 210.80 to 211.15, so if i"m right it should at least reach 210.80?
  • #63,324
  • Feb 24, 2008 2:29pm Feb 24, 2008 2:29pm
Quoting Pip Dream
No but I would like to know myself as I was a bit shocked when I logged on just now and saw the 60+ pip jump up, especially as I was in a short from Friday and thought it was moving in my direction.
1) As Scrat said there we likely orders left over from Friday
2) In very light volume trading conditions forex can be manipulated and often is ...... even though most forex traders do not think this possible. Look at some of the spikes we have had last week (the 21st being one of them). They can push the price up trying to get those stops just above the 211 resistance zone. It is very hard for forex to be manipulated , but not impossible.
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  • #63,325
  • Feb 24, 2008 2:31pm Feb 24, 2008 2:31pm
Quoting Scrat
oh yeah... i forgot about this.
here's how it works with the gap: since we bounced on Friday, that means we had a momentum upwards at market end, so there must be unfilled orders that are leftover from last week. all you need is one or two big orders, and there you go... you have a gap.

Cheers matey, nice one!
  • #63,326
  • Feb 24, 2008 2:33pm Feb 24, 2008 2:33pm
Quoting fxstman
My gap goes from 210.80 to 211.15, so if i"m right it should at least reach 210.80?

The real gap close is 210.8.

With major previous resistance at 211 ..lets call gap close 211 for now.

I closed here and am flat for now.

Nice fast 40 pips for a slow Sunday afternoon.
Blogging daily now at www.volume.zone
  • #63,327
  • Feb 24, 2008 2:35pm Feb 24, 2008 2:35pm
Quoting malcolmb14
The real gap close is 210.8.

With major previous resistance at 211 ..lets call gap close 211 for now.

I closed here and am flat for now.

Nice fast 40 pips for a slow Sunday afternoon.
Yes it was! did the samething last sunday. Good way to start the week.
  • #63,328
  • Feb 24, 2008 2:35pm Feb 24, 2008 2:35pm
Quoting malcolmb14
1) As Scrat said there we likely orders left over from Friday
2) In very light volume trading conditions forex can be manipulated and often is ...... even though most forex traders do not think this possible. Look at some of the spikes we have had last week (the 21st being one of them). They can push the price up trying to get those stops just above the 211 resistance zone. It is very hard for forex to be manipulated , but not impossible.
Cheers for that Malcolm. So do you think this will continue back down now to low 210's or bounce off 211 and go up now?
  • #63,329
  • Feb 24, 2008 2:41pm Feb 24, 2008 2:41pm
I've got two targets on my chart for GBPJPY. There are many places where she is signaling a move south, conservatively to 209.92. There are far fewer signals of a move up, but I have found one legitimate one that is headed to 211.29 conservatively.
The price is closer to the upper end. I will probably wait to see where she goes first and trade accordingly. Sell @ 211.29 TP 209.92, or buy @ 209.92 TP 211.29.
hedging would also be good now since we are in the middle. TP at one of the two targets and then add to the other position. I hope that makes sense.
We'll see!
  • #63,330
  • Feb 24, 2008 2:44pm Feb 24, 2008 2:44pm
Quoting Pip Dream
Cheers for that Malcolm. So do you think this will continue back down now to low 210's or bounce off 211 and go up now?

I have sell triggers (rsi14 in overbought zone) on 10 min and 15 min charts.

The NIKKEI225 and dj-30 futures open in 1 hour 20 min. I will see what happens then .

We have strong Resistance at 211.4 ( previous double top).

Also there was NO pull back on the dj-30 going into close on Friday , so the futures could drop as some profit taking happens at open , taking the NIKKEI and GBPJPY down.

At this point break 211 to down side I am short , break 211.4 to upside I am long.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.png Size: 282 KB
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  • #63,331
  • Feb 24, 2008 2:48pm Feb 24, 2008 2:48pm
i am not able to login fxcm
anyone have the same problem ?
  • #63,332
  • Feb 24, 2008 2:50pm Feb 24, 2008 2:50pm
Quoting juliekhan
i am not able to login fxcm
anyone have the same problem ?
fxcm good here
Blogging daily now at www.volume.zone
  • #63,333
  • Feb 24, 2008 3:00pm Feb 24, 2008 3:00pm
Quoting malcolmb14
fxcm good here
17:35

We are aware that a handful of clients with accounts starting with 909* or 1890* are not able
to access their trading station. We are looking into the matter now. You will be able to log on shortly
  • #63,334
  • Feb 24, 2008 3:09pm Feb 24, 2008 3:09pm
mt4 can't connect to fxdd servers!! anyone else having the same?
  • #63,335
  • Feb 24, 2008 3:10pm Feb 24, 2008 3:10pm
to malcolmb14
my chnls looks different from yours somehow
http://www.tradingrooms.com/chartpos...2420082390.png
  • #63,336
  • Feb 24, 2008 3:19pm Feb 24, 2008 3:19pm
Anyone waiting to short this pair?
  • #63,337
  • Feb 24, 2008 3:22pm Feb 24, 2008 3:22pm
Quoting mktjong
Anyone waiting to short this pair?
Or wait a couple more hours to see how Asian market is dealing..
  • #63,338
  • Feb 24, 2008 3:28pm Feb 24, 2008 3:28pm
Quoting naatha
to malcolmb14
my chnls looks different from yours somehow
http://www.tradingrooms.com/chartpos...2420082390.png


No two traders will ever arrive at the same thing on a chart.

I use a linear regression channel and every time I draw them they are different.
Blogging daily now at www.volume.zone
  • #63,339
  • Feb 24, 2008 3:32pm Feb 24, 2008 3:32pm
Quoting mktjong
Anyone waiting to short this pair?
Yeah, me. I'll short again if it goes up to the 211.40 area again.
  • #63,340
  • Feb 24, 2008 3:36pm Feb 24, 2008 3:36pm
Quoting rodders
Yeah, me. I'll short again if it goes up to the 211.40 area again.
My hands is also itching to short it now, but I think it is trying to re-test 211.48ish. If that line rejects it, would go short from there
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