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

  • #70,541
  • Mar 23, 2008 12:56pm Mar 23, 2008 12:56pm
I have always seen that reffered to as a Dumpling top. Which is a big sign of distribution ( selling ). a mesa top works too, I get the picture.
Price does what price wants , I just need to be prepared.
  • #70,542
  • Mar 23, 2008 1:02pm Mar 23, 2008 1:02pm
Quoting mike w
Excellent analysis Malcolm! I love reading your stuff man!

am asking mike what i can se isn't a ascending triangle possibilities?

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  • #70,543
  • Mar 23, 2008 1:06pm Mar 23, 2008 1:06pm
[quote=mike w;1917604]Excellent analysis Malcolm! I love reading your stuff man![/quote

Thanks Mike
Blogging daily now at www.volume.zone
  • #70,544
  • Mar 23, 2008 1:12pm Mar 23, 2008 1:12pm
here in my country egypt we share our friends thier joy with thier holidays .
so happy easter and god make peace .
and happy trade full of pips.
  • #70,545
  • Mar 23, 2008 1:29pm Mar 23, 2008 1:29pm
Hi Warta

u may find a lot of more about patterns in that book. u may download it. it is just ~8mbt pdf file.

http://www.forexfactory.com/showpost...ostcount=48194

GL
It’s just emotions & money
  • #70,546
  • Mar 23, 2008 1:33pm Mar 23, 2008 1:33pm
Quoting Val144
Hi Warta

u may find a lot of more about patterns in that book. u can download it. it is just ~8mbt pdf file.

http://www.forexfactory.com/showpost...ostcount=48194

GL

tkx val so sweet
i just checked the link but its not working bro
  • #70,547
  • Mar 23, 2008 1:43pm Mar 23, 2008 1:43pm
Quoting warta
tkx val so sweet
i just checked the link but its not working bro
OK I send u a PM, please check it
It’s just emotions & money
  • #70,548
  • Mar 23, 2008 1:59pm Mar 23, 2008 1:59pm
Quoting Val144
OK I send u a PM, please check it
tkx bro i jus replied
tkx alot
  • #70,549
  • Mar 23, 2008 4:07pm Mar 23, 2008 4:07pm
HELLO GUYS,

Hope everyone enjoyed your weekend. Looked at eur/usd I have major resistance at 1.5350 and aud/usd 0.9225.

Warta , how are you doing. Hope you are recharged. Any trade recommendation for today. Have a great week ahead.
  • #70,550
  • Mar 23, 2008 4:20pm Mar 23, 2008 4:20pm
hi guys what s your idea about gj ?
  • #70,551
  • Mar 23, 2008 4:34pm Mar 23, 2008 4:34pm
Quoting danryman78
hi guys what s your idea about gj ?
For me still bearish bro! Here's my trade call short now @ 196.82 sl 198.35 (5 pips above the high mar 20) tp 192.52 (2008 low mar 17). Let's see how it goes!


Just an info and not a reco!
  • #70,552
  • Mar 23, 2008 4:37pm Mar 23, 2008 4:37pm
Am going to trade live today! Using great Aus system. Happy Easter everyone
No Magic, Just basic fundamental chart analysis
  • #70,553
  • Edited 5:44pm Mar 23, 2008 4:43pm | Edited 5:44pm
thanks mike... you are too kind.
the thing is, when i started to learn i used to read every crap i was able to find on the internet and i paid attention to all the details. good, very good or bad things... it didn't matter, because i had no idea how what i was looking for (well, apart from being profitable). so first i had to sit down and choose something that suited me (how much time can i spend watching the market, how much money can i invest, the risk i am willing to take) - and only after that i chose a STRATEGY i thought i understood and spent the following months going deeper. yes, i had a hard time, it was very frustrating but i managed to get through.
anyway... what's the point of this novel i'm writing... we need to pay attention to the big picture. leave the details and start thinking. for example... since we were talking about candlesticks... let's assume we are in a trend, and at some point we see a reversal pattern (you name it). what does this mean? a reversal? NO. it only means the CURRENT move has difficulties to go on, which gives us these possibilities:
1. a temporary stop, after which trend will resume its initial direction
2. an end of the trend - and entering a sideways range (consolidation)
3. an end of the trend - and beginning of an opposite move or a retracement
so, be CAREFUL how you interpret reversal patterns. you can see from above that your "reversal" pattern has a 1/3 theoretical chance to function as a real reversal. in reality, the probabilities are different (and most of the times, higher than 1/3) because some patterns are stronger than others, or they are associated with previous support/resistance levels...
ok guys... gotta go. enjoy the rest of the weekend and happy easter to all who are celebrating it!

Quoting mike w
Most excellent advice everyone. Listen to a man that knows his stuff and you'll become one. Happy easter to everybody that celebrates it and a great day to everybody too!

For candlesticks, you should NOT trade every pin bar or price action pattern that you see. If it is in confluence with a support and resistance area, then that puts more weight onto the price action. For instance, if you see a solid pin bar, but it's in the middle of nowhere, would you trade it? If so, why? Instead, why wouldn't you wait for the best possible setup to ensure more probable success with your position? Best of luck to everybody starting to learn how to use candlesticks effectively in your trading and remember, the key word is confluence.
Nihil Sine Deo.
  • #70,554
  • Mar 23, 2008 4:55pm Mar 23, 2008 4:55pm
sharon bro hows u today and happy easter all
wish u all a nice big green egg with ur trade
  • #70,555
  • Mar 23, 2008 5:08pm Mar 23, 2008 5:08pm
Quoting warta
sharon bro hows u today and happy easter all
wish u all a nice big green egg with ur trade
fine, boil the egg for me please
  • #70,556
  • Mar 23, 2008 5:12pm Mar 23, 2008 5:12pm
Quoting forexlion
fine, boil the egg for me please
lol lion , not a good idea but for you i can add some curry on the top :
  • #70,557
  • Mar 23, 2008 5:17pm Mar 23, 2008 5:17pm
lebvirus wb bro hows u today happy easter for u
  • #70,558
  • Mar 23, 2008 5:27pm Mar 23, 2008 5:27pm
Could be slow day until US opens. There is a couple of economic reports in the next 2-3 hours.. don't know how much it would affect the market.


21:58 USD/JPY: Trades With Soft Tone As Position Adjustments Continue Sydney, March 24: The USD/JPY is trading with an offered tone in thin Asian conditions, as unwinding of various carry trades continues to be a feature. Analysts say that there has been large amounts of commodity longs that have unwound in the past few days and a good amount of those positions were funded in JPY. There has also been a decent amount of unwinding of long AUD/JPY, CAD/JPY and NZD/JPY positions in recent days and this is also putting pressure on the USD/JPY. Support for the USD/JPY is found around 99.00 and a break below that level targets Thursday"s 0.9845 low. Resistance is found at Friday"s high around 99.75. The USD/JPY trades 99.35/40. [email protected]
  • #70,559
  • Mar 23, 2008 5:30pm Mar 23, 2008 5:30pm
Quoting mktjong
Could be slow day until US opens. There is a couple of economic reports in the next 2-3 hours.. don't how much it would affect the market.


21:58 USD/JPY: Trades With Soft Tone As Position Adjustments Continue Sydney, March 24: The USD/JPY is trading with an offered tone in thin Asian conditions, as unwinding of various carry trades continues to be a feature. Analysts say that there has been large amounts of commodity longs that have unwound in the past few days and a good amount of those positions were funded in JPY. There has also been a decent amount of unwinding of long AUD/JPY, CAD/JPY and NZD/JPY positions in recent days and this is also putting pressure on the USD/JPY. Support for the USD/JPY is found around 99.00 and a break below that level targets Thursday"s 0.9845 low. Resistance is found at Friday"s high around 99.75. The USD/JPY trades 99.35/40. [email protected]
usualy sunday / monday before the us market isn't a good time to trade coz there is no clear picture about the market and how it willl play
  • #70,560
  • Mar 23, 2008 5:32pm Mar 23, 2008 5:32pm
http://www.actionforex.com/action-in...2008032339182/
No Magic, Just basic fundamental chart analysis
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