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GBPJPY scalpers

  • #741
  • Mar 23, 2008 4:13pm Mar 23, 2008 4:13pm
Makes sense. Let Malcolm talk on any pair and we can chat on the GBPJPY...
  • #742
  • Mar 23, 2008 4:27pm Mar 23, 2008 4:27pm
Quoting sharon_gpl
Thanks , I will follow what you said. Shall just limit to eur/cad and gbp/jpy. I know your view on eur/cad is up. Appreciate any recommendation you have on these 2 pairs.
I'd say be careful with this one...It looks like there is a correcton down due before it returns to up mode.

It seems to be stagnating for 4 days on the daily chart and the peak on 3/20 is impressive but it is not clear if the daily chart is forming a bull flag in which case there would be a small correction down before continueing higher.

I don't trade this one but the chart sure looks like some smooth waves!

Elijah
  • #743
  • Mar 23, 2008 4:34pm Mar 23, 2008 4:34pm
Quoting rrram2
I'd say be careful with this one...It looks like there is a correcton down due before it returns to up mode.

It seems to be stagnating for 4 days on the daily chart and the peak on 3/20 is impressive but it is not clear if the daily chart is forming a bull flag in which case there would be a small correction down before continueing higher.

I don't trade this one but the chart sure looks like some smooth waves!

Elijah

EURCAD . There is major support at 1.5500.

I have a short trigger entry 1.5650 , which would give me 100 pips into support.

The trigger is on the 2 hour chart , I will take 100 pips.
Blogging daily now at www.volume.zone
  • #744
  • Mar 23, 2008 4:55pm Mar 23, 2008 4:55pm
Quoting malcolmb14
EURCAD . There is major support at 1.5500.

I have a short trigger entry 1.5650 , which would give me 100 pips into support.

The trigger is on the 2 hour chart , I will take 100 pips.
If you sell at 1.5650 and buy back at support 1.55 thats 150 pips isnt it?>

Elijah
  • #745
  • Mar 23, 2008 4:56pm Mar 23, 2008 4:56pm
Quoting rrram2
If you sell at 1.5650 and buy back at support 1.55 thats 150 pips isnt it?>

Elijah

Thanks

Brain not engaged this afternoon
Blogging daily now at www.volume.zone
  • #746
  • Mar 23, 2008 4:57pm Mar 23, 2008 4:57pm
I guess a new multi monitor system is coming soon...

http://www.9xmedia.com/Images/L2-ima...800-pixels.gif
  • #747
  • Mar 23, 2008 5:42pm Mar 23, 2008 5:42pm
Just wanted to understand, short trade at 1.5650 tp 1.5500, current level is 1.5800, so there is a difference of 150 pips from the current to 1.5650, why not short at present level but at 1.5650. Just trying to learn the reason why. Any views is appreciated. Thanks a lot
  • #748
  • Mar 23, 2008 5:46pm Mar 23, 2008 5:46pm
Quoting sharon_gpl
Just wanted to understand, short trade at 1.5650 tp 1.5500, current level is 1.5800, so there is a difference of 150 pips from the current to 1.5650, why not short at present level but at 1.5650. Just trying to learn the reason why. Any views is appreciated. Thanks a lot
I trade to triggers .i got a short trigger , with entry 100 pips below the low of the trigger bar to confirm that in fact the trend is reversing and it is not just a false trigger.
Blogging daily now at www.volume.zone
  • #749
  • Edited 8:18pm Mar 23, 2008 7:01pm | Edited 8:18pm
hi everyone,
I have been following this thread for several months and find it very helpful in my trading. I would like to contribute but don,t understand all the lingo!! I bought a system a while ago and it is based on PRESSURE CHARTS not PRICE CHARTS, so we don,t use fibs,gann lines, banns, ema,s etc!!
i just downloaded the mt4 software and would appreciate any advise on what indicaters to start with.
thanks,
BDISCIPLINED
  • #750
  • Mar 23, 2008 7:27pm Mar 23, 2008 7:27pm
I think ole geppy will rise to or slightly above the 198.20 area. Be cautious however because a hard fall is getting close, down to 192.60 or lower.
Attached Image (click to enlarge)
Click to Enlarge Name: candles05.gif Size: 12 KB
  • #751
  • Mar 23, 2008 7:51pm Mar 23, 2008 7:51pm
Malcolmb, when you say trigger what are you referring to? I too think it is going down (eur/cad) poss below 1.5500. What do you see that you are caling trigger. or are we not to talk about a different pair on this thread....Sorry

Thanks
  • #752
  • Mar 23, 2008 7:55pm Mar 23, 2008 7:55pm
Quoting Carolyn
Malcolmb, when you say trigger what are you referring to? I too think it is going down (eur/cad) poss below 1.5500. What do you see that you are caling trigger. or are we not to talk about a different pair on this thread....Sorry

Thanks
I am using regular rsi on a 2 hour chart .

It passed down thru 60 , this is my trigger. I enter 100 pips lower to mae sure trend is in fact turned.
Blogging daily now at www.volume.zone
  • #753
  • Mar 23, 2008 8:40pm Mar 23, 2008 8:40pm
Favouring up on drop of oil and strengthening USD

range is 196.8 to 197.6 right now. Trade 2 min chart

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #754
  • Mar 23, 2008 8:50pm Mar 23, 2008 8:50pm
Strong move last 10 min ... 50 pips

since last posting. I was flat and did not take it.

Not broken 197.6 as of this posting. , but likely will .
Blogging daily now at www.volume.zone
  • #755
  • Mar 23, 2008 8:56pm Mar 23, 2008 8:56pm
5 min trigger 197.50 entry

as we are close to ressitance , lets call long entry 19.780.

Targets

198
198.2
198.44
198.8

on 60 min chart targets ( only on break out of the wedge)
198.7
199.8
200.87

We are still in a rising wedge pattern on the 60 min , which is a bearish continuation pattenr , and any position traders should really be waiting for a breakout of this pattern to confirm the trend
Blogging daily now at www.volume.zone
  • #756
  • Mar 23, 2008 8:58pm Mar 23, 2008 8:58pm
Quoting malcolmb14
Strong move last 10 min ... 50 pips

since last posting. I was flat and did not take it.

Not broken 197.6 as of this posting. , but likely will .
I was watching that right after I read your post. do you still believe we are heading for a dive soon? My My pattern recognition advisor is suggesting a long order.
All that is left in FF is just plain garbage. "Cloggie"
  • #757
  • Mar 23, 2008 8:59pm Mar 23, 2008 8:59pm
Quoting tonyo524
I was watching that right after I read your post. do you still believe we are heading for a dive soon? My My pattern recognition advisor is suggesting a long order.
Oops posted too slow lol.
All that is left in FF is just plain garbage. "Cloggie"
  • #758
  • Mar 23, 2008 9:05pm Mar 23, 2008 9:05pm
Quoting tonyo524
Oops posted too slow lol.
'


http://www.stockstoshop.com/wedges.htm

the 1st one in top left hand corner is what we have on 60 min chart,

unless this is broken to the upside we should keep on going down .

50 sma on 60 min forming support right now (197)

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Blogging daily now at www.volume.zone
  • #759
  • Mar 23, 2008 9:09pm Mar 23, 2008 9:09pm
Quoting malcolmb14
5 min trigger 197.50 entry

as we are close to ressitance , lets call long entry 19.780.

Targets

198
198.2
198.44
198.8

on 60 min chart targets ( only on break out of the wedge)
198.7
199.8
200.87

We are still in a rising wedge pattern on the 60 min , which is a bearish continuation pattenr , and any position traders should really be waiting for a breakout of this pattern to confirm the trend
I am thinking the same thing too. It looks like a bullish day in the next day or two. I would go for 201.80 area but will protect profit as for insurance if it goes well. Still patiently waiting to get in as you are ..
  • #760
  • Mar 23, 2008 9:15pm Mar 23, 2008 9:15pm
Quoting mktjong
I am thinking the same thing too. It looks like a bullish day in the next day or two. I would go for 201.80 area but will protect profit as for insurance if it goes well. Still patiently waiting to get in as you are ..
I have been trading the range tonight, I am off to bed , be back at it 4am pacific
Blogging daily now at www.volume.zone
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