Not liking this price action closed by shorts from 200.57. Price is dancing around Daily Pivot this has a potential of reaching 201.20 area
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #73,162
- Apr 14, 2008 7:34am Apr 14, 2008 7:34am
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #73,163
- Apr 14, 2008 7:46am Apr 14, 2008 7:46am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Not liking this price action closed by shorts from 200.57. Price is dancing around Daily Pivot this has a potential of reaching 201.20 area
multichart for u!
- #73,165
- Apr 14, 2008 7:53am Apr 14, 2008 7:53am
- Joined Apr 2006 | Status: Trader | 2,429 Posts
Thanks Q, I see the Mom' turning bullish on 4hr so very possible to reach the highs 201 area again. Whats up MM! where have u been. How's the PS room working out? hope you guys are making some nice pips there
. all is well i am back to trading my style bro!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #73,166
- Apr 14, 2008 7:56am Apr 14, 2008 7:56am
- Joined Apr 2006 | Status: Trader | 2,429 Posts
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
- #73,167
- Apr 14, 2008 8:06am Apr 14, 2008 8:06am
- Joined Aug 2007 | Status: Trader | 2,616 Posts
Currently, looks like there is no trend typical Monday tight ranging. Look for it to shoot up a little just before 11:30 (UK Market close) maybe a good place to go short but high risk to reward entry dont think its worth taking it. Ya me to 80 pips for Monday is not bad but I may look for opportunities as I am still long way away from my loss in Dec 07. 
- #73,168
- Apr 14, 2008 8:50am Apr 14, 2008 8:50am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Check out the daily GU chart, we might be at the top here
Damn, I'm giving out too much free info here:
I dream, therefore I become.
- #73,169
- Apr 14, 2008 8:57am Apr 14, 2008 8:57am
- Joined Aug 2007 | Status: Trader | 3,135 Posts
If your spread is 9 then your order would have been triggered by +12 pips not +3. Market's bid should have hit your order not market's ask. Am I right?
By the way, don't worry ... I think price will rise again. It is highly probable that price will end up it's rally within 3 waves (1-2-3) and build a double top or may be wave 3 may be higher than previous high but this will cause a bearish divergence on stochastic or MACD or whatever histogram you are using, then it's time to enter short when you see that kind of patterns and signs all together. This is the way I trade ... Just my opinions bro. I know you are a good trader.
Anyway, wasn't able to monitor the market, hence the pending order. My "prediction" was that price would hit 201 at the highest, so .80 seemed logical. Shall not forget there will always be new opportunities.
Measure twice, cut once
- #73,170
- Apr 14, 2008 9:40am Apr 14, 2008 9:40am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Check out the daily GU chart, we might be at the top here
Damn, I'm giving out too much free info here
IMHO gj completes wave 5 on the 5 min up to 200.8 or higher. Then see where she goes from there. Daily almost looks like a reversal doji , but we will have to wait and see how it ends , anything could happen before close , 4 hour has higher lows so far , howver we may be forming an inside bar this 4 hour candle , indicating the bearish scenario to play out.
that daily pivot at 199.75 seems to be strong support zone for now.
200.5 is weekly pivot .
As per my posting of the weekend , I was long into 200.5 where i expcted a reversal off the 61.8% move of Friday , then short into 199.75 , now waiting for next long confirmation on a breakout of the US market open range low at 200.05
If the 199.75 level is broken with significant momentum to the downside then I will re-evaluate , but for now will be looking for another 80 - 120 pips before the day is out to the upside,
Blogging daily now at www.volume.zone
- #73,173
- Apr 14, 2008 1:33pm Apr 14, 2008 1:33pm
- Joined Sep 2006 | Status: Trader | 2,272 Posts
its just money
- #73,174
- Apr 14, 2008 2:09pm Apr 14, 2008 2:09pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
There are a few things that make me think that GJ might break that weekly pivot atr 200.5
1) Look at 5 min , the move down from 200.5 today looks like a bull flag.
2) bull divergence showing up on both MACD and rsi on a 60 min chart.
I am not 100 % sure.... I am going to use the 50 sma on the 60 min as a pivot for now , placing orders 50 pips above the previous 1 hour candle if it breaks thru the moving average and closes above it , or 50 pips below the previous 1 hour candle if it goes down thru the moving average and closes below it.
Last 1 hour candle closed at 200.04 +50 pips=200.54, the entry is to close to the weekly pivot at 200.5 , so I am adjusting the entry to 200.85 (above US session high). The idea of the entries being above the 'trigger' bars is to let the market come to you.
Trading the gj on a 60 min chart can net you 400 pips plus per trade , so why not wait for the market to ' come to you' rather than trade a bunch of false triggers,. If the trigger is false my long order will never get filled.
1) Look at 5 min , the move down from 200.5 today looks like a bull flag.
2) bull divergence showing up on both MACD and rsi on a 60 min chart.
I am not 100 % sure.... I am going to use the 50 sma on the 60 min as a pivot for now , placing orders 50 pips above the previous 1 hour candle if it breaks thru the moving average and closes above it , or 50 pips below the previous 1 hour candle if it goes down thru the moving average and closes below it.
Last 1 hour candle closed at 200.04 +50 pips=200.54, the entry is to close to the weekly pivot at 200.5 , so I am adjusting the entry to 200.85 (above US session high). The idea of the entries being above the 'trigger' bars is to let the market come to you.
Trading the gj on a 60 min chart can net you 400 pips plus per trade , so why not wait for the market to ' come to you' rather than trade a bunch of false triggers,. If the trigger is false my long order will never get filled.
Blogging daily now at www.volume.zone
- #73,175
- Apr 14, 2008 2:13pm Apr 14, 2008 2:13pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #73,176
- Apr 14, 2008 4:20pm Apr 14, 2008 4:20pm
- Joined Nov 2006 | Status: Trader | 3,112 Posts
Check out the daily GU chart, we might be at the top here
Damn, I'm giving out too much free info here
- #73,177
- Apr 14, 2008 4:23pm Apr 14, 2008 4:23pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
