i dont know how u guys jump in long when there is this obvious Daily bearish continuation candle stick (the one circled)
Attached Image (click to enlarge)
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #109,802
- Sep 2, 2008 4:20pm Sep 2, 2008 4:20pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #109,803
- Sep 2, 2008 4:22pm Sep 2, 2008 4:22pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #109,804
- Sep 2, 2008 4:25pm Sep 2, 2008 4:25pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
I will stay in the long trade unless the ascending triangle is broken on the 60min TF and 240 min TF..
There is news at 7:01 pm from GBP before the overall trend is determine..
Daily candle can close higher than 192.60 which is a strong support on the Daily and weekly chart..
Look over the past posting..
You be the judge...
Anyway, I am only giving you my opinion...No one know the market 100%..
Trade what you see...
http://www.forexfactory.com/showpost...stcount=109805
There is news at 7:01 pm from GBP before the overall trend is determine..
Daily candle can close higher than 192.60 which is a strong support on the Daily and weekly chart..
Look over the past posting..
You be the judge...
Anyway, I am only giving you my opinion...No one know the market 100%..
Trade what you see...
http://www.forexfactory.com/showpost...stcount=109805
i dont know how u guys jump in long when there is this obvious Daily bearish continuation candle stick (the one circled)
[
- #109,806
- Sep 2, 2008 4:31pm Sep 2, 2008 4:31pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
stop trying to pick on bottoms fellas... if a bottom worked for ya by chance just take the profit and run... otherwise sell rallies. even if a bottom was picked it will be retested and ur shorts will make money.
cable doesn't seem to have a bottom yet, neither does UJ...
so please for crying out loud.... GO WITH THE DARN TREND!!!
if u have shorts from tops, keep em! if u're not short wait for a rally to short the crap out of it
when cable does finally find a bottom we still have UJ for a good Tanking. and GJ for some "reason" will follow whichever pair tanking.
again and again and again: SELL RALLIES; the simplest and most profitable strategy on the market ATM.
i have a CCI TL about to be broken sooner or later, and guess what, when it is, i'm adding more shorts even if we're at the lows!
good luck bottom pickers!
cable doesn't seem to have a bottom yet, neither does UJ...
so please for crying out loud.... GO WITH THE DARN TREND!!!
if u have shorts from tops, keep em! if u're not short wait for a rally to short the crap out of it
when cable does finally find a bottom we still have UJ for a good Tanking. and GJ for some "reason" will follow whichever pair tanking.
again and again and again: SELL RALLIES; the simplest and most profitable strategy on the market ATM.
i have a CCI TL about to be broken sooner or later, and guess what, when it is, i'm adding more shorts even if we're at the lows!
good luck bottom pickers!
- #109,807
- Sep 2, 2008 4:34pm Sep 2, 2008 4:34pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
stop trying to pick on bottoms fellas... if a bottom worked for ya by chance just take the profit and run... otherwise sell rallies. even if a bottom was picked it will be retested and ur shorts will make money.
cable doesn't seem to have a bottom yet, neither does UJ...
so please for crying out loud.... GO WITH THE DARN TREND!!!
if u have shorts from tops, keep em! if u're not short wait for a rally to short the crap out of it
when cable does finally find a bottom we still have UJ for a good Tanking. and GJ for some "reason" will follow whichever pair tanking.
again and again and again: SELL RALLIES; the simplest and most profitable strategy on the market ATM.
i have a CCI TL about to be broken sooner or later, and guess what, when it is, i'm adding more shorts even if we're at the lows!
good luck bottom pickers!
- #109,808
- Sep 2, 2008 4:38pm Sep 2, 2008 4:38pm
stop trying to pick on bottoms fellas... if a bottom worked for ya by chance just take the profit and run... otherwise sell rallies. even if a bottom was picked it will be retested and ur shorts will make money.
cable doesn't seem to have a bottom yet, neither does UJ...
so please for crying out loud.... GO WITH THE DARN TREND!!!
if u have shorts from tops, keep em! if u're not short wait for a rally to short the crap out of it
when cable does finally find a bottom we still have UJ for a good Tanking. and GJ for some "reason" will follow whichever pair tanking.
again and again and again: SELL RALLIES; the simplest and most profitable strategy on the market ATM.
i have a CCI TL about to be broken sooner or later, and guess what, when it is, i'm adding more shorts even if we're at the lows!
good luck bottom pickers!
Price does what price wants , I just need to be prepared.
- #109,810
- Sep 2, 2008 4:43pm Sep 2, 2008 4:43pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Who is the moderator of this board to tell what we can say on this board..?
This is a public forum..
I post what I think is a good setup or strategy with charts and not opinions...
It works for me...I am making a killing doing it
This is a public forum..
I post what I think is a good setup or strategy with charts and not opinions...
It works for me...I am making a killing doing it
[
- #109,811
- Sep 2, 2008 4:49pm Sep 2, 2008 4:49pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
stop trying to pick on bottoms fellas... if a bottom worked for ya by chance just take the profit and run... otherwise sell rallies. even if a bottom was picked it will be retested and ur shorts will make money.
cable doesn't seem to have a bottom yet, neither does UJ...
so please for crying out loud.... GO WITH THE DARN TREND!!!
if u have shorts from tops, keep em! if u're not short wait for a rally to short the crap out of it
when cable does finally find a bottom we still have UJ for a good Tanking. and GJ for some "reason" will follow whichever pair tanking.
again and again and again: SELL RALLIES; the simplest and most profitable strategy on the market ATM.
i have a CCI TL about to be broken sooner or later, and guess what, when it is, i'm adding more shorts even if we're at the lows!
good luck bottom pickers!
nothing works by chance .... it is all planed.... again depends what time frame you are trading on....
made some good pips up and some good pips down.....
In fact plan on going long above 194 if we break that level in Asian
but those wishing to swing trade ... mmm .. may be we do reach 175 but i would like to see a 300 pip reatracement before we go down there as NOTHING goes down for ever and in actual fact there is a slight BULLISH divergence starting to form on the weekly and i will be watching how this plays out during the course of this week.... not to say this will go up , but at this point till we have a solid closing under 193 I would not be taking new shorts on a swing trade either. We have moved 2400 pips with NO retracement yet.
Blogging daily now at www.volume.zone
- #109,812
- Sep 2, 2008 4:50pm Sep 2, 2008 4:50pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #109,813
- Sep 2, 2008 4:54pm Sep 2, 2008 4:54pm
CCI is an indicator made for commodities ...
I used to use it all the time but found RSI to be much better .
- #109,814
- Sep 2, 2008 4:57pm Sep 2, 2008 4:57pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
You are correct about what TF....Different TF's have different setups...
There is many opportunities to make money depending on your risk and patiences..
I prefer higher TF to get an overall view what the GJ may do for the future..
I plan my trades and trade them..
It's easier to trade higher TF but requires more patiences..
There is many opportunities to make money depending on your risk and patiences..
I prefer higher TF to get an overall view what the GJ may do for the future..
I plan my trades and trade them..
It's easier to trade higher TF but requires more patiences..
nothing works by chance .... it is all planed.... again depends what time frame you are trading on....
made some good pips up and some good pips down.....
In fact plan on going long above 194 if we break that level in Asian
but those wishing to swing trade ... mmm .. may be we do reach 175 but i would like to see a 300 pip reatracement before we go down there as NOTHING goes down for ever and in actual fact there is a slight BULLISH divergence starting to form on the weekly and i will be watching how this plays out during the course of this week.... not to say this will go up , but at this point till we have a solid closing under 193 I would not be taking new shorts on a swing trade either. We have moved 2400 pips with NO retracement yet.
[
- #109,815
- Sep 2, 2008 4:57pm Sep 2, 2008 4:57pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Thanks for your quick reply. Now I have to learn how to use RSI.
a little dry at first but read it over and over .... it is amazing. I often spot patterns in the indicator i cannot see in the charts....
Blogging daily now at www.volume.zone
- #109,817
- Sep 2, 2008 5:14pm Sep 2, 2008 5:14pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
I plan my trades and not make guesses...
Plan your trades and trade them..
Higher TF gives better overall of the trend...
Here is a example of a plan...
Keep it simple...
Plan your trades and trade them..
Higher TF gives better overall of the trend...
Here is a example of a plan...
Keep it simple...
[
- #109,818
- Sep 2, 2008 5:15pm Sep 2, 2008 5:15pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Why are you guys just trading on mere guesses?the charts are there not to make you laugh but for you to study them.The daily trend for the gbp/jpy is down so no matter the 90pip up, 30pip down movement,provided the down trend still holds, it going to go down.
Dont trade as though you are guessing. it is true nobody know the forex market very well but we should not end up confussing ourselves with hunches
happy trading ya all...i think the consumer confidence ll fall because of the bad gbp data and the fact that the news today said that the economy is headin to a reccession
you said no guessing ....
lol..... there are a million ways to skin a cat. Yes the overall long term trend is down .... we could even have a 500 pip retracement and the trend is still down.
I am a day trader you sound like a swing trader ... we think differently.
Whatever made you get into the trade on the longer term time frames can be used on smaller ones.
I use a 33 sma on a 10 min when price and rsi going up and above that it is a long and when price comes through it and rsi is heading down it is a short..... somewhat simple but seems to work ok. Oh i watch tick volume also and 30 pip lines from the daily pivot for trading 'zones' and use fib extensions...
Put it this way if we break 194.14 again tonight we could see nice little 100 pip move into 195 plus zone and the 1-2-3 buy formation that I have on a 15 min chart right now may well yield a few pips to the upside.
Now if 193.20 is broken then the 1-2-3 buy formation is no longer valid and we will likely go down to test low of day
We now have three higher lows on a 15 min chart = uptrend ...lol
Blogging daily now at www.volume.zone
- #109,819
- Sep 2, 2008 5:30pm Sep 2, 2008 5:30pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
I made over 700 pips from this setup in 5 days..
Plan you trades...
I know the 192.60 was a strong support because I looked at the higher TF..
The higher TF showed a strong bearish trend...
I made more pips with 60min TF than lower TF.
Lower TF sometimes makes less pips and more loses..
Keep it simple...
Plan you trades...
I know the 192.60 was a strong support because I looked at the higher TF..
The higher TF showed a strong bearish trend...
I made more pips with 60min TF than lower TF.
Lower TF sometimes makes less pips and more loses..
Keep it simple...
[
- #109,820
- Sep 2, 2008 6:01pm Sep 2, 2008 6:01pm
I made over 700 pips from this setup in 5 days..
Plan you trades...
I know the 192.60 was a strong support because I looked at the higher TF..
The higher TF showed a strong bearish trend...
I made more pips with 60min TF than lower TF.
Lower TF sometimes makes less pips and more loses..
Keep it simple...
Price does what price wants , I just need to be prepared.