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

  • #117,001
  • Sep 24, 2008 9:06am Sep 24, 2008 9:06am
Quoting mike w
Depending on this hourly close, I am doing the same and placing a few short orders for a short term profit.
hi mike,
it's nice to see you bro.
  • #117,002
  • Sep 24, 2008 9:13am Sep 24, 2008 9:13am
at 195.19 i will stoped out.
i hope not
''Art is making something out of nothing and selling it'' Frank Zappa
  • #117,003
  • Sep 24, 2008 9:15am Sep 24, 2008 9:15am
this is a congestion area.
take a look at the bigger picture. what do you see?
i see price bouncing up from 5sma daily (yellow), and the red trend line is intact. also, h4 chart doesn't show clearly a regular bearish divergence, so my guess is we'll see more to the upside before a retracement to 191 area.
a break of the trend line will invalidate this view. which means, price below 195.20. until then, i am buying all dips.

Quoting pkimnyc
hi guys,

can anyone recognize if this is bear flag?
i also see little bearish divergence on this chart.
thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: g-jh4.gif Size: 24 KB
Nihil Sine Deo.
  • #117,004
  • Sep 24, 2008 9:19am Sep 24, 2008 9:19am
Quoting TraderStar
hey malcomb, you weren't here earlier but I am curious what you take would have been on that move up after London opening. By the time I arrived it was 11 am London time and I saw that long consolidation on the 5 and 15', I just did not see it going higher. Luckily I got short. I also used the RSI on the 5 and 15 minute which was headed steadily down. Would you have gone short after that b/o and consolidation?

you did an awesome job on that trade ..... really awesome .

1) you did not fall for the faker breakout
2) you spotted the rsi divergence and shorted it ...


that was a really good trade ... and now you are beginning to understand why I love that rsi so much
Blogging daily now at www.volume.zone
  • #117,005
  • Sep 24, 2008 9:21am Sep 24, 2008 9:21am
Quoting mktjong
Today is a buy dips market .. :-)

lol ... I am selling the rallies. ...still as long as you making the green pips , that is all that counts
Blogging daily now at www.volume.zone
  • #117,006
  • Sep 24, 2008 9:21am Sep 24, 2008 9:21am
Quoting Scrat
this is a congestion area.
take a look at the bigger picture. what do you see?
i see price bouncing up from 5sma daily (yellow), and the red trend line is intact. also, h4 chart doesn't show clearly a regular bearish divergence, so my guess is we'll see more to the upside before a retracement to 191 area.
a break of the trend line will invalidate this view. which means, price below 195.20. until then, i am buying all dips.
thanks scrat.
  • #117,007
  • Sep 24, 2008 9:51am Sep 24, 2008 9:51am
Quoting malcolmb14
lol ... I am selling the rallies. ...still as long as you making the green pips , that is all that counts
yeah .. treasuries are very bearish ..
One thing that am concern about is, in the last minutes before equities market close, a bullish bomb like news coming out of nowhere and rallies 200 pips, wipe off all shorts ..

j/k
  • #117,008
  • Sep 24, 2008 9:58am Sep 24, 2008 9:58am
Quoting malcolmb14
lol ... I am selling the rallies. ...still as long as you making the green pips , that is all that counts
Hey, for once we're on the same side LOL
That RSI indicator is a good one ... really helps confirmation of direction.
  • #117,009
  • Sep 24, 2008 10:05am Sep 24, 2008 10:05am
Quoting TraderStar
Hey, for once we're on the same side LOL
That RSI indicator is a good one ... really helps confirmation of direction.

did you see my post on your trade last night? It was an awesome trade ....

if you like RSI read John Haydens ' the complete rsi'

http://stockcharts.stores.yahoo.net/rsicogujoha.html

very good book ......
Blogging daily now at www.volume.zone
  • #117,010
  • Sep 24, 2008 10:06am Sep 24, 2008 10:06am
on days like this I am glad i trade futures ..... that way I have an option and will always find something interesting to trade

today i was trading oil
Blogging daily now at www.volume.zone
  • #117,011
  • Sep 24, 2008 10:11am Sep 24, 2008 10:11am
Quoting malcolmb14
on days like this I am glad i trade futures ..... that way I have an option and will always find something interesting to trade

today i was trading oil
My platform neither have oil nor gold
  • #117,012
  • Sep 24, 2008 10:14am Sep 24, 2008 10:14am
Quoting mktjong
My platform neither have oil nor gold

fxpro trades both ....

I use infinity futures for futres trading .. they are ok , but there are loads of good brokers

spread on YM is only 1 pip ... right now it is a tasty 70 pip channel
Blogging daily now at www.volume.zone
  • #117,013
  • Sep 24, 2008 10:17am Sep 24, 2008 10:17am
Quoting malcolmb14
fxpro trades both ....

I use infinity futures for futres trading .. they are ok , but there are loads of good brokers

spread on YM is only 1 pip ... right now it is a tasty 70 pip channel
What is their website link? Thanks much.
  • #117,014
  • Sep 24, 2008 10:18am Sep 24, 2008 10:18am
Quoting malcolmb14
fxpro trades both ....

I use infinity futures for futres trading .. they are ok , but there are loads of good brokers

spread on YM is only 1 pip ... right now it is a tasty 70 pip channel
I know WHC broker has everything but am skeptical of using it .. just use its chart :-)
  • #117,015
  • Sep 24, 2008 10:20am Sep 24, 2008 10:20am
It looks like it's preparing to shoot up :-)
  • #117,016
  • Sep 24, 2008 10:26am Sep 24, 2008 10:26am
gj has turnedd to buy the dips 196.20 to 196.50 range right now

196.20 fails we go back to 195.90
Blogging daily now at www.volume.zone
  • #117,017
  • Sep 24, 2008 10:29am Sep 24, 2008 10:29am
Quoting malcolmb14
gj has turnedd to buy the dips 196.20 to 196.50 range right now

196.20 fails we go back to 195.90


well ... here is 5 min chart with rsi .

we had bullish div on double bottom ..... and the rsi has been in an uptrend ever since. Until that uptrend on the rsi is broken I will be buying dips on a 5 min chart , taking 30 pips a trade....

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 21 KB
Blogging daily now at www.volume.zone
  • #117,018
  • Sep 24, 2008 10:31am Sep 24, 2008 10:31am
Quoting malcolmb14
gj has turnedd to buy the dips 196.20 to 196.50 range right now

196.20 fails we go back to 195.90
I would think that the range will end up a bit higher than 196.50 although your definitely right about 196.20. Just watching this, I haven't seen it able to close below 196.10 yet.
I dream, therefore I become.
  • #117,019
  • Sep 24, 2008 10:33am Sep 24, 2008 10:33am
Quoting malcolmb14
did you see my post on your trade last night? It was an awesome trade ....

if you like RSI read John Haydens ' the complete rsi'

http://stockcharts.stores.yahoo.net/rsicogujoha.html

very good book ......
Yes I saw that, thanks I was happy with it.
I'll check out the book.
  • #117,020
  • Sep 24, 2008 10:34am Sep 24, 2008 10:34am
Quoting malcolmb14
well ... here is 5 min chart with rsi .

we had bullish div on double bottom ..... and the rsi has been in an uptrend ever since. Until that uptrend on the rsi is broken I will be buying dips on a 5 min chart , taking 30 pips a trade....

Attachment
Thanks for the chart Malcolm. I'm about to go through all of your posts and see what I can learn from your experience with shorter term trading. It would definitely compliment my longer term style as I'm always here anyways.
I dream, therefore I become.
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