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

  • #122,161
  • Oct 14, 2008 10:29am Oct 14, 2008 10:29am
Quoting karmostaji
I wanna scalp but look at that 5m chart for the past hour or so, 1 red candle 1 green 1 red 1 green

I can't scalp crap like that lol
I was hoping to see at leaste 178.20 the 30 min 50 and then relook from there but who knows this for sure a manipulated currency right here as dow goes up and down 150 points while gj sits
Price does what price wants , I just need to be prepared.
  • #122,162
  • Oct 14, 2008 10:29am Oct 14, 2008 10:29am
just come home from work...uhhh....what a desaster, I now understand,
why hussin trade without SL.

IŽll quick add some long, big chance
  • #122,163
  • Oct 14, 2008 10:40am Oct 14, 2008 10:40am
Lilmoe what you in short or long...
Price does what price wants , I just need to be prepared.
  • #122,164
  • Oct 14, 2008 10:49am Oct 14, 2008 10:49am
Quoting peaches
just come home from work...uhhh....what a desaster, I now understand,
why hussin trade without SL.

IŽll quick add some long, big chance
u're not serious right? do u like DDs?
  • #122,165
  • Oct 14, 2008 10:52am Oct 14, 2008 10:52am
Quoting lilmoe
u're not serious right? do u like DDs?
he could be right, I see the same thing unless 4h QQE reverses down and we get a 4h candle close below 4h gann.

edit- use a stop-loss LOL
Trade what you see, not what you think.
  • #122,166
  • Oct 14, 2008 10:52am Oct 14, 2008 10:52am
Quoting PJkiller
Lilmoe what you in short or long...
short from 179.50.... and scalping 1m chart...
  • #122,167
  • Oct 14, 2008 11:00am Oct 14, 2008 11:00am
1h close below gan, bear candle, qqe crossed and curving down. If I were short I would stay short, but I am just observing for now...
  • #122,168
  • Oct 14, 2008 11:08am Oct 14, 2008 11:08am
target reached out of shorts now
Price does what price wants , I just need to be prepared.
  • #122,169
  • Oct 14, 2008 11:11am Oct 14, 2008 11:11am
got stopped on earlier and recent longs, no more entries by the end of the day;

unless there's some visible movement in the Dow after lunch break;

market's only goal today is to stay positive and preserve the previous day gains; Paulson's plan didn't impress anyone;
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #122,170
  • Oct 14, 2008 11:14am Oct 14, 2008 11:14am
Quoting lilmoe
short from 179.50.... and scalping 1m chart...
closed half at m30's 50ema...
  • #122,171
  • Oct 14, 2008 11:17am Oct 14, 2008 11:17am
Price will go up. USD/JPY inside a bullish flag. We get 1hr break of the utl and we also get break of 38.2% fib levels break as well that stopped price from going up today. EUR/JPY inside a broadening triangle on 30m/1h, that is also a continuation pattern unless it turns out to be a reversal diamond, but i doubt this one.
  • #122,172
  • Oct 14, 2008 11:23am Oct 14, 2008 11:23am
Quoting iksh
I trade the pinbars mostly and always on the lookout for them.

Good pinbars on daily or 4 Hrly is what i look for . they usually nice. hope u guys noticed how nicely the weekly pin bars on EU and GU played out last week. Were good trades.

Also pinbars on 5 minutes/15 minutes very good for scalping and they usually work. it seems that most traders around the world are also looking out for them or else why would be so much success with those pinbars.

I am very thankful to James16 thread for making out such a distiction of this candlestick out to FF members

Euro has taken such a beating last few weeks and with eoru and UK govt now taking considerable steps ,esp UK, i see a likely bounce in EURO and GBP.

The 4 hour pinbar on firday was on good volume and will liely play out over asain session and london open. will watch asian session before taking position prior to london open.

Attachment

With UK govt taking strong measures to bail out banks and 3 major UK banks coming out to ask for funds tomorrow at london open, i think GBP will bounce up even though fundamentals are poor and its economy reeling. also technically this strong daily pinbar reflcets its possible bounce.

Attachment

GJ went down so much in last 2 months not only becoz of risk aversion but also due to steep fall in GBP. in view of above arguments in favour of gbp and also string daily pinbar on good volume on friday ,likely supports the GBPJPY bounce.

Also watch the weekly channel where is perfectly bounced off the lower trandline.

Again will trade this on london open.

Similar pinbar on EJ.

Attachment

Attachment

Thanks.
I Love the pinbars. they are so reliable for trading, esp on long term ,u rarely go wrong with them ( on 4hr/daily /and weekly esp on majors.)

As in above posts, i took positions on the basis of pinbars and GU,EU, EJ and GJ pinbars worked like charm.

The same pinbars helped me into 3 good trades this afternoon. i was bit sckeptical on taking the trades as it was against the short term trend in the last 2 days. but pinbars proved my sckeptcism worng and i am in green pips now.

Damn why cannot i attach charts now?

anyway pinbars were on 4hour GU/GJ/EU/EJ and usdcad which played out perfectly.

ok charts here ,

Attached Image (click to enlarge)
Click to Enlarge Name: gj 4hrly.gif Size: 17 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gu 4hrly.gif Size: 18 KB


Closed the GJ and GU for now.

Attached Image (click to enlarge)
Click to Enlarge Name: ej 4 hrly.gif Size: 18 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ej 4hrly.gif Size: 21 KB


Attached Image (click to enlarge)
Click to Enlarge Name: uc 1hrly.gif Size: 16 KB






PLz refer to james16 thread for more info on pinbars and how to play them.
  • #122,173
  • Oct 14, 2008 11:36am Oct 14, 2008 11:36am
Long 64
Price does what price wants , I just need to be prepared.
  • #122,174
  • Oct 14, 2008 11:38am Oct 14, 2008 11:38am
Quoting karmostaji
I wanna scalp but look at that 5m chart for the past hour or so, 1 red candle 1 green 1 red 1 green

I can't scalp crap like that lol
me long atlast!!

let's go n retest the highs now
Trade what you see, not what you think.
  • #122,175
  • Oct 14, 2008 11:44am Oct 14, 2008 11:44am
interesting to see, if this bullish continuation pattern will play out in the last 15 minutes of the current 4 h candle


http://www.candlesticker.com/Cs86.asp
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.gif Size: 14 KB
  • #122,176
  • Oct 14, 2008 11:48am Oct 14, 2008 11:48am
Quoting PJkiller
short again 62

Can u stop this nonsence of postng ur trades. we dont want to know if u went short or long or at what price and how much u making.

Plz post if u have any discussion of charts. i dont mind reading ur posts if u explain what made u take those trades and what are u seeing oin ur charts but these post eery 5 minutes about ur scalping are very irritating.

Thanks. Nothing personal.
  • #122,177
  • Edited 12:06pm Oct 14, 2008 11:52am | Edited 12:06pm
The 1hr TF may form H & S formation..

There is no significant news today..

DJ will probably rally from 2pm news and GJ retrace until the 180 area and DROP ...

You be the judge!!

Attached Image (click to enlarge)
Click to Enlarge Name: 1 hr chart.gif Size: 57 KB
[
  • #122,178
  • Oct 14, 2008 12:00pm Oct 14, 2008 12:00pm
here is 5 min chart

it is not long till the 33 sma ( blue line ) is broken .. it is short the rallies

tried going long today x 2 .. stopped out -75 for day and gave up forex for today .. traded only oil and ym ..

30 min is under the T3 trend indicator and the 33 sma ... and as long as 179 hold down side targets 177.63 and 175.30 remain

short on the spike to test 179 was a nice trade .. did not take it .... trading futures today as got rear end kicked in forex today

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gj30.gif Size: 16 KB
Blogging daily now at www.volume.zone
  • #122,179
  • Oct 14, 2008 12:06pm Oct 14, 2008 12:06pm
Quoting karmostaji
me long atlast!!

let's go n retest the highs now
Hi Karmo,
Can kindly explain why you long GJ? I saw qqe crossed down and candle below gann on 5m, 15m, and 1h.
Trying to learn here...
Lost...
  • #122,180
  • Oct 14, 2008 12:11pm Oct 14, 2008 12:11pm
Quoting worlhin
Hi Karmo,
Can kindly explain why you long GJ? I saw qqe crossed down and candle below gann on 5m, 15m, and 1h.
Trying to learn here...
got stopped out on that long, i don't like this kind of PA

i'll be back at london open, ltr all
Trade what you see, not what you think.
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