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

  • #142,781
  • Nov 25, 2008 12:30pm Nov 25, 2008 12:30pm
Quoting capetown
In some moments I am confused..oil is going down, GU up, GJ up, I know it used to be a correlation between oil and GU, but today it is different. Does anyone know why??
Up move is profit taking for bears ... may be.
Discipline + Patience - Fear - Greed = Success
  • #142,782
  • Nov 25, 2008 12:32pm Nov 25, 2008 12:32pm
Quoting malcolmb14
word of caution

gj is at exact spot it was this time yesterday before 400 pip drop ..

they may push it up a touch to trap the bulls..... but i am expecting a retracement in asia as seems normal these days
malcolmb do you see what is happening with GU on H1? very low volume and still rising. Can this be a sign of GU preparing for a big retrace?

It seems to me it's loosing steam ...

please enlighten me about that.
Discipline + Patience - Fear - Greed = Success
  • #142,783
  • Nov 25, 2008 12:36pm Nov 25, 2008 12:36pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting arezab
malcolmb do you see what is happening with GU on H1? very low volume and still rising. Can this be a sign of GU preparing for a big retrace?

It seems to me it's loosing steam ...

please enlighten me about that.

There's definitely a sweet divergence building too on 5 min. Trying to figure out when to short it...lol.
Attached Image (click to enlarge)
Click to Enlarge Name: nov 25 5 min.jpg Size: 148 KB
"Wishful thinking dies hard." Igor T.
  • #142,784
  • Nov 25, 2008 12:38pm Nov 25, 2008 12:38pm
sorry but I dont see it. Everything I see shows it going up, up and up
  • #142,785
  • Nov 25, 2008 12:38pm Nov 25, 2008 12:38pm
Quoting arezab
malcolmb do you see what is happening with GU on H1? very low volume and still rising. Can this be a sign of GU preparing for a big retrace?

It seems to me it's loosing steam ...

please enlighten me about that.


declining volume all the way up on the 60 min

this could be a bearish sign that pros are not buying in the move up and one owuld look for any sign of reversal on 60 min , also of not is the rsi is getitng very over bought

I would be starting to think about locking in profits and looking for short on this one on a lower time frame such as 15 min
Blogging daily now at www.volume.zone
  • #142,786
  • Nov 25, 2008 12:40pm Nov 25, 2008 12:40pm
Quoting FxChi
There's definitely a sweet divergence building too on 5 min. Trying to figure out when to short it...lol.
yep I see ...
Discipline + Patience - Fear - Greed = Success
  • #142,787
  • Nov 25, 2008 12:41pm Nov 25, 2008 12:41pm
Quoting malcolmb14
declining volume all the way up on the 60 min

this could be a bearish sign that pros are not buying in the move up and one owuld look for any sign of reversal on 60 min , also of not is the rsi is getitng very over bought

I would be starting to think about locking in profits and looking for short on this one on a lower time frame such as 15 min

In an ideal world we would be looking for an up bar on a 15 min chart , with very low volume , this is called a no demand bar and a sure sign that a tpo is in . however with asia coming up volume spread analysis does not really work .
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  • #142,788
  • Nov 25, 2008 12:43pm Nov 25, 2008 12:43pm
gj 60 min 2 bearish signs

1) bearish div rsi
2) volume divergence to price

3) asia likes to reatrace US move

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 19 KB
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  • #142,789
  • Nov 25, 2008 12:44pm Nov 25, 2008 12:44pm
Quoting malcolmb14
declining volume all the way up on the 60 min

this could be a bearish sign that pros are not buying in the move up and one owuld look for any sign of reversal on 60 min , also of not is the rsi is getitng very over bought

I would be starting to think about locking in profits and looking for short on this one on a lower time frame such as 15 min
Thanks

Me too ... This is the case for GJ too if you take a look. Although my vol is not as precise as yours coz it's broker's vol but I think in general view a declining vol is a declining vol and somehow reliable on longer TF's.

right?
Discipline + Patience - Fear - Greed = Success
  • #142,790
  • Nov 25, 2008 12:45pm Nov 25, 2008 12:45pm
I'm not convinced with this break out. Plus we got a decent retracement with the USD, time for gj to drop again.

Short taken.
What's that smell?
  • #142,791
  • Nov 25, 2008 12:47pm Nov 25, 2008 12:47pm
Quoting arezab
Thanks

Me too ... This is the case for GJ too if you take a look. Although my vol is not as precise as yours coz it's broker's vol but I think in general view a declining vol is a declining vol and somehow reliable on longer TF's.

right?

right ....

it still holds
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  • #142,792
  • Nov 25, 2008 12:49pm Nov 25, 2008 12:49pm
Quoting malcolmb14
gj 60 min 2 bearish signs

1) bearish div rsi
2) volume divergence to price

3) asia likes to reatrace US move

Attachment
I understand, but even yesterday we never saw much from Asia. retrace or other. I just see this beast teasing right now, giving signs of Bearish intention but doing the oposite
  • #142,793
  • Nov 25, 2008 12:49pm Nov 25, 2008 12:49pm
on 15M chart I have divergence on GJ..but this GJ is something today hard to trade
  • #142,794
  • Nov 25, 2008 12:50pm Nov 25, 2008 12:50pm
Quoting plrbear
I understand, but even yesterday we never saw much from Asia. retrace or other. I just see this beast teasing right now, giving signs of Bearish intention but doing the oposite
300 pips nothing ? ...lol .....that was the retrace in Asia yesterday . We used to get that movement in a month back in the days ....
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  • #142,795
  • Nov 25, 2008 12:53pm Nov 25, 2008 12:53pm
Quoting jon clogger
I'm not convinced with this break out. Plus we got a decent retracement with the USD, time for gj to drop again.

Short taken.

you may be a little early . i have noticed they like to spike the beast for another hour after US market ..... they did that Thursday on the downside , last night to upside and they may do it again tonight
Blogging daily now at www.volume.zone
  • #142,796
  • Nov 25, 2008 12:55pm Nov 25, 2008 12:55pm
another lesson TYou!!!!
Quoting malcolmb14
you may be a little early . i have noticed they like to spike the beast for another hour after US market ..... they did that Thursday on the downside , last night to upside and they may do it again tonight
  • #142,797
  • Nov 25, 2008 12:55pm Nov 25, 2008 12:55pm
Quoting malcolmb14
300 pips nothing ? ...lol .....that was the retrace in Asia yesterday . We used to get that movement in a month back in the days ....
ok ok you win lol. I guess your right. I just got spoiled with the bigger moves last month
  • #142,798
  • Nov 25, 2008 12:58pm Nov 25, 2008 12:58pm
a falling volume near a trendline or S/R:

no.

nobody wants to break this trendline or S/R.

I have read parts of a book
Attached Image (click to enlarge)
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  • #142,799
  • Nov 25, 2008 12:58pm Nov 25, 2008 12:58pm
Quoting malcolmb14
you may be a little early . i have noticed they like to spike the beast for another hour after US market ..... they did that Thursday on the downside , last night to upside and they may do it again tonight
Agreed, possible, but looking at the dollar index I saw a fib support level reached, and shorted gj at 148.46.

Stops already be on risky move though.
What's that smell?
  • #142,800
  • Nov 25, 2008 1:00pm Nov 25, 2008 1:00pm
Quoting capetown
another lesson TYou!!!!

I took short also at 148.40 , closed on 23 % fib retrace 147.80

I will wait and see what they do after market closes

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 22 KB
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