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

  • #143,521
  • Nov 26, 2008 2:46pm Nov 26, 2008 2:46pm
Quoting Piters
Lool, Volume is lower and lower, and price Higher and higher.. Even some resistance levels are broken... Holidays .. or something else ??
cut me some slack!! i'm trying to get my share
  • #143,522
  • Nov 26, 2008 2:47pm Nov 26, 2008 2:47pm
Quoting Crispin
I'm done guys, green pips even in this mess today

Stuck in the office for next 2 days, so limited trading.

Good luck all
take care
  • #143,523
  • Nov 26, 2008 2:51pm Nov 26, 2008 2:51pm
Quoting lilmoe
i'd love to see 148 taken out first...

next is 150 - 154 - 157 - 160

I am still not over confident in this 60 min pattern and only made 4 trades today . I still have my swing trade long on from 139 but have moved stop up to protect profit. I hope that gj gets pushed to 151 in the coming 2 sessions when there is low liquidity. However the 4 hour RSI resistance line has not been broken and now we need to see a break out of the top of the head and shoulders pattern on the 60 min .

Today formed a strong NO demand bar on the YM daily, this is a sign of weakness. .. expect the market to drop starting next week

right now i am taking one trade at a time and look at GU and Uj charts for gj direction on the 3 min . If i get 250 pips per session on a consistant basis I am over the moon . This morning I did that in 4 hrs and have not revisited the markets since.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 20 KB
Blogging daily now at www.volume.zone
  • #143,524
  • Nov 26, 2008 3:00pm Nov 26, 2008 3:00pm
This is really crazy .. what a move. I over traded again .. never have a discipline. Gave back about 30% of earlier made ..
I always remember Malcolmb said that "Never over trade" .. I guess I need a reminder everyday .. lol ..
  • #143,525
  • Nov 26, 2008 3:00pm Nov 26, 2008 3:00pm
just came home..u kuci...and FE worked unbelievable on EURCAD
Quoting Piters
Ok, is it a last half hour of the market?
we should see some Profit taking before holiday ??

c'moon guys, take your money and go HOME

  • #143,526
  • Nov 26, 2008 3:03pm Nov 26, 2008 3:03pm
Anyone short now? .. lol
  • #143,527
  • Nov 26, 2008 3:07pm Nov 26, 2008 3:07pm
Quoting Eulogy
and the dow is riding on the coattails of an expected bailout for GM, Ford and chrysler. Seems these days investors are thinking it is their god given right for a federal bailout. What will happen if they don't get it?

the questions is what will happen when they do get it ?

either way the market is doomed and 9000 or even 9500 maybe the turning point for the next bear leg down
Blogging daily now at www.volume.zone
  • #143,528
  • Nov 26, 2008 3:09pm Nov 26, 2008 3:09pm
Quoting mktjong
Anyone short now? .. lol
I'm still short, but under water now. LOL!

Average 145.44
  • #143,529
  • Nov 26, 2008 3:09pm Nov 26, 2008 3:09pm
More money needs to be enticed into the market before the big fall
  • #143,530
  • Nov 26, 2008 3:09pm Nov 26, 2008 3:09pm
Quoting mktjong
This is really crazy .. what a move. I over traded again .. never have a discipline. Gave back about 30% of earlier made ..
I always remember Malcolmb said that "Never over trade" .. I guess I need a reminder everyday .. lol ..

put it this way .... 4 hrs today and 2 hrs in asia yesterday ...500 pips in bank . .... 7 trades , 100 % profitable

by not over trading you can also focus better .... the more time you spend in the market the less focus you have
Blogging daily now at www.volume.zone
  • #143,531
  • Nov 26, 2008 3:11pm Nov 26, 2008 3:11pm
Quoting malcolmb14
put it this way .... 4 hrs today and 2 hrs in asia yesterday ...500 pips in bank . .... 7 trades , 100 % profitable

by not over trading you can also focus better .... the more time you spend in the market the less focus you have
patience + discipline = money
  • #143,532
  • Nov 26, 2008 3:12pm Nov 26, 2008 3:12pm
Quoting malcolmb14
the questions is what will happen when they do get it ?

either way the market is doomed and 9000 or even 9500 maybe the turning point for the next bear leg down
i hear that.

so can we expect the usual reversal during asia?
"Don't trade to trade . . . trade to win." - James16
  • #143,533
  • Nov 26, 2008 3:15pm Nov 26, 2008 3:15pm
Not on g/j but on e/j and nothing change yet to talk market rally, it pre holiday staff fundamentally and on the charts I don't see yet turn to bulls, so watch it bulls let's see what will be next
  • #143,534
  • Nov 26, 2008 3:16pm Nov 26, 2008 3:16pm
Quoting Flem26
i hear that.

so can we expect the usual reversal during asia?

maybe .. 146.50 is the key as this formihng strong resistance this morning and is now support .. break below this could be good short into 145 . This seems to be the range for now
Blogging daily now at www.volume.zone
  • #143,535
  • Nov 26, 2008 3:18pm Nov 26, 2008 3:18pm
Quoting malcolmb14
put it this way .... 4 hrs today and 2 hrs in asia yesterday ...500 pips in bank . .... 7 trades , 100 % profitable

by not over trading you can also focus better .... the more time you spend in the market the less focus you have
Agree .. I need focus now .. lol..
It seems I always want to be in a trade .. it is kinda addition. Really need a wisdom to manage my time now ..
Yes, we can change .. yes, I can change .. the change you can believe in .. LOL
  • #143,536
  • Nov 26, 2008 3:19pm Nov 26, 2008 3:19pm
I'm short from 147.19
  • #143,537
  • Nov 26, 2008 3:21pm Nov 26, 2008 3:21pm
Quoting sofia101
Not on g/j but on e/j and nothing change yet to talk market rally, it pre holiday staff fundamentally and on the charts I don't see yet turn to bulls, so watch it bulls let's see what will be next

sofia

I hear you .. the charts do look bearish BUT the thing is the pros want to load up on sells for the next bear wave down sub 139 , that inevitably is coming in the days / weeks ahead.

I think they would like to get the jpy pairs at discount and maybe there will be some form of impulse rally above resistance right now.

This could be as much as 300 - 500 pips , and they will use the low liquidity in the markets in the next couple of days to do it , if it is going to happen.

I still have a long position of 139 , with stop moved to +400 in case htis happens and other than that day trading the 3 min chart
Blogging daily now at www.volume.zone
  • #143,538
  • Nov 26, 2008 3:21pm Nov 26, 2008 3:21pm
Quoting rdtsa09
I'm short from 147.19
you are brave.
  • #143,539
  • Nov 26, 2008 3:22pm Nov 26, 2008 3:22pm
what is your expectation for tommorrow, malcolmb , quiet??
Turkey day...big holiday in US...
Quoting malcolmb14
put it this way .... 4 hrs today and 2 hrs in asia yesterday ...500 pips in bank . .... 7 trades , 100 % profitable

by not over trading you can also focus better .... the more time you spend in the market the less focus you have
  • #143,540
  • Nov 26, 2008 3:23pm Nov 26, 2008 3:23pm
I'm done.
Made some nice green pips this week, hope everyone else did also.
I'll be watching on the sideline for the rest of the week.
U.S. closed tommorrow for Turkey Day.
I trade what I see on my charts. Do Not listen to the Muppets.
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