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

  • #151,841
  • Jan 7, 2009 7:53pm Jan 7, 2009 7:53pm
The 1hr and 4hr TL are holding.. I hope you are trading real small..

There is some PA in London time...



Quoting Petefaders
Small short off 140. due to low volume on this up move, and a higher sell demand bar appeard on 1min. risky.
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  • #151,842
  • Edited 8:21pm Jan 7, 2009 8:09pm | Edited 8:21pm
Quoting rgitt05
The 1hr and 4hr TL are holding.. I hope you are trading real small..

There is some PA in London time...

VOLUME IS KING. End of story.
Why did "they" sell off at 140? I dunno, I don't care. While everyone is watching their longs die, I scalped 20 pips. Longer term buy I do understand right now of course.
  • #151,843
  • Jan 7, 2009 8:12pm Jan 7, 2009 8:12pm
Quoting Petefaders
VOLUME IS KING. End of story.
Why did "they" sell of at 140? I dunno, I don't care. While everyone is watching their longs die, I scalped 20 pips. Longer term buy I do understand right now of course.

what indicator should i use to check volume? or any webpage?

thanks.
  • #151,844
  • Jan 7, 2009 8:21pm Jan 7, 2009 8:21pm
Quoting spathi
what indicator should i use to check volume? or any webpage?

thanks.
Very simple. I'm just using the "Volumes" indicator that comes with mt4. You just have to learn how to apply it right.
  • #151,845
  • Jan 7, 2009 8:29pm Jan 7, 2009 8:29pm
02:06 Massive US Budget Blow-out Double Threat To USD Sydney, January 08: News that the Congressional Budget Office forecast a 1.2 TLN USD budget deficit this fiscal year surprised economists and sent shockwaves through both sides of the political fence. There are a number of press reports in the US press stating that economists and politicians previously in favour of aggressive fiscal spending to support the floundering US economy are now having second thoughts about endorsing a massive stimulus package. Most reports indicate that Congress will definitely agree on a stimulus package, but the timeframe for an agreement might be pushed back to late February at the earliest. Some political analysts feel that after the CBO budget-blow out forecast President-elect Obama might have some difficulty in getting a massive package approved.
This possibility could undermine the USD in two ways. One of the reasons for the recent move down in the EUR/USD has been the notion that the US economy will recover sooner than the EZ economy due to the Fed being more aggressive than the ECB and in great part due to the hope that a massive US stimulus package will get the US economy moving again. Any threat to the later will undermine that view. The US budget is going to blow out no matter how much the eventual package is curbed and the amount of foreign investment needed to fund the gaps might not be forthcoming as Treasury and the Fed print money like it is going out of style. [email protected]
  • #151,846
  • Jan 7, 2009 8:39pm Jan 7, 2009 8:39pm
Quoting Petefaders
Very simple. I'm just using the "Volumes" indicator that comes with mt4. You just have to learn how to apply it right.
how to apply..i only see red n green line some longer n some shorter. how to decipher it. which tf is more reliable?
  • #151,847
  • Jan 7, 2009 9:07pm Jan 7, 2009 9:07pm
Quoting spathi
how to apply..i only see red n green line some longer n some shorter. how to decipher it. which tf is more reliable?
too much to type here..PM me.
  • #151,848
  • Jan 7, 2009 9:19pm Jan 7, 2009 9:19pm
Quoting Petefaders
VOLUME IS KING. End of story.
Why did "they" sell off at 140? I dunno, I don't care. While everyone is watching their longs die, I scalped 20 pips. Longer term buy I do understand right now of course.

Pete there was no vsa sign to short off 140
Blogging daily now at www.volume.zone
  • #151,849
  • Jan 7, 2009 9:35pm Jan 7, 2009 9:35pm
Quoting malcolmb14
Pete there was no vsa sign to short off 140
So, we are now VSA thread.. lol...

and Mal, yes, you were right about 140, and even we could go up to 142 before this beast goes down again..

congrats....!

BTW, I am testing the RSX [mt4], and gives me so far good results.. (thanks)
  • #151,850
  • Jan 7, 2009 9:39pm Jan 7, 2009 9:39pm
Quoting malcolmb14
Pete there was no vsa sign to short off 140
Malcolmb, here's what I saw.
http://i43.tinypic.com/2801bo4.jpg
Declining volume on up move, followed by 2 pin bars then high volume on a red candle. Text book short, no? I had same setup on 1min.
  • #151,851
  • Jan 7, 2009 9:42pm Jan 7, 2009 9:42pm
Quoting mktjong
02:06 Massive US Budget Blow-out Double Threat To USD Sydney, January 08: News that the Congressional Budget Office forecast a 1.2 TLN USD budget deficit this fiscal year surprised economists and sent shockwaves through both sides of the political fence. There are a number of press reports in the US press stating that economists and politicians previously in favour of aggressive fiscal spending to support the floundering US economy are now having second thoughts about endorsing a massive stimulus package. Most reports indicate that Congress will...
The total of US debt including S. Security, Medicare, unfunded programs, etc. is now around 50 trillion. The current stimulus is being driven the same as the last one which could best be characterized as PANIC. Congress is clueless and pathetic in their efforts to prime the pump creating a bottomless pit of debt.
In the short term the dollar may strengthen as the global bad news increases but you would have to think that eventually the US debt will sink the ship with massive dollar devaluation. The question is will other currencies fare any better and if the dollar does tank which currencies will be the ones to ride out the storm?
History is written by the victors.
  • #151,852
  • Jan 7, 2009 10:10pm Jan 7, 2009 10:10pm
Quoting Petefaders
Malcolmb, here's what I saw.
http://i43.tinypic.com/2801bo4.jpg
Declining volume on up move, followed by 2 pin bars then high volume on a red candle. Text book short, no? I had same setup on 1min.
''

volume in asian session is always hard to read ... but there was volume divergence .. and seldom can something keep going up on declining volume.

Ideally at a top you want to see a no demand to upthrust at the top. Just declining volume is not really sufficient.
Blogging daily now at www.volume.zone
  • #151,853
  • Jan 7, 2009 10:27pm Jan 7, 2009 10:27pm
Quoting riz79fx
I Dont See Any Bearish Sign For Gj...there's Is A Bull Flag Formed

STRONG SUPPORT 139.54
Your support got crushed. we heading south.
  • #151,854
  • Jan 7, 2009 10:31pm Jan 7, 2009 10:31pm
Quoting Terminale
Your support got crushed. we heading south.
~30 pips is hardly getting crushed.

IMHO, we are still riding the LTL and will get out if she breaks down convincingly.

B
  • #151,855
  • Jan 7, 2009 10:35pm Jan 7, 2009 10:35pm
Quoting bigcoupe
~30 pips is hardly getting crushed.

IMHO, we are still riding the LTL and will get out if she breaks down convincingly.

B
Yep, BUT...

from the top we are testing all 50ema's and ganns.. so now next one on a list is Gann 4H.. [that is the key] and 50 ema [1H]

and you know the rest:

If.... then..... else.....
  • #151,856
  • Jan 7, 2009 10:45pm Jan 7, 2009 10:45pm
Quoting Piters
Yep, BUT...

from the top we are testing all 50ema's and ganns.. so now next one on a list is Gann 4H.. [that is the key] and 50 ema [1H]

and you know the rest:

If.... then..... else.....
I agree it can make it that low. I'm buying however because of the nice and pretty bull flag.

B
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  • #151,857
  • Jan 7, 2009 11:11pm Jan 7, 2009 11:11pm
Quoting bigcoupe
I agree it can make it that low. I'm buying however because of the nice and pretty bull flag.

B
I'm still biased towards the downside. These 3 days are especially important to the carries: ADP, Jobless Claims, NFP, BoE official rate. I really have my doubts that GBP can hold itself afloat amidst all the bad news that is about to come into the open.

Quite frankly i also wouldn't be surprised if a big UK bank such as Barclays come up with an unexpected massive new writedown.
  • #151,858
  • Jan 7, 2009 11:37pm Jan 7, 2009 11:37pm
Sold off of 139.40. Again, because of higher volume on red candles on 5 min. This lower TL MAY be breaking.
-sorry for all the posts, tell me to shut up.
  • #151,859
  • Jan 7, 2009 11:44pm Jan 7, 2009 11:44pm
Quoting Eulogy
I'm still biased towards the downside. These 3 days are especially important to the carries: ADP, Jobless Claims, NFP, BoE official rate. I really have my doubts that GBP can hold itself afloat amidst all the bad news that is about to come into the open.

Quite frankly i also wouldn't be surprised if a big UK bank such as Barclays come up with an unexpected massive new writedown.

write downs old news ... likely will have minor glitch these days

3 of those news announcements are dollar bearish ... and BOE rate cut already well known so no surprise there...

hopw comes everyone is going on about the BOE rate cut being gbp bearish tomorrow ... geez everyone knows it is coming...only thing is if it is 1 instead of 1.5% .. that might have some impact , other than that it is built into the market

at this point after ADP today a bad NFP will be built into the market by Friday ... so even a worse NFP than expected , but not as bad as expected due to the ADP today may actually cause the market to have an up day
Blogging daily now at www.volume.zone
  • #151,860
  • Jan 7, 2009 11:56pm Jan 7, 2009 11:56pm
Quoting Petefaders
Sold off of 139.40.
bingo! 40 pips. I am owning you beast, lol.
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