charts don't move here anymore??? what's happend, is today friday??
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #152,921
- Jan 14, 2009 10:15am Jan 14, 2009 10:15am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
- #152,922
- Jan 14, 2009 10:17am Jan 14, 2009 10:17am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
i wouldnt do that, wait for cable to break below 14500, then go down with her to the bottom, you will see your new gbpjpy price once cable is at the bottom.
i'm fraid your SL@127 might get taken out ...
look at it this way, cable goes up or down, either way, it's going to go far. wait for it to break then go in.
But I do not think it will go down to that level...It may go back to R1=131.74 again as I believe GU will not touch down anymore. Why? It will take some advantages from the weaken of USD....before ECB tomorrow..
Today I lost because I am using SL=100. Need to becarefull later...If am busy I will not trade...Today because am out of focus and busy with a lot of stuff and my carelessness of read the chart. Anyway your advice is higly appreciated and it's totally 100% true...Thanks
- #152,923
- Jan 14, 2009 10:18am Jan 14, 2009 10:18am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
It does move but not much .. maybe due to lunch time .. now they are back I guess ..
- #152,927
- Jan 14, 2009 10:25am Jan 14, 2009 10:25am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I agree 100% with you mate.
S/R as a targets ONLY.. (profit taking there) secure the trade...
BTW, Gann is a statistical value only,, an average of last High and lows... and a very OLD indicator, simillar to FIBOES, a lot of banks and Proffesionals are using, more then any MA...
GANN 10 is SMA[10] - High, and SMA[10]- Low.. that is the Gann channel, the PA always goes between those two lines... it is simple an average of it..
lol piters ... ever worked at a bank ..... ???? how do you know what they use.
I have been traidng for 5 years ... never heard of Gann before I joined this forum .. heard of a 50 period moving average the very 1st day I started trading ...
moving averages are very powerful .... more so then fibs or anything else.
they give a statistical price median .... on 15 min charts plot a 33 and 50 sma and a 14 wma ... The 14 wma would have kept you in the short all the way down from 15000 to 1.4500
I taught my wife how to trade using 50 sma as ap ivot on a 15 min chart . it is all she uses. She did not know anything baout traidng .... she double her account in 3 weeks with good money management .. then grass hopper decided she did not like my money management rules and blew her account in one trade ....
now she is using stricter money management tools
technique
1) plot 50 sma on charts
20 plot lines at 30 pip levels off daily pivot
3) if price crosses 50 sma on 15 min wait for 15 min candle to end.
40 enter under the next 30 pip line or above next 30 pip line ( long or short)
such a simple yest effective technique .... got me into gu short at 1.5100 .
take 30 pip half position move stop to break even as soon as you take half position off
here is how to make 240 pips gu using this simple technique in a choppy market .. trending market once you have 100 pip profit ... set stop to +50 and let her run
Blogging daily now at www.volume.zone
- #152,928
- Edited 10:31am Jan 14, 2009 10:26am | Edited 10:31am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #152,929
- Jan 14, 2009 10:32am Jan 14, 2009 10:32am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
malcolmb, examine PA for cable on 15M
right now indecision ... with sellers off 1.4630. However each dip since the lows has been higher .... this is a bullish sign.
lets see what cooks later .. as stated yesterday bottoms are never simple.
but looking at what is going on with volume 60 min . the inside bar forming on daily futures and the higher lows on dips 15 min I do not think 1.4500 will be breached with ease .
Indicators will be no use to you on a bottom like this .. they are good for trends.
oh and on 15 min i see price moving aournd its 50 sma and DP....a nice 60 pip range that I have been messing with all morning
Blogging daily now at www.volume.zone
- #152,930
- Jan 14, 2009 10:58am Jan 14, 2009 10:58am
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
Discipline + Patience - Fear - Greed = Success
- #152,931
- Jan 14, 2009 11:14am Jan 14, 2009 11:14am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #152,932
- Jan 14, 2009 11:18am Jan 14, 2009 11:18am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
lol piters ... ever worked at a bank ..... ???? how do you know what they use.
lolIam not going to argue with you.. but.. mate:
I.I dont Need to be in the bank to have an information what is going on there... lol
II. Gann indicator is not gann actualy, you can find very simmilar techniques and OLD ones:
1. 10/20 days High/low .. used by turtles
2. price channel
3. Donchian Channel
4. MA High/Low
III. have seen a lot of seminars, and traders using MA high/MA Low.. with 10 or 20.
IV. Personaly I have a very good friends, I can give to you ther phone numbers.. so you can talk with them.. lol
***************************
I am sorry my friend, but if you have an opposite oppinoin, just stated here,
I realy dont know what is behind your reaction..
cheers BRO..
The thread is yours..
- #152,933
- Jan 14, 2009 11:26am Jan 14, 2009 11:26am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #152,935
- Jan 14, 2009 11:27am Jan 14, 2009 11:27am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
- #152,936
- Jan 14, 2009 11:29am Jan 14, 2009 11:29am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
position building mode.
on futures also.
like said earlier, 129.60 still spring and everything is in play.
- #152,937
- Jan 14, 2009 11:33am Jan 14, 2009 11:33am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
I think it's more like position building for short .. they are trying to let all the buy orders dissapear first then big drop is coming ..
- #152,939
- Jan 14, 2009 11:39am Jan 14, 2009 11:39am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
LOL, malc, didnt expect that kind of reaction especialy from you..
Iam not going to argue with you.. but.. mate:
I.I dont Need to be in the bank to have an information what is going on there... lol
II. Gann indicator is not gann actualy, you can find very simmilar techniques and OLD ones:
1. 10/20 days High/low .. used by turtles
2. price channel
3. Donchian Channel
4. MA High/Low
III. have seen a lot of seminars, and traders using MA high/MA Low.. with 10 or 20.
IV. Personaly I have a very good friends, I can give to you ther phone...
I just like debating sometimes...lol
hey all indicators work in this market .... asl ong as we all make profts that is what is most important.
Blogging daily now at www.volume.zone