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

  • #154,541
  • Jan 21, 2009 2:51pm Jan 21, 2009 2:51pm
213 we come
  • #154,542
  • Jan 21, 2009 2:52pm Jan 21, 2009 2:52pm
Quoting Obaidah
did you anticipate this trap using volume? if yes, could you explain why and how please?
2x times no
  • #154,543
  • Jan 21, 2009 2:53pm Jan 21, 2009 2:53pm
Quoting malcolmb14
the other option is that we get bull flag off 125 .... to 38 .2 % reatrce then take off in London session

bank sector came off lows today .. I mentioned yesterday I would not be going long till banmk sector reverses

Attachment
If we get the Bull Flag you drew on your chart, we would have a classic inverted H & S. Something to watch.
  • #154,544
  • Jan 21, 2009 2:53pm Jan 21, 2009 2:53pm
Quoting malcolmb14
the other option is that we get bull flag off 125 .... to 38 .2 % reatrce then take off in London session

bank sector came off lows today .. I mentioned yesterday I would not be going long till banmk sector reverses

Attachment
Could be another impulsive move off the lows only to make new lows as well no?
Patience + Humility + Study = Success
  • #154,545
  • Jan 21, 2009 2:55pm Jan 21, 2009 2:55pm
Quoting malcolmb14
nice trading ...

with pa on daily it looks like we may be inb for reatrcement all way to 130 ...

unless sellers hit it in London , howver before this trap down move the 15 min on the GU during London was looking like a bottom maybe in.

I would just take partial profit and move stop +250 other half .. you may be pleasently surprised
125 broken.... I will let this thing run to at least 127. 130 may be possible as you say. A part of me says this thing will never go down below 120. PA looking strong. Thanks for the the advice.
  • #154,546
  • Jan 21, 2009 3:01pm Jan 21, 2009 3:01pm
Quoting Obaidah
did you anticipate this trap using volume? if yes, could you explain why and how please?

no ....

all morning I was trading long gu on a 5 min chart on the doji on pull backs ..

then all of a sudden out of nowhere the JPY got really strong . GU stood still for 10 minutes while gj was tanking.

eventualy gu came off .... but only to test London lows ... and where was the bad news to make usdjpy to tank like that. It was not coming from USD .. as the DX was barely moving on a 5min

I just knew something was not quiet right and sat out of the market.

I came back in to get a long trade off on GU on the reversal using my system , which confirmed my thoughts

Attached Image (click to enlarge)
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  • #154,547
  • Jan 21, 2009 3:02pm Jan 21, 2009 3:02pm
Quoting DutchTrader
Hey Q

Just busy with school and trying to find a job once I'm done . How are things with you?
not bad have had some really good days and some really bad ones lately. but overall I'm hanging for sure. . .
  • #154,548
  • Jan 21, 2009 3:03pm Jan 21, 2009 3:03pm
Quoting quecee5
not bad have had some really good days and some really bad ones lately. but overall I'm hanging for sure. . .
Man I think we are all in that boat. I like the fact that 125 just broke.
Patience + Humility + Study = Success
  • #154,549
  • Jan 21, 2009 3:04pm Jan 21, 2009 3:04pm
Quoting malcolmb14
the other option is that we get bull flag off 125 .... to 38 .2 % reatrce then take off in London session

bank sector came off lows today .. I mentioned yesterday I would not be going long till banmk sector reverses

Attachment
thats the one i am looking at but we will see. thats my kind of set ups!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #154,550
  • Jan 21, 2009 3:05pm Jan 21, 2009 3:05pm
Just to see where you think a good entry point maybe On my charts i got signals and the next entry is 125.63. Could be a bit of resistance so just looking for a little advice as a newbie

Thanks

Gary
  • #154,551
  • Jan 21, 2009 3:07pm Jan 21, 2009 3:07pm
Quoting DutchTrader
Could be another impulsive move off the lows only to make new lows as well no?

could be but check out the candle pattern on 60 min

what this move did was shake out the weak longs and trapped a few more bears.

Can you imagine it moved 500 pips down . I would have thought ' that's it ' this thing is going all the way to 100 go short 124.5, place stop at 600 pips ( as some do ). By the time you come back from your mornings chores or work .... you are down 500 pips .. then you think ah this has to tank has been doing so all week .... you move stop out to 1000 pips to give it some room .... and I doubt most swing traders really use 1% risk.
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  • #154,552
  • Jan 21, 2009 3:09pm Jan 21, 2009 3:09pm
Here is my 15 min chart.. We broke 125, but from 125 to 126 including Gann10 [4H], the traffic is too busy, I am not expecting that to broke before ASIA.. anyway.. just chopping in the flag..
Attached Image (click to enlarge)
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  • #154,553
  • Jan 21, 2009 3:09pm Jan 21, 2009 3:09pm
Quoting g.ashley95
Just to see where you think a good entry point maybe On my charts i got signals and the next entry is 125.63. Could be a bit of resistance so just looking for a little advice as a newbie

Thanks

Gary

gary i would not be chasing this move right now

wait for a flag to form on a 15 min chart ( hopefully during Asia) .... but with the crazy move down we have had and this impulsive move up and the s&p coming off 37 points off its lows .. this may not happen .

look at earlier post and see if we get reatrce.

I have noticed that the large moves euro / london start around 10 pm pst this week
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  • #154,554
  • Jan 21, 2009 3:10pm Jan 21, 2009 3:10pm
Quoting malcolmb14
could be but check out the candle pattern on 60 min

what this move did was shake out the weak longs and trapped a few more bears.

Can you imagine it moved 500 pips down . I would have thought ' that's it ' this thing is going all the way to 100 go short 124.5, place stop at 600 pips ( as some do ). By the time you come back from your mornings chores or work .... you are down 500 pips .. then you think ah this has to tank has been doing so all week .... you move stop out to 1000 pips to give it some room .... and I doubt...
Oh the horror!!!
Patience + Humility + Study = Success
  • #154,555
  • Jan 21, 2009 3:10pm Jan 21, 2009 3:10pm
PA's showing me the way, this thing's hell bent for a test of 125.60
Patience + Humility + Study = Success
  • #154,556
  • Jan 21, 2009 3:12pm Jan 21, 2009 3:12pm
Quoting malcolmb14
bank sector came off lows today ..

Attachment
Its all about the banks now. headline news on CNN MONEY says it all "bank stocks lift markets".

I haven't seen this is a very long time. It is looking more an more that this is the bottom
  • #154,557
  • Jan 21, 2009 3:12pm Jan 21, 2009 3:12pm
Quoting malcolmb14
gary i would not be chasing this move right now

wait for a flag to form on a 15 min chart ( hopefully during Asia) .... but with the crazy move down we have had and this impulsive move up and the s&p coming off 37 points off its lows .. this may not happen .

look at earlier post and see if we get reatrce.

I have noticed that the large moves euro / london start around 10 pm pst this week
Thanks malcolmb
  • #154,558
  • Jan 21, 2009 3:13pm Jan 21, 2009 3:13pm
Quoting malcolmb14
could be but check out the candle pattern on 60 min

what this move did was shake out the weak longs and trapped a few more bears.

Can you imagine it moved 500 pips down . I would have thought ' that's it ' this thing is going all the way to 100 go short 124.5, place stop at 600 pips ( as some do ). By the time you come back from your mornings chores or work .... you are down 500 pips .. then you think ah this has to tank has been doing so all week .... you move stop out to 1000 pips to give it some room .... and I doubt most swing traders really...
500 pip sl? 1000 pip sl? my stomach couldnt take it! maybe one day i'll get to the point where i can long term trade but man when i get profit i take it and alot of times i miss more of a move but i just wait for another entry. guess i'll be day trading for a bit
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #154,559
  • Jan 21, 2009 3:17pm Jan 21, 2009 3:17pm
Quoting DutchTrader
Man I think we are all in that boat. I like the fact that 125 just broke.
yep, lets see if it stays there after NY close. . . Today is triple interest Wed. so I'm not sure if this is a true short-term reversal or a BS move yet. I'd like to see it close above the 4hr gann hi/lo and then get above the daily pivot in Asian/London session. . . Otherwise I'm keeping my stops close.

I'm in at 122.10 soon to be at 122.00 after the close and collection of triple interest. Either I'll build some longs short-term if I see a close above 4hr gann or TP on a break below 124. . .
  • #154,560
  • Jan 21, 2009 3:19pm Jan 21, 2009 3:19pm
Quoting quecee5
yep, lets see if it stays there fater NY close. . . Today is triple interest Wed. so I'm not sure if this is a true short-term reversal or a BS move yet. I'd like to see it close above the 4hr gann hi/lo and then get above the daily pivot in Asian/London session. . . Otherwise I'm keeping my stops close.

I'm in at 122.10 soon to be at 122.00 after the close and collection of triple interest. Either I'll build some longs short-term if I see a close above 4hr gann or TP on a break below 124. . .
125.60 and above will make me breath easier. If not short bus it is
Patience + Humility + Study = Success
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