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

  • #157,141
  • Jan 30, 2009 12:46pm Jan 30, 2009 12:46pm
Loaded short at the daily high (that's yesterday's daily high) after the pin bar, clearly blown away and oh look who decides to come back down now...figures
peace and love
  • #157,142
  • Jan 30, 2009 12:48pm Jan 30, 2009 12:48pm
so reluctant to go down - shld go to DP
  • #157,143
  • Jan 30, 2009 12:48pm Jan 30, 2009 12:48pm
hit 61.8 bang on ... got buy trigger 3 min and right on 129,50 so closed short ...

the power of fibs

note the uncluttered chart .. need to see price action not a bunch of indies..note for newbies , now if ES rallies here into close and gj goes hit that price level of 131 I mentioned earlier i am going to s**t my pants AND THE MILKY BARS ARE ON ME !!! stop on long set at breakeven

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  • #157,144
  • Jan 30, 2009 12:51pm Jan 30, 2009 12:51pm
sorry malcolm forgot the chart
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peace and love
  • #157,145
  • Jan 30, 2009 12:59pm Jan 30, 2009 12:59pm
Quoting darkmorg
sorry malcolm forgot the chart

nmote high vol on 15 min .. highest anmd what formed .. a pin bar that volume was buyers .

Note high volume on down bar a bit later ... on red down candle on 15 min ... did not do anything .. not even break support .... that was sellers being absorbed by buyers...

also qqe up trend so do not see bearish indicators you are talking about

you do not need to understand volume to understand price action , and nor do you need it. If you have a push down in price on 15 min candle and then you end up with largew wick this is buyers coming in .

In an up move / trend if you end up with effort to push down and candle cannot lcose under support but has long wicks top and bottom , liekly means trend is going to continue

study some candle stick charting books. ... we all use them but some really do not know how to read the candles well ... it is a learnt art.

Today is also a very odd day ... may signify the top of a market .. not sure yet , weill have to wait for reaction on Sunday / 1st London session of next week .
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  • #157,146
  • Jan 30, 2009 1:20pm Jan 30, 2009 1:20pm
Quoting malcolmb14
nmote high vol on 15 min .. highest anmd what formed .. a pin bar that volume was buyers .

Note high volume on down bar a bit later ... on red down candle on 15 min ... did not do anything .. not even break support .... that was sellers being absorbed by buyers...

also qqe up trend so do not see bearish indicators you are talking about

you do not need to understand volume to understand price action , and nor do you need it. If you have a push down in price on 15 min candle and then you end up with largew wick this is buyers coming in...

Damn I just went through checking out the Wadda indicator.... That thing ROCKS... Shows when a pull back is DEF just a pullback not a negation of trend based on the volume. NICE
Dr. C
  • #157,147
  • Jan 30, 2009 1:25pm Jan 30, 2009 1:25pm
Quoting malcolmb14
hit 61.8 bang on ... got buy trigger 3 min and right on 129,50 so closed short ...

the power of fibs

note the uncluttered chart .. need to see price action not a bunch of indies..note for newbies , now if ES rallies here into close and gj goes hit that price level of 131 I mentioned earlier i am going to s**t my pants AND THE MILKY BARS ARE ON ME !!! stop on long set at breakeven

Attachment

ok PA sucks ... out of long for small profit .. so no MIKLY BARS .. sorry gang

have a great weekend every one.

That was a very choppy volatile week , mostly ranging .

here is my 4 hour chart with some simple s/r resistance zones on it .

we have poked baove the trend line , now we need to have confirmation of this move. If we move up from here 134 is next target , if this is trap up move we head back down to that 126.65 level

KEEP IT SIMPLE kids ....

have a great weekend , hope my postings did not seem like I am to arrogant , sometime it can appear like that .. confidence is what i call it lol .... you name the mistake ... been there and done it ...been in this game 6 years now and still learning every day

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  • #157,148
  • Jan 30, 2009 3:53pm Jan 30, 2009 3:53pm
Daily Gann is up. Gonna wait for a retrace and go long. Should be an interesting week. I had losses this week myself so hope to make it up next week.

Good weekend all
  • #157,149
  • Jan 30, 2009 4:39pm Jan 30, 2009 4:39pm
Quoting bigcoupe
Daily Gann is up. Gonna wait for a retrace and go long. Should be an interesting week. I had losses this week myself so hope to make it up next week.

Good weekend all
sorry to hear that ...... next week is another week and hope the losses were not to bad.

Big of you to admit the losses ....respect for that
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  • #157,150
  • Jan 30, 2009 5:24pm Jan 30, 2009 5:24pm
Quoting malcolmb14
sorry to hear that ...... next week is another week and hope the losses were not to bad.

Big of you to admit the losses ....respect for that
gann said up but next week BOE cut rate and Non farm let see what happens.
  • #157,151
  • Jan 30, 2009 5:25pm Jan 30, 2009 5:25pm
Quoting malcolmb14

have a great weekend , hope my postings did not seem like I am to arrogant , sometime it can appear like that .. confidence is what i call it lol .... you name the mistake ... been there and done it ...been in this game 6 years now and still learning every day

Attachment
Not at all Malcolm. I for one love your posts. Either confirms what I'm thinking or highlights things I should be observing.

Massively helpful, not arrogant.
  • #157,152
  • Jan 30, 2009 5:26pm Jan 30, 2009 5:26pm
Quoting amed12
gann said up but next week BOE cut rate and Non farm let see what happens.
Don't bet the farm on BoE cut being either bearish or bullish, could be either. As I posted earlier, look at what happened to the Dollar when the Fed were slashing rates.
  • #157,153
  • Jan 30, 2009 5:56pm Jan 30, 2009 5:56pm
Quoting amed12
gann said up but next week BOE cut rate and Non farm let see what happens.

as uk trader says ... do not count on this ... fundies make no sense any more and if you try to guess them in this market you could be 2000 pips in the red before the fundies even kick in ... just trade the charts
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  • #157,154
  • Jan 30, 2009 6:46pm Jan 30, 2009 6:46pm
Quoting ukdaytrader
Not at all Malcolm. I for one love your posts. Either confirms what I'm thinking or highlights things I should be observing.

Massively helpful, not arrogant.

Yep, I agree...
  • #157,155
  • Jan 30, 2009 6:55pm Jan 30, 2009 6:55pm
I noticed alot of people here trade shorter time frames, I want to stay on this forum for all of the amazing advice and mentoring, however can someone point me towards a mentor/a resource for trading longer time frames, IE 1 hour etc for this pair?
Dr. C
  • #157,156
  • Edited 7:30pm Jan 30, 2009 6:56pm | Edited 7:30pm
hello everybody

I've been working on an indicator which provides signs of strength/weakness according to volume and spread analysis, i've added few conditions so that when met a sign will appear with a description (place the mouse on the sign), what it actually do is that it analysis volume, spread, close part, and it classifies volume and spread accordingly, in order to use it you must copy the following 2 indicators and plot ONLY "Volume Spread Analyzer" to your chart, the other one will work as assistant,

Since this is the very beta version, you'll find alot of bugs, wrong signals and it requires alot of proccessing (compared to forex indicators), there will be alot of simplifications in the comming versions but first i'd like to know if worth ... I'd like to hear your comments and please try to report a bug once its found.

edit: so far it works best on 5m and 15m charts
Attached File(s)
File Type: mq4 Spread Analyzer.mq4   5 KB | 502 downloads
File Type: mq4 Volume Spread Analyzer.mq4   11 KB | 467 downloads
I recommend you read something else as this sentence is now concluded.
  • #157,157
  • Jan 30, 2009 7:08pm Jan 30, 2009 7:08pm
Quoting cvcamper
I noticed alot of people here trade shorter time frames, I want to stay on this forum for all of the amazing advice and mentoring, however can someone point me towards a mentor/a resource for trading longer time frames, IE 1 hour etc for this pair?
here.

http://www.forexfactory.com/showthread.php?t=43255
  • #157,158
  • Jan 30, 2009 7:18pm Jan 30, 2009 7:18pm
lost 900$ going short on the gbp/jpy not alot for you guys making 10k a day but for a small fish like me is very discouraging and disheartnening.

malcolm, i was looking at your strategy using 50sma entering 15 pips above long or the reverse for short, can you please share your exit strategy for this system?

yentastic, any word on your system?
  • #157,159
  • Jan 30, 2009 7:23pm Jan 30, 2009 7:23pm
Off-market rate went up to 131.08 and just went down in Asia-morning to 128.99. My bet is on lower gap next week. 200 pips gap would be nice .
  • #157,160
  • Jan 30, 2009 7:36pm Jan 30, 2009 7:36pm
Quoting fxnoob08
lost 900$ going short on the gbp/jpy not alot for you guys making 10k a day but for a small fish like me is very discouraging and disheartnening.

malcolm, i was looking at your strategy using 50sma entering 15 pips above long or the reverse for short, can you please share your exit strategy for this system?

yentastic, any word on your system?
I am guessing you got in here , as if you took the long signal in the us session you would have made 150 pips

use a stop , 1.2 x atr (21) works well . and if you get a long trigger close the sell position right away or move stop in close on it

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