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

  • #157,661
  • Feb 3, 2009 9:09am Feb 3, 2009 9:09am
it seems that a lot of the markets are trading in a ridiculous range even the futures markets are choppy.
"Don't trade to trade . . . trade to win." - James16
  • #157,662
  • Feb 3, 2009 9:14am Feb 3, 2009 9:14am
so what's the huge move that's coming?

i only see the interest rate decision that's coming in these 2 days.
  • #157,663
  • Feb 3, 2009 9:22am Feb 3, 2009 9:22am
Quoting hwsv07
so what's the huge move that's coming?

i only see the interest rate decision that's coming in these 2 days.

im getting ready to put a huge order in

probably just referring to the breakout that is coming at sompoint. unless it stays in this 100 pip range or so all day which would be nice
  • #157,664
  • Feb 3, 2009 9:23am Feb 3, 2009 9:23am
I m expecting the sterling to drop soon cause the news makes US stronger..I think...

by breaking the hard support..
  • #157,665
  • Feb 3, 2009 9:24am Feb 3, 2009 9:24am
there is strong resistance at 128.1x and strong support at 126.8x.

either way we watch.
  • #157,666
  • Feb 3, 2009 9:24am Feb 3, 2009 9:24am
Quoting PandoraBox
can someone please tell me if this PA for GJ is normal? Abnormal

However from my experience, GJ at the moment in the stage of build momentum. If the momentum start it will show us to go up or down. Just check your H4 TF, price just play around EMA 50.
We are stuck in very small (for GY 200 pips) range between upper one and 126.80 guarded (very strong) level the last 24h. GU broke to up side, UY rejected from H/S formation, and now acting as a continuation (mean we are testing the previous low now). Usualy we should see a nice breakout to UP pr Down side shortly to up or to down. My favorite is Down - for now.

200 pips range for GY is dangerous. Some times is hard to trade even with 1min. So if you can.. just FOLD (as in Poker game) until next DEAL.. The Deal comming soon.
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  • #157,667
  • Feb 3, 2009 9:27am Feb 3, 2009 9:27am
Quoting Piters
We are stuck in very small (for GY 200 pips) range between upper one and 126.80 guarded (very strong) level the last 24h. GU broke to up side, UY rejected from H/S formation, and now acting as a continuation (mean we are testing the previous low now). Usualy we should see a nice breakout to UP pr Down side shortly to up or to down. My favorite is Down - for now.

200 pips range for GY is dangerous. Some times is hard to trade even with 1min. So if you can.. just FOLD (as in Poker game) until next DEAL.. The Deal comming soon.
piters, you bias is down cos of the H&S on the H1?
  • #157,668
  • Feb 3, 2009 9:29am Feb 3, 2009 9:29am
Quoting arezab
More than normal, it was spectacular but only for scalpers ... switch to 5M and see how much pips you could make today ... for me it was a nice day ... +360 and -85 pips in about 9 hours trading ... though I left lots of pips on the table

Agree mate....I just using M1, fishing without bait.
  • #157,669
  • Feb 3, 2009 9:31am Feb 3, 2009 9:31am
Quoting arezab
More than normal, it was spectacular but only for scalpers ... switch to 5M and see how much pips you could make today ... for me it was a nice day ... +360 and -85 pips in about 9 hours trading ... though I left lots of pips on the table
marvelous job bro, you are the best !!
  • #157,670
  • Feb 3, 2009 9:32am Feb 3, 2009 9:32am
Quoting PandoraBox
Agree mate....I just using M1, fishing without bait.
and u too, one of the best around
  • #157,671
  • Feb 3, 2009 9:35am Feb 3, 2009 9:35am
Quoting hwsv07
piters, you bias is down cos of the H&S on the H1?
my favourite is to DOwn side, but I am trying not to be BIASED:

 

  1. GY. GU are making Topping patterns, last 2 weeks.. we need a litle bit patience
  2. UY just broke to Down side... making a new low.
  3. GU broke the range and testing the Hight of the left Shoulder 1.4400
  4. All pairs are in some Complex version on H/S formation
  5. But GY is confused, just have a look how many times we crossed DPP and 50 ema on 1 h.. that is dangerous, and on higher TF (very Choppy)
  6. I am expecting a strong Breakout, even so we range in last 24+ bars, I 've seen 2-3 days ranging. So can happend NOW durring this NY session, or in next day or two..
  7. aslo keep on mind that we are in NFP week, a lot of traders are not trading as well..

my 2c

  • #157,672
  • Feb 3, 2009 9:36am Feb 3, 2009 9:36am
GM ALL

I'm looking to switch brokers (US) that use mt4 platform. Was wondering if some of the senior traders could suggest a few and give a brief summary why?

Thank u in advance. . .
  • #157,673
  • Feb 3, 2009 9:40am Feb 3, 2009 9:40am
Quoting hwsv07
so what's the huge move that's coming?

i only see the interest rate decision that's coming in these 2 days.
as long as price stays above 123.10 area it will head toward a test of 141. . . Below 123.10 and it will see neew lows 116 area. . .

check out the daily chart which suggest that a test of support @ 123.10 or lower is forthcoming.
  • #157,674
  • Feb 3, 2009 9:41am Feb 3, 2009 9:41am
Quoting quecee5
GM ALL

I'm looking to switch brokers (US) that use mt4 platform. Was wondering if some of the senior traders could suggest a few and give a brief summary why?

Thank u in advance. . .
Hi bro, Sorry can't help you with mt4 brokers.. I have only one NZ based (using mainly for additional charting), and I would not recommend to you.. hope somebody will come up with some nice propos.
  • #157,675
  • Feb 3, 2009 9:43am Feb 3, 2009 9:43am
Quoting Piters
We are stuck in very small (for GY 200 pips) range between upper one and 126.80 guarded (very strong) level the last 24h. GU broke to up side, UY rejected from H/S formation, and now acting as a continuation (mean we are testing the previous low now). Usualy we should see a nice breakout to UP pr Down side shortly to up or to down. My favorite is Down - for now.

200 pips range for GY is dangerous. Some times is hard to trade even with 1min. So if you can.. just FOLD (as in Poker game) until next DEAL.. The Deal comming soon.
But piters I see a bull flag on 15M chart. I think up is more probable. JMO

BTW if flag breaks to the upside, 130 will be on the card for sure.
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Discipline + Patience - Fear - Greed = Success
  • #157,676
  • Feb 3, 2009 9:44am Feb 3, 2009 9:44am
Quoting Piters
Hi bro, Sorry can't help you with mt4 brokers.. I have only one NZ based (using mainly for additional charting), and I would not recommend to you.. hope somebody will come up with some nice propos.
Thxs bro. . . Hope all is well!
  • #157,677
  • Feb 3, 2009 9:46am Feb 3, 2009 9:46am
It's not so unusual for a pair to be range-bound, but because GY has been soooooo trendy for an eternity now, we've come to expect big moves. Just look at todays chart on a 15m TF, perfect setup to scalp between the upper and lower trend lines..... (easier said than done granted and if I'm honest, I haven't scalped this pair much today).

Yentastic will have made a gazillion pips today though....

As always, we need to forget what we think is about to happen and trade what we see.

THERE IS NO MAJOR BREAKOUT, for now.
  • #157,678
  • Feb 3, 2009 9:47am Feb 3, 2009 9:47am
Quoting quecee5
GM ALL

I'm looking to switch brokers (US) that use mt4 platform. Was wondering if some of the senior traders could suggest a few and give a brief summary why?

Thank u in advance. . .
I think ODL is ok ... fast execution, fast withdrawal and tight spread and most importantly highly trusted because of many regulations.

BTW don't chose FXCM at all (you know why), they offer MT4 recently. ODL is based in UK but it has branch in US too.
Discipline + Patience - Fear - Greed = Success
  • #157,679
  • Feb 3, 2009 9:49am Feb 3, 2009 9:49am
Quoting arezab
But piters I see a bull flag on 15M chart. I think up is more probable. JMO

BTW if flag breaks to the upside, 130 will be on the card for sure.
lol, exactly bro, that why I said I am trying not to be biased.. I trade any direction.. You just made a good point.. see:

it is different angle I am looking on that pattern. You pointed 15min bear flag, I am seeing 1h complex topping patterns forminig.. So can be anything in this stage, that why I am only FOLDING my cards for now
  • #157,680
  • Feb 3, 2009 9:51am Feb 3, 2009 9:51am
Quoting quecee5
GM ALL

I'm looking to switch brokers (US) that use mt4 platform. Was wondering if some of the senior traders could suggest a few and give a brief summary why?

Thank u in advance. . .
I am not a Senior trader ( yet ) but I would take a look at IBFX, decent spreads during news and very stable... no mystery spikes or other events like some other brokers...

And I believe Karmo uses them as well...

My 2 pips...
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