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

  • #157,761
  • Feb 3, 2009 3:49pm Feb 3, 2009 3:49pm
Quoting Monk
not liking my short right now....was looking for a nice drop.
hmmmmmm

Relax..
  • #157,762
  • Feb 3, 2009 3:51pm Feb 3, 2009 3:51pm
Quoting The Watcher
Very well said about the three rules... have tried scalping on one minutes once, but requotes really made it difficult.


1 m charts are VERY HARD to trade from ...

I like 3 min charts for scalping when markets choppy. ..
Blogging daily now at www.volume.zone
  • #157,763
  • Feb 3, 2009 3:51pm Feb 3, 2009 3:51pm
Quoting malcolmb14
to early .. but this bear div might give us something

Attachment

Yes, and if we also look at the chart from bpatto, then its a possibility
  • #157,764
  • Feb 3, 2009 3:54pm Feb 3, 2009 3:54pm
Hellooo ladies and gents.

Here's my take based on price action, Gann, and QQEs.

First, we have the monthly chart which closed as a mediocre pin. Albeit, this is showing a stall or upcoming reversal in the market, due to some reason(support/resistance- as you can clearly see by the expanded view of the chart) as do all spinning tops/bottoms and pin bars. This, IMO, is showing that some sort of a bounce is going to come into play soon.

With the monthly chart in mind, we'll move to the weekly chart. You'll notice that last week closed as an inside bar. We are trading below the Gann on this timeframe and so I would look to it as solid resistance. Draw a horizontal line at that point, 137, and you'll notice an immediate PPZ area throughout the past few weeks. If you are trading based solely on the weekly chart, an entry would be based after the break of the IB to the upside with the monthly "pin" in mind. Now we'll move down to the daily charts from here.

With the weekly in mind, we know that there is going to be a solid resistance area at 137. Now, you can clearly see on the daily chart that we are trading above the Gann line and got our retracement. Price is bullish IMO until we break below that line. With price being bullish on the daily chart (based on the Gann and QQE analysis), although below on the weekly chart, I have placed trades targeting the gann (PPZ area) on the weekly.

Any thoughts?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: poundin yen monthly.gif Size: 14 KB
Click to Enlarge Name: poundin yen weekly.gif Size: 13 KB
Click to Enlarge Name: poundin yen daily.gif Size: 14 KB
I dream, therefore I become.
  • #157,765
  • Feb 3, 2009 3:56pm Feb 3, 2009 3:56pm
Quoting arezab
Nice market today specially with GU ... been playing 1 minute chart with GU.

Something I wanted to mention for those who are swing trader or just want to start scalping. Trading 1 minute chart helps traders learn 3 things which we always talk about but most of those who lose rarely appear to conform.

1- Never marry to a position.
2- Just follow the system no matter what you think market will do.
3- Be flexible, decide fast, act quickly and close losing positions immediately.

I suggest newcomers to start scalping from 1M chart (demo first)....
Very well said about the three rules... have tried scalping on one minutes once, but requotes really made it difficult.
Mediocrity is costly, contentment is great gain.
  • #157,766
  • Feb 3, 2009 3:56pm Feb 3, 2009 3:56pm
I forgot the expanded view of the monthly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: expanded view.gif Size: 14 KB
I dream, therefore I become.
  • #157,767
  • Feb 3, 2009 4:04pm Feb 3, 2009 4:04pm
Quoting bpatto
As you can see there is not too much interest in anything over 128.50, big boys are just letting the market drift.

I will post the asian session results before London.
This seems to be a nice tool. Do you have any idea if there is any indicator similar to this for MT4?
Discipline + Patience - Fear - Greed = Success
  • #157,768
  • Feb 3, 2009 4:06pm Feb 3, 2009 4:06pm
Quoting vinesh2
Does anyone know if you can scale out positions on MT4 platoform?
yes u can. . .
  • #157,769
  • Feb 3, 2009 4:07pm Feb 3, 2009 4:07pm
That double top on G/U has prompted me to close all my longs.


I now have shorts on G/U and G/J with a SL 20 pips above the intraday top.

My sentiment is still long....just not now

G/L all
  • #157,770
  • Feb 3, 2009 4:12pm Feb 3, 2009 4:12pm
doesnt look like we ware getting that drop
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #157,771
  • Feb 3, 2009 4:13pm Feb 3, 2009 4:13pm
Short, TP at 128.61
  • #157,772
  • Feb 3, 2009 4:16pm Feb 3, 2009 4:16pm
Quoting malcolmb14
to early .. but this bear div might give us something

Attachment
you still in at 2920?
--post hoc ergo propter hoc--
  • #157,773
  • Feb 3, 2009 4:21pm Feb 3, 2009 4:21pm
Quoting arezab
This seems to be a nice tool. Do you have any idea if there is any indicator similar to this for MT4?
I am not sure about MT4, Piters posted something yesterday that included Volume at price, but it was not on MT4.

http://www.forexfactory.com/showpost...stcount=157587

I know Esignal provides better volume info than the majority of MT4 brokers.
{Some Profound Statement goes here}
  • #157,774
  • Feb 3, 2009 4:22pm Feb 3, 2009 4:22pm
3 more pips till my sl, lol

nm... was hit as i was talking
Dr. C
  • #157,775
  • Feb 3, 2009 4:28pm Feb 3, 2009 4:28pm
Quoting Monk
you still in at 2920?


yes and rescue trade at 129.40 , just in case of upthrust , whihc we just saw

so i now have 2 positions open .

The idea of rescue trade is that it gets to profit faster than orignal but the stop are 40 pip on oringal and 25 on rescue
Blogging daily now at www.volume.zone
  • #157,776
  • Feb 3, 2009 4:29pm Feb 3, 2009 4:29pm
Quoting fxinthesun
Short, TP at 128.61

Moved TP to 128.145
  • #157,777
  • Feb 3, 2009 4:38pm Feb 3, 2009 4:38pm
Quoting malcolmb14
yes and rescue trade at 129.40 , just in case of upthrust , whihc we just saw

so i now have 2 positions open .

The idea of rescue trade is that it gets to profit faster than orignal but the stop are 40 pip on oringal and 25 on rescue

Hi Malcolmb, whats your targets?
  • #157,778
  • Feb 3, 2009 4:40pm Feb 3, 2009 4:40pm
Quoting fxinthesun
Hi Malcolmb, whats your targets?

no idea..

tell you what why don't you tell me the targets .. .seriously .. that way you will learn ...
Blogging daily now at www.volume.zone
  • #157,779
  • Feb 3, 2009 4:43pm Feb 3, 2009 4:43pm
Quoting bpatto
I am not sure about MT4, Piters posted something yesterday that included Volume at price, but it was not on MT4.

http://www.forexfactory.com/showpost...stcount=157587

I know Esignal provides better volume info than the majority of MT4 brokers.

my price histogram and levels for last 24H. (stiil i am trying to figure all functions.. but seams the levels works)
Attached Image (click to enlarge)
Click to Enlarge Name: dds-26.png Size: 44 KB
  • #157,780
  • Feb 3, 2009 4:44pm Feb 3, 2009 4:44pm
stops on rescue trade +20 , on orignal be +1

no stress now
Blogging daily now at www.volume.zone
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