Dislikedguys. this is a crazy beatifull pair. but i have to make a decision right now. since i at the beginning of my trading adventure.
Is it ok to focus on this volatile crazy pair even if i am really dumb in forex. or should i start with a pair slower and less volatile.
this pair rocks but can kill you overnight.
thanksIgnored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #159,322
- Feb 10, 2009 4:56pm Feb 10, 2009 4:56pm
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
Money & Pain
Respect the market, protect your capital, be patient
- #159,324
- Feb 10, 2009 5:03pm Feb 10, 2009 5:03pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Anybody want to take a stab at what the bottom wil be?
Man the DOW is in the crapper!
With S&P almost the same, consolidation. I am expecting:
- Hidden Divergence to continue to play out [green]
- Testing the previous HI and daily 50 ema, forming the double TOP
- Rejecting the 50 ema level, and continue to break the Lower TL, or
- breaking the 50 ema level, taking the last HI, and test the upper one and Daily ema..
- any rejection form this continuation pattern, would simply show us only one way, breaking the pattern and BEAR trend continuation
http://www.forexfactory.com/attachme...1&d=1234101266
S&P now..
- #159,325
- Feb 10, 2009 5:04pm Feb 10, 2009 5:04pm
When I got burned on geppy as a newb, I went and traded cable for 3 months every day, which is a nice pair to learn on, then I traded U/J for 3 months, again, nice pair to trade, THEN I came back to my favorite instrument, the beast, wiser and richer.
This is exactly my point. Trade a pair like G/U for a few months or an year. or the E/U. or is it ok just to start with G/J and focus on the "beast" how you guys like to call her/him lol
- #159,326
- Feb 10, 2009 5:13pm Feb 10, 2009 5:13pm
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
- #159,327
- Feb 10, 2009 5:15pm Feb 10, 2009 5:15pm
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
I saw that and posted on sunday, when everyone were screaming for LONGS.. on market.. and 140 even 167 levels
Chart I posted 3 days ago: (you can check my others analysis, including UY, GU and GY)
http://www.forexfactory.com/attachme...1&d=1234101266
S&P now..
I can see a H&S there. i didn't see that until now.
- #159,328
- Feb 10, 2009 5:17pm Feb 10, 2009 5:17pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Nice,
I can see a H&S there. i didn't see that until now.
I called this drop a while ago, when everyone were screaming on LONGS..
there are also some EW counts, I am working with!
cheers!
- #159,330
- Feb 10, 2009 5:36pm Feb 10, 2009 5:36pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #159,334
- Feb 10, 2009 5:55pm Feb 10, 2009 5:55pm
agree bro.. anyway my road map for today..
Different traders, different analysis, same result.
{Some Profound Statement goes here}
- #159,335
- Feb 10, 2009 5:59pm Feb 10, 2009 5:59pm
Thank you.
This is exactly my point. Trade a pair like G/U for a few months or an year. or the E/U. or is it ok just to start with G/J and focus on the "beast" how you guys like to call her/him lol
I would say trade the GU to learn on, don't even try to make money yet.
- #159,336
- Feb 10, 2009 6:03pm Feb 10, 2009 6:03pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Confluence is a dirty word. I was looking at the 132.30/70 area as a good selling region based on volumes for yesterday. Might see a nice little flag develop.
Different traders, different analysis, same result.
The fact that price is trading below 1hr/4hr gann hi/lo gives more reason to sell rallies on any retrace failing at support now turned resistance. . .
- #159,337
- Feb 10, 2009 6:04pm Feb 10, 2009 6:04pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Confluence is a dirty word. I was looking at the 132.30/70 area as a good selling region based on volumes for yesterday. Might see a nice little flag develop.
Different traders, different analysis, same result.
- #159,338
- Feb 10, 2009 6:07pm Feb 10, 2009 6:07pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
that is exacty the beauty, of posting our STUFF here mate
- #159,340
- Feb 10, 2009 6:10pm Feb 10, 2009 6:10pm
Agreed - however if price makes a 4hr close above 4hr 55 ema we could see it touch 135 area (daily 5SMA) before heading down further. This assumes that price gets above the 4hr sma. But you are correct there is a lot of resistance up top that will need to be taken out before this happens. ..
The fact that price is trading below 1hr/4hr gann hi/lo gives more reason to sell rallies on any retrace failing at support now turned resistance. . .
{Some Profound Statement goes here}