DislikedYes, 130 area was the last support so it could hold as a resistence now.Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #160,164
- Feb 12, 2009 5:22pm Feb 12, 2009 5:22pm
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Even if I favor the bearish side, I have to take into consideration:
- Strong reversal of US markets, short covering but volume also was bigger than yesturday
- G7 starts tommorow into the weekend so hart to hold shorts
- Monday US markets will be closed.
- Tomorow the stimulus plan is schedule for vote.
- I want to see how price acts near H4 Gann.
A retrace, maybe but hard to tell. I don't think the one of the above events has any good thing for the market. maybe just covering some shorts. but that's my view....
you can have an opposite perspective also
all those are good motives to push the price down,
and buy from the bottom, make money and profit..
- the best thing is to watch and play our charts. (imho)
- #160,167
- Feb 12, 2009 5:35pm Feb 12, 2009 5:35pm
- Joined Nov 2008 | Status: Full Time Trader | 10,867 Posts
you can have an opposite perspective also
all those are good motives to push the price down,
and buy from the bottom, make money and profit..
- the best thing is to watch and play our charts. (imho)
For now I'm still looking into fundies and news
can't relly only on charts yet. but i i will get there. 90% of my trades are on the short side, and when things like rumors about bailout, stimulus .. come along, i just pass to the next tradeor wait.
- #160,170
- Feb 12, 2009 5:39pm Feb 12, 2009 5:39pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
looks bearish to me pki.
- #160,173
- Feb 12, 2009 5:57pm Feb 12, 2009 5:57pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
should be interesting.....
Deciding whether or not to take that trade
- #160,174
- Feb 12, 2009 6:04pm Feb 12, 2009 6:04pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
hey look at this .....
in reality we are just in a flag ... a bull flag ... retraced 50 % of up move ...
flag pole was 2000 pips long
if we get breakout 130 we also get break of flag
in reality we are just in a flag ... a bull flag ... retraced 50 % of up move ...
flag pole was 2000 pips long
if we get breakout 130 we also get break of flag
Blogging daily now at www.volume.zone
- #160,177
- Feb 12, 2009 6:38pm Feb 12, 2009 6:38pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I keep forgetting, who has those volume charts, always enjoy looking at them and pretending I know what's going on
nikkei gapped up and moved down to fill gap .. hence small flag we are seeing on 5 min right now.
as long as 129 does not break up trend intact
note trend is last 14 hours
for me it is buy the dips unless 50% fib at 128.05 gets takens out . All day there were buyers off this level
Blogging daily now at www.volume.zone
- #160,179
- Feb 12, 2009 6:55pm Feb 12, 2009 6:55pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
what if this was just a retracement of the upmove ?
If in fact we do not see a break of 128.07 and daily Gann in this zone then we have a 1-2-3 buy formation with fib expansions on it that give us possibility of test of recent highs (138,55) . This is assuming that this is a large bull flag off the top.
Big Bruv maybe right on this one ...... the next few days will tell ...
If in fact we do not see a break of 128.07 and daily Gann in this zone then we have a 1-2-3 buy formation with fib expansions on it that give us possibility of test of recent highs (138,55) . This is assuming that this is a large bull flag off the top.
Big Bruv maybe right on this one ...... the next few days will tell ...
Blogging daily now at www.volume.zone
- #160,180
- Feb 12, 2009 7:01pm Feb 12, 2009 7:01pm
I keep forgetting, who has those volume charts, always enjoy looking at them and pretending I know what's going on
{Some Profound Statement goes here}