crazy range ....
130.10 to 130.60 ....5th time on last 1.5 hours....
love ranges like this .... rack and stack em . Be patient , only enter at top / bottom of range...you miss one trade wait for next one.
Attachment
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #160,601
- Feb 15, 2009 7:14pm Feb 15, 2009 7:14pm
- #160,602
- Feb 15, 2009 7:14pm Feb 15, 2009 7:14pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Is there something like this for mettrader? or GFT?
do not know and not required to have fancy things like volume histogram... just draw support / resistance lines on chart and watch price action at these lines
Just simple price action / candle patterns are very good.
Right now there may be strength as last short did not reach bottom of channel , so I know to be more cautious as price approaches top of channel here
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- #160,603
- Feb 15, 2009 7:16pm Feb 15, 2009 7:16pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #160,604
- Feb 15, 2009 7:24pm Feb 15, 2009 7:24pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
LOL. perhaps, but i'd still like to see some of the pip god's analysis. Malcolm is the scalp god around here but even he gives out wrong calls now and again.
60 min at the moment is long ..... till that rsx crosses back down .
the gap down did not even hit 61.8% of up move. and oddly enough ended right on the trend line thru the lows on feb 12th . That will now be the line in the sand to break for new lows. , that 130 area ... which is also major psychological support being 130 (number dividable by 10 )
we may close gap and have price move up to previous resistance area at 131.30 , that also ties in with 38 % retracement. and 50 sma on the 60 min . I think from a gann perspective 4 hour is support 129.90 ish , however 1 hour GAnn is curlin over is is resistance at 132.60
As for longer term I think we may see ES break 800 this week ,, taking gj down ... but that will not be until Tuesday / Wednesday and alot can happen in the gj between now and then
form here will have to see what market reaction is.
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- #160,606
- Feb 15, 2009 7:29pm Feb 15, 2009 7:29pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
I give out wrong calls all the time .....that is why I suck at swing trading ...
give me a 15 / 5 and 3 min chart any day ... no guessing days ahead of time
lol
higher breach? still not convinced as yet. This morning's movements seems like some big insto is desperate to buy but is being very conservative especially so with the thin liquidity.
Malc, you should have more experience with this. Have you ever seen insto's accumulating GJ on a holiday within a 50 pip channel?
- #160,607
- Feb 15, 2009 7:36pm Feb 15, 2009 7:36pm
humble too
higher breach? still not convinced as yet. This morning's movements seems like some big insto is desperate to buy but is being very conservative especially so with the thin liquidity.
Malc, you should have more experience with this. Have you ever seen insto's accumulating GJ on a holiday within a 50 pip channel?
B
- #160,608
- Feb 15, 2009 7:38pm Feb 15, 2009 7:38pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
humble too
higher breach? still not convinced as yet. This morning's movements seems like some big insto is desperate to buy but is being very conservative especially so with the thin liquidity.
Malc, you should have more experience with this. Have you ever seen insto's accumulating GJ on a holiday within a 50 pip channel?
have seen lots of odd goings on on US Holidays.....one time I think there was even a 600 pip move up in Asia
But do not see a whole bunch of buying yet ..... just this back and forth on a gap down .. could be drying up supply ....
I have seen alot of this sideways price action this past week or so at different price levels , mostly in Asia before big 300 pip move in London
Blogging daily now at www.volume.zone
- #160,610
- Feb 15, 2009 8:04pm Feb 15, 2009 8:04pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #160,613
- Feb 15, 2009 8:22pm Feb 15, 2009 8:22pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
- #160,615
- Feb 15, 2009 8:37pm Feb 15, 2009 8:37pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #160,617
- Feb 15, 2009 8:47pm Feb 15, 2009 8:47pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
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- #160,619
- Feb 15, 2009 8:50pm Feb 15, 2009 8:50pm
- | Joined Nov 2007 | Status: Trader | 1,839 Posts
It's got some buyers at 130, seems like a difficult support to fall through, but I still see 127!!! I'm no physic though lol.
4 hr gann