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

  • #161,641
  • Feb 20, 2009 10:59am Feb 20, 2009 10:59am
Quoting NathanSim
Only good for scalp now. Don't like the PA.

not sure if you are newer trader or now .. but those buys were right at channel top ... they got you .... I would rather sit ouf of trade than try to buy at a channel top for a breakout
Blogging daily now at www.volume.zone
  • #161,642
  • Feb 20, 2009 11:03am Feb 20, 2009 11:03am
Quoting NwFXenthsist
man your a beast at this day trading, its not normal ...i sat there and looked at that trade and i was like nope its gonna blow past it and keep going. and of course reverses and goes down haha
I have about 70 % wins only .... I let the losers go quickly and some trades I just let them pass me by

the day trading thing is about risk / ,money management and waiting for the right trade set up
Blogging daily now at www.volume.zone
  • #161,643
  • Feb 20, 2009 11:04am Feb 20, 2009 11:04am
Quoting malcolmb14
open range high .... 773 .. allow 2 point to make sure we get clear breakout ....
Dear,
What you mean by ES ???
  • #161,644
  • Feb 20, 2009 11:05am Feb 20, 2009 11:05am
If ES bounces off low of day we could be setting up for long here off daily pivot 134.57 , break down of ES i think we see bottom of channel 134
Blogging daily now at www.volume.zone
  • #161,645
  • Feb 20, 2009 11:12am Feb 20, 2009 11:12am
what happened to the dollar,good thing i was short on UJ
  • #161,646
  • Feb 20, 2009 11:12am Feb 20, 2009 11:12am
Quoting khaled22
Dear,
What you mean by ES ???

Es is s&p emini futures
Blogging daily now at www.volume.zone
  • #161,647
  • Feb 20, 2009 11:14am Feb 20, 2009 11:14am
Quoting sometospend
what happened to the dollar,good thing i was short on UJ

not sure but look like goodd short opp to me gu ..

I only trade GJ .. was long off daily pivot 1/2 off at top of range at 135.20 and moved stop +20 other half
Blogging daily now at www.volume.zone
  • #161,648
  • Feb 20, 2009 11:18am Feb 20, 2009 11:18am
Quoting malcolmb14
not sure but look like goodd short opp to me gu ..

I only trade GJ .. was long off daily pivot 1/2 off at top of range at 135.20 and moved stop +20 other half
when a big move like that happens is that a sign of institutional selling/buying
  • #161,649
  • Feb 20, 2009 11:25am Feb 20, 2009 11:25am
My favorite setups to trade are ascending and descending triangles. Based on the chart, I will be looking to short between the 50 and 61.8 Fib areas.

Have a good weekend all.

B
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  • #161,650
  • Feb 20, 2009 11:27am Feb 20, 2009 11:27am
Quoting sometospend
when a big move like that happens is that a sign of institutional selling/buying

could be ... but when you get high volume up moves like that always look for a short as the pros will be looking to sell into the strength

note on 5 min on the UJ we got the high vol down candle .. but then an even higher one on the next candle .. this is likely buyers on the weakness

pros are not like some of the trader in here(like the guy buying at top of range earlier) .... they only buy on weakness and sell on rallies . However if they are very bullish or bearish they will force prices through support / resistance with good impulsive moves and then if there is no reaction to those high volume impulsive moves in the opposite direction you will be able to see what the pros are thinking / sentiment
Blogging daily now at www.volume.zone
  • #161,651
  • Feb 20, 2009 11:31am Feb 20, 2009 11:31am
Quoting malcolmb14
could be ... but when you get high volume up moves like that always look for a short as the pros will be looking to sell into the strength

note on 5 min on the UJ we got the high vol down candle .. but then an even higher one on the next candle .. this is likely buyers on the weakness

pros are not like some of the trader in here(like the guy buying at top of range earlier) .... they only buy on weakness and sell on rallies . However if they are very bullish or bearish they will force prices through support / resistance with good impulsive moves...
Since I dont have the experience of working at a broker or anything I can't say for sure what happened. However, I have to agree with you Malcomb. I have seen this too many times and the old me would have been stopped out and reversed positions. Now when I see these without big news, I wait it out. I do assume they are testing the market, SL's etc. Almost like trying to trigger an avalanche. Seems like it failed..?? Anyway, whatever happened, I got in on a killer G/U short

B
  • #161,652
  • Feb 20, 2009 11:32am Feb 20, 2009 11:32am
took some courage ... but the long wicks on the 5 min suggested sellers off top of my channel .. took another little short. ..

I think this one target daily pivot only

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  • #161,653
  • Feb 20, 2009 11:35am Feb 20, 2009 11:35am
Quoting bigcoupe
Since I dont have the experience of working at a broker or anything I can't say for sure what happened. However, I have to agree with you Malcomb. I have seen this too many times and the old me would have been stopped out and reversed positions. Now when I see these without big news, I wait it out. I do assume they are testing the market, SL's etc. Almost like trying to trigger an avalanche. Seems like it failed..?? Anyway, whatever happened, I got in on a killer G/U short

B


nice one ..... we will make a day trader of you yet ...lol
Blogging daily now at www.volume.zone
  • #161,654
  • Feb 20, 2009 11:40am Feb 20, 2009 11:40am
Quoting malcolmb14
nice one ..... we will make a day trader of you yet ...lol
im very new to this so im stiking with the 4h and 30m or 15m,thanks for the replys,also malcom your fibo piv daily's great
  • #161,655
  • Feb 20, 2009 11:46am Feb 20, 2009 11:46am
The move was due to the expiry of US and Canadian options. It was apparently supposed to be a quiet one and not have much effect but that was proven wrong.

Edit: Whoops, missed the post malcomb posted. I am just repeating basically what he posted. Sorry.
  • #161,656
  • Feb 20, 2009 12:12pm Feb 20, 2009 12:12pm
Quoting malcolmb14
took some courage ... but the long wicks on the 5 min suggested sellers off top of my channel .. took another little short. ..

I think this one target daily pivot only

Attachment


1.2 off , stop =20 other half .... ES breaking down into critical level 750 .. there is osme talk of below 750 she goes into free fall ....

keeping gj sell for now with target 134
Blogging daily now at www.volume.zone
  • #161,657
  • Feb 20, 2009 12:29pm Feb 20, 2009 12:29pm
Quoting malcolmb14
1.2 off , stop =20 other half .... ES breaking down into critical level 750 .. there is osme talk of below 750 she goes into free fall ....

keeping gj sell for now with target 134

closed out 133.75 .... do not want to be greedy ..why 133.75 .. easy it is a daily fib pivot and the move down in the ES looks a little overdone.

We get a late day bounce in ES we could see the daily pivot again .

hope some of my postings help those interested in day trading. I do not mean to take up the forum ....


I like what i see in UJ ... seems the options expired and now we can can get back to business as normal .. when markets go down Uj goes down

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  • #161,658
  • Feb 20, 2009 12:34pm Feb 20, 2009 12:34pm
Malco i see what u mean I see that the option expirey too. So in this case would you rather wait or jump back in on the overall trend which is up on UJ's case
  • #161,659
  • Feb 20, 2009 12:36pm Feb 20, 2009 12:36pm
malcolmb,

can u start a thread and teach how you trade??? u seem to really grasp the moves very well. come on teach us! i mean spell it out clearly can u...
  • #161,660
  • Feb 20, 2009 12:47pm Feb 20, 2009 12:47pm
Quoting hwsv07
malcolmb,

can u start a thread and teach how you trade??? u seem to really grasp the moves very well. come on teach us! i mean spell it out clearly can u...


err ... I cannot teach how I trade ... a lot of what i do is ' feeling ' it is watching the price action and the overall market conditions and understanding how market mechanics work. Note i only mentioned an indicator once today . Half the time i do not even look at them . To trade the way I trade you throw all the fundies out the window and just trade what the price action on the chart shows you. Look for ranges ( range traidng is by far the very best way to trade once you get used to it )

The calls i made today were simply becuase as mentioned in one of my 1st posting of the morning the range is 135,10 to 134 .. it really is that simple at times .. no fancy indicators required. if you have a daily pivot in the middle of the range as we do today you have to look for any support on that , as we had , and make sure that from the top of the range to the DP there is enough room to pay the broker and make some profit ( there was about 50 pips)

i have been trading for 6 years ... at least 10,000 chart hours.

I mean es tanks 20 points .... she got to bounce i would have thought.

I am not right all the time ... only about 65 to 70 % ,.. but I manage the stop losses.
Blogging daily now at www.volume.zone
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