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

  • #164,521
  • Mar 8, 2009 4:58pm Mar 8, 2009 4:58pm
Quoting PracticalPip
Currently trading at about the 139.00 level, looks like a bit of a gap up.
yeah....thinking 3920/40 area....then a drop again.

i'm looking for a one hour close above this area to go long.
else shorts it is.
--post hoc ergo propter hoc--
  • #164,522
  • Mar 8, 2009 5:06pm Mar 8, 2009 5:06pm
Quoting england33
bit of a bid tone.. surprising. we'll see what happens further out..
avoid till tokyo open, u will be safer, plus by that time we will have some liquidity

by the way, shorting is the best bet
  • #164,523
  • Mar 8, 2009 5:40pm Mar 8, 2009 5:40pm
Quoting Obaidah
i hope you answer this when you have a chance, in the following chart we had a shake-out (1) on very high volume and on (2) we had a no demand sign and on (3) we had a test for that shake-out area on high volume, so according to VSA it should've dropped or start ranging because there's selling at that area, but it shot up .. why was that?


candle 1 is a failed attempt to go down not really a shake out

it is more of a failed down move:

A rapid price move on wide spreads down, on high volume (especially if closing low), is a sign of weakness (i.e. Effort to go down). However, this type of action causes the market to become rapidly oversold and vulnerable to up-moves. If the next day (or hour) is up, it must show that there was buying as well as selling contained in the high volume down-move (no results from the effort). This shows that the brakes are being applied to the falls at the moment

then buyers met the high vol down bar ... pushing her up

the no demand bar that you had in there is true .... but see that there was no selling reaction to this bar , not all no demand bars will signify a reversal , specifically not with a block on the effort to drops just 4 or 5 bars back. VSA is all about looking what has happened in the background
Blogging daily now at www.volume.zone
  • #164,524
  • Mar 8, 2009 5:52pm Mar 8, 2009 5:52pm
Quoting forexlion
avoid till tokyo open, u will be safer, plus by that time we will have some liquidity

by the way, shorting is the best bet
i think i'll take your advice. patients is the best policy.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #164,525
  • Mar 8, 2009 6:00pm Mar 8, 2009 6:00pm
Yep, agree, GJ short unless it blows through major weekly and daily resistance of 139. Got a gap to fill too around 138.50 area.
  • #164,526
  • Mar 8, 2009 6:08pm Mar 8, 2009 6:08pm
Quoting BANDA
Hi Friends
How are you all? Hope you guys are ready for this weeks price action...... Could anybody help me with ..........how to post VT (CMS Visual trader) charts to this thread? Thank you all in advance
Happy trading
This should get you started . . .

http://www.forexfactory.com/showthread.php?t=155661
  • #164,527
  • Mar 8, 2009 6:12pm Mar 8, 2009 6:12pm
Quoting malcolmb14
candle 1 is a failed attempt to go down not really a shake out

it is more of a failed down move:
got it, thanks
I recommend you read something else as this sentence is now concluded.
  • #164,528
  • Mar 8, 2009 6:21pm Mar 8, 2009 6:21pm
morning everyone....

looking forward to a good week....baby

just have that feeling we may just range all month..so i'm ready for some whipsaw action...

one scenario i'm looking at is a visit to the 136 area and then up she goes...or

a visit to 133.70 area...then a good bounce up..

If i see a close below the 136 area...i will hedge all my longs to 133.70...

let's see what the daily bar tells us....

happy hunting ...baby
  • #164,529
  • Mar 8, 2009 6:22pm Mar 8, 2009 6:22pm
Hey Pips......
Thank you very much for the info. Happy piping !



Quoting Pips_Cruiser
This should get you started . . .

http://www.forexfactory.com/showthread.php?t=155661
BANDA333
  • #164,530
  • Mar 8, 2009 6:23pm Mar 8, 2009 6:23pm
Quoting Big Bruv
morning everyone....

looking forward to a good week....baby

just have that feeling we may just range all month..so i'm ready for some whipsaw action...

one scenario i'm looking at is a visit to the 136 area and then up she goes...or

a visit to 133.70 area...then a good bounce up..

If i see a close below the 136 area...i will hedge all my longs to 133.70...

let's see what the daily bar tells us....

happy hunting ...baby


I love range baby .... the best way to add 50 % to account one week ...lol
Blogging daily now at www.volume.zone
  • #164,531
  • Mar 8, 2009 6:36pm Mar 8, 2009 6:36pm
Quoting malcolmb14
I love range baby .... the best way to add 50 % to account one week ...lol
malc i am now using your fib level indicators for range trading..(demo) and so far its looking promising...i intend to use it..live trading from today if we do look like we range...baby

but great stuff...you really can increase your equity very quickly...the trick i discovered is cutting losses very quickly.
  • #164,532
  • Mar 8, 2009 6:49pm Mar 8, 2009 6:49pm
Quoting Big Bruv
malc i am now using your fib level indicators for range trading..(demo) and so far its looking promising...i intend to use it..live trading from today if we do look like we range...baby

but great stuff...you really can increase your equity very quickly...the trick i discovered is cutting losses very quickly.
welcome to my world baby ... try it on eu during US session .. only 1-2 pip spread .... some days if you get 5 trades of 50 pip with 1.5 % risk per trade you can do 10 % or more on account
Blogging daily now at www.volume.zone
  • #164,533
  • Mar 8, 2009 6:54pm Mar 8, 2009 6:54pm
Quoting malcolmb14
welcome to my world baby ... try it on eu during US session .. only 1-2 pip spread .... some days if you get 5 trades of 50 pip with 1.5 % risk per trade you can do 10 % or more on account

will do...baby
  • #164,534
  • Mar 8, 2009 6:54pm Mar 8, 2009 6:54pm
Quoting malcolmb14
welcome to my world baby ... try it on eu during US session .. only 1-2 pip spread .... some days if you get 5 trades of 50 pip with 1.5 % risk per trade you can do 10 % or more on account
ok so where's the info on how to use it ?
  • #164,535
  • Mar 8, 2009 6:57pm Mar 8, 2009 6:57pm
Quoting malcolmb14
welcome to my world baby ... try it on eu during US session .. only 1-2 pip spread .... some days if you get 5 trades of 50 pip with 1.5 % risk per trade you can do 10 % or more on account
hi,

can you talk more about that, please? =)
  • #164,536
  • Mar 8, 2009 7:19pm Mar 8, 2009 7:19pm
Quoting Big Bruv


just have that feeling we may just range all month..so i'm ready for some whipsaw action...
that's a distinct possibility. good luck with your trades!
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #164,537
  • Mar 8, 2009 7:19pm Mar 8, 2009 7:19pm
Quoting Jack Herer
hi,

can you talk more about that, please? =)
guys best thing you can do is probably click on the milky bar kids name go through his posts and read up a little he does explain his trading system ( scalping ) nearly every day - one off the most helpful guys you could meet but sometimes you have to do a little digging yourself

all the best
  • #164,538
  • Mar 8, 2009 7:33pm Mar 8, 2009 7:33pm
Quoting pipmyride
ok so where's the info on how to use it ?
heres the fib levels to get you started when we have a ranging market watch
prices between the fib areas and how they are respected
its probably one off the hardest ways off trading mentally so make sure your up for it


good luck
Attached File(s)
File Type: mq4 FiboPiv_Daily_DK.mq4   16 KB | 355 downloads
  • #164,539
  • Mar 8, 2009 7:35pm Mar 8, 2009 7:35pm
Is today market low liquidity?
  • #164,540
  • Mar 8, 2009 7:39pm Mar 8, 2009 7:39pm
not sure about low liquidity since NK is open but this move is generated by Cable. would've expected UJ to move but not GU
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