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

  • #166,081
  • Mar 17, 2009 11:31am Mar 17, 2009 11:31am
Quoting quecee5
Even bigger picture on 5min chart. . . See it just takes a bit of DD to start seeing things. . . Start drawing on the charts and you'll be seeing it in no time. Also, post a chart so the thread can critique it. . .
Honestly Q, I don't dare to trade this range without excellent understanding of VSA.
  • #166,082
  • Mar 17, 2009 11:34am Mar 17, 2009 11:34am
Quoting quecee5
Drilling down on 5min for entry/exits - PRICELESS! -

Very big support at 138:
bottom of the triangle,
hourly 50ema,
23,6%R
DP
&almost forgot - 4hr Gann
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  • #166,083
  • Mar 17, 2009 11:34am Mar 17, 2009 11:34am
Quoting alokin
Hi malcomb,piters, and the rest.. i have one question that i would like to ask you all....

I am a little bit confused about cross currencies such as gbp/jpy,the question is about technical analysis on cross currencies...since gbp/jpy quote is derived from both usd/jpy and gbp/usd and the movement of gj is 100% dependant of the movements in uj and gu (i read that is the way banks create quote on gj), doesn't that mean that, if we want to trade gj we should do technical analysis on usd/jpy and gpb/usd, and then see how to trade gj regardles of analysis...
currently we are observing absolutely new market state, which is extraordinary imbalanced; all crosses diverged from their regular behaviors; as well as precious metals: gold usually USD reversely mirrored in value and now it is not; EUR - usually reversed USD but now not; gold diverged from silver and platinum as well;
USD, EUR and GOLD is moving north TOGETHER!
correlation between UJ and GJ does not work now as well as GU, so each pair now behaves like completely independent animal reveiling own character
So please don't stick to your previous teaching or practice and adapt yourself to the new reality, which still has tendency to huge crash in order to reload original settings
  • #166,084
  • Mar 17, 2009 11:40am Mar 17, 2009 11:40am
Quoting mktjong
Honestly Q, I don't dare to trade this range without excellent understanding of VSA.
Precisely bro! Don't know which way it will break! Very risky for those who aren't as savvy as some. . .

That's why sometimes it best to sit on your hands and wait for price to break-out one way or another. Which typically happens without warning. . .

But as stated to each his/her own. . .
  • #166,085
  • Mar 17, 2009 11:41am Mar 17, 2009 11:41am
Im a newbie,and have been following this great threads some couples of days back,and its awesome.A big Kudos to all proffessional traders in the house.Im using this medium to commend you all on this great feats.Kindly keep it up.
Looking up to learn from you all.
  • #166,086
  • Mar 17, 2009 12:04pm Mar 17, 2009 12:04pm
Quoting quecee5
Even bigger picture on 5min chart. . . See it just takes a bit of DD to start seeing things. . .
Start drawing on the charts and you'll be seeing it in no time. Also, post a chart so the thread can critique it. . .

C'mon get started bro - post them charts!
q and mal,

please provide me some guidance here. i look at the 5 min but i can't drill it down.

1st x - high vol down bar; strength
2nd x - likewise
but i dun get it for the 3rd and 4rd x.

how did u determine?

thanks.
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  • #166,087
  • Mar 17, 2009 12:06pm Mar 17, 2009 12:06pm
Quoting quecee5
Precisely bro! Don't know which way it will break! Very risky for those who aren't as savvy as some. . .

That's why sometimes it best to sit on your hands and wait for price to break-out one way or another. Which typically happens without warning. . .

But as stated to each his/her own. . .
137.97 level's holding well, maybe FMOC will give the bulls a cause? Stay tuned.....
Patience + Humility + Study = Success
  • #166,088
  • Mar 17, 2009 12:10pm Mar 17, 2009 12:10pm
Quoting DutchTrader
137.97 level's holding well, maybe FMOC will give the bulls a cause? Stay tuned.....
yes and 4hr chart working itself out of OB by sideways trading. . . a dip to 37.30 to 36.50 should present a gd buying opportunity. . .
  • #166,089
  • Mar 17, 2009 12:17pm Mar 17, 2009 12:17pm
I'm feeling a break-out to the north.. the 1 hour chart is trending up, respecting the 50 EMA, now if we could just stop being rejected at the daily pivot, we'll be on the way..

Cheers
  • #166,090
  • Mar 17, 2009 12:23pm Mar 17, 2009 12:23pm
Quoting quecee5
yes and 4hr chart working itself out of OB by sideways trading. . . a dip to 37.30 to 36.50 should present a gd buying opportunity. . .
looking @ 15 min chart.

drop from 140 to 138 looks to be A wave.
from there til now (sideway) looks to be B wave.
C wave is to be expected to travel same amount of distance that A wave has traveled. that puts us right to 137-136 area.
  • #166,091
  • Mar 17, 2009 12:24pm Mar 17, 2009 12:24pm
Quoting hwsv07
q and mal,

please provide me some guidance here. i look at the 5 min but i can't drill it down.

1st x - high vol down bar; strength
2nd x - likewise
but i dun get it for the 3rd and 4rd x.

how did u determine?

thanks.
sorry I don't trade using VSA analysis. . .
  • #166,092
  • Mar 17, 2009 12:24pm Mar 17, 2009 12:24pm
Quoting pkimnyc
looking @ 15 min chart.

drop from 140 to 138 looks to be A wave.
from there til now (sideway) looks to be B wave.
C wave is to be expected to travel same amount of distance that A wave has traveled. that puts us right to 137-136 area.
seems like the b wave is going through a heavy correction, no trading value for me.
  • #166,093
  • Mar 17, 2009 12:27pm Mar 17, 2009 12:27pm
Quoting pkimnyc
looking @ 15 min chart.

drop from 140 to 138 looks to be A wave.
from there til now (sideway) looks to be B wave.
C wave is to be expected to travel same amount of distance that A wave has traveled. that puts us right to 137-136 area.
Yes sirrrrrrrrrrr!
Been eyeing it as a TP for my short position and looking to flip long in that area unless PA tells me otherwise. . .
  • #166,094
  • Mar 17, 2009 12:34pm Mar 17, 2009 12:34pm
Quoting direct-trade
...and look how the 9th Feb 4 hourly turned into daily reversal candle formation. Looking for this 4 hourly to do the same. Looking for tomorrow to end in Doji. Tuesday close at 13150 area, Weds-Fri towards 12750. Once Daily in alignment with 4hr and weekly, well...we shall see.

Well I see a Daily Doji....its a day late, but I am patient

Phase 1 complete.

Phase 2: 13150 and bounce

Phase 3: 12750

See you all down South!

Speed of decline later this week? Lead balloon springs to mind lol
  • #166,095
  • Mar 17, 2009 12:37pm Mar 17, 2009 12:37pm
Quoting direct-trade
Well I see a Daily Doji....its a day late, but I am patient

Phase 1 complete.

Phase 2: 13150 and bounce

Phase 3: 12750

See you all down South!

Speed of decline later this week? Lead balloon springs to mind lol
good luck. don't forget to send us a post card when you get there (j/k).
  • #166,096
  • Mar 17, 2009 12:51pm Mar 17, 2009 12:51pm
Quoting pkimnyc
good luck. don't forget to send us a post card when you get there (j/k).
Sure, I have just the card in mind lol...
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  • #166,097
  • Mar 17, 2009 12:51pm Mar 17, 2009 12:51pm
Quoting pkimnyc
good luck. don't forget to send us a post card when you get there (j/k).
  • #166,098
  • Mar 17, 2009 12:57pm Mar 17, 2009 12:57pm
Quoting quecee5
sorry I don't trade using VSA analysis. . .
i see it's ok q. i see if malcolmb can help here.

thanks. but i would be curious to know how you did the drilling on the 5min.
  • #166,099
  • Mar 17, 2009 1:06pm Mar 17, 2009 1:06pm
Quoting quecee5
Drilling down on 5min for entry/exits - PRICELESS! -
and for everything else there is Mastercard.....
Blogging daily now at www.volume.zone
  • #166,100
  • Mar 17, 2009 1:12pm Mar 17, 2009 1:12pm
Quoting malcolmb14
and for everything else there is Mastercard.....

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