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

  • #167,641
  • Edited 5:09pm Mar 26, 2009 4:56pm | Edited 5:09pm
i think it moving to downside after international lost confidence with sterling inflation data release by yesterdayhttp://www.forexfactory.com/images/icons/icon9.gif
  • #167,642
  • Mar 26, 2009 5:00pm Mar 26, 2009 5:00pm
all these currency worries are already priced in.... this price action is saying everything. a break of the neckline at 141, retest, then bounce off key fibo levels as it powers higher. what more could you ask for in defining a trend
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  • #167,643
  • Mar 26, 2009 5:05pm Mar 26, 2009 5:05pm
Quoting sinned
the bounce of 142 is a perfect 61.8% fibo retracement from a to b. just sayin for shorts to be careful....
On the other hand, it smacked off the 61.8 of the retrace of the move down, 143 area
  • #167,644
  • Mar 26, 2009 5:07pm Mar 26, 2009 5:07pm
I agree with that... its kinda stuck between 142 & 143.50 for the time being. A definitive break of either could really be huge.
  • #167,645
  • Mar 26, 2009 5:09pm Mar 26, 2009 5:09pm
Quoting sinned
all these currency worries are already priced in.... this price action is saying everything. a break of the neckline at 141, retest, then bounce off key fibo levels as it powers higher. what more could you ask for in defining a trend

err.... how do you know what and whats not been priced into the market? I'd also caution you about defining a "trend". Alot of people were using that term to justify their longs at 257, 241, and 215. This is GJ we're talking about, she can flip and kill anyone, anytime she wants to.
  • #167,646
  • Mar 26, 2009 5:13pm Mar 26, 2009 5:13pm
turn on cnbc and the first thing you hear is the failed treasury auction, banking system collapse, etc etc. I'm not saying its a long term bullish trend, but with the pessimism present and the fact it moves higher.... it just seems like a no brainer: it wants to go higher

of course it can do anything it wants to lol
  • #167,647
  • Mar 26, 2009 5:15pm Mar 26, 2009 5:15pm
Quoting sinned
the bounce of 142 is a perfect 61.8% fibo retracement from a to b. just sayin for shorts to be careful....
142 with a double test was nice place for short on 15 min chart ... it is also the vwap for today and lower value area of yesterday .... sellers in this area
Blogging daily now at www.volume.zone
  • #167,648
  • Edited 5:27pm Mar 26, 2009 5:17pm | Edited 5:27pm
Quoting sinned
the bounce of 142 is a perfect 61.8% fibo retracement from a to b. just sayin for shorts to be careful....
japan very active today
  • #167,649
  • Mar 26, 2009 5:28pm Mar 26, 2009 5:28pm
i'll be looking to go long on a retest of 142 with a tight stop.... i'm exhausted from the moves this week and can't wait for the weekend
  • #167,650
  • Mar 26, 2009 5:39pm Mar 26, 2009 5:39pm
Its gotta be running ragged on the nerves of the short sellers though LOL
"Millionaires don't use astrology, billionaires do"
  • #167,651
  • Mar 26, 2009 5:47pm Mar 26, 2009 5:47pm
Quoting OrionsWay
Its gotta be running ragged on the nerves of the short sellers though LOL

gj ranging my fav .. uppper value area of yeterday into 142.20 area ... cannot complain with an 80 pip range , in third trip for today ....

yup for sure she is playing on my nerves .. not sure what I am going to do with the money i am making by selling her ...lol

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  • #167,652
  • Mar 26, 2009 5:49pm Mar 26, 2009 5:49pm
there we go...long at 142.25 with a stop of 141.75

target price 10 million GBP/JPY, lol
  • #167,653
  • Mar 26, 2009 5:56pm Mar 26, 2009 5:56pm
60 min

not sure whay you all saying sellers should be scared ... longs should be scared if anything .. price has been under it high volume pivot all day = sellers not buyers !!!

also 14 wma is forming resistance on 60 min .

we are in what looks to be a bull flag in the bigger picture though , but until we head down to 141 / 140 and see exhaustion of the down move i owuld not get to excited about a break to the upside.

in the mean time enjoy the ranging conditions ... gj is giving about 500 pips a day in ranges right now.

very nice of her to close the sell and pick up next long off 142.25 ... what a range

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  • #167,654
  • Mar 26, 2009 6:07pm Mar 26, 2009 6:07pm
Quoting sinned
there we go...long at 142.25 with a stop of 141.75

target price 10 million GBP/JPY, lol


hahaa gotta love it
"Millionaires don't use astrology, billionaires do"
  • #167,655
  • Mar 26, 2009 6:10pm Mar 26, 2009 6:10pm
Quoting malcolmb14
gj ranging my fav .. uppper value area of yeterday into 142.20 area ... cannot complain with an 80 pip range , in third trip for today ....

yup for sure she is playing on my nerves .. not sure what I am going to do with the money i am making by selling her ...lol

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You make it sound just soooo easy Malcolm
"Millionaires don't use astrology, billionaires do"
  • #167,656
  • Mar 26, 2009 6:15pm Mar 26, 2009 6:15pm
Quoting OrionsWay
You make it sound just soooo easy Malcolm
I have my days when i get hammered .... and can do nothing right.

seems today the volume areas set up on yesterdays histogram have been adheredto and have shown the range fraily well

this 10 min chart shows them better

UVA = upper value area
POC = high vol point of control
LVA = lower value area
and VWAP = volume weighted pivot .

the red lines are yesterday's session and show me where the volume pivots and possible areas of s/r are ... kind of like your supply / demand lines

just been lucky today

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  • #167,657
  • Mar 26, 2009 6:19pm Mar 26, 2009 6:19pm
Quoting OrionsWay
You make it sound just soooo easy Malcolm
Malcolmb is an expert for trading ranges with VSA, unbelievable talent. I wonder if he would open a class for us
  • #167,658
  • Mar 26, 2009 6:22pm Mar 26, 2009 6:22pm
Quoting mktjong
Malcolmb is an expert for trading ranges with VSA, unbelievable talent. I wonder if he would open a class for us

did you go into shamuss free vsa chat room ? he has thread on here

I drop by in the mornings (us session) for an hour or so
Blogging daily now at www.volume.zone
  • #167,659
  • Mar 26, 2009 6:25pm Mar 26, 2009 6:25pm
Quoting malcolmb14
did you go into shamuss free vsa chat room ? he has thread on here

I drop by in the mornings (us session) for an hour or so
Where is it? Thanks.
( I mean, is it still in FF here? I rarely pay any attention to chat room nor trading room :-( )
  • #167,660
  • Mar 26, 2009 6:32pm Mar 26, 2009 6:32pm
Hello Mal,
Since you are genius on VSA, I noticed you r using esignal service, do you recommend newbie to use this service? I heard esignal has many good indicators (vsa). So far I don't see any good vsa indy for mt4 platform. May be I did not find one. Thanks in advance.
Andrew
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