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

  • #175,481
  • May 7, 2009 12:27pm May 7, 2009 12:27pm
am so gonna sell the cribs out of g/j..!! some body better start begging me..
Imanuel Parsifal
  • #175,482
  • May 7, 2009 12:29pm May 7, 2009 12:29pm
Quoting Estero
hey Mal, who assassinated JFK?
read this

http://www.snopes.com/history/americ...ln-kennedy.asp
  • #175,483
  • May 7, 2009 12:29pm May 7, 2009 12:29pm
Quoting malcolmb14
not sure about that !!!! they just want my ' system ' so they can make money..lol

there is no system , other than understanding the way markets work and watching price action. Once a trader understands that then they will be very good.

I mean for exmalpe . s and p has dropped 27 points almost since open. Why would anyone be wanting to long gj (no offence intended for those that have)? even if it is a retrace up. The best thing is to trade laong side the smart money not against. The smart money is not buying today they are selling . So far any...
i seem to have a habit of deciding to join the party and go short, just at the point it decides to turn up because i was too late, or I wait because I know im late, then i think its turning up so go long only to watch it continue to tank. im clearly not looking at the right things lol
  • #175,484
  • May 7, 2009 12:30pm May 7, 2009 12:30pm
hi ewokuk

I have noticed in your chart that you are using RSI 14

Price raising but the RSI not moving up correspondingly signifies further fall in price

You can draw trend line in RSI connecting recent high and see whether it breaks the trend line before entering the trade
  • #175,485
  • May 7, 2009 12:31pm May 7, 2009 12:31pm
Quoting forexlion
read this

http://www.snopes.com/history/americ...ln-kennedy.asp
somehow I knew you would eventualy jump in my face. lol
  • #175,486
  • May 7, 2009 12:35pm May 7, 2009 12:35pm
Quoting harigp
hi ewokuk

I have noticed in your chart that you are using RSI 14

Price raising but the RSI not moving up correspondingly signifies further fall in price

You can draw trend line in RSI connecting recent high and see whether it breaks the trend line before entering the trade
yeah but check the chart, i drew red lines showing macd, zerolag macd, and rsi all trending up at the point i went long off the DB on the R1 line at 12:45 GMT
  • #175,487
  • May 7, 2009 12:39pm May 7, 2009 12:39pm
Quoting vinesh2
Syco, whats your view on EU. Now that we have convincingly broken 1.3 area? Do you see it breaking thru highs of March
this would sound weird,but according to my fibs analysis,my long term target should be 1.2882area,but 1st am looking at 1.3331-1.3310,if thats taken out then 1.3244,then 1.3209..but i see it going south strongly..a fibs chart below to help...
Attached Image (click to enlarge)
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Imanuel Parsifal
  • #175,488
  • May 7, 2009 12:41pm May 7, 2009 12:41pm
Let see whether GJ will break H4 Gann or not.....but I believe GJ manage to break H4 Gann.....if break then we will see GJ will going down at least to fibo 38.2 (146.47) - 50.0 (144.91)....I hope GJ could touch fibo 61.8 too before continue to north pole
  • #175,489
  • May 7, 2009 12:43pm May 7, 2009 12:43pm
Quoting harigp
hi ewokuk

I have noticed in your chart that you are using RSI 14

Price raising but the RSI not moving up correspondingly signifies further fall in price

You can draw trend line in RSI connecting recent high and see whether it breaks the trend line before entering the trade

is amazes me that traders have indicators but they do not know how to use them

His rsi kissed 50 and turned down instantly .. that is nice lpce for sell

many in here have got the rsx indicator i use as one tool . NOT ONE PERSON has mentioned a trade using what it is best for. It is like having a power drill and then trying to use like a hand drill by turning it around to drill a hole instead of turning it on .

now every one is going to ask me what the rsx is best for ..... I ma not going to mention it. But one dozen donuts to the first trader, that asked for it and has it on their charts, that can tell me what rsx is best used for
Blogging daily now at www.volume.zone
  • #175,490
  • May 7, 2009 12:46pm May 7, 2009 12:46pm
Hi ewo

See this chart
Attached Image (click to enlarge)
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  • #175,491
  • May 7, 2009 12:51pm May 7, 2009 12:51pm
Quoting vinesh2
Syco, whats your view on EU. Now that we have convincingly broken 1.3 area? Do you see it breaking thru highs of March
also there is lot of room for the upside..if we can retest 1.3466 area and break higher,then we definately are going to be seeing 1.3737..though we have to wait till like mid week of next week to know where she will take the long term direction...am thinking if g/j n u/j are going to test the lows againg at 118,89 area then e/u definatel go up to 100%fibs 1.3737..what's your own take on it
Attached Image (click to enlarge)
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Imanuel Parsifal
  • #175,492
  • May 7, 2009 12:51pm May 7, 2009 12:51pm
A popular method of analyzing the RSI is to look for a divergence in which the security is making a new high, but the RSI is failing to surpass its previous high. This divergence is an indication of an impending reversal. When the Relative Strength Index then turns down and falls below its most recent trough, it is said to have completed a "failure swing". The failure swing is considered a confirmation of the impending reversal.
  • #175,493
  • May 7, 2009 12:54pm May 7, 2009 12:54pm
Quoting Networx
Since we have not completed the current fib cycle that we are in, please do watch 146.53 as a strong support. ...If we stay above 145.68 be careful of shorting. Once we break that level then safe to enter shorts...
The 1 hour cycle we've been in has been completed. To see what I'm talking about fib high at 148.31 and low 145.68 on 5/01. You will see without having moved it till now the proper breakouts and retracements. Now that we have completed the cycle move your fib to high 150.86 and low 148.68 of today 5/07. There are 2 possibilities. If we hit and exceed 147.33 then we have completed the cycle, and our new one begins. If we do not reach our full extension and tag back just a pip above 150.86 then we can be confident it will head north. Hope this helps...

www.youtube.com/profitfromforex
  • #175,494
  • May 7, 2009 12:54pm May 7, 2009 12:54pm
I would like to see a break of Weekley 50 ema before any long direction. Current PA suggests that EU is taking a breather and going to range for a little bit. We may get another touch of today's highs during Asia but to break it we will need the NFP to be good. If NFP comes out bad then it might get pulled back all the way down to 1.32. I agree that we might not see a nice pull back up till next week. As for today we are done till Asian session.
  • #175,495
  • May 7, 2009 12:56pm May 7, 2009 12:56pm
Quoting harigp
Hi ewo

See this chart
yeah it was down if you take it from the top but i was just looking at the 2 bottoms and divergence from 1st bottom at 11 gmt to the 2nd at 12:40. between those 2 bottoms the rsi had started trending back up even though PA had not (and the divergence on the zerolag is huge which is really what made me take notice)
  • #175,496
  • May 7, 2009 1:03pm May 7, 2009 1:03pm
Quoting sycho
hello guyz am getting some bearish signal build up on my strategy here..if it comes into works am lookin at 200pips south 1st to 146 area,if 4hrly follows thats 400pips more to 144-142....till 139and below..let's see how she plays out
look's like she is already playin out ...have got 10 pips locked in..let's see her destination...am targeting 147.32-146.54 area
Imanuel Parsifal
  • #175,497
  • May 7, 2009 1:04pm May 7, 2009 1:04pm
Quoting ewokuk
yeah it was down if you take it from the top but i was just looking at the 2 bottoms and divergence from 1st bottom at 11 gmt to the 2nd at 12:40. between those 2 bottoms the rsi had started trending back up even though PA had not (and the divergence on the zerolag is huge which is really what made me take notice)

indicators generally suck (sorry for those that use them)... in a day like today use the indicators on a 5 min chart but if yiu have to use them trade in the direction of the 15 min trend.

do not go against the 15 min. What I do is plot a 14 sma .. Price is under this on a 15 min only sell the rallies.

price will reatrce on a 5m in ecvery so often , all the better to close your short trade , WAIT FOR THE REATRCE, and get back into the short 50 pips high ., i did just that just not on drop 148.8 to 148.2

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #175,498
  • May 7, 2009 1:06pm May 7, 2009 1:06pm
something does not smell right ... why a 27 point in the ES???? i do not see news

I smell mark down ..

banks will pass stress test and we see gj up 300 pip in asia ..... very possible
Blogging daily now at www.volume.zone
  • #175,499
  • May 7, 2009 1:07pm May 7, 2009 1:07pm
Quoting ewokuk
I entered a long earlier based on multiple bottoms, divergence, uptrend, and bounce off daily Fib R1.....and failed completely. not getting anywhere at the moment. did i miss something completely or was it just bad luck or what?

need to work out something simple to grab me 5-10 trades a day with good success rate, what im doing at the moment clearly isnt right
That was a flag buddy ... a bear flag. Specially than sharp bear candle at the end should have been warned you about bears are going to continue.

You better study "chart patterns" beside vsa and s/r fib levels. Knowing how to trade chart pattens is a must for a serious trader.

Here is a good source. I learned a lot about them in there. Take a look.
Discipline + Patience - Fear - Greed = Success
  • #175,500
  • May 7, 2009 1:12pm May 7, 2009 1:12pm
Quoting malcolmb14
indicators generally suck (sorry for those that use them)... in a day like today use the indicators on a 5 min chart but if yiu have to use them trade in the direction of the 15 min trend.

do not go against the 15 min. What I do is plot a 14 sma .. Price is under this on a 15 min only sell the rallies.

price will reatrce on a 5m in ecvery so often , all the better to close your short trade , WAIT FOR THE REATRCE, and get back into the short 50 pips high ., i did just that just not on drop 148.8 to 148.2

Attachment
malc..a sure go hold you to pay insurances,when they burn there finger's in this advanced game of use,coz no way am giving them back the pip's i took from there.better have that 8figure acc waitin
Imanuel Parsifal
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