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

  • #176,581
  • May 12, 2009 7:04am May 12, 2009 7:04am
Quoting OrionsWay
Obi what is it your are looking for in this volume figure, the exact number as in a figure, I always thought volume = level of participation in its relativity to the prior bars before it and then using that information observed to analyse that which is at hand. This whole i need exact info is nonsense, Knowing what happened prior to and what happend atm and the gauge is Volume and OHLC this is all the information a person needs. Everything is relative
Yes but I think he is referring to last weeks volume being 2-3 times higher on daily than any week this year (on other forex pairs too). I asked about this a few days ago, I thought it might just be affecting demo accounts but it seems not.
  • #176,582
  • May 12, 2009 7:05am May 12, 2009 7:05am
Quoting uksnowman
Yes but I think he is referring to last weeks volume being 2-3 times higher on daily than any week this year (on other forex pairs too). I asked about this a few days ago, I thought it might just be affecting demo accounts but it seems not.

OK so what does this mean ?
"Millionaires don't use astrology, billionaires do"
  • #176,583
  • May 12, 2009 7:07am May 12, 2009 7:07am
Quoting OrionsWay
Obi what is it your are looking for in this volume figure, the exact number as in a figure, I always thought volume = level of participation in its relativity to the prior bars before it and then using that information observed to analyse that which is at hand. This whole i need exact info is nonsense, Knowing what happened prior to and what happend atm and the gauge is Volume and OHLC this is all the information a person needs. Everything is relative
This is a very good point. Any volume analysis has to be regarded as a relative reading rather than absolute.

There are lots of people profitably using MT4 volume from various sources, so it can't be completely useless.
  • #176,584
  • May 12, 2009 7:07am May 12, 2009 7:07am
Quoting pipsbull
Heads up, for you guys:
broadening top on g/j 4hr chart
Because broadening tops are very large reversal patterns, the technical implications are usually extreme. The measured target is derived by subtracting the height of the pattern from the eventual breakout level.
That's what i saw last week

remember this?
Quoting Eulogy
I'm gonna go out on a limb here.

This is the broadening wedge i saw earlier and the subsequent targets if it breaks the LTL at around 146, down to 141 to 135

Mid-Long term outlook

<attached thumbnails>
nice that we're seeing the same thing
  • #176,585
  • May 12, 2009 7:13am May 12, 2009 7:13am
The 4hr Gann and now QQE have both crossed up. Bullish bias for me if I see price get above the 1hr 5sma.
  • #176,586
  • May 12, 2009 7:30am May 12, 2009 7:30am
Quoting ukdaytrader
This is a very good point. Any volume analysis has to be regarded as a relative reading rather than absolute.

There are lots of people profitably using MT4 volume from various sources, so it can't be completely useless.
bro,you have no idea..for fxlion to be screaming volume,then there's plenty of money from it..
Imanuel Parsifal
  • #176,587
  • May 12, 2009 7:40am May 12, 2009 7:40am
Quoting forexlion
from 148.91 volume started dropping on 1 hour chart

at 149.57 i entered 5 shorts 5x1 lots.

so my take is that from 148.91 the big doggs stopped buying and its the retail traders who get slaughtered on low volume thinking this will go up more.

and i will get my 150 pips on the short

what .... i thought volume was s**t and for scalpers .....

you watch one video and now you are a volume expert ??/ lol ..... stop trading and read that book i told you about .. do not be lazy
Blogging daily now at www.volume.zone
  • #176,588
  • May 12, 2009 7:40am May 12, 2009 7:40am
Quoting DutchTrader
You're going to laugh even harder when E/U hits 1.37
Looks like EU wants to go back to 1.40
Patience + Humility + Study = Success
  • #176,589
  • May 12, 2009 7:41am May 12, 2009 7:41am
Quoting forexlion
from 148.91 volume started dropping on 1 hour chart

at 149.57 i entered 5 shorts 5x1 lots.

so my take is that from 148.91 the big doggs stopped buying and its the retail traders who get slaughtered on low volume thinking this will go up more.

and i will get my 150 pips on the short

just cause they stop buying does not mean they are selling . you have to look for signs of distribution that will show they are selling . In fact on a 5m in there are signs they are buying
long off 148.42
Blogging daily now at www.volume.zone
  • #176,590
  • May 12, 2009 7:43am May 12, 2009 7:43am
Quoting ukdaytrader
That's really impressive as none of the broker platforms I use reached there.

I was just thinking the same thing

gtis feed on esignal went to 149.48 and that was on wick of candle liekly one tick
Blogging daily now at www.volume.zone
  • #176,591
  • May 12, 2009 7:43am May 12, 2009 7:43am
Once the PA breaks out of the Red box than there should be a clear bias direction where GJ wants to go..

Attached Image (click to enlarge)
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[
  • #176,592
  • May 12, 2009 7:49am May 12, 2009 7:49am
Quoting rgitt05
Once the PA breaks out of the Red box than there should be a clear bias direction where GJ wants to go..

Hello

Please tell me what are those arrows on your chart ...

I realy do like it..

Can you sand me your template to check a bit?!

Regards
Work smart not hard
  • #176,593
  • May 12, 2009 7:50am May 12, 2009 7:50am
Quoting rgitt05
Once the PA breaks out of the Red box than there should be a clear bias direction where GJ wants to go..


watching the flag formation 15 min

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY3MIN120.png Size: 183 KB
Blogging daily now at www.volume.zone
  • #176,594
  • May 12, 2009 7:57am May 12, 2009 7:57am
Quoting rgitt05
Once the PA breaks out of the Red box than there should be a clear bias direction where GJ wants to go..

better be down bro..coz i really wann slain something
Imanuel Parsifal
  • #176,595
  • May 12, 2009 7:58am May 12, 2009 7:58am
Quoting Tiagoacc
As the support is confirmed my bet is now 148,3, and then we might come a little bit up, but the main overview, for me, its bear (weekly)

As i said we touched the resistance at 148,3. now we might bounce up again to the blue channel line and then drop down
{Promotion Removed}
  • #176,596
  • May 12, 2009 7:59am May 12, 2009 7:59am
Quoting Eulogy
That's what i saw last week

remember this?


nice that we're seeing the same thing
I see, but at the same time this pattern needs to be broken and waiting for a break may be frustraiting, but it is for sure smthing to keep in mind. For the record, when pound was forming the broadening bottom below 1,4 it had like 4-5 touches. And as of now the TL are widening so it can just stay in there for a while
  • #176,597
  • May 12, 2009 8:02am May 12, 2009 8:02am
Hi Malcolm,

Quick VSA question (if no one minds...), on your 15 min chart I see that the uptrend looks relatively strong, so if volume increases as price moves with the trend and then it decreases when price goes into a correction, we could see another push up?

Thanks



[quote=malcolmb14;2728111]watching the flag formation 15 min
  • #176,598
  • May 12, 2009 8:07am May 12, 2009 8:07am
If the Gold breaks the R1, than GJ should shoot back up...

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  • #176,599
  • May 12, 2009 8:17am May 12, 2009 8:17am
[quote=Sarandon;2728142]Hi Malcolm,

Quick VSA question (if no one minds...), on your 15 min chart I see that the uptrend looks relatively strong, so if volume increases as price moves with the trend and then it decreases when price goes into a correction, we could see another push up?

Thanks



Quoting malcolmb14
watching the flag formation 15 min

yes kind of , it is a little more complicated tha n that.

we have seen buying in the background overnight , then a correction . That big red volume bar indicates heavy buying on a doji ay 148.40. That is the 1st sign that maybe price will break out of flag .

But you have to wait for reaction to that , not always just rush in on 1st indication of weakness or strength you get.

volume is not as simple as most think it is to grasp . it takes time and a lot of charting , but worth putting the effort in .

forexlion was asking me for volume ' indicators ' and he saw one video so is ready to trade using volume .... it is not that simple. It took me 6 months to learn and I am an experienced trader and a smart guy with an IQ of 3 .....lol
Blogging daily now at www.volume.zone
  • #176,600
  • May 12, 2009 8:19am May 12, 2009 8:19am
morning everyone...

looks like a turnaround tuesday..baby...

just chilling...having a coke... at mo..still long as usual.....

added longs off the last drop ...looking to add more if pa breaks 149.80 zone

happy pippin
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