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

  • #179,221
  • May 25, 2009 10:23pm May 25, 2009 10:23pm
Quoting Raza
Another Drop should be happening soon after 4 Hr candle.. will try to short from 150.72.. depending on PA. 15M 50ema
This is true, there is DP also, and as long it is below 1hr Gann, shorts are safe imho. Yen turned bearish and will support the down pressure after a few hours, not ready yet. But this down move may be bought rapidly. I have short in Pound, and as long as 1,593 holds, 1,578 has to be touched
  • #179,222
  • May 25, 2009 10:24pm May 25, 2009 10:24pm
Quoting thewasp
Not even sure what that is.

I don't know for sure, as no one knows completely, but if a survey was done of all major CB's, IB's and HF traders in sterlingyen, from whom I know and what I do know after 15 years, I would be willing to bet that support and resistance comes out the highest percentage, with MA's, Gann, fibs, ichimoko etc coming in a very tiny amount of regularity.


I would have to agree with the exception of fibs. They account for a good bit of my profits.
History is written by the victors.
  • #179,223
  • May 25, 2009 10:27pm May 25, 2009 10:27pm
Quoting Piters
ok, bro as you said, it is your money, do what you think is the best.. there are PPL with technical analysis, news trader, fundies..
As long your approach makes you a money that's fine...
That depends! I trade to make money but I wouldn't and couldn't do it for that reason alone. It's the challenge of really getting the essence and in tune with the markets that keep me intrigued and passionate to put in the time. Any system with sensible MM can make money, that's easy.

Quoting Piters
Still I have to say: for PPL who follow charts, there are s/r levels where PA respects those, and each pair is different storry..

Ema50 and GannHiLO [10] statisticaly are very close to Pound pairs, GU, GY.. You can read something more about if you start reading the begining of this thread. Fibonacci, Pivots, Gann, MM lines are different story.

Noone moves because of those lines, but they are using them as a levels.. They respect and stop on those lines.. they place TP, SL orders on those levels.. same as trend lines... that is like banker's...
Yes, bankers language as in, ''the majority of newbies and dumb money will have their stops just under their, its common practise... easy money for them...''

Quoting Piters
Otherwise, tell me WHY pa respects TL and patterns like wedges, or H/S, or daily/weekly trendlines [TL]
Coincidence. wedges and triangles are buyers and sellers changing quicker and quicker until an explosion is imminent and a H/S is a high, push higher, then failure to reach highs; sellers taking over (or vica versa) but how often do they really work?

Quoting Piters
*They play between the levels
contrary to how it may seem, I am not arguing, I am trying to have healthy debate in what works best and see if I can learn more. Sure, we could all make money, but what is a forum for if not bouncing ideas, debating, suggesting and dismissing different views to get to be the best.

In my view, all you need is the candles and a few horizontal lines for key levels of supply and demand but like I say, I'm always curious.... Live calls alone are boring!
Ignorance, is blatantly, bliss.
  • #179,224
  • May 25, 2009 10:27pm May 25, 2009 10:27pm
Quoting pipsbull
This is true, there is DP also, and as long it is below 1hr Gann, shorts are safe imho. Yen turned bearish and will support the down pressure after a few hours, not ready yet. But this down move may be bought rapidly. I have short in Pound, and as long as 1,593 holds, 1,578 has to be touched
Yes bro,

techicaly

  1. UY is on way to complete this wave to 93.3 - 91.5;
  2. GU is aslo toppy and about to retrace.. [retracement mode too]
  3. GY having a retrace of F382 from last asia drop, from 151.32 and the F382 goes to DPP
  4. Double top on daily, projecting us next stop at 148.30

  • #179,225
  • May 25, 2009 10:32pm May 25, 2009 10:32pm
Quoting pipsbull
This is true, there is DP also, and as long it is below 1hr Gann, shorts are safe imho. Yen turned bearish and will support the down pressure after a few hours, not ready yet. But this down move may be bought rapidly. I have short in Pound, and as long as 1,593 holds, 1,578 has to be touched

Daily pivot was at and is at 150.14... Which DP are you talking about...
Markets are not Random, they are designed!
  • #179,226
  • May 25, 2009 10:33pm May 25, 2009 10:33pm
Cable 15 min: Scalp: bband extremity / stock oversold / rsx turning up

Plus stopping volume noted (high spread, high volume bar)
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  • #179,227
  • May 25, 2009 10:33pm May 25, 2009 10:33pm
Quoting Money-RX


I would have to agree with the exception of fibs. They account for a good bit of my profits.
Have you ever put on your fibs, then compared with obvious S/R levels? Uncannily similar 99% of the time.
Ignorance, is blatantly, bliss.
  • #179,228
  • May 25, 2009 10:41pm May 25, 2009 10:41pm
Quoting Piters
Yes bro,


techicaly

  1. UY is on way to complete this wave to 93.3 - 91.5;
  2. GU is aslo toppy and about to retrace.. [retracement mode too]
  3. GY having a retrace of F382 from last asia drop, from 151.32 and the F382 goes to DPP
  4. Double top on daily, projecting us next stop at 148.30


Posted a Chart earlier projecting same target 148.92--60.
Markets are not Random, they are designed!
  • #179,229
  • May 25, 2009 10:43pm May 25, 2009 10:43pm
Quoting Raza
Daily pivot was at and is at 150.14... Which DP are you talking about...
Well, the Daily Pivot is at 150,73 on my side. Note: brokers may have'em different: my 1st one has @ above level, 2nd-150,69.
  • #179,230
  • May 25, 2009 10:43pm May 25, 2009 10:43pm
Quoting thewasp
Have you ever put on your fibs, then compared with obvious S/R levels? Uncannily similar 99% of the time.
That pretty much summarizes my trading along with some MA's still on the charts from long ago.
History is written by the victors.
  • #179,231
  • May 25, 2009 10:45pm May 25, 2009 10:45pm
Quoting thewasp

In my view, all you need is the candles and a few horizontal lines for key levels of supply and demand but like I say, I'm always curious.... Live calls alone are boring!
thewasp, there are many people like you use naked trading and are sucesful. i think its an art. but there is also people that are sucsesful using indicators which is also an art. indicators are all historicly based just like s/r points. and should not be taken as absalute certainty. just a posibilty thats highly likely. cheers... and debate is healthy.
  • #179,232
  • May 25, 2009 10:48pm May 25, 2009 10:48pm
Quoting GodfreyH
Cable 15 min: Scalp: bband extremity / stock oversold / rsx turning up

Plus stopping volume noted (high spread, high volume bar)
bro, i look at your chart and see how volume drops, when price is climbing, that is in my consideration...
  • #179,233
  • May 25, 2009 10:48pm May 25, 2009 10:48pm
cool bro.. NP.. your money..

all retail traders are only 3-10% of the whole pool of money floating daily on FX markets. They dont care about me or you bro.. they are even not seeing you as a participant.. You trade behind your broker.

learn about patterns, you may find some interesting stuff there.. Yes patterns are hidden bankers language.. they push, buy/sell up to those levels. Nothing is coincidence, noone is trading there with big money with coincidence.. all is demand/supply.
If it's so hard for you to accept patterns and Trend lines as S/R levels, then you shouldnt talk with my dear friend Orions Way, about planetary aspects, tides, business cycles,..ect,,,

All counts mate. all counts,
we, me, you are developing our trading systems, and if we follow those (ours) systems (even with simple MA cross), in time we'll find all good and weak points. You filter, polish your system and make it perfect. You trade only when your system makes you money, and you are out when statisticaly your system gives you bad trades. That is what we do.. Jumping from one system to another system is the BIGGEST MISTAKE traders are doing, as they are not dedicating enough time to develop and polish the system.

So noone system is bullet proof or holy grail, they act different in different market conditions. [Range, trend and counter trend.] Spending enough time in front of your monitors and watching the market and your system will develop you a skills to recognize the conditions, and the weak/ good points of your system...

P.S.

Also, trading naked bro, doesn't makes you a better trader.. It is only your personal choise...
I know a guy trading only with Trendlines and patterns, and YES he is making a lot's of money..
I know a guy trading only 2 emas, and YES he is making a lot of money too
I know a guy who trades with bunch of indicators, and YES, he is doig well too..
I know a lot of guys who are changing their indicators everythime someone post a new one on NET.. and ask them honestly how much they are making.
Mindset and your developed skills behind your system is what makes you GOOD or BAD in trading..
  • #179,234
  • May 25, 2009 10:51pm May 25, 2009 10:51pm
Quoting Piters
cool bro.. NP.. your money..

all retail traders are only 3-10% of the whole pool of money floating daily on FX markets. They dont care about me or you bro.. they are even not seeing you as a participant.. You trade behind your broker.

learn about patterns, you may find some interesting stuff there.. Yes patterns are hidden bankers language.. they push, buy/sell up to those levels. Nothing is coincidence, noone is trading there with big money with coincidence.. all is demand/supply.
If it's so hard for you to accept patterns and Trend lines Jumping from one system to another system is the BIGGEST MISTAKE ...

talking to ow about that ...., better not....
Attached Image
  • #179,235
  • May 25, 2009 10:53pm May 25, 2009 10:53pm
Quoting Raza
Another Drop should be happening soon after 4 Hr candle.. will try to short from 150.72.. depending on PA. 15M 50ema

Most of the time, we will see GJ drop during London time. Seldom it happen at asian session.
  • #179,236
  • May 25, 2009 10:58pm May 25, 2009 10:58pm
this is critical now. if price closes this hour up past 150.47 (yelow line 20sma) "posibile" we head back up looking back each time the candle crossed 20 sma and imediatly closed back above it, it continues up.

but if we close below 50ema (green doted line) 150 32 i think its probible,we head down toward 100 sma at least which is 149.59.
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  • #179,237
  • May 25, 2009 11:01pm May 25, 2009 11:01pm
[quote=Piters;2756028]cool bro.. NP.. your money..


All counts mate. all counts,
we, me, you are developing our trading systems, and if we follow those (ours) systems (even with simple MA cross), in time we'll find all good and weak points. You filter, polish your system and make it perfect. You trade only when your system makes you money, and you are out when statisticaly your system gives you bad trades. That is what we do.. Jumping from one system to another system is the BIGGEST MISTAKE traders are doing, as they are not dedicating enough time to develop and polish the system.

quote]


I agree with you bro, most of the time the system consistent proven and could make money, the problem is came from traders who are lack of discipline. They enter the trade (long) when the market totally OB and they enter short when market totally OS. They don't feel the market it self. Discipline one of the factor beside having poor trading strategy (system).
  • #179,238
  • May 25, 2009 11:06pm May 25, 2009 11:06pm
Quoting rgitt05
You could be right...If the 150 holds, than I will long from that area

whats at 150? is it because its a round number or do you see something else there. cheers
  • #179,239
  • May 25, 2009 11:10pm May 25, 2009 11:10pm


Quoting Piters
cool bro.. NP.. your money..

all retail traders are only 3-10% of the whole pool of money floating daily on FX markets. They dont care about me or you bro.. they are even not seeing you as a participant.. You trade behind your broker.

learn about patterns, you may find some interesting stuff there.. Yes patterns are hidden bankers language.. they push, buy/sell up to those levels. Nothing is coincidence, noone is trading there with big money with coincidence.. all is demand/supply.
If it's so hard for you to accept patterns and Trend lines...
Attached Image
[
  • #179,240
  • May 25, 2009 11:13pm May 25, 2009 11:13pm
Quoting Macedonia
whats at 150? is it because its a round number or do you see something else there. cheers
Gann 4h mate. we bounce a bit.. maybe to Dpp or higher
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