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

  • #180,401
  • Jun 1, 2009 12:29pm Jun 1, 2009 12:29pm
166.00 is the target on the weekly. That's the reversal zone imvho. That was also the 2008 high after the fall to the 118 area.
Patience + Humility + Study = Success
  • #180,402
  • Jun 1, 2009 12:36pm Jun 1, 2009 12:36pm
Quoting currencyexch
Congratulations!!! That's great

Now you are elected to give the tip of the day. I'm not being sarcastic here. Obviously you saw something or you're luckier then hell
I know this wasn't directed at me , but just to point out a couple of things which may assist you in the future. Now this is admittedly after the fact because I don't trade gbp/yen. Why? The daily average range is not that much better than cable and I deal with way less drama and spread.

It would seem to me that there was support at what is now the pivot point. I would imagine that if one were to be looking for a short on Sunday then a bar close below this area would be prudent.

On the long side, hour rsx, clearly , signalled an uptrade, even the 4hr rsx was up. Also the heiken ashi bars were blue, no short was likely to materialize until these turned red.
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  • #180,403
  • Jun 1, 2009 12:57pm Jun 1, 2009 12:57pm
Quoting mima
Does anyone knows if there is MT4 platform broker that has dollar index besides DJI..SP500..?

Thank you

Try fxpro.com the only MT4 platform with stocks
"He who is well prepared has won half the battle"
  • #180,404
  • Jun 1, 2009 12:57pm Jun 1, 2009 12:57pm
Quoting GodfreyH
I know this wasn't directed at me , but just to point out a couple of things which may assist you in the future. Now this is admittedly after the fact because I don't trade gbp/yen. Why? The daily average range is not that much better than cable and I deal with way less drama and spread.

It would seem to me that there was support at what is now the pivot point. I would imagine that if one were to be looking for a short on Sunday then a bar close below this area would be prudent.

On the long side, hour rsx, clearly , signalled an uptrade,...
I thank you and the short idea was dumb as I saw the chart but thought a correction was in order and blew the opportunity and the stayed in the retracement mode which burned me and never materialized. I should have trusted the chart. That said it would appear thought that the long green bars now on th chart may represebt alot of emotional buying and perhaps a correction is now in order. The one concern I have is, are amateurs able to carry the market that high so fast. Seems unlikely but these bars might indicate that that is in fact what happened. Certainly tomorrow will tell a story.
  • #180,405
  • Jun 1, 2009 1:04pm Jun 1, 2009 1:04pm
A classical higher close on hourly since London open
  • #180,406
  • Jun 1, 2009 1:07pm Jun 1, 2009 1:07pm
Quoting mima
Does anyone knows if there is MT4 platform broker that has dollar index besides DJI..SP500..?

Thank you
check fxpro or odlmarket.com
MY OPINION NOT FINANCIAL ADVISE
  • #180,407
  • Jun 1, 2009 1:11pm Jun 1, 2009 1:11pm
Quoting Peterex
Try fxpro.com the only MT4 platform with stocks

Thank you . I have them but I couldnt recognize Dollar index there...
The Market pays you to be disciplined
  • #180,408
  • Jun 1, 2009 1:13pm Jun 1, 2009 1:13pm
I was told by a mentor that if Bill Gates sold everything he had and put it all in the market that he could not move it one direction or the other this is big international banks,currency cartels, etc.I was also told that BOA has a person taking a million dollars of profit off about every 5 minutes.
The forex is huge.
  • #180,409
  • Edited 1:18pm Jun 1, 2009 1:17pm | Edited 1:18pm
I have the area in mind, which is in black circle, for a possible short opportunities for this and next week, with the SL above the upper red line. Why is this area significant to me:
fib projection - 1,618(check the PA @ 0,618 & 1,0)
fib retracement - 0,618
in this area is also another 0,50 fib retr off the highs
But, in case it is broken, then the way to 1,776 monthly 50ema is open.
However, on the next chart is fibo time, where I see no significant drop untill the first week of july(1,382)
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  • #180,410
  • Jun 1, 2009 1:35pm Jun 1, 2009 1:35pm
Quoting mima
Thank you . I have them but I couldnt recognize Dollar index there...

fxpro code there index so if u want to see it right click in the quote click symbol and go into the index or future u will see every instrument there
MY OPINION NOT FINANCIAL ADVISE
  • #180,411
  • Jun 1, 2009 1:47pm Jun 1, 2009 1:47pm
Quoting donfriday
fxpro code there index so if u want to see it right click in the quote click symbol and go into the index or future u will see every instrument there

Fxpro doesnt have dollar index. Thanks.
The Market pays you to be disciplined
  • #180,412
  • Jun 1, 2009 1:47pm Jun 1, 2009 1:47pm
just wondering whether we are seeeing first signs of real distribution on cable?

after initial rise in the morning you can observe pretty high volume candles with low ranges closing closer to bottom.

then volume went down and prices continued drifting higher which is lack of demand according to VSA. it is more obvious on 15min chart but 1h chart also gives first signs of selling. i think we are nearing the top of this current run and my projection is that i can spike through 1.65 area and then quickly go down in asia.

this is futures volume by the by.
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  • #180,413
  • Jun 1, 2009 1:49pm Jun 1, 2009 1:49pm
As I have posted in an earlier post, we have completed the weekly Fib that we were in as you can see in attached picture. To give an idea of where price may reach and area to look for possible topping off at I've attached the following Daily picture of a Fib that I've been saying we are in, and this last week has confirmed. Hope this helps...

www.youtube.com/profitfromforex
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  • #180,414
  • Jun 1, 2009 2:00pm Jun 1, 2009 2:00pm
no. no signs of distribution yet. lack of volume in this case = pros are not interested atm.

Quoting lexazver
just wondering whether we are seeeing first signs of real distribution on cable?

after initial rise in the morning you can observe pretty high volume candles with low ranges closing closer to bottom.

then volume went down and prices continued drifting higher which is lack of demand according to VSA. it is more obvious on 15min chart but 1h chart also gives first signs of selling. i think we are nearing the top of this current run and my projection is that i can spike through 1.65 area and then quickly go down in asia.

this is futures volume...
Nihil Sine Deo.
  • #180,415
  • Jun 1, 2009 2:16pm Jun 1, 2009 2:16pm
I'm intrigues that the pair has not fallen off that much from the high. Suspect it is not done moving to the UTL of daily chart
around 166
  • #180,416
  • Jun 1, 2009 2:21pm Jun 1, 2009 2:21pm
if anyone is wondering what is the reason for today's crazy rally, well, it looks like big sharks wanted a better price for their long positions. and it looks like they still have some ammunition, because i do not see any signs of distribution yet.
when big guys will have closed most of their longs (and it's WHEN, not IF) and started to open shorts, we'll see that specific range... typical for a distribution at the top - you know, that slow market that hunts everyone's stops... irrational behavior... no apparent direction... top tests on low volume + bottom tests on high volume... same thing on DIFFERENT TIMEFRAMES.
alright. just don't bet on shorts, at least not yet. there will be plenty on the short side, but at the right time.
Nihil Sine Deo.
  • #180,417
  • Jun 1, 2009 2:23pm Jun 1, 2009 2:23pm
Quoting Scrat
if anyone is wondering what is the reason for today's crazy rally, well, it looks like big sharks wanted a better price for their long positions. and it looks like they still have some ammunition, because i do not see any signs of distribution yet.
when big guys will have closed most of their longs (and it's WHEN, not IF) and started to open shorts, we'll see that specific range... typical for a distribution at the top - you know, that slow market that hunts everyone's stops... irrational behavior... no apparent direction... top tests on low volume...
one of the rare post I print out and stick on the wall
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,418
  • Jun 1, 2009 2:34pm Jun 1, 2009 2:34pm
Quoting Peterex
Try fxpro.com the only MT4 platform with stocks

you took a long sabatical?
"Millionaires don't use astrology, billionaires do"
  • #180,419
  • Jun 1, 2009 2:46pm Jun 1, 2009 2:46pm
this market is full of no demand and no selling pressure bars, there've been some narrow bars with high volume, maybe we're going to build distribution phase here, we must wait and see what the market tells us.

edit: the market is not going to tell us on M5 chart lol .. i prefer to look at higher timeframs looking for signs.
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I recommend you read something else as this sentence is now concluded.
  • #180,420
  • Jun 1, 2009 3:01pm Jun 1, 2009 3:01pm
Quoting Obaidah
this market is full of no demand and no selling pressure bars, there've been some narrow bars with high volume, maybe we're going to build distribution phase here, we must wait and see what the market tells us.

edit: the market is not going to tell us on M5 chart lol .. i prefer to look at higher timeframs looking for signs.
really enjoying your volume ea. good stuff man . . .
"Don't trade to trade . . . trade to win." - James16
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