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

  • #180,441
  • Jun 1, 2009 7:32pm Jun 1, 2009 7:32pm
Quoting Scrat
forgive me, but what does today's london close have to do with shorts opened on July 2007?
Sorry just thinking what you said made sense. A trend reversal means open trades are being closed (hopefully for profit). Therefore extending that thought, GJ has trended down since July so wondered if the present apparent trend reversal suggests the same.
  • #180,442
  • Jun 1, 2009 7:35pm Jun 1, 2009 7:35pm
no, not academic. just observations.
sorry to hear about your losses; you need to move on and learn from your mistakes and you'll be just fine.
patience and hard work = success.

Quoting BANDA
Your observations are so academic and for lousy wanna be a trader like me can learn immensely from your input.............thank you so much friend ..........I am so sad I lost big time life hasn't been not good to me at all lately............I am happy at least some of you have cashed in with green pips....... I always thought failures will be pillars for success.....but in this endeavor........I am feeling as if I am chasing a mirage ,,,,,,,,,
Nihil Sine Deo.
  • #180,443
  • Jun 1, 2009 7:41pm Jun 1, 2009 7:41pm
but in your case you're dealing with monthly/yearly trends. i was talking about short/medium term direction, more like daily swings.
opening/closing moments of major sessions are very important and must be carefully monitored. but this doesn't influence in any way a monthly/yearly trend - which is what you see since July 2007.

Quoting janela
Sorry just thinking what you said made sense. A trend reversal means open trades are being closed (hopefully for profit). Therefore extending that thought, GJ has trended down since July so wondered if the present apparent trend reversal suggests the same.
Nihil Sine Deo.
  • #180,444
  • Jun 1, 2009 7:44pm Jun 1, 2009 7:44pm
Quoting Scrat
but in your case you're dealing with monthly/yearly trends. i was talking about short/medium term direction, more like daily swings.
opening/closing moments of major sessions are very important and must be carefully monitored. but this doesn't influence in any way a monthly/yearly trend - which is what you see since July 2007.
Thanks for correcting my thinking. Appreciate your kind responses even if my suggestion is dumb.
  • #180,445
  • Jun 1, 2009 7:58pm Jun 1, 2009 7:58pm
Quoting Obaidah
the sign of "pros" is often seen as high and increasing volume, thats definitely not what we had in the last up move so i dont think the statement "pro's have their longs ON after the 38.2% at 155.86 has been cleared" is valid , the signs of "no pros" however, is seen in low volume and rolling over market and thats exactly what we have right now.
If this is not done by pro then could it be cause by a person or group who have tons of money or was it caused by goverment manipulation or intervention?
  • #180,446
  • Jun 1, 2009 8:00pm Jun 1, 2009 8:00pm
Quoting AbgZuhaini
If this is not done by pro then could it be cause by a person or group who have tons of money or was it caused by goverment manipulation or intervention?
malcolmb is better suited to answer questions related to volume, and keep in mind that i could be wrong (that happens alot lol) ... mark up by market makers appears on wide spread and low volume.
I recommend you read something else as this sentence is now concluded.
  • #180,447
  • Jun 1, 2009 8:12pm Jun 1, 2009 8:12pm
Quoting Obaidah
malcolmb is better suited to answer questions related to volume, and keep in mind that i could be wrong (that happens alot lol) ... mark up by market makers appears on wide spread and low volume.

I found this on the other thread http://trading-u.com/blog/index.php/...s/date/2009/06 which explain why GU going up so high. It was a control move. Who press the long button? anyone?
  • #180,448
  • Jun 1, 2009 8:28pm Jun 1, 2009 8:28pm
Quoting Obaidah
the sign of "pros" is often seen as high and increasing volume, thats definitely not what we had in the last up move so i dont think the statement "pro's have their longs ON after the 38.2% at 155.86 has been cleared" is valid , the signs of "no pros" however, is seen in low volume and rolling over market and thats exactly what we have right now.

pros hate buying tops ..... lol .... they leave that for us chickens , so statement pros long at 156 does not make sense. Pors have been buying since 143 liekly stopped at 150 and general market euphoria has carried pair higher

I have seen signs of distribution last 4 or 5 sessions. Todays up move was on low volume. I am looking forward to the rest of the week to see how this week plays out.
Blogging daily now at www.volume.zone
  • #180,449
  • Jun 1, 2009 8:30pm Jun 1, 2009 8:30pm
Quoting AbgZuhaini
I found this on the other thread http://trading-u.com/blog/index.php/...s/date/2009/06 which explain why GU going up so high. It was a control move. Who press the long button? anyone?
That would explain the EU move aswell. on other subject trading with out MM can sometime be really rewarding tho.
  • #180,450
  • Jun 1, 2009 8:35pm Jun 1, 2009 8:35pm
Quoting malcolmb14
pros hate buying tops ..... lol .... they leave that for us chickens , so statement pros long at 156 does not make sense. Pors have been buying since 143 liekly stopped at 150 and general market euphoria has carried pair higher

I have seen signs of distribution last 4 or 5 sessions. Todays up move was on low volume. I am looking forward to the rest of the week to see how this week plays out.
and for me i'll keep my eyes real wide to see if there's someone left to finance the US government debt, bearish reaction to any bad news out of America would give us a nice sign about the investors sentiment, if this scenario plays out i'll be buying yen like a big player
I recommend you read something else as this sentence is now concluded.
  • #180,451
  • Jun 1, 2009 8:49pm Jun 1, 2009 8:49pm
Malcomb,

Normally how many sessions does it take for the distribution process to be over?Is that a reasonable question?
  • #180,452
  • Jun 1, 2009 8:56pm Jun 1, 2009 8:56pm
Quoting fxgrnwise
Malcomb,

Normally how many sessions does it take for the distribution process to be over?Is that a reasonable question?

500 pip move up ... last 24 hours , I think we may still see more. Just a hunch

Unless something major comes out seems gj forming a flag on 15 min
Blogging daily now at www.volume.zone
  • #180,453
  • Jun 1, 2009 9:47pm Jun 1, 2009 9:47pm
maybe it's dumb, but i was thinking that small fish like us cannot move the trend - it must be the pros who are still distributing their loads and pushing prices higher.
as i said, london boys didn't take their profits, so the fun should still be on. but... we'll see.

Quoting malcolmb14
pros hate buying tops ..... lol .... they leave that for us chickens , so statement pros long at 156 does not make sense. Pors have been buying since 143 liekly stopped at 150 and general market euphoria has carried pair higher

I have seen signs of distribution last 4 or 5 sessions. Todays up move was on low volume. I am looking forward to the rest of the week to see how this week plays out.
Nihil Sine Deo.
  • #180,454
  • Jun 1, 2009 10:08pm Jun 1, 2009 10:08pm
A new thread? That will be good.. I still have a lot to learn.
  • #180,455
  • Jun 1, 2009 10:44pm Jun 1, 2009 10:44pm
Quoting Obaidah
i totally agree but the idea is that there was no signs of accumulation before this move, the other thing that made me confused is that this high volume upbar (see the chart below) closing off the highs with the other bar almost level was followed by decreasing volume and narrow range trading area, that bar has probably contained selling, I cant judge the current situation before we see what will happen in tokyo.
i picked this up earlier,end of last week,taught it look like accumulation to me....
Attached Image (click to enlarge)
Click to Enlarge Name: gjhigh.gif Size: 21 KB
Imanuel Parsifal
  • #180,456
  • Jun 1, 2009 11:55pm Jun 1, 2009 11:55pm
let's see if price can break 159.30 area or it is going to test the median line of channel(154.50).

trade safe
Attached Image (click to enlarge)
Click to Enlarge Name: geppy0602.gif Size: 21 KB
  • #180,457
  • Jun 2, 2009 12:00am Jun 2, 2009 12:00am
Quoting malcolmb14
500 pip move up ... last 24 hours , I think we may still see more. Just a hunch

Unless something major comes out seems gj forming a flag on 15 min

Wow, I was thinking with such a push up of 500 pips within the last 24 hours, we would get a pull back. However, as we all know the market is not logical, and it will do what is not expect.
  • #180,458
  • Jun 2, 2009 12:24am Jun 2, 2009 12:24am
Quoting forexlion
My Long target for this month and some part of June.

162.69

this post was made at the time when this thread was full of people shorting GJ, and someone slammed me for taking a long.

well thats life.

carry on the good work folks.
  • #180,459
  • Jun 2, 2009 12:29am Jun 2, 2009 12:29am
and not to forget we are still in 162.69 run up, the chart is attached in the post referenced above

for today:

we should bounce off 158.19 and stay above it, but should it break then a good buying level is above 157.48.
  • #180,460
  • Jun 2, 2009 12:29am Jun 2, 2009 12:29am
Quoting forexlion
this post was made at the time when this thread was full of people shorting GJ, and someone slammed me for taking a long.

well thats life.

carry on the good work folks.
You also said the trend is not your friend.
Carry on the good work.
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