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

  • #180,821
  • Jun 4, 2009 7:30am Jun 4, 2009 7:30am
Quoting forexian
You are right Raza. Everything was there on the charts for the drop, but they needed a reason
Its like saying... hmm.. lets just start the day where we left off... at market close. yesterday at 4-5.pm.

Lets play again.
Markets are not Random, they are designed!
  • #180,822
  • Jun 4, 2009 7:31am Jun 4, 2009 7:31am
Quoting Geeza.kb
This is a lesson that all trades you have open should have a stop in place, saying that the last move would have at least got you out but where .... who knows

The drop blew right by my stops that I had on AUD/USD and took an additional 60 pip hit
  • #180,823
  • Jun 4, 2009 7:33am Jun 4, 2009 7:33am
Quoting Geeza.kb
This is a lesson that all trades you have open should have a stop in place, saying that the last move would have at least got you out but where .... who knows
Turns out to be rumour. Rumour unfounded but does the price reverse - no. All the trends and charts and indi's count for nothing.

Dead right about stops
  • #180,824
  • Edited 7:52am Jun 4, 2009 7:41am | Edited 7:52am
Quoting janela
Turns out to be rumour. Rumour unfounded but does the price reverse - no. All the trends and charts and indi's count for nothing.

Dead right about stops
Everything counts,,,except BS news.. most of the time..

I spotted this 7 Hrs Ago.

Sorry didnot get back to your question about Divergence..

At the time you were seeing Bearish in all time frames..To me when I called for Bullish diversion.. Bearish diversion had already played out..It needs practice to figure it out at the right time.

G/J is super bearish now!!
Markets are not Random, they are designed!
  • #180,825
  • Jun 4, 2009 7:54am Jun 4, 2009 7:54am
Quoting Raza
Everything counts,,,except BS news.. most of the time..

I spotted this 7 Hrs Ago.

Sorry didnot get back to your question about Divergence..

At the time you were seeing Bearish in all time frames..To me when I called for Bullish diversion.. Bearish diversion had already played out..It needs practice to figure it out at the right time.

G/J is super bearish now!!
Have difficulty accepting this. The change over 4 TF does not happen in minutes. Its irrelevant now but I was discussing this with Mal at the time and we assumed that you meant bearish.
  • #180,826
  • Jun 4, 2009 7:57am Jun 4, 2009 7:57am
Quoting Raza
Everything counts,,,except BS news.. most of the time..

I spotted this 7 Hrs Ago.

Sorry didnot get back to your question about Divergence..

At the time you were seeing Bearish in all time frames..To me when I called for Bullish diversion.. Bearish diversion had already played out..It needs practice to figure it out at the right time.

G/J is super bearish now!!
I don't think so, just a small time frame H1 looks a little bear. Higher time frames look overbought but think bulls still have room if she hold at 151.
  • #180,827
  • Edited 8:16am Jun 4, 2009 7:59am | Edited 8:16am
Quoting janela
Have difficulty accepting this. The change over 4 TF does not happen in minutes. Its irrelevant now but I was discussing this with Mal at the time and we assumed that you meant bearish.
relevant thing is .. you dont see diversion only in 4 hr.. start from 15M. then see 1 hr..last one 4 hr.. when every thing lines up.. there you have.. Divergence.. That is my secret of detecting it. I dont really care for the chart divergence.. I use only RSI.. has worked for me every time ,.. so far.

When we saw a gravestone Doji on 4hr at 12am. I said some thing is not right..we have Bullish divergence as well..and we had a 300pip bull. run. Divergence is very important.. I think more than Volume..
Markets are not Random, they are designed!
  • #180,828
  • Jun 4, 2009 8:00am Jun 4, 2009 8:00am
The disarray in the UK government is clearly having an impact on the pound and if the Brown administration does not establish some sense of control relatively soon, the loss of confidence could push the pair below the G/U 1.6000 level as traders focus on political risks rather the improving UK economic picture.
  • #180,829
  • Jun 4, 2009 8:00am Jun 4, 2009 8:00am
Quoting markam
England is printing another 50 billion pounds. Expect GU to dive over the next day or so.
hey! bro,where did you disappear to,it's been a year now,taught you have retired from trading,good old day's..missed you and the rest of old crew,hakuna matat,moe,merlin,aus.M2B.Monarch(english police).hmm hope you chat sometime..best of luck bro.Captain Sycho.
Imanuel Parsifal
  • #180,830
  • Jun 4, 2009 8:01am Jun 4, 2009 8:01am
Quoting Aquafina
I don't think so, just a small time frame H1 looks a little bear. Higher time frames look overbought but think bulls still have room if she hold at 151.
This is what i meant 151xx.. which is 600 pips away. that is quiet bearish to me.. Above 158.. Bulls are in control.

but again trade your charts.
Markets are not Random, they are designed!
  • #180,831
  • Jun 4, 2009 8:11am Jun 4, 2009 8:11am
Quoting Raza
This is what i meant 151xx.. which is 600 pips away. that is quiet bearish to me..

but again trade your charts.
Ah, sorry, I misunderstand what you mean. Good trade!
  • #180,832
  • Jun 4, 2009 8:13am Jun 4, 2009 8:13am
G/J is super bearish now!![/quote]


Looks bullish to me...Heaviest volume of the move was as price was bottoming. Looks like hidden buying to me. Then it went up on increasing volume and fell on decreasing volume. You have to ignore the last candle because that was 1 min into a 5 min candle so the volume is not accurate yet. I'm buying dips.
Attached Image (click to enlarge)
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  • #180,833
  • Jun 4, 2009 8:19am Jun 4, 2009 8:19am
Quoting PipTreidar
G/J is super bearish now!!

Looks bullish to me...Heaviest volume of the move was as price was bottoming. Looks like hidden buying to me. Then it went up on increasing volume and fell on decreasing volume. You have to ignore the last candle because that was 1 min into a 5 min candle so the volume is not accurate yet. I'm buying dips.[/quote]

do yourself a favour and look at 60 min volumes ... you will see the picture clearer ....

volume is all about the background and the background is selling . Has been since yesterday

The 200 pip move up was not buying if it was the 60 min would not have moved up in declining volume

155.60 seems to be key support right now . A break of this and 154 / 153 here we come

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY3MIN193.png Size: 207 KB
Blogging daily now at www.volume.zone
  • #180,834
  • Jun 4, 2009 8:22am Jun 4, 2009 8:22am
Quoting PipTreidar
G/J is super bearish now!!

Looks bullish to me...Heaviest volume of the move was as price was bottoming. Looks like hidden buying to me. Then it went up on increasing volume and fell on decreasing volume. You have to ignore the last candle because that was 1 min into a 5 min candle so the volume is not accurate yet. I'm buying dips.[/quote]

Is this a 1 minute chart??? Volume is manupulative.. like everything else even candle sticks too.. on Low volume this thing had been shooting up all night. How you would justify that.
Trade your charts. not what you wanna believe.
Markets are not Random, they are designed!
  • #180,835
  • Jun 4, 2009 8:25am Jun 4, 2009 8:25am
in the UK this afternoon. Lots of anziety about whether Gordon Brown will resign. Certainly looks on life support right now that's for sure.

Taken a speculative short at 156.27. Hoping for the break lower. I don't think the big boys will risk buying here.
  • #180,836
  • Jun 4, 2009 8:26am Jun 4, 2009 8:26am
do yourself a favour and look at 60 min volumes ... you will see the picture clearer ....

volume is all about the background and the background is selling . Has been since yesterday

The 200 pip move up was not buying if it was the 60 min would not have moved up in declining volume

155.60 seems to be key support right now . A break of this and 154 / 153 here we come


Thanks for the pointer... my problem with the volume on the 60 min chart is that it always looks the same everyday and I feel like I can't trust it because the highest and lowest volumes are always at the same places
  • #180,837
  • Jun 4, 2009 8:29am Jun 4, 2009 8:29am
Quoting PipTreidar
do yourself a favour and look at 60 min volumes ... you will see the picture clearer ....

volume is all about the background and the background is selling . Has been since yesterday

The 200 pip move up was not buying if it was the 60 min would not have moved up in declining volume

155.60 seems to be key support right now . A break of this and 154 / 153 here we come


Thanks for the pointer... my problem with the volume on the 60 min chart is that it always looks the same everyday and I feel like I can't trust it because the highest and lowest...


I hear you on that ...try and look at the 60 min during the london and us sessions only. Filter out in your mind the asian and back end of us session

If , as we had last night , price was going up on declining volume during London then this is bearish .
Blogging daily now at www.volume.zone
  • #180,838
  • Jun 4, 2009 8:34am Jun 4, 2009 8:34am
Quoting ukdaytrader
in the UK this afternoon. Lots of anziety about whether Gordon Brown will resign. Certainly looks on life support right now that's for sure.

Taken a speculative short at 156.27. Hoping for the break lower. I don't think the big boys will risk buying here.
Do you seriously think that stubborn old bastard, who plotted and schemed for his job for 10 years, will resign now?? Never! He is going to save the world and this is just a blip (I quote sarcastically)
  • #180,839
  • Jun 4, 2009 8:37am Jun 4, 2009 8:37am
Quoting gillybabe
Do you seriously think that stubborn old bastard, who plotted and schemed for his job for 10 years, will resign now?? Never! He is going to save the world and this is just a blip (I quote sarcastically)
Well, I didn't say he would resign. Only that he may have no choice soon enough. He's on the brink, no doubt about that and if there's a challenge, the decision may not be his much longer.

JMHO of course.
  • #180,840
  • Jun 4, 2009 8:40am Jun 4, 2009 8:40am
Quoting ukdaytrader
Well, I didn't say he would resign. Only that he may have no choice soon enough. He's on the brink, no doubt about that and if there's a challenge, the decision may not be his much longer.

JMHO of course.
According to something I heard last night, if he doesn't want to go, nothing can stop him, including a bunch of disgruntled MPs. But I guess market senitiment is what matters here!
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