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

  • #181,401
  • Jun 9, 2009 12:14pm Jun 9, 2009 12:14pm
Quoting grashid
I look at my H1 there are resistance formed @ 158.80/159 area..and am shorting at this area with target back to daily pivot..and perhaps we could see S1=156.24 by tomorrow asian session....everybody just look at M5/M15..there seems low vol of buyer and double top formed on M15...

Anyway this is my setting...and am maybe wrong..so do not follow and trade as what your chart say....

All SL will be set @ 159.20 @ R2 area...see what happen and...Take care


hmm trading gj move right now is too risky for me if i may say..i believe in the swing trade , patience is the key ...we may break up..what u think?
MY OPINION NOT FINANCIAL ADVISE
  • #181,402
  • Jun 9, 2009 12:16pm Jun 9, 2009 12:16pm
Quoting GodfreyH
I really admire swing traders like Big Bruv, Quecee and Rgitt, I personally have found that when I attempt to predict a general direction , based on say the daily or weekly chart, I get seriously married to the idea that the direction is, say , short.

I end up either getting badly burned or missing an excellent trade setup because I was convinced of the direction. This week started with a shooting star,based on this, it would have been a good call to be looking for shorts, but look what has happened so far...

I have finally figured...
yup that is how i was making 10 % per week with little effort .... now I am thinking like in paragrpah 1 .... thinking target is xyz instead of just trading the charts.

Today was a better day for me on Gu with a nice buy off 6226 for ride into 6300.

Saw there was no selling pressure and gave target in previous post.

We may get break higher but for now that 6295 was a sell zone as it held up .

Right now with trend being up on 60 min and rsx bright green I am only buying dips off the high volume pivot levels shown in the attached chart

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #181,403
  • Jun 9, 2009 12:21pm Jun 9, 2009 12:21pm
Quoting dreed
I can totally relate to what you're saying... I too was looking this week with short eye's, and with other's on this forum speaking short as well, it just really kept me in the mindset of short. However, I think your plan is a good one, and I will implement it myself. Trade the price action setup's that the RSX signals.

Also the RSX indicator you provided, I've been back testing it and its so reliable. I see why you, Malcolm and others like it so.

Thanks again for sharing.

we can all thank Dr Geppygenius for introducing me to rsx and vsa. i passed it on to others
Blogging daily now at www.volume.zone
  • #181,404
  • Jun 9, 2009 12:23pm Jun 9, 2009 12:23pm
Quoting Scrat
oh yeah baby, keep it up, next month you'll be a millionaire. what am i saying, a billionaire! why don't you go live and increase the risk eventually
see ya in bahamas!

better yet ....he should do it with real money and not in demo . I can turn 5 k to 30 k in a week in demo .... barely make 10 % per month in real account
Blogging daily now at www.volume.zone
  • #181,405
  • Jun 9, 2009 12:40pm Jun 9, 2009 12:40pm
Quoting malcolmb14
yup that is how i was making 10 % per week with little effort .... now I am thinking like in paragrpah 1 .... thinking target is xyz instead of just trading the charts.

Today was a better day for me on Gu with a nice buy off 6226 for ride into 6300.

Saw there was no selling pressure and gave target in previous post.

We may get break higher but for now that 6295 was a sell zone as it held up .

Right now with trend being up on 60 min and rsx bright green I am only buying dips off the high volume pivot levels shown in the attached chart...
Malcolm, once the RSX Turns Bright Red on the 30 min or 60 Min, is that when you will consider taking it short, in regards to GU?

I see we have already hit R2 on the Pivots, and we seem to not be, able to break above that resistance at the moment.

Thanks.
  • #181,406
  • Jun 9, 2009 12:54pm Jun 9, 2009 12:54pm
I don't think that we will go below 157.30 for tomorrow, I'll buy dips targetting 162
  • #181,407
  • Jun 9, 2009 12:58pm Jun 9, 2009 12:58pm
Quoting malcolmb14
we can all thank Dr Geppygenius for introducing me to rsx and vsa. i passed it on to others


trading demo is like playing PS3 game in ur own room than going to game center to play, ur emotion will tell u this is real and live know matter what the emotional feelings know the different between live and demo account, even ur sense of humor will never doubt that u are still demo trader..
i cannot remember how many demo i turn to big demo cash...i had 50k on fxpro account and hold a trade and when i check it was 83k..can u image that..
demo is for reading the market if u are complet newbie..
MY OPINION NOT FINANCIAL ADVISE
  • #181,408
  • Jun 9, 2009 1:17pm Jun 9, 2009 1:17pm
Quoting donfriday
trading demo is like playing PS3 game in ur own room than going to game center to play, ur emotion will tell u this is real and live know matter what the emotional feelings know the different between live and demo account, even ur sense of humor will never doubt that u are still demo trader..
i cannot remember how many demo i turn to big demo cash...i had 50k on fxpro account and hold a trade and when i check it was 83k..can u image that..
demo is for reading the market if u are complet newbie..
not sure esignal has began giving their signal away for free
"Millionaires don't use astrology, billionaires do"
  • #181,409
  • Jun 9, 2009 1:24pm Jun 9, 2009 1:24pm
Quoting OrionsWay
not sure esignal has began giving their signal away for free

hmm not sure what u mean but i dont know anything about free signal, is that valid at all?
MY OPINION NOT FINANCIAL ADVISE
  • #181,410
  • Jun 9, 2009 1:29pm Jun 9, 2009 1:29pm
Quoting dreed
Malcolm, once the RSX Turns Bright Red on the 30 min or 60 Min, is that when you will consider taking it short, in regards to GU?

I see we have already hit R2 on the Pivots, and we seem to not be, able to break above that resistance at the moment.

Thanks.

1 hour yes ... 30 min we can get large divergences while price heads up as we see now.

1.6420 is the 1 hour resistance level
Blogging daily now at www.volume.zone
  • #181,411
  • Jun 9, 2009 1:48pm Jun 9, 2009 1:48pm
Quoting malcolmb14
1 hour yes ... 30 min we can get large divergences while price heads up as we see now.

1.6420 is the 1 hour resistance level
Yes I see what you mean, price is really moving higher. I wonder what is causing so much strength in the Pound.

The 1 hour Chart would be more reliable that's for sure.
  • #181,412
  • Jun 9, 2009 2:01pm Jun 9, 2009 2:01pm
Quoting dreed
Yes I see what you mean, price is really moving higher. I wonder what is causing so much strength in the Pound.

The 1 hour Chart would be more reliable that's for sure.

or weakness in the USD ?

I am no longer thinking about fundies . Doing that has messed me up recently. 1 hour rsx is green .... buy dips on 5 and 15 is safe

The Gordon Brown thing was likely a made up thing that was designed to drop the GBP so that the illuminati could have another chance of getting in at a discount , well at least their trading division anyway.
Blogging daily now at www.volume.zone
  • #181,413
  • Jun 9, 2009 2:06pm Jun 9, 2009 2:06pm
Quoting malcolmb14
or weakness in the USD ?

I am no longer thinking about fundies . Doing that has messed me up recently. 1 hour rsx is green .... buy dips on 5 and 15 is safe

The Gordon Brown thing was likely a made up thing that was designed to drop the GBP so that the illuminati could have another chance of getting in at a discount , well at least their trading division anyway.
Haha thats funny Malcolm. No it is true ,the Brits had and still have enough of Gordon and his own party as well! I doubt very much if the Labour party had Cable in mind...
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  • #181,414
  • Jun 9, 2009 2:12pm Jun 9, 2009 2:12pm
Quoting azibi
Haha thats funny Malcolm. No it is true ,the Brits had and still have enough of Gordon and his own party as well! I doubt very much if the Labour party had Cable in mind...

trust me ... everything is done for reason . Nothing is random. The labour party may not have had cbale in mind but who ever stirred things up sure did
Blogging daily now at www.volume.zone
  • #181,415
  • Jun 9, 2009 2:24pm Jun 9, 2009 2:24pm
Quoting malcolmb14
trust me ... everything is done for reason . Nothing is random. The labour party may not have had cbale in mind but who ever stirred things up sure did
Amen to that Malcolm, this is not a typical move for Cable that's for sure. Something was behind it. Perhaps it is Dollar weakness indeed.

I wonder if we will get the normal pull back in a couple of hours.
  • #181,416
  • Edited 3:06pm Jun 9, 2009 2:35pm | Edited 3:06pm
clearly we are trading out of the channel,the shaded area indicator what looks to me like clear sign of accumullation,which i think is an attempt to break back into that channel to see more upside,but like i posted earlier am looking at 160area or some little higher b/4 a nice crash,am still holding unto my weekly long and using ts of 150pips(added this just recent when we scaled the 158area,where we have been having some heavy selling,the smooth crossing through that area,tells me the seller's at that level have been clearly absorbed and higher price should be expected,and seems a comfortable idea placing sl just below that area..),target still 160area or higher..here was the previous post..http://www.forexfactory.com/showpost...stcount=181161 http://www.forexfactory.com/showpost...postcount=1249
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Imanuel Parsifal
  • #181,417
  • Jun 9, 2009 2:44pm Jun 9, 2009 2:44pm
Quoting sycho
clearly we are trading out of the channel,the shaded area indicator what looks to me like clear sign of accumullation,which i think is an attempt to break back into that channel to see more upside,but like i posted earlier am looking at 160area or some little higher b/4 a nice crash,am still holding unto my weekly long and using ts of 150pipos,target still 160area or higher..here was the previous post..http://www.forexfactory.com/showpost...stcount=181161 http://www.forexfactory.com/showpost...postcount=1249...

Nice trade...

you sure 150 pip TS ? you would have been stopped out last night on 200 pip retrace if that were the case

does look like we will test and maybe even break 160.

ES is being boughgt on every dip. Almost looks like someone wants it at 1000
Blogging daily now at www.volume.zone
  • #181,418
  • Jun 9, 2009 3:23pm Jun 9, 2009 3:23pm
hey guys...I haven't been on here forever..Life gets crazy sometimes. I hope you're all doing well.

There is a very nice short opportunity in our midst. We are very close, within 50 pips. I have a limit short @ 159.40, Stop @ 160, Target @ 153.

This pair is totally overbought and needs to retrace badly.

I say TANK! Buyers keep your stops tight.

Scotty B

(the chart is a screenshot of my demo, I'm not short yet..I do all the stupid risky things on the demo to get it out of my system...)
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  • #181,419
  • Jun 9, 2009 3:55pm Jun 9, 2009 3:55pm
Quoting GodfreyH
I really admire swing traders like Big Bruv, Quecee and Rgitt, I personally have found that when I attempt to predict a general direction , based on say the daily or weekly chart, I get seriously married to the idea that the direction is, say , short....
in this situation HiLo could be useful but first you need the ranging timeframe, on gbpjpy we have ranging market appears clearly on H4, so u wait for price to close below H1 Gann (which signals minor trend is there) and then you look on M5 or M15 for volume signal (any signal) .. that actually eliminates the number of bars you need to study and if the close below gann was a false one, no volume signal will be generated .. i know that might sound silly but its been working for me very well

edit: i prefer to look for the signal in the first 4 bars, if theres no signal then i'll wait for a good retrace to start looking for signals again
I recommend you read something else as this sentence is now concluded.
  • #181,420
  • Jun 9, 2009 4:25pm Jun 9, 2009 4:25pm
Quoting dreed
Malcolm, once the RSX Turns Bright Red on the 30 min or 60 Min, is that when you will consider taking it short, in regards to GU?

I see we have already hit R2 on the Pivots, and we seem to not be, able to break above that resistance at the moment.

Thanks.

, I would like to think that I am of reasonable intelligence, however I confess that some of the most effective indicators are based on maths logic that escapes me. Now this bothers me as I always like to know how things work. I am in awe of the mind that came up with the jurik series .

Similarly the logic of the indicator I've posted below currently escapes me, but this one I'll figure out eventually

It's based on the bollinger band and adaptive moving averages. From my observation, the dots don't repaint once the bar is closed.

Try it and see if it helps you with trade direction. Safest trades are when both dot color and rsx color line up.
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