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

or.. you get tired.. and with your family or freinds, you go to SEAFOOD Restorant

Here is a good example setup of what to look for. We are going with the trend, and taking our hint of a possible new swing from the 1hour chart, we then drop down to the 5min and wait for fractals/swings to form. This gives us really tight stops. You can see that this setup ran for 150+pips. This happens all the time. The filters I use to pick good trades are all basic. Anyone could figure it out.

unless you've managed to pull all your hair out, then just order in, or cook up those frost bitten fish sticks that have been in the freezer since who knows when.

do you like fish sticks Scotty ?

I have to admit, they are in the freezer, and like I said, I can't say when they got there. Maybe they came with the fridge? I'll ask my wife later. I don't like them necessarily, but I don't mind a Mcdonald's fillet of fish every now and then (same catagory).

hi the don, what's this wave indicator that seem to tell u tps.

Now that we have a possible 'big one on the line,' I'd like to see price close below the 1hr gann. We've already tested her, I think it can do it. Let's pretend it's Free Willy on line with that dumb Michael Jackson song playing in the background. I think we'll see a H&S form, but our trade should remain intact...if not, there is always the next one.

it's same as macd 3,34,5 setting ......i use it to read divergence and wiseman 1 bill williams method.

i mean those diverging lines. thnx

is it the one with AO red and green ? if so the name is awosome oscillator for divergence just like macd.

haha it's ok, I tried to link it to a South Park episode, but you haven't probably watched it. http://www.southparkstudios.com/clips/224088

Anyways guys, check out what PPI did to the gold, if you are looking for a bit diversity you can try trading the XAU

Can anybody explain to me what the hell GJ is doing today, bounce then rejection with false breakout, then pullback, then false breakout, then bounce then rejection, then seems another pullback

it's doing exactly like the Dow (to the pip)

Hi Mate

Gann has rossed 1Hr .
Is it cleare sign of down trend?



I am on short. 151.65
TP 148.85

read what you said.......

then think about what distribution would look like.

152.30 is resistance

Even though It looks lika a BULL fLAG. i SEEa shampoo Formation on 15M- 30M . Also a Double Top.. ( that should go down.)

Divergence is Hidden Bullish. 15M..30M. 1 Hr.( target 154xx - 155xx)

Daily has a Bullish Hammer.( Retest of broken trendline)

I agree with you Mal, hence the reason I killed my long at 151 and mentioned this yesterday:


Yesterday: BUY day
Today: Distribution
Tonight/Tomorrow (GMT): SELL day.

I hope this article helps those traders confused by todays PA:



The Art of Contrarian Trading: Volume, Consolidation, Distribution, Headlines

Traders are at a stage in the market cycle that is one of the most frustrating to deal with, and where the most money gets squandered trying to work things out. This stage is when we go through a phase of consolidation, moving sideways consolidating the recent moves made, while anticipating a continuation of the previous trend. Consolidation can extend itself so far, and for so long, that it actually turns naturally into distribution, (where the asset starts to get sold as the realization that the original trend has expired), when there is no more forward momentum. Add in low volume levels, as we have right now, and volatility starts to decrease a little. As market participants get comfortable with the status quo.
Volume: When used as a confirmation tool that the price point chosen being monitored by others volume is invaluable. But as an exact count, as traders are accustomed to in equities, it is like comparing apples and pears; both look good, both work, they both taste different, but both have a benefit in use. The volume that we see in the spot forex market reflects very well the actual, countable, volume that is seen in the futures currency trade. On a higher market participation (volume) day there is more chance of hitting your target in good time compared to a below average volume day.
Consolidation: Protecting the current price point; not wanting to go up or to go down. Consolidation phases usually happen on light volume.
Distribution: Liquidating the positions that are being held, but not wanting to reveal that it is being done whilst getting ready for a move in the opposite direction. Distribution phases usually have heavy, erratic volume spikes as the commodity or asset is liquidated, and bought back in smaller amounts by the party looking to distribute; they have to buy some back to stop the distribution turning into a sell-off before they are finished distributing.
Distribution: A sideways pattern of trade that is caused by the distribution, or selling of an asset before a reversal of the recent move occurs, looks to be happening on the major pairs. They have run out of forward momentum, and the consolidation phase has now turned into a distribution reversal; a swing point.
For experienced market participants, the distribution phase is known to create the most market fear, or volatility, and that is what an experienced trader with a plan can feed off. There is no real way to confirm the move from consolidation to distribution until it is right upon us, and at that time the herd mentally tends to over-exaggerate the subsequent moves.
Getting into the distribution phase with a trade has to be well planned, have bigger targets, and a more flexible thought process. The herd still have their heads down as the distribution phase is happening, they are grazing on the previous trend, blissfully unaware that the change is happening on the four hour charts. Once the market players have distributed their holding of the previous trend, and have positioned themselves going the other way, it becomes time to inform the herd that things have changed, and to get their head up out of the trough, and to get a stampede going.
A screaming headline is always good for that, something along the lines of; "Dollar strength in the face of NFP misery, Buy Dollars!!!" The news headline, designed to wake the herd up, tends to reverse the recent headlines that were there to hide their efforts to distribute their holdings. Yesterday, it was "More misery for the Dollar as Recession looms!!!".
Volume, Consolidation, Distribution, Headlines; the pattern is there, it has been for decades, and still always seems to work. The Players are already in, they have worked the market mechanics, have linked the moves in the treasury, oil, gold and futures markets, have used previous trading experience to get to know how volume, consolidation and distribution work, and are waiting for just one thing; the herd to realize that they are going the wrong way.
Are you ready for the screaming headline? We have already seen the jawboning from central bankers and policy makers. All we need now is for the Players to have had their fill and to start to push the buttons that will get the herd moving.


Happy trading Bros

Thankyou Malcolmb

daily does not look that great ... very messy

yesterday news about GS was BS .... yes they did report good earnings and today they are being sold all day. Looks like pros using news as oppertunity to sell stock at 150.

Gj may well move back down into 147.2(bottom of channel) by end of week

I agree. Big Boys are nearly half way through distribution ATM (IMO). Another few spikes to finish off the last of the orders and we are off.

I do feel though, that the next move may break the bottom of the channel 147 and continue towards 137 due to sustained panic Selling.