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

  • #184,461
  • Jul 14, 2009 12:37pm Jul 14, 2009 12:37pm
Trade you Charts .. not Biases.. or News.
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Markets are not Random, they are designed!
  • #184,462
  • Edited 1:04pm Jul 14, 2009 12:50pm | Edited 1:04pm
Quoting Raza
Trade you Charts .. not Biases.. or News.

nice count mate....this is what i am looking for....If i am wrong someone should currect me ...i am still newbie.
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MY OPINION NOT FINANCIAL ADVISE
  • #184,463
  • Jul 14, 2009 1:11pm Jul 14, 2009 1:11pm
Quoting donfriday
nice count mate....this is what i am looking for....If i am wrong someone should currect me ...i am still newbie.
Noooo, Newbie!!!

Thats not How you see H&S.. see www.thepatternsite.com .

I think it has made its shoulder .. Head is in the Making. The end of the head would be 154xx--155xx.. see my previous post follow red lines.. I purposely put red line .. so we can detect this Bigger Shampoo Formation .
Markets are not Random, they are designed!
  • #184,464
  • Jul 14, 2009 1:23pm Jul 14, 2009 1:23pm
Quoting Raza
Noooo, Newbie!!!

Thats not How you see H&S.. see www.thepatternsite.com .

I think it has made its shoulder .. Head is in the Making. The end of the head would be 154xx--155xx.. see my previous post follow red lines.. I purposely put red line .. so we can detect this Bigger Shampoo Formation .

okay masta...take care
MY OPINION NOT FINANCIAL ADVISE
  • #184,465
  • Jul 14, 2009 1:24pm Jul 14, 2009 1:24pm
Quoting Raza
Trade you Charts .. not Biases.. or News.
I disagree.

Perception of Price is determined individually. My perception is the Sheeple dribble the usual spurn and repeatable "quotes" whilst failing to see the real moves.

For instance, whilst I write, I see the Price is dropping on GBP/USD, triggering my Limit Sell. Bias and news is of no consequence, all that matters is profit, not quotes from the forex bible of uttered proverbs. BUT, bias and news provide the turning points and large moves due to PREVIOUS accumulation/distribution.

Charts are a line drawn in history, from which we can use probability due to historical cycles, Dow Theory etc. Not combining charts with market sentiment, stock news etc is not adding extra weapons to your arsenal.

For instance, the news that japan was alarmed when the YEN sunk to 91, and Tokoyo threatened to intervene imediately in the currency...who would seriously not listen to that news?

The news fact that Swiss CB threatened to intervene in its currency...and they did, making us a handsome 500-600 pips in minutes. W£ho would not listen to that? Who would not seriously watch Reuters etc and find out which major banks were off loading Sterling during a rise?

Now, my charts, COMBINED with CURRENCY NEWS, OIL, AUX, DJIA, S&P, and FTSE, along with VOLUME, DISTRIBUTION, ACCUMULATION and PRICE ACTION works for me. I do not use indicators much anyone (such as Gann etc) as price can often be interpreted before Gann takes effect.

If Gann/QQE, 5SMA or Rainbow etc changes and matches my direction whilst I am already scaled in, then I am happy to let the trade breathe longer.

This, like I say, works for me.

Im off to Paris for a couple of days.

Happy trading
  • #184,466
  • Jul 14, 2009 1:30pm Jul 14, 2009 1:30pm
Hi Malc

Do you see what I see on currency indicies ?
ESpecially on EUR and CHF

Trade well my friend.
  • #184,467
  • Jul 14, 2009 1:41pm Jul 14, 2009 1:41pm
Quoting 5ysfx
Hi Malc

Do you see what I see on currency indicies ?
ESpecially on EUR and CHF

Trade well my friend.

do you see tankage in the near future ?......like next 4- 6 weeks ?
Blogging daily now at www.volume.zone
  • #184,468
  • Jul 14, 2009 1:45pm Jul 14, 2009 1:45pm
Hi, I ve been following your comment and analysis on GJ . I m a new trader and my favourite pair is GJ. I m in KL , I hope one day I can meet u in person . thx
  • #184,469
  • Jul 14, 2009 2:11pm Jul 14, 2009 2:11pm
Quoting malcolmb14
do you see tankage in the near future ?......like next 4- 6 weeks ?
yep
6 weeks sound good for kick-off only
  • #184,470
  • Jul 14, 2009 3:03pm Jul 14, 2009 3:03pm
I see more upside.
Daily ES chart.
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Once the QQE on this baby crosses up, we could see the Yen crosses dragged >500 pips higher. Hovering around 900 which is expected. If she rejects, we go south hard. If she breaks, we jump hard.

I'm not seeing any Distribution eithjer. If anything, I see some Accumulation. (albeit on lowish volume).
  • #184,471
  • Jul 14, 2009 3:32pm Jul 14, 2009 3:32pm
Quoting ukdaytrader
I see more upside.
Daily ES chart.
Attachment

Once the QQE on this baby crosses up, we could see the Yen crosses dragged >500 pips higher. Hovering around 900 which is expected. If she rejects, we go south hard. If she breaks, we jump hard.

I'm not seeing any Distribution eithjer. If anything, I see some Accumulation. (albeit on lowish volume).

not quiet right

although yes there were signs of buyers of 875 , today ended on higher volume than last 9 sessions (exlcuding the high vol bar on support) . Also todays candle if that high volume was buyers the spread should have been wider.

then when we drill down to 15 min chart we find that most of the high volume bars occurred at end of day on up bars . There seems to be some heavy selling at that 900 level. BUT we cannot really tell till tomorrow , once we see result of those high volume bars at support. I suggest though that could well be sellers dsitributing.

tomorrow if down day will confirm this

wtf as typing this es gapped to 908 on some earnings news lol .... now lets see what reaction is to that tomorrow when markets open

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  • #184,472
  • Jul 14, 2009 3:37pm Jul 14, 2009 3:37pm
Quoting malcolmb14
not quiet right

although yes there were signs of buyers of 875 , today ended on higher volume than last 9 sessions (exlcuding the high vol bar on support) . Also todays candle if that high volume was buyers the spread should have been wider.

then when we drill down to 15 min chart we find that most of the high volume bars occurred at end of day on up bars . There seems to be some heavy selling at that 900 level. BUT we cannot really tell till tomorrow , once we see result of those high volume bars at support. I suggest though that could well...
i am not good with volume but even the previous chart i post with volume on 4hrs chart was showing increasing volume so i was saying i am bull scottyb shorting gj cus he followed 5min fractal.....bigger tf run the market smaller tf decide entry i discovered that sometime now ..
c ya
hmm trying Gann they have been talking about ...i am using the 50period ..

waiting for how this 4hrs will close...
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MY OPINION NOT FINANCIAL ADVISE
  • #184,473
  • Jul 14, 2009 3:38pm Jul 14, 2009 3:38pm
Quoting ukdaytrader
I see more upside.
Daily ES chart.
Attachment

Once the QQE on this baby crosses up, we could see the Yen crosses dragged >500 pips higher. Hovering around 900 which is expected. If she rejects, we go south hard. If she breaks, we jump hard.

I'm not seeing any Distribution eithjer. If anything, I see some Accumulation. (albeit on lowish volume).

4 hour may push to 155
Blogging daily now at www.volume.zone
  • #184,474
  • Jul 14, 2009 3:38pm Jul 14, 2009 3:38pm
Whats going on in gbp/yen at this hour?
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  • #184,475
  • Jul 14, 2009 3:39pm Jul 14, 2009 3:39pm
Quoting Raza
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)
Hidden Bullish Divergence...100+ pips.. so far

So far ... according to plan.. added more .. time is coming to sell...
Markets are not Random, they are designed!
  • #184,476
  • Jul 14, 2009 3:41pm Jul 14, 2009 3:41pm
Quoting donfriday
i am not good with volume but even the previous chart i post with volume on 4hrs chart was showing increasing volume so i was saying i am bull scottyb shorting gj cus he followed 5min fractal.....bigger tf run the market smaller tf decide entry i discovered that sometime now ..
c ya

I gave up guessing long term time frames and back to trading 5 min charts only. I close my swing trade short of 159 ...for a few pips at 151. who cares if this drops 2 billion pips.

day trading i like and can manage in crazy market times. I mean look this time of day just hit a 75 pip trade

I have been in abd out of the market today when gj bouncing around in the channel and when i saw es gap did not hesitate without looking at gj to press buy. In these kind of markets a good day trader should knock out 200 - 300 pips per day , compounded on account is very powerful

I am managing only 100 ish pips a day as not full time trader.
Blogging daily now at www.volume.zone
  • #184,477
  • Jul 14, 2009 3:43pm Jul 14, 2009 3:43pm
Quoting Raza
Hidden Bullish Divergence...100+ pips.. so far

So far ... according to plan.. added more .. time is coming to sell...

can you show me this hidden bull div ? cannot see on rsx
Blogging daily now at www.volume.zone
  • #184,478
  • Jul 14, 2009 3:45pm Jul 14, 2009 3:45pm
Is this push up a result of Intel hitting it out of the park with Revenues?
  • #184,479
  • Jul 14, 2009 3:46pm Jul 14, 2009 3:46pm
Quoting direct-trade
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.
Here's the quick Stop spike (prob. bought using 30% to off-load 100%) Sold 15298, lets see if it turns down from here.

See ya next week.
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  • #184,480
  • Jul 14, 2009 3:46pm Jul 14, 2009 3:46pm
Quoting azibi
Whats going on in gbp/yen at this hour?

liekly intel earnings after hours .....
Blogging daily now at www.volume.zone
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