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

  • #184,561
  • Jul 15, 2009 4:58am Jul 15, 2009 4:58am
I'll short here
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Addicted to FX
  • #184,562
  • Jul 15, 2009 5:00am Jul 15, 2009 5:00am
Quoting ukdaytrader
As sad as it is to see some of the experienced traders leave this thread, their analysis should not be considered a one way street. As well as the idiots, there are also too many freeloaders who offer nothing to the thread but suddenly appear as soon as they see Piters and Quecee etc online. They'll then say something along the lines of 'Thank God you're here, the thread is rubbish now, please tell me where you think GY will go?'
I understand what you're saying.

Everyone's different. Personally, I didn't feel qualified to join the discussion before now. I've only been trading FX full time for 5 months. (this is my sole means of income, not a hobby)

It was important for me to learn trading on my own first, then possibly I would have something of value to add to a dialog with other traders.

Anyway, I'm looking forward to it.

Cheers,
John
  • #184,563
  • Jul 15, 2009 5:01am Jul 15, 2009 5:01am
I would really like to know what Malcolmb thinks about the situation. I'm usually always in the same boat with him, but he was buying on dips last time I checked.
  • #184,564
  • Jul 15, 2009 5:05am Jul 15, 2009 5:05am
Both holding up OK. Very risky shorting GY when ES is climbing.
  • #184,565
  • Jul 15, 2009 5:37am Jul 15, 2009 5:37am
one thing that is really concerning me is if anyone else is showing that massive spike on YM just after the Dow closed yesterday. I'd like to clarify if that's just a bad data tick on my platform or is that really what the market traded at. High on that tick hit 8698 for a spike worth 350+ points in 1 sec.

Personally i'm spotting resistance around the 154 region (based off H4 chart) as that coincides with the downward sloping neckline for the previous shampoo formation
  • #184,566
  • Jul 15, 2009 5:47am Jul 15, 2009 5:47am
Quoting Eulogy
one thing that is really concerning me is if anyone else is showing that massive spike on YM just after the Dow closed yesterday. I'd like to clarify if that's just a bad data tick on my platform or is that really what the market traded at. High on that tick hit 8698 for a spike worth 350+ points in 1 sec.

Personally i'm spotting resistance around the 154 region (based off H4 chart) as that coincides with the downward sloping neckline for the previous shampoo formation
Intel results?

Hit 8698 on my charting platform too. (Broco).
  • #184,567
  • Jul 15, 2009 5:53am Jul 15, 2009 5:53am
Quoting Eulogy
one thing that is really concerning me is if anyone else is showing that massive spike on YM just after the Dow closed yesterday. I'd like to clarify if that's just a bad data tick on my platform or is that really what the market traded at. High on that tick hit 8698 for a spike worth 350+ points in 1 sec.

Personally i'm spotting resistance around the 154 region (based off H4 chart) as that coincides with the downward sloping neckline for the previous shampoo formation
Intel reported results after close - hence the spike as good result !!!
  • #184,568
  • Jul 15, 2009 5:57am Jul 15, 2009 5:57am
On the down side view seems Wave C of the correction is terminating, First target is 151.00 , second is 150.00, if we pass 149.50 more down side will expected, for shorting wait for more upside about 154.
(upside view will explained on another post)
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Making money not by predicting just by following ...
  • #184,569
  • Jul 15, 2009 6:09am Jul 15, 2009 6:09am
tracking of GY from Jul 8, still same chart and analysis still valid

http://www.forexfactory.com/showpost...stcount=184432
  • #184,570
  • Jul 15, 2009 6:36am Jul 15, 2009 6:36am
Quoting janela
Intel reported results after close - hence the spike as good result !!!

that was the single most unhelpful comment of all time. i was asking if the magnitude of the spike on the YM was the result of a bad tick, not whether or not it occurred. No matter what you say there is no way i will rationally accept that a single company's earnings was able to spike the entire index up 350+ points. If the spike is real then something else is at play here.
  • #184,571
  • Jul 15, 2009 6:38am Jul 15, 2009 6:38am
I am only trying to find the solution to my long position to see if i am safe..
Kinda hating indicator in this Kind of market lately, this fibo convergence and confluence partterns seems amazing..let see how it play out...hope i am not getting it all wrong.. the confluence zone is broken so this should give more up sice to my exit point..
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MY OPINION NOT FINANCIAL ADVISE
  • #184,572
  • Jul 15, 2009 6:48am Jul 15, 2009 6:48am
Quoting Eulogy
that was the single most unhelpful comment of all time. i was asking if the magnitude of the spike on the YM was the result of a bad tick, not whether or not it occurred. No matter what you say there is no way i will rationally accept that a single company's earnings was able to spike the entire index up 350+ points. If the spike is real then something else is at play here.
Let's put it this way. Perhaps "something" is/was going on during that spike but it started right after Intel published it's results and so the spike was "blamed" or "caused" by the intel release. Perhaps there was something else going on at the same time but I do not know what it was. I did not hear about a bad tick. Hopefully this answer is a bit more satisfactory.
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  • #184,573
  • Jul 15, 2009 7:02am Jul 15, 2009 7:02am
Quoting Eulogy
that was the single most unhelpful comment of all time. i was asking if the magnitude of the spike on the YM was the result of a bad tick, not whether or not it occurred. No matter what you say there is no way i will rationally accept that a single company's earnings was able to spike the entire index up 350+ points. If the spike is real then something else is at play here.
Sorry if you found my comment unhelpful. I believe the spike was because market closed and the reaction was on little volume.

You may not accept that a single company's earnings was able to spike it up but you ignore the fact that the US market was closed, volume was therefore thin. Perhaps my learned friend can tell me what he is inferring to when he says something else is at play ??? Hope I find your response useful or plausible rather than cynicism.
  • #184,574
  • Jul 15, 2009 7:07am Jul 15, 2009 7:07am
Quoting donfriday
I am only trying to find the solution to my long position to see if i am safe..
Kinda hating indicator in this Kind of market lately, this fibo convergence and confluence partterns seems amazing..let see how it play out...hope i am not getting it all wrong.. the confluence zone is broken so this should give more up sice to my exit point..
see my last post , by another wave(5th wave) may over shoot the upper line, if it overshoots, we may see 155.5x-156 but before that 154, if we saw 155.5x-156 and rejected with high volume, we can say that the bull market is over...
Making money not by predicting just by following ...
  • #184,575
  • Jul 15, 2009 7:20am Jul 15, 2009 7:20am
Quoting janela
Sorry if you found my comment unhelpful. I believe the spike was because market closed and the reaction was on little volume.

You may not accept that a single company's earnings was able to spike it up but you ignore the fact that the US market was closed, volume was therefore thin. Perhaps my learned friend can tell me what he is inferring to when he says something else is at play ??? Hope I find your response useful or plausible rather than cynicism.
perhaps i should explain this via a chart about the magnitude of this spike.

yes i know the US market was closed and the volume was thin. This spike however defied what could be expected even from such a thin market. Even a wildly swinging NFP report couldn't have show this.

and my original question still stands for those bothering to read my question rather than just trying to explain the reasons behind it.

Can anyone confirm whether or not this spike shows on other platforms or is it just an error tick on mine.
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  • #184,576
  • Jul 15, 2009 7:21am Jul 15, 2009 7:21am
Quoting Eulogy
that was the single most unhelpful comment of all time. i was asking if the magnitude of the spike on the YM was the result of a bad tick, not whether or not it occurred. No matter what you say there is no way i will rationally accept that a single company's earnings was able to spike the entire index up 350+ points. If the spike is real then something else is at play here.
Perhaps you should have been clearer in you original post?
  • #184,577
  • Jul 15, 2009 7:24am Jul 15, 2009 7:24am
Quoting Eulogy
perhaps i should explain this via a chart about the magnitude of this spike.

yes i know the US market was closed and the volume was thin. This spike however defied what could be expected even from such a thin market. Even a wildly swinging NFP report couldn't have show this.
wtf do you want to hear - yes it was a bad tick ? I was only trying to help and do not think your comment was warranted. You think it was the worse comment of all time (you must be very young or do not know what all time means)? Three people (including myself said that it was intel results) but you disbelieve and choose to insult me. Believe what you want to mate.
  • #184,578
  • Jul 15, 2009 7:28am Jul 15, 2009 7:28am
I think its just a bad spike, I have seen this with my broker as well about 2 years ago.
Trade in the now
  • #184,579
  • Jul 15, 2009 7:30am Jul 15, 2009 7:30am
***Can anyone confirm whether or not this spike shows on other platforms or is it just an error tick on mine.***

'Spike' also occured on Broco Trader platform.
  • #184,580
  • Jul 15, 2009 7:34am Jul 15, 2009 7:34am
Quoting ukdaytrader
***Can anyone confirm whether or not this spike shows on other platforms or is it just an error tick on mine.***

'Spike' also occured on Broco Trader platform.

maybe u should work on channels and fibo levels u will see classic parttern,.....i am trying to ignor some crazy indi and focus on the old professional kills they use before.....i am getting freak out on indi, sometime theu hardly give a clear clue but partterns is cool..
just my opinion.
MY OPINION NOT FINANCIAL ADVISE
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