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

  • #188,501
  • Aug 11, 2009 10:39am Aug 11, 2009 10:39am
Quoting gico
someone saw the daily GU chart ? it's like today never happened
It is reserved for "after London close". Then the move would begin
  • #188,502
  • Aug 11, 2009 10:47am Aug 11, 2009 10:47am
I posted this on Friday after the close....:

Bigger picture
While everyone congratulates themselves on their long trades today, here's something to consider:

Since the initial NFP spike, GY has risen just 100 pips give or take. Does that sound like the kind of rally you'd expect? We may see a continuation up next week, but charts and indices were very bearish before the news, so there had to be many bigger traders who are caught in shorts. They will want this back down.

Sudden quick moves such as the one we saw today are very often retraced. Think of news as similar to a gap.

Volumes are still relatively low.

ES was falling before it closed and it closed nearly 10 points from it's high.

I'm not making any calls here, just offering a heads up. http://www.forexfactory.com/t/40582/...lies/peace.gif

It does look like a lot of big players were caught out by the jobs report. What we have seen this week is the resumption of last week's downtrend. NFP has been wiped from the markets and we continue to go where we were going before Friday.....

I would have been rich if I trusted my gut instinct. lol
  • #188,503
  • Aug 11, 2009 10:49am Aug 11, 2009 10:49am
Daily - QQE crossed down
Daily - Below Gann
RSI pointing down
RSX poiting down

4hr - QQE crossed down and below the 50
4hr - below Gann
RSI - OS
RSX pointing down well below 50

1 hr RSI and RSX very OS

and sitting on LTL of wedge

London hasnt done anything to write home about on their close

Im thinking up from here for a bit at least to 160.42 if not to 161.04. could be wrong of course in this market. Closing my short mentioned in previous post
  • #188,504
  • Aug 11, 2009 11:31am Aug 11, 2009 11:31am
Quoting Robby
Very true....everyone on sunday was long...were I have been for the last 2 weeks selling into the sucker long....You have no jobs around the world = the move up is FAKE! So, someone is given us the ones who see it a good chance to make alot of money!!!!

I am just wondering when the buyers are going to make a stand before they get killed again....at what level they want to try and stop the race car with their hands.........
I work purely off technicals and use the monthly and weekly chart to map the coming week. It's much easier to see the patterns. I keep an eye on fundis so I can adjust to them, not predict them.

It can take months or years for trends to play out, so it's impossible to say when and if things will happen next. The credit bubble in the US lasted for nearly 30 years. The next bubble could last longer then the rest of your life for all you know. It seemed really dire in the early 80's, and then a fake rainbow unicorn lifted the world up and saved us from having to cook our shoes. lol

The way I see it is, you can either worry about things you can't change or learn to play the piano.

The chart is a piano, the candles are keys, and PA is the music.

Forget everything else...
  • #188,505
  • Aug 11, 2009 11:33am Aug 11, 2009 11:33am
Quoting Fudomyo
I work purely off technicals and use the monthly and weekly chart to map the coming week. It's much easier to see the patterns. I keep an eye on fundis so I can adjust to them, not predict them.

It can take months or years for trends to play out, so it's impossible to say when and if things will happen next. The credit bubble in the US lasted for nearly 30 years. The next bubble could last longer then the rest of your life for all you know. It seemed really dire in the early 80's, and then a fake rainbow unicorn lifted the world up and saved...
true. great post.
"Don't trade to trade . . . trade to win." - James16
  • #188,506
  • Aug 11, 2009 11:38am Aug 11, 2009 11:38am
Nikkie looking like it is setting to drop ...maybe tonight
no volume , bearish div volume on way up and bear div 4 hour.

This could well take gj down into below 157 tonight if this plays out in Asia today

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  • #188,507
  • Aug 11, 2009 11:46am Aug 11, 2009 11:46am
Quoting malcolmb14
Nikkie looking like it is setting to drop ...maybe tonight
no volume , bearish div volume on way up and bear div 4 hour.

This could well take gj down into below 157 tonight if this plays out in Asia today

Attachment
what you seeing on crude Malcomb?
"Don't trade to trade . . . trade to win." - James16
  • #188,508
  • Aug 11, 2009 11:47am Aug 11, 2009 11:47am
Quoting malcolmb14
Nikkie looking like it is setting to drop ...maybe tonight
no volume , bearish div volume on way up and bear div 4 hour.

This could well take gj down into below 157 tonight if this plays out in Asia today

Attachment
Today is the peak of the Obon holiday in Japan so there'll be unusually low volume on the Nikkei and Asian session. Everyone's on vacation even though its not an official bank holiday.
  • #188,509
  • Aug 11, 2009 11:48am Aug 11, 2009 11:48am
Malc can you give your view in GU , is it accumulation before a leg up ?
  • #188,510
  • Aug 11, 2009 11:52am Aug 11, 2009 11:52am
Quoting Flem26
what you seeing on crude Malcomb?

I am short 71 target 60 then if this breaks 50

note the post that forexlion flagged the other day. I have been building shorts in everything .. oil . dj , es , gj , gu etc etc ,

oh and GS
Blogging daily now at www.volume.zone
  • #188,511
  • Aug 11, 2009 11:53am Aug 11, 2009 11:53am
Quoting gico
Malc can you give your view in GU , is it accumulation before a leg up ?

gu seems to move in sideways boxes then drop ..... then sideways then drop.

I think we are on some form of consolidation before next leg down .

But with fomc out there tomorrow anything can happen
Blogging daily now at www.volume.zone
  • #188,512
  • Aug 11, 2009 11:55am Aug 11, 2009 11:55am
Quoting Fudomyo
Today is the peak of the Obon holiday in Japan so there'll be unusually low volume on the Nikkei and Asian session. Everyone's on vacation even though its not an official bank holiday.

ah thankyou ... that now confirms that nikkie is about to collapse

they have been pushing it up under low volume for 3 days now . I wondered why that gap was not filling ... sneaky traders !!!
Blogging daily now at www.volume.zone
  • #188,513
  • Aug 11, 2009 12:02pm Aug 11, 2009 12:02pm
Quoting malcolmb14
I am short 71 target 60 then if this breaks 50

note the post that forexlion flagged the other day. I have been building shorts in everything .. oil . dj , es , gj , gu etc etc ,

oh and GS
"Don't trade to trade . . . trade to win." - James16
  • #188,514
  • Aug 11, 2009 12:06pm Aug 11, 2009 12:06pm
it is so flipping frustrating trying to scalp the new york session . . . up down up down up down
"Don't trade to trade . . . trade to win." - James16
  • #188,515
  • Aug 11, 2009 12:07pm Aug 11, 2009 12:07pm
Quoting malcolmb14
gu seems to move in sideways boxes then drop ..... then sideways then drop.

I think we are on some form of consolidation before next leg down .

But with fomc out there tomorrow anything can happen


tomorrow remember of months ago..this guys fomc blew off my acc in 5 min.....
MY OPINION NOT FINANCIAL ADVISE
  • #188,516
  • Aug 11, 2009 12:15pm Aug 11, 2009 12:15pm
Quoting Flem26
it is so flipping frustrating trying to scalp the new york session . . . up down up down up down
what do you think sclaping is 500 pip up and then 500 down ??? that is only in my dreams
Blogging daily now at www.volume.zone
  • #188,517
  • Aug 11, 2009 12:20pm Aug 11, 2009 12:20pm
Quoting malcolmb14
what do you think sclaping is 500 pip up and then 500 down ??? that is only in my dreams
hey i like to scalp euro yen and geppy for 25 pips! doesn't seem possible once New York is on its own . . . before I can close with 25 on geppy and euro yen, I'm left with only 5 pips.
"Don't trade to trade . . . trade to win." - James16
  • #188,518
  • Aug 11, 2009 12:21pm Aug 11, 2009 12:21pm
Quoting Flem26
hey i like to scalp euro yen and geppy for 25 pips! doesn't seem possible once New York is on its own . . . before I can close with 25 on geppy and euro yen, I'm left with only 5 pips.
check that 2 pips
"Don't trade to trade . . . trade to win." - James16
  • #188,519
  • Aug 11, 2009 12:28pm Aug 11, 2009 12:28pm
Quoting Flem26
hey i like to scalp euro yen and geppy for 25 pips! doesn't seem possible once New York is on its own . . . before I can close with 25 on geppy and euro yen, I'm left with only 5 pips.

cause you not getting in s/r levels

I shorted gj 58.34 , closed 58 whoe number.

here are major s/r levels off 30 min charts

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  • #188,520
  • Aug 11, 2009 12:29pm Aug 11, 2009 12:29pm
Give it up Dow and Geppy, fall now!
"Don't trade to trade . . . trade to win." - James16
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