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

  • #188,701
  • Aug 12, 2009 11:16am Aug 12, 2009 11:16am
Quoting malcolmb14
no offense intended but since you posted that Sunday ... that same reference GJ dropped only 700 pip ....lol and Gu only 400pip and ES came off only 25 points.
Yep, and the post clearly mentioned one simple line as long as we remain above TEMA MONTH

did we remain above it ?

refer to the link in my sig
  • #188,702
  • Aug 12, 2009 11:20am Aug 12, 2009 11:20am
if NY session today closes above 159.60 then

we would have cleanly broken TEMA DAY, sending GJ to the next level test of TEMA MONTH

and if this does not happen, then downside is still open
  • #188,703
  • Aug 12, 2009 11:20am Aug 12, 2009 11:20am
Quoting forexlion
Yep, and the post clearly mentioned one simple line as long as we remain above TEMA MONTH

did we remain above it ?

refer to the link in my sig
sorry did not catch that....
Blogging daily now at www.volume.zone
  • #188,704
  • Aug 12, 2009 11:24am Aug 12, 2009 11:24am
after hitting sell 159.40 as mentioned that was upper value area yesterday I am loking for 50 % reatrce of morning move to 158.44 , lets say 158.50 , then take it form there
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  • #188,705
  • Aug 12, 2009 11:36am Aug 12, 2009 11:36am
Quoting forexlion
tema tema tema
I'm curious, do indicators like the tema tend to middle when we're consolidating?
If so, a break above on the 4H might not be an indication of a long trend if the line is running horizontal.

Is this correct?
  • #188,706
  • Aug 12, 2009 11:41am Aug 12, 2009 11:41am
Quoting malcolmb14
after hitting sell 159.40 as mentioned that was upper value area yesterday I am loking for 50 % reatrce of morning move to 158.44 , lets say 158.50 , then take it form there

ok closed tha trade 158.60. close enough might have left some pips on table.

I am out now till after FOMC in 1.5 hours
Blogging daily now at www.volume.zone
  • #188,707
  • Aug 12, 2009 11:44am Aug 12, 2009 11:44am
Quoting Navigator
LOL.....Me too....

Agree, stick with what works for you.

btw the 15 m. looks like it may do another run up and the S&P is still rising so not short yet. Most time frame cycles are near the top so wouldn't be surprised by a down move before long....but I've learned to wait for confirmation. Ideally the 5 and 14 stochastic heading down parallel on 15m or above.

Cheers
the current pattern in my opinion supports higher levels. not to say short term short scalps wouldn't work.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #188,708
  • Aug 12, 2009 11:50am Aug 12, 2009 11:50am
Quoting england33
the current pattern in my opinion supports higher levels. not to say short term short scalps wouldn't work.

always looking for symmetry

look at this 4 hour pattern last time it dropped off 162.50. down to 156.80 (only 80 pip of todays low ) then mark up to 159.30 .. 15 pip off todays mark up high( much like we have seen today) then down to 146.50

I was looking at ES all the volume was in the 2nd candle on the mark up on 60 min . seems bull trap to me , but thankfully you out of all longs.

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  • #188,709
  • Aug 12, 2009 11:52am Aug 12, 2009 11:52am
me long, all-in w0000000haaaaaaaaaaaaaaaa

well ok maybe not i wonder if it will tank after fomc regardless of what is said.

does seem to be more volume on the second hour of the rally. but looking at the time, during that first hour the market had only been open for 30 mins. during the second hour it was open the whole hour, so i guess more volume is to be expected, thats the pattern almost every day except when news alters it. but then i guess look at the size of the bars, first hour bar is 3 times the size on less volume.....filtering in shorts during the last part of the rally ready for drop after fomc? hmmmmmmmm
  • #188,710
  • Aug 12, 2009 11:54am Aug 12, 2009 11:54am
Quoting Fudomyo
I'm curious, do indicators like the tema tend to middle when we're consolidating?
If so, a break above on the 4H might not be an indication of a long trend if the line is running horizontal.

Is this correct?
just a close above a tema level is not sufficient, unless it is also not sloping upwards. in a down sloping tema, its plain and simple disaster to consider it valid

secondly a candle close of same type is required

like for tema 1 hour, a 1 hour candle close
for tema 4 hour, a 4 hour candle close and so on
  • #188,711
  • Aug 12, 2009 11:57am Aug 12, 2009 11:57am
I received an email of a video on Youtube called Government website cars.gov takes over your computer forever. Its a video from Fox News US with Glen Beck showing when you go into this website you have to click yes to a abide by rules etc. page ,then after you click yes it brings up a page that you agreed to the gov. having access to your computer. Glen Beck has a lawyer on with him saying that this is legal and urging people not to open this website.
  • #188,712
  • Aug 12, 2009 11:57am Aug 12, 2009 11:57am
Quoting forexlion
just a close above a tema level is not sufficient, unless it is also not sloping upwards. in a down sloping tema, its plain and simple disaster to consider it valid

secondly a candle close of same type is required

like for tema 1 hour, a 1 hour candle close
for tema 4 hour, a 4 hour candle close and so on
and anyways, if trading was so easy everyone would be a billionaire

the markets change so rapidly that you really need to evolve daily
  • #188,713
  • Aug 12, 2009 11:58am Aug 12, 2009 11:58am
Quoting malcolmb14
ok closed tha trade 158.60. close enough might have left some pips on table.

I am out now till after FOMC in 1.5 hours
i want to take long off 158.60 for retest 159.40 but to chicken ...lol
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  • #188,714
  • Aug 12, 2009 12:02pm Aug 12, 2009 12:02pm
Quoting forexlion
and anyways, if trading was so easy everyone would be a billionaire

the markets change so rapidly that you really need to evolve daily
what you are not ..lol ...

nice post ... take note of this . Trading is one of the hardest things to do. As FL points if it was so easy why does the whole world not do it ?

It sure is the easiest way to make money if you are ok at it and have good money management
Blogging daily now at www.volume.zone
  • #188,715
  • Aug 12, 2009 12:02pm Aug 12, 2009 12:02pm
Quoting malcolmb14
i want to take long off 158.60 for retest 159.40 but to chicken ...lol
not here, better to wait

even though i know GJ is all set to test TEMA DAY now
  • #188,716
  • Aug 12, 2009 12:04pm Aug 12, 2009 12:04pm
Quoting forexlion
just a close above a tema level is not sufficient, unless it is also not sloping upwards. in a down sloping tema, its plain and simple disaster to consider it valid

secondly a candle close of same type is required

like for tema 1 hour, a 1 hour candle close
for tema 4 hour, a 4 hour candle close and so on
I know it's similar to the t3ma and the HiLo Gann. The problem with those is they tend to slope more, so can give a false reading even though all 3 have identical entry points for a trade. Waiting for the second candle to close cleanly past a sloping line would make sense. I don't use any of them, but was curious how you gauge a proper entry using it.

Thanks.
  • #188,717
  • Aug 12, 2009 12:05pm Aug 12, 2009 12:05pm
Quoting forexlion
not here, better to wait

even though i know GJ is all set to test TEMA DAY now
after last short i am out for now till after FOMC.
Blogging daily now at www.volume.zone
  • #188,718
  • Aug 12, 2009 12:09pm Aug 12, 2009 12:09pm
its plain and simple disaster if you long here

there is simply no setup, even on 5 min
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  • #188,719
  • Aug 12, 2009 12:12pm Aug 12, 2009 12:12pm
Quoting malcolmb14
after last short i am out for now till after FOMC.
Looks like it wants to shoot up to 160.xx area before coming down again..
  • #188,720
  • Aug 12, 2009 12:13pm Aug 12, 2009 12:13pm
Quoting forexlion
its plain and simple disaster if you long here

there is simply no setup, even on 5 min

depends on system

158.60 is upper value area of volume histogram and support on 30 min cnalde , confirmed by rsx turning green. The long was good but I do not like trading 1.5 hour either side of FOMC

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