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

  • #190,121
  • Aug 20, 2009 6:34pm Aug 20, 2009 6:34pm
Great post Piters, I'm certainly not buying any pounds. Thanks for the info.
  • #190,122
  • Aug 20, 2009 6:36pm Aug 20, 2009 6:36pm
Asia acting like its old self again . . . bring on September!
"Don't trade to trade . . . trade to win." - James16
  • #190,123
  • Aug 20, 2009 6:37pm Aug 20, 2009 6:37pm
Hi Piters, I would like to ask you. Is Robert Prechter (EWI CEO) one of the best reference in terms of Elliot Wave analysis? What is your opinion about him if you have one? Thanks.
  • #190,124
  • Aug 20, 2009 6:37pm Aug 20, 2009 6:37pm
Quoting dre3029
I was wondering what you successful traders do or did to learn patience. That is my biggest problem. Instead of waiting for the trade to come I try to hop on trades that look good because I'm staring at the charts. I was just wondering how you guys learned to get over that portion of trading.
errr. TRIAL and ERRORS ??/

well it is in our Human nature.. every one person - trader, even the best ones, are facing their personalities and fighting with his emotions over the market battle.. There is nothing to do with their excelence of Technical Analysis or any other Analytical genie..

Pure emotions.. Mindset.. and the deal with Preassure.. Stress..
  • #190,125
  • Edited 6:57pm Aug 20, 2009 6:42pm | Edited 6:57pm
Quoting OGW
Hi Piters, I would like to ask you. Is Robert Prechter (EWI CEO) one of the best reference in terms of Elliot Wave analysis? What is your opinion about him if you have one? Thanks.
yes he is one of the BEST today..
but on EW topic better to ask PKIMNYC or QUEECE5, they are good in EW..
  • #190,126
  • Aug 20, 2009 6:42pm Aug 20, 2009 6:42pm
Quoting Piters
[/list]Anyone still interested in Pound LONG ??
Yeah, traders in New York! Boo yah!

Just kidding bro. You nailed in a nutshell. This faux rally is going to be brought to its knees. Might even start next week with all the treasury supply hitting the market. That supply is going to have to be absorbed and that usually means something has to sell off . . . what could that be? (commodities, stocks, yen crosses)
"Don't trade to trade . . . trade to win." - James16
  • #190,127
  • Aug 20, 2009 6:45pm Aug 20, 2009 6:45pm
Perfect shot,

took a short on trendline and gann break on m15/m30/h1, closed at 154.44

thanks

Quoting malcolmb14
since 7am pst this morning all rallies have been sold off 155.50 . This is the point of control for the last 20 trading sessions.

Japan having issues with exporters it seems they are down .66 % . China follows gj will be at 1st target 154.50.

need to get 15 min closes under 155 ( major number)

here is chart showing sellers all day

completed with a reversal after effort to rise right before tokyo ( my fav mark up gives short away always )

Attachment
  • #190,128
  • Aug 20, 2009 6:46pm Aug 20, 2009 6:46pm
Quoting Piters
After some TA (technical analysis) saying we are on weekly resistance and with the bearish divergance suggesting the drop, here some Fundamential FACTS..too:
[list][*]Fact 1: Industrial Production has sunk for six straight months in the U.K. Look at the changes year-over-year since January: -12.1%, Feb: -12.7%, March: -12.6%, April: -12.4%, May: -11.9%, July -11.1%[*]Fact 2: U.K. Manufacturing Production has also dropped for the past six months. Check out these numbers year-over-year since January: -14.0%, -14.1%, -13.4%, -13.2%,...
I can't agree more, This is what I have been saying for 3 or 6 months now, Gbp is the most overvalued currency in the world. Nonetheless people love buying them.....ask the Iluminati?
Cable at 1.25 is the appropiate level for me as well as above 1.00 agst euro!
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  • #190,129
  • Aug 20, 2009 6:47pm Aug 20, 2009 6:47pm
Quoting t2l&l2t

this could be start of 400 pip move down like mid week

dj had lowest volume of year on up bar ... I think bulls going to get big surprise tomorrow
Blogging daily now at www.volume.zone
  • #190,130
  • Aug 20, 2009 6:49pm Aug 20, 2009 6:49pm
Quoting harora
Perfect shot,

took a short on trendline and gann break on m15/m30/h1, closed at 154.44

thanks

it was low of us session this morning .. .lucky guess lol

still being sold small reatrce to 38 % of down move. 153.50 target I think if 154.50 gives way
Blogging daily now at www.volume.zone
  • #190,131
  • Aug 20, 2009 6:57pm Aug 20, 2009 6:57pm
Hi malcom, just wanted to say even though I'm a newbie member here I've been reading your posts for a long time now and found them more useful than anyone else on this site except maybe errich fx number levels. Especially because I do most of my trading during Tokyo while I'm at work (live in Melbourne, Aus) I don't have access to my brokers volume data.

You deserve a big thankyou for that

I looked at the post you provided, 6450 seems hard to reach right now with buying around 6470 and 154.5 seeming to hold on G/J?
  • #190,132
  • Aug 20, 2009 7:02pm Aug 20, 2009 7:02pm
Quoting Flem26
Yeah, traders in New York! Boo yah!

Just kidding bro. You nailed in a nutshell. This faux rally is going to be brought to its knees. Might even start next week with all the treasury supply hitting the market. That supply is going to have to be absorbed and that usually means something has to sell off . . . what could that be? (commodities, stocks, yen crosses)
supply is over $200 billion just next week.
  • #190,133
  • Aug 20, 2009 7:07pm Aug 20, 2009 7:07pm
Quoting Eulogy
supply is over $200 billion just next week.
Are you serious? I thought it was like 98 billion. Aww man it's worse than I thought. Thanks for that.
"Don't trade to trade . . . trade to win." - James16
  • #190,134
  • Aug 20, 2009 7:08pm Aug 20, 2009 7:08pm
Quoting sinner-
Hi malcom, just wanted to say even though I'm a newbie member here I've been reading your posts for a long time now and found them more useful than anyone else on this site except maybe errich fx number levels. Especially because I do most of my trading during Tokyo while I'm at work (live in Melbourne, Aus) I don't have access to my brokers volume data.

You deserve a big thankyou for that

I looked at the post you provided, 6450 seems hard to reach right now with buying around 6470 and 154.5 seeming to hold on G/J?
it would be unusual for gu to drop in tokyo 150 pip... so we move down 50 this session , then a bit more LOndon and IF dj plays out the way i think it may anopther 100 in US session

i am selling all rallies gj , sold 155.50 to 154.50 then 154.85 to 154.50

now looking for next sell , after eating and going to gym , so taking 2 hours off and back for London

GJ could well be at 153 OR lower by close tomorrow

3 hr chart attached

Attached Image (click to enlarge)
Click to Enlarge Name: chart333.png Size: 206 KB
Blogging daily now at www.volume.zone
  • #190,135
  • Aug 20, 2009 7:11pm Aug 20, 2009 7:11pm
Can someone enlightened me?

Which session start at when. Tokyo session.. London.. Us.. etc etc. Can someone tell me in the form of GMT? Thanks in advance..
Read the entire market, money is made on the main trend not the fluctuation
  • #190,136
  • Aug 20, 2009 7:16pm Aug 20, 2009 7:16pm
Attached Image (click to enlarge)
Click to Enlarge Name: mine...JPG Size: 146 KB

spirit 0f pipping
  • #190,137
  • Aug 20, 2009 7:19pm Aug 20, 2009 7:19pm
Quoting Kofmaster
Can someone enlightened me?

Which session start at when. Tokyo session.. London.. Us.. etc etc. Can someone tell me in the form of GMT? Thanks in advance..
pst
tokyo 5 pm
china 6 pm
frankfurt 11pm
london 12pm
us session 6:30 am

these are stock market hours
Blogging daily now at www.volume.zone
  • #190,138
  • Aug 20, 2009 7:21pm Aug 20, 2009 7:21pm
Quoting Kofmaster
Can someone enlightened me?

Which session start at when. Tokyo session.. London.. Us.. etc etc. Can someone tell me in the form of GMT? Thanks in advance..

http://www.tradingcurrencyonline.com/timezones.html

also its on the home page of FF


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  • #190,139
  • Aug 20, 2009 7:21pm Aug 20, 2009 7:21pm
Just use www.forexmarkethours.com
  • #190,140
  • Aug 20, 2009 7:25pm Aug 20, 2009 7:25pm
Thanks so much everyone
Read the entire market, money is made on the main trend not the fluctuation
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