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

  • #195,541
  • Sep 8, 2009 10:54am Sep 8, 2009 10:54am
Quoting Sunny66
I was just about to do just that (chasing the train). Thanks
S
No problem man.. at early stage of trading, I always do that a lot and I learned it the hard way. If I were you, let this price go, I know you must still feel a bit frustrated and the what if question is now lingering in your mind (what if I didn't close my order, what if I didn't TP, i might.... etc) so better start fresh tomorrow.. By then, we might have a valid confirmation based on higher TF.. so relax...
  • #195,542
  • Sep 8, 2009 10:55am Sep 8, 2009 10:55am
Gold is down .... down ...
  • #195,543
  • Sep 8, 2009 11:00am Sep 8, 2009 11:00am
Quoting A-speculator
No problem man.. at early stage of trading, I always do that a lot and I learned it the hard way. If I were you, let this price go, I know you must still feel a bit frustrated and the what if question is now lingering in your mind (what if I didn't close my order, what if I didn't TP, i might.... etc) so better start fresh tomorrow.. By then, we might have a valid confirmation based on higher TF.. so relax...
My plan was to tp at dp and then reshort coz I think price will go to 151.5 area (lower side of triangle on 30m chart)
I have to learn to stick to plan and let the SL hit.
  • #195,544
  • Sep 8, 2009 11:00am Sep 8, 2009 11:00am
Quoting mktjong
Gold is down .... down ...

very nice high volume pin 1007 since then dropped ....
Blogging daily now at www.volume.zone
  • #195,545
  • Sep 8, 2009 11:03am Sep 8, 2009 11:03am
Quoting malcolmb14
very nice high volume pin 1007 since then dropped ....
If it closes @994 today, then it's shooting star (doji) on daily.
  • #195,546
  • Sep 8, 2009 11:05am Sep 8, 2009 11:05am
gbpjpy is ranging due to gold games..

gu ranging 1.6600 to 1.6500. which is a godf send for a day trader like me

I posted this last week .... and 1.6600 is cirtical

seems major resistance in gj at 153 zone. we could be forming range 151.50 to 153

ES selling off 1025 x 2 today seems like distribution

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Blogging daily now at www.volume.zone
  • #195,547
  • Sep 8, 2009 11:07am Sep 8, 2009 11:07am
Quoting Sunny66
My plan was to tp at dp and then reshort coz I think price will go to 151.5 area (lower side of triangle on 30m chart)
I have to learn to stick to plan and let the SL hit.
I think you reaction to TP before your SL was hit was a brilliant move. What I mean is,.. at least you are in profits, right? Now, consider your first plan finished. Let's see if we can implement your second plan. I can say your judgement to TP your pos (by considering your experience in the market) was excellent one. Good Job, bro!
  • #195,548
  • Sep 8, 2009 11:10am Sep 8, 2009 11:10am
time for a small analysis. i wanted to show you a trick about how you can use an oscillator to figure out the bias of the market.
some of you probably already know that, some don't know it but have a "gut feeling"... anyway, i thought it's worth mentioning this especially for newbies.

for this example i use CCI because it was one of my favorites and i studied and watched it for a long time. so let's look at the last move down that started at 163.06 (vertical line). you can see that after CCI went below 0, it spent most of the time there; however, from time to time, we see it going up above 0, for short period of times - this is the manifestation of retracements.

now, i marked all CCI spikes. look at the duration of spikes: ALWAYS smaller than previous impulse - i marked all CCI retracements with white lines and arrows. that's how a normal impulse looks.

what happened lately? well, we have a longer "retracement", the one marked in blue. if you compare it to the white ones, the difference is obvious. this last one is LONGER than the others. so this is a sign that this might not be a retracement after all. if we start seeing CCI spending less time below 0 and more time above 0, then it's quite clear that main trend is up.

ok, so what do we do now? well, we wait. from my experience, i can tell you that there will be a small move down, a test of the previous lows @ 149/150 (before we go higher to test 158 ).
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Nihil Sine Deo.
  • #195,549
  • Sep 8, 2009 11:12am Sep 8, 2009 11:12am
Quoting A-speculator
I think you reaction to TP before your SL was hit was a brilliant move. What I mean is,.. at least you are in profits, right? Now, consider your first plan finished. Let's see if we can implement your second plan. I can say your judgement to TP your pos (by considering your experience in the market) was excellent one. Good Job, bro!
need confidence to apply what I learned.
  • #195,550
  • Sep 8, 2009 11:16am Sep 8, 2009 11:16am
Quoting Scrat
time for a small analysis. i wanted to show you a trick about how you can use an oscillator to figure out the bias of the market.
some of you probably already know that, some don't know it but have a "gut feeling"... anyway, i thought it's worth mentioning this especially for newbies.

for this example i use CCI because it was one of my favorites and i studied and watched it for a long time. so let's look at the last move down that started at 163.06 (vertical line). you can see that after CCI went below 0, it spent most of the time there; however,...
nice poost ..as i mentioned I will be bullish if we see test of thosel ows , but other than that lest trade the snot out of this lovely range !!! gu produced over 200 in range in us session
Blogging daily now at www.volume.zone
  • #195,551
  • Sep 8, 2009 11:26am Sep 8, 2009 11:26am
thanks.
yes, a test would be cool. but when i look at smaller tfs (especially h1), i think we might not see it. at least for g-j.

Quoting malcolmb14
nice poost ..as i mentioned I will be bullish if we see test of thosel ows , but other than that lest trade the snot out of this lovely range !!! gu produced over 200 in range in us session
Nihil Sine Deo.
  • #195,552
  • Sep 8, 2009 11:26am Sep 8, 2009 11:26am
Thanks guys, but igot into a worse situation, got short too early hahaha but still at learning stage with micro acct, but really got opportunity to meet this thread is really my luck
  • #195,553
  • Sep 8, 2009 11:30am Sep 8, 2009 11:30am
We might make new lows in UJ 4h.. will it break it?
  • #195,554
  • Sep 8, 2009 11:35am Sep 8, 2009 11:35am
Quoting Scrat
time for a small analysis. i wanted to show you a trick about how you can use an oscillator to figure out the bias of the market.
some of you probably already know that, some don't know it but have a "gut feeling"... anyway, i thought it's worth mentioning this especially for newbies.

for this example i use CCI because it was one of my favorites and i studied and watched it for a long time. so let's look at the last move down that started at 163.06 (vertical line). you can see that after CCI went below 0, it spent most of the time there; however,...
if you are confident there will be a test of 150 or 149, why not short until we get there? thats over 200 pips away so nice profit if it is right?

gj really amaznig today, even EU has managed over 200 pis and gj is sitting at 158 and doesnt look like its going to increase that before the end of the day. so far im flat for the day, disappointing.
  • #195,555
  • Sep 8, 2009 11:41am Sep 8, 2009 11:41am
http://www.forexfactory.com/showpost...stcount=164207
  • #195,556
  • Sep 8, 2009 11:42am Sep 8, 2009 11:42am
my mistake. i should have used "might be", not "will be".
the move down is not confirmed yet. and if you look above, i said that based on lower tfs, there might not be a test of last lows.

Quoting ewokuk
if you are confident there will be a test of 150 or 149, why not short until we get there? thats over 200 pips away so nice profit if it is right?
Nihil Sine Deo.
  • #195,557
  • Sep 8, 2009 11:43am Sep 8, 2009 11:43am
How exactly did you range trade Gbpusd? I don't understand how you do so well range trading.
  • #195,558
  • Sep 8, 2009 11:50am Sep 8, 2009 11:50am
dre3029,
one word ----- EXPERIENCE.
he 'reads the background'. he sees what most of us don't see/notice.
check out his posts, u will learn A LOT.
  • #195,559
  • Sep 8, 2009 11:53am Sep 8, 2009 11:53am
5 min gu .. MUCH nicer than gj ....

here is range and trade set ups. If you can get a 3 min charts going the indicators work well but on 5 min just use candles and s/r zones with goog money management

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  • #195,560
  • Sep 8, 2009 11:54am Sep 8, 2009 11:54am
Quoting malcolmb14
now that is an interesting question

also the dx moved down on ultra low volume..... could be some form of trap move

I shorted gold at 1006 this morning for 1000 test based on 1) no volumeo n up move and 2) upthurst on 5 min with high volume

hit 1000 bang on

this gold move look very suspect to me......but just trade the charts
funny you should mention that about low gold volume. a friend of mine at one of the largest banks siad that there is no demand for gold at 1000 level and alot of supply from central banks. they were waiting for US to see wherether this supply will get absorbed.
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