Thanks!
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #195,562
- Sep 8, 2009 10:01am Sep 8, 2009 10:01am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
How exactly did you range trade Gbpusd? I don't understand how you do so well range trading.
also we have to understand what is moving usd .. it is gold .
gold formed a high volume pin bar at 1007 this morning at about 5:30 am my time ( I start trading 5am)
at that time GU was just forming the third top on a treble top
I did not take all trade I only took this one as it gave me the 50 pips I look for each day in fx.
i also was short gold for 1000 test and ES off 1026 ...so was busy with the futures
GJ we have a channel . I watch price action all day yesterday gj was sold off 153 zone. Then by Asia we got down to 151.50 . We saw on the 15 min charts 2 x tests of 151.30 , one early asia and one in Frankfurt....that gave us support and we know resis in about 153 zone.
The idea in a sideways market like this is not to spend all day in the market , but to get one or 2 trades at the range extremes for 50 to 100 pips.
Blogging daily now at www.volume.zone
- #195,563
- Edited 10:25am Sep 8, 2009 10:06am | Edited 10:25am
- | Joined Oct 2008 | Status: Trader | 1,666 Posts
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
Attachment
i cant see any longs i would have taken but i can see 3 good shorts that look good after the event
one might have been good for 20, another for about 50 and another for 40-50looking at 5min gj, very crappy movement, loads of wicks and pin bars all day. then looking at gu, hardly a wick or pin in sight the whole day. I was looking at the wrong pair!
- #195,564
- Sep 8, 2009 10:06am Sep 8, 2009 10:06am
- | Joined Jul 2008 | Status: Trader | 2,130 Posts
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
- #195,565
- Sep 8, 2009 10:19am Sep 8, 2009 10:19am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
see post
also we have to understand what is moving usd .. it is gold .
gold formed a high volume pin bar at 1007 this morning at about 5:30 am my time ( I start trading 5am)
at that time GU was just forming the third top on a treble top
I did not take all trade I only took this one as it gave me the 50 pips I look for each day in fx.
i also was short gold for 1000 test and ES off 1026 ...so was busy with the futures
GJ we have a channel . I watch price action all day yesterday gj was sold off 153 zone. Then by Asia we got down to...
- #195,566
- Sep 8, 2009 10:38am Sep 8, 2009 10:38am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Based on PA today, GU is kinda destined to 1.67 (61.8% retrace) before down again.
wake up .. oh gold moving fast from 1500 to 2000 better buy gu
go to bed wake up next day gold moving fast from 1500 to 2000 oh better sell gu
lol .. the markets are very uncertain and one minute dj tanking during Sept and next dj being held up and going to 10200
I know one thing for sure. . find a range or test s/r on 5 min with looking at 15 min then 50 pips a day can be had with minimal draw down, rather than worrying about is your swing trade with a 400 pip stop going to be stopped out overnight only to find that during the next trading session you would have made 200 pip
Blogging daily now at www.volume.zone
- #195,567
- Sep 8, 2009 10:43am Sep 8, 2009 10:43am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
no idea any more .... I am giving up on trying to guess direction ...
wake up .. oh gold moving fast from 1500 to 2000 better buy gu
go to bed wake up next day gold moving fast from 1500 to 2000 oh better sell gu
lol .. the markets are very uncertain and one minute dj tanking during Sept and next dj being held up and going to 10200
I know one thing for sure. . find a range or test s/r on 5 min with looking at 15 min then 50 pips a day can be had with minimal draw down, rather than worrying about is your swing trade with a 400 pip stop...
- #195,568
- Sep 8, 2009 10:46am Sep 8, 2009 10:46am
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,...
- #195,570
- Sep 8, 2009 11:24am Sep 8, 2009 11:24am
- | Joined Feb 2009 | Status: Witness Protection | 132 Posts
Anybody here can explain what can we expect from lehman issues? I really don't understand the impact to financial market. Thank you in advance.
Without a trade plan, say bye bye to your account & hello to frustration.
- #195,576
- Sep 8, 2009 12:24pm Sep 8, 2009 12:24pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Been up for hours waiting for some volatility, now am too tiered to stay up an the best part may be about to start. Well you will tell me about it tomorrow good night off for some zzzz
GU has been where all the action is
This may be a pull back ...SSE and nikkei daily bullish
152 to 151.70 may be support zone.
I can see some of you have not been trading fx that long
3 years ago gj range was only 145 pips ... a 150 pip channel like last 24 hours we would be buzzing with excitement
Blogging daily now at www.volume.zone
- #195,579
- Sep 8, 2009 12:31pm Sep 8, 2009 12:31pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
