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

  • #196,841
  • Sep 11, 2009 12:19pm Sep 11, 2009 12:19pm
Really, malcolmb is known for intraday trading..

It is only the past six months I changed to short term but swing trade on a major reversal..



Quoting Maks
Thank you.

Tried swing trading (keeping position for few days), did not like it much. I thought the advantage of swing trading is that one can spend less time staring at the monitor, but that was not my case lol. I'll better stick to rggit05 strategy. Intraday, positions closed at the end of the day. I call it "Grab and Run!".
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  • #196,842
  • Sep 11, 2009 12:28pm Sep 11, 2009 12:28pm
Quoting rgitt05
Really, malcolmb is known for intraday trading..

It is only the past six months I changed to short term but swing trade on a major reversal..

It's a beautiful day eh bro.. Are the bulls dead? . From my analysis, we might move down a lot more next week. Stay tuned bro.. happy weekend.
  • #196,843
  • Sep 11, 2009 12:28pm Sep 11, 2009 12:28pm
Quoting FxClown
Thanks Sunny66

I am really not a clown? I do know a bit. I was just kidding about Doji/elbow..etc.

Malcolm and a few others here are real experts and I just was curious as to significance of a Doji at 61.8 Fib.
I'll go of course google it but if anyone can explain here then I should help other too.
then you should know that a doji at resistance = stronger potential reversal signal... wait for confirmation and just press button and get richer lol
  • #196,844
  • Sep 11, 2009 12:31pm Sep 11, 2009 12:31pm
MARK UP SPECIAL for another opportunity to short again..

It was a great week for me scalping this range and swing trade.

Have a great weekend..

Trade your charts



Quoting A-speculator
It's a beautiful day eh bro.. Are the bulls dead? . From my analysis, we might move down a lot more next week. Stay tuned bro.. happy weekend.
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  • #196,845
  • Sep 11, 2009 12:37pm Sep 11, 2009 12:37pm
Hi Everyone,

I have followed this site for some time and have learnt a great deal.
Whilst I am new to this forum, I am not such a Newbie with Forex.

I feel I should now contribute some of my views in an effort to give something back to the members and forum that has given me so much.
  • #196,846
  • Sep 11, 2009 12:49pm Sep 11, 2009 12:49pm
Quoting Sunny66
then you should know that a doji at resistance = stronger potential reversal signal... wait for confirmation and just press button and get richer lol
you did it right eh this time... good job!
  • #196,847
  • Sep 11, 2009 12:57pm Sep 11, 2009 12:57pm
Quoting A-speculator
you did it right eh this time... good job!
I'm getting a grab of the technical just have to focus on mental toughness and I should get more consistency, not that I can complain as I have acheived my 1.25% daily goal for five weeks in a row now. If I can be more accurate and selective in my entries I will be able to relieve some stress, I guess this comes with experience.
  • #196,848
  • Sep 11, 2009 1:05pm Sep 11, 2009 1:05pm
Quoting feardox
enjoy then
Are you enjoying the game bro?
  • #196,849
  • Sep 11, 2009 1:06pm Sep 11, 2009 1:06pm
Quoting XTrade
What's the deal with the dragon?

All this momentum then bam. Brick wall.....
was Hoping to continue south to 150.0

one thing that mrsniper has made me realize is expect the retraces

150.50 to reatrce back to 151.50( 31.8%) was expected.

Sudden down moves during US when s&p sideways cannot be sustained.

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  • #196,850
  • Sep 11, 2009 1:06pm Sep 11, 2009 1:06pm
Quoting Sunny66
I'm getting a grab of the technical just have to focus on mental toughness and I should get more consistency, not that I can complain as I have acheived my 1.25% daily goal for five weeks in a row now. If I can be more accurate and selective in my entries I will be able to relieve some stress, I guess this comes with experience.
every big things start with small things... take your time..
  • #196,851
  • Sep 11, 2009 1:10pm Sep 11, 2009 1:10pm
Quoting malcolmb14
one thing that mrsniper has made me realize is expect the retraces

150.50 to reatrce back to 151.50( 31.8%) was expected.

Sudden down moves during US when s&p sideways cannot be sustained.

Attachment
good stuff Malcom thanks!
  • #196,852
  • Sep 11, 2009 1:19pm Sep 11, 2009 1:19pm
Quoting Sunny66
good stuff Malcom thanks!

what do we know?

last week most of range 153 to 151.50

selling off 153 when all around us was going nuts (GU , SSE , FTSE , DAX , and us indexes)..not really bullish

today we found the power to break thru the floor of 151.50 and now that is our ceiling. Often break levels have to be tested , that maybe the move that we saw 150.50 to 151.50.

Now if we get a 2 hour close back above 151.50 during a higher volume session like London or us , then the wave 4 pattern could be void , we are back in range and 153 is our target

IF and oNLY if this is the case ( back above 151.50) then this is bullish for gj for move to 155 test (weekly point of control as pointed out by scrat).

There are 2 sceanrioes that could play out ...and price action at key s/r zones is the thing to watch.

I am still favouring the down move to 147 and lower in the next 30 days and I expect some form of pull back on the indexes before end of October and hence test gj 135

Then I think that earnings season the third quarter of year (october / nov reporting ) will be bullish for markets ... that was where I was calling for 135 test get ready for a 1000 pip long.

Now if this changes I will go into hiding as England33 said ...lol
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  • #196,853
  • Sep 11, 2009 1:29pm Sep 11, 2009 1:29pm
Isnt that a head and shoulders on gu weekly with decreasing volume?
  • #196,854
  • Sep 11, 2009 1:33pm Sep 11, 2009 1:33pm
Quoting malcolmb14
this is from ew software ... not me

however if this is correct then here is a liekly scenario for move to 1`355 based on retracements and fib extension in a wave 5 pattern to form wave 3 on major pattern

135 be ready for 1000 pip long

147 bounce 150 then 140 bounce 144 then 135 bounce 144 depnding on grade of slope nov 15th whole move completed

the chart on this post is STILL valid......not hiding...

153,60 we did not break....147 could be next target after retest 151.50. The move down will NOT be overnight and will go in several waves. What we will be looking for is lower highs on a 4 hour chart and reatrcements of down move no more than 50 %
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  • #196,855
  • Edited 2:20pm Sep 11, 2009 1:50pm | Edited 2:20pm
Quoting malcolmb14
what do we know?

last week most of range 153 to 151.50

selling off 153 when all around us was going nuts (GU , SSE , FTSE , DAX , and us indexes)..not really bullish

today we found the power to break thru the floor of 151.50 and now that is our ceiling. Often break levels have to be tested , that maybe the move that we saw 150.50 to 151.50.

Now if we get a 2 hour close back above 151.50 during a higher volume session like London or us , then the wave 4 pattern could be void , we are back in range and 153 is our target

IF and oNLY if...
From my study of acceleration and momentum, there is absolutely no possibility to test higher than 153.50 in the coming weeks.. The momentum and acceleration is pointing down. This is also true for EJ & UJ. Anyway, this might be our last leg down. However, I cannot provide you yet how far is the wave as currently as there is no indication of slowing down in acceleration for weekly TF. Until we see weekly deceleration of the down move, then we can say that the DT is nearly finish.
  • #196,856
  • Sep 11, 2009 1:53pm Sep 11, 2009 1:53pm
Quoting psv
Probably next week.
please clarify how do you count waves 1, 2, 3?
  • #196,857
  • Sep 11, 2009 2:13pm Sep 11, 2009 2:13pm
Piters, since you are in Gold here is an interesting article about gold:

http://goldversuspaper.blogspot.com/...ha-moment.html
Attached Image
  • #196,858
  • Sep 11, 2009 2:14pm Sep 11, 2009 2:14pm
Quoting malcolmb14
the chart on this post is STILL valid......not hiding...

153,60 we did not break....147 could be next target after retest 151.50. The move down will NOT be overnight and will go in several waves. What we will be looking for is lower highs on a 4 hour chart and reatrcements of down move no more than 50 %
Thank you Malcolm.

The fact that we only retraced 23.8% from 163 to 149 may indicate that we may go to 147 from here in slow fashion?

I can not think of anything bullish to come out to take geppy much higher from here....from that viewpoint I would think we are going to "drift" lower to 147...and then take it from there?
  • #196,859
  • Sep 11, 2009 2:26pm Sep 11, 2009 2:26pm
Quoting I like steak
Thank you Malcolm.

The fact that we only retraced 23.8% from 163 to 149 may indicate that we may go to 147 from here in slow fashion?

I can not think of anything bullish to come out to take geppy much higher from here....from that viewpoint I would think we are going to "drift" lower to 147...and then take it from there?

I think so . the last move off 149 was not that bullish .. a 500 pip up move is nothing for GJ.

GU is testing that 1.6700 level and seems like it may break out to upside yet so we have to watch that

The indexes are forming new highs for year .. also have to watch that they do not explode to upside.

The 147 and lower level is very easy to hit IF we get the 10% pullback in the inxes that I am expecting between now and end of October

here is dj chart for 61.8% reatracement of move up... that is where 10% comes from . This will be just enough to boost the dollar and pull gu off 1.6700 / 1.7000 zone thus dropping gj into 135.

DJ is bearish based on
1) massive bear div rsx
2) bearish declining volume

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  • #196,860
  • Sep 11, 2009 2:41pm Sep 11, 2009 2:41pm
Quoting ukdaytrader
Great posts.

Gold on a tear overnight. A retest of 1005.90 today looks more than likely.
Although GY is stuck in range, it's starting to look like some major shake-outs/moves are approaching. The problem I have is that down looks too easy. The whole trading world is waiting to sell, it's all over CNBC and Bloomies, volumes are low too, so the big players are not playing. No one buys this upmove.

Msniper, hope your circumstances sort themselves out. I respect your ability to not get scared from your analysis and you have been right...
....Thanks..:nerd:...
Markets are not Random, they are designed!
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