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

  • #197,641
  • Sep 15, 2009 6:55pm Sep 15, 2009 6:55pm
here is what I have for a tokyo trade

1) mark down before tokyo opens
2) pivot low 149.80
3) 1-2-3 buy formation fe 100 = 150.70 , fe 138 = 151
4) retracement of move 151.80 to 149.40 , 50% = 150.60 , 61.8 = 150.90


a retracement in asia would be nice ... as this would entice new sellers.

of course if 149.80 low taken out set up is off ...

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Blogging daily now at www.volume.zone
  • #197,642
  • Sep 15, 2009 6:57pm Sep 15, 2009 6:57pm
Quoting A-speculator
what if they find that GJ is supposedly overvalue.. instead giving the chance to short to others, why not they have it for themselves first?..
I do not think any trader who can move the market think like this.

We have an M15 inside bar high 150.055 low 149.867, I wait for it to break either way to get direction.
  • #197,643
  • Sep 15, 2009 7:02pm Sep 15, 2009 7:02pm
Quoting sinner-
I do not think any trader who can move the market think like this.

We have an M15 inside bar high 150.055 low 149.867, I wait for it to break either way to get direction.
Ok then, consider this. We have a substantial move up at the end of NY session, considers the average daily range of GJ. Now, for a healthy move down, the retracement should be around 38%. If you study GU & UJ, you can see that both pair has already achieved the ideal retracement and perhaps ready for bear move.. Well that's my thought..
  • #197,644
  • Sep 15, 2009 7:02pm Sep 15, 2009 7:02pm
Quoting malcolmb14
here is what I have for a tokyo trade

1) mark down before tokyo opens
2) pivot low 149.80
3) 1-2-3 buy formation fe 100 = 150.70 , fe 138 = 151
4) retracement of move 151.80 to 149.40 , 50% = 150.60 , 61.8 = 150.90


a retracement in asia would be nice ... as this would entice new sellers.

of course if 149.80 low taken out set up is off ...

Attachment
yeah it doesn't look like a markdown although a pretty weak one at that. 20 pips in total

Guess my comments yesterday was right. Bernanke came out as and said:

Guesstimate: We are in a bull market
Actual: We are most likely out of recession.

ehh close enuff
  • #197,645
  • Sep 15, 2009 7:05pm Sep 15, 2009 7:05pm
The main agenda for the movement today is the reaction towards 149.50.. if we can get a breakout of this price even in asia session, the correction will be up to this support which will then fulfill the oversold view.. my 2 cents..
  • #197,646
  • Sep 15, 2009 7:07pm Sep 15, 2009 7:07pm
Quoting sinner-
If Tokyo wants it to tank why would they sell from 149? They push her up all day until Frankfurt open, reverse positions to short and let London/New York do the dirty work.

Look at the last 10 M5 candles, I see buyers in those candles.

Also, Nikkei wants to go back to 10350 before she falls I think.
Because Asia is of a more timid market not like brutal NY's
  • #197,647
  • Sep 15, 2009 7:12pm Sep 15, 2009 7:12pm
Quoting malcolmb14
here is what I have for a tokyo trade

1) mark down before tokyo opens
2) pivot low 149.80
3) 1-2-3 buy formation fe 100 = 150.70 , fe 138 = 151
4) retracement of move 151.80 to 149.40 , 50% = 150.60 , 61.8 = 150.90


a retracement in asia would be nice ... as this would entice new sellers.

of course if 149.80 low taken out set up is off ...

Attachment
i agree with u mal,. gj need rectrace.. and then new low...
  • #197,648
  • Sep 15, 2009 7:13pm Sep 15, 2009 7:13pm
for those late to the party setup beginning to become valid 6h chart
Attached Image (click to enlarge)
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"Millionaires don't use astrology, billionaires do"
  • #197,649
  • Sep 15, 2009 7:13pm Sep 15, 2009 7:13pm
To many people make it to hard for them selves. first you fight with technicals, then you add fundamental reasons now there is a third, cospiracy theories. guessing (well trying to) what the institutions are doing. Give up trading if i was some of you. you cant win with that many obsticles. or keep it simple and stick to charts only. charts will tell you where its going. By the way, why must big players move price one direction only to reverse it? is there not enough money in forex to hit the market at any point. Not going to get in an argument i said what i wanted to say and happy trading.
  • #197,650
  • Sep 15, 2009 7:14pm Sep 15, 2009 7:14pm
Quoting A-speculator
The main agenda for the movement today is the reaction towards 149.50.. if we can get a breakout of this price even in asia session, the correction will be up to this support which will then fulfill the oversold view.. my 2 cents..
yup 149.50 is a strong key level

staying above that level will make GJ bounce to 151.xx area
  • #197,651
  • Sep 15, 2009 7:15pm Sep 15, 2009 7:15pm
upto the Chinese crazy guys .... seems fx waiitng to see open of Hong Kong and Shanghai.

Nikkie opened up as expected .. gj still .... boring..

i think the last week or so those lovely moves we used to see in Asia are not there any more. The market dynamics have changed somewhat over the last 2 - 4 weeks I have noticed.
Blogging daily now at www.volume.zone
  • #197,652
  • Sep 15, 2009 7:16pm Sep 15, 2009 7:16pm
Quoting bill77
To many people make it to hard for them selves. first you fight with technicals, then you add fundamental reasons now there is a third, cospiracy theories. guessing (well trying to) what the institutions are doing. Give up trading if i was some of you. you cant win with that many obsticles. or keep it simple and stick to charts only. charts will tell you where its going. By the way, why must big players move price one direction only to reverse it? is there not enough money in forex to hit the market at any point. Not going to get in an argument...
I guess he is right.. why think about other people doing? Just trade your system.. Nice reminder..
  • #197,653
  • Sep 15, 2009 7:16pm Sep 15, 2009 7:16pm
Quoting malcolmb14
here is what I have for a tokyo trade

1) mark down before tokyo opens
2) pivot low 149.80
3) 1-2-3 buy formation fe 100 = 150.70 , fe 138 = 151
4) retracement of move 151.80 to 149.40 , 50% = 150.60 , 61.8 = 150.90


a retracement in asia would be nice ... as this would entice new sellers.

of course if 149.80 low taken out set up is off ...

Attachment
I've seen 78 and 79, taken off? Buy candles also have lower volume and sell candles higher volume.
"Hate the sin, love the sinner." - Gandhi
  • #197,654
  • Sep 15, 2009 7:20pm Sep 15, 2009 7:20pm
Quoting OrionsWay
for those late to the party setup beginning to become valid 6h chart
wow your bullish welcome to the club
  • #197,655
  • Sep 15, 2009 7:21pm Sep 15, 2009 7:21pm
Quoting TheGabriel
I've seen 78 and 79, taken off? Buy candles also have lower volume and sell candles higher volume.
sell candles higher volume can ALWAYS be hidden buying.....particularly if they occur on a 15 min chart. Pros will always buy into weakness and sell into strength.

This is where newbies go wrong... on news they see large volume on an up or down candle they trade it right away instead of waiting to see the reaction to the ultra high volume. Often up moves associated with volumeo n good news are sellers... and down moves on weakness buyers. This is the basci principle of vsa
Blogging daily now at www.volume.zone
  • #197,656
  • Sep 15, 2009 7:21pm Sep 15, 2009 7:21pm
Quoting bill77
To many people make it to hard for them selves. first you fight with technicals, then you add fundamental reasons now there is a third, cospiracy theories. guessing (well trying to) what the institutions are doing. Give up trading if i was some of you. you cant win with that many obsticles. or keep it simple and stick to charts only. charts will tell you where its going. By the way, why must big players move price one direction only to reverse it? is there not enough money in forex to hit the market at any point. Not going to get in an argument...
I am getting so sick of being ratted on for speculating in this thread while waiting for PA to move!

What is the point of even talking here then if we can't share our views.

The PA is slow, guess what, I will post here with my opinion. If you don't like it, then don't read it. Put me on your ignore list please!

As for the idea of "conspiracy" what a joke, yeah right mate, it's simple to me maybe difficult for you to understand: TOKYO WILL NOT BREAK THIS RANGE TODAY. THEREFORE SHE MUST GO UP.

PS: Why do people in this thread keep telling me I can't win? I have no trouble collecting my pips every day.
  • #197,657
  • Sep 15, 2009 7:22pm Sep 15, 2009 7:22pm
Quoting msniper
wow your bullish welcome to the club
MS i am what the market dictates thats it, when something changes i bend so i dont break from being too rigid, just think yurself u could of held your bias and gained roughly 8-9 points already and be back in at bottom floor again for a new round

my overall bias is bear for reason that will be shown later in time, and for taht the market will get hurt again, till then shake the dice

Bill77 really said it, the market inhales and exhales everyday
"Millionaires don't use astrology, billionaires do"
  • #197,658
  • Sep 15, 2009 7:25pm Sep 15, 2009 7:25pm
Quoting msniper
i believe today we will see GJ in 151.xx area

hope it will kill that area am sick of waiting as i see lots of chances but GJ is taking alot of my margin i dont want to risk in other trades

149 still holding until now

daily close is bearish

but right now its like Fudamental vs EW vs technicals

lets see who will win
There is a lot of talk about 147.XX but from my reading of this I think 149.XX is a more realistic expectation as per historical support.

What do you think? This is my daily...
Attached Image (click to enlarge)
Click to Enlarge Name: Daily.JPG Size: 140 KB
  • #197,659
  • Sep 15, 2009 7:27pm Sep 15, 2009 7:27pm
Quoting OrionsWay
MS i am what the market dictates thats it, when something changes i bend so i dont break from being too rigid, just think yurself u could of held your bias and gained roughly 8-9 points already and be back in at bottom floor again for a new round
well your right. lots of my EW friends booked their profit at 152.xx area and went long now again but i didn't listen to their advice lol

i was thinking that correction might not go down all the way to my entery point

any way tell me more about your view

your thinking also that we gonna visit 1.7000 ?
  • #197,660
  • Sep 15, 2009 7:27pm Sep 15, 2009 7:27pm
Quoting OrionsWay
MS i am what the market dictates thats it, when something changes i bend so i dont break from being too rigid, just think yurself u could of held your bias and gained roughly 8-9 points already and be back in at bottom floor again for a new round

my overall bias is bear for reason that will be shown later in time, and for taht the market will get hurt again, till then shake the dice
Well, in my experience as a swing trader, i can say that.. yes, you can swing 1/several position up to a point you want but giving back all the profits to the market then what is the point to swing the position(s)..
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