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

  • #198,381
  • Sep 17, 2009 3:16am Sep 17, 2009 3:16am
Quoting malcolmb14
gann at 150.50 ?

2 high volume pivots there also
it was at 150.50 the first time it got rejected, now it has come down to 150.20 but yah that area has been tough for it to break.
Trade what you see, not what you think.
  • #198,382
  • Sep 17, 2009 3:18am Sep 17, 2009 3:18am
Quoting karmostaji
it was at 150.50 the first time it got rejected, now it has come down to 150.20 but yah that area has been tough for it to break.

thanks
Blogging daily now at www.volume.zone
  • #198,383
  • Sep 17, 2009 3:20am Sep 17, 2009 3:20am
AND?YOU LONG,,
  • #198,384
  • Sep 17, 2009 3:20am Sep 17, 2009 3:20am
Quoting karmostaji
GJ couldn't get above 4h gann 3 times, I remain a bear until further notice
Funnily enough, I think the opposite now. My 4hr Gann has flipped to bullish, as has it's QQE. Price is currently sitting just below the 5sma, but my plan for the forseeable is to enter a long position every 4 hours until the Gann has crossed back down. There is a risk we continue down from here, but the risk/reward is good I think. Also slightly increased volume on the last down candle signifying buyers I think. We'll see......

I did enter a small short position yesterday on this rise, but closed it. The basic reason is because I wasn't sure it would work without some drawdown first.

I think shorts are still on the table, but for now I am long bias.

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr gann.gif Size: 25 KB
  • #198,385
  • Sep 17, 2009 3:24am Sep 17, 2009 3:24am
Bad news,149 and up....good news maybe big spike to 150.60..
  • #198,386
  • Sep 17, 2009 3:24am Sep 17, 2009 3:24am
Quoting sinner-
http://www.reuters.com/article/usDol...48344220090917 Here why
strong yen... more down likely
  • #198,387
  • Sep 17, 2009 3:28am Sep 17, 2009 3:28am
Quoting ukdaytrader
Funnily enough, I think the opposite now. My 4hr Gann has flipped to bullish, as has it's QQE. Price is currently sitting just below the 5sma, but my plan for the forseeable is to enter a long position every 4 hours until the Gann has crossed back down. There is a risk we continue down from here, but the risk/reward is good I think. Also slightly increased volume on the last down candle signifying buyers I think. We'll see......

I did enter a small short position yesterday on this rise, but closed it. The basic reason is because I wasn't sure...
.
Attached Image
Trade what you see, not what you think.
  • #198,388
  • Sep 17, 2009 3:30am Sep 17, 2009 3:30am
i believe that mr malc is looking gbpjpy in the short run.

i believe the main trend is bearish and that gbpjpy is not 'fully oversold'
  • #198,389
  • Sep 17, 2009 3:38am Sep 17, 2009 3:38am
Quoting pirata
Bad news,149 and up....good news maybe big spike to 150.60..
Now this is proof that news has no bairing on trading. Instead of droping hard, its getting baught into. What a scam fx is. Just trade the oposite to news thats if you trade news.
  • #198,390
  • Sep 17, 2009 3:40am Sep 17, 2009 3:40am
Quoting bill77
Now this is proof that news has no bairing on trading. Instead of droping hard, its getting baught into. What a scam fx is. Just trade the oposite to news thats if you trade news.
they just used the weakness to buy into it .. right on that 149.80 line

overall retial data not that bad

and markets very bullish

ftse actually going up now
Blogging daily now at www.volume.zone
  • #198,391
  • Sep 17, 2009 3:41am Sep 17, 2009 3:41am
Going up to where..151?lol
  • #198,392
  • Sep 17, 2009 3:43am Sep 17, 2009 3:43am
Quoting bill77
Now this is proof that news has no bairing on trading. Instead of droping hard, its getting baught into. What a scam fx is. Just trade the oposite to news thats if you trade news.
To be fair, the news wasn't that far from expectation, so a hard drop can not be expected.
But you're right, news is bollox. Big boys took the opportunity to buy.
  • #198,393
  • Sep 17, 2009 3:43am Sep 17, 2009 3:43am
Quoting pirata
Going up to where..151?lol

do you want a target

153.5..that is where


look bad news gbp .. NO sellers

they just bought the weakness..
Blogging daily now at www.volume.zone
  • #198,394
  • Sep 17, 2009 3:44am Sep 17, 2009 3:44am
Quoting bill77
Now this is proof that news has no bairing on trading. Instead of droping hard, its getting baught into. What a scam fx is. Just trade the oposite to news thats if you trade news.
But, don't do it 100% of the time, because the BS factor will only let you win 50% of the time!

Actually in this case - once you trade GY/GU long enough, and get to know it, you can make pips both ways, regardless of what the institutional cybermonkeys decide to do.
  • #198,395
  • Sep 17, 2009 3:46am Sep 17, 2009 3:46am
Quoting karmostaji
.
Hmmm, i'll have to be very careful here, 'cos you're the man who's taught me most about Gann+QQE trading. I certainly won't disagree there's more downside possible, but charts and PA have looked bullish to me since 148.80.

We'll see....
  • #198,396
  • Sep 17, 2009 3:47am Sep 17, 2009 3:47am
153...lol..ok wath day malcolm?
  • #198,397
  • Sep 17, 2009 3:49am Sep 17, 2009 3:49am
Quoting pirata
153...lol..ok wath day malcolm?
1st 151.50....

151.50 maybe in US if indexes keep moving up and us new not bad
Blogging daily now at www.volume.zone
  • #198,398
  • Sep 17, 2009 3:49am Sep 17, 2009 3:49am
Quoting malcolmb14
they just used the weakness to buy into it .. right on that 149.80 line

overall retial data not that bad

and markets very bullish

ftse actually going up now
July 1.2 Aug 0.4 Now results are 0.0 if the decrease in the last 3 months are not looked as bad, Then i am missing something. Just want to say is folow charts i supose. bounce of daily pivot.
  • #198,399
  • Sep 17, 2009 3:51am Sep 17, 2009 3:51am
Quoting malcolmb14
do you want a target

153.5..that is where


look bad news gbp .. NO sellers

they just bought the weakness..
I agree we are going up but 150.80 has a lot of resistance

DR 1
50% Retrace on move 153.00, 148.50
upper trend line 4h
  • #198,400
  • Sep 17, 2009 3:51am Sep 17, 2009 3:51am
151,50,,,a my god,,
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