Daily channel rules over 3hr chart..
down channel was broken and tested imho wasnt ?
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Auslanco - GBP/JPY and GBP/USD (newstrade)
- #199,102
- Sep 21, 2009 5:51pm Sep 21, 2009 5:51pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
Price action have to break the daily down channel for my bias to change..
seems she is resting right on the 3day supply line
that thick yellow
"Millionaires don't use astrology, billionaires do"
- #199,103
- Sep 21, 2009 5:55pm Sep 21, 2009 5:55pm
- Joined Jul 2008 | Status: Invincible | 3,619 Posts
Daily channel rules over 3hr chart..
- #199,105
- Sep 21, 2009 6:13pm Sep 21, 2009 6:13pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #199,108
- Sep 21, 2009 6:16pm Sep 21, 2009 6:16pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Since China is the only major market open during Asian time, I would expect major breakout to the downside at 10pm.
China Said to Consider Buying Gold From IMF, Market News Says
China may purchase some of the 403.3 metric tons of gold being offered by the International Monetary Fund, Market News International reported, citing two unidentified government sources. China will consider the purchase to diversify its reserves if the price is right and the potential return relatively high, the report said, citing one of the sources. There is no indication China is seeking to buy all of the gold on offer, the report said, citing no one. The IMF board approved the sales, valued at about $13 billion, pledging to avoid disrupting the market with the transactions and saying it would “stand ready to sell gold directly to central banks,” according to a statement
http://www.bloomberg.com/apps/news?p...d=aklIw7I0Di8k
Wait and see.
China Said to Consider Buying Gold From IMF, Market News Says
China may purchase some of the 403.3 metric tons of gold being offered by the International Monetary Fund, Market News International reported, citing two unidentified government sources. China will consider the purchase to diversify its reserves if the price is right and the potential return relatively high, the report said, citing one of the sources. There is no indication China is seeking to buy all of the gold on offer, the report said, citing no one. The IMF board approved the sales, valued at about $13 billion, pledging to avoid disrupting the market with the transactions and saying it would “stand ready to sell gold directly to central banks,” according to a statement
http://www.bloomberg.com/apps/news?p...d=aklIw7I0Di8k
Wait and see.
3day chart
seems she is resting right on the 3day supply line
that thick yellow
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- #199,109
- Sep 21, 2009 6:16pm Sep 21, 2009 6:16pm
- | Joined Jun 2008 | Status: Professional Frontrunning Troll | 2,312 Posts
- #199,110
- Sep 21, 2009 6:17pm Sep 21, 2009 6:17pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
30 min all we have seen is selling on this low volume move up , last one was on the effort to move up that got heaviliy sold into
in order for gj to break to 155 .. GU has to something amazing and right now she can barely move up to a reatrce of 1.6400
ES has 3 daily dojis in a row ... this chart pattern has often lead to a one or 2 day sell off.
I am still selling rallies unitl I see some buying convincing me otherwise
today i was day trading GU...very nice
in order for gj to break to 155 .. GU has to something amazing and right now she can barely move up to a reatrce of 1.6400
ES has 3 daily dojis in a row ... this chart pattern has often lead to a one or 2 day sell off.
I am still selling rallies unitl I see some buying convincing me otherwise
today i was day trading GU...very nice
Blogging daily now at www.volume.zone
- #199,112
- Sep 21, 2009 6:28pm Sep 21, 2009 6:28pm
- | Joined May 2009 | Status: Want money, not necessarily skills | 1,113 Posts
"Hate the sin, love the sinner." - Gandhi
in order for gj to break to 155 .. GU has to something amazing and right now she can barely move up to a reatrce of 1.6400
today i was day trading GU...very nice
Attachment
The 4hour chart looks a bit more dramatic...
I am like a kid with a new bycicle ... with the highlights
- #199,114
- Sep 21, 2009 6:40pm Sep 21, 2009 6:40pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
It bounced very nicely of that support line today...the daily's highlighted area...
The 4hour chart looks a bit more dramatic...
I am like a kid with a new bycicle ... with the highlights
the bounce off support on pripor moves has been fast and furious...this move has had almost no buying pressure
we have just come thru a US session and THE BEST gu can manage is a 70 pip bounce off A major support on daily.
forget anything other than price action on this one.... simple thing is with all the crazy moves gu has seen last 6 weeks 70 pip is NOTHING , in fact ignoring the wicks on 30 min candles the move has really only been 50 pip
Blogging daily now at www.volume.zone
- #199,115
- Sep 21, 2009 6:48pm Sep 21, 2009 6:48pm
- Joined Apr 2007 | Status: Senior Principal Trader | 2,699 Posts
i think ill close out after asia and come back wednesday no point in fighting the market - very painful
- #199,117
- Sep 21, 2009 6:54pm Sep 21, 2009 6:54pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
The COT Index is the percentile of the difference between net speculative positioning and net commercial positioning measured over a specific number of weeks (either 52 or 13). A reading close to 0 suggests that a bottom is forming and a reading close to 100 suggests that a top is forming.
Readings of 95 and higher as well as 5 and lower are in boldfaced red type to indicate potential market extremes. For example, an increasing index is bullish until the index is extreme (near 100), at which time the risk of a reversal or pause in the trend increases.
Readings of 95 and higher as well as 5 and lower are in boldfaced red type to indicate potential market extremes. For example, an increasing index is bullish until the index is extreme (near 100), at which time the risk of a reversal or pause in the trend increases.
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- #199,119
- Sep 21, 2009 7:00pm Sep 21, 2009 7:00pm
- Joined Jun 2006 | Status: Trend is not my friend | 1,492 Posts
- #199,120
- Sep 21, 2009 7:01pm Sep 21, 2009 7:01pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone