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

  • #203,701
  • Oct 15, 2009 11:29am Oct 15, 2009 11:29am
Quoting donfriday
148 first tomorrow may not break it ...i think that daily candle need breakout fractal before more continuation...just watch that place possible pull bacl and next week before we break 148 fractal much form there...
the fractal can be @ 149 area.. futhermore, 149 has more relevant resistance compared to 148 area dont you think? Perhaps a daily with spike up to 149 area, it doesn't matter, but most important is I think 149 area has more significant resistance to hold the price either for new sellers or liquidation.
  • #203,702
  • Oct 15, 2009 11:29am Oct 15, 2009 11:29am
Quoting malcolmb14
150 i think is my target ...maybe even back into above 150.

but this is gj we are talking about and each day can be different

I find a neat little trick is plot the high / low and close of prior day on chart and use theser to gauge the sentiment for the day
Malc! Any chance to see a test FL 236 [145] on Asian session?, what tells VSA about nice area to reload longs 'til FL 500 [151]?

Thanks!
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #203,703
  • Oct 15, 2009 11:32am Oct 15, 2009 11:32am
here is gj ...

for newbies get a feel for the markets...see how the up moves react in raltion to the down moves and you will get a feel for if buyers or sellers are in control

if the retracements are no more than 61.8% of the upmoves then bulls still in control

I mentioned this today several times that buy dips on up days like today when price is above the highs of the prior day

I also gave the place to look for the next long , 146.75 to 146.50 on the reatrcement

I have a long off that zone still , holdiong for 148.5 test

why that level ...

1)primary 61.8 retrace of up move , with a little fudge room for overshoots

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  • #203,704
  • Oct 15, 2009 11:35am Oct 15, 2009 11:35am
Quoting OrionsWay
No need for all the fancy bells and whistles, market psychology cannot be inturpreted with the best of anything, either u see it sense it feel it and know it or you are blind period. nothing can change this aspect , not even someone whispering in your ear IMO. But if these things help ppl Fill thy boots.

lolz....truth of the week
MY OPINION NOT FINANCIAL ADVISE
  • #203,705
  • Oct 15, 2009 11:37am Oct 15, 2009 11:37am
im waiting for retrace to 146.30 area for long (61.8 retrace of down move from 150, 61.8 retrace of up move from 118 is also 146.15)

not much left in account, have to string together a whole bunch of successful trades now or im done.
  • #203,706
  • Oct 15, 2009 11:37am Oct 15, 2009 11:37am
Quoting Fudomyo
I agree. the gann hilo works on the same principle but lines make more readable exit targets. I've played with PPs and found the mml to be more concise because it's calculated on a better algorithm. I still pay attention to the DPP but the rest of the sr lines tend not to correlate as well to price movement.
do u heve good pdf for it?
  • #203,707
  • Oct 15, 2009 11:39am Oct 15, 2009 11:39am
Quoting ewokuk
im waiting for retrace to 146.30 area for long (61.8 retrace of down move from 150, 61.8 retrace of up move from 118 is also 146.15)

not much left in account, have to string together a whole bunch of successful trades now or im done.
Bro, just don't overleverage and I'm sure you will be fine. Anyway, GL bro..
  • #203,708
  • Oct 15, 2009 11:41am Oct 15, 2009 11:41am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Mal,

US guys didn't do any shopping of pound today?
It's almost at where UK guys left it!
Does that indicate something?

ams
  • #203,709
  • Oct 15, 2009 11:50am Oct 15, 2009 11:50am
This is a test of the breakout on daily double top, if that plays out price should be heading for 132 next.
  • #203,710
  • Oct 15, 2009 11:55am Oct 15, 2009 11:55am
Quoting ams
Mal,

US guys didn't do any shopping of pound today?
It's exactly left where UK guys left it!
Does that indicate something?

ams

good question indicates London guys are smoking crack and US guys are
in rehab this week

lol

could just be resting before next leg up I have not seen any distribution yet

I think upper target gu could be 1.6400 to 1.6550

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  • #203,711
  • Oct 15, 2009 12:08pm Oct 15, 2009 12:08pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Not sure exactly what happened here today.

If UK buys, US buys as well but they haven't which indictaes it was not something attractive to these guys.

Not sure if Asia will buy now.

Perhaps no one wants to buy the pound anymore at existing prices or they are skeptical.

Sometimes it's the central bank which buys with clearers.
You are right, definetly no sellers not a sign of any distribution.

GS said to buy cable for 170, lol. What UK has to offer for that. No IR apart from NO to QE. That wouldn't make any sense but even sense is sensless in this crazy market.







Quoting malcolmb14
good question indicates London guys are smoking crack and US guys are
in rehab this week

lol

could just be resting before next leg up I have not seen any distribution yet

I think upper target gu could be 1.6400 to 1.6550

Attachment
  • #203,712
  • Oct 15, 2009 12:08pm Oct 15, 2009 12:08pm
now they will wipe out the late longs


Oil gonna fall on its face
"Millionaires don't use astrology, billionaires do"
  • #203,713
  • Oct 15, 2009 12:12pm Oct 15, 2009 12:12pm
Quoting malcolmb14
good question indicates London guys are smoking crack and US guys are
in rehab this week

lol

could just be resting before next leg up I have not seen any distribution yet

I think upper target gu could be 1.6400 to 1.6550

Attachment
how u r going to trade it......break out or pullbake? white the folowing trand line from up to down braking up
  • #203,714
  • Oct 15, 2009 12:21pm Oct 15, 2009 12:21pm
One thing I have come to realize is that markets are all about perception. Look at the US indexes.... at this rate we will be back above 14400 on DJ in no time. YET small business in North America and Europe are dying. And the large firms have become detached from Main Street

fundies make NO sense any more. ..... none

Just wake up ... if price is above yesterdays upper value area then pros wants to buy, below then pros want to sell it.

Often we will have major moves and then consolidation on GU . It moves in stepping patterns.

GJ and gu seem to be in consolidation mode for move up later in London session .... look at ES 1091 ..weekly at new high ... no stopping it till 1200 / 1250 . dj 10800

Recession is over for sure .... next they start to raise interest rates...lol

Quoting ams
Not sure exactly what happened here today.

If UK buys, US buys as well but they haven't which indictaes it was not something attractive to these guys.

Not sure if Asia will buy now.

Perhaps no one wants to buy the pound anymore at existing prices or they are skeptical.

Sometimes it's the central bank which buys with clearers.
You are right, definetly no sellers not a sign of any distribution.

GS said to buy cable for 170, lol. What UK has to offer for that. No IR apart from NO to QE. That wouldn't make any sense but even sense is sensless...
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  • #203,715
  • Oct 15, 2009 12:23pm Oct 15, 2009 12:23pm
Quoting Superscalper
how u r going to trade it......break out or pullbake? white the folowing trand line from up to down braking up

I will always play the pull back if going long

break outs are ok , but again I never buy the first breaks out . I always wait for some kind of pullback , even if only on 2 min chart.
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  • #203,716
  • Oct 15, 2009 12:31pm Oct 15, 2009 12:31pm
Quoting malcolmb14
I will always play the pull back if going long

break outs are ok , but again I never buy the first breaks out . I always wait for some kind of pullback , even if only on 2 min chart.

u do it white fib? on what levels do u play 38 50 61 78?
  • #203,717
  • Oct 15, 2009 12:33pm Oct 15, 2009 12:33pm
Quoting malcolmb14
I will always play the pull back if going long

break outs are ok , but again I never buy the first breaks out . I always wait for some kind of pullback , even if only on 2 min chart.
There is no seller at all coming in .. literally
  • #203,718
  • Oct 15, 2009 12:35pm Oct 15, 2009 12:35pm
Malcolm, do you think we will get 148 during the Asian session or a pull back before then?

Quoting malcolmb14
looking at daily


resis

148
150
153

fib reatrce major down move

148.63
151.37

and even 154 and we would still be in overall downtrend

154 sound odd but look at move overnight

and if my ES target right we should top 10500 dj / 1100 ES

there does not seem to be any sellers interested right now ... not even a 100 pip reatrce of a 400 pip move

Attachment
  • #203,719
  • Oct 15, 2009 12:38pm Oct 15, 2009 12:38pm
Treasury Currency Report

Waiting on report..

[
  • #203,720
  • Oct 15, 2009 12:41pm Oct 15, 2009 12:41pm
Quoting dreed
Malcolm, do you think we will get 148 during the Asian session or a pull back before then?

I think asia , last night we saw 90 pip rise after US closed . i do not see why today should be any different

may get to 149.50 during asia
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