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

  • #203,721
  • Oct 15, 2009 2:42pm Oct 15, 2009 2:42pm
Quoting malcolmb14
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
i do, yesterday we didnt have a 450 pip up move

surely they wont buy here, wouldnt they want to shove it back down a bit first. going up is probably inevitable or london and NY would have taken some profits instead of none at all, so pretty obvious its going up more. but im still not entering unless it gets to 146.35. knowing my luck if i enter now i will wake up to find its been to 146.35
  • #203,722
  • Oct 15, 2009 2:47pm Oct 15, 2009 2:47pm
Quoting ewokuk
i do, yesterday we didnt have a 450 pip up move

surely they wont buy here, wouldnt they want to shove it back down a bit first
I think the only pullback will be because of profit taking.. I think they will carry this trade as we just took off from the lows.. but that just my assumption.
  • #203,723
  • Oct 15, 2009 2:53pm Oct 15, 2009 2:53pm
resting euro shorts 5038 for the acquiring mode
"Millionaires don't use astrology, billionaires do"
  • #203,724
  • Oct 15, 2009 2:53pm Oct 15, 2009 2:53pm
WASHINGTON, Oct 15 (Reuters) - A U.S. Treasury Department report examining whether key trade partners like China unfairly manipulate their currencies' values was due on Thursday, though the Treasury wouldn't confirm it will be released.
The semiannual report to Congress is due on April 15 and Oct. 15. It was released on its due date in April after U.S. financial markets had concluded trading for the day.



http://www.reuters.com/article/gover...29802420091015
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  • #203,725
  • Oct 15, 2009 2:58pm Oct 15, 2009 2:58pm
Quoting ewokuk
i do, yesterday we didnt have a 450 pip up move

surely they wont buy here, wouldnt they want to shove it back down a bit first. going up is probably inevitable or london and NY would have taken some profits instead of none at all, so pretty obvious its going up more. but im still not entering unless it gets to 146.35. knowing my luck if i enter now i will wake up to find its been to 146.35

I have seen all kinds of things in asia ...

you are right to not buy here...even if this thing breaks to upside you have missed one move , but all you have to do is wait till next one ,

take today for example .. you are a day trader , you miss all of move in London , but waiting for right set up there have been one move 130 pip ando ne move up 100 pip , both in US session

the beauty of the market is that as long as there is volaitlity there are trades EVERY day

if unsure leave it for weekend , come back on Monday with fresh mind and let them do their bs ....
Blogging daily now at www.volume.zone
  • #203,726
  • Oct 15, 2009 3:04pm Oct 15, 2009 3:04pm
Quoting malcolmb14
I have seen all kinds of things in asia ...

you are right to not buy here...even if this thing breaks to upside you have missed one move , but all you have to do is wait till next one ,

take today for example .. you are a day trader , you miss all of move in London , but waiting for right set up there have been one move 130 pip ando ne move up 100 pip , both in US session

the beauty of the market is that as long as there is volaitlity there are trades EVERY day

if unsure leave it for weekend , come back on Monday with fresh mind...
Hey Malcomb, if you get the chance, can you mark up a 1 hour chart of geppy noting when buyers came in
"Don't trade to trade . . . trade to win." - James16
  • #203,727
  • Oct 15, 2009 3:08pm Oct 15, 2009 3:08pm
Quoting Flem26
Hey Malcomb, if you get the chance, can you mark up a 1 hour chart of geppy noting when buyers came in

go back to 1 hr charts at 141 .... you will see the buyers clearly

this is when i said 146.3 .... others calling 140 , and lower

vsa very easy when you see the set ups ,,, this move was a surprise it got there so fast ...but not a surprise we got there
Blogging daily now at www.volume.zone
  • #203,728
  • Oct 15, 2009 3:10pm Oct 15, 2009 3:10pm
I think your frustration with the market is not only understandable, but its something most traders have experience before or will experience if they have not already.... It takes patience, discipline, and proper money management, and these skills are not mastered over night. It comes with time... Waiting, and Waiting for the right set up can be boring, but it can be profitable as well. Bottom line dude, don't give up, don't give in, stick in there. Also you can learn valuable things from people here.. Malcolm, Karmo, etc. etc.. All these guys experiences can assist you on your journey... Hang in there!

Quoting ewokuk
i do, yesterday we didnt have a 450 pip up move

surely they wont buy here, wouldnt they want to shove it back down a bit first. going up is probably inevitable or london and NY would have taken some profits instead of none at all, so pretty obvious its going up more. but im still not entering unless it gets to 146.35. knowing my luck if i enter now i will wake up to find its been to 146.35
  • #203,729
  • Oct 15, 2009 3:11pm Oct 15, 2009 3:11pm
Quoting malcolmb14
go back to 1 hr charts at 141 .... you will see the buyers clearly

this is when i said 146.3 .... others calling 140 , and lower

vsa very easy when you see the set ups ,,, this move was a surprise it got there so fast ...but not a surprise we got there
okay, i think i see. buyers came in off of the low of 139.68 knocked price sideways until it finally broke the consolidation. thanks
"Don't trade to trade . . . trade to win." - James16
  • #203,730
  • Oct 15, 2009 3:20pm Oct 15, 2009 3:20pm
Quoting dreed
I think your frustration with the market is not only understandable, but its something most traders have experience before or will experience if they have not already.... It takes patience, discipline, and proper money management, and these skills are not mastered over night....
yeh well i thought i was learning a lot from those guys but im still not doing any better. if i dont string some good trades together i wont have any choice, all my money is gone.
  • #203,731
  • Oct 15, 2009 3:20pm Oct 15, 2009 3:20pm
Quoting Flem26
okay, i think i see. buyers came in off of the low of 139.68 knocked price sideways until it finally broke the consolidation. thanks

here is 4 hr update of chart o showed last few days showing this move play out

Attached Image (click to enlarge)
Click to Enlarge Name: chart04.gif Size: 16 KB
Blogging daily now at www.volume.zone
  • #203,732
  • Oct 15, 2009 3:25pm Oct 15, 2009 3:25pm
Quoting Flem26
okay, i think i see. buyers came in off of the low of 139.68 knocked price sideways until it finally broke the consolidation. thanks
Well mate, besides VSA you have to aware of price pattern/movement. Note the higher high, higher low in 1hr.. Hope that helps..
  • #203,733
  • Oct 15, 2009 3:34pm Oct 15, 2009 3:34pm
Quoting malcolmb14
here is 4 hr update of chart o showed last few days showing this move play out

Attachment
this confusing. where it says buyers on weakness i cant see weakness, all i can see is a huge pin bar on the bar before it with decent volume, which would have been a short to me
  • #203,734
  • Oct 15, 2009 3:34pm Oct 15, 2009 3:34pm
Does anyone have for Metatrader an indicator simular to the RSX(2) volume indicator that Malcolm has listed on his charts?

Quoting malcolmb14
here is 4 hr update of chart o showed last few days showing this move play out

Attachment
  • #203,735
  • Oct 15, 2009 3:35pm Oct 15, 2009 3:35pm
Quoting A-speculator
Well mate, besides VSA you have to aware of price pattern/movement. Note the higher high, higher low in 1hr.. Hope that helps..
Thanks guys.

Been tied up with other things and still trying to get back in the swing.
"Don't trade to trade . . . trade to win." - James16
  • #203,736
  • Oct 15, 2009 3:41pm Oct 15, 2009 3:41pm
1h i see a huge volume spike right at the top of this move and afterwards all it did was flop down a bit. volume looks about 20% higher than any other bar on the chart and higher than any 1h bar since 25th sept. bar was smaller than the up bar 3 bars before it but volume 20% more and its failed to make much progress since. is this sellers or what?
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 38 KB
  • #203,737
  • Oct 15, 2009 3:46pm Oct 15, 2009 3:46pm
Quoting ewokuk
this confusing. where it says buyers on weakness i cant see weakness, all i can see is a huge pin bar on the bar before it with decent volume, which would have been a short to me
That would be true if we have next candle closed below its low. If not, the shooting star is considered invalid..
  • #203,738
  • Oct 15, 2009 3:46pm Oct 15, 2009 3:46pm
Quoting ewokuk
yeh well i thought i was learning a lot from those guys but im still not doing any better. if i dont string some good trades together i wont have any choice, all my money is gone.


There is much to learn and i have sympathy for you, Not because u are losing because your loss is my gain, just like my losses are someone elses gain.
THE VERY BIGGEST KEY to trading is this, you arent gonna make a million overnight, and if you try, you are overleveraging, and will blow up. Been there many times. Position sizing for your risk tolerance is the KEY.
Not sure your account but you should be able to handle a cpl point drawdown per position you place and still leave you ability to trade anywhere from 5-10 more times before coffers are empty.

Second day trading is for fools if you are inexperienced, too much volatility and if you cannot recognize what the hell they are doing YOU LOSE period.
Trends come to an end, They arent always your friend.

It takes time for a trade to work, i waited 2 weeks for geppy when i first bought held cashed some in but held bought more but held and held and held WHAMMMMMMOOOOOO payday for alot of it, now i wait and wait and wait for new opp to buy again and again and agian because i believe we are heading to 172++++ so i wait nopayday after last payday collected and i will wait and wait and wait then WHAAAAMMMMMMMMMMMOOOOOOOOOO big payday

The last part maybe we havent got to this point yet BUT if we do and i am right i am already on the basement floor with a pyramid above me

If you cannot wait for a win you will lose UNLESS you become a very good day trader..... Daytrading is swimming with the sharks just so you know!!!!!!!
"Millionaires don't use astrology, billionaires do"
  • #203,739
  • Oct 15, 2009 4:08pm Oct 15, 2009 4:08pm
RSI on 4h right now is at its highest level since 3rd august, few days before we hit the 163 high.

pullback will come i think. 146.30 minimum. maybe even 145. cant go short to ride it down there, too risky.

it might even spend the whole time between now and end of tomorrow making its way slowly down there, its friday, they will take profits before weekend, and maybe before TIC data too.
  • #203,740
  • Oct 15, 2009 4:08pm Oct 15, 2009 4:08pm
down by the sea side.

amen watching the fishermen.

Thats all true.
Timing is everything
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