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

  • #204,441
  • Oct 19, 2009 8:59am Oct 19, 2009 8:59am
Quoting quecee5
Ping pong trading is a sure way to lose money but I'll leave that to the many traders that enjoy that style.

Me I like to wait for the market to settle down and determine a direction and then follow the money wherever it goes for the short or long-term. . .

With this method patience is required and you don't have to sit in front of the tube all night with exhaustion. Not good to trade when sleep deprived anyway sure way to make mistakes, have mis-steps and give the market back all the gains acquired during your ping-pong trading.

As stated...
How beautifully you write your post..Quality mate pure quality...
Let Price determine your future!
  • #204,442
  • Edited 9:19am Oct 19, 2009 9:06am | Edited 9:19am
Here is a nugget for newbies. . .

1) Take a look at all time frames 1hr, 4hr, daily, weekly, monthly with a macd and tell me what u see???

2) also look at daily 5 sma and look back since 161 area and tell me what u see????

3) also put a 55 ema and a 100 sma on yr chart and tell me what u see????

answer. . . 1) I see 4hr diverging lower due to OB condition but 1hr looks supported along with daily, weekly and monthly which suggest a strong move up is forthcoming once we work off 4hr OB conditions. . .

answer. . . 2) as for daily 5 sma - we are trading above it comfortably and have not done so since 161-160 area so can we call this a break out and if 4hr macd is trending down could we be in the process of going back to test this support with perhaps a dip below to mpp (145.60) area to take out stops before we head up with maybe a new trend???

answer. . . 3) looking at daily 55 ema we can see that it confirms the OB level and is containing price at that resistance ATM as suggested by 4hr chart. . .

however once we get out of OB on the 4hr chart 1hr, 4hr, daily weekly and monthly macd will be aligned for a move up. . .

comments welcomed. . . gotta prepare for the move before it happens or at least anticipate it with the least amount of risk possible. . .

But be sure to prepare for both situations. . . long or short. . . me for now I see longs as long as we are above daily 5 sma and daily gann. . .

made a few corrections
  • #204,443
  • Oct 19, 2009 9:12am Oct 19, 2009 9:12am
where r us now? bull or bear ?
  • #204,444
  • Edited 9:39am Oct 19, 2009 9:15am | Edited 9:39am
Quoting Geppyg
How beautifully you write your post..Quality mate pure quality...
Thank u for the kind words bro. . . good luck in yr trading this week and just remember patience is your friend and it also preserves your capital to stay in this game when u see the right set-up. . .

Otherwise just watch the market because each move they make give you more insight to where price can go and what the market is thinking. . .

We must think like smart money because they are the market and each move is strategic from market makers to smart money. Both are here to make money and this market was not designed for the average trader so the more we think like them the better we are as traders. . .

  • #204,445
  • Oct 19, 2009 9:18am Oct 19, 2009 9:18am
Quoting quecee5
Ping pong trading is a sure way to lose money but I'll leave that to the many traders that enjoy that style.

Me I like to wait for the market to settle down and determine a direction and then follow the money wherever it goes for the short or long-term. . .

!

Access Dined ping pong what?


Currently Status is 2/1-5 Stars..

So The Trading philosophy is just Gaining % percentage is very low.. Lower then the Normal Trend Line...



Patience is Virtue.... In Forex...


And Second there are 20 Good Pair of Currency where We Aye can TRADE...


So Any Body Shouldn't To Love With ANY PAIR... strictly no...



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Foreign Currency Trading not Depend On Your Thought.. It Depend on His MOVE's...UP AND DOWN...........




The Trend Is your Friend.. But beware.. if you fail to follow your trend .. so it also take your Money in the bank...

Trend isn't with you always..



WHEN THE FACT CHANGE ...........

YOU SHOULD KNOW HOW TO CHANGE YOUR MIND ...

and follow the market..
DRAGON-TECHNICAL ANALYSIS!
  • #204,446
  • Oct 19, 2009 9:23am Oct 19, 2009 9:23am
HI. I think we can all read without glasses! Pls dont keep posting with these huge letters. Thanks
  • #204,447
  • Oct 19, 2009 9:33am Oct 19, 2009 9:33am
Do not put cap on your writing. It is annoying.
  • #204,448
  • Oct 19, 2009 9:33am Oct 19, 2009 9:33am
Quoting quecee5
Here is a nugget for newbies. . .

1) Take a look at all time frames 1hr, 4hr, daily, weekly, monthly with a macd and tell me what u see???

2) also look at daily 5 sma and look back since 161 area and tell me what u see????

3) also put a 55 ema and a 100 sma on yr chart and tell me what u see????

answer. . . 1) I see 4hr diverging lower due to OB condition but 1hr looks supported along with daily, weekly and monthly which suggest a strong move up is forthcoming once we work off 4hr OB conditions. . .

answer. . . 2) as for daily 5 sma -...

Bro, i cannot even give better clarification likethis, i cant say i dont know what chart look like but ur explanation make me speechless....thankx for the time...

okay i also use macd before and ur post made me check on macd histogram..4hrs macd support retrace back to 145-144 ?
MY OPINION NOT FINANCIAL ADVISE
  • #204,449
  • Oct 19, 2009 9:35am Oct 19, 2009 9:35am
Quoting vincy balboa
Access Dined ping pong what?


Currently Status is 2/1-5 Stars..

So The Trading philosophy is just Gaining % percentage is very low.. Lower then the Normal Trend Line...



Patience is Virtue.... In Forex...

Very good comments. . .

However it is best to try to learn the characteristic of one pair 1st before you venture off with other pairs because they don't trade the same.

It takes a lot of time to learn the behavior of a pair and what applies to one pair does not always apply to another pair. . .

So focusing on one pair and finding correlation to that pair to monitor is always a helpful when trading your pair of choice. . .

Like GJ for instance which is correlated to usd/gu/jpy. . . If you at least know whats going on there it will help you to understand why the pair is stuck in a range or why it is blasting off or selling off so rapidly. . .

at least have a general idea what the market is doing and how it correlates to the pairs movement. Once you have studied it - it will come natural to u when you see its movement or a lack thereof. . .

But one should always prepare for both situations - that is what we call risk and is what we want to minimize as much as possible. . .

A good trader focuses on risk not profits. . . The question should be "how much am i willing to risk if I'm wrong and how can I minimize it as much as possible. . .????

Also, a good trader knows when to cut losses if his TA is wrong - it should be built in your trade prior to hitting the buy or sell button. ..

Lastly, a good trader has a road map/plan for his trade prior to hitting the buy or sell button. . . He or she should know the entry and why and take profit and know why and at least know how to take profit within the move minimizing risk as he or she reaches his or her planned target. . .

But im not telling anyone here nothing that they don't already know but speaking it and doing it is very hard to do when caught up in the moment when emotions are running wild. . .

Again good luck to all in your trading this week. . .
  • #204,450
  • Oct 19, 2009 9:43am Oct 19, 2009 9:43am
we're gonna fly..
  • #204,451
  • Oct 19, 2009 9:44am Oct 19, 2009 9:44am
Quoting donfriday
Bro, i cannot even give better clarification likethis, i cant say i dont know what chart look like but ur explanation make me speechless....thankx for the time...

okay i also use macd before and ur post made me check on macd histogram..4hrs macd support retrace back to 145-144 ?
Thank you for the kind words. . .
  • #204,452
  • Oct 19, 2009 9:48am Oct 19, 2009 9:48am
Quoting A-speculator
we're gonna fly..
Only if we get a daily close above last weeks high. . . Then resistance will become support. . .

And that is very possible. . .

But so far the 4hr chart doesn't suggest that! But only time will tell and if we do break thru resistance and wait for support to be tested then we have a good entry point for short-term longs wouldn't you say???
  • #204,453
  • Oct 19, 2009 9:52am Oct 19, 2009 9:52am
Quoting quecee5
Only if we get a daily close above last weeks high. . . Then resistance will become support. . .

And that is very possible. . .

But so far the 4hr chart doesn't suggest that! But only time will tell and if we do break thru resistance and wait for support to be tested then we have a good entry point for short-term longs wouldn't you say???

what about the weekly Gj bullish divergence?
MY OPINION NOT FINANCIAL ADVISE
  • #204,454
  • Oct 19, 2009 9:52am Oct 19, 2009 9:52am
nice nap. woke up to plusss side on gbpusd, audusd..waiting foe gpyjpy.
  • #204,455
  • Oct 19, 2009 9:52am Oct 19, 2009 9:52am
Quoting quecee5
Only if we get a daily close above last weeks high. . . Then resistance will become support. . .

And that is very possible. . .

But so far the 4hr chart doesn't suggest that! But only time will tell and if we do break thru resistance and wait for support to be tested then we have a good entry point for short-term longs wouldn't you say???
Ok, my assumption is based on the PA of GU & UJ. Currently UJ is testing back its F38 and GU already challenge its last high. I think up movement is highly possible..
  • #204,456
  • Oct 19, 2009 9:56am Oct 19, 2009 9:56am
nice posts as always sir.

That advanced GET software picked up wave 4 wending 147,33 and wave 5 ..152.50 or 155 , based on wave 3 length we see 155

ES is on fire ...fx boring today traded it instead..still have long gj from 147 target 152.50 as mentioned in London


Quoting quecee5
Here is a nugget for newbies. . .

1) Take a look at all time frames 1hr, 4hr, daily, weekly, monthly with a macd and tell me what u see???

2) also look at daily 5 sma and look back since 161 area and tell me what u see????

3) also put a 55 ema and a 100 sma on yr chart and tell me what u see????

answer. . . 1) I see 4hr diverging lower due to OB condition but 1hr looks supported along with daily, weekly and monthly which suggest a strong move up is forthcoming once we work off 4hr OB conditions. . .

answer. . . 2) as for daily 5 sma -...
Blogging daily now at www.volume.zone
  • #204,457
  • Oct 19, 2009 9:58am Oct 19, 2009 9:58am
Quoting donfriday
what about the weekly Gj bullish divergence?

It will play bro but we have not had a pull back after literally 900 pips
  • #204,458
  • Oct 19, 2009 9:59am Oct 19, 2009 9:59am
Quoting kingrex
nice nap. woke up to plusss side on gbpusd, audusd..waiting foe gpyjpy.
good job bro.. Well as for me I have taken out my long on GU @ 1.6360 right at the last high, well.. I guess I have to find another entry for GU, wouldn't know it would break this fast.. anyway, congrats man..
  • #204,459
  • Oct 19, 2009 9:59am Oct 19, 2009 9:59am
Quoting manz66
Do not put cap on your writing. It is annoying.
that guy is annoying ...full stop ...

he is so full of telling us all what to do and what not to do . I started trading when he was still 12
Blogging daily now at www.volume.zone
  • #204,460
  • Oct 19, 2009 10:01am Oct 19, 2009 10:01am
Quoting malcolmb14
that guy is annoying ...full stop ...

he is so full of telling us all what to do and what not to do . I started trading when he was still 12
maybe he wanted to be a guru just like you... LOL
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