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

  • #206,561
  • Nov 2, 2009 11:56am Nov 2, 2009 11:56am
More news? ES is tanking...
  • #206,562
  • Nov 2, 2009 11:59am Nov 2, 2009 11:59am
Quoting gillybabe
Malcolm, when you talk about lower and higher value areas for say Friday being 149.10, where do you get this figure from - is it just the high and low for the day or more complicated than that. If it is an indi, could you share it pls?
is is a value area indicator, Mine is for esignal . I think there isone for ninja trader out there and mt4( can be fed with fx feed I think)....it is 70 % ile of the volume for the day.

If price remains under the lower value area of the prior day it means that pros are not willing to buy prices above 149.20 in this case as they do not think it is value. I have a rule that if prices are under the lwer value area of the prior day I look for sell set ups only unless prices goes into lower value area of prior day and stays there for more than 30 min ( this could indicate a reversal day).

On a 30 min chart we seem to be getting sold on all rallies into 148.50 zone
Blogging daily now at www.volume.zone
  • #206,563
  • Nov 2, 2009 12:00pm Nov 2, 2009 12:00pm
Quoting $teve
Play money doesn't count. Where do you think this baby is going? I'd say 147 again in Asia. Looks like it hit the hourly ema 50 and bounced.

check out 30 min

high volume up bar into 148.50 ( same area I mentioned there were sellers off in asia yesterday) I think we see 147 test and maybe break

I am selling all rallies just due to being bearish on indexes and daily gj

Attached Image (click to enlarge)
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  • #206,564
  • Nov 2, 2009 12:04pm Nov 2, 2009 12:04pm
Thanks - I will investigate this a bit more. Did Godfrey ever do one of these, do you know?
  • #206,565
  • Nov 2, 2009 12:10pm Nov 2, 2009 12:10pm
Quoting gillybabe
Thanks - I will investigate this a bit more. Did Godfrey ever do one of these, do you know?
I have seen one floating around

if it helps I will post one at start of us session each morning at 5 am pst
Blogging daily now at www.volume.zone
  • #206,566
  • Nov 2, 2009 12:11pm Nov 2, 2009 12:11pm
there is the marketprofile thing floating about but it doesnt show value areas just POC
  • #206,567
  • Nov 2, 2009 12:14pm Nov 2, 2009 12:14pm
Quoting malcolmb14
I have seen one floating around

if it helps I will post one at start of us session each morning at 5 am pst
thanks for your help with eur/gbr it was really helpfull!!!
  • #206,568
  • Nov 2, 2009 12:14pm Nov 2, 2009 12:14pm
Quoting malcolmb14
I have seen one floating around

if it helps I will post one at start of us session each morning at 5 am pst
Thanks that would be great!
  • #206,569
  • Nov 2, 2009 12:43pm Nov 2, 2009 12:43pm
[quote=malcolmb14;3200221]check out 30 min

high volume up bar into 148.50 ( same area I mentioned there were sellers off in asia yesterday) I think we see 147 test and maybe break

I am selling all rallies just due to being bearish on indexes and daily gj

Attachment [/QUOT

this is the thing with VSA I can't figure out - why does a high volume up-bar mean market is bearish. We are all taught that movements on high volume are more meaningful in the direction of movement.
TRADE FOR SWAP
  • #206,570
  • Nov 2, 2009 12:50pm Nov 2, 2009 12:50pm
Quoting nazik
thanks for your help with eur/gbr it was really helpfull!!!
lol .. thanks for the sarcasm ...did not see your post

touched 4.8 mml on 4 hour we seem to be getting a reversal set up , although I do not know this pair.

we are in down channel IF 0.9033 holds you can expect to see test bottom of channel 8789. But as i said i do not know how this pair moves

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  • #206,571
  • Nov 2, 2009 12:52pm Nov 2, 2009 12:52pm
[quote=cgldsmth;3200341]
Quoting malcolmb14
check out 30 min

high volume up bar into 148.50 ( same area I mentioned there were sellers off in asia yesterday) I think we see 147 test and maybe break

I am selling all rallies just due to being bearish on indexes and daily gj

Attachment [/QUOT

this is the thing with VSA I can't figure out - why does a high volume up-bar mean market is bearish. We are all taught that movements on high volume are more meaningful in the direction of movement.
Look at the following bars on 60 min also... , lower highs decreasing volume. The high volume up bar has a long wick on top also showing sellers on 60 min.

my .02$.
  • #206,572
  • Nov 2, 2009 12:57pm Nov 2, 2009 12:57pm
completely wrong ..... ultra high volume up bars close to old resistance that do not break out are not pros buying , it is pros selling heavily. Pros will buy at support not buy at resistance.

If it is the intent of the pros to move money higher they will move price rapidly through resistance.

Pros will sell into good news and buy into weakness. That is exactly what happened today .

If you see really high volume close to ressitance on news then often it is time to sell ..... not buy ... that is where most retial traders get it wrong. They think that all of the volume is buying

It is very hard to get your mind around this concept but once you do .... the trading gets easier

here is aud with an example

Attached Image (click to enlarge)
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[quote=cgldsmth;3200341]
Quoting malcolmb14
check out 30 min

high volume up bar into 148.50 ( same area I mentioned there were sellers off in asia yesterday) I think we see 147 test and maybe break

I am selling all rallies just due to being bearish on indexes and daily gj

Attachment [/QUOT

this is the thing with VSA I can't figure out - why does a high volume up-bar mean market is bearish. We are all taught that movements on high volume are more meaningful in the direction of movement.
Blogging daily now at www.volume.zone
  • #206,573
  • Nov 2, 2009 1:01pm Nov 2, 2009 1:01pm
yep, excellent thanks.

so the high volume bull spike on GJ today followed by down candles is bearish.
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  • #206,574
  • Nov 2, 2009 1:05pm Nov 2, 2009 1:05pm
open buy with target 148.00 think its going to touch it in next few hours
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  • #206,575
  • Nov 2, 2009 1:15pm Nov 2, 2009 1:15pm
Quoting TrendExpress
open buy with target 148.00 think its going to touch it in next few hours
this may work for you we seem to be basing on 61.8 of up move

es has bull div rsx , and double bottom and may reatrce some into close

I am still selling rallies both es and gj though ... that is just me

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  • #206,576
  • Nov 2, 2009 1:16pm Nov 2, 2009 1:16pm
Quoting malcolmb14
lol .. thanks for the sarcasm ...did not see your post

touched 4.8 mml on 4 hour we seem to be getting a reversal set up , although I do not know this pair.

we are in down channel IF 0.9033 holds you can expect to see test bottom of channel 8789. But as i said i do not know how this pair moves

Attachment
Thnks,im stuck on it.i cant understand how it moves on hour chat it goes up on 15,and 30 look like down,but anyway thnks.Good trading to you.
  • #206,577
  • Nov 2, 2009 1:27pm Nov 2, 2009 1:27pm
[quote=malcolmb14;3200382]completely wrong ..... ultra high volume up bars close to old resistance that do not break out are not pros buying , it is pros selling heavily. Pros will buy at support not buy at resistance.

Attachment

if high vol up bars are weakness, and low vol up bars are weakness, then all up bars are weak?. what is strength?
  • #206,578
  • Nov 2, 2009 1:28pm Nov 2, 2009 1:28pm
Quoting malcolmb14
this may work for you we seem to be basing on 61.8 of up move

es has bull div rsx , and double bottom and may reatrce some into close

I am still selling rallies both es and gj though ... that is just me

Attachment
workd allready but thanks for trustin , think of makin few positions later with target 148 think this will be main touch area for tinight
  • #206,579
  • Nov 2, 2009 1:30pm Nov 2, 2009 1:30pm
Quoting nazik
Thnks,im stuck on it.i cant understand how it moves on hour chat it goes up on 15,and 30 look like down,but anyway thnks.Good trading to you.
I decide to go short till 0.8980
  • #206,580
  • Nov 2, 2009 1:47pm Nov 2, 2009 1:47pm
[quote=ewokuk;3200446]
Quoting malcolmb14
completely wrong ..... ultra high volume up bars close to old resistance that do not break out are not pros buying , it is pros selling heavily. Pros will buy at support not buy at resistance.

Attachment

if high vol up bars are weakness, and low vol up bars are weakness, then all up bars are weak?. what is strength?
I would say if the up bar breaks thru resistance and the next bar is also high volume and is an up bar also, that would be strength coming in. If the high volume up bar doesn't break thru, chances are the volume is mostly sellers at that R level. or weakness at that level.

Course I am still learning this stuff... could be wrong....
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