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

  • #206,581
  • Edited 2:10pm Nov 2, 2009 1:54pm | Edited 2:10pm
Looking into today's PA, I'm not sure of being bearish anymore.. Looking into 4h CS formation for GJ, GU & UJ.. I don't think that is the bearish continuation formation. Anyway, I think I'll stay sideline atm and only trade EU, AU & UJ as I think it is more clearer than GJ & GU.. However, I am slightly bullish on both GJ and GU but I will only trade it when clearer PA is sighted..
  • #206,582
  • Nov 2, 2009 2:14pm Nov 2, 2009 2:14pm
Quoting A-speculator
Looking into today's PA, I'm not sure of being bearish anymore.. Looking into 4h CS formation for GJ, GU & UJ.. I don't think that is the bearish continuous formation. Anyway, I think I'll stay sideline atm and only trade EU, AU & UJ as I think it is more clearer than GJ & GU.. However, I am slightly bullish on both GJ and GU but I will only trade it when clearer PA is sighted..

very odd price action for sure ...dip in asia then double test 148,50 , daily looks like it may not close above daily close of Friday

as you say better to wait for break out or trade range ....
Blogging daily now at www.volume.zone
  • #206,583
  • Nov 2, 2009 2:15pm Nov 2, 2009 2:15pm
[quote=MykeFX;3200491]
Quoting ewokuk

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....
that is what I said. If the pros want higher prices they will push price thru resistance quickly .... then if you miss the initial breakout wait for re-test with low volume ...
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  • #206,584
  • Nov 2, 2009 2:24pm Nov 2, 2009 2:24pm
Quoting malcolmb14
very odd price action for sure ...dip in asia then double test 148,50 , daily looks like it may not close above daily close of Friday

as you say better to wait for break out or trade range ....
The thing that bothers me is that we had a significant amount of rejection during the 146 testing and further rejection @ 147 ( which is the UTL of previous triangle ) which reminds me of the last 140 size able rejection. It's odd to have that significant amount of rejection if price want to go down.. definitely something is going on in the background.. I don't want to over think and try to find the reasons for that. Until clear direction is sighted, I will stay sideline..
  • #206,585
  • Nov 2, 2009 2:31pm Nov 2, 2009 2:31pm
Quoting malcolmb14
very odd price action for sure ...dip in asia then double test 148,50 , daily looks like it may not close above daily close of Friday

as you say better to wait for break out or trade range ....
Very difficult to trade indeed, lost 30 some pips went short GY last nite
, made a few pips with GU. Now, am puzzled with what pair to trade. Seems all are ranging in a small range
Trade Gold maybe easier .. hehe
  • #206,586
  • Nov 2, 2009 2:44pm Nov 2, 2009 2:44pm
Quoting mktjong
Very difficult to trade indeed, lost 30 some pips went short GY last nite
, made a few pips with GU. Now, am puzzled with what pair to trade. Seems all are ranging in a small range
Trade Gold maybe easier .. hehe

ES is fairly easy and drving everything in US ( well not ES but indexes)
Blogging daily now at www.volume.zone
  • #206,587
  • Nov 2, 2009 3:22pm Nov 2, 2009 3:22pm
This one does not meet my normal criteria...thats why I'm shrinking the profit target to below the FE 61.8

I think this has to come up a little more before rejecting down.

I'm only doing 1.00 pips on this because i'm so un-sure.


We'll see...
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  • #206,588
  • Edited 6:12pm Nov 2, 2009 4:33pm | Edited 6:12pm
Overall the Trend is still bearish on the daily chart.

If the rally breaks the WPP, than 150.80-151.00 may be some resistance since it is the daily TL zone.

Trade your charts.



Asia Bank Holiday and IMHO AUD may reversal the strengthen of the USD at 10:30pm tonight RBA Rate Statement
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  • #206,589
  • Nov 2, 2009 4:34pm Nov 2, 2009 4:34pm
Quoting rgitt05
Overall the Trend is still bearish on the daily chart.

If the rally breaks the DPP, than 150.80-151.00 may be some resistance since it is the daily TL zone.

Trade your charts.

um. its above DPP already. DPP moved to 147.90 about 34mins ago
  • #206,590
  • Nov 2, 2009 5:17pm Nov 2, 2009 5:17pm
Oops..I meant WPP(weekly Pivot point) 149

Thanks



Quoting ewokuk
um. its above DPP already. DPP moved to 147.90 about 34mins ago
[
  • #206,591
  • Nov 2, 2009 5:59pm Nov 2, 2009 5:59pm
wonderful, a 15 pip range

note: nobody in Australia gives a shit about the market today. Melbourne Cup day takes all the money away
  • #206,592
  • Nov 2, 2009 6:06pm Nov 2, 2009 6:06pm
Quoting Eulogy
wonderful, a 15 pip range

note: nobody in Australia gives a shit about the market today. Melbourne Cup day takes all the money away
Mate while nobody is looking gold (thus USD/CAD also) and eur/gbp are moving. A/U would be moving on the back of gold if it wasn't for the RBA announcement + Melbourne cup to come. Some talk on the wire of investment firms buying E/J is also giving U/J a little kick in the pants (considering Tokyo is on holidays, plenty of kick).
  • #206,593
  • Nov 2, 2009 6:30pm Nov 2, 2009 6:30pm
Quoting pilotui
This one does not meet my normal criteria...thats why I'm shrinking the profit target to below the FE 61.8

I think this has to come up a little more before rejecting down.

I'm only doing 1.00 pips on this because i'm so un-sure.


We'll see...

It's coming up slowly...very slowly.

SL is now @ BE
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  • #206,594
  • Nov 2, 2009 6:37pm Nov 2, 2009 6:37pm
Quoting sinner-
Mate while nobody is looking gold (thus USD/CAD also) and eur/gbp are moving. A/U would be moving on the back of gold if it wasn't for the RBA announcement + Melbourne cup to come. Some talk on the wire of investment firms buying E/J is also giving U/J a little kick in the pants (considering Tokyo is on holidays, plenty of kick).
meh, kick or no kick, its still locked in a pretty tame range atm.

no fair, melbourne cup day is not a holiday here in Sydney. at least the office is feeding us today. Go Roman Emperor LOL
  • #206,595
  • Nov 2, 2009 6:45pm Nov 2, 2009 6:45pm
Quoting Eulogy
meh, kick or no kick, its still locked in a pretty tame range atm.

no fair, melbourne cup day is not a holiday here in Sydney. at least the office is feeding us today. Go Roman Emperor LOL
Guess I spoke too soon about U/J because it isn't really budging now.

Hey it's a holiday here for private sector but I don't get the day off work in the public sector
  • #206,596
  • Nov 2, 2009 7:12pm Nov 2, 2009 7:12pm
Quoting pilotui
It's coming up slowly...very slowly.

SL is now @ BE
Man this thing is chop right now!
  • #206,597
  • Nov 2, 2009 7:13pm Nov 2, 2009 7:13pm
Quoting pilotui
Man this thing is chop right now!

last 24 hours gj is easy sell off 148.50 .... cannot go wrong
Blogging daily now at www.volume.zone
  • #206,598
  • Nov 2, 2009 8:29pm Nov 2, 2009 8:29pm
Hey malc,

U/J is looking like a mark down to shake out weak longs, can you concur?
  • #206,599
  • Nov 2, 2009 8:39pm Nov 2, 2009 8:39pm
I don't have eSignal volume, but I use FxPro, because you said it is reliable for lower TF's...when this morning the up move happened, I checked the 5min chart and the initial move had happened on NO volume....then after that there was a high volume (the highest so far even if you look right now) at it got sold into....I thought this move should be some sort of mark up...But your analysis SHOULD BE MUCH MORE ACCURATE , SINCE YOU HAVE ESIGNAL....

I just wanna know has my likne of thought been correct Mal.
  • #206,600
  • Nov 2, 2009 8:44pm Nov 2, 2009 8:44pm
Quoting Fusion
I don't have eSignal volume, but I use FxPro, because you said it is reliable for lower TF's...when this morning the up move happened, I checked the 5min chart and the initial move had happened on NO volume....then after that there was a high volume (the highest so far even if you look right now) at it got sold into....I thought this move should be some sort of mark up...But your analysis SHOULD BE MUCH MORE ACCURATE , SINCE YOU HAVE ESIGNAL....

I just wanna know has my likne of thought been correct Mal.
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