And looks something like this..very strong sell around this area..
Attached Image (click to enlarge)
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #212,663
- Jan 22, 2010 3:22am Jan 22, 2010 3:22am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!
- #212,664
- Jan 22, 2010 3:26am Jan 22, 2010 3:26am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
PA is to Buy DIPS ATM..... divergence on 1 HR and 15M is Bullish...IMO... With 4 HR..hammer at the Bottom.
- #212,665
- Jan 22, 2010 3:28am Jan 22, 2010 3:28am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
hammer signal for long. But major is Short...confuse zzzzzz
Today is a Scalping Day....and Buying Dips...ATM...until 148...imo..
Markets are not Random, they are designed!
- #212,666
- Jan 22, 2010 3:35am Jan 22, 2010 3:35am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
Depends on your style of trading...short term...Scalp or swing...
Today is a Scalping Day....and Buying Dips...ATM...until 148...imo..
- #212,667
- Jan 22, 2010 3:42am Jan 22, 2010 3:42am
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #212,668
- Jan 22, 2010 3:43am Jan 22, 2010 3:43am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
- #212,669
- Jan 22, 2010 3:45am Jan 22, 2010 3:45am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
You're right really depends on the style trading, I been try of method of hedge and lock pips. Is really hard to handle and manage it...But still prefer old style. 1 way ticket will be more worth to trade
If you prefer to trade intra day...scalp...
From three sessions.. set your target to get 30 - 50 pips..so 3 times 30 pips is 90 pips...thats enough to make a living...Patience is required for this...entry has to be precise..
Whether you are trading mini or standard lot.. 90 pips a Day ...you do the Math how much in a Month...
Hope this helps..
Yesterdays Shakeout was designed( OBAMA) TO drop the Market....So they can get a Bargain Price to take it Higher...I would not be surprised if they take this to 152 now..
There were Plenty of Buy Orders..at the Break out Point..149... Now most of the Stops have been Cleared...and Confusion in the Markets...There is PHYSCOLOGY in Play...
So lets see what BS they come up with when they take this Higher....lol...
Markets are not Random, they are designed!
- #212,670
- Jan 22, 2010 3:50am Jan 22, 2010 3:50am
it will go down to 146.10 ,then up again to 147.50/80... a long entry at 146.10 for scallpers,or a 2nd chance for the bears to exit and re enter at 147.50/80..
ai 5 pips short for a scalping long at 146.15.. might get down to 146.10,dont looks like it..
- #212,671
- Jan 22, 2010 3:52am Jan 22, 2010 3:52am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
Here is a Suggestion...
If you prefer to trade intra day...scalp...
From three sessions.. set your target to get 30 - 50 pips..so 3 times 30 pips is 90 pips...thats enough to make a living...Patience is required for this...entry has to be precise..
Whether you are trading mini or standard lot.. 90 pips a Day ...you do the Math how much in a Month...
Hope this helps..
- #212,672
- Jan 22, 2010 4:36am Jan 22, 2010 4:36am
- Joined Dec 2008 | Status: Trader | 2,753 Posts
Still a bit confused by GY right now, so I thought i'd share what I see right now.
146.15 represents an important action area. Some bull/bear PA has already fought over this area and it also sits conveniently at the 38% fibo from the 118.7-163 move.
The 50% fibo from the same move has been tested 2 times now and a third test could prove decisive I think.
Chart 1.
We're currently near the top of a large downward channel, (or bull flag) and need to break 150 to have the chance of significant upside beyond that.
Chart 2.
Coming closer to the PA, the 1hr TF has some bearish divergence which hasn't played out yet.
Chart 3.
Any thoughts..?
146.15 represents an important action area. Some bull/bear PA has already fought over this area and it also sits conveniently at the 38% fibo from the 118.7-163 move.
The 50% fibo from the same move has been tested 2 times now and a third test could prove decisive I think.
Chart 1.
We're currently near the top of a large downward channel, (or bull flag) and need to break 150 to have the chance of significant upside beyond that.
Chart 2.
Coming closer to the PA, the 1hr TF has some bearish divergence which hasn't played out yet.
Chart 3.
Any thoughts..?
- #212,673
- Jan 22, 2010 5:18am Jan 22, 2010 5:18am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!
- #212,674
- Jan 22, 2010 5:25am Jan 22, 2010 5:25am
- | Joined Sep 2009 | Status: Freshman Fledgling Neophyte | 1,663 Posts
- #212,675
- Edited 5:39am Jan 22, 2010 5:25am | Edited 5:39am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
GJ's chart looks quite clear to me. . .
We will see a test of weekly gann sooner rather than later as stated earlier this week. . .
The daily bearish chart has been activated and further down side will be seen into next week. I see a test of 143.50 and a possible a spike to 142.50 before we see a nice bounce up to 156 and yes I said 156 1st stop. . .
Best way to trade is to look for set-up and try to anticipate the move before hit happens. . . 11 days of consolidation and a drop on the 12th day priceless!
Simple daily chart 4 u
blue = daily gann = 8 closing days below it as been stating for the last week
green = 55 ema bro support and a close below it activates further down side
We will see a test of weekly gann sooner rather than later as stated earlier this week. . .
The daily bearish chart has been activated and further down side will be seen into next week. I see a test of 143.50 and a possible a spike to 142.50 before we see a nice bounce up to 156 and yes I said 156 1st stop. . .
Best way to trade is to look for set-up and try to anticipate the move before hit happens. . . 11 days of consolidation and a drop on the 12th day priceless!
Simple daily chart 4 u
blue = daily gann = 8 closing days below it as been stating for the last week
green = 55 ema bro support and a close below it activates further down side
- #212,676
- Jan 22, 2010 5:27am Jan 22, 2010 5:27am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!
- #212,678
- Jan 22, 2010 5:41am Jan 22, 2010 5:41am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!
- #212,680
- Jan 22, 2010 5:46am Jan 22, 2010 5:46am
- Joined Aug 2008 | Status: Money never sleeps | 5,878 Posts
Markets are not Random, they are designed!