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

  • #224,921
  • May 17, 2010 7:59pm May 17, 2010 7:59pm
Let me just say this for all considering any JPY cross long. Most of the move up was done on declining volume. Now that it's begun to move back down the volume is already picking back up. Price action and volume is where it's at. I don't care what crosses what or what kind of divergence or supermegaleading indicator you have, it all comes down to this: This baby is headed down.
Every time you use 'hopium' in a post, God kills a kitten.
  • #224,922
  • May 17, 2010 8:04pm May 17, 2010 8:04pm
Quoting profxtrader
Let me just say this for all considering any JPY cross long. Most of the move up was done on declining volume. Now that it's begun to move back down the volume is already picking back up. Price action and volume is where it's at. I don't care what crosses what or what kind of divergence or supermegaleading indicator you have, it all comes down to this: This baby is headed down.
unless unimaginable gold and oil reserves are discovered under london I can't think of any reason this thing can do anything but go down.
  • #224,923
  • May 17, 2010 8:09pm May 17, 2010 8:09pm
Quoting pipidiot
That can't be good for bulls, isn't it ? For DOWJ either...
Good for bulls... definitely not. But we can't really blow this out of proportion yet. However, news like this rarely comes without another tidbit and another. Tack on the worry that it will cause about all the money the gov. loaned out and add in some talk about how the tax payers are bailing out Wall Street and big business... well, it may just be a catalyst for 125.

Also, it's still far from US open but futures were trading up an hour or so ago and now are 24 points negative.
check out my blog: forexmademillionaire dot com
  • #224,924
  • May 17, 2010 8:12pm May 17, 2010 8:12pm
I wasn't going to post this one, but it came out before the last one did. Small piece of news, but these small things can add up quickly!

Dropouts rise in gov't loan modification program

Obama mortgage plan provides assistance to 25 percent of participants; nearly as many drop out

BRUSSELS (AP) -- Eurozone finance ministers defended the euro as a "credible" currency on Tuesday, despite its slide to four-year lows against the dollar, as they sought to tame the fears that have gripped financial markets in recent weeks.

Investors fear that as European nations make painful spending cuts to rein in their swelling debt, growth will be stifled for years to come. There are also concerns that governments' rescue efforts for debt-laden EU countries, combined with the European Central Bank's move to buy government bonds, could cause inflation to rise.

Those worries have helped fuel the euro's fall to the lowest level against the dollar since April 2006 and hiked the price of gold, traditionally a safe haven when markets lose faith in other assets.... http://finance.yahoo.com/news/Dropou...&asset=&ccode=
check out my blog: forexmademillionaire dot com
  • #224,925
  • May 17, 2010 8:15pm May 17, 2010 8:15pm
Quoting Scrat
the time of the day is not relevant for volume interpretation. lower volume = less activity.
Hi Scrat & everyone

I understand that lower volume means less trading is going on. However in the declining volume the price is keep rising. Doesn't that means the price is not healthy?

Ok lets have an example, In the event of rising price and declining volume. Which time of the day would you take into consideration of this signal? Can I have your holy advise thanks
Read the entire market, money is made on the main trend not the fluctuation
  • #224,926
  • May 17, 2010 8:18pm May 17, 2010 8:18pm
Quoting Kofmaster
Hi Scrat & everyone

I understand that lower volume means less trading is going on. However in the declining volume the price is keep rising. Doesn't that means the price is not healthy?

Ok lets have an example, In the event of rising price and declining volume. Which time of the day would you take into consideration of this signal? Can I have your holy advise thanks
The simple answer is that it's not buying driving the price up, but rather that the market makers/banks are marking prices up. Sometimes it's to test supply, but to me it looks like the obvious. Better prices to take shorts at and to sucker in longs. Don't be a sucker.
Every time you use 'hopium' in a post, God kills a kitten.
  • #224,927
  • May 17, 2010 8:20pm May 17, 2010 8:20pm
Quoting special0nefx
Morning all, Enjoy...http://www.youtube.com/watch?v=KNyIalZh-Q4
That's impossible to enjoy so long as I have eyes and ears.
Every time you use 'hopium' in a post, God kills a kitten.
  • #224,928
  • May 17, 2010 8:22pm May 17, 2010 8:22pm
Quoting profxtrader
The simple answer is that it's not buying driving the price up, but rather that the market makers/banks are marking prices up. Sometimes it's to test supply, but to me it looks like the obvious. Better prices to take shorts at and to sucker in longs. Don't be a sucker.

dont be too confidance in shorts yet
  • #224,929
  • May 17, 2010 8:25pm May 17, 2010 8:25pm
Quoting profxtrader
That's impossible to enjoy so long as I have eyes and ears.
...Have my eyes [email protected]~132.84 . Price bounce expect test high...GL
  • #224,930
  • May 17, 2010 8:28pm May 17, 2010 8:28pm
Quoting fullhouse
dont be too confidance in shorts yet
That's the thing... this IS my day job. This is what I do professionally. I'm already confident in what I'm saying otherwise I wouldn't be saying it @ all. I'm short from last Thursday @ 139.23.
Attached Image
Every time you use 'hopium' in a post, God kills a kitten.
  • #224,931
  • May 17, 2010 8:32pm May 17, 2010 8:32pm
Quoting profxtrader
That's the thing... this IS my day job. This is what I do professionally. I'm already confident in what I'm saying otherwise I wouldn't be saying it @ all. I'm short from last Thursday @ 139.23.

lol....
  • #224,932
  • May 17, 2010 8:32pm May 17, 2010 8:32pm
Quoting profxtrader
That's the thing... this IS my day job. This is what I do professionally. I'm already confident in what I'm saying otherwise I wouldn't be saying it @ all. I'm short from last Thursday @ 139.23.
With Nice lock pips...
  • #224,933
  • May 17, 2010 8:35pm May 17, 2010 8:35pm
Quoting fullhouse
dont be too confidance in shorts yet
  • #224,934
  • May 17, 2010 8:38pm May 17, 2010 8:38pm
Quoting fullhouse
whts your view ?
how about 137.30/40
  • #224,935
  • May 17, 2010 8:39pm May 17, 2010 8:39pm
Quoting grashid
how about 137.30/40

spot on ... but ill try shorts at 136 and sit tight if it went to 137/138 ..will seee,but up we go
  • #224,936
  • May 17, 2010 8:44pm May 17, 2010 8:44pm
Quoting fullhouse
spot on ... but ill try shorts at 136 and sit tight if it went to 137/138 ..will seee,but up we go
ok mate go ahead..see u back on wednesday ya...cheers
  • #224,937
  • May 17, 2010 8:46pm May 17, 2010 8:46pm
Quoting profxtrader
That's the thing... this IS my day job. This is what I do professionally. I'm already confident in what I'm saying otherwise I wouldn't be saying it @ all. I'm short from last Thursday @ 139.23.

here is a nice H&S pattern for ya... target 136 and above ..
Attached Image (click to enlarge)
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  • #224,938
  • May 17, 2010 9:52pm May 17, 2010 9:52pm
Dip to ~132.8 ish, then up ?

http://i43.tinypic.com/15mfcp4.jpg
  • #224,939
  • May 17, 2010 10:08pm May 17, 2010 10:08pm
Quoting fullhouse
spot on ... but ill try shorts at 136 and sit tight if it went to 137/138 ..will seee,but up we go
down we go
  • #224,940
  • May 17, 2010 10:15pm May 17, 2010 10:15pm
Quoting Clouds
down we go
dont know... but i keep longs

gl
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