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

  • #226,681
  • May 28, 2010 12:27pm May 28, 2010 12:27pm
I know it may sound a bit crazy, but with the Spain news and the lack of individuals actually trading right now it may not be a bad idea to hold some shorts through the weekend. Asia and Europe are going to have to react to this news and the US really hasn't done much with it. I may put some shorts on and see what happens coming into next week.
check out my blog: forexmademillionaire dot com
  • #226,682
  • May 28, 2010 12:56pm May 28, 2010 12:56pm
Quoting Geppy
I know it may sound a bit crazy, but with the Spain news and the lack of individuals actually trading right now it may not be a bad idea to hold some shorts through the weekend. Asia and Europe are going to have to react to this news and the US really hasn't done much with it. I may put some shorts on and see what happens coming into next week.
Not to say it's right, but if targets aren't achieved today (they won't be)... I will still hold mine. I love low volume days like the upcoming holidays. ANYTHING can happen
Every time you use 'hopium' in a post, God kills a kitten.
  • #226,683
  • May 28, 2010 1:26pm May 28, 2010 1:26pm
I got rid of all my shorts. Figured I won't be here to man the ship come Sunday or even Monday for that matter and I won't even have cell service to check in remotely so this is probably best.

See you Monday night!

Quoting profxtrader
Not to say it's right, but if targets aren't achieved today (they won't be)... I will still hold mine. I love low volume days like the upcoming holidays. ANYTHING can happen
check out my blog: forexmademillionaire dot com
  • #226,684
  • May 28, 2010 1:34pm May 28, 2010 1:34pm
Quoting Geppy
I got rid of all my shorts. Figured I won't be here to man the ship come Sunday or even Monday for that matter and I won't even have cell service to check in remotely so this is probably best.

See you Monday night!
I always am. iPhone, laptop, Hughes portable satellite receiver... I'm ALWAYS trading. My wife hates it, but doesn't bitch about the money.
Every time you use 'hopium' in a post, God kills a kitten.
  • #226,685
  • Edited 8:04pm May 28, 2010 1:41pm | Edited 8:04pm
No point Trading now...Price in a Pennant...15M..Breakout Probably Sunday..!!

OR the big move last hour of trading...may be...

Have a Good Week end Folks...
Markets are not Random, they are designed!
  • #226,686
  • May 28, 2010 1:41pm May 28, 2010 1:41pm
Nice, I'll have my iPhone but apparently won't be able to get reception where I'll be camping...

Quoting profxtrader
I always am. iPhone, laptop, Hughes portable satellite receiver... I'm ALWAYS trading. My wife hates it, but doesn't bitch about the money.
check out my blog: forexmademillionaire dot com
  • #226,687
  • May 28, 2010 3:08pm May 28, 2010 3:08pm
Portable satellite must be nice. Do you have a link to the company you use? I've been thinking of getting one of those myself.

Quoting profxtrader
I always am. iPhone, laptop, Hughes portable satellite receiver... I'm ALWAYS trading. My wife hates it, but doesn't bitch about the money.
  • #226,688
  • May 28, 2010 3:38pm May 28, 2010 3:38pm
Quoting Geppy
I know it may sound a bit crazy, but with the Spain news and the lack of individuals actually trading right now it may not be a bad idea to hold some shorts through the weekend. Asia and Europe are going to have to react to this news and the US really hasn't done much with it. I may put some shorts on and see what happens coming into next week.
I left one open just in case a war starts or whatever craziness might happen.
  • #226,689
  • May 28, 2010 3:45pm May 28, 2010 3:45pm
Quoting Leche Mocha
Portable satellite must be nice. Do you have a link to the company you use? I've been thinking of getting one of those myself.
The receiver is the HNS-9201. I honestly don't remember who the actual internet service is provided by to be honest. I can check credit card statements if you're really interested. I was set up by the company I ordered it from initially. I don't pay much monthly, but I pay through the teeth when I use it, which is fine, because it doesn't get THAT much use (probably less than 10 days a year) but it IS nice to have it just in case or to be somewhere out in BFE or the ability to travel to BFE and still check my trades.
Every time you use 'hopium' in a post, God kills a kitten.
  • #226,690
  • May 28, 2010 5:19pm May 28, 2010 5:19pm
Here is update for my post http://www.forexfactory.com/showpost...stcount=226662

a comment about GJ for last week, a method I call as below so above and it do help me some times and can be considered as fibo 50% retrace somehow..

our opening candle for this week on H1 chart was around 30 pips, our lower candle of the bearish wave was 60 pips.
the opening candle give us around 270 pips as bearish so the 60 pips candle will give us the double wave size inside the same week as its usually happen.

plus measuring some many other candles confirm the long trend will be ended at 133.20 ~ 22 then we should have a good bearish wave.

well this is a side of my way of trading and each candle is meaningful to me.

for the trends which is my advices all right until now about them, I place them on 45 degree using the photoshop, some said it's wrong to take angles degrees from charts on photshop but it to work great with me.
example if you take chart of eurusd on weekly you gonna see I will attach its picture..
and here post about it http://www.forexfactory.com/showpost...stcount=223394

I hope what I say help to understand charts better.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ-As-above-so-below!.jpg Size: 167 KB
Click to Enlarge Name: trend-45.jpg Size: 188 KB
Click to Enlarge Name: gj1h45 trend.gif Size: 35 KB
  • #226,691
  • May 29, 2010 11:44am May 29, 2010 11:44am
Quoting maanawi
Here is update for my post...
nice work, congrats
  • #226,692
  • May 29, 2010 11:46am May 29, 2010 11:46am
I found this interesting on H4 chart, price bounce last week from 130.85 this may be confirm a good long journey up to 135.40 I will just watch the bouncing and breaking with candle close from these yellow lines when next week open.
Attached Image (click to enlarge)
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  • #226,693
  • May 29, 2010 11:47am May 29, 2010 11:47am
Quoting metlife777
nice work, congrats
thanks mate
  • #226,694
  • May 30, 2010 4:56am May 30, 2010 4:56am
I suspect Sterling will be under pressure early this trading week. BP's Top Kill operation has not stopped the oil leak. Will be at least 2 months before they can definitively cap the leak.
  • #226,695
  • Edited 5:44am May 30, 2010 5:11am | Edited 5:44am
Quoting ukdaytrader
I suspect Sterling will be under pressure early this trading week. BP's Top Kill operation has not stopped the oil leak. Will be at least 2 months before they can definitively cap the leak.
All my indicators are with you, despite my call last week for going up.
We're going down first I think, I'll post a chart later.

Shamu

Being flexible is the secret in this game.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #226,696
  • May 30, 2010 2:12pm May 30, 2010 2:12pm
what is the best indicator to spot the divergence ?
ブードゥー教
  • #226,697
  • Edited 7:13pm May 30, 2010 6:54pm | Edited 7:13pm
spike to 132.50, then down to 130.44 for a lower low on daily... we should be going down after another test of resistance... so, maybe 132.70 area again (or lower) and then down for new lows.
Attached Image (click to enlarge)
Click to Enlarge Name: g-j.gif Size: 49 KB
Nihil Sine Deo.
  • #226,698
  • May 30, 2010 7:17pm May 30, 2010 7:17pm
Quoting maanawi
I found this interesting on H4 chart, price bounce last week from 130.85 this may be confirm a good long journey up to 135.40 I will just watch the bouncing and breaking with candle close from these yellow lines when next week open.
looking for H4 Candle to close above 132.20
  • #226,699
  • May 30, 2010 9:19pm May 30, 2010 9:19pm
Quoting Voodoo
what is the best indicator to spot the divergence ?
Your EYES....And of course RSI...
Markets are not Random, they are designed!
  • #226,700
  • May 31, 2010 12:10am May 31, 2010 12:10am
in this order - macd, stochastic, cci. rsi doesn't work very well with divergences, although it's not very bad.

you will need to figure out the setting (for instance, macd 8,17,9; or stochastic 9,4,5... or cci 14) depending on your trading style and trend speed.

Quoting Voodoo
what is the best indicator to spot the divergence ?
Nihil Sine Deo.
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