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-   -   Auslanco - GBP/JPY and GBP/USD (newstrade) (https://www.forexfactory.com/showthread.php?t=40582)

donfriday Jun 1, 2009 11:06am | Post# 180361

Somebody tell me when to go short as today has burned me bad and stung on another 80 pips. Took me for a huge percentae today, not good. I'm stunned. I guess in hind sight there was no reasson to short as no evidence existed anywhere on the chart to confirm one so pretty stupid to have shorted on a hunch. Thats' what we get I guess

Hmmm u are playing on a risky side gj short now is very risky only if u can wait for 159.37 on my chart but we could test 160 today as gj is not tired yet.

Geeza.kb Jun 1, 2009 11:11am | Post# 180362

Respect
 
am violating my own analysis....that is why i have so many iggy list to avoid from messy up my reference...now only left a few including you, piter, rgiit, scrat, PB & Q..since the rest of my buddy is no more see here....am hoping this will clean up all my overview in my next analysis...am already saw this my UTL ~ 156.50-158 level after saw GU is not able to close below 1.6 on Friday and keep moving to 38.2% his monthly fib...now am wasting 500pips in GY and 300pips in GU....very bad day and worst ever trading in my life...looking to withdrwal...
Respect to you Grashid, when I take a hit I go into my drinking mode; out of site. A couple days away I find the light at the end of the tunnel shines again .....
I hope this helps as one who has been there a lot of times .........

Respect and dont let her beat you ....


Andrew Vu Jun 1, 2009 11:14am | Post# 180363

It seemed to me you have been making pips, good job!
 
Hmmm u are playing on a risky side gj short now is very risky only if u can wait for 159.37 on my chart but we could test 160 today as gj is not tired yet.
You have learnt very fast. Good Job, buddy. Keep it up!

mrhurley1 Jun 1, 2009 11:21am | Post# 180364

all i can say is im glad i gave up tradin the us session...manic

Aquafina Jun 1, 2009 11:22am | Post# 180365

we look overbought but....we still have a lot of room to at least 158...don't be surprised if we pop up...baby (will post wekly analysis with chart later)

@ some point we have to revisit 150 at least when?..i dunno...taking this day by day in June..baby

Happy pippin
Big Bruv, Good comments!

mrhurley1 Jun 1, 2009 11:23am | Post# 180366

also lookin back it looks like a lot of newbs could of made money just by sticking a 50 ema on there charts and trading in the direction of it...thats a big part of my system...follow the trend

Scrat Jun 1, 2009 11:27am | Post# 180367

yes, it doesn't make any sense other than they just ran all the stops in the world, banked the profits and killed the hope for shorts...
and now let's just wait for every tom dick and harry to open longs from the top - the moment when the last sucker jumps on the long train, that's when it will drop like a knife.

the volumes on 4 hours are very low .... who is driving this.

Grashid said 900 pip down ... something is cooking and he may be right on this.

However we may well test 1598.5 to 160 at this rate before any kind of drop.

I hate to say this but I have been using price action today and indicators as volume makes NO sense. The GJ is being marked up again like crazy under low volume

Attachment 253949

donfriday Jun 1, 2009 11:28am | Post# 180368

You have learnt very fast. Good Job, buddy. Keep it up!


thanks but i think we are all here to make pips...cut loses and let the profit run...

what big bruv is saying is right gj actualy break strong resistance and rise for 1000pips up and drop again before it continue but 160 is my sell limit point for me to be on the safe side...

currencyexch Jun 1, 2009 11:28am | Post# 180369

also lookin back it looks like a lot of newbs could of made money just by sticking a 50 ema on there charts and trading in the direction of it...thats a big part of my system...follow the trend

and I feel like, no I am an idiot, for not jumping on board earlier seeing the move and then some alleged pro says the trend is not your friend, dah. Worked hard last week to get my account back up while almost getting wiped out and damn near get wiped out today,, now starting back way oin the hole. Man I'd hate to have to go get a job.

arezab Jun 1, 2009 11:28am | Post# 180370

You have learnt very fast. Good Job, buddy. Keep it up!
As long as price stays above %38.2 (156.00) we will see 167.35 (%50 fib retrace) and if broken then 178.80 (%61.8) ... very risky to go short. No sign of weakness from 15M chart up to weekly. All very very bullish.

So please be careful with shorts and if in any case you wanna try a short, first of all be prepared for a sl hit and second wait for a classic divergence at least on 15M or 30M chart.

donfriday Jun 1, 2009 11:32am | Post# 180371

also lookin back it looks like a lot of newbs could of made money just by sticking a 50 ema on there charts and trading in the direction of it...thats a big part of my system...follow the trend

just keep it simple and follow the trend and ur analysis u will find ur mistake.

donfriday Jun 1, 2009 11:35am | Post# 180372

As long as price stays above %38.2 (156.00) we will see 167.35 (%50 fib retrace) and if broken then 178.80 (%61.8) ... very risky to go short. No sign of weakness from 15M chart up to weekly. All very very bullish.

So please be careful with shorts and if in any case you wanna try a short, first of all be prepared for a sl hit and second wait for a classic divergence at least on 15M or 30M chart.

good advice...

Yahoomt4 Jun 1, 2009 11:38am | Post# 180373

Thats true

currencyexch Jun 1, 2009 11:40am | Post# 180374

As long as price stays above %38.2 (156.00) we will see 167.35 (%50 fib retrace) and if broken then 178.80 (%61.8) ... very risky to go short. No sign of weakness from 15M chart up to weekly. All very very bullish.

So please be careful with shorts and if in any case you wanna try a short, first of all be prepared for a sl hit and second wait for a classic divergence at least on 15M or 30M chart.

The problem I've been having, as in this situation, as soon as I go long the trade goes in the other direction. Seems most of the time on the outside looking in and still paying the admission price and not seeing what the inside looks like, Frustrating and hangin on.

donfriday Jun 1, 2009 11:46am | Post# 180375

The problem I've been having, as in this situation, as soon as I go long the trade goes in the other direction. Seems most of the time on the outside looking in and still paying the admission price and not seeing what the inside looks like, Frustrating and hangin on.

it happen to eveyone from the begining of the game..forex is simple but not easy ....i have same problem when i started forex and close trade or listen to a friend ...i long crude oil at 54 and a friend told me that oil dont follow chart so it will drop i should close it, i told him that it will rise but i close it becuase i tought he know better...see my life now oil as not drop ever since i enter that long and still rising..i wonder how much i should have in back now if i still have that position..
there is a book that enllightered me about forex so i would like to share ...bill williams trading chaos...look for it at fx1618.com read it and u will control ur emotion and patience for ur trade...
good luck

harigp Jun 1, 2009 11:46am | Post# 180376

sorry
 
sorry to hear


Dont Lose heart

currencyexch Jun 1, 2009 11:53am | Post# 180377

it happen to eveyone from the begining of the game..forex is simple but not easy ....i have same problem when i started forextrading chaos...look for it at fx1618.com read it and u will control ur emotion and patience for ur trade...
good luck
Thanks I'll check it out. I'm not sure it is emotions but generally pick wrong direction. Seems when I get direction right it's only for little money and when I increase lots I get hammered and of course it reverses what I made and then some. It's like a leaky bucket and the bucket is gradually having less water.

gillybabe Jun 1, 2009 11:56am | Post# 180378

it happen to eveyone from the begining of the game..forex is simple but not easy ....i have same problem when i started forex and close trade or listen to a friend ...i long crude oil at 54 and a friend told me that oil dont...
I have just been there and it is in Japanese???

pino2 Jun 1, 2009 11:59am | Post# 180379

thanks but i think we are all here to make pips...cut loses and let the profit run...

what big bruv is saying is right gj actualy break strong resistance and rise for 1000pips up and drop again before it continue but 160 is my sell limit point for me to be on the safe side...
Yes we are all here to make pips, but today it was a matter of take loss and stop profit, today seems that manipulation is ruling.

paogeh Jun 1, 2009 12:00pm | Post# 180380

thanks
 
today my account of AUD25K , with floating of -AUD5K become now -AUD10K with DD of 43%, thanks to GBP/JPY

I found that today i learned my precious lessons from the experts here ....

i have seating in front the PC since Tokyo session, I took LEAVE today (with some breaks in between for meals)

i'm still struggling whether to accept the loss and close all the trades or wait for it to retrace ,,,

anyway, thanks for all the advise and materials, will go through them soon.

Going to sleep soon, ....tired. ..


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