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

up to 157.50 then down

A weekly pivot reject would be quite nice at 158.66. . .
Lower highs and lower lows. . .
Be patient let the trade come to you don't chase it!

no no, down to 156, then up to 157.50-158 THEN down again

watch, any minute now it shall statr dropping and i shall whip my stop under it at BE faster than paris gets her knickers off.

136...yes...our target.

Bro, hit 136, we take rest for one month.....

Part of an article I thought would be helpful for the newbies as well the experience traders.



GREED is the most important reason of their failure. They have not been able to become a profitable forex trader because they are greedy. Because they are not even aware of their greed. It controls them and pushes them to overtrade and take wrong positions, but they don’t know. Greed is a normal emotion that everybody has. If you have not been greedy so far and if you think you are not greedy, just trade forex and see how greedy you are. This is normal. Everybody likes to work less and make more. Everybody likes to become a multi-millionaire or multi-billionaire within the shortest time but the problem is this strong desire can not only prevent you from getting rich, but it doesn’t even let you become a profitable forex trader who is able to make a steady small income every month.

The problem is that sometimes we don’t know what greed is, what it does and how it works. If you overtrade; if you take positions when there is no strong and sharp signal; if you take the position while it is too late and you should wait for another trade setup; if you push yourself to trade every day and when you don’t find a trade setup one day you feel angry, guilty and uncomfortable; if you try to double or triple your account within the shortest time; if you get furious when you see you have missed a good trade setup; if you take too much risk and trade more than 2-4% of your account; if you don’t close a wrong position as soon as you are realized that it was a mistake; if you follow several trading systems and strategies because you want to have as many trade setups as possible every day; if you still look for e-books and articles every day and you read them and follow and try their directions and you are not happy with what you have learned; if you like to trade with small time frames to have more trade setups; if you set a big pip or monetary goal for yourself and you get upset when you can not achieve it… THEN you are not able to control your greed.

I don’t say you are greedy. I say you are not able to control your greed. Because everybody is greedy. The difference is some people are able to control their greed and some people are not.

You will become profitable only when you become able to control your greed. You should be able to ignore some positions and signal that don’t look good and strong or you are late and it is not safe to enter. If you review your memory, you will see that most of the bad positions you have taken are because you have not picked a strong signal or because you had missed a strong signal but you pushed yourself to enter and make some profit and get out. But they went against you right after you entered. Maybe they have been waiting for you to enter to change their direction. Sometimes it really looks like that a position has been waiting for you to enter and right when you clicked on buy or sell button, it changed its direction. It is because you are late or you have picked a poor signal.

Being late or picking a poor signal is because of nothing but greed. You can not ignore the money that it may make for you. So you take it. When it comes to trading, everybody becomes greedy. Please don’t get me wrong. I am not criticizing you. This is normal. Everybody likes to work less and make more. I knew myself as someone who could be everything but greedy. But when I started trading, I discovered my greed. It showed up. It is hard to know it first. You have no idea. It pushes and controls you but you don’t feel it. You are not aware of its presence. You will become a profitable trader only when you know it and become able to control it.

What is the solution?

The other problem with greed is that it covers your eyes and doesn’t let you see the bigger picture. You think, to become rich, you should have a $100,000 account and double it every month and as you can not afford to have such an account, you try to double or triple your $5000 account every week to reach to that level but you wipe out your account every month. This is your greed that doesn’t let you sit and calculate and see how much money you could make if you just would be patient and happy with a small amount of profit every month and what account size you would need to become rich in a short time.

Enter your account size in the primary account size cell. I have entered $1000 as an example. In the “profit per month” cell, enter 25 which means 25% profit per month (I have already entered it). After you press enter, it calculates the monthly profit you can make.

So, if you start with a $1000 account and you make only 25% profit every month and you don’t withdraw any money for 24 months, you will have a $211,758.24 account and you can make $52,939.56 per month after 24 months or two years.

It is unbelievable, isn’t it? But it is true. You could never imagine that a $1000 account could be changed to such a huge wealth. Please note that to make such an income, you don’t have to triple your account every month. You should only make 25% per month which is extremely easy.

Now try it with different amounts of primary account size and profit per month values and for example see that if you start with a $2000 account and the same 25% profit per month, you will make $105,879.12 per month, after 24 months. Try it yourself and see.

yep will be a gd long for at least 170-180 area. . . cut the puter of and check it 1 or twice a week. . .

As stated yr 4hr chart is saying something very different. . .

agree but am not sure it will goes so far 157.50 the max ( weekly , daily still bearish

Possible. . . but a 1hr close above 157 and we see a test of resistance at the broken support 157.70 and it may try to clear stops at daily pivot 158.68 area which is also the weekly pivot so it should be gd resistance up there. . .

Right now we have tested the down side a few times and there is not enough momentum to break lower suport at this point therefore a short-term bottom is probably in place atm. . .

Watch for the spike up at the top of the hour. . .

Then 3 of us, will be busy in the T@#@#@## R@#!@#@ ....,
Once in a Blue Moon ..check weekly and monthly chart....

this is the best i ever read in this thread Rggit05, wow how long this took you or this is copy and paste..lol..
the best i have learn in this thread and I've had some failures in my past but now i could realize Failure teaches success..
thanks for this Post...this help alot

Yep agreed. . . weekly need to be relieved so a huge push lower is forthcoming. . . DOW agrees as well. . .

Still stand with my theory but revisiing the up move to 180 pips which, takes us to the weekly pivot as Q has referenced already.

DOW, S&P...both same pattern with GJ weekly.

thanks bro...will read it in the sauna....

Zactly. . .
Shorting all sucker rallies. . .

see chart - target GBP/JPY - 155,80-90

Hello mate

Anyone seeing divergence with MACD 15mn chart?

Strong bounce off the longterm lower trend line.. last time she touched it, was a 1500 pip uprun.. I don't think we see lows untill september so, I believe we are going to 167ish...

Long from 154.16...

Let see how she plays out..