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Daily GBP/JPY analysis

  • #9,381
  • Jul 24, 2007 9:29pm Jul 24, 2007 9:29pm
Quoting TacitTrader
sounds tempting to scalp that move...
You read my mind....
  • #9,382
  • Jul 24, 2007 9:30pm Jul 24, 2007 9:30pm
Quoting auslanco
If you have just gone short be careful as there will be a big 100 + pip retracemnt untill the london start... the big retracement might start around 3.30GMT
just t/p of my short position opened just now.
where do you think it will retrace ?
Don't be panic when it's negative
  • #9,383
  • Jul 24, 2007 9:31pm Jul 24, 2007 9:31pm
Oh, you're saying that's where you went short. ok. thx

Quoting auslanco
250.02 monday 1 hour before the asian start
249.50 yeasterday...

I knew about this bear trend from friday night...
  • #9,384
  • Jul 24, 2007 9:34pm Jul 24, 2007 9:34pm
Quoting Dobin
just t/p of my short position opened just now.
where do you think it will retrace ?
my target is a spike thru to 245.90 area... may be more... Just have a set profit target around 246
  • #9,385
  • Jul 24, 2007 9:35pm Jul 24, 2007 9:35pm
Quoting auslanco
250.02 monday 1 hour before the asian start
249.50 yeasterday...

I knew about this bear trend from friday night...
Hello guys! It's fun when everyone is making $ isn't it? We should do few more virtual party like this and then, we save $ and prepare for a real party (timing with the next bear or bull) to trade together somewhere as a group?
Or should we hire Auslanco as manager for managed funds? Certainly, he would beat the hedged funds that is the cause of so many problems in the US, particularly those poor folks that lose their houses (not many people talk about them).

Anyhow, I'm not making any $ yet as I have some drawn down (I did not go short at the beginning) but I'll make some $ when we reach the bottom (245 or 244?).

Have fun everyone

BR
  • #9,386
  • Jul 24, 2007 9:36pm Jul 24, 2007 9:36pm
Quoting monarch
Just spent a half hour reading all the Post here.

I take off, and the GJ takes off, and the Thread takes off.

Anyone having fun yet...??? Got to love this.

Closed 1/2 lots at 246.55 earlier, still riding my other Shorts from 249.85 gap open on Sunday, that big gap predicted a big downward move this week, along with the close of last weeks Weekly Candle.

Auslanco has been repeating over and over, SHORT, and here is that SHORT, so now we watch a few 30 minute candles, do some short scalps, and wait for the next move into the 245 area.

I am only in for 1/2 lots at the time, resisiting the urge to re-enter those for now. I will only scalp the 30 min candles, and in the direction of the southern border.

Good Job everyone, lets stay the course and keep on top of these moves, so we can all make money.

I will enter a Scalp-Short when the price comes back up to 247.09 for the second test of the retrace level, then ride it for the test of the lower range at 246.49.

Dont you hate when that happens... you wait for days watching the yo yo ride and when it takes off you not there... happened to me many times
  • #9,387
  • Jul 24, 2007 9:38pm Jul 24, 2007 9:38pm
Yeah what a party!!! I am planning to try to scalp this retrace 40-50 pips if possible.

Auslanco: I sent you an email, subject : Quick Forex Thing

Take a look at that when you get the chance. It might interest you and I might be able to help you out with that.
Craazy
  • #9,388
  • Jul 24, 2007 9:40pm Jul 24, 2007 9:40pm
Quoting bluerose
Hello guys! It's fun when everyone is making $ isn't it? We should do few more virtual party like this and then, we save $ and prepare for a real party (timing with the next bear or bull) to trade together somewhere as a group?
Or should we hire Auslanco as manager for managed funds? Certainly, he would beat the hedged funds that is the cause of so many problems in the US, particularly those poor folks that lose their houses (not many people talk about them).

Anyhow, I'm not making any $ yet as I have some drawn down (I did not go short at the beginning) but I'll make some $ when we reach the bottom (245 or 244?).

Have fun everyone

BR
hand, I am doing the same thing
catch the bear first then grab the bull !

haha
Don't be panic when it's negative
  • #9,389
  • Jul 24, 2007 9:42pm Jul 24, 2007 9:42pm
Quoting bluerose
Hello guys! It's fun when everyone is making $ isn't it? We should do few more virtual party like this and then, we save $ and prepare for a real party (timing with the next bear or bull) to trade together somewhere as a group?
Or should we hire Auslanco as manager for managed funds? Certainly, he would beat the hedged funds that is the cause of so many problems in the US, particularly those poor folks that lose their houses (not many people talk about them).

Anyhow, I'm not making any $ yet as I have some drawn down (I did not go short at the beginning) but I'll make some $ when we reach the bottom (245 or 244?).

Have fun everyone

BR
Thanks for the compliment BR but I wouldnt go that far... I'm just a guy who happens to follow the basics of trading..
  • #9,390
  • Jul 24, 2007 9:43pm Jul 24, 2007 9:43pm
Quoting craazy
Yeah what a party!!! I am planning to try to scalp this retrace 40-50 pips if possible.

Auslanco: I sent you an email, subject : Quick Forex Thing

Take a look at that when you get the chance. It might interest you and I might be able to help you out with that.

sure will Crazzy.. thank you..
  • #9,391
  • Jul 24, 2007 9:44pm Jul 24, 2007 9:44pm
Auslanco/others: You mentioned a big pip retracement. Any suggestions on a place to stock up another lot or two for short?

I'm looking at 247.30... thoughts?
Craazy
  • #9,392
  • Jul 24, 2007 9:46pm Jul 24, 2007 9:46pm
Quoting craazy
Auslanco/others: You mentioned a big pip retracement. Any suggestions on a place to stock up another lot or two for short?

I'm looking at 247.30... thoughts?

Market volume is droping down big time ...best to wait for the london seesion start
  • #9,393
  • Jul 24, 2007 9:46pm Jul 24, 2007 9:46pm
Quoting auslanco
If you have just gone short be careful as there will be a big 100 + pip retracemnt untill the london start... the big retracement might start around 3.30GMT
Where it will retrace to?
  • #9,394
  • Jul 24, 2007 9:47pm Jul 24, 2007 9:47pm
Quoting auslanco
Dont you hate when that happens... you wait for days watching the yo yo ride and when it takes off you not there... happened to me many times
Actually I was trading, and watching the complete move, I just wasn't on the thread to read all of this.

I was already short prior to this move, and had my limit in, and captured great profits from the move to 246.55.

I have trades open 24/7, with no stops on GJ, so I have an eye on it even when I sleep. ') LOL

Let the Party begin.
  • #9,395
  • Jul 24, 2007 9:49pm Jul 24, 2007 9:49pm
Quoting trader8686
Where it will retrace to?

I will confirm the retracement @ 00.00EST (04.00 GMT)
  • #9,396
  • Jul 24, 2007 9:58pm Jul 24, 2007 9:58pm
Market volume has dropped by 50% .... typical Tokyo mid session..
  • #9,397
  • Jul 24, 2007 10:04pm Jul 24, 2007 10:04pm
Quoting auslanco
Market volume has dropped by 50% .... typical Tokyo mid session..
Are we going to still have a big retracement?
  • #9,398
  • Jul 24, 2007 10:07pm Jul 24, 2007 10:07pm
I will let you know @ the next 4hr bar which is due at 00.00 EST
  • #9,399
  • Jul 24, 2007 10:08pm Jul 24, 2007 10:08pm
Quoting auslanco
I will confirm the retracement @ 00.00EST (04.00 GMT)
What is your experience with the LONGS coming into play here today at LONDON looking for that TRIPLE Interest to pay out?

Not that I think were Long just yet, but was just pondering the possibilies of what if???

Thanks, Ken
  • #9,400
  • Jul 24, 2007 10:08pm Jul 24, 2007 10:08pm
Quoting auslanco
I will let you know @ the next 4hr bar which is due at 00.00 EST
Is it likely or not? I need to cut some position before that.
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