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

  • #1,381
  • Jul 30, 2007 6:27pm Jul 30, 2007 6:27pm
Quoting trader8686
It looked like a good support, so far.
I may have spoke too soon
  • #1,382
  • Jul 30, 2007 6:31pm Jul 30, 2007 6:31pm
Quoting auslanco
Guys can we please have this thread to talk only about this GBP/JPY monester. so there are many people watching this thread can learn something . If you have anything else to talk about please PM me ,
I very heartily agree....
  • #1,383
  • Jul 30, 2007 6:35pm Jul 30, 2007 6:35pm
Quoting magiclino
I very heartily agree....
+2
  • #1,384
  • Jul 30, 2007 6:40pm Jul 30, 2007 6:40pm
support @ 241.40 area 10mins chart
  • #1,385
  • Jul 30, 2007 6:42pm Jul 30, 2007 6:42pm
here's the screen shot
Attached Image
  • #1,386
  • Jul 30, 2007 6:44pm Jul 30, 2007 6:44pm
30 min TFT line act as the support 241.40 area
Attached Image
  • #1,387
  • Jul 30, 2007 6:45pm Jul 30, 2007 6:45pm
If it doesn't hold support at 241.40, do you still expect this to go to 243.20?


Thanks,


Frank


Quoting auslanco
support @ 241.40 area 10mins chart
  • #1,388
  • Jul 30, 2007 6:47pm Jul 30, 2007 6:47pm
My TP of 243.20 may reach by the London start
  • #1,389
  • Jul 30, 2007 6:47pm Jul 30, 2007 6:47pm
Quoting frank99
If it doesn't hold support at 241.40, do you still expect this to go to 243.20?


Thanks,


Frank

Yes I do
  • #1,390
  • Jul 30, 2007 6:48pm Jul 30, 2007 6:48pm
A fib expansion puts the drop as going down to 240.92 which is around the 38.2 fib level. That's for anyone interested in that sort of thing - I've never really gotten into it. Although fib levels work well.

Mike
  • #1,391
  • Jul 30, 2007 6:48pm Jul 30, 2007 6:48pm
Quoting auslanco
My TP of 243.20 may reach by the London start
Auslanco, did you start out trying to master G/J the moment you undertook forex trading? Or did you try less volatile pairs first?
  • #1,392
  • Jul 30, 2007 6:48pm Jul 30, 2007 6:48pm
Thanks! I guess I could hold my longs and then hedge this for a few pips down if it breaks 241.40. But, the question is how far will it go down.


Frank


Quoting auslanco
Yes I do
  • #1,393
  • Jul 30, 2007 6:51pm Jul 30, 2007 6:51pm
Auslanco,

Since 243.20 is at the 38.2% fibo on daily chart.
I feel we may be able to short it down from there, after we reach it.
Although, we still need to be careful and confirmed with all the indicators befoer the entry.

  • #1,394
  • Jul 30, 2007 6:53pm Jul 30, 2007 6:53pm
Thanks Mike! This is what I was looking for.


Frank


Quoting MikeW
A fib expansion puts the drop as going down to 240.92 which is around the 38.2 fib level. That's for anyone interested in that sort of thing - I've never really gotten into it. Although fib levels work well.

Mike
  • #1,395
  • Jul 30, 2007 6:55pm Jul 30, 2007 6:55pm
Quoting MikeW
A fib expansion puts the drop as going down to 240.92 which is around the 38.2 fib level. That's for anyone interested in that sort of thing - I've never really gotten into it. Although fib levels work well.

Mike
What sort of thing?
  • #1,396
  • Jul 30, 2007 6:55pm Jul 30, 2007 6:55pm
Quoting forexrules
Auslanco, did you start out trying to master G/J the moment you undertook forex trading? Or did you try less volatile pairs first?
When I first started trading I didnt even look @ GJ. I thought the spread was too high for me. ... When I decided to specialize on just one pair I went with GJ since it suited my trading style and my objectives.
  • #1,397
  • Jul 30, 2007 6:59pm Jul 30, 2007 6:59pm
Quoting auslanco
My TP of 243.20 may reach by the London start
wow so what are you waiting for guys let us buy gbpjpy with all our hearts and all our soul 243 is not bad considering the spot of gbpjpy right now is in the mid 241's tnx for the reco auslanco M holding long pos everytime the gbpjpy drops to a new low nobody can beat the carry trades I learned it from the big boyzzzz....
  • #1,398
  • Jul 30, 2007 7:00pm Jul 30, 2007 7:00pm
Quoting auslanco
When I first started trading I didnt even look @ GJ. I thought the spread was too high for me. ... When I decided to specialize on just one pair I went with GJ since it suited my trading style and my objectives.
The spread would be intimidating to anyone. You get to pay a higher fine for being wrong. But once you get good at it, you can hit home runs every game and not bother with the base hits.
  • #1,399
  • Jul 30, 2007 7:01pm Jul 30, 2007 7:01pm
auslanco

Just as a matter of intrest with the pair testing the fibo levels what SL are you using for your 243.20 trade?

  • #1,400
  • Jul 30, 2007 7:03pm Jul 30, 2007 7:03pm
Quoting 4x_Trader
wow so what are you waiting for guys let us buy gbpjpy with all our hearts and all our soul 243 is not bad considering the spot of gbpjpy right now is in the mid 241's tnx for the reco auslanco M holding long pos everytime the gbpjpy drops to a new low nobody can beat the carry trades I learned it from the big boyzzzz....

My actual entry would have been 241.07... But missed while I was away from the computer.
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