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

  • #2,201
  • Jul 31, 2007 2:59pm Jul 31, 2007 2:59pm

the only thing to do..

Quoting muzicmasti
long @240.30

"Analysis Is Hard But Trade Is Easy"
  • #2,202
  • Jul 31, 2007 2:59pm Jul 31, 2007 2:59pm
Regardless of A, wouldnt you say price is struggling to get DOWN and THROUGH the low level of 27 july?
  • #2,203
  • Jul 31, 2007 3:01pm Jul 31, 2007 3:01pm
I can't believe some of you are long after a clear retrace to 38.2% on both of these pairs I'm posting, in a clear corrective pattern, with pretty convincing evidence that we are beginning more impulse waves down. Also with the fundamentals of all of the subprime issues, things seem that there could be a huge meltdown yet to come. Just by eyeballing the charts now, we have obviously stalled at a the 50% retrace of the last correction up, we will aagin at 61.8, then if we break previous lows, it is likely going for another good ride down. Anyways, I guess we'll see what the market has to say, but that is what
I am looking at. Good trading to all of you.
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  • #2,204
  • Jul 31, 2007 3:02pm Jul 31, 2007 3:02pm
Quoting Timingy
You're ambitous - lets aim for 241.5 where the 5SMA is first
Thanks for your support in the Spirit. (Like your Spirit, too.)
  • #2,205
  • Jul 31, 2007 3:02pm Jul 31, 2007 3:02pm
Quoting emda
I am still long at 242...didn't close any... maybe add more long now...
Someday i found very good rule "Never add to losing trades" .
  • #2,206
  • Jul 31, 2007 3:03pm Jul 31, 2007 3:03pm
just had the worst day in my 1 year trading career, but if I hadn't been so reckless and stupid it would have been just a disappointing day rather than the disastrous one it became for me. Today I lost > 40% of my equity! It may not be the end but a huge setback in every way. I would have expected more from myself at this stage.


Just started playing this pair last week and lost 75% of my account already but I'm fighting back this week , got back a little past two days.I red the post and knew that it was risky but I like the action.Guess that's the only I'll learn.
  • #2,207
  • Jul 31, 2007 3:06pm Jul 31, 2007 3:06pm
Quoting mudskipper
I can't believe some of you are long after a clear retrace to 38.2% on both of these pairs I'm posting, in a clear corrective pattern, with pretty convincing evidence that we are beginning more impulse waves down. Also with the fundamentals of all of the subprime issues, things seem that there could be a huge meltdown yet to come. Just by eyeballing the charts now, we have obviously stalled at a the 50% retrace of the last correction up, we will aagin at 61.8, then if we break previous lows, it is likely going for another good ride down. Anyways, I guess we'll see what the market has to say, but that is what
I am looking at. Good trading to all of you.
Yeah - Yeah - isn't looking good for us Longs.
But then again - there's always Hope.....
  • #2,208
  • Jul 31, 2007 3:08pm Jul 31, 2007 3:08pm

i guess u not understand what emda trying to do...price is well bottomed...so adding long will reduce the lost if it not gonna make it at the right place...hope this right emda


Quoting alex_raivola
Someday i found very good rule "Never add to losing trades" .

"Analysis Is Hard But Trade Is Easy"
  • #2,209
  • Jul 31, 2007 3:10pm Jul 31, 2007 3:10pm
Quoting mudskipper
I can't believe some of you are long after a clear retrace to 38.2% on both of these pairs I'm posting, in a clear corrective pattern, with pretty convincing evidence that we are beginning more impulse waves down. Also with the fundamentals of all of the subprime issues, things seem that there could be a huge meltdown yet to come. Just by eyeballing the charts now, we have obviously stalled at a the 50% retrace of the last correction up, we will aagin at 61.8, then if we break previous lows, it is likely going for another good ride down. Anyways, I guess we'll see what the market has to say, but that is what
I am looking at. Good trading to all of you.
I am looking at the previous daily bar closed at the bottom, I think it is more on the down side, too.
  • #2,210
  • Jul 31, 2007 3:11pm Jul 31, 2007 3:11pm
Quoting trader8686
Ok, Are we still moving toward 243.2 or not?
Need to know.

Anyone else long - feel for you all. I should not be advising anyone - I don't know anything but I will say this - those who are in a big loss are extremely emotional - and at times like this we all tend to get that way - logic fails - we are scared. Just cause you got stabbed doesn't necessarily mean you pull the knife out - you might do more damage doing that. Damage is already done. Think realistically - realistically speaking after a big drop like this it is more probable that it will go up from here. May not be up to your take profit level but - the possibily of going up is more than going down - I would wait at this point and not sell. In a few hours charts might change and you would have a better idea if you should cover your loss or wait for TP target -
  • #2,211
  • Jul 31, 2007 3:13pm Jul 31, 2007 3:13pm
Quoting Se[V]eN

i guess u not understand what emda trying to do...price is well bottomed...so adding long will reduce the lost if it not gonna make it at the right place...hope this right emda




EXACTLY
  • #2,212
  • Jul 31, 2007 3:16pm Jul 31, 2007 3:16pm
back in, short @ 240.38 lets see what happens
  • #2,213
  • Jul 31, 2007 3:20pm Jul 31, 2007 3:20pm
Quoting digitizer123
Anyone else long - feel for you all. I should not be advising anyone - I don't know anything but I will say this - those who are in a big loss are extremely emotional - and at times like this we all tend to get that way - logic fails - we are scared. Just cause you got stabbed doesn't necessarily mean you pull the knife out - you might do more damage doing that. Damage is already done. Think realistically - realistically speaking after a big drop like this it is more probable that it will go up from here. May not be up to your take profit level but - the possibily of going up is more than going down - I would wait at this point and not sell. In a few hours charts might change and you would have a better idea if you should cover your loss or wait for TP target -
Also I don't think it's a good idea to move your stop loss - Stop loss should be a few pips below - if it gets taken out - just give up and walk away from the computer -
  • #2,214
  • Jul 31, 2007 3:20pm Jul 31, 2007 3:20pm
Quoting Timingy
Yeah - Yeah - isn't looking good for us Longs.
But then again - there's always Hope.....

Go to a daily chart of GJ. Draw a straight line through the average from beginning of 2002 through the beginning of 2006. Then extend the line to today. You should find yourself around the 215 mark. We have been in overshoot for the past 18 months, and I believe we will correct to at least the 215 level. Greed and super liquidity has created the overshoot. Fear and a credit crunch will quickly fix the overshoot.

Do not think that GJ cannot go a lot lower.
  • #2,215
  • Jul 31, 2007 3:24pm Jul 31, 2007 3:24pm
Quoting Timingy
Yeah - Yeah - isn't looking good for us Longs.
But then again - there's always Hope.....
I think if you have been in a losing trade & you are down & you are not sure which way it will go, leave it alone. Do not risk more trying recoup back what you have lost.

There is always tomorrow & the next day & the day after that, unless it is a Friday. Set your pips for the week & if made go away have a long weekend.

The best thing after a loss is to sleep on it & see where you went wrong. I was just reading the other Gbp/yen thread & Bravado & a few others said it was going down, I suggest read what they had to say look at the images/pictures. Then I suppose it may all become clear.

Laters guys I am out.

Scott
Le singe est dans l'arbre
  • #2,216
  • Jul 31, 2007 3:24pm Jul 31, 2007 3:24pm
Quoting keramikus
Regardless of A, wouldnt you say price is struggling to get DOWN and THROUGH the low level of 27 july?

There is a lot of downward pressure. I'm Looking for 237.89ish -237.42
at least bounce if not bottom. if falls thru there then 235-234.50 for a run to the ultimate top of 300 yes 300 and then the big fall but that's down the road. Will it get there tonight I do not know but it is going to these levels and will bounce once there... if it gets there

Incidently you will know when we hit the bottom because this thing will jump up like nobodys business 3-400 one day down 2-300 the next then see ya later. Still a ton o'pips left in this baby.

I use fibs Ma's and multiple wm's on diff time frames and no I do not disclose any fib or ma's or time frame of Wm % that I use.

So look and your charts ladies and gentlemen and see what others see.....or not

By the way Auslanco most of your calls validate my system cool when things like that happen
So before you ask please don't
  • #2,217
  • Jul 31, 2007 3:25pm Jul 31, 2007 3:25pm
Quoting markam
Go to a daily chart of GJ. Draw a straight line through the average from beginning of 2002 through the beginning of 2006. Then extend the line to today. You should find yourself around the 215 mark. We have been in overshoot for the past 18 months, and I believe we will correct to at least the 215 level. Greed and super liquidity has created the overshoot. Fear and a credit crunch will quickly fix the overshoot.

Do not think that GJ cannot go a lot lower.
It can go lower - that's why we have an SL
  • #2,218
  • Jul 31, 2007 3:27pm Jul 31, 2007 3:27pm
Quoting markam
Go to a daily chart of GJ. Draw a straight line through the average from beginning of 2002 through the beginning of 2006. Then extend the line to today. You should find yourself around the 215 mark. We have been in overshoot for the past 18 months, and I believe we will correct to at least the 215 level. Greed and super liquidity has created the overshoot. Fear and a credit crunch will quickly fix the overshoot.

Do not think that GJ cannot go a lot lower.
But on the other hand, have you thought about this? If the trend has gone up for 18 months, what makes you think that the market will make a U turn and totally negate the trend just overnight? I believe a correction is necessary, but go back to 215? ....
  • #2,219
  • Jul 31, 2007 3:27pm Jul 31, 2007 3:27pm

not in a few hours i think

Quoting markam
Go to a daily chart of GJ. Draw a straight line through the average from beginning of 2002 through the beginning of 2006. Then extend the line to today. You should find yourself around the 215 mark. We have been in overshoot for the past 18 months, and I believe we will correct to at least the 215 level. Greed and super liquidity has created the overshoot. Fear and a credit crunch will quickly fix the overshoot.

Quoting markam

Do not think that GJ cannot go a lot lower.
"Analysis Is Hard But Trade Is Easy"
  • #2,220
  • Jul 31, 2007 3:27pm Jul 31, 2007 3:27pm
Quoting digitizer123
Also I don't think it's a good idea to move your stop loss - Stop loss should be a few pips below - if it gets taken out - just give up and walk away from the computer -
don't you move it to protect profits when you are positive?
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