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

  • #2,241
  • Jul 31, 2007 3:50pm Jul 31, 2007 3:50pm

did auslanco wake up late today?

"Analysis Is Hard But Trade Is Easy"
  • #2,242
  • Jul 31, 2007 3:51pm Jul 31, 2007 3:51pm
where the **** is auslanco? LOL
price is going a little up. because it thinks auslanco is coming back to the thread soon..
  • #2,243
  • Jul 31, 2007 3:53pm Jul 31, 2007 3:53pm
It looks like the selling has stopped for now - I don't think it will shoot up right away - people are scared after a fall like this and market has to prove itself by staying near the bottom for a while and building base before longs are attracted - it could go up to the previous level, but it will take time
  • #2,244
  • Jul 31, 2007 3:54pm Jul 31, 2007 3:54pm
I am currently short. SL 241.38. TP 238.91
Gone to a better place
  • #2,245
  • Jul 31, 2007 3:55pm Jul 31, 2007 3:55pm
Ask yourself why do you set a stop loss. I set a stoploss on every trade except GBPJPY long. If that stoploss gets hit so be it that means that I got in at the wrong price and probably missed something in the charts. I'm not a fundamental trader it screws up my trading. If I'm around when the stop gets hit I look at the levels and try to figure out where I went wrong and to reevaluate the situation. Occasionally my stop will get triggered and it will turn right there on the button and go to my TP and when that happens
1) I'm pi$$ed at the broker for taking me out then I realise OOps I should have set it lower.
2) I'm a dumba$$ for setting my stop there.

Once in awhile fundamentals will take out my stoploss but technicals rule the forex charts and after the fundamentals have done their thing the technicals kick back in and do what they are supposed to do.
This is why when Auslanco trades the news he knows that the initial knee jerk reaction is based on fundamentals and after a spell tech return and kick yenbutt or whoever elses butt is in the way

But anyway Stops are for stopping you from losing your entire account in one trade . Use them and learn to love them. They keep you in the game.
  • #2,246
  • Jul 31, 2007 3:56pm Jul 31, 2007 3:56pm
Hey what are you guys doing with the G/J right now??? I got stopped out of my positions while I was gone today. Decent losses but oh well its to be expected sometimes.

You all thinking short or long and what kind of prices?
Craazy
  • #2,247
  • Jul 31, 2007 3:57pm Jul 31, 2007 3:57pm
Guys, Asia has started their servers and in 5 minutes they will puke fire at this thing.

Am still short to 239.50.
  • #2,248
  • Jul 31, 2007 3:58pm Jul 31, 2007 3:58pm
Quoting Se[V]eN

did auslanco wake up late today?

I think we need to give some time for Auslanco.
I think he is too tired this several days... Yeah, i see all the time, he try to help us as could as he can and will all those who bothering him... I'll be a frightfully tired to do that. He also a human... Give him a break and he'll come again with a fresh mind...

He truly have a great indicator and analysis...
  • #2,249
  • Jul 31, 2007 4:03pm Jul 31, 2007 4:03pm
Quoting keramikus
they will puke fire at this thing.

.
Gone to a better place
  • #2,250
  • Jul 31, 2007 4:07pm Jul 31, 2007 4:07pm

alright sorry..hey u a guy or a girl anyway?..ur name sound like a girl..
asian girl maybe..plus pop up at this gnt also..am i rite?

Quoting Ryurina
I think we need to give some time for Auslanco.

Quoting Ryurina
I think he is too tired this several days... Yeah, i see all the time, he try to help us as could as he can and will all those who bothering him... I'll be a frightfully tired to do that. He also a human... Give him a break and he'll come again with a fresh mind...

He truly have a great indicator and analysis...
"Analysis Is Hard But Trade Is Easy"
  • #2,251
  • Jul 31, 2007 4:12pm Jul 31, 2007 4:12pm
I am surprised to see so many people long? On my charts most of the indicators are pointing south on almost all TF. Momentum down, Relative strength slightly down and most of MACD down.

Is it just because you see a strong support at 240?
{ Link Removed }
  • #2,252
  • Jul 31, 2007 4:12pm Jul 31, 2007 4:12pm
Quoting bballfan31
Ask yourself why do you set a stop loss. I set a stoploss on every trade except GBPJPY long. If that stoploss gets hit so be it that means that I got in at the wrong price and probably missed something in the charts. I'm not a fundamental trader it screws up my trading. If I'm around when the stop gets hit I look at the levels and try to figure out where I went wrong and to reevaluate the situation. Occasionally my stop will get triggered and it will turn right there on the button and go to my TP and when that happens
1) I'm pi$$ed at the broker for taking me out then I realise OOps I should have set it lower.
2) I'm a dumba$$ for setting my stop there.

Once in awhile fundamentals will take out my stoploss but technicals rule the forex charts and after the fundamentals have done their thing the technicals kick back in and do what they are supposed to do.
This is why when Auslanco trades the news he knows that the initial knee jerk reaction is based on fundamentals and after a spell tech return and kick yenbutt or whoever elses butt is in the way

But anyway Stops are for stopping you from losing your entire account in one trade . Use them and learn to love them. They keep you in the game.
Learn about stop hunting - we human have a habit of rounding numbers off - so when setting stoploss most people pick even numbers - more stop loss is set 1, 2, or 3 pips below or above 00 number 240.00 for an example - this is leagal and a way for the big boys to eliminate weak longs. from 15 pips above 00 to 15 pips below (ie 240.85 - 240.15) is a high probability area, meaning if price enters this area it will probably go through thw whole range before turning around - but this is only true when going with the trend -
bottom line it is smart to keep your sl away from everyone else'- for the simple fact of domino effect - think about it if everyone sets SL in the same area - one will trigger the next and the next and so on - that's why we see big 40-50 pip drop within a few seconds sometines.
  • #2,253
  • Jul 31, 2007 4:15pm Jul 31, 2007 4:15pm
ok.. while auslanco sleeps... I'm not auslanco.. but I'm going to try....

D1: I see.. daily momentum stopped down.. horizontal.. and selling stopped. Absolute strength red line crossed the dotted red.. time to blue to start climbing..

H4: still down trend... and strength.... don't open long now.... Momentum horizontal.. wait... has to retrace up to 5SMA
H1: strength: selling stopped... same as D1. momentum horizontal.. wait... had a retrace up... still down trend...
M30: no more selling... Momentum UP... let's hope this builds all the higher TF's that are waiting...
Attached Image (click to enlarge)
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  • #2,254
  • Jul 31, 2007 4:16pm Jul 31, 2007 4:16pm
[quote=digitizer123;1518389]... more stop loss is set 1, 2, or 3 pips below or above 00 number 240.00 for an example - this is leagal and a way for the big boys to eliminate weak longs. from 15 pips above 00 to 15 pips below (ie 240.85 - 240.15)... quote]




Bang on
  • #2,255
  • Jul 31, 2007 4:16pm Jul 31, 2007 4:16pm
Well its been 3 days now that this thread has been in motion and there are over 2250 post already.

And during the process of three days, we have seen a total of 624 cumulitive pips.

We are now right back where we started, the middle of the entire range from sunday till now 240.59

We also are at a 38.2 Retrace from the number of Post to the Pip movement the past three day.

In all this, there were great profits and losses to be made.

And to realize we have made a complete circle of the highs and lows and have found ourself nowhere yet.

LOL

You gotta love this game.
  • #2,256
  • Jul 31, 2007 4:17pm Jul 31, 2007 4:17pm
Quoting kevinsw
Well here is what I see, tell me how close I am on this please.

1. Dow took a dump (GBP/JPY should go short)
2. 1HR candle opened outside the channel showing short.
3. 4HR candle is working outside of the chanle on the short side.

If the 4hr opens outside the channel I should go short. Right?

Agreed, and we have another hour to see how the market handles the 4HR candle. If it closes on or near the open ~240.60 a doji is formed and could signal a directional change or uncertainty.

Since it has moved down ~20 pips from that point and should it continues further with any commitment in the next hour then that is further indication that this draw down may continue. Anything could happen in the next hour.

I think "A" would hold off any further decision until that 4HR candle develops and fully expresses itself. It holds the key.

A lot of "if's", "could's" and "may's"... anything more than that is purely misleading.

Still room for "hope".

I hope it closes well below 240.40 - 240.20

Dr. D.
  • #2,257
  • Jul 31, 2007 4:19pm Jul 31, 2007 4:19pm
[quote=mudskipper;1518392]
Quoting digitizer123
... more stop loss is set 1, 2, or 3 pips below or above 00 number 240.00 for an example - this is leagal and a way for the big boys to eliminate weak longs. from 15 pips above 00 to 15 pips below (ie 240.85 - 240.15)... quote]




Bang on
What is this ?? I am not familiar with this term
  • #2,258
  • Jul 31, 2007 4:19pm Jul 31, 2007 4:19pm
oh.. I forgot my conclusion.... is.. we are ranging for a while.. waiting for tokyo open
  • #2,259
  • Jul 31, 2007 4:20pm Jul 31, 2007 4:20pm
You're right Se[V]eN...

By the way, maybe the bear has return....
Luckily, i moved up my SL, and it hit my trade with some profit, remember we are on downtrend. So anything could happen...

Hope today we could cover our loss.
Happy Trading Day...
  • #2,260
  • Jul 31, 2007 4:26pm Jul 31, 2007 4:26pm
[quote=bballfan31;1518397]
Quoting mudskipper

What is this ?? I am not familiar with this term
Do you mean "Bang on"? I think he means "right on" but he is probably british or aussie
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