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

  • #2,801
  • Aug 1, 2007 10:46am Aug 1, 2007 10:46am
Quoting ovidiu
After all the talk earlier and consulting my charts I think:

BUY @ 241.7 tp 242.7 sl 240.7 is very likely, what do you think?
I know trade at my own risk, but I want your opinion.
Are you sure you want to buy at resistance ?
  • #2,802
  • Aug 1, 2007 10:48am Aug 1, 2007 10:48am
Quoting karmostaji
we are ranging between 240.27 and 241.70 based on 1H
karmostaji,

I guess now that the 4H can't break out the trend, we need to short.

How do we judge when to short? and what is out target?

Thank you for your coaching.
  • #2,803
  • Aug 1, 2007 10:48am Aug 1, 2007 10:48am
Quoting bballfan31
Technically this pair is playing out beautifully ( You just have to have the right MA's) I have called last two bottoms and gave the next top . These are my actual trades

The Yen is gaining strength because traders are letting go of their longs to minimize their risks (called risk aversion) this will all blow over soon enough and we will get back to normal

what MAs are you using and time frame u using pls
THE TREND IS UR FRIEND
  • #2,804
  • Aug 1, 2007 10:59am Aug 1, 2007 10:59am
Quoting trader8686
karmostaji,

I guess now that the 4H can't break out the trend, we need to short.

How do we judge when to short? and what is out target?

Thank you for your coaching.
no signs of shorts, I'm holding onto my long

patience is a virtue
Trade what you see, not what you think.
  • #2,805
  • Aug 1, 2007 11:01am Aug 1, 2007 11:01am

karmostaji....what is 4 hour situation right now?

"Analysis Is Hard But Trade Is Easy"
  • #2,806
  • Aug 1, 2007 11:02am Aug 1, 2007 11:02am
Quoting Se[V]eN

karmostaji....what is 4 hour situation right now?

242.70 is possible with the help of UJ, but we must be patient and not panic everytime price goes up and down
Trade what you see, not what you think.
  • #2,807
  • Aug 1, 2007 11:05am Aug 1, 2007 11:05am
I think at the moment the 100SMA on the daily chart is the resistance @241.9++...if the candle breaks above that then it'll be a good sign to go long....
  • #2,808
  • Aug 1, 2007 11:08am Aug 1, 2007 11:08am
Quoting xlr8
I think at the moment the 100SMA on the daily chart is the resistance @241.9++...if the candle breaks above that then it'll be a good sign to go long....
Daily is above 100SMA but to wait for that to close, the price will jump up and down many times
  • #2,809
  • Aug 1, 2007 11:11am Aug 1, 2007 11:11am
Quoting ovidiu
Daily is above 100SMA but to wait for that to close, the price will jump up and down many times
Oh man..is it already above the 100sma? I've really have to get my MT4 in sync with everyone elses....
  • #2,810
  • Aug 1, 2007 11:13am Aug 1, 2007 11:13am
Quoting xlr8
Oh man..is it already above the 100sma? I've really have to get my MT4 in sync with everyone elses....
It's not, daily 100SMA is at 242.04
Trade what you see, not what you think.
  • #2,811
  • Aug 1, 2007 11:15am Aug 1, 2007 11:15am
Quoting ovidiu
Daily is above 100SMA but to wait for that to close, the price will jump up and down many times
How much longer we will see that "jump up and down many times"?
  • #2,812
  • Aug 1, 2007 11:15am Aug 1, 2007 11:15am
Guys...wad im seeing on my charts...
30mins bearish
1 hr bearish
4hrs flat lining at the moment....

Anyone else see that or is my eyesight playing tricks on me?
  • #2,813
  • Aug 1, 2007 11:18am Aug 1, 2007 11:18am
Quoting xlr8
Guys...wad im seeing on my charts...
30mins bearish
1 hr bearish
4hrs flat lining at the moment....

Anyone else see that or is my eyesight playing tricks on me?
Looks to be ranging, following US stock market.

Appears to be pin bar forming on daily though.

Maybe one of the more experienced traders can comment on the pin bar formation ?
  • #2,814
  • Aug 1, 2007 11:22am Aug 1, 2007 11:22am
Quoting karmostaji
It's not, daily 100SMA is at 242.04
mine is at 240.25, so I guess my MT is the problem here
  • #2,815
  • Aug 1, 2007 11:24am Aug 1, 2007 11:24am
Where is AUS!!!!!
  • #2,816
  • Aug 1, 2007 11:24am Aug 1, 2007 11:24am
Karmostaji,

do u think is better to go short at 240.50 if breaks the support on 240.70 again?

Thank u
  • #2,817
  • Aug 1, 2007 11:25am Aug 1, 2007 11:25am
Quoting ovidiu
After all the talk earlier and consulting my charts I think:

BUY @ 241.7 tp 242.7 sl 240.7 is very likely, what do you think?
I know trade at my own risk, but I want your opinion.

I think you are right on the break out point, but i wouldn't put in a buy order there until there was a confirmation it could be just a fake out.

I think you would be safer to let it breakout from the resistance.. retrace then take it when it makes the new high..

I think quite a few people like to see the full hour bar finish outside before entering..

Or zoom into a shorter timeframe.. 15 and look for the retrace and new high on that timeframe.

I know there are some traders who know this pair so well that they can be very agressive on their entries.. i guess their opinion would be cool.

Not a lot of volume out there at the moment .. so it would be great to hear how the other guys judge their entry point..
  • #2,818
  • Aug 1, 2007 11:33am Aug 1, 2007 11:33am
GJ is eating up the accounts , don't play now..250 PIPS up and down in one day..you must be kidding...its the interbank who is doing the trick on day traders...be carefulll
  • #2,819
  • Aug 1, 2007 11:36am Aug 1, 2007 11:36am

aus is at the right of my avatar

Quoting chonpz
Where is AUS!!!!!

"Analysis Is Hard But Trade Is Easy"
  • #2,820
  • Aug 1, 2007 11:39am Aug 1, 2007 11:39am
Quoting spiderforex
GJ is eating up the accounts , don't play now..250 PIPS up and down in one day..you must be kidding...its the interbank who is doing the trick on day traders...be carefulll
heh yes... that's why they want little new investors to play forex... to eat them all...
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