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

  • #4,301
  • Aug 7, 2007 12:56am Aug 7, 2007 12:56am
Quoting monarch
You know that we could get rich bro if we actually made our trades from the support to resistance and vice versa.

We could actually take the distance and multiply it by the 38.2 for a safe exit.

So lets say our support is at 237.94 and resistance is 242.81. 487 pips range.

We would take our long from 239.80 (which is about where we entered).

Our exit would then be 240.94, a clear 100 pips after spread and all.

That would be a 38.2% trade of the range, and once we reach the 240.94, will let it spike above towards resistance and then catch the short from 240.94 to target 239.80.

Oh peeps, this is just a play of numbers to keep me busy, and it is not even a trading strategy, but it is fun to poke at this dead cat.

Until we see the stars above or the valley below, lets have fun.

I 'm going to try this Mopnarch.. Thanks.. this price may go down to 240.83. I may buy small lot from that level to T.P 242.58(1st resistance).. What do you think about the levels?
  • #4,302
  • Aug 7, 2007 1:03am Aug 7, 2007 1:03am
Quoting auslanco
I 'm going to try this Mop-narch.. Thanks.. this price may go down to 240.83. I may buy small lot from that level to T.P 242.58(1st resistance).. What do you think about the levels?
Looking on the 30 min, we have support at 240.87 4-5 hours ago, also 240.75 was our closing price on Friday, so that puts this area as important to me.

You can also see a cluster of 240.80 area on 8/1 and 8/2.

Also from the move down at 242.91 to the low at 238.99, we have the 50% fibo at 240.90.

Our median is 240.48, so were sitting below that number, but it should reach upwards to break this here tonight I would think.

HEY "A", I like that MOP-NARCH, where did you get that idea from. LOL
I will have to mop the floor of this trade I hope with my NARCH.

  • #4,303
  • Aug 7, 2007 1:10am Aug 7, 2007 1:10am
For all the pip grabbers trading this system....

What market sessions do you typically watch and trade this?
Sydney, Tokyo, London, NY?

When Are trades usually entered?

Thanks

Zak
  • #4,304
  • Aug 7, 2007 1:11am Aug 7, 2007 1:11am
Japanese Government Leaves Assessment Unchanged In August

Japanese government left its assessment of the economy unchanged in its report for August, released on Tuesday. The government now kept its assessment of the economy unchanged for the ninth consecutive month.

The Cabinet Office repeated the same words of the previous month report, when it assessed the economy in the August report, saying, "It is recovering despite weakness in industrial production in some sectors."

The government's outlook on corporate profits, business investment and private consumption remained unchanged.

The report said that employment situation is improving steadily, though some severe aspects remain. Last time, government said that employment situation is improving "on a broader basis", though some severe aspects remain.

It also changed slightly its outlook on exports saying, "exports is 'increasing moderately' and industrial production is flat. In the previous month, the report said that exports and industrial production are "flat."

"As for short-term prospects, the economic recovery is expected to continue supported by the domestic private demand as high corporate profits feed into the household sector. On the other hand, attention should be given to an effect which developments of oil prices in particular have on both domestic and overseas economies," the report reiterated.


IMF: Japan's monetary policy remains appropriately accommodative, given very muted inflation risks.
IMF: Japan's inflation remains very low, but expected to pick up gradually as the economy operates close to full capacity.
  • #4,305
  • Aug 7, 2007 1:12am Aug 7, 2007 1:12am
Quoting culinarian
For all the pip grabbers trading this system....

What market sessions do you typically watch and trade this?
Sydney, Tokyo, London, NY?

When Are trades usually entered?

Thanks

Zak
I usually find the best trading times when I am asleep or away from the computer, but almost never when I am wanting to trade.
  • #4,306
  • Aug 7, 2007 1:16am Aug 7, 2007 1:16am
Isnt that the way Monarch!!
  • #4,307
  • Aug 7, 2007 1:24am Aug 7, 2007 1:24am
Auslanco, I believe the Aussie interest rate decision should already be priced in (the rate hike) If they don't hike.. it's a different story.

I don't think I'm getting into any GJ trades tonight.. not until tomorrow's US interest rate decision. This pair can either stay boringly stable, or will ride aimlessly..
  • #4,308
  • Aug 7, 2007 1:27am Aug 7, 2007 1:27am
Quoting culinarian
Isnt that the way Monarch!!
Another way that I can get every trade 100% correct is make an entry, and then flip my screen upside down, it always goes the right way then.
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  • #4,309
  • Aug 7, 2007 1:30am Aug 7, 2007 1:30am
  • #4,310
  • Aug 7, 2007 1:30am Aug 7, 2007 1:30am
Quoting monarch
I usually find the best trading times when I am asleep or away from the computer, but almost never when I am wanting to trade.

LOL Ken...just post your schedule and IŽll know when to stay by my screen....glad you had a nice break. http://www.forexfactory.com/images/icons/icon7.gif
Trading Levels with WRBs
  • #4,311
  • Aug 7, 2007 1:31am Aug 7, 2007 1:31am
Quoting monarch
Another way that I can get every trade 100% correct is make an entry, and then flip my screen upside down, it always goes the right way then.
LOL!!! oooo im so with you on that one... if only that really fixed things
  • #4,312
  • Aug 7, 2007 1:31am Aug 7, 2007 1:31am
Quoting culinarian
For all the pip grabbers trading this system....

What market sessions do you typically watch and trade this?
Sydney, Tokyo, London, NY?

When Are trades usually entered?

Thanks

Zak

Usually good trades happens to me In Moscow time when the black money hits the market
  • #4,313
  • Aug 7, 2007 1:31am Aug 7, 2007 1:31am
Thats an excellent idea!! I will mount my monitor on the wall and just give it a spin!
  • #4,314
  • Aug 7, 2007 1:32am Aug 7, 2007 1:32am
Quoting monarch
Another way that I can get every trade 100% correct is make an entry, and then flip my screen upside down, it always goes the right way then.
  • #4,315
  • Aug 7, 2007 1:33am Aug 7, 2007 1:33am
Quoting auslanco
Usually good trades happens to me In Moscow time when the black money hits the market
Not a straight answer in the house tonight!!!!
  • #4,316
  • Aug 7, 2007 1:33am Aug 7, 2007 1:33am
Quoting monarch
Another way that I can get every trade 100% correct is make an entry, and then flip my screen upside down, it always goes the right way then.
humm!!! why didn't I think of that before, would the negative numbers turn to positive also!!!
  • #4,317
  • Aug 7, 2007 1:35am Aug 7, 2007 1:35am
Quoting VishalJ
Auslanco, I believe the Aussie interest rate decision should already be priced in (the rate hike) If they don't hike.. it's a different story.

I don't think I'm getting into any GJ trades tonight.. not until tomorrow's US interest rate decision. This pair can either stay boringly stable, or will ride aimlessly..

Just a thought.. everyone expects the intrerest rate hike.. But the elections are coming up and this interest rate issue is a very heated argument in the political scene right now. May not have a hike tommorrow. If that happens .. bingo. Keep an eye.
  • #4,318
  • Aug 7, 2007 1:36am Aug 7, 2007 1:36am
Quoting culinarian
Not a straight answer in the house tonight!!!!

It can happen anytime..but mainly during the London open to NY close.
  • #4,319
  • Aug 7, 2007 1:39am Aug 7, 2007 1:39am
Quoting Islander
LOL Ken...just post your schedule and IŽll know when to stay by my screen....glad you had a nice break. http://www.forexfactory.com/images/icons/icon7.gif
Good to see you bro, always great to get away.

I would like to make a few thousand tonight before I hit the sack, but it would have to be here before London opens, I am tired.

I see a nice pennant on the 5 minute, were getting very near a good breakout, just don't get trapped in the headfake, we know the London boys likes to get everyone in, then flip around on us.

Lets get ready to trade boys, 20 minutes till London calls.

Ken
  • #4,320
  • Aug 7, 2007 1:39am Aug 7, 2007 1:39am
Quoting auslanco
Usually good trades happens to me In Moscow time when the black money hits the market
thats not true, Moscow banks has enough clear funds, not black money...
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