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

  • #4,421
  • Aug 7, 2007 4:58am Aug 7, 2007 4:58am
Quoting MikeW
This is a demo account isn't it?
No, live account.
  • #4,422
  • Aug 7, 2007 4:58am Aug 7, 2007 4:58am
How much current Foot and mouth outbreak can effect UK economy?. Anyone from UK better answer this

Is it responsible for current selling pressure on GBP?
  • #4,423
  • Aug 7, 2007 5:00am Aug 7, 2007 5:00am
Quoting auslanco
I'm talking about the news spike.. then it will retrace to the 4hr trend.
ok I understand now...
there is a high probability that after news spike, price will resume the trend if it doesn't change the trend.
  • #4,424
  • Aug 7, 2007 5:00am Aug 7, 2007 5:00am
Quoting trader8686
My God, I am stucked with my short, now the price is flying up.
Aus, how do I close my hedging short?
Can you help? 240.94
Just have 100 pip SL for both and 200 pip TP
  • #4,425
  • Aug 7, 2007 5:02am Aug 7, 2007 5:02am
Quoting emda
ok I understand now...
there is a high probability that after news spike, price will resume the trend if it doesn't change the trend.
Thats correct.. use the 1hr momentum indicator to catch the turn around aftre the spike
  • #4,426
  • Aug 7, 2007 5:03am Aug 7, 2007 5:03am
Quoting auslanco
Just have 100 pip SL for both and 200 pip TP
Is that a rule for closing the hedging pair or what?
  • #4,427
  • Aug 7, 2007 5:11am Aug 7, 2007 5:11am
Quoting trader8686
No, live account.
Ouch!

You have two choices:

1. close one (or both) of your trades now.

2. Read the market and close the long when it has reached the top and is about to drop and then close the short when it has reached the bottom and is about to turn up again.

Sounds simple doesn't it.

Now you are going to have to decide where the tops and bottoms are and are they going to be in a good spot to give you profit.

You should practice hedging on a demo first.

Mike
  • #4,428
  • Aug 7, 2007 5:13am Aug 7, 2007 5:13am
Quoting MikeW
Ouch!

You have two choices:

1. close one (or both) of your trades now.

2. Read the market and close the long when it has reached the top and is about to drop and then close the short when it has reached the bottom and is about to turn up again.

Sounds simple doesn't it.

Now you are going to have to decide where the tops and bottoms are and are they going to be in a good spot to give you profit.

You should practice hedging on a demo first.

Mike

or 3. You can do what Auslanco said.

  • #4,429
  • Aug 7, 2007 5:16am Aug 7, 2007 5:16am
Quoting Se[V]eN
[left]look at UJ GU and GJ 1 hour candle u will get the answer
Hi seven, i dont have a trade going at the moment, but what do you mean by look at UJ GU and GJ? can you please elaborate what to look for and then a conclusion. sory to sound nieve, but i am still learning the ropes and i will apreciate anything you can bring to my atention.
thanks in advanced....Bill77
  • #4,430
  • Aug 7, 2007 5:36am Aug 7, 2007 5:36am

at the meantime UJ and GJ looks like to going up but GU is dragging GJ a little down...soon if GU 1 hour candle forming engulfing pattern and we will hav GU UJ and GJ on the same direction...so its a clear direction...somehow i will only make position after nonfarm report later..just an opinion...

Quoting bill77
Hi seven, i dont have a trade going at the moment, but what do you mean by look at UJ GU and GJ? can you please elaborate what to look for and then a conclusion. sory to sound nieve, but i am still learning the ropes and i will apreciate anything you can bring to my atention.

Quoting bill77
thanks in advanced....Bill77
"Analysis Is Hard But Trade Is Easy"
  • #4,431
  • Aug 7, 2007 5:42am Aug 7, 2007 5:42am
Quoting MikeW
or 3. You can do what Auslanco said.

Thanks to you all, that was all very helpful!
  • #4,432
  • Aug 7, 2007 6:17am Aug 7, 2007 6:17am
*&%^$( ????
Attached Image
  • #4,433
  • Aug 7, 2007 6:19am Aug 7, 2007 6:19am
Aus,

That is a funny picture.
When did you say the US news going to be?
  • #4,434
  • Aug 7, 2007 6:21am Aug 7, 2007 6:21am
1hr: crossed down
4hr: crossed up

No dircetion >>>Ranging
Attached Image (click to enlarge)
Click to Enlarge Name: ranging.jpg Size: 96 KB
  • #4,435
  • Aug 7, 2007 6:24am Aug 7, 2007 6:24am
Quoting trader8686
Aus,

That is a funny picture.
When did you say the US news going to be?
I will tell you around 8.15EST
  • #4,436
  • Aug 7, 2007 6:25am Aug 7, 2007 6:25am
Hi,

I am short GBP at 2.0270. Any comment
  • #4,437
  • Aug 7, 2007 6:27am Aug 7, 2007 6:27am
Quoting auslanco
I will tell you around 8.15EST
Are you going to trade the US news on GBPUSD pair again?
  • #4,438
  • Aug 7, 2007 6:27am Aug 7, 2007 6:27am
There seems to be pretty good support at the 50 Fibo area around 240.35. Also, MACD is doing what Peter Bain refers to as 'neutralizing', meaning that MACD is reverting to the 0 line while price basically consolidates in anticipation of its next move. In this case it should be upward but with GBP/JPY you never can tell.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 30m.jpg Size: 43 KB
  • #4,439
  • Aug 7, 2007 6:29am Aug 7, 2007 6:29am
Still 70% of the chance this may break out upwards.
  • #4,440
  • Aug 7, 2007 6:33am Aug 7, 2007 6:33am
Uptrend is also my profile has for it.
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