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

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

#5,281
Aug 9, 2007 1:31am Aug 9, 2007 1:31am

Se[V]eN
| Joined Sep 2006 | Status: Im A Lucky Hyena | 449 Posts

agreed with u dude...no news is good say aus...the important thing is 4H trend...hell yeah !!!

Quoting VishalJ

Disliked

If the GBP news is bad.. it might just cause GJ to retrace the distance we've been waiting for.. and then shoot back up eventually. Would be a good chance to get in.. unless the report is really horrible.

Ignored

"Analysis Is Hard But Trade Is Easy"

#5,282
Aug 9, 2007 1:35am Aug 9, 2007 1:35am

auslanco
Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts

London open and and the news release may push the GJ down for bout 100 pips.. dont get too carried away with the shorts.. 4hr trend is up. so grab what ever you can and wait for the 1hr trend reversal to the north.

#5,283
Aug 9, 2007 1:38am Aug 9, 2007 1:38am

mcmartins
| Joined Jun 2007 | Status: ...We all are not alike... | 121 Posts

Quoting auslanco

Disliked

it's the 4hr 1hr combination. simple theaory. Cant predecit anything at the moment... no market movement and indicators are lagging.. I'm waiting until some volume picks up. Most probably there will be a upside break out again.. but there'salso a big retracemnt due from the last night rally.

Ignored

if i may ask, presently. the trade i have is fluctuating in between my buy and sell for like 25+ and is not getting to my target points. Ans is on a short position.what do you think i should do about that? do i close the the short position and open a better position? And what is the news you are talking about?

#5,284
Aug 9, 2007 1:39am Aug 9, 2007 1:39am

new_trader
| Joined Aug 2007 | Status: Trader | 51 Posts

both EJ & UJ are falling at the moment.

#5,285
Aug 9, 2007 1:39am Aug 9, 2007 1:39am

mrsteckman
| Joined Jan 2007 | Status: Trader | 32 Posts

I think that if 243.40 breaks, we might be in for a freefall to the 242.70 area. Karmo, there still is hope afterall. I starting to think 243.40 is key to your target area. There is also a weekly pivot at 242.50 providing some support

#5,286
Aug 9, 2007 1:44am Aug 9, 2007 1:44am

VishalJ
| Joined Sep 2006 | Status: Trader | 1,311 Posts

Right Aus, I expect GJ to fall .. trade balance should come out bad.. if you logically consider that exports have reduced due to higher pound levels.

Now the point to take into consideration is where to get in, once GJ falls. It may fall 100 pips.. it may fall 200 pips. Your expertise will come in handy at that time.. I always enter at the wrong time lol.

#5,287
Aug 9, 2007 1:44am Aug 9, 2007 1:44am

Bullrich
| Joined Jan 2007 | Status: Trader | 6 Posts

hello,
my feeling says to me that GJ would go back to there where its coming from -> 251.xx
if you hold a mirror at the middle of this 4h bottom, its possible.

#5,288
Aug 9, 2007 1:47am Aug 9, 2007 1:47am

auslanco
Joined Feb 2007 | Status: Trade @ your own risk | 6,628 Posts

Quoting mcmartins

Disliked

if i may ask, presently. the trade i have is fluctuating in between my buy and sell for like 25+ and is not getting to my target points. Ans is on a short position.what do you think i should do about that? do i close the the short position and open a better position? And what is the news you are talking about?

Ignored

Sorry mate, I dont want to make any trade calls. Hope you understand

The UK news (trade balance)@ 8.30GMT

#5,289
Aug 9, 2007 1:49am Aug 9, 2007 1:49am

new_trader
| Joined Aug 2007 | Status: Trader | 51 Posts

Quoting VishalJ

Disliked

Now the point to take into consideration is where to get in, once GJ falls. It may fall 100 pips.. it may fall 200 pips. Your expertise will come in handy at that time.. I always enter at the wrong time lol.

Ignored

You patiently wait for a dip. No momentum no breakouts trades.

#5,290
Aug 9, 2007 1:49am Aug 9, 2007 1:49am

brok
| Joined Aug 2006 | Status: Trader | 414 Posts

Quoting auslanco

Disliked

mY si shows the 1hr SI is crossed downwards.. but still above the 50 line. This is a indication of a retracement. I wouldnt go long if the 1hr SI cross upwards again without touching the 50 line... even if I do I will be very cautious since 1hr has not gone for the full retracement. This is where we went wrong on Monday.. when we went short before the 1hr touched the 50 line and crossed downwards.
If the 1hr SI touch the 50 line and cross upwards again.. that means the full retracement is completed and it's ready for a another breakout of 300 pips this time since we have the daily support from today..

Ignored

This really cleared things out...