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

  • #5,521
  • Aug 9, 2007 8:03am Aug 9, 2007 8:03am
Quoting kevinsw
Ummm I just Have to ask why karm? it has followed the dow in direction much I thought.
I mean't the DOW will go up today, I just can't imagine this beast going lower than this at the moment..
Trade what you see, not what you think.
  • #5,522
  • Aug 9, 2007 8:03am Aug 9, 2007 8:03am
Quoting TradeStar
Hi K,

What is this 239.20. In my chart doesn't look like any Fib number. Clearly I am missing something. Also, are you saying GU going down is driving this pair down.

Thanks a lot

i believe, GU dwn, GJ goin dwn too provided UJ maintain or go dwn...
  • #5,523
  • Aug 9, 2007 8:04am Aug 9, 2007 8:04am
Quoting trader8686
Anyone has the Dow pre-opening?Not sure.

U.S. Index Futures, European Stocks Drop; BNP, Citigroup Fall
U.S. stocks are looking lower on news that the Federal Reserve added $12 billion in temporary reserves to the banking system.
  • #5,524
  • Aug 9, 2007 8:04am Aug 9, 2007 8:04am
I'm expecting retracement in 1-2-3 hours or so, so becareful whoever is short
Trade what you see, not what you think.
  • #5,525
  • Aug 9, 2007 8:04am Aug 9, 2007 8:04am
Aus.

The ride over the last few days has been pretty exciting to say the least.Thank you for your time and wisdom. Id say there are a few excited traders in this thread.

Thanks mate
  • #5,526
  • Aug 9, 2007 8:05am Aug 9, 2007 8:05am
will tis pair stop at 238.55 for a rest?
  • #5,527
  • Aug 9, 2007 8:05am Aug 9, 2007 8:05am
Quoting karmostaji
I mean't the DOW will go up today, I just can't imagine this beast going lower than this at the moment..
Same feeling.. DOW futures point sharply lower.. but it might pick up later on during the day.. who knows. Then again, if it decides to keep dropping.. we might see 237
  • #5,528
  • Aug 9, 2007 8:07am Aug 9, 2007 8:07am
Quoting karmostaji
Thanks for the kind words gentlemen

still waiting for the beast to touch 239.20, with the help of GU

Patience is the key, don't let the market play with your head

Kar, u close out ur short?
  • #5,529
  • Aug 9, 2007 8:09am Aug 9, 2007 8:09am
Quoting Holypendant
Kar, u close out ur short?
Yep, TP hit.. profit booked, satisfied

waiting for GU to hit 0180
Trade what you see, not what you think.
  • #5,530
  • Aug 9, 2007 8:09am Aug 9, 2007 8:09am
Auslanco,

You haven't answer my question, yet.
How do we look at Momentum for retracement, like 30 min chart in this trade ?

Is it the small up hill, reached 2.050?

Thanks.
  • #5,531
  • Aug 9, 2007 8:09am Aug 9, 2007 8:09am
Quoting karmostaji
Yep, TP hit.. profit booked, satisfied

waiting for GU to hit 0180
so u held no more position on tis pair?
  • #5,532
  • Aug 9, 2007 8:11am Aug 9, 2007 8:11am
I unloaded my position... yesterday support... we may see a retracemnet.. Be careful if you are short
  • #5,533
  • Aug 9, 2007 8:11am Aug 9, 2007 8:11am
Quoting Holypendant
so u held no more position on tis pair?
0 positions

greed kills a trader and eats a traders account
Trade what you see, not what you think.
  • #5,534
  • Aug 9, 2007 8:13am Aug 9, 2007 8:13am
Quoting trader8686
Auslanco,

You haven't answer my question, yet.
How do we look at Momentum for retracement, like 30 min chart in this trade ?

Is it the small up hill, reached 2.050?

Thanks.

I have answered this question over 100 times bro.. They all on my post.. too hard to explain in 1 post... Go through posts this weekend.. You will learn lots of other things too
  • #5,535
  • Aug 9, 2007 8:14am Aug 9, 2007 8:14am
I'm studying GU as well....

The trend is still brearish (30min 1H & 4H). Hoping for a retracement around 2.0245 before I go short. Please correct me if i'm wrong.

Thanks
  • #5,536
  • Aug 9, 2007 8:16am Aug 9, 2007 8:16am
That's how i found 239.20 like K , but maybe i used a different technique
I did a projection from the highest point of the trendline .
Then i projected the difference between the highest point and the trendline (244.05-241.47 = 2.58)

When it broke the trendline , i took the close of the bar that broke the trendline (circle) and i did 241.76-2.58 = 239.18

It may be a little unclear so just tell me ^^

Attached Image
COT: The precious data ignored
  • #5,537
  • Aug 9, 2007 8:16am Aug 9, 2007 8:16am
Quoting hycebee
I'm studying GU as well....

The trend is still brearish (30min 1H & 4H). Hoping for a retracement around 2.0245 before I go short. Please correct me if i'm wrong.

Thanks
I don't really concentrate on GU much, it's more of a side business with GU LOL, I mainly concentrate on the beast GJ

but 0180 is coming within this hour, the train has left you, sorry
Trade what you see, not what you think.
  • #5,538
  • Aug 9, 2007 8:18am Aug 9, 2007 8:18am
Hi

I am new to forex trading and learning everyday from this thread. Can someone please let me know if there is a negative or positive correlation to the DOW and GU? If the DOW goes down is it likely for GU to go down or does the opposite usually occur. Thanks

SW
The Will is Greater than the Skill
  • #5,539
  • Aug 9, 2007 8:22am Aug 9, 2007 8:22am
Danny,

Thanks for contributing and for your help! it is also very much appreciated.



Frank


Quoting amsterdanny
Daily,Longer term trend: UP
As long 238.62 is not violated. This point will be revised when a new high will be made. When 238.62 is violated the Longer term trend will be: Down.


4 Hr, Trend: Down.
No near term change expected, except when it suddenly reverses and goes above and beyond 244.00.

1Hr. Trend: Down.
No near term change expected, except when it suddenly reverses and goes above and beyond 244.00

30m. Trend: Down
No near term change expected, except when it suddenly reverses and goes above and beyond 244.00

15m. Trend: Down.
Near term change to up is possible. Trend change i will post as soon as possible.

5m, 1m trend to short to mention in a forum. Moment i post it could be changed.

I am posting this since i am trading my self professionaly for 20+ years. I started in commodities soy and corn. I switched to forex for the better opportunities. I am following Auslanco since the beginning and I must say that i appreciate his insights and agree with his aproach. I also noticed that it is very welcome by new traders that such supporting postings are being made. This is my first attemp to contribute for those who seek second guidance/confirmation for this GJ pair from my way of trading as confirmation tool of Auslanco visions and techniques.
*Trade at your own risk, always. Use S/L you can live with. Use MM to keep alive.

I a not sure if my postings are appropiate and usefull for others. So please let me know. I adapt to it hopefully.
Above targets are for the moment and can be changed when new developments occurs. If this happens I will try posting it.


Cheers,
Danny
  • #5,540
  • Aug 9, 2007 8:26am Aug 9, 2007 8:26am
Karmo - you said you were going to post a chart showing how you got 239.20 for tp - you said it was a trend line. could you please explain and post that chart?
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