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

  • #5,601
  • Aug 9, 2007 9:40am Aug 9, 2007 9:40am
Quoting markam
With dow making wild, unpredictable swings, there is no way you can trade GJ right now.
Thanks, that is a good advice.
  • #5,602
  • Aug 9, 2007 9:40am Aug 9, 2007 9:40am
Very risky, it's up to you if you want to lose pips

I longed now, TP 242.70
Trade what you see, not what you think.
  • #5,603
  • Aug 9, 2007 9:47am Aug 9, 2007 9:47am
Quoting karmostaji
Very risky, it's up to you if you want to lose pips

I longed now, TP 242.70
Long because GJ just cross over Fibo 23.60% at H4 chart and target at Fibo 38.2%. right?
New Forex Trader
  • #5,604
  • Aug 9, 2007 9:47am Aug 9, 2007 9:47am
Quoting karmostaji
Very risky, it's up to you if you want to lose pips

I longed now, TP 242.70
Your 50% fibo, 240.80 maybe right, now.
  • #5,605
  • Aug 9, 2007 9:49am Aug 9, 2007 9:49am
Quoting teekee
Long because GJ just cross over Fibo 23.60% at H4 chart and target at Fibo 38.2%. right?
it has to close above 23.6 first then, becareful but I keep some trades for longer terms, I've got enough cushion and I risk 1% per trade only
Trade what you see, not what you think.
  • #5,606
  • Aug 9, 2007 9:50am Aug 9, 2007 9:50am
I've got positions both ways, hedging basically

If you don't know what you are doing, becareful.. no need to lose pips
Trade what you see, not what you think.
  • #5,607
  • Aug 9, 2007 9:53am Aug 9, 2007 9:53am
Quoting trader8686
Next is 4H 5 SMA @ 241.71
Not sure where you got your number from but the 4H Chart clearly shows the 5SMA at around 242.21.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 43 KB
  • #5,608
  • Aug 9, 2007 9:54am Aug 9, 2007 9:54am
hi, karmo, where is your entry for your hedging?
  • #5,609
  • Aug 9, 2007 10:00am Aug 9, 2007 10:00am
Quoting my2buoys
Not sure where you got your number from but the 4H Chart clearly shows the 5SMA at around 242.21.

M2B
You got it, right. VT is 242.21.
Sorry, my MT4 has different number.
  • #5,610
  • Aug 9, 2007 10:03am Aug 9, 2007 10:03am
As a newbie I am wondering what sort of activity (based on the history of this 400/500 range swings during the past 4/5 days) would swing this back in the upward direction.

By the way, I happen to ride some of this recent cycle (upword and downward swings) in multiple hops on and off. I rode about 300 pips of the total 400 pips slide in three hops (however, I happen to lose about 100 pips in one of the hops when it went back from 241 to 242). So a net 200. Thought I'd share with you all.

Thank you.

~G.
  • #5,611
  • Aug 9, 2007 10:06am Aug 9, 2007 10:06am
Quoting AlphaGA
As a newbie I am wondering what sort of activity (based on the history of this 400/500 range swings during the past 4/5 days) would swing this back in the upward direction.

By the way, I happen to ride some of this recent cycle (upword and downward swings) in multiple hops on and off. I rode about 300 pips of the total 400 pips slide in three hops (however, I happen to lose about 100 pips in one of the hops when it went back from 241 to 242). So a net 200. Thought I'd share with you all.

Thank you.

~G.
Look at the bullish channel in the chart in post #5607.

M2B
  • #5,612
  • Aug 9, 2007 10:18am Aug 9, 2007 10:18am
Pin bar is forming on 4H Any comment Mr Karmostaji?
  • #5,613
  • Aug 9, 2007 10:23am Aug 9, 2007 10:23am
Quoting karmostaji
Very risky, it's up to you if you want to lose pips

I longed now, TP 242.70
I think our trading style is very close to the same I know we were the only ones shorting at 244. good job my friend!
  • #5,614
  • Aug 9, 2007 10:26am Aug 9, 2007 10:26am
Quoting The_Genious
Pin bar is forming on 4H Any comment Mr Karmostaji?
It's best to wait unitl it is closed and then see what we have, 'A' said earlier that a retest of the low is possible.. that may come first before we head upwards
Trade what you see, not what you think.
  • #5,615
  • Aug 9, 2007 10:27am Aug 9, 2007 10:27am
Quoting bmwboyee
I think our trading style is very close to the same I know we were the only ones shorting at 244. good job my friend!
Thanks bmwboyee, you too

I'm feeling tired after all this trading, weekend will be nice
Trade what you see, not what you think.
  • #5,616
  • Aug 9, 2007 10:29am Aug 9, 2007 10:29am
acording to bo7a I think it is respecting the channel and will go up upto 244

see the chart bellow

http://www5.0zz0.com/2007/08/09/15/72426597.gif
  • #5,617
  • Edited 10:51am Aug 9, 2007 10:40am | Edited 10:51am
Quoting karmostaji
It's best to wait unitl it is closed and then see what we have, 'A' said earlier that a retest of the low is possible.. that may come first before we head upwards
Karmo,

I think we are still in a retracement to your 50% of fibo line (240.80 you mentioned).
  • #5,618
  • Aug 9, 2007 10:47am Aug 9, 2007 10:47am
Quoting markam
With dow making wild, unpredictable swings, there is no way you can trade GJ right now.
That is exactely my opinion, I think I won't trade GJ during US stock market session ever, it's too unpredictable even with A's strat, if you can afford a big SL it's ok but if not..., the best you can do is wait for the session to end and go from there, only if we had some technical analisys done to the DOW we could change something
  • #5,619
  • Aug 9, 2007 10:54am Aug 9, 2007 10:54am
Quoting ovidiu
That is exactely my opinion, I think I won't trade GJ during US stock market session ever, it's too unpredictable even with A's strat, if you can afford a big SL it's ok but if not..., the best you can do is wait for the session to end and go from there, only if we had some technical analisys done to the DOW we could change something
Hi ovidu... It was nothing unpredictable.... when it was shooting down, around 239.20 the 15 min SI crossed up.. then we knew there was a 50% retracement.. then the price went up and completed the retracement and now it's coming down to re-test the Low's.. .. This is easier to predict than my wife
  • #5,620
  • Aug 9, 2007 10:55am Aug 9, 2007 10:55am
any MT4 platforms that have DOW charts? I'll look into analyzing it for next week
Trade what you see, not what you think.
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