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

  • #6,181
  • Aug 10, 2007 6:25am Aug 10, 2007 6:25am
Quoting Richardj
I know it sounds crazy... but my weekly charts repeatedly show 195.00 as the target.
fine with me lol
  • #6,182
  • Aug 10, 2007 6:31am Aug 10, 2007 6:31am
Man this is nuts.. I predicted housing would crash 2 years ago.. everyone used to laugh at me. My friend who risked his a$$ to buy a house for $450,000 (he thought it would be 1 million in 5 years.. like.. what?!) is now facing foreclosure.

It's ridiculous how amazingly idiotic lending companies and banks are. You would think professionals manage them. now look at what this subprime crisis is spreading to - almost every segment is getting affected.

Edit : While Im enjoying trading GJ as it falls.. I can't help but think of all the people who took risky loans, and now they're going to have to face higher bills (LIBOR rate just went up.. again)
  • #6,183
  • Aug 10, 2007 6:34am Aug 10, 2007 6:34am
Short @ 23735 SL=23800 TP=23675
  • #6,184
  • Aug 10, 2007 6:38am Aug 10, 2007 6:38am
Quoting karmostaji
I shorted @ 237.86

I will short again once it retraces back to 5SMA 1H chart
Trading should be simple and stupid like you said a couple of days ago.
Shorting after at 5SMA H1 seems the most logical thing to do right now.
It was a realy good experience just reading the thread after waking up and not going into a trade at the first sign of a sure win.
This time I will stick to my plan even if it drops 1000 pips before that, lol.
And you can notice the nice signature
  • #6,185
  • Aug 10, 2007 6:39am Aug 10, 2007 6:39am
Quoting Mysticdiver
Short @ 23735 SL=23800 TP=23675
Be careful cause you might get stopped at the retrace to 5sma
  • #6,186
  • Aug 10, 2007 6:44am Aug 10, 2007 6:44am
I shorted again at the retrace to 30m 5SMA

becareful
Trade what you see, not what you think.
  • #6,187
  • Aug 10, 2007 6:47am Aug 10, 2007 6:47am
This volatility is unbelievable, but I hope it stays this way. Lots of opportunities to make money.
Period : 26 Months Account Balance : +264% Max DD : 14.2%
  • #6,188
  • Aug 10, 2007 6:49am Aug 10, 2007 6:49am
UJ breaking trendline, if 1h closes below the trendline, we will see more downward.. patience
Trade what you see, not what you think.
  • #6,189
  • Aug 10, 2007 6:51am Aug 10, 2007 6:51am
Quoting karmostaji
I shorted again at the retrace to 30m 5SMA

becareful
So, retracement starts at 15 min touch 5 sma, right?
I may be wroong, but I think I saw it.
  • #6,190
  • Aug 10, 2007 6:53am Aug 10, 2007 6:53am
Quoting trader8686
So, retracement starts at 15 min touch 5 sma, right?
I may be wroong, but I think I saw it.
it depends on how strong the downward move is, sometimes it retraces to 15 5sma, sometimes it goes up till the 1h or 4h 5sma, you will learn it as you trade more, experience

looks like my 4h candle will close below the low we have had for the past 2 weeks, i expect big fall, but first 236.00
Trade what you see, not what you think.
  • #6,191
  • Aug 10, 2007 6:53am Aug 10, 2007 6:53am
Look at the Daily chart....Strong trend downward...Higher TF means stronger trend...This sub-prime mortgage issue is going global... Still more downward movement before a rebound. Fasten your seatbelts..The market is due for the worst fall in carry trade history....

rgitt05



Carrytrades is over for short term...
Attached Image (click to enlarge)
Click to Enlarge Name: Daily chart GBPJPY.jpg Size: 53 KB
[
  • #6,192
  • Aug 10, 2007 6:56am Aug 10, 2007 6:56am
Quoting VishalJ
Man this is nuts.. I predicted housing would crash 2 years ago.. everyone used to laugh at me. My friend who risked his a$$ to buy a house for $450,000 (he thought it would be 1 million in 5 years.. like.. what?!) is now facing foreclosure.

It's ridiculous how amazingly idiotic lending companies and banks are. You would think professionals manage them. now look at what this subprime crisis is spreading to - almost every segment is getting affected.

Edit : While Im enjoying trading GJ as it falls.. I can't help but think of all the people who took risky loans, and now they're going to have to face higher bills (LIBOR rate just went up.. again)
Yeah, I have been saying this since 2002 and everyone thought that I was crazy. People buying homes 4-7 times than the bank value. What were they thinking? Good times are going to last forever, no, the reaper pays everyone a visit when you least expect it.
Humble Lifetime Member
  • #6,193
  • Aug 10, 2007 6:58am Aug 10, 2007 6:58am
Quoting rgitt05
Look at the Daily chart....Strong trend downward...Higher TF means stronger trend...This sub-prime mortgage issue is going global... Still more downward movement before a rebound. Fasten your seatbelts..The market is due for the worst fall in carry trade history....

rgitt05



Carrytrades is over for short term...
Yeah but we still make money if we short.
Humble Lifetime Member
  • #6,194
  • Aug 10, 2007 7:00am Aug 10, 2007 7:00am

this baby goin to 235.5...and im on the train...

"Analysis Is Hard But Trade Is Easy"
  • #6,195
  • Aug 10, 2007 7:01am Aug 10, 2007 7:01am
I shorted GU also @ 2.0182

TP 2.0000

trade at your own risk!
Trade what you see, not what you think.
  • #6,196
  • Aug 10, 2007 7:01am Aug 10, 2007 7:01am
Quoting Se[V]eN

this baby goin to 235.5...and im on the train...

why 235.50? can you enlighten me please, ty
Trade what you see, not what you think.
  • #6,197
  • Aug 10, 2007 7:03am Aug 10, 2007 7:03am
did I just had a spike upwards to 5sma h1 or you had it too??
  • #6,198
  • Aug 10, 2007 7:04am Aug 10, 2007 7:04am
Quoting ovidiu
did I just had a spike upwards to 5sma h1 or you had it too??
only you

once price retraces back to 5SMA on 1h, i'll short again
Trade what you see, not what you think.
  • #6,199
  • Aug 10, 2007 7:06am Aug 10, 2007 7:06am
Quoting ovidiu
did I just had a spike upwards to 5sma h1 or you had it too??
So from my understanding spikes can be a sign of a larger movement in the oposite direction or not?
Attached Image
  • #6,200
  • Aug 10, 2007 7:07am Aug 10, 2007 7:07am
Quoting ovidiu
So from my understanding spikes can be a sign of a larger movement in the oposite direction or not?
some brokers do that in order to hit stop-losses
Trade what you see, not what you think.
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