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

  • #6,861
  • Aug 13, 2007 6:18am Aug 13, 2007 6:18am
Quoting auslanco
I'm was long from 236.56. exited @ 237.55
On what signal did you go long @ 236.56? I guess that was a trade outside of your system?
Consistency and patience is everything
  • #6,862
  • Aug 13, 2007 6:20am Aug 13, 2007 6:20am
Quoting Geldmeister
On what signal did you go long @ 236.56? I guess that was a trade outside of your system?
it wasnt indeed... just some dirty scalping from the support level
  • #6,863
  • Aug 13, 2007 6:24am Aug 13, 2007 6:24am
Patience pays off, will update in 35 mins after my 4H candle closes
Trade what you see, not what you think.
  • #6,864
  • Aug 13, 2007 6:28am Aug 13, 2007 6:28am
How was it obvious to that it did hit a support level there (slightly above Friday's low)? When it started to retrace from I thought it might just be a breather before attacking Friday's low, 236 and below.
Thanks for your guidance!
Consistency and patience is everything
  • #6,865
  • Aug 13, 2007 6:34am Aug 13, 2007 6:34am
Quoting auslanco
I'm was long from 236.56. exited @ 237.55
I'm long from 238.25. What do you suggest should i keep holding this position?
  • #6,866
  • Aug 13, 2007 6:38am Aug 13, 2007 6:38am
It looks like it just retraced to fibo 50 , now it's time to go down
COT: The precious data ignored
  • #6,867
  • Aug 13, 2007 6:38am Aug 13, 2007 6:38am
Quoting gau2902
I'm long from 238.25. What do you suggest should i keep holding this position?
what made you buy at that level?? are you trading a demo?
  • #6,868
  • Aug 13, 2007 6:41am Aug 13, 2007 6:41am
Once you taste any JPY pairs and big swings of JPY, all other non-JPY pairs seem so dormant and boring. Do you all feel the same way ? ;-)
  • #6,869
  • Aug 13, 2007 6:42am Aug 13, 2007 6:42am
Quoting webstakes
Once you taste any JPY pairs and big swings of JPY, all other non-JPY pairs seem so dormant and boring. Do you all feel the same way ? ;-)
Yes
  • #6,870
  • Aug 13, 2007 6:44am Aug 13, 2007 6:44am
Huyyy.. got my long stop out previously, then had my short tp hit. Thus, break even trade 1 lose, 1 win.
  • #6,871
  • Aug 13, 2007 6:45am Aug 13, 2007 6:45am
Quoting auslanco
what made you buy at that level?? are you trading a demo?
No. I was after some quick pips and made a mistake.
  • #6,872
  • Aug 13, 2007 6:49am Aug 13, 2007 6:49am
Quoting gau2902
No. I was after some quick pips and made a mistake.
Hmmmm... this will test the support again.. but If US Retail sales come negative, we may see a trend reversal towards up.
  • #6,873
  • Aug 13, 2007 6:51am Aug 13, 2007 6:51am
Quoting gau2902
No. I was after some quick pips and made a mistake.
you want the short answer ? if you're already more than 2% in loss (from your account size) close it no matter what -- don't get used to waiting in hope cause it's a difficult habit to cjange (it wasn't really a short answer )
good luck in the trades to come
  • #6,874
  • Aug 13, 2007 6:51am Aug 13, 2007 6:51am
Quoting gau2902
No. I was after some quick pips and made a mistake.
Since this pair has 100-200 pips swing, Its not a bad idea to hold and recover when it starts to go up......Don't worry, You are not alone ;-)
  • #6,875
  • Aug 13, 2007 6:54am Aug 13, 2007 6:54am
Quoting auslanco
Hmmmm... this will test the support again.. but If US Retail sales come negative, we may see a trend reversal towards up.
Do you have any open positions now?
  • #6,876
  • Aug 13, 2007 6:54am Aug 13, 2007 6:54am
If US retail sales is negative, I expect more downward movement since UJ will fall, from the 4H chart it looks like it has more potential to go down.. 232.50 my TP
Trade what you see, not what you think.
  • #6,877
  • Aug 13, 2007 6:56am Aug 13, 2007 6:56am
Quoting karmostaji
If US retail sales is negative, I expect more downward movement since UJ will fall, from the 4H chart it looks like it has more potential to go down.. 232.50 my TP
Exactly my thoughts, I got confused for a minute when Aus said it will go up, we''ll see anyways.
  • #6,878
  • Aug 13, 2007 6:58am Aug 13, 2007 6:58am
Quoting karmostaji
If US retail sales is negative, I expect more downward movement since UJ will fall, from the 4H chart it looks like it has more potential to go down.. 232.50 my TP
I agreed with you karmostaji.....Your TP is based on GJ daily Chart FIbo 61.80% ??
By the way, may i know what is your entry point?
New Forex Trader
  • #6,879
  • Aug 13, 2007 6:58am Aug 13, 2007 6:58am
Quoting karmostaji
If US retail sales is negative, I expect more downward movement since UJ will fall, from the 4H chart it looks like it has more potential to go down.. 232.50 my TP
Yep.. Aus, I think so too - but not because of UJ (well partly) but because of all this risk aversion crap going on. Markets will take low retail sales as a bad sign for the economy - housing in the pits, low retail sales - means low consumer confidence - so equities sell off.. unwinding jpy pairs.. and so on.

But that's just an opinion.. let's see what really happens!
  • #6,880
  • Aug 13, 2007 6:59am Aug 13, 2007 6:59am
Quoting karmostaji
If US retail sales is negative, I expect more downward movement since UJ will fall, from the 4H chart it looks like it has more potential to go down.. 232.50 my TP
I see you have become completely bearish after last friday.....
I would like to get sentiment vote to see how many traders are bearish or bullish ?

Pls support.
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