DislikedSorry if I offended. I wasn't attacking your position, just asking for substantiation. A chart would be nice. For example, take a look at this monthly chart dating back to 1980. Seems down to me, especially when you look at the RSI underneath and see how it has correlated with the fall of price in past years. Could it go up before coming back down? Of course it could. Anything could happen. Just don't let the hype of carry trades distort what you are seeing on the charts. We are trying to determine the most probable direction based upon a mixture of techs and fundamentals.
M2BIgnored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #7,402
- Aug 14, 2007 11:23am Aug 14, 2007 11:23am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #7,404
- Aug 14, 2007 11:30am Aug 14, 2007 11:30am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Smile 
Trade what you see, not what you think.
- #7,408
- Aug 14, 2007 11:37am Aug 14, 2007 11:37am
- Joined Mar 2007 | Status: 'sleeping in a dumpster' | 2,151 Posts
The dow is around 13,100 right now. If it moves back to near the opening level (13,235), I would go short again. I doubt the dow is going into positive territory today.
Of course, I also have no confidence the dow will retrace to its opening level.
Don't think I'll trade this pair anymore during the NY market, at least during such volatile periods... (I guess that means for the next 5 years... lol.)
The revelation that the dow and the GBPJPY are joined at the "pip"... takes all the fun out of it. Why can't they just develop more complex personalities of their own.
Dr. D.
- #7,411
- Aug 14, 2007 11:40am Aug 14, 2007 11:40am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trading is so easy, but humans make it hard for themselves..
chill out and go drink something
stress is not good for your health, if you are stressful then you need to stop trading and get back to studying until you are more confident with your trades
chill out and go drink something
stress is not good for your health, if you are stressful then you need to stop trading and get back to studying until you are more confident with your trades
Trade what you see, not what you think.
- #7,412
- Aug 14, 2007 11:41am Aug 14, 2007 11:41am
Don't think I'll trade this pair anymore during the NY market, at least during such volatile periods... (I guess that means for the next 5 years... lol.)
The revelation that the dow and the GBPJPY are joined at the "pip"... takes all the fun out of it. Why can't they just develop more complex personalities of their own.
Dr. D.
- #7,413
- Aug 14, 2007 11:42am Aug 14, 2007 11:42am
Don't think I'll trade this pair anymore during the NY market, at least during such volatile periods... (I guess that means for the next 5 years... lol.)
The revelation that the dow and the GBPJPY are joined at the "pip"... takes all the fun out of it. Why can't they just develop more complex personalities of their own.
Dr. D.
After so many losses I don't know what keeps my going
- #7,415
- Aug 14, 2007 11:45am Aug 14, 2007 11:45am
Trading is so easy, but humans make it hard for themselves..
chill out and go drink something
stress is not good for your health, if you are stressful then you need to stop trading and get back to studying until you are more confident with your trades
Heck I just got back from my fishing trip last night, figured I would open things up a bit after a long relaxing week end. And I am having a beer right now so I can take my nap before work. It is this dow thing that sucks..so I will just not look any more so I can stay mellow for a day or perhaps two?..
- #7,418
- Aug 14, 2007 11:52am Aug 14, 2007 11:52am
Yep call Ben and the plunge protection team. They might get the DOW into plus before the close...
- #7,419
- Aug 14, 2007 11:53am Aug 14, 2007 11:53am
Quote:
Originally Posted by fourxtrader http://www.forexfactory.com/images/buttons/viewpost.gif
Don't think I'll trade this pair anymore during the NY market, at least during such volatile periods... (I guess that means for the next 5 years... lol.)
The revelation that the dow and the GBPJPY are joined at the "pip"... takes all the fun out of it. Why can't they just develop more complex personalities of their own.
Dr. D.
I'm with you two, and in the same situation like Ovidiu... so stressful and I'm taking Karmo's advice "Smile"
Originally Posted by fourxtrader http://www.forexfactory.com/images/buttons/viewpost.gif
Don't think I'll trade this pair anymore during the NY market, at least during such volatile periods... (I guess that means for the next 5 years... lol.)
The revelation that the dow and the GBPJPY are joined at the "pip"... takes all the fun out of it. Why can't they just develop more complex personalities of their own.
Dr. D.
yes I am with you, first the dow took off my short, after that it seemed like the perfect setting for a retracement, 1h momentum pointing up, 15min SI and 30min SI crossing the signal line, bought 2 times both ended miserably.
After so many losses I don't know what keeps my going
I'm with you two, and in the same situation like Ovidiu... so stressful and I'm taking Karmo's advice "Smile"
- #7,420
- Aug 14, 2007 11:55am Aug 14, 2007 11:55am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
232.50 is not too far away, my beautiful target
it will come soon patience is the key
it will come soon
patience is the key
Trade what you see, not what you think.