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

  • #8,581
  • Aug 15, 2007 3:06pm Aug 15, 2007 3:06pm
I went long, assuming it will go up until 5.
  • #8,582
  • Aug 15, 2007 3:07pm Aug 15, 2007 3:07pm
Quoting markam
I went long, assuming it will go up until 5.

I'm long at 132.55
  • #8,583
  • Aug 15, 2007 3:10pm Aug 15, 2007 3:10pm
closed short(233.80) @ 232.40 open 233.80

THANK YOU KARMO for teaching me to trust my charts amongst a lot of other stuff
THANK YOU AUS for the positive attitude and the encouragement all the way
THANK YOU MARKAM for an excellent DJI update that was very reassuring
THANK YOU MIKE for the nice words
and above all everyone that makes this thread worth hanging out at!

sorry guys if i'm over excited just glad I made a right judgement against the norm and some nice pips , actually the highest since my live experience started.
  • #8,584
  • Aug 15, 2007 3:12pm Aug 15, 2007 3:12pm
Quoting khmr
Mark is this just the typical day end liquidation or is this something more major?
We have closed at or near the days low, 4 out of the last 5 days. However, we are still only down 9% from the recent dow high.

At this point, we are still nowhere near a market meltdown. Any sort of major negative news is likely to turn this bear market into a market meltdown. I fully expect the dow below 10,000, I just don't know if it will be a week from now, or 6 months from now.
  • #8,585
  • Aug 15, 2007 3:13pm Aug 15, 2007 3:13pm
Quoting zoheir
closed short(233.80) @ 232.40 open 233.80

THANK YOU KARMO for teaching me to trust my charts amongst a lot of other stuff
THANK YOU AUS for the positive attitude and the encouragement all the way
THANK YOU MARKAM for an excellent DJI update that was very reassuring
THANK YOU MIKE for the nice words
and above all everyone that makes this thread worth hanging out at!

sorry guys if i'm over excited just glad I made a right judgement against the norm and some nice pips , actually the highest since my live experience started.

Congrad's my friend, this is just one of many. SO I hope that this feeling you have is a frequent one!
  • #8,586
  • Aug 15, 2007 3:15pm Aug 15, 2007 3:15pm
great call indeed Zaheir....wasn't looking good for you for a min. there when it got to 240.40 but glad to see you stuck with it....I'm glad I asked you how you got your conclusion rather then just hop on your wagon but I didn't get in on the trade at the end either as I do not have my charts in front me, just a mobile device
  • #8,587
  • Aug 15, 2007 3:15pm Aug 15, 2007 3:15pm
Quoting zoheir
closed short(233.80) @ 232.40 open 233.80

THANK YOU KARMO for teaching me to trust my charts amongst a lot of other stuff
THANK YOU AUS for the positive attitude and the encouragement all the way
THANK YOU MARKAM for an excellent DJI update that was very reassuring
THANK YOU MIKE for the nice words
and above all everyone that makes this thread worth hanging out at!

sorry guys if i'm over excited just glad I made a right judgement against the norm and some nice pips , actually the highest since my live experience started.
Good job. I just wish I had kept the short that I opened with the dow was at its daily high. I would have 200 pips profit, instead of 25.
  • #8,588
  • Aug 15, 2007 3:16pm Aug 15, 2007 3:16pm
Quoting trader8686
How did you know it? Mind sharing the secret?
No secret at all, maybe the blessing of not knowing too many systems or indicators (only 3 months experience demo+live combined) I really study price action for most of the day, and go through every example of bar/candle formation and the group formations etc, i only pick up my trade based on price action, and they start to look like repeated patterns from charts that I studied before, so I basically kind of know what will follow (sometimes of course!) then decide my entry based on areas of confluence and manage the trade manually pip by pip!! not the best I know, but works for me
  • #8,589
  • Aug 15, 2007 3:17pm Aug 15, 2007 3:17pm
Yen Outlook
19:57 GMT August 15 USD/JPY opened in NY at 116.72 in NY and near the 116.64 lows traded prior to the NY open after more risk-averse selling overnight. Price action in NY continued to track stock moves with initial DJIA losses keeping USD/JPY heavy around 116.75-90 but a turnaround rally in stocks squeezing USD/JPY stops from 117.10 up to 117.30 in a move to 117.45. Good US industrial production data helped the move as well. A later midafternoon stock rally to session highs for the DJIA saw USD/JPY extend gains to 117.58 but the market turned quickly with the credit concerns reigniting with focus on the funding for Countrywide. Stocks dropped back into the red, down over 180 pts in the afternoon, with USD/JPY dropping back to 116.67 accordingly.
JPY crosses of course followed these back and forth moves. USD/JPY bids remain ahead of 116.50 due to option defense with Japanese bids from 116.50 to 116.00 and more barrier options at 116.00. Traders now fear that Japan exporters, out for Obon holiday, have missed the chance to hedge and will trigger another wave of selling in coming sessions. (rs)
  • #8,590
  • Aug 15, 2007 3:18pm Aug 15, 2007 3:18pm
Quoting markam
Good job. I just wish I had kept the short that I opened with the dow was at its daily high. I would have 200 pips profit, instead of 25.
I'll share some with you amigo
  • #8,591
  • Aug 15, 2007 3:18pm Aug 15, 2007 3:18pm
Did you get my PM yesterday.....
thanks
  • #8,592
  • Aug 15, 2007 3:19pm Aug 15, 2007 3:19pm
Traders now fear that Japan exporters, out for Obon holiday, have missed the chance to hedge and will trigger another wave of selling in coming sessions.


  • #8,593
  • Aug 15, 2007 3:22pm Aug 15, 2007 3:22pm
This whole situation has got to suck for europeans and asians, since they are all on vacation and getting their asses handed to them.
  • #8,594
  • Aug 15, 2007 3:22pm Aug 15, 2007 3:22pm
Quoting zoheir
closed short(233.80) @ 232.40 open 233.80

THANK YOU KARMO for teaching me to trust my charts amongst a lot of other stuff
THANK YOU AUS for the positive attitude and the encouragement all the way
THANK YOU MARKAM for an excellent DJI update that was very reassuring
THANK YOU MIKE for the nice words
and above all everyone that makes this thread worth hanging out at!

sorry guys if i'm over excited just glad I made a right judgement against the norm and some nice pips , actually the highest since my live experience started.
Well-done! Zoheir and Congratulations . BR
  • #8,595
  • Aug 15, 2007 3:22pm Aug 15, 2007 3:22pm
Quoting khmr
great call indeed Zaheir....wasn't looking good for you for a min. there when it got to 240.40 but glad to see you stuck with it....I'm glad I asked you how you got your conclusion rather then just hop on your wagon but I didn't get in on the trade at the end either as I do not have my charts in front me, just a mobile device
Thanks K , I actually added a lot at that level but was too shy to call it out here and another 2 lots on the way down after the bar returned to bearish, so that's why I closed at that level, 4 lots were as good as another 100 pips down or more if I only had 1 lot

and by the way when you asked me to explain my call I got more confident so thank you my friend
  • #8,596
  • Aug 15, 2007 3:23pm Aug 15, 2007 3:23pm
aus, do you still expect the 1hr strength indicator to cross above 50 then cross back down?
  • #8,597
  • Aug 15, 2007 3:24pm Aug 15, 2007 3:24pm
Quoting zoheir
closed short(233.80) @ 232.40 open 233.80

THANK YOU KARMO for teaching me to trust my charts amongst a lot of other stuff
THANK YOU AUS for the positive attitude and the encouragement all the way
THANK YOU MARKAM for an excellent DJI update that was very reassuring
THANK YOU MIKE for the nice words
and above all everyone that makes this thread worth hanging out at!

sorry guys if i'm over excited just glad I made a right judgement against the norm and some nice pips , actually the highest since my live experience started.

bravo

which indicator u use
kermo ROcks !
  • #8,598
  • Aug 15, 2007 3:24pm Aug 15, 2007 3:24pm
Quoting markam
This whole situation has got to suck for europeans and asians, since they are all on vacation and getting their asses handed to them.
I agree with you. I remember last November right after Thanksgiving when China announced their intentions to sell some dollars the market went nuts while many were on an extended holiday. Granted this is a different situation but I would expect some interesting sessions ahead, especially once they all get back.
  • #8,599
  • Aug 15, 2007 3:25pm Aug 15, 2007 3:25pm
Quoting bluerose
Well-done! Zoheir and Congratulations . BR
Thanks Blue rose wish many pips to come
  • #8,600
  • Aug 15, 2007 3:26pm Aug 15, 2007 3:26pm
Quoting uzaircs
bravo

which indicator u use
None - just MA's and Fibo's and trendlines (not saying that they don't work, I'm just more comfortable this way)
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