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

  • #12,541
  • Aug 21, 2007 7:29am Aug 21, 2007 7:29am
I still predict GBPJPY will retest Friday's low.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #12,542
  • Aug 21, 2007 7:30am Aug 21, 2007 7:30am
<knock on the wood> no trades for me today (yet), no clear signals

i see this whipsaw and wont enter and I am not enough acquainted with AUs system to shortscalp a small move...

I see:
Worst case: we wait in this turmoil till Thursday IR stuff

Best case: Fed step in with "surprise announcement"

Best best case: another subprime-style panic attack
  • #12,543
  • Aug 21, 2007 7:31am Aug 21, 2007 7:31am
Yup I agree, weard today, got the fed going to speak which will screw things up. The djia futures were down when I got off work and now they look to be up.

I think I will just sit here for a bit and watch.
  • #12,544
  • Aug 21, 2007 7:36am Aug 21, 2007 7:36am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
Scalping ... on .. 5 min chart I made good pips..
Now any one give me some direction please..
All things are difficult before they are easy.
  • #12,545
  • Aug 21, 2007 7:43am Aug 21, 2007 7:43am
Vrama is right,
The 5 m. is good for scalping today.
Longer tf are indeed undecidingly with a bias to the upside but we need more uniformity in the direction to enter a short trade. But the 7/8 pip spread makes it expensive to do so, you need bigger s/l to stay in. At the moment I do some 5 m. scalping and wait for the bigger tf to line up properly.

A.D.
  • #12,546
  • Aug 21, 2007 7:43am Aug 21, 2007 7:43am
excellent analysis ovidiu
Trade what you see, not what you think.
  • #12,547
  • Aug 21, 2007 7:44am Aug 21, 2007 7:44am
Quoting vrama
Scalping ... on .. 5 min chart I made good pips..
Now any one give me some direction please..
Sure, Use todays market to practice stuff on a demo.
  • #12,548
  • Aug 21, 2007 7:48am Aug 21, 2007 7:48am
Quoting jarroo
I still predict GBPJPY will retest Friday's low.

Jim
Yup .. you got it baby but it may not go that low ..
It is still in a down trend .. just be careful .. it is also ranging http://www.forexfactory.com/images/icons/icon9.gif
  • #12,549
  • Aug 21, 2007 7:49am Aug 21, 2007 7:49am
GJ has 6 fib lines to break for us to retest 219, so start praying if you want to see 219 or 190
Trade what you see, not what you think.
  • #12,550
  • Aug 21, 2007 7:51am Aug 21, 2007 7:51am
Quoting karmostaji
GJ has 6 fib lines to break for us to retest 219, so start praying if you want to see 219 or 190
I don't think it will retest today (maybe). Probably next week.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #12,551
  • Aug 21, 2007 7:53am Aug 21, 2007 7:53am
for 5 m. scalping.
next candle opens below 226.85 @ 14:55 (gmt+1)
short opportunity
my s/l @ 227.25

use your own entry/exit strategy.
trade at your own risk

A.D.
  • #12,552
  • Aug 21, 2007 7:54am Aug 21, 2007 7:54am
Quoting karmostaji
GJ has 6 fib lines to break for us to retest 219, so start praying if you want to see 219 or 190
If it breaks 224.75, we have a straight shot to low.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #12,553
  • Aug 21, 2007 7:55am Aug 21, 2007 7:55am
  •  vrama
  • | Joined Dec 2006 | Status: BE at right place@right time = LUCK | 210 Posts
Quoting MikeW
Sure, Use todays market to practice stuff on a demo.
In fact I made on live account only, with Aus method and chart only.
out of 6 one small looser. Now I am out. None opened right now, due to news. Made around 370 pips and -70 pips small loss, since last 5 hours.
I just used TFT (Gann HiLo) and 5sma cross, and executed.

Aus, sorry may be your method is not for scalping, because of market condition I used your method to scalp on 5 min chart.
May be there is efficient way to make pips but I am not able to follow the calls made today in this forum.

Thank you very much guys, for all the help and calls..
All things are difficult before they are easy.
  • #12,554
  • Aug 21, 2007 7:56am Aug 21, 2007 7:56am
short @ 226.59 avg. price

A.D.
  • #12,555
  • Aug 21, 2007 7:57am Aug 21, 2007 7:57am
well if 226.60 holds and the pair cant close above, we might see a little northern action. gbpusd also hit a support and couldnt break it so far..

but in a strange day like that. anything can happen
give me my pips back...
  • #12,556
  • Aug 21, 2007 8:01am Aug 21, 2007 8:01am
I would be happy if the power would just stop going off here...

Makes it really hard to trade sucessfully when you enter and can't even set things up as normal..
  • #12,557
  • Aug 21, 2007 8:02am Aug 21, 2007 8:02am
short @ 226.77

1st TP 225.70
2nd TP 225.15
3rd TP 224.50

very risky, u can lose ur money if u wish
Trade what you see, not what you think.
  • #12,558
  • Aug 21, 2007 8:04am Aug 21, 2007 8:04am
Quoting vrama
In fact I made on live account only, with Aus method and chart only.
out of 6 one small looser. Now I am out. None opened right now, due to news. Made around 370 pips and -70 pips small loss, since last 5 hours.
I just used TFT (Gann HiLo) and 5sma cross, and executed.

Aus, sorry may be your method is not for scalping, because of market condition I used your method to scalp on 5 min chart.
May be there is efficient way to make pips but I am not able to follow the calls made today in this forum.

Thank you very much guys, for all the help and calls..
Well done. Don't you find the QQE useful for scalping on the short time frame?
  • #12,559
  • Aug 21, 2007 8:06am Aug 21, 2007 8:06am
Quoting karmostaji
short @ 226.77

1st TP 225.70
2nd TP 225.15
3rd TP 224.50

very risky, u can lose ur money if u wish

you are right

wise order
but risky too...
i have added another short at the exact level with you.
good coincidence.
give me my pips back...
  • #12,560
  • Aug 21, 2007 8:06am Aug 21, 2007 8:06am
Yes,
I agree risky scalps we entered.
But waiting for the longer picture it is mandatory to do so.
You need adrenaline to keep awake to catch the bigger trades.

So far my scalp trade on the 5 m. did not went into the right direction str8 away. Most of the time this is a bad sign. I am ready to close it down sooner then my s/l level set. Most likley a move above the 227.00 i will close down prematurely the scalp.

A.D.
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