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

  • #15,121
  • Aug 24, 2007 7:44am Aug 24, 2007 7:44am
Quoting Lincoln_10
karmo quick question... It might be very early to give a decision, but do you believe that the beast will ever get to the 250 levels?
or your target 238.40 is as fas as you think it will get?
I think we've seen the low at 219, and we will see 250+ in months, but I could be totally wrong..
Trade what you see, not what you think.
  • #15,122
  • Aug 24, 2007 7:45am Aug 24, 2007 7:45am
Quoting karmostaji
I think we've seen the low at 219, and we will see 250+ in months, but I could be totally wrong..
yeah i understand.. given our strategies and unexpected news, it is hard to know the distant future...
give me my pips back...
  • #15,123
  • Aug 24, 2007 7:45am Aug 24, 2007 7:45am
Daily studies are bullish and retracement may still target a full 61.8% to 239.00. Break below 231.5 targets the 228.8 pivot again.
Quoting Lincoln_10
karmo quick question... It might be very early to give a decision, but do you believe that the beast will ever get to the 250 levels?
or your target 238.40 is as fas as you think it will get?
  • #15,124
  • Aug 24, 2007 7:45am Aug 24, 2007 7:45am
I am done for the day

UJ Long at 157.83 and exit with 7 pips profit, let her ride, only took Entry one and done.

Not familiar with this session.

NOTE: GJ had no 5 minute setup here, but the UJ played out perfect, If I had been doing this trade at LONDON, I would have stayed in for a target of 18 pips - spread, for 14 total profit - And Entry 2 would be in for the Top retest or stopped out at entry point.
  • #15,125
  • Aug 24, 2007 7:46am Aug 24, 2007 7:46am
Quoting monarch
Now that is very possible, the SALES of new homes are dying here bad, so get what you can when you can, and get out. LOL

I got excited on that last 5 minute candle, and opened my trading platform, If I get a signal before the 7am news, i am going in to scalp this for a few pips, will wait for the retrace though, were seeing the top here now, but we broke over resistance.

The candle broke over the upper channel line, but did not clear the previous Flag lower line to reenter that Long break out.

I trade UJ, not GJ though.

careful and patience is the key.
Patience is the key bro..also watch for the 89ema on the 4hr.

NP
  • #15,126
  • Aug 24, 2007 7:48am Aug 24, 2007 7:48am
Quoting turn1to100
Daily studies are bullish and retracement may still target a full 61.8% to 239.00. Break below 231.5 targets the 228.8 pivot again.
239 today would be nice
give me my pips back...
  • #15,127
  • Aug 24, 2007 7:50am Aug 24, 2007 7:50am
Quoting monarch
How many Long entries do you have?

If you don't mind me askin. tanks

By the way, I don't trade the GJ as often, I trade the UJ on my London Strategy, cheaper spread. LOL
Do you use an ECN or just a bucket shop broker?
  • #15,128
  • Aug 24, 2007 7:51am Aug 24, 2007 7:51am
you mean you are going off the comp?

btw, i just tried a trade on the UJ just after news.. and yea.. i prefer the UJ just cos of the spread! LOL



Quoting monarch
I am done for the day

UJ Long at 157.83 and exit with 7 pips profit, let her ride, only took Entry one and done.

Not familiar with this session.

NOTE: GJ had no 5 minute setup here, but the UJ played out perfect, If I had been doing this trade at LONDON, I would have stayed in for a target of 18 pips - spread, for 14 total profit - And Entry 2 would be in for the Top retest or stopped out at entry point.
  • #15,129
  • Aug 24, 2007 7:51am Aug 24, 2007 7:51am
Quoting Northpro
Patience is the key bro..also watch for the 89ema on the 4hr.

NP
That 4 HR 89ema is calling us upwards EH?

Would like to see that break, would be beneficial for the 4 hour continuation, are you still in, or reentered again?

K
  • #15,130
  • Aug 24, 2007 7:51am Aug 24, 2007 7:51am
I like 233.61 today and 236.13 monday possible.
Jim
Indicators show the past. Price Action "Indicates" the future.
  • #15,131
  • Aug 24, 2007 7:52am Aug 24, 2007 7:52am
Quoting monarch
Now that is very possible, the SALES of new homes are dying here bad, so get what you can when you can, and get out. LOL

I got excited on that last 5 minute candle, and opened my trading platform, If I get a signal before the 7am news, i am going in to scalp this for a few pips, will wait for the retrace though, were seeing the top here now, but we broke over resistance.

The candle broke over the upper channel line, but did not clear the previous Flag lower line to reenter that Long break out.

I trade UJ, not GJ though.

careful and patience is the key.
yeah that's good

I like to trade UJ, 1.6pip spread usually
  • #15,132
  • Aug 24, 2007 7:54am Aug 24, 2007 7:54am
Aus,
have you turned bullish for todays dow session or still you think bears are going to be dominant?
  • #15,133
  • Aug 24, 2007 7:54am Aug 24, 2007 7:54am
Quoting Zoran
Do you use an ECN or just a bucket shop broker?
I actually use to use a smaller spread broker, which I don't want to mention, Northpro knows who I am speaking of, but switched back to FXCM, and have had no problem with fills or exits, they are 4 pip spread, which is no problem, we can get that quick in the 5 minute setup.

But I don't like the 7 on GJ spread, even though the GJ moves twice as far as EJ, I prefer EJ because of my setup is more consistent.
  • #15,134
  • Aug 24, 2007 7:56am Aug 24, 2007 7:56am
Quoting monarch
That 4 HR 89ema is calling us upwards EH?

Would like to see that break, would be beneficial for the 4 hour continuation, are you still in, or reentered again?

K
Would really like to see a break of the 89ema for a 61% target of 234.60. Still in from 228.80. Possible Carry trade entry on Sunday/Monday as well. We'll see what new home sales does at 7pst.

NP
  • #15,135
  • Aug 24, 2007 7:58am Aug 24, 2007 7:58am
Quoting monarch
I actually use to use a smaller spread broker, which I don't want to mention, Northpro knows who I am speaking of, but switched back to FXCM, and have had no problem with fills or exits, they are 4 pip spread, which is no problem, we can get that quick in the 5 minute setup.

But I don't like the 7 on GJ spread, even though the GJ moves twice as far as EJ, I prefer EJ because of my setup is more consistent.
Hi Monarch, you have been talking about the u/j all this time as your prefered pair. and now you mention e/j. is that a typo?
  • #15,136
  • Aug 24, 2007 8:00am Aug 24, 2007 8:00am
Quoting karmostaji
I think we've seen the low at 219, and we will see 250+ in months, but I could be totally wrong..
I have a downward resistance line (extending from 19/7 high) that is currently @ 238.00 and would be at a lower once, if this level is reached; what makes you think that the 61.8 @ 238.80 could be reached?

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  • #15,137
  • Aug 24, 2007 8:00am Aug 24, 2007 8:00am
Quoting intelmaster
you mean you are going off the comp?

btw, i just tried a trade on the UJ just after news.. and yea.. i prefer the UJ just cos of the spread! LOL
The important thing with scalping is knowing there is direction and momentum, look at the 5 minute that came with the news, it was about 70 pips, which is about 10 short of what I like to see in my setup regularly.

I will watch the momentum go, that is great, I never enter on that candle, but I wait for the top/bottom to appear, then give it time to retrace, because they always retrace, just make sure your not entering on a reversal, and for that, I have incorporated a few different indicators to pick out the moves that should have a continuation, such as this did.

I like to enter the retrace, and usually I like to take the top/bottom and take a percentage target, and usually I hit it right with room to spare, never take the edges, but the middle of the pie. We take small bites, and let the rest alone, not too greedy, and never in too long allowing a second retrace to come against us.

I also add lots occasionally when we break above/below recent daily supp/res lines and go for more profits, but this is an entirely different trade then the ENTRY 1 scalp.
  • #15,138
  • Aug 24, 2007 8:00am Aug 24, 2007 8:00am
Hi Monarch,
great reading your comments here.
I too thin UJ is great pair to follow, cause of the low spread and less dramatic moves/ swings that can really hurt a small account.
If someday you have time may be you can tell us a bit about your setup, it would be great to be able to trade for a short time a nd make 5 or so pips.
thanks and happy trading
learn something everyday
  • #15,139
  • Aug 24, 2007 8:02am Aug 24, 2007 8:02am
1 hr QQE already crossed on MT4.
Should we go long now?
  • #15,140
  • Aug 24, 2007 8:03am Aug 24, 2007 8:03am
Quoting bill77
Hi Monarch, you have been talking about the u/j all this time as your prefered pair. and now you mention e/j. is that a typo?
Sorry, YES I am ony talking of EJ, I must have typed u, but E/J is the pair I am doing, with the backdrop view of GJ.

Hope that clarifies it a little.

Ken
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