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

  • #17,201
  • Aug 28, 2007 4:07pm Aug 28, 2007 4:07pm
Quoting lilmoe
did u close ur long markam?
No. I am confident market will retrace. We went down too far for it not to.
  • #17,202
  • Aug 28, 2007 4:12pm Aug 28, 2007 4:12pm
Quoting markam
No. I am confident market will retrace. We went down too far for it not to.

you always keep me scratching my head.....
  • #17,203
  • Aug 28, 2007 4:14pm Aug 28, 2007 4:14pm
Quoting markam
No. I am confident market will retrace. We went down too far for it not to.
What's your stop loss?
  • #17,204
  • Aug 28, 2007 4:14pm Aug 28, 2007 4:14pm
Quoting lilmoe
you always keep me scratching my head.....

Just wait a confirmation of the retracement... or wait Auslanco :
COT: The precious data ignored
  • #17,205
  • Aug 28, 2007 4:15pm Aug 28, 2007 4:15pm
The 4hr qqe crossed clearly down over 50 and would seem the next stop is at 226.99 support, after that back down to test 219.22 low from 8/17?
  • #17,206
  • Aug 28, 2007 4:15pm Aug 28, 2007 4:15pm
I beleive if it can break 228, next stop, 226.80, I beleive.
  • #17,207
  • Aug 28, 2007 4:15pm Aug 28, 2007 4:15pm
I also thought it would have started a retrace by now, but it is continuing to go down...
... do you have an ultimate SL? will you hedge at some point? or do you just let it run wherever it takes you?
Consistency and patience is everything
  • #17,208
  • Aug 28, 2007 4:16pm Aug 28, 2007 4:16pm
Quoting kuroro001
Just wait a confirmation of the retracement... or wait Auslanco :
How do we know when a retracement is going to occur? Is there an indicator to use like the momentum indicator?
  • #17,209
  • Aug 28, 2007 4:16pm Aug 28, 2007 4:16pm
My charts still not showing wanting much of any kind of retrace yet! Amazing as far as its slid this afternoon without hardly any! I'm wondering if its going to be one of those sliding down, almost under the radar days?
  • #17,210
  • Aug 28, 2007 4:17pm Aug 28, 2007 4:17pm
Quoting kuroro001
Just wait a confirmation of the retracement... or wait Auslanco :

yea.. i'll do the latter, cuz once upon a time there was a person who went "screw it! i'm going long!" and screwed me along with him...
  • #17,211
  • Aug 28, 2007 4:18pm Aug 28, 2007 4:18pm
Quoting lilmoe
you always keep me scratching my head.....
We went done over 400 pips already today without a major retracement. I could be wrong, but I believe we will have a big retrace before it moves down significantly. The drop we just had does worry me a little, so I have a hedge set up below 228 just in case.
  • #17,212
  • Aug 28, 2007 4:20pm Aug 28, 2007 4:20pm
Quoting Richardj
Is anyone else seeing a big support around 228.40?

Hi Richardj.

Mine is at 228.55

Hut this bear run might just be too strong for this weekly pivot level. But let us see.....

This is probably the best early morning I have woken up too....

Thank you Auslanco. TP hit for 1 trade another one I closed just a while ago. Remaining tradeis the negative trade from last week as that was started from 225.85

But boy, does it look like its gonna be fine if it breaks the weekly pivot at 228.55 on my chart

Happy Harvest Everyone.

EG

PS. I think here is the value of not over trading ones account. Provided that you understand the main direction of a trend, one can reduce risk of losses by providing bigger SLs to your trades. With it too must come the value of understanding or being able to project how far a retracement can go and if the trade is worth it or not. This means knowing that if a trade goes wrong, would you have a certain idea that if time allows, you will be able to protect and save that trade until it gets back on its feet.

Anyway.... just trying to share..... sorry i mumble so much....

Thank you again to all of you in this thread specially Auslanco...... your insights have been very valuable..
  • #17,213
  • Aug 28, 2007 4:20pm Aug 28, 2007 4:20pm
Quoting jay9170
How do we know when a retracement is going to occur? Is there an indicator to use like the momentum indicator?
Yeh Auslanco said that we had to look at the momentum indicator to see if a retracement is going to occur.
For example, if you are in a cleary downtrend and the 30mn momentum is pointing up , you should see a 30mn 5sma retracement i think

I may be wrong , but that's the way i understand it. I just need someone to confirm me that i am right please
COT: The precious data ignored
  • #17,214
  • Aug 28, 2007 4:20pm Aug 28, 2007 4:20pm
Quoting lilmoe
yea.. i'll do the latter, cuz once upon a time there was a person who went "screw it! i'm going long!" and screwed me along with him...
that one worked for me. This one is a little scarier.
  • #17,215
  • Aug 28, 2007 4:21pm Aug 28, 2007 4:21pm
Quoting lilmoe
yea.. i'll do the latter, cuz once upon a time there was a person who went "screw it! i'm going long!" and screwed me along with him...

no offence bud, u did save my ass several times, i just never told u
  • #17,216
  • Aug 28, 2007 4:22pm Aug 28, 2007 4:22pm
whoever went long, I want to thank you for giving me some pips lol

next stop is 227.40, i'll have those pips markam
Trade what you see, not what you think.
  • #17,217
  • Aug 28, 2007 4:24pm Aug 28, 2007 4:24pm
Quoting lilmoe
yea.. i'll do the latter, cuz once upon a time there was a person who went "screw it! i'm going long!" and screwed me along with him...

But some people are saying 'i went long' but they don't tell you when they are planning to close , they probably just scalp and get 20-30 pips while you wait for 100 pips.
COT: The precious data ignored
  • #17,218
  • Aug 28, 2007 4:24pm Aug 28, 2007 4:24pm
Quoting karmostaji
whoever went long, I want to thank you for giving me some pips lol

next stop is 227.40, i'll have those pips markam

Karmo is short and I am long. Did the world just end?
  • #17,219
  • Aug 28, 2007 4:25pm Aug 28, 2007 4:25pm
Quoting karmostaji
whoever went long, I want to thank you for giving me some pips lol

next stop is 227.40, i'll have those pips markam
Did you become a bear now ?
COT: The precious data ignored
  • #17,220
  • Aug 28, 2007 4:25pm Aug 28, 2007 4:25pm
Quoting karmostaji
whoever went long, I want to thank you for giving me some pips lol

next stop is 227.40, i'll have those pips markam
bull man?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
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