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

  • #24,221
  • Sep 10, 2007 10:25am Sep 10, 2007 10:25am
Quoting monarch
I have so many Fibs I couldn't tell you which one I want to use. LOL

Swimming EH, well that sounds like great therapy.

Your shoulder would do better if you would quit leaning on the keyboard there.

I still haven't gotten my morning coffee and it is already 10am here, guess it is too much fun watching the paint dry on these charts.

Still watching "Auslanco's" 229.64 on the Hourly Bar, was hoping to breach that here this hour, still downtrend for now, but E/J wants to climb a bit.
We seem range bound between the 15 5sma and the 30 min 5 sma - will stay out for a while and chill.
  • #24,222
  • Sep 10, 2007 10:30am Sep 10, 2007 10:30am
Quoting Zoran
Trading with real money is the only way to do it otherwise you never get the psycology. Newbies should use microlots ($0.01 per pip) and as they become more confident work up. When at the profitable level, a mini-lot ($1 per pip) is a good start. I have rarely used a demo account but when I have I was always lazy and didn't really care what happened. It's different with real money.

Zoran:

Well said. Had been expecting GBP/JPY to go a little higher today; but
was not at all surprised that the uptrend dominated. Do feel from the
charts that a significant long is possible.
  • #24,223
  • Sep 10, 2007 10:33am Sep 10, 2007 10:33am
and another one. i'll be watching carefully what happens when price is at 230.50/230.75 - fibo levels, reverse divergences and price action may suggest another short.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 29 KB
Nihil Sine Deo.
  • #24,224
  • Sep 10, 2007 10:38am Sep 10, 2007 10:38am
Monarc, Are you still short??? I'm going to set my SL @ 230.70 TP: 228.63 and off to bed.
  • #24,225
  • Sep 10, 2007 10:38am Sep 10, 2007 10:38am
Quoting Scrat
and another one. i'll be watching carefully what happens when price is at 230.50/230.75 - fibo levels, reverse divergences and price action may suggest another short.
yea but the dow above 13100 and yesterdays close suggests we are going up. there is no barrier until 13200 now.
  • #24,226
  • Sep 10, 2007 10:39am Sep 10, 2007 10:39am
see you tomorrow guys and good luck.
  • #24,227
  • Sep 10, 2007 10:39am Sep 10, 2007 10:39am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting my2buoys
Well, no wonder so many newbies are screwed up. Even babypips.com doesn't have it right. For one thing, there is only a 4 hour difference between EST and GMT, not 5 as babypips claims. Believe me, London closed at 11AM EST.

M2B
web site for world times
http://www.timeanddate.com/worldclock/city.html?n=179



New York, New York, United StatesCurrent timeMonday, September 10, 2007 at 1:33:52 PM EDTUTC/GMT OffsetStandard time zone:UTC/GMT -5 hoursDaylight saving time:+1 hourCurrent time zone offset:UTC/GMT -4 hoursTime zone abbreviation:EDT - Eastern Daylight TimeDaylight
Saving
TimeDST started on Sunday, March 11, 2007 at 2:00 AM local standard time
DST ends on Sunday, November 4, 2007 at 2:00 AM local daylight time
See time changes/daylight saving time in other years





London, England, United Kingdom
London is the capital of United Kingdom
London is capital of the constituent country EnglandCurrent timeMonday, September 10, 2007 at 6:35:27 PM BSTUTC/GMT OffsetStandard time zone:No UTC/GMT offsetDaylight saving time:+1 hourCurrent time zone offset:UTC/GMT +1 hourTime zone abbreviation:BST - British Summer TimeDaylight
Saving
TimeDST started on Sunday, March 25, 2007 at 1:00 AM local standard time
DST ends on Sunday, October 28, 2007 at 2:00 AM local daylight time
See time changes/daylight saving time in other years


The World Clock - Time Zone Converter - results

At the specified time, local time in New York was 5 hours behind London
LocationLocal timeTime zoneLondon (U.K. - England)Midnight between Sunday, September 9, 2007 and Monday, September 10, 2007UTC+1 hour BSTNew York (U.S.A. - New York)Sunday, September 9, 2007 at 7:00:00 PMUTC-4 hours EDT


hope this clears up the time issue
  • #24,228
  • Sep 10, 2007 10:41am Sep 10, 2007 10:41am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Forex factories clock, is this always New York time.

could be a good point for reference if it is.
  • #24,229
  • Sep 10, 2007 10:46am Sep 10, 2007 10:46am
Quoting auslanco
Monarc, Are you still short??? I'm going to set my SL @ 230.70 TP: 228.63 and off to bed.
Yes I am still short, was thinking the same, Stop at 70 also, will let this thing play out.

You get some rest bro, will chat with you at London or sooner.

Ken
  • #24,230
  • Sep 10, 2007 10:52am Sep 10, 2007 10:52am
the bears have come back and turned 13100 into a battlefield again. lets see who wins.
  • #24,231
  • Sep 10, 2007 10:54am Sep 10, 2007 10:54am
Quoting monarch
Yes I am still short, was thinking the same, Stop at 70 also, will let this thing play out.

You get some rest bro, will chat with you at London or sooner.

Ken
Off for a swim bud, catch ya l8r !
  • #24,232
  • Sep 10, 2007 10:57am Sep 10, 2007 10:57am
Quoting musicman007
Off for a swim bud, catch ya l8r !
Lets get together before London, Enjoy that swim bro.

See ya.
  • #24,233
  • Sep 10, 2007 11:00am Sep 10, 2007 11:00am
Quoting markam
the bears have come back and turned 13100 into a battlefield again. lets see who wins.
So the Bears let on that all is well, then come in for the bite after the NY Boys take lunch, that is slick eh?

You think were going to ride down under 13100 today?

Thanks
  • #24,234
  • Sep 10, 2007 11:00am Sep 10, 2007 11:00am
I'm guessing that the 10-yr changing .01% is what has been causing these ups and downs? Just before the previous blast upward, it went from 4.31% to 4.32% and stayed there for awhile.. Now it's back to 4.31% and we are back to going down..

Any comments about this? And does anyone know where to get non-delayed updates for the 10-yr %? I'm currently just watching CNBC for the updates..

Thanks
  • #24,235
  • Sep 10, 2007 11:03am Sep 10, 2007 11:03am
Quoting lilmoe
micro accounts are just rubbish....
With all due respect, I would have to disagree. Firstly, to clear things up, I'm a spreadbetter here in the UK, which basically means I don't pay tax and I don't trade in lots. The smallest trade I have ever been able to make (from the very beginning) is £1 per pip. That is too large for a newbie.

Microlots are ideal for the following reason:

$0.01 per pip is the smallest possible trade. Here is a brief overview:

Stage 1: $0.01 per trade. Good start to learn a platfrom, enter and exit trades. $100 is 10,000 pips so lots of room for error at little expense.

Stage 2: Getting used to it now, learning to trade with multiples. Also to scale into a position and scale out. Could have 10 micro-lots on one trade. Learn to scale out and move stops for different entries. Good Money management skills are starting to develop. Learning this skill on a mini-account is too expensive.

Stage 3: Profitable. Start entering with higher multiples and move into the mini-lot area (possibly still in micro-lot denominations)

Trading with multiples is an essential part of my trading and Money Management system. It would be too difficult otherwise.
  • #24,236
  • Sep 10, 2007 11:04am Sep 10, 2007 11:04am
It's nice to see some downward price movement again. Hopefully this is where patience pays off.

But this price area has been a comfort zone for the past three days. A jumping off point for testing support and resistance. Then it returns and loiters around again.
Attached Image
  • #24,237
  • Sep 10, 2007 11:06am Sep 10, 2007 11:06am
Quoting monarch
So the Bears let on that all is well, then come in for the bite after the NY Boys take lunch, that is slick eh?

You think were going to ride down under 13100 today?

Thanks
We couldn't cleanly break below 13100 on friday, when the market was much more negative. I would be surprised if we closed below 13100 today. And notice that GJ is in the same area as it was friday afternoon.

I believe that we are going to need some fairly significant bad news to cleanly break the dow below 13000. We are going to need that if we want to test the 219-220 lows of GJ. Without the bad news, I expect we will stay in this range until the fed rate decision. I don't have a clue as to what will happen after that.
  • #24,238
  • Sep 10, 2007 11:14am Sep 10, 2007 11:14am
Quoting markam
We couldn't cleanly break below 13100 on friday, when the market was much more negative. I would be surprised if we closed below 13100 today. And notice that GJ is in the same area as it was friday afternoon.

I believe that we are going to need some fairly significant bad news to cleanly break the dow below 13000. We are going to need that if we want to test the 219-220 lows of GJ. Without the bad news, I expect we will stay in this range until the fed rate decision. I don't have a clue as to what will happen after that.
I would have to agree.

Bad news - Down
No news - Range

Fed Drop Rate - UP - UP - UP

That is the real move I will be watching for.

Till then, maybe just scalp again, Don't like taking trades that last all day long. LOL
  • #24,239
  • Sep 10, 2007 11:14am Sep 10, 2007 11:14am
BTW, tomorrow is 9/11 ... hope that everything is as usual as any other day!


Quoting markam
We couldn't cleanly break below 13100 on friday, when the market was much more negative. I would be surprised if we closed below 13100 today. And notice that GJ is in the same area as it was friday afternoon.

I believe that we are going to need some fairly significant bad news to cleanly break the dow below 13000. We are going to need that if we want to test the 219-220 lows of GJ. Without the bad news, I expect we will stay in this range until the fed rate decision. I don't have a clue as to what will happen after that.
  • #24,240
  • Sep 10, 2007 11:31am Sep 10, 2007 11:31am
Monarch

Taking back what Forex took from me when I was a hopeless Newbie.


MONARCH,

YOUR HUMOR IS REFRESHING.... MAYBE IT WILL TRIGGER A BULLISH TREND
IN THE MARKET.

AFTER WATCHING THE SOCIOECONOMIC VIDEO, I'M CONVINCED WE ARE IN
BECOMING ENTRENCHED IN A BEARISH CYCLE.. WITH ALL THE AGGITATION
AND ANGRY REMARKS TO NEWBIES HERE ON THIS THREAD. I'M ALMOST
AFRAID TO OFFER MY DAILY MEANINGLESS COMMENTS OR ASK SOME
THOUGHTLESS QUESTIONS.

I TOO WAS ONCE HOPELESS, NOW ONLY HAPLESS AFTER THIS MARKET HAS
BEAT ME SENSELESS.

SLEEPLESSINADUMPSTER
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