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

  • #27,201
  • Sep 14, 2007 9:57am Sep 14, 2007 9:57am
Quoting markam
for those of us that don't make pictures out of our candlesticks, what does that mean?
Period : 26 Months Account Balance : +264% Max DD : 14.2%
  • #27,202
  • Sep 14, 2007 9:58am Sep 14, 2007 9:58am
Quoting BenQ
That's true, looks normal. But what do you personally use as your exit strategy when a trades moves against you?
I mentioned that I tightened my SL when I saw that silly 230.35 not breaking easily, I got stopped out for a couple of hundred pips but reloaded close to 50ema and at 50% fibo retracement.
Trade what you see, not what you think.
  • #27,203
  • Sep 14, 2007 10:01am Sep 14, 2007 10:01am
Quoting karmostaji
the 15m candle will most probably close as a pin-bar, keep an eye on it.
Indeed a pin-bar, now a bearish candle after it will set the deal
Trade what you see, not what you think.
  • #27,204
  • Sep 14, 2007 10:01am Sep 14, 2007 10:01am
Quoting mike w
Looking at my 4 hour chart, I would say that we are now in a downtrend on the GPD/JPY. It looks as though the second wave has been finished and now the correction for that wave has come into play. After this correction, I feel that we should see A LOT more downward movement. I actually am going to feel a little crazy here and say that we could possibly see past 229.00 for a short time and then it will most likely rebound as this looks to be very strong support. The daily charts, to me, look as though the downtrend within it is prevalent also. On the dailies, it ALSO looks as though the second wave down has been finished on August 19th, and now we are dealing with that retrace. Once this retrace is over, I feel that The drop off this time will be very large and go down past the 229.00 support level. Any comments?
I am fascinated by the Elliot Wave theory, but it seems very complex.
Can you recommend an understandable, basic text?


BTW I see you are not too far from Piptopia, do you ever get down there?
  • #27,205
  • Sep 14, 2007 10:03am Sep 14, 2007 10:03am
Quoting lepiricus
Karmo is our rock, nerves of steel. Only guy I know who can take a nap when he is -100 floating pips
Patience is an important key to successful trading, practice it in your daily life.
Trade what you see, not what you think.
  • #27,206
  • Sep 14, 2007 10:05am Sep 14, 2007 10:05am
Quoting karmostaji
Indeed a pin-bar, now a bearish candle after it will set the deal
Pin-bar? What does it mean?Sorry I'm very newbie.
  • #27,207
  • Sep 14, 2007 10:06am Sep 14, 2007 10:06am
Quoting markam
second attempt to go positive on the dow bounces. Hopefully, there will be no more attempts.
maybe we have to think like DOW traders.

T1..Retail sales are down mate
T2..Yeah..(thinks.."what's a retail"?)

T1..Michigan consumer sentiment up mate....burgers 10 cents off at Mac's!!
T2..Burgers 10 cents off!!!! Must be good...BUY, BUY!!!

Sorry....but you've got to wonder ....
  • #27,208
  • Sep 14, 2007 10:07am Sep 14, 2007 10:07am
Is that a pin-bar on the 30mins as well ?
The quality of your life is brought about by the quality of your thinking.
  • #27,209
  • Sep 14, 2007 10:07am Sep 14, 2007 10:07am
Quoting m2m
Pin-bar? What does it mean?Sorry I'm very newbie.
No offence but really, Try GOOGLE!
  • #27,210
  • Sep 14, 2007 10:08am Sep 14, 2007 10:08am
Quoting m2m
Pin-bar? What does it mean?Sorry I'm very newbie.
Google candlestick patterns and study them for the weekend.

Here's a start: http://www.actionforex.com/articles_..._200605107114/
Trade what you see, not what you think.
  • #27,211
  • Sep 14, 2007 10:08am Sep 14, 2007 10:08am
Quoting hornet
Is that a pin-bar on the 30mins as well ?


Do you really need that answered??
  • #27,212
  • Sep 14, 2007 10:09am Sep 14, 2007 10:09am
Quoting hornet
Is that a pin-bar on the 30mins as well ?
I would say yes, now with a bearish candle after it, it would indicate it is heading back south.
Trade what you see, not what you think.
  • #27,213
  • Sep 14, 2007 10:11am Sep 14, 2007 10:11am
Quoting m2m
Pin-bar? What does it mean?Sorry I'm very newbie.
Here is an useful link

http://www.forexfactory.com/showthread.php?t=6721

Cheers. BR
  • #27,214
  • Sep 14, 2007 10:12am Sep 14, 2007 10:12am
Some weekend reading for you.

Quoting hornet
Is that a pin-bar on the 30mins as well ?
Attached File(s)
File Type: pdf Pin Bar intro.pdf   175 KB | 465 downloads
  • #27,215
  • Sep 14, 2007 10:12am Sep 14, 2007 10:12am
Quoting Mysticdiver
I am fascinated by the Elliot Wave theory, but it seems very complex.
Can you recommend an understandable, basic text?


BTW I see you are not too far from Piptopia, do you ever get down there?
Actually, I have not been yet, but as I talk to Rob and get more acquainted I will. I know the area well though. I am going to go through all the reading that I have and hopefully I can find you something that is simple to understand about it. Also, search about it here on the forum.
I dream, therefore I become.
  • #27,216
  • Sep 14, 2007 10:12am Sep 14, 2007 10:12am
Who ever is buying is nuts in my opinion. Maybe it's the plunge protection team who knows.
I think the finacial system has lost all it's credibility and a lot of bears (like me) are really pissed off.
Besides this shit cost me some money.


Quoting Navigator
maybe we have to think like DOW traders.

T1..Retail sales are down mate
T2..Yeah..(thinks.."what's a retail"?)

T1..Michigan consumer sentiment up mate....burgers 10 cents off at Mac's!!
T2..Burgers 10 cents off!!!! Must be good...BUY, BUY!!!

Sorry....but you've got to wonder ....
  • #27,217
  • Sep 14, 2007 10:13am Sep 14, 2007 10:13am
Quoting dimmi
Do you really need that answered??
LOL,

just pointing out that we got one on the 15min AND the 30min charts....
The quality of your life is brought about by the quality of your thinking.
  • #27,218
  • Sep 14, 2007 10:14am Sep 14, 2007 10:14am
Quoting my2buoys
This 50EMA, when used with confluence of other indicators, is pretty powerful.

M2B
Hi, M2B, I still remember your 3 inside weeks, now looks like the 3rd one is going to complete. Hopefully, next week, we'll see some real trend.
  • #27,219
  • Sep 14, 2007 10:15am Sep 14, 2007 10:15am
Quoting Kurti
Who ever is buying is nuts in my opinion. Maybe it's the plunge protection team who knows.
I think the finacial system has lost all it's credibility and a lot of bears (like me) are really pissed off.
Besides this shit cost me some money.


You do realise that transactions take place which in effect are 'buying' or 'selling' this pair.. but are not people actually trading it like we are..
  • #27,220
  • Sep 14, 2007 10:15am Sep 14, 2007 10:15am
Quoting Kurti
Who ever is buying is nuts in my opinion. Maybe it's the plunge protection team who knows.
I think the finacial system has lost all it's credibility and a lot of bears (like me) are really pissed off.
Besides this shit cost me some money.
I agree. They can lose all the money they want. But those bastards better not cost me my money when I make the logical and sensible investment.
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