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

  • #27,901
  • Sep 17, 2007 9:12am Sep 17, 2007 9:12am
Quoting karmostaji
Possible retrace to 229.70 area

I'll go short from there once I get 5/15m signal and TP will be 227.50
229.70 sounds good at the 5sma and 50/61.8 fib confluence huh?
"Only when the tide goes out will we know who is swimming naked."
  • #27,902
  • Sep 17, 2007 9:13am Sep 17, 2007 9:13am
Quoting pipped oFF
229.70 sounds good at the 5sma and 50/61.8 fib confluence huh?
correct, it is also the 50% fib from this last down leg
Trade what you see, not what you think.
  • #27,903
  • Sep 17, 2007 9:14am Sep 17, 2007 9:14am
Quoting AlphaGA
I wonder what triggered that ride down, was it the dow crossing below 13400 and/or something else?

~G.
Aus will tell you different, but I am confident it was the break in the stock market that triggered the selloff. This movement makes me hopeful that we will see a big market selloff starting in a little less than 2 hours. 13300 would be easy, and 13250 is possible.

Lets face it, the safest place to have your money tomorrow is under your bed. Big positions in the stock market, or the forex market could be painful
  • #27,904
  • Sep 17, 2007 9:14am Sep 17, 2007 9:14am
It was that support plus last weeks rally + fed day tomorrow = profit taking.
"Only when the tide goes out will we know who is swimming naked."
  • #27,905
  • Sep 17, 2007 9:18am Sep 17, 2007 9:18am

... and there are talks of the UK Alliance & Leicester bank having mortgage related trouble...

  • #27,906
  • Sep 17, 2007 9:19am Sep 17, 2007 9:19am
Quoting AlphaGA
I wonder what triggered that ride down, was it the dow crossing below 13400 and/or something else?

~G.
I don't think it was the Dow. See post #27858. Price broke some kind of support.
  • #27,907
  • Sep 17, 2007 9:26am Sep 17, 2007 9:26am
Hi karmo,

please tell me, which stop loss would you set if we would get a short at 229,70 and why (fib line, tl,...)?

This is my biggest problem, to set a "good" stop loss, thank you brother for your work and time. Thank you and Aus 100,000 times

Bye

Eugen

Quoting karmostaji
correct, it is also the 50% fib from this last down leg
  • #27,908
  • Sep 17, 2007 9:27am Sep 17, 2007 9:27am
dollar gaining some ground against most majors. wonder if the big players expect 25 bp cut instead 50 bp or if its just acting as a better option considering what happened with uk
  • #27,909
  • Sep 17, 2007 9:28am Sep 17, 2007 9:28am
Quoting eugen3000
Hi karmo,

please tell me, which stop loss would you set if we would get a short at 229,70 and why (fib line, tl,...)?

This is my biggest problem, to set a "good" stop loss, thank you brother for your work and time. Thank you and Aus 100,000 times

Bye

Eugen
Hi Eugen,

Using a good SL with this beast is definitely a problem, the way I do it is use good money management and set my SL 100-200 pips (1-2% of my account balance), and as soon as the trade goes my way let's say about 50 pips or so, I move my SL to b/e or lock in a very small # of pips.
Trade what you see, not what you think.
  • #27,910
  • Sep 17, 2007 9:36am Sep 17, 2007 9:36am
Karm, out of the two new nick names which one do you prefer?

Karmonacci

or

Fibostaji



ok not funny...
"Only when the tide goes out will we know who is swimming naked."
  • #27,911
  • Sep 17, 2007 9:40am Sep 17, 2007 9:40am
I went short at 15m retrace, 5m candle shows reversal to downside, dont know if we will get the 1hr retrace
Trade what you see, not what you think.
  • #27,912
  • Sep 17, 2007 9:42am Sep 17, 2007 9:42am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting pipped oFF
Karm, out of the two new nick names which one do you prefer?

Karmonacci

or

Fibostaji



ok not funny...
I think we should just call him Calm, as this is how he trades LOL

Karmo, your patcience is well respected.
  • #27,913
  • Sep 17, 2007 9:43am Sep 17, 2007 9:43am
Quoting MPP
I think we should just call him Calm, as this is how he trades LOL

Karmo, your patcience is well respected.
Patience is the key, if a trader panics and worries.. how in the blue would he be able to trade lol
Trade what you see, not what you think.
  • #27,914
  • Sep 17, 2007 9:49am Sep 17, 2007 9:49am
do u mean u went short @38.2% retrace fib?

Quoting karmostaji
I went short at 15m retrace, 5m candle shows reversal to downside, dont know if we will get the 1hr retrace
  • #27,915
  • Sep 17, 2007 9:54am Sep 17, 2007 9:54am
Quoting karmostaji
Patience is the key, if a trader panics and worries.. how in the blue would he be able to trade lol
I like the doji developing on the 30 min chart.
  • #27,916
  • Sep 17, 2007 9:57am Sep 17, 2007 9:57am
Quoting fourxtrader
I like the doji developing on the 30 min chart.
Agreed.
I dream, therefore I become.
  • #27,917
  • Sep 17, 2007 9:59am Sep 17, 2007 9:59am
Quoting fourxtrader
I like the doji developing on the 30 min chart.

What doji ? i can't see any doji
COT: The precious data ignored
  • #27,918
  • Sep 17, 2007 10:01am Sep 17, 2007 10:01am
not anymore hahaha, it was nice tho at the moment, but just gave way to a higher price.
I dream, therefore I become.
  • #27,919
  • Sep 17, 2007 10:04am Sep 17, 2007 10:04am
looks like bulls are doing well, i should have adjusted my t/p higher.. t/p hit 35pips .

anyone going short?
  • #27,920
  • Sep 17, 2007 10:06am Sep 17, 2007 10:06am
Im short from 232.45. I feel that it is just going through its retracement phase, and from here we will see another drop as 229.79 was the 50% on my charts anyways.
I dream, therefore I become.
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