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

  • #36,521
  • Oct 3, 2007 5:24pm Oct 3, 2007 5:24pm

same here @237.15...
so far so good for long to hold...

Quoting moneymagnet
stuck in 2 long positions 237.15 and 237.40. still debating whether to hold or exit for small loss and re-enter later, but i know as soon as i close it will shoot

"Analysis Is Hard But Trade Is Easy"
  • #36,522
  • Oct 3, 2007 5:26pm Oct 3, 2007 5:26pm
Quoting bmwboyee
imo, this wants to fall. i am looking at the 15m chart and there was a short signal at 237.45 and the cross of the hilo and QQE and momo is under 0. all on 15 minute chart.
Good morning every one,

Wait for the new Tokyo Pivot at 1900EST. We dont want to do the same mistake as yesterday.

Upside is upto 241.
downside is 233.50.
Weekly Gann is holding any upside movements..There are many technicals support barriers to the downside.
  • #36,523
  • Oct 3, 2007 5:26pm Oct 3, 2007 5:26pm
Quoting mktjong
There is a short opportunity for me if it closes below the cloud (see attached chart). Until then am busy working on my programming stuff
what do you use as a stop loss for this strategy?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #36,524
  • Oct 3, 2007 5:28pm Oct 3, 2007 5:28pm
Quoting moneymagnet
stuck in 2 long positions 237.15 and 237.40. still debating whether to hold or exit for small loss and re-enter later, but i know as soon as i close it will shoot
Remember:
1 - Don't marry your position.
2 - Patience seems to be much more apparent while waiting for a loosing trade to turn around than waiting for a winning trade to hit your TP.
Analyse why you took the position originally and confirm that it is still a good trade. If it is not then dump.
  • #36,525
  • Oct 3, 2007 5:28pm Oct 3, 2007 5:28pm
Take a look at U/J, is at a critical resistance area right now again and looks to be pulling back a little. A question is how much could it limit G/J's upside potential even if we have the interest statement tomorrow? If cable and G/J rally after the release it may pull U/J up a few points but more than likely it will be capped don't you guys think? Unemployment doesn't look good for the U.S tomorrow also which could also fuel the sterling/euro rockets but not by much i suspect. Is it fair to say that this quarters earnings have been priced in to the market? If not we will continue up. London and Asia will put us lower 1st today i tink.
"Only when the tide goes out will we know who is swimming naked."
  • #36,526
  • Oct 3, 2007 5:28pm Oct 3, 2007 5:28pm
I'm both long and short with a slight short bias. My plan is let it drop some, I think it should come down at least to 236.50 From there, I'll move my stop down to lock in profits on the shrots because things could get crazy late tonight with the BOE rate announcement. That's late tonight right? I figure, I'll be setting myself up for a win/win situation. If it tanks, I'm net short and if it rockets up, I'll get stopped out of the shorts with profit and I'll still have my original longs.

Wow, that sounds like an even better plan once I type it out and read it
check out my blog: forexmademillionaire dot com
  • #36,527
  • Oct 3, 2007 5:34pm Oct 3, 2007 5:34pm
Quoting auslanco
Good morning every one,

Wait for the new Tokyo Pivot at 1900EST. We dont want to do the same mistake as yesterday.

Upside is upto 241.
downside is 233.50.
Weekly Gann is holding any upside movements..There are many technicals support barriers to the downside.
Good evening Aus. I hope that you've had a good rest. Let's make some green pips tonight...Cheers. BR
  • #36,528
  • Oct 3, 2007 5:39pm Oct 3, 2007 5:39pm
Quoting auslanco
Good morning every one,

Wait for the new Tokyo Pivot at 1900EST. We dont want to do the same mistake as yesterday.

Upside is upto 241.
downside is 233.50.
Weekly Gann is holding any upside movements..There are many technicals support barriers to the downside.
GOOD NIGHT AUS
I HOPE YOU HAVE A FULL OF PIPS DAY
  • #36,529
  • Oct 3, 2007 5:39pm Oct 3, 2007 5:39pm
Here is some divergence on 5 min Oanda chart...
I will go short a soon as it will break trend line down.
What do you think guys?
Attached Image (click to enlarge)
Click to Enlarge Name: 5mGJ-100307-1835.jpg Size: 168 KB
Do not follow my trades. Trade what you see on your own charts.
  • #36,530
  • Oct 3, 2007 5:41pm Oct 3, 2007 5:41pm
Quoting rodders
Thought is was a reference to The "Domo Arigato" phrase in the song which in turn would be a reference to the JPY!
Now that you mentioned it, yes it also refers to the JPY thanks for all the PIP's "Domo Arigato" for trading mechanically like a robot...
  • #36,531
  • Oct 3, 2007 5:43pm Oct 3, 2007 5:43pm
Quoting igmak
Here is some divergence on 5 min Oanda chart...
I will go short a soon as it will break trend line down.
What do you think guys?
HI MY BUDD
DIVERGENCE IS A GOOD TOOL BUT THE LOWER THE TIMEFRAME THE LESS CONFIDENCE ON IT.
BUT THIS IS JUST MY OPINION.
  • #36,532
  • Oct 3, 2007 5:45pm Oct 3, 2007 5:45pm
Quoting bablo
Remember:
1 - Don't marry your position.
2 - Patience seems to be much more apparent while waiting for a loosing trade to turn around than waiting for a winning trade to hit your TP.
Analyse why you took the position originally and confirm that it is still a good trade. If it is not then dump.
can i be engaged
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #36,533
  • Oct 3, 2007 5:49pm Oct 3, 2007 5:49pm
238.53 is monthly 5sma.. If the price hits that level there will be a 200-300 pip bounce back.
  • #36,534
  • Oct 3, 2007 5:51pm Oct 3, 2007 5:51pm
Quoting Zoran
There is reasonble support at 236.5. If it prints then I'll say it will bounce off it (upwards).
Good evening Zoran,
I'm assuming you're using the 50 HSMA for 236.5,(maybe some Fibos on diff TF too). Take a look at the 4H 21SMA. (I know, you're thinking 21??. I take a look at different time frames from the Fibo sequence..5,8,13,21,34,etc...)
It's been spot on defining support since the baby bull run started.http://www.forexfactory.com/images/icons/icon12.gif
  • #36,535
  • Oct 3, 2007 5:52pm Oct 3, 2007 5:52pm
Quoting moneymagnet
what do you use as a stop loss for this strategy?
Good question. I would use whatever value is of the other side of cloud plus 20 pips. Just like yesterday, but I used wider stoploss, 20 pips below pivot just to be safe. It seems not like a good R:R ratio but as long as it works, it's ok
  • #36,536
  • Oct 3, 2007 5:52pm Oct 3, 2007 5:52pm
My daily pivot is at 236.90 looks like it wants to bounce from that level, lets see what it does.
  • #36,537
  • Oct 3, 2007 5:54pm Oct 3, 2007 5:54pm
Quoting auslanco
238.53 is monthly 5sma.. If the price hits that level there will be a 200-300 pip bounce back.
Dear ,is still waiting tokyo pivot
  • #36,538
  • Oct 3, 2007 5:57pm Oct 3, 2007 5:57pm
Quoting mktjong
Good question. I would use whatever value is of the other side of cloud plus 20 pips. Just like yesterday, but I used wider stoploss, 20 pips below pivot just to be safe. It seems not like a good R:R ratio but as long as it works, it's ok

im thinkin the same setup mkt
  • #36,539
  • Oct 3, 2007 5:58pm Oct 3, 2007 5:58pm
Quoting auslanco
238.53 is monthly 5sma.. If the price hits that level there will be a 200-300 pip bounce back.
Good Morning Aus,as you said,if we get over the weekly gann line,the trend will really change to upward right?

I find a MACD divergence on hourly,do you think Asian Pivot can hold,it is of minor importance than London.
  • #36,540
  • Oct 3, 2007 6:00pm Oct 3, 2007 6:00pm
Quoting Hakuna Matata
im thinkin the same setup mkt
HI HAK MY BUDD
WHY YOU DON'T PUT YOUR JOURNAL ADDRESS IN YOUR SIGNATURE????
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