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

  • #36,921
  • Oct 4, 2007 11:01am Oct 4, 2007 11:01am
Quoting markam
My stop is just high enough to let Zoran get his 238.
Im short, doji on 1 hour, new 30m, 1hr, and 4hr momo is down
  • #36,922
  • Oct 4, 2007 11:02am Oct 4, 2007 11:02am
Quoting GJ_Trader
First of all, sorry for my bad English.

I think we could see a double top on 1h chart at 237.80-237.90 levles

and the target of this pattern is 236.00

Best regard
your english is fine. I also agree with you and think we should be in the 236 area at the time of the employment report.
  • #36,923
  • Oct 4, 2007 11:02am Oct 4, 2007 11:02am
I just went short on EJ. Looks like that wedge is just about broken. Could this be the BIG one? Just when everyone is long? (except me)

Only joking

Z
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  • #36,924
  • Oct 4, 2007 11:06am Oct 4, 2007 11:06am
Quoting markam
My stop is just high enough to let Zoran get his 238.
My stop is badly positioned just below that level. Unfortunately my runner didn't get a very good entry as price was moving too fast. But maybe someone with deep pockets is on my side!
  • #36,925
  • Oct 4, 2007 11:06am Oct 4, 2007 11:06am
Quoting Geppy
I've known a lot of people that sell because prices are "too high" or buy because they are "too low". Needless to say, none of these same people are traders today, but there's always reincarnated versions of them to help me remember them.
I only trade what the charts give me permission to trade and I am long..lol Hope Markam isnt right!! lol..
But on a serious note, we do have to make sure to keep our stops either Break even or in profits at this point because of NFP. The daily chart is telling me continued longs on a technical perspective (crossings of the major MA's) but NFP can overcome any technical setup temporairly. (IMO)
  • #36,926
  • Oct 4, 2007 11:07am Oct 4, 2007 11:07am
Quoting markam
My stop is just high enough to let Zoran get his 238.
your short should be safe, 4hr 5sma retrace is due (237.15)
Trade what you see, not what you think.
  • #36,927
  • Oct 4, 2007 11:10am Oct 4, 2007 11:10am
34EMA (5M) gives excellent support, break belove could give downside
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Measure twice, cut once
  • #36,928
  • Oct 4, 2007 11:11am Oct 4, 2007 11:11am
Quoting markam
I hope everybody exited their long, because that was it.

Actually, probably not, but I entered a short with a tight stop if it was. I am not going long unless the employment report is positive for the stock market.
No, not until 238 is hit, then it can do whatever it pleases http://www.forexfactory.com/images/icons/icon10.gif
Btw, US treasuries is entering red territory, as well as Europe's. Just another reference to look at. But this pair is quite resilient due to carry trade I guess as BOE rate didn't change. As for me would wait till US closes, quite confusing now .. exercising discipline again http://www.forexfactory.com/images/icons/icon10.gif
  • #36,929
  • Oct 4, 2007 11:12am Oct 4, 2007 11:12am
Pipchick, I'm long and strong also . . . no worries here
check out my blog: forexmademillionaire dot com
  • #36,930
  • Oct 4, 2007 11:15am Oct 4, 2007 11:15am
Quoting let'erpip
Yesterday I found out that Karmo is only 22 years old!! Hard to believe. You are a very wise person, Karm, for a youngster. Yes, we should not forget to "live life" apart from these computer screens. Good luck with your exams, and of course, with your trades!
Thank you let'erpip
Trade what you see, not what you think.
  • #36,931
  • Oct 4, 2007 11:18am Oct 4, 2007 11:18am
Quoting Geppy
Pipchick, I'm long and strong also . . . no worries here
Nope and I just booked a little (will leave the rest on this trade with a BE stop for a 238.48 target) May enter a new trade around the 237.00 area or 236.80 (if it gets there)with a shorter term tp of about 237.50
  • #36,932
  • Oct 4, 2007 11:20am Oct 4, 2007 11:20am
Quoting markam
your english is fine. I also agree with you and think we should be in the 236 area at the time of the employment report.
Thanks markam

As you know that the GJ=GU*UJ

and based on the above formula any decrease or increase on GU or UJ will directly affect on GJ, so the 2 pairs are a leading indecaitor for GJ

if you take a look at GU dailly chart you will understand what i mean


GU dailly chart
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Trade at your own Risk
  • #36,933
  • Oct 4, 2007 11:22am Oct 4, 2007 11:22am
Quoting Geppy
Pipchick, I'm long and strong also . . . no worries here

Not even a little worry?
  • #36,934
  • Oct 4, 2007 11:27am Oct 4, 2007 11:27am
Quoting mktjong
No, not until 238 is hit, then it can do whatever it pleases http://www.forexfactory.com/images/icons/icon10.gif
Btw, US treasuries is entering red territory, as well as Europe's. Just another reference to look at. But this pair is quite resilient due to carry trade I guess as BOE rate didn't change. As for me would wait till US closes, quite confusing now .. exercising discipline again http://www.forexfactory.com/images/icons/icon10.gif
237.85 is the high on my platform and for someone that has a 15 pip spread, that's 238 (ask)! Good enough for me!
Sometimes we need to be a little flexible.
  • #36,935
  • Oct 4, 2007 11:30am Oct 4, 2007 11:30am
Quoting markam
Not even a little worry?
lol...we wouldnt be human if we had NO worry..lol. Are we human Geppy?lol
As long as I dont move my stop from BE to neg BE I wont worry..lol
ONE of the biggest mistakes I have made during my early days in this crazy fx world is not booking some of the profits when I am up 50 pips or so and moving up the stop. I learned the hard way that greed will not only take your positive pips but will send you into negative territory. So book them profits when you have them and move stops to at least BE.
  • #36,936
  • Oct 4, 2007 11:31am Oct 4, 2007 11:31am
Quoting Zoran
237.85 is the high on my platform and for someone that has a 15 pip spread, that's 238 (ask)! Good enough for me!
Sometimes we need to be a little flexible.
ROFL Zoran!!! when long we talk bid and when short we talk ask..lol
Just funnin ya.
  • #36,937
  • Oct 4, 2007 11:36am Oct 4, 2007 11:36am
Quoting markam
Not even a little worry?
Not one bit. And to answer another question, I've been doing this long enough to abandon human nature while I trade so no, I guess I'm not human while trading.
check out my blog: forexmademillionaire dot com
  • #36,938
  • Oct 4, 2007 11:37am Oct 4, 2007 11:37am
Good morning,

This pair is really crazy! It almost reached 238 while I was comatose..I apologize to the newbies asking last night..I'm glad Markam, the expert, has replied. I am suffering from sleeping sickness and can drop off anytime..

For newbies, there is this free magazine that I find useful

1. Download this issue at www.currencytradermag.com/dfe23.htm
2. Download last month's issue at www.currencytradermag.com/uiu46.htm
Happy Trading! BR
  • #36,939
  • Oct 4, 2007 11:37am Oct 4, 2007 11:37am
Can't get much lower then 36 EMA (starting to flat out), might enough fuel for a new .84 test
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Measure twice, cut once
  • #36,940
  • Oct 4, 2007 11:39am Oct 4, 2007 11:39am
Just something to add to the mix.

I think you could set your 'pip watch' on the 1600 GMT throughout
the GJ 4HR charts for peaks and retracements. I count 9 such patterns
(major and minor) dating back to 12 Sept '07. And here we go again.

Some have been good for 200 - 400 pips.
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