I took a short on gbp/usd at 2.0498 going for at least 120pips down.
SL will be at 2.0540.
Hopefully it will be range.
SL will be at 2.0540.
Hopefully it will be range.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #43,323
- Oct 23, 2007 12:41pm Oct 23, 2007 12:41pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
- #43,324
- Oct 23, 2007 12:47pm Oct 23, 2007 12:47pm
- | Joined Oct 2007 | Status: Trader | 1,236 Posts
I hope all the shorts get their pips before we go north.
"Timing Is Everything. Really I Swear It Is"
- #43,331
- Oct 23, 2007 1:23pm Oct 23, 2007 1:23pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
- #43,333
- Oct 23, 2007 1:35pm Oct 23, 2007 1:35pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
- #43,334
- Oct 23, 2007 1:37pm Oct 23, 2007 1:37pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
Do you mind sharing what level would invalidate your inverted HS scenario?
- #43,335
- Oct 23, 2007 1:41pm Oct 23, 2007 1:41pm
Hi M2B. I always respect your analysis and opinions. But let's also keep in mind the original purpose of this thread, as stated by the originator:
"Dear traders....
I decided to start my own thread because there are some other great traders who can provide very valuable analysis of GBP/JPY on the other thread , and I feel that my trade calls are overshadowing those good analysis contributed by other experienced traders.
This thread is mainly focused for new traders who want to learn my trading methods."
Just my two yen's worth . . .
. I bet that thousand pips have been raining on you. Congratulations!Anyhow, I hope that you do not mind my red font in quoting you. I also enjoy M2B's analysis tremendously. However, I wonder why that the old thread is for analysis but it seems that many competent analysts like to go to this thread for newbies
. Just my 2 (Canadian) cents worth. Happy Trading to You all! BR
- #43,336
- Oct 23, 2007 1:51pm Oct 23, 2007 1:51pm
Well-said! Pips_Cruiser! I saw that you have changed your mode of travelling from cruising by car to sailing
Anyhow, I hope that you do not mind my red font in quoting you. I also enjoy M2B's analysis tremendously. However, I wonder why that the old thread is for analysis but it seems that many competent analysts like to go to this thread for newbies
Just my 2 (Canadian) cents worth. Happy Trading to You all! BR
just remember that you was one of those newbies one day , it is really weird that some people forgot who was they ........
- #43,338
- Oct 23, 2007 2:07pm Oct 23, 2007 2:07pm
- | Membership Revoked | Joined Sep 2007 | 4,407 Posts
Do you mind sharing what level would invalidate your inverted HS scenario?
I dont consider it an inverse h/s just as yet. For a true inverse h/s, the rt shoulder needs to be higher than the left. That is why I mention that the price needs to trade above and form a shelf (rt shoulder) above the 235.10 price. It just opened above as I am writing this. So now I will watch for it to build that shelf. I may scalp a bit until the shelf is complete so I can hold a final trade for the NL break. Scalp meaning buy off the rt shoulder that is forming and take profits at the hi over and over again until it finally breaks the NL. If I scalp it, I will always have a tight stop. Ihope that helps.