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

  • #43,401
  • Oct 23, 2007 5:38pm Oct 23, 2007 5:38pm
Quoting PipChick
I could be missing something. Especially cause everyone else is short and I am long.
Pipchick where was your entry and how did you choose it? I was hoping for it to go back to the 30min ema and bounce thats where last night bounce happened as well...thx
  • #43,402
  • Oct 23, 2007 5:39pm Oct 23, 2007 5:39pm
Something to look out for, the 200ema on 4h chart. We all know that when GJ was in the range of 228-235 couple of months ago, 200 ema was a tough cookie to crack, well guess what.. it is being a tough one again, 1 hour n 20 mins to go for my 4h candle to close, should be interesting.
Trade what you see, not what you think.
  • #43,403
  • Oct 23, 2007 5:44pm Oct 23, 2007 5:44pm
Quoting khmr
Pipchick where was your entry and how did you choose it? I was hoping for it to go back to the 30min ema and bounce thats where last night bounce happened as well...thx
khmr,
check posts 43220, 43228, 39 and 51 for your answer.
  • #43,404
  • Oct 23, 2007 5:45pm Oct 23, 2007 5:45pm
Quoting karmostaji
Different styles of trading, you grab your pips now and we'll have them later, you know ladies first..
I just wish market would know how nice you are and reward you later
It's a good time to practicing your PATIENCE, buddy
  • #43,405
  • Oct 23, 2007 5:46pm Oct 23, 2007 5:46pm
Quoting PipChick
I dont see any downward pressure at all. All I see is up. Especially since the new 4 hr candle. hmmmmmmmmm maybe I am missing something.
I see the daily opened barely above the 50% of the fall back in July and aug.
Nice catch
  • #43,406
  • Oct 23, 2007 5:48pm Oct 23, 2007 5:48pm
I too am preparing for a short, possibly for different reasons to others but the main reasons are the rejection of the resistance at the 235.80 level a couple of hours ago, where the 4H 50 and 200 MA's are, and the 1H 200 MA is. If it is going to retrace (we've gone up steadily 500 pips without a real 'low' on the 1H and 4H charts), then there is no better spot. Plus, the R:R is good, if it breaks this line I know I'm wrong and I'm out, but if I'm right I should book a conservative 60 to 100 pips, possibly more.
Attached Image (click to enlarge)
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  • #43,407
  • Oct 23, 2007 5:49pm Oct 23, 2007 5:49pm
Quoting mktjong
Nice catch
  • #43,408
  • Oct 23, 2007 5:49pm Oct 23, 2007 5:49pm
Quoting mktjong
I just wish market would know how nice you are and reward you later
It's a good time to practicing your PATIENCE, buddy
LOL It could take until London open for the market to reward me, so yah patience.
Trade what you see, not what you think.
  • #43,409
  • Oct 23, 2007 5:53pm Oct 23, 2007 5:53pm
Quoting PipChick
Will keep buying at the 235.10 area and scaling out at the 80 area until it breaks or it doesnt.(tight stops for small risk)
  • #43,410
  • Oct 23, 2007 5:53pm Oct 23, 2007 5:53pm
Quoting karmostaji
Different styles of trading, you grab your pips now and we'll have them later, you know ladies first..
Why wouldn't you grab at least 100 of that rather than waiting for it to turn?

I am very confused, hoping to figure this out over the next couple of days. 280 pips straight up since 5am central, yet almost everyone is trying to catch a short. It seems to me that a long would have been the safest play today, but I must be missing something. Can someone help?

thanks.
  • #43,411
  • Oct 23, 2007 5:53pm Oct 23, 2007 5:53pm
Quoting birdt
I too am preparing for a short, possibly for different reasons to others but the main reasons are the rejection of the resistance at the 235.80 level a couple of hours ago, where the 4H 50 and 200 MA's are, and the 1H 200 MA is. If it is going to retrace (we've gone up steadily 500 pips without a real 'low' on the 1H and 4H charts), then is there no better spot. Plus, the R:R is good, if it breaks this line I know I'm wrong and I'm out, but if I'm right I should book a conservative 60 to 100 pips, possibly more.
It's like looking in a mirror.
"Timing Is Everything. Really I Swear It Is"
  • #43,412
  • Oct 23, 2007 5:55pm Oct 23, 2007 5:55pm
Quoting loebjm
Why wouldn't you grab at least 100 of that rather than waiting for it to turn?

I am very confused, hoping to figure this out over the next couple of days. 280 pips straight up since 5am central, yet almost everyone is trying to catch a short. It seems to me that a long would have been the safest play today, but I must be missing something. Can someone help?

thanks.
I have been a long trader all day Loeb.
  • #43,413
  • Oct 23, 2007 5:56pm Oct 23, 2007 5:56pm
Quoting loebjm
Why wouldn't you grab at least 100 of that rather than waiting for it to turn?

I am very confused, hoping to figure this out over the next couple of days. 280 pips straight up since 5am central, yet almost everyone is trying to catch a short. It seems to me that a long would have been the safest play today, but I must be missing something. Can someone help?

thanks.
I dont see a safe short for a while. But thats just my style of trading.
If it does go short, i will wait and buy at the 233.65 area.
  • #43,414
  • Oct 23, 2007 5:58pm Oct 23, 2007 5:58pm
mornin'
  • #43,415
  • Oct 23, 2007 5:58pm Oct 23, 2007 5:58pm
Did you guys notice bullish engulfing daily candlestick formation?
  • #43,416
  • Oct 23, 2007 5:58pm Oct 23, 2007 5:58pm
Quoting Hakuna Matata
mornin'
Morning Hakuna
  • #43,417
  • Oct 23, 2007 6:00pm Oct 23, 2007 6:00pm
Quoting comeinvest
Did you guys notice bullish engulfing daily candlestick formation?
The main thing I notice is the open above the 50% fib on the daily. Thats not to say it couldnt come back down beneath it tho.
  • #43,418
  • Oct 23, 2007 6:02pm Oct 23, 2007 6:02pm
Quoting loebjm
Why wouldn't you grab at least 100 of that rather than waiting for it to turn?

I am very confused, hoping to figure this out over the next couple of days. 280 pips straight up since 5am central, yet almost everyone is trying to catch a short. It seems to me that a long would have been the safest play today, but I must be missing something. Can someone help?

thanks.
well I have a life and was busy with it during the day, so I don't want to long where to me it seems the top. I don't scalp nor go for 20-40 pips.
Trade what you see, not what you think.
  • #43,419
  • Oct 23, 2007 6:03pm Oct 23, 2007 6:03pm
Quoting comeinvest
Did you guys notice bullish engulfing daily candlestick formation?
http://www.actionforex.com/articles_..._200605107114/
Trade what you see, not what you think.
  • #43,420
  • Oct 23, 2007 6:04pm Oct 23, 2007 6:04pm
What's this? 200 MA (Orange) on the daily chart as well. All these within about 3 pips of each other!
Attached Image (click to enlarge)
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