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

  • #43,961
  • Oct 24, 2007 10:54am Oct 24, 2007 10:54am
caught a quick 50 pips on the retrace. Considering how well I have already done today, that really seemed like stealing
  • #43,962
  • Oct 24, 2007 10:54am Oct 24, 2007 10:54am
Quoting karmostaji
I have 1 right now, which is from 240.64 to 230.26

price retraced to the 50% (235.45), was rejected and went back to 23.6% (232.71), now I expect it to go all the way up to 61.8% (236.67)

I'll wait for confirmation to go long.
hala
itther any evtrey now
  • #43,963
  • Oct 24, 2007 10:55am Oct 24, 2007 10:55am
Quoting DollaBill
Long positions above 233.11 with targets @ 234.77 & 235.92 in extension. Anyone agree? Got this from a reliable source
I'm long from 233.10 TP 234.60
  • #43,964
  • Oct 24, 2007 10:55am Oct 24, 2007 10:55am
Quoting karmostaji
I have 1 right now, which is from 240.64 to 230.26

price retraced to the 50% (235.45), was rejected and went back to 23.6% (232.71), now I expect it to go all the way up to 61.8% (236.67)

I'll wait for confirmation to go long.
I am using a automated fib tool does not give the same set up as you discribe. Would you have time to show illustration showing your fib set up.

Thank you in advance
  • #43,965
  • Oct 24, 2007 10:59am Oct 24, 2007 10:59am
Quoting karmostaji
I have 1 right now, which is from 240.64 to 230.26

price retraced to the 50% (235.45), was rejected and went back to 23.6% (232.71), now I expect it to go all the way up to 61.8% (236.67)

I'll wait for confirmation to go long.
Question for the g/j fibo master......when you are looking for a trade on a 50% or some fib do you try and catch the bounce when it hts the price or do you wait and see how it reacts at that level? What are you using for stops?
  • #43,966
  • Oct 24, 2007 10:59am Oct 24, 2007 10:59am
Quoting RoWkIlLa
I'm long from 233.10 TP 234.60
long 233.74 tp 234.70
  • #43,967
  • Oct 24, 2007 11:00am Oct 24, 2007 11:00am
Quoting wired2199
I am using a automated fib tool does not give the same set up as you discribe. Would you have time to show illustration showing your fib set up.

Thank you in advance
sure, here's a chart, the green fib

http://img505.imageshack.us/img505/916/gjkm1.gif
Trade what you see, not what you think.
  • #43,968
  • Oct 24, 2007 11:01am Oct 24, 2007 11:01am
Recent move from 234.65 bid to 232.74 bid on Saxo Bank platform

50% retracement = 233.695

High Bid in last retracement = 233.72

Lets see if it holds

Viva La 50%!
"Timing Is Everything. Really I Swear It Is"
  • #43,969
  • Oct 24, 2007 11:02am Oct 24, 2007 11:02am
Quoting cotoho
Question for the g/j fibo master......when you are looking for a trade on a 50% or some fib do you try and catch the bounce when it hts the price or do you wait and see how it reacts at that level? What are you using for stops?
I wait and see how price reacts and for possible reversal sign candlesticks, most of the time my SL is 100 pips and as soon as my trade goes my way 50 pips or so, I move it to BE and then let it ride.
Trade what you see, not what you think.
  • #43,970
  • Oct 24, 2007 11:04am Oct 24, 2007 11:04am
Quoting shahroodi
what is your reason my budd???
i ill be appreciated if see your reason on chart.
I have a subscription to fxcm and they give you regular analysis of the different currencies. For this particular currency it states this:

Title: GBP/JPY intraday: rebound expected Summary: Update on supports and resistances. Story: Pivot: 233.11

Our preference: Long positions above 233.11 with targets @ 234.77 & 235.92 in extension.

Alternative scenario: Below 233.11 look for further downside with 232.3 & 231.66 as targets.

Comment: the RSI is mixed to bullish, the pair should post a rebound.
  • #43,971
  • Oct 24, 2007 11:05am Oct 24, 2007 11:05am
DJIA
Do you think this will retrace much ? Or will we see another Friday ?
Seems to be very weak.
  • #43,972
  • Oct 24, 2007 11:06am Oct 24, 2007 11:06am
I'm long from 233.57, I explained my reasons a couple of posts back. Let's see what can we get out of this trade
Trade what you see, not what you think.
  • #43,973
  • Oct 24, 2007 11:06am Oct 24, 2007 11:06am
I love market conditions right now. My trade winning percentage is 80+% for the past few weeks. It is amazing how fast you can grow your account with an 80% win rate.
  • #43,974
  • Oct 24, 2007 11:06am Oct 24, 2007 11:06am
Here's there chart
Attached Image
  • #43,975
  • Oct 24, 2007 11:08am Oct 24, 2007 11:08am
Quoting DollaBill
I have a subscription to fxcm and they give you regular analysis of the different currencies. For this particular currency it states this:

Title: GBP/JPY intraday: rebound expected Summary: Update on supports and resistances. Story: Pivot: 233.11

Our preference: Long positions above 233.11 with targets @ 234.77 & 235.92 in extension.

Alternative scenario: Below 233.11 look for further downside with 232.3 & 231.66 as targets.

Comment: the RSI is mixed to bullish, the pair should post a rebound.
tks my budd
but remeber this not a 200-300 pips retrace,i think- based on momentom analys-retrace will be to 4hr TF 5sma.
tks agian for ur inofo. sharing.
  • #43,976
  • Oct 24, 2007 11:10am Oct 24, 2007 11:10am
Quoting shahroodi
tks my budd
but remeber this not a 200-300 pips retrace,i think- based on momentom analys-retrace will be to 4hr TF 5sma.
tks agian for ur inofo. sharing.
how about this is not a retracement but rather trend continuation, well that's what I'm seeing now on my chart.
Trade what you see, not what you think.
  • #43,977
  • Oct 24, 2007 11:13am Oct 24, 2007 11:13am
Quoting karmostaji
how about this is not a retracement but rather trend continuation, well that's what I'm seeing now on my chart.
I agree with the trend continuation. This is just the first wave out of maybe a few more to come. It shows this on the 4 hr chart and tells you with this indicator below
Attached File(s)
File Type: mq4 FF Tunnel Chart.mq4   6 KB | 447 downloads
  • #43,978
  • Oct 24, 2007 11:13am Oct 24, 2007 11:13am
Quoting DollaBill
Here's there chart
i am long too,from 233.53.
1hr ago i take it.but as i said,i expect max retrace to 234-234.10 area.
tks for ur chart.
keep go on with analyse.
  • #43,979
  • Oct 24, 2007 11:13am Oct 24, 2007 11:13am
Quoting karmostaji
I have 1 right now, which is from 240.64 to 230.26

price retraced to the 50% (235.45), was rejected and went back to 23.6% (232.71), now I expect it to go all the way up to 61.8% (236.67)

I'll wait for confirmation to go long.

Karmo.I have been trying to figure this out just watching what is going on in here. I am totally amazed with the sometimes pinpoint acurate predictions you and some of the other guys {Aus, H.Mn Bruce etc. (pipchick had pants but that didn't cut it for me). I wanted to learn more than just ask and follow your trades. So... with the fib... you went from a high, which I can see makes sence, but why out of curiosity did you plave the low fib point on the 2nd to bottom candle's bottom? I thought fib lines went from tops to tops or bottons to bottoms. Doesn't it matter much?
There is no greater gift than to be a friend.
  • #43,980
  • Oct 24, 2007 11:14am Oct 24, 2007 11:14am
Quoting Rustyyy
DJIA
Do you think this will retrace much ? Or will we see another Friday ?
Seems to be very weak.
I honestly don't have a clue. I think it won't go any lower today, but I could easily be wrong. I am out of the market at least until asia.
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