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

  • #46,081
  • Oct 31, 2007 5:41am Oct 31, 2007 5:41am
Quoting zpltn
Aus, the momentum on weekley chart looks to be very bearish. Could you please check this and comment
yes 10C... Thats why I closed my longs at 5sma HIGH. That's as high as this price could go(Technically) since 10C doesnt support a upward movement beyond 5sma (HIGH). Since the 10C is bearish we could see a retracement doent to weekly 5sma CLOSE or lower before end of the week..
  • #46,082
  • Oct 31, 2007 5:42am Oct 31, 2007 5:42am
Quoting auslanco
which TF?
Monthly...(based on chart you posted earlier)
  • #46,083
  • Oct 31, 2007 5:43am Oct 31, 2007 5:43am
In reading some of the previous posts, "all time highs," has come up several times. Indeed the euro is setting a series of all time highs as a spot currency, but the pound(cable if you like) is no where near its all time highs. The pound high against the usd was i during the US Civil War, and 12.00. So those of you talking about pound all time highs, you have a long way to go.
  • #46,084
  • Oct 31, 2007 5:46am Oct 31, 2007 5:46am
Quoting Big Bruv
Welcome back...baby... I kinda missed you

Anywaz...i'm still learning to read momentum...
doesn't the fact that the 10c point up means that price is going up until over bought level? and then drop back to follow the 14c and 1c or is it that the 1c is the only one used to determine retracements???
10C is pointing down. 1C is pointing up( 5sma retracement).
  • #46,085
  • Oct 31, 2007 5:48am Oct 31, 2007 5:48am
as market goes,i think gbp/jpy has topped for today,so reverse starting now,headed down to 236.5
your opinion wanted
Ele
  • #46,086
  • Oct 31, 2007 5:49am Oct 31, 2007 5:49am
Everytime price hits the monthly 5sma there will be a bounce of atleast 500 pips since the monthly 10C momentum is bearish. It just hit the 5sma monthly. Will just wait and see.
  • #46,087
  • Oct 31, 2007 5:56am Oct 31, 2007 5:56am
first of all thanks a lot for that great efforts you do to the people here in that thread.
it is really big community here , and full of action .
i am still new in that kind of buisness, and i want to be a good trader like a lot of people here.
i already readed your book about the 1 min and 15 min and make the setting you advised , it really make a big differance and make sense to me.
i wanna stick to your experience i wanna learn coz i need to change the rule that control my trade and be a usefull part in that community.
sorry if i make it long on you and to my bad language coz english is not my first language...thank you a lot for your care and for all that efforts you do here.
  • #46,088
  • Oct 31, 2007 5:58am Oct 31, 2007 5:58am
Aus is this normal behaviour that the pair shot up before the IR announcement? The pair probably already took a .25% into account
  • #46,089
  • Oct 31, 2007 5:58am Oct 31, 2007 5:58am
Quoting auslanco
10C is pointing down. 1C is pointing up( 5sma retracement).

Sorry Aus ... i was looking at it wrong way round...by the way
  • #46,090
  • Oct 31, 2007 6:01am Oct 31, 2007 6:01am
Quoting Breeze
You are now really begining to sound like an ameture....why is there something called "Hedge funds"....anyway you are way below my league...i thought of you as a pro....but on a second thought...NOPE...you still got a long way to go.....I'm out dont bother to answer....

Breeze
Calm down Buddy, Aus is right - and you are right - just different approaches, I think what we have to keep in perspective on this thread is that there are a lot of new/inexperienced traders here trying to learn the business and that Aus in particular is trying to ensure that they dont lose their shirts. Hedging is a good tool, but you really have to understand the markets and have enough capital to weather the storm. Its my guess that many guys on here are not in that position, at least yet.

Hopefully if they apply good money management principles and learn to walk one step at a time they will eventually get there. We experienced guys have made all the mistakes there are to make - and then some, but we have survived and are happy to pass on our knowledge to those keen to learn.

So lets work together and not criticise each other eh. Different stroke for different folks !

Personally though I am with Aus and always have a SL in place - well 95% of the time.

We have to act responsibly here.

'nuff said.
  • #46,091
  • Oct 31, 2007 6:03am Oct 31, 2007 6:03am
The retracement I was referring to last night has already completed. It was a small one that went to 236.8 instead of 236.7. Price is now heading into stronger resistance (high 239s and 240s) as indicated yesterday.
  • #46,092
  • Oct 31, 2007 6:04am Oct 31, 2007 6:04am
Quoting Tiger Hunter
first of all thanks a lot for that great efforts you do to the people here in that thread.
it is really big community here , and full of action .
i am still new in that kind of buisness, and i want to be a good trader like a lot of people here.
i already readed your book about the 1 min and 15 min and make the setting you advised , it really make a big differance and make sense to me.
i wanna stick to your experience i wanna learn coz i need to change the rule that control my trade and be a usefull part in that community.
sorry if i make it long on you and to my bad language coz english is not my first language...thank you a lot for your care and for all that efforts you do here.
Welcome mate.. Yehh this is the forex action thread . But if you manage to learn something "good" thats bonus
  • #46,093
  • Oct 31, 2007 6:07am Oct 31, 2007 6:07am
Quoting vinesh2
Aus is this normal behaviour that the pair shot up before the IR announcement? The pair probably already took a .25% into account
It depends on how you interpret this action. This is not an everyday scenario. But you get similar movements just before most of the BoE or Fed rate announcements.
  • #46,094
  • Oct 31, 2007 6:07am Oct 31, 2007 6:07am
price has bounced from the daily 100 sma @ 238.93
  • #46,095
  • Oct 31, 2007 6:11am Oct 31, 2007 6:11am
i agree with you it is bonus , but it ia all depend on you and what you want to do .
i will be good hell trader and that is my word to you and every body here
make it my new signature.
  • #46,096
  • Oct 31, 2007 6:14am Oct 31, 2007 6:14am
Quoting musicman007
Calm down Buddy,

So lets work together and not criticise each other eh. Different stroke for different folks !


'nuff said.

Hey Andy, Good to see you back.
Well said mate. Just a different approach. My argument is simple. Before you dream of winning the bet you have to know how much you are willing to loose or risk.Thats the main part of a good money management strategy.
  • #46,097
  • Edited 6:36am Oct 31, 2007 6:25am | Edited 6:36am
Attached Image (click to enlarge)
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GBP/JPY Drop should come soon my friend..But not through Now and 1pmEST...Also I FEEL that rate cut will not change for two reason the for1 USD/JPY is going to gain strength.
Quoting auslanco
Everytime price hits the monthly 5sma there will be a bounce of atleast 500 pips since the monthly 10C momentum is bearish. It just hit the 5sma monthly. Will just wait and see.
  • #46,098
  • Oct 31, 2007 6:31am Oct 31, 2007 6:31am
25bp priced in? 50bp priced in?

My thoughts are that it won't matter if the Fed cuts 25bp or doesn't cut rates at all, we should see a sell-off in GU and GJ, but if the Fed cuts by 50bp then I really don't know how will the investors react to that.


Technical analysis says we should see a fall in GJ, GU, and EU (I follow these), correction or reversal doesn't matter, but I see that they should fall.

So, if you are not in a trade then it's best to stay out until the Fed announcement.
Trade what you see, not what you think.
  • #46,099
  • Oct 31, 2007 6:34am Oct 31, 2007 6:34am
Quoting turn1to100
Attachment GBP/JPY Drop should come soon my friend..But not through Now and 1pmEST...Also I FEEL that rate cute will not change for two reason the for1 USD/JPY is going to gain strength.

How did you come up with that Time frame.. My charts says there could be a retracement down to 237 area before 1EST and a further fall through-out the US session.
  • #46,100
  • Oct 31, 2007 6:35am Oct 31, 2007 6:35am
Two
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Quoting turn1to100
Attachment GBP/JPY Drop should come soon my friend..But not through Now and 1pmEST...Also I FEEL that rate cut will not change for two reason the for1 USD/JPY is going to gain strength.
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