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

  • #48,501
  • Nov 7, 2007 8:35am Nov 7, 2007 8:35am
Quoting Nobita
I heard that Jay-Z the hiphop one don't want to be paid in dollar anymore. he wants euro.
First Gisele Bündchen and now Jay-Z? Looks like we will have a EUR/USD trend reversal soon.
  • #48,502
  • Edited 9:08am Nov 7, 2007 8:36am | Edited 9:08am
I don't have any current positions open, but I would not be comfortable with a long right now.

From this last down move we've completed a 38.2% retrace to 238.70 area. (I missed my short there b/c i was in a meeting) And that looks like its going to be fairly tough resistance from what I can tell. We could retrace 50% to the 239.20 however.

I'm going to take a small short position on a retrace to the 4hr 5sma at 238.41 100 pip stop and keep TP open. I really don't see us over 239.20 today.
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  • #48,503
  • Nov 7, 2007 8:37am Nov 7, 2007 8:37am
Is anyone else having problems with their platform being stuck right now???
  • #48,504
  • Nov 7, 2007 8:38am Nov 7, 2007 8:38am
i do much of reasoning than talking, i respect the view of some professional traders,i know karmo care enough, thats why i asked him, i dont know what yah all sweating for.
  • #48,505
  • Nov 7, 2007 8:42am Nov 7, 2007 8:42am
It is a great combart.......and as i am seeing it, pips we be crying hard.
  • #48,506
  • Nov 7, 2007 8:48am Nov 7, 2007 8:48am
Quoting moneyAA
Either way jump is suicidal unless u know MM and patience
U'll come out winner if u understand MONEYMANAGEMENT
Yes I do, Thank You moneyAA.
GLT
  • #48,507
  • Nov 7, 2007 8:54am Nov 7, 2007 8:54am
Quoting lepiricus
I don't have any current positions open, but I would not be comfortable with a long right now.

From this last down move we've completed a 38.2% retrace to 238.70 area. (I missed my short there b/c i was in a meeting) And that looks like its going to be fairly tough resistance from what I can tell. We could retrace 50% to the 239.20 however.

I'm going to take a small short position on a retrace to the 4hr 5sma at 239.41 100 pip stop and keep TP open. I really don't see us over 239.20 today.

Nice analysis...you must of meant that you might take a small short position at 238.41 and not 239.41?
  • #48,508
  • Nov 7, 2007 8:55am Nov 7, 2007 8:55am
Quoting lepiricus
I don't have any current positions open, but I would not be comfortable with a long right now.

From this last down move we've completed a 38.2% retrace to 238.70 area. (I missed my short there b/c i was in a meeting) And that looks like its going to be fairly tough resistance from what I can tell. We could retrace 50% to the 239.20 however.

I'm going to take a small short position on a retrace to the 4hr 5sma at 239.41 100 pip stop and keep TP open. I really don't see us over 239.20 today.
Lepiricus,

I agree, that was the purpose of my post. . .

I was short from 238.50, TP @ 237.15/20 area. Watched it bounced off the 38.2 fib on a 4hr chart (237.14) then flipped to long @ 237.28 and road it up to the 68.1% fib line from the last down move. Both ways (100+ pips)

I'm currently short @ 238.45 and plan to add to short up to the 78.6 fib (239.10 area) from the last down move because I see a lot of resistance above 239.35 area. . .

Also, I follow GBP/USD x USD/JPY which I have found to play a significant role in my analysis. . .

Reason for short;

- USD/JPY is in a downtrend right now targeting 111.00 and below. . . (also, its trading well below daily pivot)
2) GBP/USD has traded near the top of its channel for today (2.1074) high. channel top is at 2.101 or so. . . It's due for a retrace back to 2.0930/50 area and if it holds then it will resume above 2.101 lifting GBP/JPY with it some (depending on what USD/JPY is doing at the time).

Also, its my experience with GBP/JPY how it trades in the a.m. (4 A.M.-12.00 noon EST.) is typically how it ends the NY session touching either the low or the high for that day. . .

I know a lot of traders have targets for their trades that's why I was curious why the long position and the exepectation for the short-term.

feedback welcomed. . .
  • #48,509
  • Nov 7, 2007 8:58am Nov 7, 2007 8:58am
Quoting s.a.mabos
i do much of reasoning than talking, i respect the view of some professional traders,i know karmo care enough, thats why i asked him, i dont know what yah all sweating for.
I certainly wasn't sweating you and certainly was not questioning your newbie versus professional status. Newbie or pro...matters not to me. My point was that Karmo had discussed his long position earlier in the thread. It doesn't take much to spend some time and catch up. Try to find answers on your own...this in not a spoon feeding situation. I applaud you for making the pips you did today. Congradulations. I am not questioning your or anyones trading acumen. I am questioning the lack of regard for other peoples time. I am proud to be a newbie that has learned a lot from this thread and the people involved. But even I get irritated with the overwhelming sense of entitlement being portrayed and I am not the one being questioned about every little movement the market makes. I had finally had enough and I am sorry if you felt like a target, but I have learned so much from the people here I would hate to see it fade because people are treating it like a signal service. My $.02.
  • #48,510
  • Nov 7, 2007 8:59am Nov 7, 2007 8:59am
Quoting lepiricus
I don't have any current positions open, but I would not be comfortable with a long right now.

From this last down move we've completed a 38.2% retrace to 238.70 area. (I missed my short there b/c i was in a meeting) And that looks like its going to be fairly tough resistance from what I can tell. We could retrace 50% to the 239.20 however.

I'm going to take a small short position on a retrace to the 4hr 5sma at 239.41 100 pip stop and keep TP open. I really don't see us over 239.20 today.
I know you meant 238.41, Lep, but some of the newbies might not.

M2B
  • #48,511
  • Nov 7, 2007 9:02am Nov 7, 2007 9:02am
Is Aus Ever Coming Back Where Has He Been. Thought Vacation Was Over....
{Spam Removed}
  • #48,512
  • Nov 7, 2007 9:04am Nov 7, 2007 9:04am
Quoting Poocher
Nice analysis...you must of meant that you might take a small short position at 238.41 and not 239.41?
Oops, my bad. 238.41 indeed, trust me when I say its right on my pending order screen
  • #48,513
  • Nov 7, 2007 9:04am Nov 7, 2007 9:04am
Quoting Saintjay
Is Aus Ever Coming Back Where Has He Been. Thought Vacation Was Over....
auslanco has put everything right on the table for everyone (Thank you auslanco), all a person has to do is read, learn, and practice.
Trade what you see, not what you think.
  • #48,514
  • Nov 7, 2007 9:09am Nov 7, 2007 9:09am
Quoting karmostaji
auslanco has put everything right on the table for everyone (Thank you auslanco), all a person has to do is read, learn, and practice.
THAT WAS NOT THE POINT I TRADE MY SYSTEM HAVE FOR SIX YEARS, JUST MISSIN HEARING HIS OUTLOOK ON THINGS. BEEN WATCHING YOU THOUGH AND LOOKS GOOD FROM HERE....ROCK ON KARMO
{Spam Removed}
  • #48,515
  • Nov 7, 2007 9:11am Nov 7, 2007 9:11am
Asia, europe and London is most likely out of the market now. Only U.S. traders traders are active now, most likely. You can see from from this hourly chart exactly what happened. I drew the fib from the high to the low of this recent downmove. It retraced all the way up to the 61 fib. This tells me that they exited their short positions for now and took profits.
the price bounced at my 250 period moving (lime green) average. It retraced through the 100 ma (red) and peeked above the 55 ma (brown). It has respected this area as the 22 ma (the other green) and the 100 ma (aqua) are sitting above it. It is trying to resolve the 50% fib as i write this. It could retest lows later. It could test 61 fib later.

S&P is holding 1500 and Dow is holding 13,500 as of this post.
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  • #48,516
  • Nov 7, 2007 9:11am Nov 7, 2007 9:11am
Quoting Saintjay
THAT WAS NOT THE POINT I TRADE MY SYSTEM HAVE FOR SIX YEARS, JUST MISSIN HEARING HIS OUTLOOK ON THINGS. BEEN WATCHING YOU THOUGH AND LOOKS GOOD FROM HERE....ROCK ON KARMO
Dude...are u really shouting or just forgot the caps on ???
  • #48,517
  • Nov 7, 2007 9:13am Nov 7, 2007 9:13am
Quoting trente55
I certainly wasn't sweating you and certainly was not questioning your newbie versus professional status. Newbie or pro...matters not to me. My point was that Karmo had discussed his long position earlier in the thread. It doesn't take much to spend some time and catch up. Try to find answers on your own...this in not a spoon feeding situation. I applaud you for making the pips you did today. Congradulations. I am not questioning your or anyones trading acumen. I am questioning the lack of regard for other peoples time. I am proud to be a newbie that has learned a lot from this thread and the people involved. But even I get irritated with the overwhelming sense of entitlement being portrayed and I am not the one being questioned about every little movement the market makes. I had finally had enough and I am sorry if you felt like a target, but I have learned so much from the people here I would hate to see it fade because people are treating it like a signal service. My $.02.
You sound like a diplomat...the world needs more people like you! I don't communicate as well so don't feel able to say what you just did in a nice way. But it needs to be said to people who constantly bug the senior traders here so I hope you and others keep reminding questioners how lucky us learners are to be here...this is heaven for learning!
  • #48,518
  • Nov 7, 2007 9:18am Nov 7, 2007 9:18am
Quoting zoheir
Dude...are u really shouting or just forgot the caps on ???
yep, i hate capitalists too.
  • #48,519
  • Nov 7, 2007 9:19am Nov 7, 2007 9:19am
S&P broke 1500 and Dow broke 13,500 as i was posting my last chart, hourly bounced off the 50 fib and broke the 38 fib it should test test the daily low now unless /dow rallies.
  • #48,520
  • Nov 7, 2007 9:44am Nov 7, 2007 9:44am
Quoting ovaforty
S&P broke 1500 and Dow broke 13,500 as i was posting my last chart, hourly bounced off the 50 fib and broke the 38 fib it should test test the daily low now unless /dow rallies.
I am expecting a downturn here also.
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