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

  • #49,341
  • Nov 9, 2007 9:37am Nov 9, 2007 9:37am
Gene what is your target on the downside?
  • #49,342
  • Nov 9, 2007 9:37am Nov 9, 2007 9:37am
Should we expect a reteacement soon?
Losers Complain, Winners Train! Utah
  • #49,343
  • Nov 9, 2007 9:38am Nov 9, 2007 9:38am
Quoting gene22
A word of advise, never, ever, unless you can read charts like the back of your hand, and then still don't, try to pick the top or bottom on Friday!!!!
Anything less that sma. ema, 50, 100, 200 on the WEEKLY, ARE NOT safe, I'm nor even mentioning wise. Can't believe I'm reading crap about people attemting longs, are you suicidal?, Unless you scalp, 5sec to a 5 min hold max, I wouldn't be caught dead trying to go long...
thank you gene, i was going to write something similar but then thought it's not worth the time away from my charts, nobody seems to listen, it's their money after all, but i guess u have a better heart than mine
  • #49,344
  • Nov 9, 2007 9:40am Nov 9, 2007 9:40am
Quoting markam
I have a feeling people are expecting the magic economy fairy to appear and pull a bull out of his ass.
Brother, you are funny!!
  • #49,345
  • Nov 9, 2007 9:41am Nov 9, 2007 9:41am
Quoting markam
My opinion is that we won't see a major sell-off today. The dow is down over 500 points since Tuesday, so I think people are just going to hold and wait to see what next week brings.

I have a feeling people are expecting the magic economy fairy to appear and pull a bull out of his ass.
well you know the Gov't will always use the peoples money to bail out Wall Street
Patience + Humility + Study = Success
  • #49,346
  • Nov 9, 2007 9:41am Nov 9, 2007 9:41am
Quoting zoheir
why is everyone trying to loose money ???
I don't know but I am riding my Yen Shorts down from 11/01. GU I opened shorts last night. I am only scalping EUR/CAD and GBP/CAD (to keep myself busy). I am leaving my long term shorts until I see we have hit market bottom.
Humble Lifetime Member
  • #49,347
  • Nov 9, 2007 9:42am Nov 9, 2007 9:42am
Quoting Mightypip
Should we expect a reteacement soon?
Mightypip...adhere to the warnings of the senior members. If you are not in any positions already, then the the trading day is pretty much over with.
  • #49,348
  • Nov 9, 2007 9:45am Nov 9, 2007 9:45am
Quoting zoheir
thank you gene, i was going to write something similar but then thought it's not worth the time away from my charts, nobody seems to listen, it's their money after all, but i guess u have a better heart than mine
I wouldn't be caught dead trying to scalp a yen cross. I don't know why some people are even attempting it. I guess you have to fall down to learn something the hard way.
Humble Lifetime Member
  • #49,349
  • Nov 9, 2007 9:45am Nov 9, 2007 9:45am
GBP/USD has retraced to the daily SMA, I took a small long position from the daily SMA. Good risk reward /ratio for me. I am looking to see whether the daily trend line will be broken convincingly.
Attached Image (click to enlarge)
Click to Enlarge Name: sma-gbp.gif Size: 17 KB
  • #49,350
  • Nov 9, 2007 9:46am Nov 9, 2007 9:46am
Quoting gene22
A word of advise, never, ever, unless you can read charts like the back of your hand, and then still don't, try to pick the top or bottom on Friday!!!!
Anything less that sma. ema, 50, 100, 200 on the WEEKLY, ARE NOT safe, I'm nor even mentioning wise. Can't believe I'm reading crap about people attemting longs, are you suicidal?, Unless you scalp, 5sec to a 5 min hold max, I wouldn't be caught dead trying to go long...
I agree with you after I nearly got my ass handed to me. High time-frame fibs should at least be considered - here the move stopped at the 38.2 of the last 5 months' range.
  • #49,351
  • Nov 9, 2007 9:47am Nov 9, 2007 9:47am
Quoting Ash
I don't know but I am riding my Yen Shorts down from 11/01. GU I opened shorts last night. I am only scalping EUR/CAD and GBP/CAD (to keep myself busy). I am leaving my long term shorts until I see we have hit market bottom.
I actually was thinking to scalp the CAD pairs but i suck at scalping , so i'm just looking at motorcycles ads
  • #49,352
  • Nov 9, 2007 9:53am Nov 9, 2007 9:53am
Quoting zoheir
I actually was thinking to scalp the CAD pairs but i suck at scalping , so i'm just looking at motorcycles ads

I am going to send you a pm. don't want to discuss CAD on this thread. Wouldn't want to incur the wrath of anyone. I have enough enemies as is. :
Humble Lifetime Member
  • #49,353
  • Nov 9, 2007 9:55am Nov 9, 2007 9:55am


OK

Quoting Ash
I am going to send you a pm. don't want to discuss CAD on this thread. Wouldn't want to incur the wrath of anyone. I have enough enemies as is. :
  • #49,354
  • Nov 9, 2007 9:57am Nov 9, 2007 9:57am
I had posted exact same chart last Sunday, this is just with the most recent PA, notice anything interesting, like the purple line where we just stopped? Now if people around here were really trying to learn, they would of asked some questions that I welcomed last week, but no one did. I guess everyone understood?! Ok, good night time to go to my country house for the weekend. This chart tells the story, and will tell the story for weeks, and months to come, entries, exact dates, levels and exits, good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy geometry2.jpg Size: 163 KB
  • #49,355
  • Nov 9, 2007 9:58am Nov 9, 2007 9:58am
Easy trading today 400 pips plus.

Thanks AUS and Karmo

Later guys,

Jim
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #49,356
  • Nov 9, 2007 10:03am Nov 9, 2007 10:03am
In September and October, the Dow rallied despite negative economic news because of expectation of a rate cut. Now with oil almost at $100/barrel and talk of inflation after the last cut, it seems wallstreet is holding off expectation of another rate cut. The bad news from Citigroup and GM earlier in the week along with Wachovia today seem to have a compounding effect.
  • #49,357
  • Nov 9, 2007 10:04am Nov 9, 2007 10:04am
Quoting lepiricus
This blasted thing wont let me post a chart for some reason, but I just did a fibo extension on this downleg of the 4hr 1-2-3 pattern that formed and at a 161.8 extension we are going to hit 232.30. This makes my shorts happy (no pun intended).

That was my post about 20hrs ago, this played out perfect with this 1-2-3 patter. I might have to toy with it some more. Now I am kicking myself for taking such a small position, but pips are pips fellas and take them when you can

I took half my position off at 236 and the rest at 232.30. This makes the weekend a little better.
  • #49,358
  • Nov 9, 2007 10:05am Nov 9, 2007 10:05am
13100 is broken on the dow. We will probably approach 13000 before noon.
  • #49,359
  • Nov 9, 2007 10:06am Nov 9, 2007 10:06am
Quoting jarroo
Easy trading today 400 pips plus.

Thanks AUS and Karmo

Later guys,

Jim
hi my budd
congrat
but a question??
in your pic 233.50 is ur sl or tp????
  • #49,360
  • Nov 9, 2007 10:08am Nov 9, 2007 10:08am
Quoting markam
13100 is broken on the dow. We will probably approach 13000 before noon.
Yep
Patience + Humility + Study = Success
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