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

  • #53,581
  • Dec 5, 2007 6:23pm Dec 5, 2007 6:23pm
M2B,

Nice one, thanks for that. I dont have access to 8hr charts unless i takeover one of our reuters terminals at work!

what are your thoughts on timing and entries around here?
"If it bleeds ... we can kill it"
  • #53,582
  • Dec 5, 2007 6:25pm Dec 5, 2007 6:25pm
Quoting moneymagnet
man 225 has been tough to close above today
23% fib see chart
Attached Image (click to enlarge)
Click to Enlarge Name: todays chart.gif Size: 16 KB
  • #53,583
  • Dec 5, 2007 6:38pm Dec 5, 2007 6:38pm
Quoting icthelite98
23% fib see chart
yeah but i normally dont c that much resistance on the geppy at that fibo
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,584
  • Dec 5, 2007 6:41pm Dec 5, 2007 6:41pm
Quoting my2buoys
Check out the pin bar on this 8H chart. Momentum isn't strong but is still primarily bullish. Notice especially the 10c (aqua). Stochastics is also ready to turn up on this chart.

M2B
Saw that too. Up we go.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #53,585
  • Dec 5, 2007 6:44pm Dec 5, 2007 6:44pm
I would like to think i will be able to position myself short before the Industrial Production numbers are released.

With a 25bp cut likely (in my opinion) i wouldnt wanna be long! Should be an interesting night.
"If it bleeds ... we can kill it"
  • #53,586
  • Dec 5, 2007 6:45pm Dec 5, 2007 6:45pm
Quoting PipChick
I do the same thing MM. Usually if it stalls I will take profits then if it breaks thru the stall point, I will let it break and retrace back to the stall point then re enter. I hate to buy breaks because it always retreats before continuing in the direction of the break.
yeah i used to be a glutton for punishment and get in on the break only to see it go against me 50+ pips then have to waith seemingly forever to get into profit then close it too early in profit. talk about emotional rollercoaster
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,587
  • Dec 5, 2007 6:49pm Dec 5, 2007 6:49pm
Quoting moneymagnet
yeah i used to be a glutton for punishment and get in on the break only to see it go against me 50+ pips then have to waith seemingly forever to get into profit then close it too early in profit. talk about emotional rollercoaster
lol..Yes...I try to avoid emotions and I absolutely hate taking too much heat but I will take it if I have to.
  • #53,588
  • Dec 5, 2007 6:54pm Dec 5, 2007 6:54pm
Quoting PipChick
lol..Yes...I try to avoid emotions and I absolutely hate taking too much heat but I will take it if I have to.
yep definetely something I have to learn myself....closed it to early yesterday and now today entered to early and couldn't handle the spike down.....
  • #53,589
  • Dec 5, 2007 7:05pm Dec 5, 2007 7:05pm
Quoting my2buoys
Check out the pin bar on this 8H chart. Momentum isn't strong but is still primarily bullish. Notice especially the 10c (aqua). Stochastics is also ready to turn up on this chart.

M2B
Thanks M2B!

  • #53,590
  • Dec 5, 2007 7:07pm Dec 5, 2007 7:07pm
Quoting khmr
yep definetely something I have to learn myself....closed it to early yesterday and now today entered to early and couldn't handle the spike down.....
not that i am a fx guru, though i wsh, but i thought we might get that spike, not that far down but i thought it would drop so i entered at 1/5th my normal lots (planned on adding on the way up)and was down over 100 pips. man i was so calm because the dollar amount didn't hurt at all then i bought on the way up and recouped all + more and still got more riding. this for me is much less stressfull
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,591
  • Dec 5, 2007 7:11pm Dec 5, 2007 7:11pm
Quoting MMDealer
I would like to think i will be able to position myself short before the Industrial Production numbers are released.

With a 25bp cut likely (in my opinion) i wouldnt wanna be long! Should be an interesting night.
I was thinking about that earlier. We are getting into good shorting territory. Then I decided it would just be gambling (picking the price top & picking the news results). So I'll be sitting on the sidelines instead . . .
  • #53,592
  • Dec 5, 2007 7:14pm Dec 5, 2007 7:14pm
Has anybody made a new template for Auslanco's revised 15 minute Strategy. If so, can they post so I can put it in the download section of the web site.
Trade what you see, not what you think.
  • #53,593
  • Dec 5, 2007 7:17pm Dec 5, 2007 7:17pm
Pips Cruiser,

You make an excellent point. Ill be sitting on the sidelines, too.
"If it bleeds ... we can kill it"
  • #53,594
  • Dec 5, 2007 7:22pm Dec 5, 2007 7:22pm
50% of todays move down, the 50 ema on the 1 hr then the 61.8 all within 20-25 pips of each other, so I took profits. I will definately sit out for the rate decision. There will be plenty of pips left once it all calms down and sets into a direction.

Edit:Greed creates risk which creates loss.
  • #53,595
  • Dec 5, 2007 7:25pm Dec 5, 2007 7:25pm
Yeah im out at 225.50. Very happy with that trade. Cable finding resistance at the figure and now id like to see it back to 2.0250. Long again? Maybe, maybe not. Interest rate statement does worry me.
"If it bleeds ... we can kill it"
  • #53,596
  • Dec 5, 2007 7:26pm Dec 5, 2007 7:26pm
Quoting MMDealer
Yeah im out at 225.50. Very happy with that trade. Cable finding resistance at the figure and now id like to see it back to 2.0250. Long again? Maybe, maybe not. Interest rate statement does worry me.
The smart and easy money is AFTER the announcement.
  • #53,597
  • Dec 5, 2007 7:36pm Dec 5, 2007 7:36pm
Quoting PipChick
The smart and easy money is AFTER the announcement.
Agreed! And possibly even an hour or more afterwards, riding the retrace in the opposite direction . . .

  • #53,598
  • Dec 5, 2007 7:45pm Dec 5, 2007 7:45pm
Price has come off the 50% retracement of last nights down move, price resistance (was support) and 15 min 100 SMA.

Anyone think im crazy for shorting at 40? I dont think im over trading, just saw confluence of resistance in the direction of this bearish sentiment.
"If it bleeds ... we can kill it"
  • #53,599
  • Dec 5, 2007 7:55pm Dec 5, 2007 7:55pm
Quoting MMDealer
Price has come off the 50% retracement of last nights down move, price resistance (was support) and 15 min 100 SMA.

Anyone think im crazy for shorting at 40? I dont think im over trading, just saw confluence of resistance in the direction of this bearish sentiment.
I rode price all the way up to that 50% retrace and then closed out for profit. At that point, the stochs were oversold in every timeframe except the daily which was already crossed and pointing down. I went short and now am targeting a 50% retrace of this last move up, which is around 224.70. I have a very tight stop on this trade

after that I'm out 'til the announcement.
  • #53,600
  • Dec 5, 2007 8:03pm Dec 5, 2007 8:03pm
Repipula,

Great minds think alike! Joke. Good to hear. Similarly, im running a tight stop, a smaller than average position, and will be out over Indust. Prod and the interest rate ann.
"If it bleeds ... we can kill it"
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