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

  • #53,861
  • Dec 7, 2007 10:33am Dec 7, 2007 10:33am
Quoting 2fx
please what do you mean by a daily pin?
check out this thread: http://www.forexfactory.com/showthread.php?t=2331
  • #53,862
  • Dec 7, 2007 10:33am Dec 7, 2007 10:33am
Quoting mike w
Non farm Payroll reports. It's a news event that usually moves the market a good bit. It's based in the United States.
I was long from 225.07 I was hoping that it would reach 227.15 th 61.8% fib being that NFP was today I took some it the 50 mark and I'm leaving the rest with a trailing stop loss.
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  • #53,863
  • Dec 7, 2007 10:35am Dec 7, 2007 10:35am
Quoting 2fx
please what do you mean by a daily pin?
By daily pin, I mean a pin bar that has formed on the daily chart. Pin bars often mean that price is at an indecisive point or that a reversal could present itself. A pin bar is just one aspect of using price action to trade. Price action will make you a much better trader and so I think you should check out everything you can on the subject. There are quite a bit of different setups using price action that are profitable.
The James16 chart thread is a great place to start. It's in the trading systems area of the forum.
I dream, therefore I become.
  • #53,864
  • Dec 7, 2007 10:35am Dec 7, 2007 10:35am
Quoting 2fx
please what do you mean by a daily pin?
Apart frm the James16 thread, also read this one on Daily PinBars http://www.forexfactory.com/showthread.php?t=38266
  • #53,865
  • Dec 7, 2007 10:36am Dec 7, 2007 10:36am
Quoting mcmartins
hi bro, what is the meaning of NFP?
Nobody
Fart
Please
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  • #53,866
  • Dec 7, 2007 10:38am Dec 7, 2007 10:38am
Quoting my2buoys
Nobody
Fart
Please
Fox smells its own hole.lolol Remember that as a kid M2b?lol
  • #53,867
  • Dec 7, 2007 10:39am Dec 7, 2007 10:39am
Quoting icthelite98
I was long from 225.07 I was hoping that it would reach 227.15 th 61.8% fib being that NFP was today I took some it the 50 mark and I'm leaving the rest with a trailing stop loss.
Like I sadi earlier, the area of 228.00 to 228.50 could be a good spot of resistance. With that in mind, I think that if price does break this area of smaller resistance, then that could be a good safe target for longs to play out. Time will tell I guess.
I dream, therefore I become.
  • #53,868
  • Dec 7, 2007 10:40am Dec 7, 2007 10:40am
Quoting mike w
Non farm Payroll reports. It's a news event that usually moves the market a good bit. It's based in the United States.
is it me or has anyone else noticed that the NFP is not the market mover it used to be unless there is a major discrepency
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,869
  • Dec 7, 2007 10:41am Dec 7, 2007 10:41am
Quoting my2buoys
Nobody
Fart
Please
LOL, looks like people r getting into the weekend mood
  • #53,870
  • Dec 7, 2007 10:41am Dec 7, 2007 10:41am
Quoting icthelite98
I was long from 225.07 I was hoping that it would reach 227.15 th 61.8% fib being that NFP was today I took some it the 50 mark and I'm leaving the rest with a trailing stop loss.
Good job, ole chap. That's exactly what I was thinking, with one exception. I'm thinking it could go all the way to 227.40, a complete retrace of the last move down. 1H and 4H are both OB and Daily Stochs is still bearish. I'm really looking at 227.40 as a good place to sell.

M2B
  • #53,871
  • Dec 7, 2007 10:43am Dec 7, 2007 10:43am
Quoting PipChick
Fox smells its own hole.lolol Remember that as a kid M2b?lol
No. That must have been before my time. I'm only 45.
  • #53,872
  • Dec 7, 2007 10:44am Dec 7, 2007 10:44am
Better scale out of the long a bit and move stop up.Failed close to the hi again.
  • #53,873
  • Dec 7, 2007 10:45am Dec 7, 2007 10:45am
Quoting my2buoys
No. That must have been before my time. I'm only 45.
lol..Not before your time...Im 44
  • #53,874
  • Dec 7, 2007 10:45am Dec 7, 2007 10:45am
Quoting my2buoys
No. That must have been before my time. I'm only 45.
There is no specific time for that, I'm only 20 and I remember that! You must have been a city slicker
I dream, therefore I become.
  • #53,875
  • Dec 7, 2007 10:46am Dec 7, 2007 10:46am
Quoting mike w
There is no specific time for that, I'm only 20 and I remember that! You must have been a city slicker
Metro Detroit most of my life. (The suburbs, of course).
  • #53,876
  • Dec 7, 2007 10:46am Dec 7, 2007 10:46am
Quoting mike w
There is no specific time for that, I'm only 20 and I remember that! You must have been a city slicker
Yep, grew up as a city slicker
  • #53,877
  • Dec 7, 2007 10:47am Dec 7, 2007 10:47am
Quoting my2buoys
Metro Detroit most of my life. (The suburbs, of course).
Hi neighbor
  • #53,878
  • Dec 7, 2007 10:52am Dec 7, 2007 10:52am
Quoting moneymagnet
is it me or has anyone else noticed that the NFP is not the market mover it used to be unless there is a major discrepency
Seems like about the last year it has either been a whipsaw event or non-mover. I remember watching it take GBP/USD 200 pips in one direction without looking back. Today, since the report, GBP/USD has a range of 65 pips from its high to its low. Go figure. It could be due to the weakening of the dollar over that time period, but I'm not an economist so I'm just guessing.

M2B
  • #53,879
  • Dec 7, 2007 10:53am Dec 7, 2007 10:53am
I'm feeling like this hour's end is going to make or break the world.
I dream, therefore I become.
  • #53,880
  • Dec 7, 2007 10:55am Dec 7, 2007 10:55am
Quoting moneymagnet
is it me or has anyone else noticed that the NFP is not the market mover it used to be unless there is a major discrepency
There is no question that NFP does not move the market that much right now. There are a couple of reasons for this:
1) ADP always precedes NFP. The newer ADP takes some steam and focus off of NFP. Now we have two numbers, and these numbers many times don't agree--(there was a big difference this month, although both positive).

2) USD has been getting its can kicked for a long time. Any USD strength has just been a buying opportunity for dollar bears. See last months NFP report for a shining example of this. NFP was FABULOUS vs expectations and USD lost big time vs Euro (I got my clock cleaned as well). Right now good NFP is largley ignored, bad NFP is expected a priced in to some extent.
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