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

  • #54,421
  • Dec 11, 2007 3:07pm Dec 11, 2007 3:07pm
Quoting FX-Petra
I want to apologize to anyone who put any stock into what I said earlier in the day about risk being to the upside. I pray that my comments played no part in anyone being long at the FOMC announcement. I have been trading for over 5 years and this is the worst miss I have ever had. I am paying for it with my self esteem and my trading account. I will stop posting, since it is obvious I don't know what the @#$% I am talking about!! Good trading to you all---God Bless
Bro I have been in a similar situation before & I can just about feel how miserable U are MAY GOD BLESS U & GIVE U THE COURAGE TO MOVE AHEAD IN LIFE WITH RENEWED ZEST
  • #54,422
  • Dec 11, 2007 3:08pm Dec 11, 2007 3:08pm
Quoting gene22
just about 2 hours before the news, now who says that my analyses is only long term, lol
Hope no one is trying to look for bounces just yet
Good night
Good stuff Gene! I've been reading your thread since it started now.
Ladies and gentlemen, we have a real professional here.
I dream, therefore I become.
  • #54,423
  • Dec 11, 2007 3:08pm Dec 11, 2007 3:08pm
btw,

traders are like pro-cornerbacks, the dumb fan always want to point out when they get burned for a touchdown but forget about the interception and the 20 passes that they broke up previously
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #54,424
  • Dec 11, 2007 3:18pm Dec 11, 2007 3:18pm
Mike,

My name is Ross and i am relativly new here. I have been lerking around and goinf through babypips school for about 6 months. I am using MT4 and was wondering what the blue and red lines are and how they are set?

If you have the time to reply it is much appreciated, if not I understand and I will watch closely.
Thanks for allowing the the benifit of your wisdom

Ross
  • #54,425
  • Dec 11, 2007 3:19pm Dec 11, 2007 3:19pm
It's been a while since I posted a chart, but here's a daily one.

I've drawn a fib from the move down we had from 241 area till 221 area, price retraced twice to the 38.2% fibo and couldn't break above it, plus if you look at the TL on my chart, it coincides with the 50ema which both acted as tough resistance, the support level I see is in the 222.50 and if that gets broken, then I expect to see 216 area. Enjoy

http://img46.imageshack.us/img46/4018/gjnt8.gif
Trade what you see, not what you think.
  • #54,426
  • Dec 11, 2007 3:19pm Dec 11, 2007 3:19pm
Quoting FX-Petra
I want to apologize to anyone who put any stock into what I said earlier in the day about risk being to the upside. I pray that my comments played no part in anyone being long at the FOMC announcement. I have been trading for over 5 years and this is the worst miss I have ever had. I am paying for it with my self esteem and my trading account. I will stop posting, since it is obvious I don't know what the @#$% I am talking about!! Good trading to you all---God Bless
FXPetra,

No need to beat yourself up for posting what you saw. At the end of the day we're all here just sharing information from both points a view, ultimately everyone here is responsible for his or her own trades. . .

As stated before in a few post back, this was a risky day to be trading and if anyone didn't feel good about the trade you've place stand aside, reap the gains or suffer the losses. Some won and many loss on this trade if you didn't plan for the risk. . .

I too called for a trip back up to 230/231 and possibly 233 but all were stated as "it could" which I was merely pointing out my point of view from both sides long or short. At the end of the day I have always stated that my outlook on GJ is bearish and the bigger trend was always downward. . .

Was I correct about the bigger trend, absolutely, was I wrong about it going back up to 230/231/233 yep absoluetly. Did I plan for this risk absoluetly.

At the end of the day this is forex and it is very unpredictable at best even with the best indicators. You live and you learn from your mistakes. . .

Happpy trading my friend and hold your head up, you have nothing to be sorry for. . . Some of the best traders miss from time to time. . .

Good luck trading my friend. . .
  • #54,427
  • Dec 11, 2007 3:20pm Dec 11, 2007 3:20pm
Quoting moneymagnet
btw,

traders are like pro-cornerbacks, the dumb fan always want to point out when they get burned for a touchdown but forget about the interception and the 20 passes that they broke up previously
lol...Well put
  • #54,428
  • Dec 11, 2007 3:22pm Dec 11, 2007 3:22pm
Someone went 14lots long on g/u b4 FOMC announcement on cable update thread.

Hope he is on demo.
  • #54,429
  • Dec 11, 2007 3:23pm Dec 11, 2007 3:23pm
Quoting mike w
Good stuff Gene! I've been reading your thread since it started now.
Ladies and gentlemen, we have a real professional here.
Thank you, now if only the market played like a nice kitty and gave me my well deserved rest for the last 2 weeks out of the year by finally getting down to my targets I would be very thankfull. We shall see I guess. This rate decision displayed money/risk being shifted since this morning, into dollars, not away(sell the rumor, buy the fact) so I was expecting a 25/25 rate cut and hopping for none. One can still hope... The move is overextending itself inmo at the moment. Too much too fast, this may not be sustainable, on the other hand I was looking for this day to reverse and drop rather fast somewhere to the 211-208.50 region over the next week or so... Perhaps my analyzes are not that off?!
  • #54,430
  • Dec 11, 2007 3:27pm Dec 11, 2007 3:27pm
Quoting karmostaji
It's been a while since I posted a chart, but here's a daily one.

I've drawn a fib from the move down we had from 241 area till 221 area, price retraced twice to the 38.2% fibo and couldn't break above it, plus if you look at the TL on my chart, it coincides with the 50ema which both acted as tough resistance, the support level I see is in the 222.50 and if that gets broken, then I expect to see 216 area. Enjoy
Good stuff Karmo. Could you tell me why your only seeing 216 if the previous area gets broken? Is this just a conservative target? I could easily see a bounce from either area that you just said about. Thanks for the info, it's great stuff!
I dream, therefore I become.
  • #54,431
  • Dec 11, 2007 3:28pm Dec 11, 2007 3:28pm
Quoting rosssurf
Mike,

My name is Ross and i am relativly new here. I have been lerking around and goinf through babypips school for about 6 months. I am using MT4 and was wondering what the blue and red lines are and how they are set?

If you have the time to reply it is much appreciated, if not I understand and I will watch closely.
Thanks for allowing the the benifit of your wisdom

Ross
Hey Ross, I'll send you a PM in just a moment.
I dream, therefore I become.
  • #54,432
  • Dec 11, 2007 3:29pm Dec 11, 2007 3:29pm
Quoting mike w
Good stuff Karmo. Could you tell me why your only seeing 216 if the previous area gets broken? Is this just a conservative target? I could easily see a bounce from either area that you just said about. Thanks for the info, it's great stuff!
I've got a TL drawn that extends to that area and we also have the 200ema on the weekly chart
Trade what you see, not what you think.
  • #54,433
  • Dec 11, 2007 3:32pm Dec 11, 2007 3:32pm
Quoting gene22
Thank you, now if only the market played like a nice kitty and gave me my well deserved rest for the last 2 weeks out of the year by finally getting down to my targets I would be very thankfull. We shall see I guess. This rate decision displayed money/risk being shifted since this morning, into dollars, not away(sell the rumor, buy the fact) so I was expecting a 25/25 rate cut and hopping for none. One can still hope... The move is overextending itself inmo at the moment. Too much too fast, this may not be sustainable, on the other hand I was looking for this day to reverse and drop rather fast somewhere to the 211-208.50 region over the next week or so... Perhaps my analyzes are not that off?!
I'd agree with your thoughts on an incredibly low target, BUT by the time we are in the teens don't you think it would be a little exhausted? That would be my guess, which is why I would have my take profits right above the areas of support that I have drawn out. As for the immediate future (today into tomorrow), I'd also agree that we've had too large of a downmove and now a retracement has to come through. I could see this moving back up to the area of 226 easily before continuing lower. Thanks for the input Gene!
I dream, therefore I become.
  • #54,434
  • Dec 11, 2007 3:36pm Dec 11, 2007 3:36pm
Quoting karmostaji
I've got a TL drawn that extends to that area and we also have the 200ema on the weekly chart
OK, thanks Karmo, I appreciate the input! I have a few profit targets to look into now. For the main, I am sticking with my system without a doubt. On the other hand, I will be looking into yours and Gene's and see if either are concievable to me through my analysis. Thanks again!
I dream, therefore I become.
  • #54,435
  • Dec 11, 2007 3:36pm Dec 11, 2007 3:36pm
When a retrace will start , will it start !!! 224.80 seems to be a good support for now but it may decline more tonight in Tokyo Session but before that on Sydney session around 2 hours , it may bounce !

100% Asian market will drop on what we call it Recession Japanese stock may even drop even several times tonight , because it has boosted several times during last week on speculation the worst may be over from credit-market losses and that the global economy will continue to expand.
Imagination is more important than knowledge. -- Albert Einstein
  • #54,436
  • Dec 11, 2007 3:43pm Dec 11, 2007 3:43pm
Quoting Pyramid
When a retrace will start , will it start !!! 224.80 seems to be a good support for now but it may decline more tonight in Tokyo Session but before that on Sydney session around 2 hours , it may bounce !

100% Asian market will drop on what we call it Recession Japanese stock may even drop even several times tonight , because it has boosted several times during last week on speculation the worst may be over from credit-market losses and that the global economy will continue to expand.
Pyramid, Nice call on the top earlier
  • #54,437
  • Dec 11, 2007 3:46pm Dec 11, 2007 3:46pm
Quoting forexnovice
Pyramid, Nice call on the top earlier
Wish you good luck and ofcourse Pips
Imagination is more important than knowledge. -- Albert Einstein
  • #54,438
  • Dec 11, 2007 4:03pm Dec 11, 2007 4:03pm
Check out the new Daily 5sma and Daily Momentum, and goodnight
Trade what you see, not what you think.
  • #54,439
  • Dec 11, 2007 4:34pm Dec 11, 2007 4:34pm
to be away from computer and your trade triggered and profits booked for 150 pips is the best feeling one can get.

fer
  • #54,440
  • Dec 11, 2007 5:18pm Dec 11, 2007 5:18pm
Wow this thread is very quiet. Wonder how many ppl blew up their accounts unless they studied and did their analysis
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