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

  • #55,401
  • Edited 2:50pm Dec 17, 2007 12:57pm | Edited 2:50pm
Quoting moneymagnet
why didn't you tell me this was going to be the range before the session? I got my 80 earlier and just been watching so far, waiting for it to breakout in a direction but this has proved to be a typical Monday. I think gene22 had the dates of the 11th and 18th as important to his projections. anyone remember why?

11th - Adjustment after run last Wed.
18th - Could be a reversal up to the end of the year. . .

I think this will be the case as Asian's have been buying UJ @ market. . .
If we see a slight reversal up on GU and UJ heads higher to 114./114.50/80 then we would see GJ @ 231.30/232.50. . .

I'm hoping it will pullback more so I can buy more at a lower price.
  • #55,402
  • Dec 17, 2007 1:04pm Dec 17, 2007 1:04pm
[quote=mike w;1763434]Yeah I guess your right on that. I don't really count my scalping trades as they are all jsut for quick profit so they don't go in the books. With those added in, ...

Hi mike

how do you scalp? I've quite difficulties scalping this pair. If you don't mind please tell me which indicators do you use and what is your method for scalping in general.

thanks
Discipline + Patience - Fear - Greed = Success
  • #55,403
  • Dec 17, 2007 1:05pm Dec 17, 2007 1:05pm
Quoting quecee5
11th - Adjustment after run last Wed.
18th - Could be a reversal up to the end of the year. . .

I think this will be the case as Asian's have been buying UJ @ market. . .
If we see a slight reversal up on GU and UJ heads higher to 114./114.50/80 then we would see GJ @ 231.30/232.50. . .

I hoping it will pullback more so I can buy more at a lower price.
thanks
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #55,404
  • Dec 17, 2007 1:30pm Dec 17, 2007 1:30pm
[quote=arezab;1763511]
Quoting mike w
Yeah I guess your right on that. I don't really count my scalping trades as they are all jsut for quick profit so they don't go in the books. With those added in, ...

Hi mike

how do you scalp? I've quite difficulties scalping this pair. If you don't mind please tell me which indicators do you use and what is your method for scalping in general.

thanks
I scalp using price action along with my methodology to find key support and resistance areas to buy, sell, and close at. Price action is the main driver though.
I dream, therefore I become.
  • #55,405
  • Dec 17, 2007 1:33pm Dec 17, 2007 1:33pm
Quoting quecee5
11th - Adjustment after run last Wed.
18th - Could be a reversal up to the end of the year. . .

I think this will be the case as Asian's have been buying UJ @ market. . .
If we see a slight reversal up on GU and UJ heads higher to 114./114.50/80 then we would see GJ @ 231.30/232.50. . .

I hoping it will pullback more so I can buy more at a lower price.
We probably will see a pullback, but I'm not sure as to how low now. 228.50 will probably be around the lowest we'll get.
Those dates in Gene's thread were about a trader writing to Islander about dates to be aware of. I don't see any reason to be alarmed, however, if you follow rigid rules and price action. It's just another day to make money, like any other. Best of luck to everyone.
I dream, therefore I become.
  • #55,406
  • Dec 17, 2007 1:33pm Dec 17, 2007 1:33pm
Days like this trading cable is a good option. Price bounced from the trendline as expected. Three longs, together 250+ pips sofar...

R

Quoting Rocroy
sometimes it is useful to draw a little bit longer trendlines...

R

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  • #55,407
  • Dec 17, 2007 1:42pm Dec 17, 2007 1:42pm
Quoting Rocroy
Days like this trading cable is a good option. Price bounced from the trendline as expected. Three longs, together 250+ pips sofar...

R
Nice stuff. I saw the setup, but didn't trade it out of pure lethargy. Clear reversal for the upside about 2 bars ago. I'd say you would probably see at least 2.0250, before dropping again. Good setup Rocroy.

Nzd/Usd looks like a good buying opportunity now as well. A little more recent at that.
I dream, therefore I become.
  • #55,408
  • Dec 17, 2007 1:45pm Dec 17, 2007 1:45pm
Quoting Rocroy
Days like this trading cable is a good option. Price bounced from the trendline as expected. Three longs, together 250+ pips sofar...

R
Right there with you. GJ shorts close to getting stopped out at +10 but more than compensated by GU longs. TLs are really simple and powerful tools when drawn properly, particularly that Weekly GU support.
  • #55,409
  • Dec 17, 2007 1:49pm Dec 17, 2007 1:49pm
yes, 50 fib line might be a good target at 2.0340. but lets see how it goes.

R

Quoting mike w
Nice stuff. I saw the setup, but didn't trade it out of pure lethargy. Clear reversal for the upside about 2 bars ago. I'd say you would probably see at least 2.0250, before dropping again. Good setup Rocroy.

Nzd/Usd looks like a good buying opportunity now as well. A little more recent at that.
  • #55,410
  • Dec 17, 2007 1:50pm Dec 17, 2007 1:50pm
seems I didn't miss anything interesting, been busy eating books lol and having finals, my last 2 finals tomorrow and I'm done with University

Enjoy scalping everyone and leave some for me
Trade what you see, not what you think.
  • #55,411
  • Dec 17, 2007 2:04pm Dec 17, 2007 2:04pm
Well good day all. I hope all is well here at FF and everyone is making a killin'. I just got back from a horrible job site, logged on and saw everything has changed. Updated strategies and new faces. Back to the drawing board I go with the charts. How's the "250" lookin' Karmo?

This still looks like the best thread out there and I hope that once I get my feet wet again I'll be able to contribute.
  • #55,412
  • Dec 17, 2007 2:04pm Dec 17, 2007 2:04pm
Quoting quecee5
Anywhere from 3,000 - 3,500 pips on average but I only trade 4-5 days a week. . .
btw I trade 6 days if you count Sunday..
  • #55,413
  • Dec 17, 2007 2:08pm Dec 17, 2007 2:08pm
Quoting karmostaji
seems I didn't miss anything interesting, been busy eating books lol and having finals, my last 2 finals tomorrow and I'm done with University

Enjoy scalping everyone and leave some for me
Good luck on your finals Karmo. It's good to be done with that hassle at least until next semester (for me anyways).
I dream, therefore I become.
  • #55,414
  • Dec 17, 2007 2:13pm Dec 17, 2007 2:13pm
Quoting JDAMv3
Well good day all. I hope all is well here at FF and everyone is making a killin'. I just got back from a horrible job site, logged on and saw everything has changed. Updated strategies and new faces. Back to the drawing board I go with the charts. How's the "250" lookin' Karmo?

This still looks like the best thread out there and I hope that once I get my feet wet again I'll be able to contribute.
Welcome back JDAMv3. Looking forward to your views.
  • #55,415
  • Dec 17, 2007 2:17pm Dec 17, 2007 2:17pm
Quoting mike w
Good luck on your finals Karmo. It's good to be done with that hassle at least until next semester (for me anyways).
Thanks bro, same to you
Trade what you see, not what you think.
  • #55,416
  • Dec 17, 2007 2:17pm Dec 17, 2007 2:17pm
Quoting forexnovice
btw I trade 6 days if you count Sunday..
Typically, I observe on Sunday, unless I see a set-up that has low risk and high reward. Other than that I trade Monday thru Thrusday and only on Friday if I have a trade that carried over from Thursday. . .

Anyway, been trading UJ while scalping GJ, average pips 30-35, not bad using bigger lot size. I think w'ell see UJ's price hit 114/114.50/80 in the next couple of sessions. Its been consolidating above 113 for the last couple of days. Building longs on it as it pulls back a bit. . . TP, 113.80/114.35. . .

Also waiting for GJ to pull back a bit as well, looks like 228.30, 227.70's and 227.40's could be good entry point if it get that low. . .

Good Luck all. . .
  • #55,417
  • Dec 17, 2007 2:42pm Dec 17, 2007 2:42pm
Quoting karmostaji
Thanks bro, same to you
Karmo,

Gd luck today on your finals bro!
  • #55,418
  • Dec 17, 2007 2:44pm Dec 17, 2007 2:44pm
Guys,
Somebody Pl tell me where GJ is heading now.
Some times it takes cue from Dow, some times it does'nt.
It is not obeying any Chart set up. It makes me restless.
  • #55,419
  • Dec 17, 2007 2:45pm Dec 17, 2007 2:45pm
Quoting forexnovice
Welcome back JDAMv3. Looking forward to your views.
heh,

Are you trading GJ from the long side or the short side? Do you see a pull back if so what levels?

Just curious. . .
  • #55,420
  • Edited 3:13pm Dec 17, 2007 2:48pm | Edited 3:13pm
Quoting sieb_ila
Guys,
Somebody Pl tell me where GJ is heading now.
Some times it takes cue from Dow, some times it does'nt.
It is not obeying any Chart set up. It makes me restless.
Flip a coin. . .
It has been trading in a very tight range for the last couple of days. . .
Should break out shortly, most think to the upside, I agree. . . GJ has been trading above 227.90's for the last couple days then today it traded down to 227.50 but bounced hard off of it to trade back over 228. . .

I think in the next session if not the London session we'll see it break either way, most favor the upside, price action seems to confirm that however, if you trade that way make sure you have your stops-loss enabled. . .
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