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

  • #56,261
  • Dec 26, 2007 9:39pm Dec 26, 2007 9:39pm
Quoting mike w
Tomorrow, and tell me about it. I'm ready to shoot someone as there is a fantastic opportunity to buy on the Aud/Usd based on the weekly charts.
well, I guess I have a while lol.

  • #56,262
  • Dec 26, 2007 10:01pm Dec 26, 2007 10:01pm
Quoting my2buoys
Hey, Markam,

Just popped in to check things out and saw your question. FXCM is supposed to open at 2AM EST (Frankfurt Opening).

M2B
I have never held a trade over the Christmas Holiday..this is a first. Price on my FXCM screen is approx 120 pips below current price. What will happen when FXCM opens @ 2 am est? Will price shoot up immediatley to match price at time of open. Will it zig zag up and down until it matches correct price? I have never stayed up to watch an open after Christmas...but I have 3 open positions so I will be up tonight!
  • #56,263
  • Dec 27, 2007 12:55am Dec 27, 2007 12:55am
It looks like we'll be seeing a pin bar on the 4 hour chart.
I dream, therefore I become.
  • #56,264
  • Dec 27, 2007 1:03am Dec 27, 2007 1:03am
I'm using FXCM for trading.
As you know, on weekend or holiday, just like christmas season, the broker closes it's station.
Usually I set stop loss and limit in proper level for my position.

I opened my long position before christmas holiday with SL and Limit and the price goes in my direction beyond +50 pips above limit during my broker's closing time and the broker just opened 10 minutes ago and my position was closed exactly at my limit price. It is normal ?
But I experienced before, they never protect my SL when the price went against my direction, they close it at market price.

So I asked my broker and they said they do not protect SL but protect(?) limit.

Do all other brokers do the same way?

Please advise me?
  • #56,265
  • Dec 27, 2007 1:21am Dec 27, 2007 1:21am
Quoting h9402486
I'm using FXCM for trading.
As you know, on weekend or holiday, just like christmas season, the broker closes it's station.
Usually I set stop loss and limit in proper level for my position.

I opened my long position before christmas holiday with SL and Limit and the price goes in my direction beyond +50 pips above limit during my broker's closing time and the broker just opened 10 minutes ago and my position was closed exactly at my limit price. It is normal ?
But I experienced before, they never protect my SL when the price went against my direction, they close it at market price.

So I asked my broker and they said they do not protect SL but protect(?) limit.

Do all other brokers do the same way?

Please advise me?
I'm no expert, but I can tell you they love to take your money. Most brokers are probably the same; it's just business and profit is profit no matter how it's made.

On a different note, it looks like shorts are in play, although if your just now realizing it, you've missed some profits already.
I dream, therefore I become.
  • #56,266
  • Dec 27, 2007 1:59am Dec 27, 2007 1:59am
Quoting mike w
I'm no expert, but I can tell you they love to take your money. Most brokers are probably the same; it's just business and profit is profit no matter how it's made.

On a different note, it looks like shorts are in play, although if your just now realizing it, you've missed some profits already.

I had some longs with limit at 227.01... I know the price went above that however the positions were not closed?

There have been many times when they have closed over the weekend because of limits or S/L...

Because of today I am really confused. Perhaps open up a chat window with FXCM and ask them what the hell... Seems to be very inconsistant!
  • #56,267
  • Dec 27, 2007 2:00am Dec 27, 2007 2:00am
Quoting h9402486
I'm using FXCM for trading.
As you know, on weekend or holiday, just like christmas season, the broker closes it's station.
Usually I set stop loss and limit in proper level for my position.

I opened my long position before christmas holiday with SL and Limit and the price goes in my direction beyond +50 pips above limit during my broker's closing time and the broker just opened 10 minutes ago and my position was closed exactly at my limit price. It is normal ?
But I experienced before, they never protect my SL when the price went against my direction, they close it at market price.

So I asked my broker and they said they do not protect SL but protect(?) limit.

Do all other brokers do the same way?

Please advise me?
Take a real broker like DukasCopy (edit : 50000 $ openning but no steal anymore and very happy with it, a spread on gy @ 3-4 pips
  • #56,268
  • Edited 3:21am Dec 27, 2007 2:24am | Edited 3:21am
Good Morning All.

IF price successfully clears the 'dangle' fib between 61.8 & 78.6 on 4hr, the 50fib & 61.8 fib on the weekly charts are next likely targets imo. Daily Gann hilo @ 227.52 & weekly @ 232.10 are likely resistance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj 4hr.gif Size: 12 KB
Click to Enlarge Name: weekly gj.gif Size: 23 KB
  • #56,269
  • Dec 27, 2007 4:33am Dec 27, 2007 4:33am
Possible resistance.....

200ema @ 228.13 on 4hr

Daily gann @ 227.52

Daily 50ema @ 228.71

Confluence of Weekly gann and 50ema @ 232.10

Will leave possible support areas for the bears to point out..
  • #56,270
  • Dec 27, 2007 5:25am Dec 27, 2007 5:25am
Quoting forexnovice
Good Morning All.

IF price successfully clears the 'dangle' fib between 61.8 & 78.6 on 4hr, the 50fib & 61.8 fib on the weekly charts are next likely targets imo. Daily Gann hilo @ 227.52 & weekly @ 232.10 are likely resistance.
The "dangle" fib area matches up very well with where the 4hr 200ema was during that time period . . .

P.S. - I like your avatar!

Attached Image (click to enlarge)
Click to Enlarge Name: dangle.jpg Size: 197 KB
  • #56,271
  • Dec 27, 2007 5:33am Dec 27, 2007 5:33am
Quoting forexnovice
Possible resistance.....

200ema @ 228.13 on 4hr

Daily gann @ 227.52

Daily 50ema @ 228.71

Confluence of Weekly gann and 50ema @ 232.10

Will leave possible support areas for the bears to point out..
Nice. We probably should add R1 resistance @ 227.51 (using London daily pivots), since that's a TP area for the Aus 15 minute long strategy. R2 is 228.01, and R3 is 228.80.
  • #56,272
  • Dec 27, 2007 5:56am Dec 27, 2007 5:56am
Quoting Pips_Cruiser
The "dangle" fib area matches up very well with where the 4hr 200ema was during that time period . . .

P.S. - I like your avatar!

Thanx for pointing that out.

Other Possible resistance areas

Monthly Pivot @ 230.35

Weekly Pivot R1 @ 229.06

There are many more if we take fibs on the 4hr, daily, weekly etc into consideration but that would confuse the newbies. The ones already mentioned should suffice for intra-day trading.
  • #56,273
  • Dec 27, 2007 6:32am Dec 27, 2007 6:32am
Quoting forexnovice
Thanx for pointing that out.

Other Possible resistance areas

Monthly Pivot @ 230.35

Weekly Pivot R1 @ 229.06

There are many more if we take fibs on the 4hr, daily, weekly etc into consideration but that would confuse the newbies. The ones already mentioned should suffice for intra-day trading.
I think the next major step might be getting a close above the 4H 200ema, instead of a "bounce back". Mine is 228.02, but there could be lots of deviation between brokers because of the holidays (unfortunately).
  • #56,274
  • Dec 27, 2007 7:05am Dec 27, 2007 7:05am
Quoting Pips_Cruiser
I think the next major step might be getting a close above the 4H 200ema, instead of a "bounce back". Mine is 228.02, but there could be lots of deviation between brokers because of the holidays (unfortunately).
I see the next major step(ie, 50fib on weekly) if we get a close above 78.6 fib on 4hr chart. Otherwise back to 225 after consolidation around the "dangle" fib imo.
  • #56,275
  • Dec 27, 2007 7:16am Dec 27, 2007 7:16am
Quoting forexnovice
I see the next major step(ie, 50fib on weekly) if we get a close above 78.6 fib on 4hr chart. Otherwise back to 225 after consolidation around the "dangle" fib imo.
A third view would be the major US news coming up in 15 minutes.
  • #56,276
  • Dec 27, 2007 7:26am Dec 27, 2007 7:26am
Quoting Pips_Cruiser
A third view would be the major US news coming up in 15 minutes.
Lol...the first few minutes we will see GJ get stretched in both directions with Dow deciding direction later on..
  • #56,277
  • Dec 27, 2007 7:42am Dec 27, 2007 7:42am
Suicide bomb in Pakistan kills Bhutto. The news is coming across the wires now.....
  • #56,278
  • Dec 27, 2007 7:47am Dec 27, 2007 7:47am
Quoting ovaforty
Suicide bomb in Pakistan kills Bhutto. The news is coming across the wires now.....
Just saw it on the local news channel..
  • #56,279
  • Dec 27, 2007 7:50am Dec 27, 2007 7:50am
Quoting ovaforty
Suicide bomb in Pakistan kills Bhutto. The news is coming across the wires now.....
Im going to go ahead and blame my stopped out trade on the terrorist attack.
  • #56,280
  • Dec 27, 2007 8:12am Dec 27, 2007 8:12am
Good morning all!
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