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

  • #57,661
  • Jan 7, 2008 10:34pm Jan 7, 2008 10:34pm
Quoting dagoods
i'd give that short about an 80% success scenario...of course if she does break up and out she will leave that short in the dust...so set a buy stop up above and short her now.....up to u but.... advance orders are key my 2 cents
Great advise!!! Thank You
  • #57,662
  • Jan 7, 2008 10:47pm Jan 7, 2008 10:47pm
Quoting MMDealer
I removed my stops and let it run, because i hate being wrong. I added to the position and i went overseas with no internet access for 2 weeks. Had a mate watching it for me.

Ive made major trading errors there, and instead of losing 4% of my account - ive lost around 60%. That equates to ALOT of money for a 21 year old. (12k)
gotta tell ya bro', and please dont take this personal, but thats one of the dumbest things i have ever heard in trading. i am sure (i hope) u learned your lesson.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #57,663
  • Jan 7, 2008 10:47pm Jan 7, 2008 10:47pm
Quoting fxstman
Hi PC, Quecee, dagoods!

Sorry for the late reply. I had to take off to work for a while. I started learning patterns and trading by them. They have paid off pretty good. A rising wedge up @ 229.xx area signaled this down to here. Hope trading is going good for you all!!
Thanks for the info. in the PM dagoods. I will try to reply w/ a couple of Q's I have soon, if that is alright.

GLT
fxstman
It looks like you've had a busy and profitable day. Good job!

  • #57,664
  • Jan 7, 2008 10:49pm Jan 7, 2008 10:49pm
Quoting moneymagnet
gotta tell ya bro', and please dont take this personal, but thats one of the dumbest things i have ever heard in trading. i am sure (i hope) u learned your lesson.
Yep, tell me about it. My mate was a trader as well... but yeah - very very stupid. Ill be back.
"If it bleeds ... we can kill it"
  • #57,665
  • Jan 7, 2008 10:51pm Jan 7, 2008 10:51pm
Quoting Pips_Cruiser
It looks like you've had a busy and profitable day. Good job!

Thanks! I'm out for a while. Talk to you all later.
  • #57,666
  • Jan 7, 2008 11:03pm Jan 7, 2008 11:03pm
Quoting fxstman
Thanks! I'm out for a while. Talk to you all later.

hi aus!
  • #57,667
  • Jan 7, 2008 11:03pm Jan 7, 2008 11:03pm
Quoting dagoods
the battle definitely not over yet ej looks to go long to me for all u seniors watching that pair as well (quecee) maybe she takes gj with her like she did last time.....but last time it was about the yen this time i think its about the dollar so....

HELP!

My first impression is that we're still in the same price range that's been in effect all day. It's just that it went to one extreme (up) and now it's going down again.

If you look at UJ and GU you'll see they were both ranging upward at the same time, and this doubled the effect of GJ. Now they've paused and look like they might be heading down again. Possibly for a short retrace before continuing up, or maybe just plain old down.

We don't have to chase every pip, my friend. Let's be patient and see how things actually develop.

Attached Image (click to enlarge)
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  • #57,668
  • Jan 7, 2008 11:05pm Jan 7, 2008 11:05pm
Quoting Pips_Cruiser
My first impression is that we're still in the same price range that's been in effect all day. It's just that it went to one extreme (up) and now it's going down again.

If you look at UJ and GU you'll see they were both ranging upward at the same time, and this doubled the effect of GJ. Now they've paused and look like they might be heading down again. Possibly for a short retrace before continuing up, or maybe just plain old down.

We don't have to chase every pip, my friend. Let's be patient and see how things actually develop.


good advice!

  • #57,669
  • Jan 7, 2008 11:06pm Jan 7, 2008 11:06pm
Quoting fxstman
Quecee5,
Take a look at both the g/u and u/j. It looks like they both have OB stoch. If they both come togather, we could be going for the 213.50/60 test. Is that right?
Here is what I see with a 1hr/4hr combo chart. . .
Could pull back toward pivot (orange line) a break could send it to lower channel support. A break of this support would send it back to last week support of 213.50/60 area. . . I think 214 looks like it could be daily bottom.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ 1hr chart.JPG Size: 185 KB
  • #57,670
  • Jan 7, 2008 11:14pm Jan 7, 2008 11:14pm
Quoting quecee5
Here is what I see with a 1hr/4hr combo chart. . .
Could pull back toward pivot (orange line) a break could send it to lower channel support. A break of this support would send it back to last week support of 213.50/60 area. . . I think 214 looks like it could be daily bottom.

thanks you o'senseis!
  • #57,671
  • Jan 7, 2008 11:25pm Jan 7, 2008 11:25pm
Quoting quecee5
Here is what I see with a 1hr/4hr combo chart. . .
Could pull back toward pivot (orange line) a break could send it to lower channel support. A break of this support would send it back to last week support of 213.50/60 area. . . I think 214 looks like it could be daily bottom.
  • #57,672
  • Jan 7, 2008 11:27pm Jan 7, 2008 11:27pm
Looks to be supported by 1 hr 5sma for retest of downtrend line.. rather hope so because I didn't close my long from earlier... what do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: current geppy.gif Size: 25 KB
Has what you wanted to see made you blind?
  • #57,673
  • Jan 7, 2008 11:33pm Jan 7, 2008 11:33pm
Quoting Dunkan
Looks to be supported by 1 hr 5sma for retest of downtrend line.. rather hope so because I didn't close my long from earlier... what do you guys think?

I think you should see post 57669 above with this thin channel/triangle though looks like its going to be a fun session coming up either way!
  • #57,674
  • Edited 11:50pm Jan 7, 2008 11:38pm | Edited 11:50pm
Quoting Dunkan
Looks to be supported by 1 hr 5sma for retest of downtrend line.. rather hope so because I didn't close my long from earlier... what do you guys think?
this nest pa will tell us i think by the way its looking bullish....so..... but i cant tell yet if we have a valid pinbar confirmation or not.... well see
  • #57,675
  • Jan 7, 2008 11:46pm Jan 7, 2008 11:46pm
Quoting dagoods
I think you should see post 57669 above with this thin channel/triangle though looks like its going to be a fun session coming up either way!
Those are always in short supply but always needed at my house!
Has what you wanted to see made you blind?
  • #57,676
  • Jan 7, 2008 11:51pm Jan 7, 2008 11:51pm
I see some downside setting up........
watching for a bounce off the trend line.
Attached Image (click to enlarge)
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  • #57,677
  • Jan 7, 2008 11:55pm Jan 7, 2008 11:55pm
Quoting Dunkan
Looks to be supported by 1 hr 5sma for retest of downtrend line.. rather hope so because I didn't close my long from earlier... what do you guys think?
Tough call right now. For one thing, we're at the top of the range and that suggests a good TP area. On the other hand there's still a slight chance for an upward breakout, and it would be a shame to miss that if it happened. I suppose you could compromise, and stay active with a short stop loss.

  • #57,678
  • Jan 7, 2008 11:56pm Jan 7, 2008 11:56pm
Quoting dagoods
this nest pa will tell us i think by the way its looking bullish....so..... but i cant tell yet if we have a valid pinbar or not.... well see
Looks pretty bullish to me as well and well supported by the 8hr 5 sma which happens to be ar'd the daily pivot. The only thing that would negate this is if we see a break of the bottom channel. A break of the bottom channel would be "BEARISH" IMO. . .
Attached Image (click to enlarge)
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  • #57,679
  • Jan 7, 2008 11:57pm Jan 7, 2008 11:57pm
Quoting quecee5
Looks pretty bullish to me as well and well support by the 8hr 5 sma which happens to be ar'd the daily pivot. The only thing that would negate this is if we see a break of the bottom channel. A break of the bottom channel would mean GJ would be back headed south IMO. . .

  • #57,680
  • Jan 7, 2008 11:59pm Jan 7, 2008 11:59pm
Just a heads up to anyone in a trade or looking to enter, BoJ governor Fukui's notes from his speech in Paris today will be hitting the news wires in approximately 3 hours (6pm Tokyo time). There is speculation he will signal plans to delay raising interest rates. That could be the catalyst that will send this through the triangle to the upside (perhaps significantly).
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