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

  • #59,481
  • Jan 17, 2008 6:40am Jan 17, 2008 6:40am
Gbp/usd continued to fall down over 1500 pips.
I have always tended to the recent easing down to the situation.
See day map,it is in the short-term bottom.
I still look at 1.9750.
And 2.0000 may again test.
My name is liujiangshi. {Links Removed}
  • #59,482
  • Jan 17, 2008 6:43am Jan 17, 2008 6:43am
I have 3 short positions open from 209.83 but I also hedged them just in case. I think we are still in a downtrend but the market is a little crazy right now. I might be right or wrong but I am just trading what I see.
  • #59,483
  • Jan 17, 2008 6:50am Jan 17, 2008 6:50am
maybe looking to form a head and shoulders on the hourly...if us news is good at all..i doubt it though we could get a rally then a retrace back down would complete the formation
Fear's for the other guy
  • #59,484
  • Jan 17, 2008 6:51am Jan 17, 2008 6:51am
Quoting ak47dan2004
I have 3 short positions open from 209.83 but I also hedged them just in case. I think we are still in a downtrend but the market is a little crazy right now. I might be right or wrong but I am just trading what I see.

Thats the best way, trade your plan noone elses
"Millionaires don't use astrology, billionaires do"
  • #59,485
  • Jan 17, 2008 6:59am Jan 17, 2008 6:59am
I must admit though that I got to get better at entering trades I have had draw downs of about -20% then go back to where I want it and make 30-40%. It seems my timing is always wrong but when I stick it out I actually profit. Any ideas anybody?
  • #59,486
  • Jan 17, 2008 7:08am Jan 17, 2008 7:08am
Quoting ak47dan2004
I must admit though that I got to get better at entering trades I have had draw downs of about -20% then go back to where I want it and make 30-40%. It seems my timing is always wrong but when I stick it out I actually profit. Any ideas anybody?
Nothin wrong with 2:1 Reward to risk. TIMING thats the hardest part of any trading, price really doesnt matter, cuz im sure noone cares what level or price its at when it begins to fall or rally everyone just wants to catch the swing. There is lots of understanding to be sought in cycle timing.

Yesterday time was up for the geppy as i posted last week watch the 15th 16th reversal date. with lots of study of certain criteria's that date was aknowledged back on 8/17/07 and confirmed on
10/31/07

Looking at the current ST cycle 1/23/08 +- 1 bar suggests another reversal point
"Millionaires don't use astrology, billionaires do"
  • #59,487
  • Jan 17, 2008 7:20am Jan 17, 2008 7:20am
Quoting OrionsWay
Nothin wrong with 2:1 Reward to risk. TIMING thats the hardest part of any trading, price really doesnt matter, cuz im sure noone cares what level or price its at when it begins to fall or rally everyone just wants to catch the swing. There is lots of understanding to be sought in cycle timing.

Yesterday time was up for the geppy as i posted last week watch the 15th 16th reversal date. with lots of study of certain criteria's that date was aknowledged back on 8/17/07 and confirmed on
10/31/07

Looking at the current ST cycle 1/23/08 +- 1 bar suggests another reversal point
Thanks for your insight I always thought I was a really lousy trader because of the timing thing then I saw my account grow and grow so I guess you are right thanks again.
  • #59,488
  • Jan 17, 2008 7:40am Jan 17, 2008 7:40am
Quoting DollaBill
FX Open Positions Summary

http://fxtrade.oanda.com/share/i/corner_lt.gif http://fxtrade.oanda.com/share/i/edge_ct.gif http://fxtrade.oanda.com/share/i/corner_rt.gif http://fxtrade.oanda.com/share/i/edge_lc.gif
Sampled Thu Jan 17 04:31:00 2008 (EST)
(Next sampling: Thu Jan 17 05:31:00 2008 (EST))
http://fxtrade.oanda.com/resources/t...ce_GBP_JPY.png
where can I find this chart? Could you post the web address please?
I searched their web site but I couldn't find it.

thanks
Discipline + Patience - Fear - Greed = Success
  • #59,489
  • Jan 17, 2008 7:42am Jan 17, 2008 7:42am
Quoting arezab
where can I find this chart? Could you post the web address please?
I searched their web site but I couldn't find it.

thanks
http://fxtrade.oanda.com/resources/t...rsummary.shtml
  • #59,490
  • Jan 17, 2008 7:50am Jan 17, 2008 7:50am
Quoting DollaBill
Agreed! It may not get there fast but it'll get there

  • #59,491
  • Jan 17, 2008 7:55am Jan 17, 2008 7:55am
Quoting ak47dan2004
I must admit though that I got to get better at entering trades I have had draw downs of about -20% then go back to where I want it and make 30-40%. It seems my timing is always wrong but when I stick it out I actually profit. Any ideas anybody?
You and me both. Patience normally prevails, unless you are caught on the wrong end of a massive move...GBPUSD and especially GBPJPY are not to be taken lightly. I really have to think twice before touching this pair. Some other pairs may not move 100's of pips in 20 mins, but they offer the same rewards, IMO.
  • #59,492
  • Jan 17, 2008 7:58am Jan 17, 2008 7:58am
Quoting TIckerShuffl
You and me both. Patience normally prevails, unless you are caught on the wrong end of a massive move...GBPUSD and especially GBPJPY are not to be taken lightly. I really have to think twice before touching this pair. Some other pairs may not move 100's of pips in 20 mins, but they offer the same rewards, IMO.

out of curiousity to which pairs are you referring? majors?
  • #59,493
  • Jan 17, 2008 7:58am Jan 17, 2008 7:58am
Quoting HidaBull
http://fxtrade.oanda.com/resources/t...rsummary.shtml
That is handy!! It that marketwide data?
  • #59,494
  • Jan 17, 2008 8:00am Jan 17, 2008 8:00am
Any ideas on why this thing took off high. I was away and my shorts kicked in at 210.65 and 211.50
  • #59,495
  • Jan 17, 2008 8:03am Jan 17, 2008 8:03am
I still hate my strategy but I am up 165+ pips so I guess it's working anyone have any ideas or methods of helping decide when to get into a trade?
  • #59,496
  • Jan 17, 2008 8:07am Jan 17, 2008 8:07am
i have a triangle formation on my 1 hour..see how it plays out..maybe time to buy up to 215
Fear's for the other guy
  • #59,497
  • Jan 17, 2008 8:07am Jan 17, 2008 8:07am
Inverse head and shoulder trying to form on the 4 hour chart. It still has room for upward movent. 4 hour moms look a bullish for now.
It should test the 61 fib and the brown 55 sma at 213.04/50 area. If that breaks look for 215 area 50% fib. 1st target is previous high at 212.37 area. Downward sloping trendline was breeched, then retraced and broken again.
Attached Image (click to enlarge)
Click to Enlarge Name: head and shoulder 4hr.gif Size: 20 KB
  • #59,498
  • Jan 17, 2008 8:07am Jan 17, 2008 8:07am
Quoting TIckerShuffl
That is handy!! It that marketwide data?
No, it is Oanda users only
  • #59,499
  • Jan 17, 2008 8:07am Jan 17, 2008 8:07am
Quoting dagoods
out of curiousity to which pairs are you referring? majors?
That's a fair question. Historically I have done the best with EURCAD, USDCAD...lately I like the trading action in AUDUSD. Generally though I know people who trade nothing but EURUSD and do very well.
  • #59,500
  • Jan 17, 2008 8:08am Jan 17, 2008 8:08am
Quoting TIckerShuffl
That is handy!! It that marketwide data?
No this is 1 single tiny bucketshop, FX is massive
"Millionaires don't use astrology, billionaires do"
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