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

  • #60,401
  • Jan 29, 2008 7:25am Jan 29, 2008 7:25am
Quoting eye4spot
Don't hurry up, wait for the news.
Yes, that's probably why price came down. Traders getting out before the news. I should have seen it coming.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,402
  • Jan 29, 2008 7:25am Jan 29, 2008 7:25am
Quoting arezab
... well I think many of those "free trades" (with +1 stops) has been closed by this +100 pips downfall ... no worries ... open it again. I think uptrend is still on .
if GJ shall cross 212.85 line up it might be a sign that long is still intact;
usually fib level must be reached and after that it'd reverse or retrace
  • #60,403
  • Jan 29, 2008 7:29am Jan 29, 2008 7:29am
Quoting Pippiper
Here is a trade that I took this morning. Notice how .618 and .786 retracements were prevalent in this pattern. As you can see target 1 was obtained and trail stops were taken out on second contract.
No disrespect Pippiper, but your chart is very hard to read.
Indicators show the past. Price Action "Indicates" the future.
  • #60,404
  • Jan 29, 2008 7:36am Jan 29, 2008 7:36am
Quoting karmostaji
Ofcourse the uptrend is still on and my trade is still swimming, good luck
Karmo, do you think we will touch %50 fib (which I see it around 217.50) this week? I see there are many important US and UK new on the way in few days and some of them are positive.

We've almost touched %38.2 which is 214.28 but still below ...

I think if we breach this level by tomorrow, then %50 fib will be accessible by the end of this week.
Discipline + Patience - Fear - Greed = Success
  • #60,405
  • Jan 29, 2008 7:37am Jan 29, 2008 7:37am
Back in at 212.65 S/R. Stop loss at 212.30 below S/R.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #60,406
  • Jan 29, 2008 7:39am Jan 29, 2008 7:39am
Quoting arezab
Karmo, do you think we will touch %50 fib (which I see it around 217.50) this week? I see there are many important US and UK new on the way in few days and some of them are positive.

We've almost touched %38.2 which is 214.28 but still below ...

I think if we breach this level by tomorrow, then %50 fib will be accessible by the end of this week.
I have no clue of when, but I think it should atleast touch the 50% if not 61.8% (it's possible) before resuming downtrend, it doesn't matter how long coz the longer it takes.. the more interest I get
Trade what you see, not what you think.
  • #60,407
  • Jan 29, 2008 7:41am Jan 29, 2008 7:41am
Quoting jarroo
No disrespect Pippiper, but your chart is very hard to read.

Please let me know in which way it is hard to read, the colors? If you mean it is to small and blurry, you can click on the chart and it will open it up in another window and be clearer, if you let me know what you mean I can be sure to fix it next time. Thanks for the constructive criticism, makes things better.
Pippiper
  • #60,408
  • Jan 29, 2008 7:53am Jan 29, 2008 7:53am
216.65 could this be the magic number...

regards
kip it simpel when inn doubt stay out... (Trade at your own risk)
  • #60,409
  • Jan 29, 2008 7:56am Jan 29, 2008 7:56am
Quoting Pippiper
Please let me know in which way it is hard to read, the colors? If you mean it is to small and blurry, you can click on the chart and it will open it up in another window and be clearer, if you let me know what you mean I can be sure to fix it next time. Thanks for the constructive criticism, makes things better.
As long as you can read them that's what's important. It's just to busy for me. I'm a Price Action guy. I can't see price through all those lines and wiggles.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #60,410
  • Jan 29, 2008 7:56am Jan 29, 2008 7:56am
Quoting OrionsWay
Great buy ops on last nights dip during state of union, hope u all got some
got some both ways, on the drop and now up. . .
  • #60,411
  • Jan 29, 2008 8:02am Jan 29, 2008 8:02am
Hi All,
I am new to this forum. by looking at number of post(1400) in this thread,

I am curious to know that any one making money with this method?
  • #60,412
  • Jan 29, 2008 8:05am Jan 29, 2008 8:05am
Quoting forexmad
Hi All,
I am new to this forum. by looking at number of post(1400) in this thread,

I am curious to know that any one making money with this method?
Yep, follow it and u will as well. . .
  • #60,413
  • Jan 29, 2008 8:05am Jan 29, 2008 8:05am
Quoting forexmad
Hi All,
I am new to this forum. by looking at number of post(1400) in this thread,

I am curious to know that any one making money with this method?
yes.
Trade what you see, not what you think.
  • #60,414
  • Jan 29, 2008 8:15am Jan 29, 2008 8:15am
Quoting quecee5
got some both ways, on the drop and now up. . .

Thats great Q keep it up

only looking long since i am long 4.88,7.08,7.58, 10.43,10.62 and 11.09 best trading to u all
"Millionaires don't use astrology, billionaires do"
  • #60,415
  • Jan 29, 2008 8:27am Jan 29, 2008 8:27am
Hi, everybody...
IMHO the retracement will take some time to happen,but it is hard for me to see it at the level above 217.xx, thought my fibs are showing 216.65 + it levels up nicely with the previous resistant.
If you do - don't be afraid, if you are afraid - don't do
  • #60,416
  • Jan 29, 2008 8:33am Jan 29, 2008 8:33am
Quoting forexmad
Hi All,
I am new to this forum. by looking at number of post(1400) in this thread,

I am curious to know that any one making money with this method?

YES.... but many of us have derived our own variation of aus wonderful methods at this point adding in other filters, watching price action using fibs etc. no system is perfect and should be considered in context with the market conditions and prce action....but aus systems are some of the most powerful i've seen but IMO u shouldnt trade anything blindly, but rather in context hope this helps
  • #60,417
  • Edited 9:04am Jan 29, 2008 8:48am | Edited 9:04am
Quoting forexmad
Hi All,
I am new to this forum. by looking at number of post(1400) in this thread,

I am curious to know that any one making money with this method?
Well I think it really depends on yourself whether you mentally follow the system and avoid emotional trading or not. Actually there are many winning systems out there which are profitable but first of all you should prepare yourself to have discipline, trust yourself, trust the system (after some demo) and stick to it to be able to win.

I've seen many guys who have a nice system but still losing money. Aus system is nice and besides there are many experienced guys in this thread who can really help you with this system. In fact you will learn everything if you follow the thread.

Remember that there are several barriers we should always tackle to become successful trader. I have my abbreviation for them "GFOHH" which are Greed, Fear, Overconfidence, Haste and Hope. I think we really can not overcome all of this obstacles forever since we are humans. In fact there is always a battle between being a Human or a Robot in order to be successful. Humans have sense and power of decision and on the other hand Robots have no emotions.
I think in financial markets both of those are useful but we should learn to create a balance between them and use them each in their right time and proper place.
I think this is the first and the most important part of the game. If we can handle it we've done %80 of the job. Then nearly every system which you think is fit for you will work and will be profitable.

I think "Forex is simple but not easy".

Cheers
Discipline + Patience - Fear - Greed = Success
  • #60,418
  • Jan 29, 2008 9:00am Jan 29, 2008 9:00am
what's with the selloff??
The odds are on my side; let's hope they stay that way!!!
  • #60,419
  • Jan 29, 2008 9:01am Jan 29, 2008 9:01am
Quoting jarroo
Back in at 212.65 S/R. Stop loss at 212.30 below S/R.
i think your stop is hit now http://qsmile.com/qsimages/73.gif
  • #60,420
  • Jan 29, 2008 9:04am Jan 29, 2008 9:04am
Quoting shahroodi
i think your stop is hit now http://qsmile.com/qsimages/73.gif
LOL!
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