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

  • #63,921
  • Feb 28, 2008 9:34am Feb 28, 2008 9:34am
Bernanke Says Fed's Priority Is Shoring Up the Economy, Pledges to Cut Interest Rates

WASHINGTON (AP) -- The Federal Reserve is ready to lower interest rates again to brace the wobbly economy even as zooming oil prices spread inflation, Chairman Ben Bernanke signaled to Congress on Wednesday.

http://biz.yahoo.com/ap/080227/bernanke_congress.html
  • #63,922
  • Feb 28, 2008 9:43am Feb 28, 2008 9:43am
Thanks Q for the heads up. I am actually not looking to long in this market at all only shorts so no matter how high it goes i am going to keep shorting at those levels. Staying with the trend which is my freind.
  • #63,923
  • Feb 28, 2008 9:47am Feb 28, 2008 9:47am
Quoting vinesh2
Thanks Q for the heads up. I am actually not looking to long in this market at all only shorts so no matter how high it goes i am going to keep shorting at those levels. Staying with the trend which is my freind.
Good approach. . .
I decided to get a few pips from the bottom until it turns ar'd. . .
It's a bit OS right now so once it exhaust itself then I'll look to get back in on the short side. . .

Happy pip'n!
  • #63,924
  • Feb 28, 2008 9:51am Feb 28, 2008 9:51am
Quoting $teve
One thing I try to do is never to speculate when a strong S/R will get broken. If you look at the chart I posted, you'll see how many times it has come down to this level and bounced. Now imagine you were speculating a break every time, you would have been wrong every time. Now if you traded the bounce every time, look at how many pips you would have made.

Just like with GJ, you'll never see me mention a price above 213.80. I don't know when it will break so I just assume it will hold every time. I will be right many times but wrong once. Look at the last time GJ bounce from 213.20 prior to this week, it made a low at 208.85 so it's very profitable if you traded the bounce off of these major S/R levels.
Excellent, bears repeating.
  • #63,925
  • Feb 28, 2008 10:05am Feb 28, 2008 10:05am
seems we won't see 217
  • #63,926
  • Feb 28, 2008 10:07am Feb 28, 2008 10:07am
Quoting Jerry
seems we won't see 217
lol don't jinx anything jerry :
Trade what you see, not what you think.
  • #63,927
  • Feb 28, 2008 10:08am Feb 28, 2008 10:08am
Quoting quecee5
Good approach. . .
I decided to get a few pips from the bottom until it turns ar'd. . .
It's a bit OS right now so once it exhaust itself then I'll look to get back in on the short side. . .

Happy pip'n!
Well here she goes. . .
  • #63,928
  • Feb 28, 2008 10:10am Feb 28, 2008 10:10am
We have a candle formed below the daily gann already!!!
  • #63,929
  • Feb 28, 2008 10:11am Feb 28, 2008 10:11am
Quoting karmostaji
lol don't jinx anything jerry :
:will see
  • #63,930
  • Feb 28, 2008 10:12am Feb 28, 2008 10:12am
wow...gogogogo..fibo level 50%(209.84)
  • #63,931
  • Feb 28, 2008 10:13am Feb 28, 2008 10:13am
if todays candle closes below the gann and qqe crosses, patience will pay off BIG time.
Trade what you see, not what you think.
  • #63,932
  • Feb 28, 2008 10:15am Feb 28, 2008 10:15am
Testing the bottom of the 2-22-08 Daily Inside Bar, 209.97
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #63,933
  • Feb 28, 2008 10:16am Feb 28, 2008 10:16am
Quoting karmostaji
if todays candle closes below the gann and qqe crosses, patience will pay off BIG time.
yup i agree..with u karmo...
  • #63,934
  • Feb 28, 2008 10:18am Feb 28, 2008 10:18am
Did anyone notice that the Consumer confidence was released early then expected
  • #63,935
  • Feb 28, 2008 10:21am Feb 28, 2008 10:21am
I'm taking a little off the top to cover my 50 pip loss from eariler.
Indicators show the past. Price Action "Indicates" the future.
  • #63,936
  • Feb 28, 2008 10:22am Feb 28, 2008 10:22am
This keeps getting sweeter and sweeter, It better keep it this way until the close.
Trade what you see, not what you think.
  • #63,937
  • Feb 28, 2008 10:27am Feb 28, 2008 10:27am
Quoting karmostaji
if todays candle closes below the gann and qqe crosses, patience will pay off BIG time.
yes, keeping a short position from 223, I totally agree and understand what being patient means .... It pays well. +1300 and counting.

I'll keep my Patience for this position till we hit 200 area or we break up 214.
Discipline + Patience - Fear - Greed = Success
  • #63,938
  • Feb 28, 2008 10:32am Feb 28, 2008 10:32am
209.30 would be a nice entry for a long but very very very risky. 50 Fib leve from the fall at 214 area back in Jan 25th
  • #63,939
  • Feb 28, 2008 10:35am Feb 28, 2008 10:35am
Quoting vinesh2
209.30 would be a nice entry for a long but very very very risky. 50 Fib leve from the fall at 214 area back in Jan 25th
Tough to pick bottoms.

People who pick bottoms have smelly fingers.
Indicators show the past. Price Action "Indicates" the future.
  • #63,940
  • Feb 28, 2008 10:37am Feb 28, 2008 10:37am
Totaly agree!
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