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

  • #64,081
  • Feb 29, 2008 2:38am Feb 29, 2008 2:38am
Never trade against the TREND!!! Amen to that.
  • #64,082
  • Feb 29, 2008 2:45am Feb 29, 2008 2:45am
Quoting LeoBond
Never trade against the TREND!!! Amen to that.
If your going to trade against the trend.. hedge!!!
  • #64,083
  • Feb 29, 2008 2:49am Feb 29, 2008 2:49am
Quoting VagyokC4
If your going to trade against the trend.. hedge!!!
If u wanna hedge againts down trend, we should BUY then SELL right?
  • #64,084
  • Feb 29, 2008 2:52am Feb 29, 2008 2:52am
Quoting comeinvest
If u wanna hedge againts down trend, we should BUY then SELL right?
Your sell should be above the buy... depending on trend direction dictates which one goes first.. but in all honesty.. doesn't matter.. if a position is going against you and you down say 50 pips.. a hedge would stop the bleeding as PA tumbles 500+pips... (this is assumng you don't use stop losses)
  • #64,085
  • Feb 29, 2008 3:12am Feb 29, 2008 3:12am
Quoting $teve
We may bounce from here. I'm out of all shorts at 207.60. If the yellow trendline is broken, I'll rejoin short on the retest.

i like your style steve.... do u think maybe we see a penetration of the lower trendline but not a true break.... in other words we could see a big ole pinbar form around this level here


ii guess we will know soon .... i am with u tho.... no shorts for me unless and until this level gives way in a big fashion..with confirmation..... if not we go back up more than likely as kujo and others have pointed out (including karm who we all know is awesome ))) lets see


  • #64,086
  • Feb 29, 2008 3:21am Feb 29, 2008 3:21am
Today is Friday and it is also the end of the month. Movement might be erratic so I'm just gonna stay out all together.
  • #64,087
  • Feb 29, 2008 3:24am Feb 29, 2008 3:24am
Quoting VagyokC4
Your sell should be above the buy... depending on trend direction dictates which one goes first.. but in all honesty.. doesn't matter.. if a position is going against you and you down say 50 pips.. a hedge would stop the bleeding as PA tumbles 500+pips... (this is assumng you don't use stop losses)
Hedge is not good. I've already tried that. Closing the hedge can become a nightmare most of times. It keeps you away from clean trading and wastes your energy.

Additionally the temptation to close the winning side of the hedge when it is well into profit makes the condition worser most of times, because you close it in the wrong time and wrong price then you hedge again when market continues against you.

This makes only the distance between two positions wider and closing the hedged positions more difficult, specially on this pair. Try to cut loses short and go with the trend.

Just my humble opinion ...
Discipline + Patience - Fear - Greed = Success
  • #64,088
  • Feb 29, 2008 3:26am Feb 29, 2008 3:26am
Quoting dagoods
i like your style steve.... do u think maybe we see a penetration of the lower trendline but not a true break.... in other words we could see a big ole pinbar form around this level here


ii guess we will know soon .... i am with u tho.... no shorts for me unless and until this level gives way in a big fashion..with confirmation..... if not we go back up more than likely as kujo and others have pointed out (including karm who we all know is awesome ))) lets see


Imho a bounce could possibly occur around the 161.8 extension.
Attached Image (click to enlarge)
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  • #64,089
  • Feb 29, 2008 3:28am Feb 29, 2008 3:28am
Quoting forexnovice
Imho a bounce could possibly occur around the 161.8 extension.
i'm thinking 138 ext. we shall see
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #64,090
  • Feb 29, 2008 3:30am Feb 29, 2008 3:30am
Quoting moneymagnet
i'm thinking 138 ext. we shall see
I'm thinking the same but it could go to 1618, it should bounce from either one.
Trade what you see, not what you think.
  • #64,091
  • Feb 29, 2008 3:32am Feb 29, 2008 3:32am
Quoting VagyokC4
Your sell should be above the buy... depending on trend direction dictates which one goes first.. but in all honesty.. doesn't matter.. if a position is going against you and you down say 50 pips.. a hedge would stop the bleeding as PA tumbles 500+pips... (this is assumng you don't use stop losses)
beware of hedging, if u close the wrong position, yr account will be instantly margin called!
  • #64,092
  • Feb 29, 2008 3:33am Feb 29, 2008 3:33am
If and when the GJ reverses I am going long and targeting the 377 SMA as the reversal zone to short because it is a fibo series number and two of the previous reversal zones have been at consecutive fibo series numbers of 144 sma and 233 sma on the 4hr chart and you can see the 377 SMA is now starting to come into view... which might just be right around Weekly R2 So, Just a thought. Lets see if it plays out.

"Where Feedback Flows Itelligence Grows"

-Pipimint
Attached Image (click to enlarge)
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Enjoy it while it lasts, then pay for it. Be Grateful.
  • #64,093
  • Feb 29, 2008 3:33am Feb 29, 2008 3:33am
Quoting karmostaji
I'm thinking the same but it could go to 1618, it should bounce from either one.
207 is also a strong S/R level.
Trade what you see, not what you think.
  • #64,094
  • Feb 29, 2008 3:34am Feb 29, 2008 3:34am
Quoting moneymagnet
i'm thinking 138 ext. we shall see
Possible considering that price is oversold on all the smaller TFs. However I like the 161.8 better.
  • #64,095
  • Feb 29, 2008 3:35am Feb 29, 2008 3:35am
20750 broken .. gchf is bleeding faster than geppy:


Quoting forex3e
my s/r level comes in at around 20750 +/- before lower
  • #64,096
  • Feb 29, 2008 3:38am Feb 29, 2008 3:38am
Quoting forexnovice
Imho a bounce could possibly occur around the 161.8 extension.



playing with the gann fan..... what levels are u using???????? how do u decide????? do u just curve fit it?? like this??????
Attached Image (click to enlarge)
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  • #64,097
  • Feb 29, 2008 3:39am Feb 29, 2008 3:39am
UJ has very strong support at 104.30 area based on the weekly chart. I've opened a longterm long at 104.35. I will close it IF 102 is breached. If UJ decides to bounce from here, we might see GJ finally taking off in the coming weeks. But I'll always be wary of 213 area.
  • #64,098
  • Feb 29, 2008 3:39am Feb 29, 2008 3:39am
Quoting arezab
Hedge is not good. I've already tried that. Closing the hedge can become a nightmare most of times. It keeps you away from clean trading and wastes your energy.

Additionally the temptation to close the winning side of the hedge when it is well into profit makes the condition worser most of times, because you close it in the wrong time and wrong price then you hedge again when market continues against you.

This makes only the distance between two positions wider and closing the hedged positions more difficult, specially on this pair. Try to cut loses short and go with the trend.

Just my humble opinion ...
I tried hedging yesterday and you described what experienced very well.
  • #64,099
  • Feb 29, 2008 3:42am Feb 29, 2008 3:42am
Quoting jarroo
Price has broke through the Weekly Inside Bar (Tan highlight). S/R levels for Price Action are 207.75 and 207.00.
Still no signs of reversal.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #64,100
  • Feb 29, 2008 3:50am Feb 29, 2008 3:50am
This is wild.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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