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

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

#67,601
Mar 12, 2008 8:29am Mar 12, 2008 8:29am

ovaforty
Joined May 2007 | Status: I Love EMAS! | 1,968 Posts

Quoting malcolmb14

Disliked

lol Godfrey

Honestly .... 300-400 in gbpjpy is just wrong entry . Even if you want to positoin trade a 4 hour get the right entry on a 60 or 30 min chart.

If you trade 20 lots you got to have a massive account

and if everything falls apart and your techanical anaylsis is wrong in the end you will down 300 - 400 pips ... err only 60 to 80 k on 20 lots.

max stop you should have on postion trade gbpjpy is 200.

300-400 means you are not managing your risk properly.

PS this posting is for newbies

Ignored

Getting correct entry point for a swing trade is important. Picking tops and bottoms is risky. It can be suicide if you use bad MM. But if the charts are telling that a retracement is coming then you begin to place very small lot sizes as a "tester" at levels that will be hit in a reasonable amount of time. When you see a trend running out of steam, you can be fairly certain that it will retrace and reload in order to break res/support. So you place a few testers as the market moves against you and be patient. You can continue trading the trend if you had a good entry, while building positions that will be collected later. Hedging a profitable position eliminates early exits.

#67,602
Mar 12, 2008 8:30am Mar 12, 2008 8:30am

GodfreyH
Joined Aug 2007 | Status: Jamaica | 1,069 Posts

Quoting malcolmb14

Disliked

lol Godfrey

Honestly .... 300-400 in gbpjpy is just wrong entry . Even if you want to positoin trade a 4 hour get the right entry on a 60 or 30 min chart.

If you trade 20 lots you got to have a massive account

and if everything falls apart and your techanical anaylsis is wrong in the end you will down 300 - 400 pips ... err only 60 to 80 k on 20 lots.

max stop you should have on postion trade gbpjpy is 200.

300-400 means you are not managing your risk properly.

PS this posting is for newbies

Ignored

Sigh..well, yes, the point I was making is that there are going to be retraces in every trend and we can't get frantic when a retrace may be happening.

Now, in terms of setting stop losses, heres a tip Danryman, money in the bank

, lol, the Gann line is usually a very good resistance. Look very closely at the 30 min in the gbp/yen time frame, and you will notice if the gann line flips, price will almost never go past the gann line, unless the trend has changed. The gann line is not as respected in other time frames, but it is a good place to set your stop in longer time frames as well.

#67,603
Mar 12, 2008 8:40am Mar 12, 2008 8:40am

danryman78
| Joined Jul 2007 | Status: Trader | 114 Posts

Quoting GodfreyH

Disliked

Sigh..well, yes, the point I was making is that there are going to be retraces in every trend and we can't get frantic when a retrace may be happening.

Now, in terms of setting stop losses, heres a tip Danryman, money in the bank , lol, the Gann line is usually a very good resistance. Look very closely at the 30 min in the gbp/yen time frame, and you will notice if the gann line flips, price will almost never go past the gann line, unless the trend has changed. The gann line is not as respected in other time frames, but it is a good place to set your stop in longer time frames as well.

Ignored

ok i agreed with you too . but when i say price is going to reach to 208.50 or so the price should not move opposite of my direction almost 150 pips exactly at the same time .ok?
sometimes price move opposite of you but not at the moment .

#67,604
Mar 12, 2008 8:44am Mar 12, 2008 8:44am

Pyramid
| Joined Aug 2007 | Status: Senior Member | 134 Posts

Quoting Pyramid

Disliked

For me the Bull is Over Bought .
Today is triple swap day but I think , it may go down before to jump up and climb...

Ignored

I see now the bearish is near to be over but becareful , any news can affect it.
Also today is triple interest rate date , so , It may bounce a lot.... 207.99 is a Psycho Resistant .
We need a One Hour Candle now over 206.88 to see price to climb today more.... stay to see how it form !

Imagination is more important than knowledge. -- Albert Einstein

#67,605
Mar 12, 2008 8:49am Mar 12, 2008 8:49am

danryman78
| Joined Jul 2007 | Status: Trader | 114 Posts

congratulation every one specially karmo and buyers
we are going to reach to 206 area !!!!

#67,606
Mar 12, 2008 8:50am Mar 12, 2008 8:50am

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

GJ is in a corrective wave and the demand for the pair is ar'd 205.80/90 which is a good buy entry point. . .

Lets watch and see how this plays out. . .

Cheers!

#67,607
Mar 12, 2008 8:51am Mar 12, 2008 8:51am

ovaforty
Joined May 2007 | Status: I Love EMAS! | 1,968 Posts

Quoting quecee5

Disliked

GJ is in a corrective wave and the demand for the pair is ar'd 205.80/90 which is a good buy entry point. . .

Lets watch and see how this plays out. . .

Cheers!

Ignored

I have been standing aside since yesterday's upmove. I like to buy cheap if I can.

#67,608
Mar 12, 2008 9:03am Mar 12, 2008 9:03am

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting quecee5

Disliked

GJ is in a corrective wave and the demand for the pair is ar'd 205.80/90 which is a good buy entry point. . .

Lets watch and see how this plays out. . .

Cheers!

Ignored

Exact same view, we have 4H gann there and it's the 50% retracement of this last bull-run

Trade what you see, not what you think.

#67,609
Mar 12, 2008 9:07am Mar 12, 2008 9:07am

Jerry
| Joined Feb 2008 | Status: karmo's patience teach me | 734 Posts

Quoting danryman78

Disliked

congratulation every one specially karmo and buyers
we are going to reach to 206 area !!!!

Ignored

thats great very good level for buyers

#67,610
Mar 12, 2008 9:12am Mar 12, 2008 9:12am

dagoods
Joined Nov 2007 | Status: Trader | 3,060 Posts

Quoting quecee5

Disliked

GJ is in a corrective wave and the demand for the pair is ar'd 205.80/90 which is a good buy entry point. . .

Lets watch and see how this plays out. . .

Cheers!

Ignored

good to se ya bud!

i think this lil chart is what u are seeing...same as i am seeing..... unless the support trendline fails of course

cheers!

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#67,611
Mar 12, 2008 9:16am Mar 12, 2008 9:16am

ovaforty
Joined May 2007 | Status: I Love EMAS! | 1,968 Posts

Got my eye on that daily 5 sma area. 206.06/20 area. Moms are mixed for now. I need to see some agreement.

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#67,612
Mar 12, 2008 9:19am Mar 12, 2008 9:19am

venci
| Joined Jul 2007 | Status: Are you trying to win? | 232 Posts

another view ...

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#67,613
Mar 12, 2008 9:22am Mar 12, 2008 9:22am

ovaforty
Joined May 2007 | Status: I Love EMAS! | 1,968 Posts

Quoting venci

Disliked

another view ...

Ignored

a head and shoulder formation would mean a move down if completed. If that is what that formation is....

#67,614
Edited 9:37am Mar 12, 2008 9:25am | Edited 9:37am

mktjong
| Joined Nov 2006 | Status: Trader | 5,040 Posts

Quoting quecee5

Disliked

GJ is in a corrective wave and the demand for the pair is ar'd 205.80/90 which is a good buy entry point. . .

Lets watch and see how this plays out. . .

Cheers!

Ignored

Dow has a support @12130 area, so it's about 60 points from now. Whatever number of pips it corresponds to this pair is a good place to buy I believe. I hope it is not going that low as I already went long @206.69. Will load up again if it goes to that support

#67,615
Mar 12, 2008 9:27am Mar 12, 2008 9:27am

ovaforty
Joined May 2007 | Status: I Love EMAS! | 1,968 Posts

Hourly chart shows a possible cup and handle. moms are mixed for now.

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#67,616
Mar 12, 2008 9:32am Mar 12, 2008 9:32am

quecee5
Joined Oct 2007 | Status: Trader | 5,510 Posts

Quoting dagoods

Disliked

good to se ya bud!

i think this lil chart is what u are seeing...same as i am seeing..... unless the support trendline fails of course

cheers!

Ignored

Good to hear from you too bro -nice chart and yep exactly what I'm seeing.
Here is my roadmap. . .

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#67,617
Mar 12, 2008 9:43am Mar 12, 2008 9:43am

vinesh2
Joined Aug 2007 | Status: Trader | 2,616 Posts

Whats up Q brother!

hope everything is cool have't seen you in a while. Who wants me to bring out the hammer and hammer the geppy down to high 205 to low 206 so we all can buy it cheap. Worked like a charm ysterday.