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

  • #67,781
  • Mar 12, 2008 11:41pm Mar 12, 2008 11:41pm
Quoting $teve
The 4H qqe5 crossed down and GJ plummeted. The daily S3, monthly S1 and also the bottom of our range are at 203.60 area. I'm long half position from 203.85 with stop at 203. I really don't like the fact that UJ has broken below 101. This trade is simply a good risk/reward ratio trade. I see there's a good chance UJ and GJ breaking down tonight but I can't ignore the fact that there's tons of support at this level.
I like it. I may join you. But I want to see some bullish Price Action on the 4 hour first.
Indicators show the past. Price Action "Indicates" the future.
  • #67,782
  • Mar 12, 2008 11:46pm Mar 12, 2008 11:46pm
ya allah hi traders ,whether we will see bearish three crows pattern for next day ??
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  • #67,783
  • Mar 12, 2008 11:47pm Mar 12, 2008 11:47pm
Quoting $teve
The 4H qqe5 crossed down and GJ plummeted. The daily S3, monthly S1 and also the bottom of our range are at 203.60 area. I'm long half position from 203.85 with stop at 203. I really don't like the fact that UJ has broken below 101. This trade is simply a good risk/reward ratio trade. I see there's a good chance UJ and GJ breaking down tonight but I can't ignore the fact that there's tons of support at this level.
I also joined you long @203.90 with SL 203. If the SL hits, so be it. If not, we may likely be rewarded hugeeee
  • #67,784
  • Mar 12, 2008 11:48pm Mar 12, 2008 11:48pm
Quoting jarroo
I like it. I may join you. But I want to see some bullish Price Action on the 4 hour first.
I know it's always better to wait for confirmation before taking a position. But confirmation comes with a price and that is a higher price. This trade is more about trusting that this very strong support down here will hold. And also the fact that the weekly momentum for GJ is very bullish. I just don't think this week's candle will close as a big red one. Maybe GU will skyrocket to 2.1 if UJ unwinds so GJ will stall. We will see.
  • #67,785
  • Mar 12, 2008 11:50pm Mar 12, 2008 11:50pm
Quoting $teve
I know it's always better to wait for confirmation before taking a position. But confirmation comes with a price and that is a higher price. This trade is more about trusting that this very strong support down here will hold. And also the fact that the weekly momentum for GJ is very bullish. I just don't think this week's candle will close as a big red one. Maybe GU will skyrocket to 2.1 if UJ unwinds so GJ will stall. We will see.
Well said, my brother.
Indicators show the past. Price Action "Indicates" the future.
  • #67,786
  • Mar 12, 2008 11:51pm Mar 12, 2008 11:51pm
Quoting mktjong
I also joined you long @203.90 with SL 203. If the SL hits, so be it. If not, we may likely be rewarded hugeeee
That's the spirit. What's forex without risk? I'm also picking my spot to make a stand here. A bounce here and we be pippin' If not, then o well, we can always scalp back 85 pips.
  • #67,787
  • Mar 12, 2008 11:54pm Mar 12, 2008 11:54pm
GJ 1week moms
http://www.tradingrooms.com/chartpos...3200845448.png
GJ 1week channels
http://www.tradingrooms.com/chartpos...3200845931.png
  • #67,788
  • Mar 12, 2008 11:58pm Mar 12, 2008 11:58pm
Quoting $teve
That's the spirit. What's forex without risk? I'm also picking my spot to make a stand here. A bounce here and we be pippin' If not, then o well, we can always scalp back 85 pips.
I'm in with you. what the hell 203.50 long
Indicators show the past. Price Action "Indicates" the future.
  • #67,789
  • Mar 12, 2008 11:59pm Mar 12, 2008 11:59pm
Quoting ovaforty
the market just hunted down stops

Do you really think they would move the market down 400 pips in hours to hunt stops????

I do not think so. This move down is true reflection of the state of the global economy and risk aversion in the markets that is all.

Let me see feds put $220 billion of liquidity into the markets .. yeah we had an awesome run ... but by tomorrow will have given much of that gain back.

What r they going to do next cut rates by 1.5% ???? put 1 trillion off liquidity into the markets ?

At this rate ... the markets are dropping fast ... we might hit 200 overnight. Just a hunch .. we never see this movement in the Asian session.
Blogging daily now at www.volume.zone
  • #67,790
  • Mar 13, 2008 12:00am Mar 13, 2008 12:00am
Quoting fer
where are the long position holders with their patience pills?? lol

We are going doooooooooooooooooooooooown

fer
they all keep quiet and hide under table now... haha
  • #67,791
  • Mar 13, 2008 12:01am Mar 13, 2008 12:01am
your long must be looking good now, isn't it? sorry... didn't mean to sound ironic, it's just that i don't understand how can you people pull trades out of thin air.
this is the shortest way to extinct your account.

Quoting $teve
That's the spirit. What's forex without risk? I'm also picking my spot to make a stand here. A bounce here and we be pippin' If not, then o well, we can always scalp back 85 pips.
Nihil Sine Deo.
  • #67,792
  • Mar 13, 2008 12:02am Mar 13, 2008 12:02am
Longs off 203.5 will get burnt ... keep tight stop

This shows signs of panic.... everyone running for the doors
Blogging daily now at www.volume.zone
  • #67,793
  • Mar 13, 2008 12:03am Mar 13, 2008 12:03am
Quoting malcolmb14
Do you really think they would move the market down 400 pips in hours to hunt stops????

I do not think so. This move down is true reflection of the state of the global economy and risk aversion in the markets that is all.

Let me see feds put $220 billion of liquidity into the markets .. yeah we had an awesome run ... but by tomorrow will have given much of that gain back.

What r they going to do next cut rates by 1.5% ???? put 1 trillion off liquidity into the markets ?

At this rate ... the markets are dropping fast ... we might hit 200 overnight. Just a hunch .. we never see this movement in the Asian session.
yes i think a lot of stops got hit
  • #67,794
  • Mar 13, 2008 12:04am Mar 13, 2008 12:04am
Quoting malcolmb14
Longs off 203.5 will get burnt ... keep tight stop

This shows signs of panic.... everyone running for the doors
Yes. 202.90
Indicators show the past. Price Action "Indicates" the future.
  • #67,795
  • Mar 13, 2008 12:06am Mar 13, 2008 12:06am
CME OPEN LOW HIGH LAST CHANGE
MAR2008 205.100 205.100 203.987 206.195 -0.800
JUN2008 203.805 203.805 203.805 203.805 -0.780
SEP2008 201.575 201.575 201.575 201.575 -0.800
  • #67,796
  • Mar 13, 2008 12:06am Mar 13, 2008 12:06am
Quoting ovaforty
yes i think a lot of stops got hit
and when everyone is short, the market will burn their stops too
  • #67,797
  • Mar 13, 2008 12:10am Mar 13, 2008 12:10am
Quoting jarroo
I'm in with you. what the hell 203.50 long
My SL may likely get hit http://www.forexfactory.com/images/icons/icon9.gif
If not, this would really be the bottom I guess. Usd/Jpy low was 100.02 and bounces a bit.
  • #67,798
  • Mar 13, 2008 12:10am Mar 13, 2008 12:10am
I am still standing aside
enjoying this
  • #67,799
  • Mar 13, 2008 12:10am Mar 13, 2008 12:10am
Quoting mktjong
The future Dow is really bearish but close to a solid support.
the YM ..... dow mini futures have dropped 120 points in last 2 hours .. THIS RARELY HAPPENS IN TIME OTHER THAN US SESSION.

something major is happening right now in the markets. There is massive bearishness.
Blogging daily now at www.volume.zone
  • #67,800
  • Mar 13, 2008 12:12am Mar 13, 2008 12:12am
Quoting malcolmb14
the YM ..... dow mini futures have dropped 120 points in last 2 hours .. THIS RARELY HAPPENS IN TIME OTHER THAN US SESSION.

something major is happening right now in the markets. There is massive bearishness.
I tend to agree with you now. It seems Dow future still has room to trend down more ..hmm, oh well..today maybe a losing day for me ..http://www.forexfactory.com/images/icons/icon9.gif
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