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

  • #67,801
  • Mar 13, 2008 12:17am Mar 13, 2008 12:17am
Quoting mktjong
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
You have a chance to close your long for small loss now as price is retesting broken support if you don't like your long.
  • #67,802
  • Mar 13, 2008 12:18am Mar 13, 2008 12:18am
Quoting mktjong
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.

Also long at 203.40
There is no bad decisions, its only didn't work out.
  • #67,803
  • Mar 13, 2008 12:19am Mar 13, 2008 12:19am
A lot of traders looking to go long of this price level. I would wait for breakout of at least 20 sma on 15 min to go long , I am not even scalping the bounces on longs here.

Question for you to think about.

Last 2 times we hit 204.5 buyers stepped in IMMEDIATELY ...go back look at 15min charts.

This time on 15 min we are consolidating under the 203.50 level.

That indicates to me there is NO buying interest at this price level other thean the retail trader trying to catch a falling knife.

Just a simple obeservation
Blogging daily now at www.volume.zone
  • #67,804
  • Mar 13, 2008 12:19am Mar 13, 2008 12:19am
Quoting $teve
You have a chance to close your long for small loss now as price is retesting broken support if you don't like your long.
I might able to get it break even and wait after that..
  • #67,805
  • Mar 13, 2008 12:22am Mar 13, 2008 12:22am
Chertkow Says Dollar's Plunge to 80 Yen Is `Possible'

*
USD outlook: He (Bush) wants a strong dollar but he is not doing much to realize a strong currency - Tomoko Fujii at Bank of America
  • #67,806
  • Mar 13, 2008 12:25am Mar 13, 2008 12:25am
Quoting malcolmb14
A lot of traders looking to go long of this price level. I would wait for breakout of at least 20 sma on 15 min to go long , I am not even scalping the bounces on longs here.

Question for you to think about.

Last 2 times we hit 204.5 buyers stepped in IMMEDIATELY ...go back look at 15min charts.

This time on 15 min we are consolidating under the 203.50 level.

That indicates to me there is NO buying interest at this price level other thean the retail trader trying to catch a falling knife.

Just a simple obeservation
I am not thinking about buying at all. I keep selling into the retraces for now
  • #67,807
  • Mar 13, 2008 12:25am Mar 13, 2008 12:25am
Quoting kotaro-san
Chertkow Says Dollar's Plunge to 80 Yen Is `Possible'

*
USD outlook: He (Bush) wants a strong dollar but he is not doing much to realize a strong currency - Tomoko Fujii at Bank of America

Dunno who Chertkow is, but I do know that it never falls all in a straight line. I'm looking to see a big upmove possibly from here and if not, oh well! There's a new trade right around the corner! Have a graet night guys!
I dream, therefore I become.
  • #67,808
  • Mar 13, 2008 12:25am Mar 13, 2008 12:25am
It is really strange, seems like no buyers at all all the way.. a really doomsday huh?
  • #67,809
  • Mar 13, 2008 12:28am Mar 13, 2008 12:28am
we must see that GJ will test 200.50
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  • #67,810
  • Mar 13, 2008 12:29am Mar 13, 2008 12:29am
Quoting mike w
Dunno who Chertkow is, but I do know that it never falls all in a straight line. I'm looking to see a big upmove possibly from here and if not, oh well! There's a new trade right around the corner! Have a graet night guys!
Yeah. I have a small position at 203.50. I'll let it stop out at 202.90. But if I catch 30-40 pips, I'm out. lol

I don't like picking bottoms. You know what they say about people picking bottoms . . . they have smelly fingers.
Indicators show the past. Price Action "Indicates" the future.
  • #67,811
  • Mar 13, 2008 12:29am Mar 13, 2008 12:29am
Come on GJ 202....
  • #67,812
  • Mar 13, 2008 12:31am Mar 13, 2008 12:31am
Paul Chertkow is the head of currency research at Bank of Tokyo-Mitsubishi UFJ Ltd

BoJ says they WILL NOT intervene if USD/JPY falls below parity.

Pressure MOUNTS against USD that there are MASSIVE buy stops agains USD
  • #67,813
  • Mar 13, 2008 12:32am Mar 13, 2008 12:32am
Short? Long? Oh my, what to do??
Attached Image
FUBAR...
  • #67,814
  • Mar 13, 2008 12:35am Mar 13, 2008 12:35am
Quoting ak4x
Short? Long? Oh my, what to do??
daily S2 level @ 203.14
lets see
  • #67,815
  • Mar 13, 2008 12:35am Mar 13, 2008 12:35am
Hope this action/news would come to a rescue, otherwise bye-bye .. going to sleep now.

OIL: Profit-taking has weighed on crude in Asian trade Thursday
although the contract is holding on to stellar recent gains above
$109.50. The Nymex WTI April 08 contract was last at $109.56 - down 36
cents of the day. The contract earlier hit $110.12 in Asian trade just
shy of the record intraday high at $110.20 hit Weds.
  • #67,816
  • Mar 13, 2008 12:42am Mar 13, 2008 12:42am
Trend is friend...Trade as a trader.......
  • #67,817
  • Mar 13, 2008 12:45am Mar 13, 2008 12:45am
Quoting fising
Trend is friend...Trade as a trader.......
What does it mean to "trade as a trader?"
History is written by the victors.
  • #67,818
  • Mar 13, 2008 12:52am Mar 13, 2008 12:52am
Quoting Money-RX
What does it mean to "trade as a trader?"
  • #67,819
  • Mar 13, 2008 1:05am Mar 13, 2008 1:05am
Well, it's been a full and good day of trading with over 300 pips booked.
Would have been better if I hadn't got In and Out of trades all day....
Had shorts from 207.17...... ahhh Live and learn, but wont' complain and not being greedy.

I'll be back on at 4amPST, so off to bed.

I wonder if this is the bottom ?
Won't try to pick it, just wait to see where price is at in the am.

Good trading all.

kj
  • #67,820
  • Mar 13, 2008 1:06am Mar 13, 2008 1:06am
Quoting hussin naiji
Good answer.
History is written by the victors.
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