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

  • #71,561
  • Apr 2, 2008 9:52am Apr 2, 2008 9:52am
my charts showing slightly different candles thats why i couldnt see it, dunno why that is!

but thankyou
  • #71,562
  • Apr 2, 2008 9:54am Apr 2, 2008 9:54am
1st attempted at the 203.40ish zone
Patience + Humility + Study = Success
  • #71,563
  • Apr 2, 2008 9:54am Apr 2, 2008 9:54am
Quoting DutchTrader
200 ema on the 4hr is a beast right now
Not for long. . .
UJ on a mission so GJ and EJ should benefit from this move. . .
  • #71,564
  • Apr 2, 2008 10:01am Apr 2, 2008 10:01am
Quoting quecee5
Not for long. . .
UJ on a mission so GJ and EJ should benefit from this move. . .
Yep, watching that as well, 205 here we come.
Patience + Humility + Study = Success
  • #71,565
  • Apr 2, 2008 10:02am Apr 2, 2008 10:02am
Quoting quecee5
I closed my short for +1 pips which is always my SL. . .

Charts were showing an upmove and UJ overcame resistance at 101.90/95 area and began to trade over 102 which was my 1st signal that GJ price was headed up. . .
I had the opportunity to set stop to +1 as well which I normally do, but before I went to sleep the short looked good for at least 100 pips. That's how it is though, I was willing to sacrifice 50 pips for the chance of 100. If I was awake I think I would have saw it coming. The last 3 losses I have, occured while I was sleeping. I think I will stop leaving trades open while I sleep, unless it is a swing.

Anyway, the dow looks certain to go to at least 12750 soon. I think if that breaks, gj will be at 205 before we can say helicopter ben.

Bless
Patience + Discipline - Greed = Success
  • #71,566
  • Apr 2, 2008 10:03am Apr 2, 2008 10:03am
DOW will have to make a big move for G/J to hit those levels it is leading minute by minute.
History is written by the victors.
  • #71,567
  • Apr 2, 2008 10:05am Apr 2, 2008 10:05am
Quoting DutchTrader
1st attempted at the 203.40ish zone
Looks like market is gunning to get thru this resistance. . . Check out the 15min chart. . .
Attached Image (click to enlarge)
Click to Enlarge Name: 15min chart.gif Size: 18 KB
  • #71,568
  • Apr 2, 2008 10:09am Apr 2, 2008 10:09am
Q,

Yep, I'm watching it on multiple TF's its just bullish all over the place. As for the Dow needing a big move, that's not necessarily true. A relatively good move in the Dow has seen GJ just go apeshit. Especially with, imvho, technically supported bullish sentiment that's been pent up for a while now.
Patience + Humility + Study = Success
  • #71,569
  • Apr 2, 2008 10:11am Apr 2, 2008 10:11am
Quoting quecee5
Looks like market is gunning to get thru this resistance. . . Check out the 15min chart. . .
and ... we shall not expect this thing to retrace so soon ... today is triple wed my friends ...
Discipline + Patience - Fear - Greed = Success
  • #71,570
  • Apr 2, 2008 10:12am Apr 2, 2008 10:12am
mind commenting on this ??

http://www.forexfactory.com/showpost...5&postcount=40
  • #71,571
  • Apr 2, 2008 10:12am Apr 2, 2008 10:12am
Quoting Infinity
I had the opportunity to set stop to +1 as well which I normally do, but before I went to sleep the short looked good for at least 100 pips. That's how it is though, I was willing to sacrifice 50 pips for the chance of 100. If I was awake I think I would have saw it coming. The last 3 losses I have, occured while I was sleeping. I think I will stop leaving trades open while I sleep, unless it is a swing.

Anyway, the dow looks certain to go to at least 12750 soon. I think if that breaks, gj will be at 205 before we can say helicopter ben.

Bless
Yeah, I make it a rule to never leave trades open unless I'm monitoring them or set a tight SL so I won't give back too many pips. . . But like you stated that's how it goes sometime. . .

I expect GJ to break this resistance before london closes however the key will be if it can get 1hr close above it which would speak volumes and I would add to my position for 204.50 area 1st target. . .
  • #71,572
  • Apr 2, 2008 10:17am Apr 2, 2008 10:17am
Quoting DutchTrader
Q,

Yep, I'm watching it on multiple TF's its just bullish all over the place. As for the Dow needing a big move, that's not necessarily true. A relatively good move in the Dow has seen GJ just go apeshit. Especially with, imvho, technically supported bullish sentiment that's been pent up for a while now.
I agree with your statement, the market has been looking for an excuse to indulge in risky assets for sometime now.
  • #71,573
  • Apr 2, 2008 10:18am Apr 2, 2008 10:18am
Do you guys think there is enough fundamentally right now to sustain these levels? What are your views?
Patience + Discipline - Greed = Success
  • #71,574
  • Apr 2, 2008 10:20am Apr 2, 2008 10:20am
Quoting Infinity
Do you guys think there is enough fundamentally right now to sustain these levels? What are your views?
Watched Bloomberg from the London open for about 3-4 hours and all I heard was whining about US/global recession.
History is written by the victors.
  • #71,575
  • Apr 2, 2008 10:24am Apr 2, 2008 10:24am
Quoting Infinity
Do you guys think there is enough fundamentally right now to sustain these levels? What are your views?
Honestly I don't!

US heading in a slight recession as stated by Bernake for the 1st time, home prices on the decline and oil prices are predicted higher in the near term. However, the fact that Bernake has stated that the economy should look better in 2009 may justify the risky asset appetite for now, today, this week. . .

IMO, I think when the smoke clears we will see prices head lower and perhaps make new lows in the coming weeks months. Remember the market has a very short memory. . .
  • #71,576
  • Apr 2, 2008 10:31am Apr 2, 2008 10:31am
Quoting quecee5
Remember the market has a very short memory. . .
Q,

We should all follow the market's example
Patience + Humility + Study = Success
  • #71,577
  • Apr 2, 2008 10:31am Apr 2, 2008 10:31am
Quoting Infinity
Do you guys think there is enough fundamentally right now to sustain these levels? What are your views?
I had a conversation with one of my friends who trades stock. He told me that the reason for the rally yesterday was because of the begining of the 2nd Qt. New money being invested , and usually lasts about 2-3 days. Therefore expect the rally for 2 days at least, then possible sell off (vix indicator was @ low (can't remember the exact number)).
  • #71,578
  • Apr 2, 2008 10:32am Apr 2, 2008 10:32am
Looks like 203.40/45 area has now turned into support for now. . .
I just added to my position for 203.80/90 area which is weekly R2, a break of this resistance will see 204.75 1st then 205.92. . .
  • #71,579
  • Apr 2, 2008 10:33am Apr 2, 2008 10:33am
Quoting DutchTrader
Q,

We should all follow the market's example
Absolutely! =
  • #71,580
  • Apr 2, 2008 10:34am Apr 2, 2008 10:34am
Quoting quecee5
Looks like 203.40/45 area has now turned into support for now. . .
I just added to my position for 203.80/90 area which is weekly R2 a break of this resistance will see 204.75 1st then 205.92. . .
closed my shorts. going long from here (for the time being). thanks for the heads up Q.
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