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

  • #73,021
  • Apr 13, 2008 2:51pm Apr 13, 2008 2:51pm
Quoting GodfreyH
hi dear bro
  • #73,022
  • Apr 13, 2008 2:53pm Apr 13, 2008 2:53pm
Quoting DutchTrader
Lawd....FWIW FX trading is really hyping up in developing areas. Good and bad because of scenarios you just pointed out. I am headed to T&C this summer with a friend who's Dad trades out of T&C pretty hefty fund in the 500mill + range, he's Jamaican as well.

Yes, I believe I know that fund, pays very well.
  • #73,023
  • Apr 13, 2008 3:40pm Apr 13, 2008 3:40pm
Quoting DutchTrader
UJ is higher above 101, fwiw I think this is hilarious. G7 meets and everything in the US is supposedly hunkee doree. 192 bitches~!!!
All that is left in FF is just plain garbage. "Cloggie"
  • #73,024
  • Apr 13, 2008 3:48pm Apr 13, 2008 3:48pm
A great shake upon the open today, USD shorts will be feeling like a cat in room filled with rocking chairs
"Millionaires don't use astrology, billionaires do"
  • #73,025
  • Apr 13, 2008 3:49pm Apr 13, 2008 3:49pm
goodmorning everyone,

according to my chart on vt trader, we already had a 50% retracement, but i'm not showing on any of my small TFs that the retracement has ended. i'm only showing that the price has went down all the way to 5sma on my m30 chart. i'm guessing the market will be a bit slow untill london...

any thoughts?
  • #73,026
  • Apr 13, 2008 3:54pm Apr 13, 2008 3:54pm
@Orionsway
Patience + Humility + Study = Success
  • #73,027
  • Apr 13, 2008 3:54pm Apr 13, 2008 3:54pm
Quoting lilmoe
goodmorning everyone,

according to my chart on vt trader, we already had a 50% retracement, but i'm not showing on any of my small TFs that the retracement has ended. i'm only showing that the price has went down all the way to 5sma on my m30 chart. i'm guessing the market will be a bit slow untill london...

any thoughts?

5sma on 1h chart also
  • #73,028
  • Apr 13, 2008 3:58pm Apr 13, 2008 3:58pm
[quote=GodfreyH;1949610]Ah Dmac (this is as much written to myself and others, as well as Dmac), where to start...

OK, firstly the way I see it, forex trading is based on 3 pillars.

1. Good Strategy
2. Money Management
3. Clear focus / clarity of mind.

Now, the best way to decode an equation is to identify the variables and as college professors will say, "cetaris paribus", (other things being equal), you focus on one variable at a time assuming the other variables to be held constant.

All of the above are vitally important, none of them can stand on its own, and so, in no particular order, we will dissect the forex equation.................


Two very well written posts GodfreyH. Thankyou. A nice reminder of the basics.
regards,
D.
where thought goes energy flows
  • #73,029
  • Apr 13, 2008 4:04pm Apr 13, 2008 4:04pm
Quoting DutchTrader
@Orionsway

U will see DT euro drop 120+ on open not by chance, dollar is done. volume of last weeks action tells the story. If the strongest economy is this bad what will happen to not such powerful countries when the ripple effect carries forth.
"Millionaires don't use astrology, billionaires do"
  • #73,030
  • Apr 13, 2008 4:06pm Apr 13, 2008 4:06pm
My broker didn't close my short, so that is good
  • #73,031
  • Apr 13, 2008 4:07pm Apr 13, 2008 4:07pm
Quoting OrionsWay
U will see DT euro drop 120+ on open not by chance, dollar is done. volume of last weeks action tells the story. If the strongest economy is this bad what will happen to not such powerful countries when the ripple effect carries forth.
I agree. I'm looking for 1.60 its just a matter of time really. My broker just opened and the EU looks to be edging up again.
Patience + Humility + Study = Success
  • #73,032
  • Apr 13, 2008 4:09pm Apr 13, 2008 4:09pm
Good day all. . . =

Here are a couple of simple charts I will be working from until the end of the month and could be considered. The 1st two are weekly charts, then a daily then a 4hr chart. ..

From here on out I will only be taken trades from the 4hr and daily charts using 1hr chart for entry only. . .

I will be checking-in maybe once or twice a day but will not be trading smaller LTF anymore. . .

Good luck all in your trading this week. . .
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 4hr chart.gif Size: 27 KB
  • #73,033
  • Apr 13, 2008 4:09pm Apr 13, 2008 4:09pm
Nice open for GU. Time for it to start heading towards my 1.75 target
  • #73,034
  • Apr 13, 2008 4:24pm Apr 13, 2008 4:24pm
G7 comments suggest concerns with USD price being too low too fast, could see some short covering early in the week before GJ heads down much further. . .

Also, a break of 196.85/95 support would target 194 area then back to the lows (192.50 area) and perhaps lower. . .

A break of 202 resistance will probably challenge 203.40/45 area 1st target, then on to 206 area if trading above 203.40/45 area is sustained. . .

Good luck. . .
  • #73,035
  • Apr 13, 2008 4:25pm Apr 13, 2008 4:25pm
Quoting quecee5
G7 comments suggest concerns with USD price being too low too fast, could see some short covering early in the week before GJ heads down much further. . .

Also, a break of 196.85/95 support would target 194 area then back to the lows (192.50 area) and perhaps lower. . .

A break of 202 resistance will probably challenge 203.40/45 area 1st target, then on to 206 area if trading above 203.40/45 area is sustained. . .

Good luck. . .
Q,

See you around. I think we're headed down to the lows bro. We started off pre market at 201, then opened at 199.50 and now are headed down.
Patience + Humility + Study = Success
  • #73,036
  • Apr 13, 2008 4:29pm Apr 13, 2008 4:29pm
Quoting DutchTrader
Q,

See you around. I think we're headed down to the lows bro. We started off pre market at 201, then opened at 199.50 and now are headed down.
Dutch. When my broker opens up, I'll be on a road trip. Going south for a while. I think I'll stop off and get gas at the 195 mile marker then head on to my 192 destination. Hope I don't detour, and end up heading north out of my direction.
http://www.forexfactory.com/images/icons/icon7.gif
All that is left in FF is just plain garbage. "Cloggie"
  • #73,037
  • Apr 13, 2008 4:30pm Apr 13, 2008 4:30pm
Quoting tonyo524
Dutch. When my broker opens up, I'll be a a road trip. Going south for a while. I think i'll stop off and get gas at the 195 mile marker then head on to my 192 destination. Hope I don't detour, and end up heading north out of my direction.
http://www.forexfactory.com/images/icons/icon7.gif

The only way you head North if you have a woman driver






ladies I'm kidding :
Patience + Humility + Study = Success
  • #73,038
  • Apr 13, 2008 4:32pm Apr 13, 2008 4:32pm
All that is left in FF is just plain garbage. "Cloggie"
  • #73,039
  • Apr 13, 2008 4:36pm Apr 13, 2008 4:36pm
for the guppy befor complet his way he will back to the 5sma so i see 125 pip to long... thnx to lilmoe
Attached Image (click to enlarge)
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my immortal
  • #73,040
  • Apr 13, 2008 4:36pm Apr 13, 2008 4:36pm
Quoting markam
Nice open for GU. Time for it to start heading towards my 1.75 target

not far from true at all...

according to this monthly chart, gbp/usd has has been bounced off 76.4 fibo of both historical high and low. bounces off of that level will insure a good term of downtrend for both this month and next month... also, we right now at 38.2% fib since low of 1.70 (back in november 2005) and high of 2.11 (past november), i'm guessing at least 1.80 (76.4 - 78.6 fibo levels, also historical 50% fibo) by the end of 2009, or maybe way earlier, since we have qqe pointing DOWN. if breached we SHOULD have the price retest the low of 1.70.
the only thing, in my own opinion, that should get in the way of that downtrend is the historical 61.8% fibo... i'm guessing a bounce off of that price...
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