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

  • #73,461
  • Apr 16, 2008 5:03pm Apr 16, 2008 5:03pm
Shorts are safe GJ's long term trend is DOWN so don't worry. Dont close out your shorts too quickely its the best way to loose money
  • #73,462
  • Apr 16, 2008 5:04pm Apr 16, 2008 5:04pm
Quoting lilmoe
always stay patient bro, i'm short too
i closed my UJ and GJ order , im going to short higher..
  • #73,463
  • Apr 16, 2008 5:08pm Apr 16, 2008 5:08pm
Quoting vinesh2
Shorts are safe GJ's long term trend is DOWN so don't worry. Dont close out your shorts too quickely its the best way to loose money

some people r just too hasty, even if 25 senior traders here say it's going up, THAT DOES NOT MEAN IT'S GOING UP!
it MIGHT, so don't get me wrong!!!
all depends on how u or they interpret their charts
  • #73,464
  • Apr 16, 2008 5:20pm Apr 16, 2008 5:20pm
Quoting quecee5
actually the daily hi/lo gann comes in at 201.80 the top of the daily TL channel is 202.35/50 area. . .
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #73,465
  • Apr 16, 2008 5:24pm Apr 16, 2008 5:24pm
Quoting moneymagnet
you guys making pips. lots of whipsawing going on. i personally took only 63 pips today but i left alot on the table. just didn't trust the movements today. hope all you guys are doing well
Only 63 .. poor you ....
Blogging daily now at www.volume.zone
  • #73,466
  • Apr 16, 2008 5:25pm Apr 16, 2008 5:25pm
Quoting jarroo
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?
200.37 1ST
  • #73,467
  • Apr 16, 2008 5:26pm Apr 16, 2008 5:26pm
Quoting mktjong
Should have some more rooms to the upside, MACD is opened up wide
Don't like it, closed my long for +20 some pips.
  • #73,468
  • Apr 16, 2008 5:27pm Apr 16, 2008 5:27pm
Quoting malcolmb14
Only 63 .. poor you ....
these guys in here are pip stealing fools man. i can't keep up!!!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #73,469
  • Apr 16, 2008 5:29pm Apr 16, 2008 5:29pm
Quoting jarroo
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?
Geppy has already failed 4 times at that descending trend line so I think we'll see it hit it and bounce down from there or if it breaks thru then definitely a re-evaluation will be needed. . .

Keep in mind most are predicting UJ will hit 104 sooner than later which should drag GJ up with it, how far only time will tell. . .

JMO, still on the side lines for now. . .
  • #73,470
  • Apr 16, 2008 5:30pm Apr 16, 2008 5:30pm
Quoting jarroo
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?

A few things going on here.
The daily is in a downnward linear regression channel , however trade the daily charts and expect 500 - 800 pip draw downs on your account.

The bottom of the channel and the 20 sma on the daily is forming support right now.


On the 4 hour we are testing the 50 sma at about 200.80. If we break this to the upside we could easily see a re-test of that 205 level as the 50 sma will form support.

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Click to Enlarge Name: gj105.png Size: 165 KB
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  • #73,471
  • Apr 16, 2008 5:31pm Apr 16, 2008 5:31pm
Quoting vinesh2
Shorts are safe GJ's long term trend is DOWN so don't worry. Dont close out your shorts too quickely its the best way to loose money
Not starting a riot here vinesh, but I don't understand comments like that.
What is your term of safe ?

Had the same issue many weeks ago when some1 stated that short is safe because the overall trend was down. Week later price was visiting 205.

Yes, if you play long-term a "few" hundreds pips might not count too hard on your account. But remember that not too many participants play with these terms.

Although the long-term trend is down this could go several 100's of pips up without being close to change the trends outlook viewed from a higher TF.

Peace.
Measure twice, cut once
  • #73,472
  • Apr 16, 2008 5:34pm Apr 16, 2008 5:34pm
Quoting jarroo
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?
Added to my long position at 200.75. Tight s/l 200.20. Let's see what happens.
Indicators show the past. Price Action "Indicates" the future.
  • #73,473
  • Apr 16, 2008 5:39pm Apr 16, 2008 5:39pm
If all thing remian equal and the GJ keeps with the trend on the 4 hour and breaks the 50 sma , the chnaces of a retracement to 202.5 are VERY HIGH

Looking forward .... Friday between 11am and 1 pm pacific standards is when we will hit it.

Simple geometry

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Click to Enlarge Name: gj107.png Size: 180 KB
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  • #73,474
  • Apr 16, 2008 5:45pm Apr 16, 2008 5:45pm
Quoting jarroo
Talk about confluence!! I think we should go up at test that 201.80.
What do you say, GBPJPY, are you with me?
I'm seeing the same thing you're seeing bro. . .
Price is supported and is trading above the daily 5 SMA close (magenta line) and looks to be testing the 5 SMA high (orange line). . . a break thru this will test the gann hi/lo resiatnce 1st then the upper descending channel that's been rejected 4 times already. . . A break of this trend would cause many shorting GJ to re-evaluate. . . a rejection of this wll probably see 198 then 196.50. . .

daily 5 SMA been tested (white line) and has held as support so far. . .
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 30 KB
  • #73,475
  • Apr 16, 2008 5:47pm Apr 16, 2008 5:47pm
I see people typing 202 and 205

how about 187 :

good luck & good night
Trade what you see, not what you think.
  • #73,476
  • Apr 16, 2008 5:50pm Apr 16, 2008 5:50pm
Quoting quecee5
I'm seeing the same thing you're seeing bro. . .
Price is supported and is trading above the daily 5 SMA close (magenta line) and looks to be testing the 5 SMA high (orange line). . . a break thru this will test the gann hi/lo resiatnce 1st then the upper descending channel that's been rejected 4 times already. . . A break of this trend would cause many shorting GJ to re-evaluate. . . a rejection of this wll probably see 198 then 196.50. . .

daily 5 SMA been tested (white line) and has held as support so far. . .
Here is a weekly chart that could be considered as well. . .
Attached Image (click to enlarge)
Click to Enlarge Name: weekly chart3.gif Size: 29 KB
  • #73,477
  • Apr 16, 2008 5:53pm Apr 16, 2008 5:53pm
Quoting karmostaji
I see people typing 202 and 205

how about 187 :

good luck & good night
I see that later but I also see at least 201.80/90 if not 202.40/50 area 1st target. . .
  • #73,478
  • Apr 16, 2008 5:55pm Apr 16, 2008 5:55pm
Quoting karmostaji
I see people typing 202 and 205

how about 187 :

good luck & good night
if you are going to dream ... dream big ..... 107
Blogging daily now at www.volume.zone
  • #73,479
  • Apr 16, 2008 5:55pm Apr 16, 2008 5:55pm
Quoting karmostaji
I see people typing 202 and 205

how about 187 :

good luck & good night
Gotta love it, to have Karmo back.
Indicators show the past. Price Action "Indicates" the future.
  • #73,480
  • Apr 16, 2008 6:02pm Apr 16, 2008 6:02pm
Quoting malcolmb14
if you are going to dream ... dream big ..... 107


hmmm
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