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

  • #74,701
  • Apr 22, 2008 11:25pm Apr 22, 2008 11:25pm
Waiting to see if this GJ puppy breaks through the daily pivot/weekly pivot price 204.94/204.80...
  • #74,702
  • Apr 22, 2008 11:33pm Apr 22, 2008 11:33pm
woohoo movement

shorted at 205.1
  • #74,703
  • Apr 22, 2008 11:36pm Apr 22, 2008 11:36pm
Jaroo Are U Shorting D Inside Bar Break
  • #74,704
  • Edited Apr 23, 2008 12:11am Apr 22, 2008 11:37pm | Edited Apr 23, 2008 12:11am
Quoting ephisi
Jaroo Are U Shorting D Inside Bar Break
Yeah hang on, I'm working I the lesson learned.
Indicators show the past. Price Action "Indicates" the future.
  • #74,705
  • Apr 22, 2008 11:40pm Apr 22, 2008 11:40pm
Quoting jarroo
Yeah hand on, I'm working I the lesson learned.
dont understand u?
  • #74,706
  • Edited Apr 23, 2008 12:04am Apr 22, 2008 11:51pm | Edited Apr 23, 2008 12:04am
Quoting jarroo
Entered at 205.68 (small position). I woulkd like to see Price moving a little harder. I will add the same at 206.07 for confirmation.
Price was moving very slowly when this IB presented itself. I entered on the break at 205.68. Which is dumb on my part because I usually wait for Price to break this level (or any S/R level) hard and fast. So, I took it any way, it was a small position. My s/l was just below the bottom of this IB at 205.10

Then Price slowly moves up and down. Then breaks hard and fast at the bottom at 205.17. I entered short (full position) at 205.13 and stopped out my long at 205.10 for a 58 pip loss.

I now took half off my short for 43 pips ( to offset some of my lose) and the other half is at break even now.

This is how I practise and learn. Forcing trades is something that I'm still working on.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #74,707
  • Apr 23, 2008 12:06am Apr 23, 2008 12:06am
ya allah
hi all and shahroodi
  • #74,708
  • Apr 23, 2008 12:11am Apr 23, 2008 12:11am
if vote is 9-0 is that bullish?
  • #74,709
  • Apr 23, 2008 12:17am Apr 23, 2008 12:17am
Quoting jarroo
Price was moving very slowly when this IB presented itself. I entered on the break at 205.68. Which is dumb on my part because I usually wait for Price to break this level (or any S/R level) hard and fast. So, I took it any way, it was a small position. My s/l was just below the bottom of this IB at 205.10

Then Price slowly moves up and down. Then breaks hard and fast at the bottom at 205.17. I entered short (full position) at 205.13 and stopped out my long at 205.10 for a 58 pip loss.

I now took half off my short for 43 pips ( to offset some of my lose) and the other half is at break even now.

This is how I practise and learn. Forcing trades is something that I'm still working on.

Now if Price moves up and takes my other half position out at break even. Then this little lesson only cost me 13 pip loss. (actually a reminder of some thing I already know).

Well, why dont you exit your other half position to offset your total loss?

Because I always, always give my trades a chance to run when they cost me nothing. I learned that lesson early and will never forget it.
Indicators show the past. Price Action "Indicates" the future.
  • #74,710
  • Apr 23, 2008 12:22am Apr 23, 2008 12:22am
Let me know guys if I'm babbling too much.
Indicators show the past. Price Action "Indicates" the future.
  • #74,711
  • Apr 23, 2008 12:24am Apr 23, 2008 12:24am
when r u going to decide to get out?
  • #74,712
  • Apr 23, 2008 12:25am Apr 23, 2008 12:25am
Quoting jarroo
Now if Price moves up and takes my other half position out at break even. Then this little lesson only cost me 13 pip loss. (actually a reminder of some thing I already know).

Well, why dont you exit your other half position to offset your total loss?

Because I always, always give my trades a chance to run when they cost me nothing. I learned that lesson early and will never forget it.

plus, if price closes at this level, then it's definitely bearish
  • #74,713
  • Apr 23, 2008 12:25am Apr 23, 2008 12:25am
Quoting jarroo
Let me know guys if I'm babbling too much.
not as much as i do, so u're good
  • #74,714
  • Apr 23, 2008 12:27am Apr 23, 2008 12:27am
Quoting Catch-22
when r u going to decide to get out?
I may lock in some profit if Price moves down more. If not, I will let my break even stop play out.
Indicators show the past. Price Action "Indicates" the future.
  • #74,715
  • Apr 23, 2008 12:28am Apr 23, 2008 12:28am
Quoting lilmoe
plus, if price closes at this level, then it's definitely bearish

price wasn't able to breach 50% of the last retracement from 208.95-203.31, i'm showing a price rejection pattern and a bearish candle on my h4 chart. signalling the resumption of the downtrend. also i have a trade call on my strategy. things couldn't line up better, we just need a close below the pivot for things to be nice and set for another 200 pip downwards movement. i'm guessing weekly 5sma is a good destination.
  • #74,716
  • Edited 1:00am Apr 23, 2008 12:29am | Edited 1:00am
was short 205.78 but have to close all postns, my PC hangs all the way, after updating MT4/build 216/ all seems stable
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  • #74,717
  • Apr 23, 2008 12:29am Apr 23, 2008 12:29am
Quoting jarroo
Let me know guys if I'm babbling too much.
you babble ? ;-)

babble away bud.
  • #74,718
  • Apr 23, 2008 12:30am Apr 23, 2008 12:30am
looks like it test 50% fibo from yesterday price.let see either it can break or not.
  • #74,719
  • Apr 23, 2008 12:32am Apr 23, 2008 12:32am
Quoting lilmoe
price wasn't able to breach 50% of the last retracement from 208.95-203.31, i'm showing a price rejection pattern and a bearish candle on my h4 chart. signalling the resumption of the downtrend. also i have a trade call on my strategy. things couldn't line up better, we just need a close below the pivot for things to be nice and set for another 200 pip downwards movement. i'm guessing weekly 5sma is a good destination.
I think if the 4H can breach 204.39 before the close in 30 mins, the 200sma on the 4H is my TP. (201.30 area)
  • #74,720
  • Apr 23, 2008 12:33am Apr 23, 2008 12:33am
Quoting lilmoe
price wasn't able to breach 50% of the last retracement from 208.95-203.31, i'm showing a price rejection pattern and a bearish candle on my h4 chart. signalling the resumption of the downtrend. also i have a trade call on my strategy. things couldn't line up better, we just need a close below the pivot for things to be nice and set for another 200 pip downwards movement. i'm guessing weekly 5sma is a good destination.
A hard break through the 204.42 S/R level and I will add to my short.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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