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

  • #77,521
  • May 1, 2008 10:25am May 1, 2008 10:25am
hi dear mike
what is your point of view about GJ
thanks
  • #77,522
  • May 1, 2008 10:28am May 1, 2008 10:28am
Quoting alsup1955
Chevy's are great cars. The classic ones for sure. I have freinds and family that collect these and they are in great demand. I have a 68 dodge charger that I have been offered 80k for. These vintage cars kick the butt over the Euro cars.
Anyway still short from 206.55. Its stalled but should continue in the medium term.....
Ok, my attention is piqued. Those cars are sick. I've been looking for a restoration project around where I live, but there doesn't seem to be any classics around here at all so I just stick to bikes.


On another note, for g/j, we're just being put into squeeze mode right now in between those two lines on my chart. That just spells out consolidation before the breakout comes into play. I'm thinking entry orders 150 pips out of the range on either side and you'd be set for a fairly good trade. The next solid resistance to the upside would be around 213 if that upper line would crack and below I would just set my target for the gates of hell.

Check out this guy, gene22's postings on his counts for g/j. I'm thinking they are spot on and he writes a lot better than I do so it would be easier to understand. 210 could be the top for this third correctional wave up on the weekly chart before coming into that whole area of resistance. As it does, I doubt it will crack it and so I will be starting to add shorts from that level down. What does anyone think?
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I dream, therefore I become.
  • #77,523
  • May 1, 2008 10:33am May 1, 2008 10:33am
FACT

Not sure how it'll play out, still holding Long for now...
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  • #77,524
  • May 1, 2008 10:38am May 1, 2008 10:38am
My wish is she breaks to 203 so I can reposition long
Money & Pain Respect the market, protect your capital, be patient
  • #77,525
  • May 1, 2008 10:46am May 1, 2008 10:46am
I'm sure the gearing between the currencies is one craftily manipulated bit of computing genius.
Money & Pain Respect the market, protect your capital, be patient
  • #77,526
  • May 1, 2008 10:52am May 1, 2008 10:52am
maybe we will see USD similar a carry trade in the next year(similar yen)
  • #77,527
  • May 1, 2008 10:54am May 1, 2008 10:54am
my finger is getting itchy...what do youi think the market will do in the next 30min? i wanna scalp
  • #77,528
  • May 1, 2008 10:56am May 1, 2008 10:56am
Quoting kstorm88
my finger is getting itchy...what do youi think the market will do in the next 30min? i wanna scalp
Low volume, very hard to predict, the best way is - STAY OUT, take a breath, and come again in half hour
  • #77,529
  • May 1, 2008 10:57am May 1, 2008 10:57am
closed my short +111p UJ is bullish for me.. and i got loss today -86
lol 25pp my profit
  • #77,530
  • May 1, 2008 10:58am May 1, 2008 10:58am
what do your charts say guys? Are we going down a bit more before we go up?

Thanks
Money & Pain Respect the market, protect your capital, be patient
  • #77,531
  • May 1, 2008 11:00am May 1, 2008 11:00am
you're right it is sketching. and its kinda consolidating. so we could see a big move coming up. hard to tell which way though
  • #77,532
  • May 1, 2008 11:01am May 1, 2008 11:01am
Quoting kstorm88
my finger is getting itchy...what do youi think the market will do in the next 30min? i wanna scalp
That's a bad idea man. Unless your seeing it yourself, don't believe what somebody else will say about it. That's how to lose money, I promise you this. If you wait for solid setups, put your money there and have a better chance of making a profit.
I dream, therefore I become.
  • #77,533
  • May 1, 2008 11:03am May 1, 2008 11:03am
Quoting toyboy tramp
what do your charts say guys? Are we going down a bit more before we go up?

Thanks
I personally do not see a huge move either way until US Non Farm Payroll report tomorrow.
  • #77,534
  • May 1, 2008 11:05am May 1, 2008 11:05am
Hey Mike, How's it goin. Still here. Slowly gettin back in to the game .Tryin to gain confidence back. So far so good. Just tradin small positions now and only takin high probable trdes. Thanks for all advice about not givin up.
  • #77,535
  • May 1, 2008 11:06am May 1, 2008 11:06am
Quoting drewg
I personally do not see a huge move either way until US Non Farm Payroll report tomorrow.
Very possible
  • #77,536
  • May 1, 2008 11:08am May 1, 2008 11:08am
Quoting kstorm88
you're right it is sketching. and its kinda consolidating. so we could see a big move coming up. hard to tell which way though
If you do not stop tradin live account before you do research and learn for yourself, you will lose it all. You must trade on demo succesfully first.
  • #77,537
  • May 1, 2008 11:13am May 1, 2008 11:13am
Quoting Dmac
Hey Mike, How's it goin. Still here. Slowly gettin back in to the game .Tryin to gain confidence back. So far so good. Just tradin small positions now and only takin high probable trdes. Thanks for all advice about not givin up.
That's excellent man, I'm extremely glad to hear it! Trust me, if you stay in it, you'll win it. That's exactly how you gain the confidence back too is taking high probability trades. And once the confidence is back? Dont change a thing. Once you get ballsy, don't try to be a cowboy and take the trades on the fringe. Last month was a tough one, especially on g/j and I think we all took a few losses throughout the month even on higher probability trades, but that's part of the job- it's a business expense. Anyways, I really am glad I could help out in some way or another. Best of luck to you brother.
I dream, therefore I become.
  • #77,538
  • May 1, 2008 11:14am May 1, 2008 11:14am
Quoting Dmac
If you do not stop tradin live account before you do research and learn for yourself, you will lose it all. You must trade on demo succesfully first.
Listen to the man. Good advice all around.
I dream, therefore I become.
  • #77,539
  • May 1, 2008 11:16am May 1, 2008 11:16am
It could be a pin bar on 4 hour chart. Plenty room to the upside (???)
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  • #77,540
  • May 1, 2008 11:16am May 1, 2008 11:16am
Mike is the man! Whats up mikezzzzzz long time no hear
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