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

  • #82,481
  • May 20, 2008 3:33am May 20, 2008 3:33am
at 203 by GBP/JPY and 2.0430 by GBP/CHF ... SL:35 ... we'll see ...

be careful, I could be wrong .... this trading just only for me ... :-)

trade well ....
  • #82,482
  • May 20, 2008 4:01am May 20, 2008 4:01am
some news?
  • #82,483
  • May 20, 2008 4:33am May 20, 2008 4:33am
ok
  • #82,484
  • May 20, 2008 4:36am May 20, 2008 4:36am
What's causing the spike?
Money & Pain Respect the market, protect your capital, be patient
  • #82,485
  • May 20, 2008 4:39am May 20, 2008 4:39am
was it some good news?
i closed my long, i think we going back. short at 203.76
  • #82,486
  • May 20, 2008 4:51am May 20, 2008 4:51am
Quoting Dmac
I still think it will turn and go up it started to retrace right at weelkly and daily support

Looks like false breakout to me. Hmmmm.
  • #82,487
  • May 20, 2008 4:53am May 20, 2008 4:53am
Trendline breach is a first, trying to break 203.9...holding bermudas tight, they're not wet yet
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #82,488
  • May 20, 2008 4:54am May 20, 2008 4:54am
Just provided by: Market News International

20 May 2008 09:42 GMT

CABLE: Extended rally highs to $1.9632, as rate was pulled along by the
strong rally in euro-dollar, while euro-sterling holds back around
stg0.7970. Rate now slipps back below $1.9600, as it again takes
direction from euro-dollar. Offers had been noted between $1.9625/35,
more at $1.9650/60.

Thus the EURO uptrend was obviously the reason.
  • #82,489
  • May 20, 2008 4:57am May 20, 2008 4:57am
Alot of Euro buying doesn't bode well for the $, NY session will be interesting. Hourly candle about to close above 204, q bullish
Money & Pain Respect the market, protect your capital, be patient
  • #82,490
  • May 20, 2008 4:59am May 20, 2008 4:59am
... at 204 for 100 pips by GBP/JPY and at 2.0460 for 60 pips ....

totally 160 pips ... not bad ... :-)
  • #82,491
  • May 20, 2008 5:00am May 20, 2008 5:00am
... 130 pips ... it's ok
  • #82,492
  • May 20, 2008 5:03am May 20, 2008 5:03am
Quoting Dmac
Looks like false breakout to me. Hmmmm.
i am shorting from 204, 4hr 5sma trade + daily gann bounce trade
  • #82,493
  • May 20, 2008 5:11am May 20, 2008 5:11am
... I'm thinking to take long again ... but I'm still waiting now ...
  • #82,494
  • May 20, 2008 5:17am May 20, 2008 5:17am
Where are the usual suspects this morning? Your analysis would be most welcome!
Money & Pain Respect the market, protect your capital, be patient
  • #82,495
  • May 20, 2008 5:21am May 20, 2008 5:21am
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Trade what you see, not what you think.
  • #82,496
  • May 20, 2008 5:21am May 20, 2008 5:21am
... therefore man should be careful to take short ....

I have following strategies ... :

My strategies:

1. Trading time : 06:00 – 17:00 (London time)

2. Trading pair: GBP/JPY (+ GBP/CHF, GBP/USD and EUR/USD)

3. MM : Balance/20.000 (5 % with 100 pips SL) or Balance/50.000 (2 % with 100 SL, more safety)

4. TF : 5 M (as reference: H1, H4 and D1)

5. Indicators: Bollinger Band, Stoch (5,3,3) + trend follower system 5 minutes (there is thread about it, http://www.forexfactory.com/showthread.php?t=40325)

6. Entry: wait signal (+ wait breakout of Bollinger Band)

7. Exit: pivot point/resistance/support ... or it depends on ... :-)

8. I normally open 3 windows (YMM8 (mini dow future) or by US open: DJI, GBP/JPY 5M, GBP/CHF 5 M) ... important to know the tendency of direction ....

9. Fundamental: see calendar FF, Dow & nasdaq, Nikkei, HangSeng, DAX, FTSE ... http://realtimecharts.blogspot.com/2007/09/asia-maijor-indices.html
http://money.cnn.com/data/premarket/

10. The best forex school: www.babypips.com

11. of course very important: see this very good auslanco thread ... :-)

I hope it helps .... there are a lot of good trader in these forum ... I'm still learning ....


  • #82,497
  • May 20, 2008 5:23am May 20, 2008 5:23am
Sorry for shorts guys,4 hr,gan close above and 4 hr. qqe just crossed.

Just hit my target for the day. small profit but good for me.
  • #82,498
  • May 20, 2008 5:28am May 20, 2008 5:28am
Quoting Dmac
Sorry for shorts guys,4 hr,gan close above and 4 hr. qqe just crossed.

Just hit my target for the day. small profit but good for me.

That weekly pivot and daily s1 were too close together which often makes for good support or resistance. This was very suspect to me. That is why I didn't take short. Final target could be 205 area
  • #82,499
  • May 20, 2008 5:30am May 20, 2008 5:30am
Just hope I still have an account when the bulls finish
Money & Pain Respect the market, protect your capital, be patient
  • #82,500
  • May 20, 2008 5:31am May 20, 2008 5:31am
Quoting Dmac
Sorry for shorts guys,4 hr,gan close above and 4 hr. qqe just crossed.

Just hit my target for the day. small profit but good for me.
yea, just 50 pips for me today.... i got stopped out B/E on the other shorts... bummer
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