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

  • #85,181
  • May 28, 2008 8:30pm May 28, 2008 8:30pm
Quoting Que
I am short and I will not cry if it hits my stop, nor will I go boasting if it hits my TP.

I try to trade with as little emotion as possible.

Out of curiosity, what is your SL?
  • #85,182
  • May 28, 2008 8:30pm May 28, 2008 8:30pm
Quoting Que
I know, the problem is, I have not figured out how to get that pesky chart to go away completly...

hahaa .. so, you're planning to completely trade with the indicators not with the price chart combined ..
  • #85,183
  • May 28, 2008 8:30pm May 28, 2008 8:30pm
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 639 Posts | Online Now
Quoting Scotty B
To address the bulls here. You will find on my blog that I am forecasting prolonged up moves all the way up to the monthly chart in the 250's. The only reason I am calling for a fall is because of that pesky 15 min chart I keep yakking about. Fib cycles always finish, you just don't know which one will first.

Loud and clear! Thanks for the info!
  • #85,184
  • May 28, 2008 8:31pm May 28, 2008 8:31pm
Next news: GBP Nationwide House Prices. Forecast: -0.5% in four more hours and thirty minutes.

This is part of the reason why I'm short.
  • #85,185
  • May 28, 2008 8:32pm May 28, 2008 8:32pm
Quoting bigcoupe
Out of curiosity, what is your SL?
After the news, I moved it to 207.85 for a total risk of 2.5%. Given I did not bother to look and see if any news was comming, I had to bite the bullet when I realized there was not only JPY news, but bad news on top of it.
Que
  • #85,186
  • May 28, 2008 8:33pm May 28, 2008 8:33pm
  •  4x_Trader
  • Joined Dec 2006 | Status: Is the market a FRIENDLY place to U | 639 Posts | Online Now
Quoting Que
Yes, I believe this news is why we have a news spike.

However, the lack of large scale sales is directly related to the lower then normal exports to the United States because of the declining dollar.

The dollar is still weak and the UJ should have an overall downtrends still. This means unless GU has a surge northbound (Given the problems in the UK right now) I doubt this will happen. So I am still short given the news.

I am reading what you are reading. I just think I am interpreting it differently than you. Best of luck to any active trade by you as well sir.
Likewise sir tnx as well.....
  • #85,187
  • May 28, 2008 8:37pm May 28, 2008 8:37pm
good call, have you seen the support on eur yen check it out, i think it might be time.
  • #85,188
  • May 28, 2008 8:43pm May 28, 2008 8:43pm
Quoting Que
I know, the problem is, I have not figured out how to get that pesky chart to go away completly...

Que, you really have a sense of humour
By the way, using indicators other than for divergence is mostly end up in the 95% majority of forex traders. I might spook up a lot of debates here .. ..honestly, I've been there, done that. Now, I minimize it down to only one indicator to spot the divergence.
  • #85,189
  • May 28, 2008 8:45pm May 28, 2008 8:45pm
the 15min chart did not produce a counter trend fractal, however the hour chart is setting up to do it for us. This will be much more significant anyways.
  • #85,190
  • May 28, 2008 8:46pm May 28, 2008 8:46pm
Quoting mktjong
Que, you really have a sense of humour
By the way, using indicators other than for divergence is mostly end up in the 95% majority of forex traders. I might spook up a lot of debates here .. ..honestly, I've been there, done that. Now, I minimize it down to only one indicator to spot the divergence.
If you look at my past posts, you can see my charts. I use EMA 365, 150 and 62. Nothing else, and I only use those as S/R levels.

Now, I have made a LOT of indicators. But I just can't get use to depending on them.

edit:

I also use my Bar Time indicator that does some basic MM on the fly for me. Not really a price indicator though.
Que
  • #85,191
  • May 28, 2008 8:48pm May 28, 2008 8:48pm
Quoting Scotty B
the 15min chart did not produce a counter trend fractal, however the hour chart is setting up to do it for us. This will be much more significant anyways.
And about a target..What would you say?
  • #85,192
  • May 28, 2008 8:53pm May 28, 2008 8:53pm
Quoting Küster
And about a target..What would you say?
206.80 would be easy pips. I'm going much lower than that though. When geppy doesn't hit her outer fib extensions she retreats to the inner fib levels. I gave you the 23 inner fib level. It is the closest most conservative reach.
  • #85,193
  • May 28, 2008 9:05pm May 28, 2008 9:05pm
mktjong,
I am newbie here. Do you use RSI or stoch to draw the divergence ?
Quoting mktjong
Que, you really have a sense of humour
By the way, using indicators other than for divergence is mostly end up in the 95% majority of forex traders. I might spook up a lot of debates here .. ..honestly, I've been there, done that. Now, I minimize it down to only one indicator to spot the divergence.
  • #85,194
  • May 28, 2008 9:06pm May 28, 2008 9:06pm
there is bearich divregnece on h1 and h4
Good judgment comes from experience, and experience comes from bad judgment
  • #85,195
  • May 28, 2008 9:11pm May 28, 2008 9:11pm
Quoting skyscraper
mktjong,
I am newbie here. Do you use RSI or stoch to draw the divergence ?
Hi, I like to use Slow Stoch. I think any oscillator indicator would do fine but better first study its character.
  • #85,196
  • May 28, 2008 9:25pm May 28, 2008 9:25pm
what the magic number for stoch,
any idea guys
  • #85,197
  • May 28, 2008 9:33pm May 28, 2008 9:33pm
Bloomberg reporting that the South Korean Unification Ministry is telling them that "the reports [of Kim Jong Il's death] are false".

South Korean internet service Hankuk News reported late yesterday that Kim had been assassinated outside Pyongyang, citing unidentified officials in China and South Korea.
  • #85,198
  • May 28, 2008 9:42pm May 28, 2008 9:42pm
What is you setting for slow stoch.
Quoting mktjong
Hi, I like to use Slow Stoch. I think any oscillator indicator would do fine but better first study its character.
  • #85,199
  • May 28, 2008 9:42pm May 28, 2008 9:42pm
Quoting Caerus
Bloomberg reporting that the South Korean Unification Ministry is telling them that "the reports [of Kim Jong Il's death] are false".

South Korean internet service Hankuk News reported late yesterday that Kim had been assassinated outside Pyongyang, citing unidentified officials in China and South Korea.
Good, let's start hammering this Geppy down and hard ..
  • #85,200
  • May 28, 2008 9:46pm May 28, 2008 9:46pm
Quoting skyscraper
What is you setting for slow stoch.
5, 3, 3.
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