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

  • #96,741
  • Jun 24, 2008 10:33am Jun 24, 2008 10:33am
Quoting ukvipersden
...right on cue, gap filled: so, we fall to new lows after Fed fiasco (i mean meeting).
pathetic pump, no conviction at all: what they gonna do when fed stays pat
  • #96,742
  • Jun 24, 2008 10:47am Jun 24, 2008 10:47am
Quoting Evilgoat
they are the security codes for your hidden moon base?
Que
  • #96,743
  • Jun 24, 2008 10:53am Jun 24, 2008 10:53am
Quoting Scrat
i've said it many times... and i'm gonna say it again: there are certain levels where you can expect price to bounce, no matter what the trend is at that moment. for example, put these horizontal lines on a naked M30 or H1 chart: 203.90, 205, 206.05, 207.80, 209.60, 211.65, 213.70. then go back in the past (even a couple of years should do it) and see what happened when price touched these levels. give or take 10-20 pips.
why are they so important? take a guess.
Are you asking "why?", or do you already have the answer... because there is already a system which calculates these levels mathematically. (Yours are close).
  • #96,744
  • Jun 24, 2008 10:55am Jun 24, 2008 10:55am
Quoting pips4life
Are you asking "why?", or do you already have the answer... because there is already a system which calculates these levels mathematically. (Yours are close).
fibs don't lie: do they???
  • #96,745
  • Jun 24, 2008 11:12am Jun 24, 2008 11:12am
Quoting Infinity
based on what?
based on the fact that it's been called for , for at least 5 weeks now, and we have yet to see it! At some point a big fall will come. And since it's been long time since we had one, this must mean it's just around the corner! Right?

So goes the logic.. (i am kidding ofc)

remember, even a broken clock gets it right twice a day
  • #96,746
  • Jun 24, 2008 11:22am Jun 24, 2008 11:22am
Quoting pr0spero
based on the fact that it's been called for , for at least 5 weeks now, and we have yet to see it! At some point a big fall will come. And since it's been long time since we had one, this must mean it's just around the corner! Right?

So goes the logic.. (i am kidding ofc)

remember, even a broken clock gets it right twice a day

Pros, being your prolly deep in the money atm on your positions great perspective. BUT a person would have to be utter retard to buy the hi at any point of any trend. Better to watch it walk away or wait for a pullback


another thing what makes u think it has enough deman to break 168.85 area hi which was 3 months 7 days shy of a 7 year cycle and when most corrections are at least 1.5-3 years of such a cycle ?
"Millionaires don't use astrology, billionaires do"
  • #96,747
  • Jun 24, 2008 11:37am Jun 24, 2008 11:37am
Quoting pr0spero
based on the fact that it's been called for , for at least 5 weeks now, and we have yet to see it! At some point a big fall will come. And since it's been long time since we had one, this must mean it's just around the corner! Right?

So goes the logic.. (i am kidding ofc)

remember, even a broken clock gets it right twice a day
Even if you were gambling, the odds would still be against you with this outlook....
Patience + Discipline - Greed = Success
  • #96,748
  • Jun 24, 2008 11:40am Jun 24, 2008 11:40am
U just gotta know there is BIG sell orders above that HI LOL anything above this is artificial
"Millionaires don't use astrology, billionaires do"
  • #96,749
  • Jun 24, 2008 11:41am Jun 24, 2008 11:41am
Quoting Infinity
Even if you were gambling, the odds would still be against you with this outlook....
I fully agree! Which is why one should make sure they are not the broken clock, ever calling for the top in a rising market, and vice versa ;-)
  • #96,750
  • Jun 24, 2008 11:44am Jun 24, 2008 11:44am
This whole EU must be reexamined, almost every country within its debacle is starving. It must deflate or anarchy will be a bi product of the tyranny
"Millionaires don't use astrology, billionaires do"
  • #96,751
  • Jun 24, 2008 11:47am Jun 24, 2008 11:47am
This GBP/JPY is pissing me off. It had the guts to break the strong trendline on the weekly!
  • #96,752
  • Jun 24, 2008 11:56am Jun 24, 2008 11:56am
Or maybe that is their goal and the new jerUSAlem shall stand as the pillars for eternity
"Millionaires don't use astrology, billionaires do"
  • #96,753
  • Jun 24, 2008 11:58am Jun 24, 2008 11:58am
Quoting forexmoments
This GBP/JPY is pissing me off. It had the guts to break the strong trendline on the weekly!
given that correlation has gone, trading the Dow is far easier...it's going down, down, down
  • #96,754
  • Jun 24, 2008 12:00pm Jun 24, 2008 12:00pm
Quoting OrionsWay
Pros, being your prolly deep in the money atm on your positions great perspective. BUT a person would have to be utter retard to buy the hi at any point of any trend. Better to watch it walk away or wait for a pullback


another thing what makes u think it has enough deman to break 168.85 area hi which was 3 months 7 days shy of a 7 year cycle and when most corrections are at least 1.5-3 years of such a cycle ?
Hi Orion as a reply I paste this daily chart of the EUR/USD. I mark various stages where traders would "logically" call a top and a big correction or even a reversal long overdue! Yet it hasn;t happened yet.

The E/Y chart is even more bullish. I am not saying that a reversal will never come. All I am saying is that one is much better off betting on the continuation of the trend, than attempting to catch its (eventual) reversal

Within this framework then, setting limit buys ABOVE the latest highs pays big, over and over again (in a bullish trend, the opposite for a bearish trend). You know, "Buy high sell higher" in uptrends, "sell low, buy lower" in a bear trend and all that good stuff..

e.g. in this EUR/USD chart, If I am not in already, I'd be setting limit buys above the last all time high zone, assuming continuation of uptrend. One would do this every time the market went through a consolidation phase. Sure, the last such phase before reversal he would stand to lose, but only AFTER he would have amassed a series of wins.http://img50.imageshack.us/img50/5530/topsoc1.jpg
  • #96,755
  • Jun 24, 2008 12:01pm Jun 24, 2008 12:01pm
Quoting OrionsWay
Or maybe that is their goal and the new jerUSAlem shall stand as the pillars for eternity

nothing man made will last an eternity
  • #96,756
  • Jun 24, 2008 12:03pm Jun 24, 2008 12:03pm
Quoting Evilgoat
nothing man made will last an eternity
That's the best quote I've ever heard man. Everything goes back to nature. Your a cool dude.
I dream, therefore I become.
  • #96,757
  • Jun 24, 2008 12:03pm Jun 24, 2008 12:03pm
Quoting pr0spero
Hi Orion as a reply I paste this daily chart of the EUR/USD. I mark various stages where traders would "logically" call a top and a big correction or even a reversal long overdue! Yet it hasn;t happened yet.

The E/Y chart is even more bullish. I am not saying that a reversal will never come. All I am saying is that one is much better off betting on the continuation of the trend, than attempting to catch its (eventual) reversal

Within this framework then, setting limit buys ABOVE the latest highs pays big, over and over again (in a bullish trend, the opposite for a bearish trend). You know, "Buy high sell higher" in uptrends, "sell low, buy lower" in a bear trend and all that good stuff..

e.g. in this EUR/USD chart, If I am not in already, I'd be setting limit buys above the last all time high zone, assuming continuation of uptrend. One would do this every time the market went through a consolidation phase. Sure, the last such phase before reversal he would stand to lose, but only AFTER he would have amassed a series of wins.http://img50.imageshack.us/img50/5530/topsoc1.jpg
very similar to gbp/usd chart this time last year: it can't go any higher...it reached 2.13 if i recall correctly.
  • #96,758
  • Jun 24, 2008 12:09pm Jun 24, 2008 12:09pm
Pros, i understand momentum of ledges triangles hooks, them days are over for the bull, everyone gets a turn to play dont be a hog LOL
"Millionaires don't use astrology, billionaires do"
  • #96,759
  • Jun 24, 2008 12:10pm Jun 24, 2008 12:10pm
Quoting ukvipersden
very similar to gbp/usd chart this time last year: it can't go any higher...it reached 2.13 if i recall correctly.
yeah..imagine an utter retard who just looked to buy the break of the highs of every consolidation phase. Well, by now he would have been one rich retard, and one with a no loss record to boot! (Notice how most corrections of a prior leg up retrace only about a third of the prior move, before continuation of the up trend. In a few cases the correction retraced 50%, no more.

A retard trading simply on the line of the chart continuing in the same direction untill...well, it stopped doing so (duh!), would hopefully be smart enough to place a SL below the 40% or 50% retracement of up legs. If the SL got hit, he'd just place limit buys higher, again assuming that the market would eventually continue to move up and pick him up again along the way!
And what do you know, he'd have a great trading record for 2 yrs now

adapt this to your timeframe and...
  • #96,760
  • Jun 24, 2008 12:14pm Jun 24, 2008 12:14pm
Quoting OrionsWay
Pros, i understand momentum of ledges triangles hooks, them days are over for the bull, everyone gets a turn to play dont be a hog LOL
well like Soros I think said "it takes courage to be a pig" LOL

Bears will eventually have their party too. It will start with me giving them back some of my profits, as SLs get hit and the market takes me out of my longs.

And I may even join them
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