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

  • #98,741
  • Jul 2, 2008 12:57pm Jul 2, 2008 12:57pm
Quoting uncletrumpet
Karmostaji, I entered a short at 210.53 and a stop loss at 212.53
There was a serious draw down up to 150 pips against me. I did not close it cause you said its coming back down.
Thanks
[50sma] Yes, usually is close.

Another thing, you have to keep on your mind, no one here is a market maker. So when we are spottiong a setup, it does mean that it is possible setup, but sometimes in reality can turn in opposite way (dissaster, Bank intervention, Political Speach etc.) So even if you are in position, you have to be on alert all the time, because anything can happend.

Now back to your question: I believe (but again, it is my believe, doesn''t mean that is correct) that we started Wave5 Down. and yes SL should be around that area 212,50.

BUT, BUT BUT again, be alerted, anything can happend. If some bank move the market, you have to be ready to exit the trade.
  • #98,742
  • Jul 2, 2008 1:03pm Jul 2, 2008 1:03pm
Quoting uncletrumpet
Karmostaji, I entered a short at 210.53 and a stop loss at 212.53
There was a serious draw down up to 150 pips against me. I did not close it cause you said its coming back down.
Thanks
ehm..you had a SL 200pips away from the entry price (which in and by itself can be fine)

But since you were so severely hit by going -150 pips, what was then the point of your -200pip SL?

If you SL, when hit, causes you to be severely hit, this means you are trading too big for your account.
  • #98,743
  • Jul 2, 2008 1:04pm Jul 2, 2008 1:04pm
Quoting Piters


Now back to your question: I believe (but again, it is my believe, doesn''t mean that is correct) that we started Wave5 Down. and yes SL should be around that area 212,50.
lol, this is the 4th time this wave5 thing is expected to go down, lol. just messing with ya bud
  • #98,744
  • Jul 2, 2008 1:06pm Jul 2, 2008 1:06pm
I moved from my shorts to longs at 211 after taking a nice profit. If we get this daily candle to close above 211.70 then this should blast off tomorrow.

Higher lows last three days and now a higher high today... Also, if NFP comes out really bad like the ADP repot said then the GJ will have a very difficult time falling (since the GU will be flying). I also see an up channel forming now, and while I thought this would fall to the big trendline around 208 I can't argue with the candle formations we are getting. Keep in mind that the 50% retrace from the major weekly wave down didn't get hit... It may want to go hit that before falling out below 200 again.
  • #98,745
  • Jul 2, 2008 1:10pm Jul 2, 2008 1:10pm
Quoting lilmoe
lol, this is the 4th time this wave5 thing is expected to go down, lol. just messing with ya bud
Belief System is very powerfull my friend. If you don't believe, is not gonna happend..

SO ?!??

(meditations, affirmations, prayers, tarot, palm reading, astrology, every morning, afternoon, night)

Ask Worren Buffet if you don't believe me
  • #98,746
  • Jul 2, 2008 1:12pm Jul 2, 2008 1:12pm
Quoting Piters
Belief System is very powerfull my friend. If you don't believe, is not gonna happend..

SO ?!??

(meditations, affirmations, prayers, tarot, palm reading, astrology, every morning, afternoon, night)

Ask Worren Buffet if you don't believe me
what about good 'ol fashion toss of the coin
  • #98,747
  • Jul 2, 2008 1:21pm Jul 2, 2008 1:21pm
Quoting ukvipersden
what about good 'ol fashion toss of the coin
only for scalping.. TICK chart/1m
the best system.. SL 2pips. TP 5pips..
------------------------------------------

AUD $2 coin
  • #98,748
  • Jul 2, 2008 1:24pm Jul 2, 2008 1:24pm
Quoting Piters
only for scalping.. TICK chart/1m
the best system.. SL 2pips. TP 5pips..
------------------------------------------

AUD $2 coin
I will give it a try - perhaps even on equities and oil: after all, Dow keeps on going DOWN; oil UP

P.S Dow needs its usual medication this evening This is one sick bastard
  • #98,749
  • Jul 2, 2008 1:27pm Jul 2, 2008 1:27pm
OK I am going now,

Lilmoe, don't run your LONGS, I am leaving my shorts open...
If market moves, I''ll know that it was YOU !!

c''ya
  • #98,750
  • Jul 2, 2008 1:32pm Jul 2, 2008 1:32pm
Quoting Piters
Belief System is very powerfull my friend. If you don't believe, is not gonna happend..

SO ?!??

(meditations, affirmations, prayers, tarot, palm reading, astrology, every morning, afternoon, night)

Ask Worren Buffet if you don't believe me

  • #98,751
  • Jul 2, 2008 1:35pm Jul 2, 2008 1:35pm
Quoting Piters
OK I am going now,

Lilmoe, don't run your LONGS, I am leaving my shorts open...
If market moves, I''ll know that it was YOU !!

c''ya
take care bro

i guess i'll go sleep myself, see ya guys later!
  • #98,752
  • Jul 2, 2008 1:41pm Jul 2, 2008 1:41pm
Quoting lilmoe
take care bro

i guess i'll go sleep myself, see ya guys later!
Sleep?? man, what a wimp. call yourself a forex trader
  • #98,753
  • Jul 2, 2008 1:42pm Jul 2, 2008 1:42pm
YM using pivots with +/- 15 points from the pivot high or low ( high for long low for sells)

90 down , 70 up , 60 down , 5 contracts ... nice day
Blogging daily now at www.volume.zone
  • #98,754
  • Jul 2, 2008 1:49pm Jul 2, 2008 1:49pm
Hi Lilmoe !

Could you post your pivots indicator please ?

Thanks in advance !

I have pivot indic, but all without price
  • #98,755
  • Jul 2, 2008 1:53pm Jul 2, 2008 1:53pm
Id only consider selling if way below TL
Attached Image
  • #98,756
  • Jul 2, 2008 2:00pm Jul 2, 2008 2:00pm
Quoting Clouds
Id only consider selling if way below TL
Attachment

I have been using 50 smao n 4 hour .. working a charm

new pivot on 4 hour today (sell pivot) indicating lower highs . The pivot happened right on the 4 hr 50 sma at 212

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 120 KB
Blogging daily now at www.volume.zone
  • #98,757
  • Jul 2, 2008 2:02pm Jul 2, 2008 2:02pm
Quoting malcolmb14
I have been using 50 smao n 4 hour .. working a charm

new pivot on 4 hour today (sell pivot) indicating lower highs . The pivot happened right on the 4 hr 50 sma at 212

Attachment
i dont see lower lows on daily though.
  • #98,758
  • Jul 2, 2008 2:08pm Jul 2, 2008 2:08pm
Quoting Clouds
i dont see lower lows on daily though.
daily candles are strange .. they have long wicks , but the highs seems to be lower highs.

I was using the 4 hour chart on the way up and am now using the 4 hour chart on the way down. If we break the 50 sma on the 4 hour then of course all sell bets are off.

I think we are undergoing some kind of flag on the 2 hour
Blogging daily now at www.volume.zone
  • #98,759
  • Jul 2, 2008 2:11pm Jul 2, 2008 2:11pm
Quoting Clouds
i dont see lower lows on daily though.
8 hour with 50 sma ... last time it even touched it was beginning of month ... now price is trying to break under it

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 126 KB
Blogging daily now at www.volume.zone
  • #98,760
  • Jul 2, 2008 2:13pm Jul 2, 2008 2:13pm
Quoting malcolmb14
daily candles are strange .. they have long wicks , but the highs seems to be lower highs.

I was using the 4 hour chart on the way up and am now using the 4 hour chart on the way down. If we break the 50 sma on the 4 hour then of course all sell bets are off.

I think we are undergoing some kind of flag on the 2 hour
Attached Image
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