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

  • #102,061
  • Jul 18, 2008 9:51am Jul 18, 2008 9:51am
Quoting Scrat
be careful. such a move without a fundamental support means that big guys are positioning for another long run.
i'm preparing to go long on e-u. g-j might go up but it should be limited first by the upper part of weekly channel (higher 216 as of now), and then, if that one is broken, by 219.32. IF 219.32 is taken, then we won't see another huge fall, just the boring "buy the dips". this is rather medium to long term.
on the short term, i am waiting to see a high above yesterday's high and then will closely watch for a retracement which should go as low as 211 at first sight. and from that low... buy for the next 2 weeks. august 1st (give or take 2-3 days at most) should bring us a surprise, at least that's what mr. gann would say...
I thinke may see JU at 105 then GJ at 209 , let us see what happen. side away let big guys play
  • #102,062
  • Jul 18, 2008 9:55am Jul 18, 2008 9:55am
Quoting karmostaji
IMO new high is in order for today, I'll be back later

Speaking of new highs....
Any close above 213 will exceed recent highs (~212.92 on 6/25)
but a close above 213.25 will be significant matching a close on 2/26.
  • #102,063
  • Jul 18, 2008 9:56am Jul 18, 2008 9:56am
209 - 214 is going to be the range for a couple of weeks IMO
  • #102,064
  • Jul 18, 2008 9:57am Jul 18, 2008 9:57am
Quoting fourxtrader
Speaking of new highs....
Any close above 213 will exceed recent highs (~212.92 on 6/25)
but a close above 213.25 will be significant matching a close on 2/26.

Here's the daily chart touching 213.25
Attached Image (click to enlarge)
Click to Enlarge Name: 213.25 close.gif Size: 64 KB
  • #102,065
  • Jul 18, 2008 10:02am Jul 18, 2008 10:02am
Quoting msniper
i still hold my short on EJ and i added more and i will add more if it goes to 170 or 171 ( which is not strong psossiblity )

my target still the same 163.50 and then 160 those target according to Elliot waves.
yea im with u in bear camp EJ
if look on weekly candle chart EJ ,we see a hanging man pattern in top trend.
yea agrre with 163.xx
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 13 KB
  • #102,066
  • Jul 18, 2008 10:02am Jul 18, 2008 10:02am
Judging by this forum they ... meaning the big guys , have done what they want to do. They have turned what was a bearish sentiment a few days a go into a bullish sentiment .. I see 217 , 220 and higher being posted in the forum

Taking retail traders money is the easiest thing for them to do.

Did the fundamentals really turn around in 2 days ?

The UK is starting its downward spiral much like the US has done over the last year or so . The Halifax home price index has suprised to the downside 2 months running.

and to back that up here is the daily chart with a bearish div on the rsi ... double top may be in.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 122 KB
Blogging daily now at www.volume.zone
  • #102,067
  • Jul 18, 2008 10:03am Jul 18, 2008 10:03am
Fairly muted day
"Millionaires don't use astrology, billionaires do"
  • #102,068
  • Jul 18, 2008 10:04am Jul 18, 2008 10:04am
Quoting OrionsWay
Fairly muted day
Managed a few pips eurcad .. a few in gbpchf and a few in gj on scalps
Blogging daily now at www.volume.zone
  • #102,069
  • Jul 18, 2008 10:05am Jul 18, 2008 10:05am
Quoting hussin naiji
yea im with u in bear camp EJ
if look on weekly candle chart EJ ,we see a hanging man pattern in top trend.
yea agrre with 163.xx
also for EURCHF 1.600
  • #102,070
  • Jul 18, 2008 10:05am Jul 18, 2008 10:05am
in case someone needs to close all open positions in one click.
put it in the scripts folder.

locate the s close in scripts, right click, execute on chart, allow DLL import.
Attached File(s)
File Type: mq4 s-CloseOrders.mq4   2 KB | 403 downloads
  • #102,071
  • Jul 18, 2008 10:07am Jul 18, 2008 10:07am
Quoting vinesh2
209 - 214 is going to be the range for a couple of weeks IMO
We're either a few weeks away if we remain in this range
or a 500 pip surge (~118) from hitting this trend line,
then we can crash to ~180.

Dr. D.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ~218 target.gif Size: 74 KB
Click to Enlarge Name: ~~218 target.gif Size: 69 KB
  • #102,072
  • Edited Jul 19, 2008 7:04am Jul 18, 2008 10:07am | Edited Jul 19, 2008 7:04am
I entered more than 3 pairs at the same time EJ, UJ, and GJ. I dont overleverage my account. I risk not more than 5% to in each position.

Quoting malcolmb14
sound to me like you are overleveraging your account with those daily returns

The best traders are the ones that manage money the best . I lost 250 pips on gbpchf , only 3% of account , made that all back on yesterdays close on gbpchf , gbpjpy

I NEVER take more than 3% risk on a swing trade for my stop and typically it is only 1.5 %.

With 12% return a day even with a 200 pip move sounds like you are risking up to 10% of your account per trade. If you made 12% on a 100 pip ,move you are going to blow your account up in no time. As gbpjpy in these volatile times can move aginast you 100 pips in no time.

risk management is KEY in this game . Those traders that understand risk management are the bets traders out there.
  • #102,073
  • Jul 18, 2008 10:09am Jul 18, 2008 10:09am
Quoting malcolmb14
Managed a few pips eurcad .. a few in gbpchf and a few in gj on scalps
good deal, im up about 20 from euro short put on last night but wasnt home to closeon the lo, maybe get another chance before close
"Millionaires don't use astrology, billionaires do"
  • #102,074
  • Jul 18, 2008 10:10am Jul 18, 2008 10:10am
true.
however, i don't see 220 yet. all i see is upper 216. as for the bearish divergence, not yet, we would need to surpass yesterday's high. at this moment it looks like a failure swing on rsi. but this configuration is typical for the 5th subwave during an impulse movement...
i didn't see london booking profits. so i think we'll stay like this over the weekend.

Quoting malcolmb14
Judging by this forum they ... meaning the big guys , have done what they want to do. They have turned what was a bearish sentiment a few days a go into a bullish sentiment .. I see 217 , 220 and higher being posted in the forum

Taking retail traders money is the easiest thing for them to do.

Did the fundamentals really turn around in 2 days ?

The UK is starting its downward spiral much like the US has done over the last year or so . The Halifax home price index has suprised to the downside 2 months running.

and to back that up here is the daily chart with a bearish div on the rsi ... double top may be in.

Attachment
Nihil Sine Deo.
  • #102,075
  • Jul 18, 2008 10:15am Jul 18, 2008 10:15am
Quoting uncletrumpet
I entered more than 3 pairs at the same time EJ, UJ, and GJ. I dont overleverage my account.
3 pairs .. ej ... gj .. uj ... all JPY trades .. alll risk tolerance / aversion trades ... they all move in the same direction
Blogging daily now at www.volume.zone
  • #102,076
  • Jul 18, 2008 10:23am Jul 18, 2008 10:23am
Quoting Scrat
true.
however, i don't see 220 yet. all i see is upper 216. as for the bearish divergence, not yet, we would need to surpass yesterday's high. at this moment it looks like a failure swing on rsi. but this configuration is typical for the 5th subwave during an impulse movement...
i didn't see london booking profits. so i think we'll stay like this over the weekend.

You might think this is this weeks chart ..... looks VERY simialr to price action last few days

In fact this is chart for week ending Feb 27th .... before drop to 192. High 213 .80 .... low of range 208.80 ... sounds like this week doesn't it ? Friday finished on a high ... mm .. SAME PATTERN

I spotted the same divergence then as i do now. I had same arguements with every one .. they thought i was nuts saying down to 200 .

200 by August 15th ....

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 107 KB
Blogging daily now at www.volume.zone
  • #102,077
  • Jul 18, 2008 10:25am Jul 18, 2008 10:25am
Did we just his 214>?
  • #102,078
  • Jul 18, 2008 10:27am Jul 18, 2008 10:27am
...if Oil goes down below 129 (i think it touched 129.1 today) then this rally is gonna have many legs: maybe - just maybe - equal to april fool day/may rally. A breach of 140 would possibly negate the rally - but very unlikely
  • #102,079
  • Jul 18, 2008 10:28am Jul 18, 2008 10:28am
Quoting vinesh2
Did we just his 214>?
not yet. why do you ask?
  • #102,080
  • Jul 18, 2008 10:28am Jul 18, 2008 10:28am
[quote=malcolmb14;2117013]

Did the fundamentals really turn around in 2 days ?


Didn't you hear?

The DOW's sustained the largest 2 day rise since Nov 07... that
bit of news should keep any sinking ship afloat.

Who cares about fundamentals? It's all about media reporting
and market sentiment.

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