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

  • #102,501
  • Jul 21, 2008 10:13am Jul 21, 2008 10:13am
Quoting peaches
I just read the postings of the last hours, and have read a lot of questions: will it go up, or will it go down, and answers: down...up...down.

I donīt know if everybodys statement is based of chart analyzing,
but it might be irretating some newbies, if there are statements without a
chart or one or two sentences. I think, thats my point.

I might have to do with the different timeframe, I`am trading.
Okay I see. . .
  • #102,502
  • Jul 21, 2008 10:18am Jul 21, 2008 10:18am
Quoting malcolmb14
flag not broken yet ,,,,, be patient ... lol .... I agree with you on the breakout
it broke when i said it did
Trade what you see, not what you think.
  • #102,503
  • Jul 21, 2008 10:24am Jul 21, 2008 10:24am
it has to brake 213.80 also
and after that - 214 50 on a way i hope i'm right
my long is locked
  • #102,504
  • Jul 21, 2008 10:29am Jul 21, 2008 10:29am
Quoting malcolmb14
,,,,, be patient ... lol ....
lol
  • #102,505
  • Jul 21, 2008 10:30am Jul 21, 2008 10:30am
Quoting karmostaji
it broke when i said it did
just broke mine 5 min ago .... anyway i would not trade this breakout till break of 214. Not enough to the upside for me .According to my system entry on a long / 10 min chart is 213.50 , to close to major R at 213.85 for my liking so i am not going to take the trade.

If we do break R at 214 ish then there will lots of time to play the other side on the retrace after the initial breakout ... and a lot safer trade.

The markets have been very consolidated today during us markets hours ... making for a harder day trading environment than usual

Currently on the YM we are testing the 50 % fib retrace of the move down . We could see a drop below low of day from that price level , taking the gbpjpy down with it back in to the flag. , as the gbpjpy seems to have a .8 correlation with the dj / s& p in the last week or so .
Blogging daily now at www.volume.zone
  • #102,506
  • Jul 21, 2008 10:33am Jul 21, 2008 10:33am
Quoting for_idea
it has to brake 213.80 also
and after that - 214 50 on a way i hope i'm right
my long is locked

This is the beast we are talking about .. it does not have to do anything you think it is going to do !!! just do what your stratergy tells you to do and do not get psychologically married to the trade one way or the other . I did that last week ... it cost me 250 pips on GBPCHF
Blogging daily now at www.volume.zone
  • #102,507
  • Jul 21, 2008 10:39am Jul 21, 2008 10:39am
Quoting malcolmb14
flag not broken yet ,,,,, be patient ... lol .... I agree with you on the breakout
Im with you Malcolmb.Not only the bull flag but at about 214.06 the neckline of the weekly inverse will be broken.
  • #102,508
  • Jul 21, 2008 10:40am Jul 21, 2008 10:40am

Want a present?
Quoting karmostaji
it broke when i said it did
  • #102,509
  • Jul 21, 2008 10:44am Jul 21, 2008 10:44am
Quoting malcolmb14
This is the beast we are talking about .. it does not have to do anything you think it is going to do !!! just do what your stratergy tells you to do and do not get psychologically married to the trade one way or the other . I did that last week ... it cost me 250 pips on GBPCHF
yes you're right.. and yes i've paid too enough for psychological wishes(trades)
  • #102,510
  • Jul 21, 2008 10:45am Jul 21, 2008 10:45am
Quoting malcolmb14
This is the beast we are talking about .. it does not have to do anything you think it is going to do !!! just do what your stratergy tells you to do and do not get psychologically married to the trade one way or the other . I did that last week ... it cost me 250 pips on GBPCHF
nice SL malc.. huh
  • #102,511
  • Jul 21, 2008 10:53am Jul 21, 2008 10:53am
Quoting Piters
nice SL malc.. huh
stop loss ...what is that ???

the mind really kept getting the better of me .. kept moving it up ..... dumb and dumber the sequal!!

however after clearing the account of the losing trade got it all back after US close on Thursday plus some ... in 2 hours....
Blogging daily now at www.volume.zone
  • #102,512
  • Jul 21, 2008 10:54am Jul 21, 2008 10:54am
Looking at weekly chart for the last 8 months the area we are in now has proven to be very strong resistance.

I have to question the probability of anymore upside movement. Technically we are poised for a grand move up, but the weekly chart and the fundies don't match this outlook.
What would motivate this move?
Oil dropping? Don't bet on it.
More upside in equities? Don't bet on it
Interest rate increases? Don't bet on it

One thing I have definitely learned over the past year is that once the herd is "expecting" a move in one direction the sweet beast just moves in the other....
Just an observation....oh and my weekly mom's are ALL pointing down.

Watch for oil to spike; hurricanes, hurricanes, hurricanes..

Gold is meandering up.....something is fishy!
  • #102,513
  • Jul 21, 2008 10:56am Jul 21, 2008 10:56am
ym dropped off that 50 % fib ... gj back in to flag with a sell formation on 10 min chart

This flag could go down to 212.50 and still be a bull flag , amazing how well those Keltner channels work on a 10 min


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  • #102,514
  • Jul 21, 2008 10:59am Jul 21, 2008 10:59am
Quoting Rustyyy
Looking at weekly chart for the last 8 months the area we are in now has proven to be very strong resistance.

I have to question the probability of anymore upside movement. Technically we are poised for a grand move up, but the weekly chart and the fundies don't match this outlook.
What would motivate this move?
Oil dropping? Don't bet on it.
More upside in equities? Don't bet on it
Interest rate increases? Don't bet on it

One thing I have definitely learned over the past year is that once the herd is "expecting" a move in one direction the sweet beast just moves in the other....
Just an observation....oh and my weekly mom's are ALL pointing down.

Watch for oil to spike; hurricanes, hurricanes, hurricanes..

Gold is meandering up.....something is fishy!
Rusty ... I am trying to bury the head in the sand when it comes to news and fundies .... nothing makes sense any more lol ..

I am just trying to trade what is on the charts.....

gbpjpy on the daily shows a possible wave 3 termination above 214 ... then wave 4 down to 214 .... then wave 5 to 219 / 222 zone.

This makes NO sense when ties in with fundies.

oil up due to Hurricanes and melt down in talks with Iran
Gold up due to same reason and any hint of war investors move money to safer things like gold
Blogging daily now at www.volume.zone
  • #102,515
  • Jul 21, 2008 11:04am Jul 21, 2008 11:04am
Quoting malcolmb14
stop loss ...what is that ???

the mind really kept getting the better of me .. kept moving it up ..... dumb and dumber the sequal!!

however after clearing the account of the losing trade got it all back after US close on Thursday plus some ... in 2 hours....

lol,

Nice to be married, (long term) but you can also have few mistresses as well ( short term / scalping)
  • #102,516
  • Jul 21, 2008 11:06am Jul 21, 2008 11:06am
Quoting malcolmb14
Rusty ... I am trying to bury the head in the sand when it comes to news and fundies .... nothing makes sense any more lol ..

I am just trying to trade what is on the charts.....

gbpjpy on the daily shows a possible wave 3 termination above 214 ... then wave 4 down to 214 .... then wave 5 to 219 / 222 zone.

This makes NO sense when ties in with fundies.

oil up due to Hurricanes and melt down in talks with Iran
Gold up due to same reason and any hint of war investors move money to safer things like gold
Agree with you mate. But....sooner or later the piper has to be paid. That is why I mentioned the weekly chart.
The possible upmove just doesn't match this chart.

Now I am not a wave person, I do understand that price moves in waves, but it seems a lot easier to count them afterwards. Please no disrespect intended to EW practitioners.

I am more prone to this analysis made a few days ago...it agrees with mine as well.
and quite honestly that is what I am trading.

http://www.forexfactory.com/showpost...stcount=102088


But I will go long after a strong confirmation of a break of this 214.00 or so level.
  • #102,517
  • Jul 21, 2008 11:18am Jul 21, 2008 11:18am
Quoting Piters
lol,

Nice to be married, (long term) but you can also have few mistresses as well ( short term / scalping)
do i hear two timing here???

what do u think pipchick? you're discussing forex with a bunch of two timers
  • #102,518
  • Jul 21, 2008 11:20am Jul 21, 2008 11:20am
Quoting lilmoe
do i hear two timing here???

what do u think pipchick? you're discussing forex with a bunch of two timers

strictly business, nothing personal

P.S. I am leaving my GY and UY shorts, I am of for tonight, No SL.. (if Malcolm can Do it, I can do it as well) ... c''ya tomorrow
  • #102,519
  • Jul 21, 2008 11:35am Jul 21, 2008 11:35am
Quoting Piters
strictly business, nothing personal

P.S. I am leaving my GY and UY shorts, I am of for tonight, No SL.. (if Malcolm can Do it, I can do it as well) ... c''ya tomorrow
hey I had a stop loss ... just kept moving it..number 4 rule in my trading plan .. do not move stop losses ... lol
Blogging daily now at www.volume.zone
  • #102,520
  • Jul 21, 2008 11:36am Jul 21, 2008 11:36am
Quoting Piters
strictly business, nothing personal

P.S. I am leaving my GY and UY shorts, I am of for tonight, No SL.. (if Malcolm can Do it, I can do it as well) ... c''ya tomorrow

but of course


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