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

  • #102,541
  • Jul 21, 2008 12:41pm Jul 21, 2008 12:41pm
Quoting lilmoe
i think it's too early to say that. let's wait till then
11440 long 10 point stop
Blogging daily now at www.volume.zone
  • #102,542
  • Jul 21, 2008 12:41pm Jul 21, 2008 12:41pm
We may close off resistance as DHLC on the daily GJ. My daily closes in 2 hrs 18 min.
Attached Image (click to enlarge)
Click to Enlarge Name: gj daily.gif Size: 21 KB
  • #102,543
  • Jul 21, 2008 12:43pm Jul 21, 2008 12:43pm
Quoting malcolmb14
body of todays candle engulfed by body fo Fridays candle = inside bar

and only 30 minutes of day left for ym as the low volume times you cannot take any notice of as they skew support and resistance levels.

Attachment
oh, you was talking about mini dow, i was talking about geppy. Misunderstood.

On my chart geppy has a hanging man, please see chart.

But its a pattern with low reliability.

http://www.candlesticker.com/Cs26.asp
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 16 KB
  • #102,544
  • Jul 21, 2008 12:43pm Jul 21, 2008 12:43pm
Technicals and Price Action are really pointing to higher ground. Never thought I'd go long right at 213.3 but here I am. Need 214 to break for the real pips to flow.
"Timing Is Everything. Really I Swear It Is"
  • #102,545
  • Jul 21, 2008 12:47pm Jul 21, 2008 12:47pm
Quoting TexasforEX
Technicals and Price Action are really pointing to higher ground. Never thought I'd go long right at 213.3 but here I am. Need 214 to break for the real pips to flow.
During what timeframe? If we close as DHLC today, PA will show lower price within the next 24 hours. Just respectfully asking. Thank you.
  • #102,546
  • Jul 21, 2008 12:49pm Jul 21, 2008 12:49pm
Quoting malcolmb14
sometime the market and our minds get hold of us.

In trading I have found my worst enemy is myself.
I admire you for putting it out there about your gbp/chf trade. I believe when we put ourselves out there that it makes us a better trader. Its all about making money and becoming more and more disciplined and you do a great job of it. Lilmoe will be successful also(if he isnt already) for doing that very same thing.
Edit: we ALL lose trades but if we are profitable at the end of each month, then we are doing great. (especially in the crazy summer months)
  • #102,547
  • Jul 21, 2008 12:51pm Jul 21, 2008 12:51pm
Quoting KissFan
During what timeframe? If we close as DHLC today, PA will show lower price within the next 24 hours. Just respectfully asking. Thank you.
If you look at 15 min chart .. very clear bull flag that could go as low as 212.5. This indictaes a potential breakout to upside if the top of the flag is broken This is what I am seeing for the longer term ( 2-5 days)

I typically prefer day trading
Blogging daily now at www.volume.zone
  • #102,548
  • Jul 21, 2008 12:57pm Jul 21, 2008 12:57pm
Quoting KissFan
We may close off resistance as DHLC on the daily GJ. My daily closes in 2 hrs 18 min.



1 h to close on my broker.

I have a close look at gbp/usd. Possible pinbar setup ? I have to wait...
  • #102,549
  • Jul 21, 2008 12:57pm Jul 21, 2008 12:57pm
Quoting malcolmb14
11440 long 10 point stop

out for 12 points

there was hardly any rally into close ... interesting
Blogging daily now at www.volume.zone
  • #102,550
  • Jul 21, 2008 12:58pm Jul 21, 2008 12:58pm
Quoting KissFan
During what timeframe? If we close as DHLC today, PA will show lower price within the next 24 hours. Just respectfully asking. Thank you.

Good afternoon Kissfan,
Technically, I see a couple of 50% retracements on ST time frames, the Daily 5SMA and the 4HR have been shown respect with a kiss and bounce, the pennant on the dailies has been proven as a false break. This trade has very nice R/R with a stop below 213.

Fundamentally, there have been four US financials in a row beating earnings expectations. I'm speculating that Apple will show strong numbers and this will spark a rally in global equities, gbp.jpy will follow and if 214 breaks there will be many stops triggered enhancing the move. There ya go..my thoughts on this trade. (Scary huh?)
"Timing Is Everything. Really I Swear It Is"
  • #102,551
  • Jul 21, 2008 12:58pm Jul 21, 2008 12:58pm
Quoting malcolmb14
If you look at 15 min chart .. very clear bull flag that could go as low as 212.5. This indictaes a potential breakout to upside if the top of the flag is broken This is what I am seeing for the longer term ( 2-5 days)

I typically prefer day trading
OK. I copy that and do not necessarily disagree with you. That 212.5 area would be where I would consider closing my short once I enter after the DHLC forms and tests the upper resistance. Thanks for the reply.
  • #102,552
  • Jul 21, 2008 12:59pm Jul 21, 2008 12:59pm
Quoting PipChick
I admire you for putting it out there about your gbp/chf trade. I believe when we put ourselves out there that it makes us a better trader. Its all about making money and becoming more and more disciplined and you do a great job of it. Lilmoe will be successful also(if he isnt already) for doing that very same thing.
Edit: we ALL lose trades but if we are profitable at the end of each month, then we are doing great. (especially in the crazy summer months)

Thanks pip chick ..... being tired last week and not thinking straight did not help . Typically swing trade stops are 150 pips on crosses , 75 pips on majors and dya trade stops are a lose 50 pips , but will be closed earlier if they are not working the way i want.
Blogging daily now at www.volume.zone
  • #102,553
  • Jul 21, 2008 1:03pm Jul 21, 2008 1:03pm
Quoting TexasforEX
Good afternoon Kissfan,
Technically, I see a couple of 50% retracements on ST time frames, the Daily 5SMA and the 4HR have been shown respect with a kiss and bounce, the pennant on the dailies has been proven as a false break. This trade has very nice R/R with a stop below 213.

Fundamentally, there have been four US financials in a row beating earnings expectations. I'm speculating that Apple will show strong numbers and this will spark a rally in global equities, gbp.jpy will follow and if 214 breaks there will be many stops triggered enhancing the move. There ya go..my thoughts on this trade. (Scary huh?)
Thanks neighbor. I don't pay attention to fundies on the short term basis. I primarily trade the daily TF's. What you say makes sense just fine whether I agree on how to play it is another thing. It's all about what you are comfortable with. Our expectations are based on our experiences. I appreciate your explanation, it gives me some much needed education. Best of trading to you.
  • #102,554
  • Jul 21, 2008 1:04pm Jul 21, 2008 1:04pm
Quoting PipChick
I admire you for putting it out there about your gbp/chf trade. I believe when we put ourselves out there that it makes us a better trader. Its all about making money and becoming more and more disciplined and you do a great job of it. Lilmoe will be successful also(if he isnt already) for doing that very same thing.
Edit: we ALL lose trades but if we are profitable at the end of each month, then we are doing great. (especially in the crazy summer months)
yep, malcomb really is admirable


thanks for the nice words pipchick
  • #102,555
  • Jul 21, 2008 1:05pm Jul 21, 2008 1:05pm
Quoting TexasforEX
Good afternoon Kissfan,
Technically, I see a couple of 50% retracements on ST time frames, the Daily 5SMA and the 4HR have been shown respect with a kiss and bounce, the pennant on the dailies has been proven as a false break. This trade has very nice R/R with a stop below 213.

Fundamentally, there have been four US financials in a row beating earnings expectations. I'm speculating that Apple will show strong numbers and this will spark a rally in global equities, gbp.jpy will follow and if 214 breaks there will be many stops triggered enhancing the move. There ya go..my thoughts on this trade. (Scary huh?)

I love the phrase beating earnings estimates ....not knocking you .. but laughing at the current lies and bs that are going on in the markets last week or so.

citibank expected to lose 7.5 bil .... only lost 2.5

Bank of America ....
The Charlotte, N.C., banking giant (BAC: bank of america corporation com part of the Dow Jones Industrial Average, reported net income fell 41% to $3.41 billion, or 72 cents a share.

got to laugh when banks report massive earnings reductions and losses and the market takes it as good news.
Blogging daily now at www.volume.zone
  • #102,556
  • Jul 21, 2008 1:06pm Jul 21, 2008 1:06pm
Anyone seeing E/U fall to at least 1.5830 still?
Craazy
  • #102,557
  • Jul 21, 2008 1:10pm Jul 21, 2008 1:10pm
hey guys ,

like this thread , like most of u i agree - short ! , what is your first target ?
  • #102,558
  • Jul 21, 2008 1:11pm Jul 21, 2008 1:11pm
Malcomb, You are 100% correct. I trade to make money on current market conditions, sentiment, behavior, etc....

I have a buddy who is a real estate broker and one night when piss drunk he told me something that nearly killed me. "Stupid people make the world go round." C'est la vie.
"Timing Is Everything. Really I Swear It Is"
  • #102,559
  • Jul 21, 2008 1:11pm Jul 21, 2008 1:11pm
chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 4400.gif Size: 21 KB
  • #102,560
  • Jul 21, 2008 1:13pm Jul 21, 2008 1:13pm
Quoting malcolmb14
I love the phrase beating earnings estimates ....not knocking you .. but laughing at the current lies and bs that are going on in the markets last week or so.

citibank expected to lose 7.5 bil .... only lost 2.5

Bank of America ....
The Charlotte, N.C., banking giant (BAC: bank of america corporation com part of the Dow Jones Industrial Average, reported net income fell 41% to $3.41 billion, or 72 cents a share.

got to laugh when banks report massive earnings reductions and losses and the market takes it as good news.
Like I said before, soon the piper has to be paid.
Lets see what tomorrow brings with all the regionals reporting. It is a joke though......
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