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

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

#103,641
Jul 24, 2008 1:24pm Jul 24, 2008 1:24pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

I'm expecting a bounce from here, if it breaks then 212 should hold

Trade what you see, not what you think.

#103,642
Jul 24, 2008 1:27pm Jul 24, 2008 1:27pm

peterzbox
| Joined Apr 2007 | Status: Trader | 24 Posts

if today closes around 212.75 above or below, we would have a bearish engulfing just below resistance. i would suggest to all who are thinking about long positions to reconsider. the target is 209.83 and below.

#103,643
Jul 24, 2008 1:28pm Jul 24, 2008 1:28pm

dogberry
| Joined Jul 2007 | Status: Trader | 283 Posts

212 or 213? I currently got more than 240 pips profit from shorting at 215.40. Should I close here at 213? thanks!

Quoting karmostaji

Disliked

I'm expecting a bounce from here, if it breaks then 212 should hold

Ignored

#103,644
Edited 3:52pm Jul 24, 2008 1:29pm | Edited 3:52pm

karmostaji
Joined Nov 2006 | Status: Dubai | 11,493 Posts

Quoting dogberry

Disliked

212 or 213? I currently got more than 240 pips profit from shorting at 215.40. Should I close here at 213? thanks!

Ignored

That's up to you, but if 212.88 breaks then 212 is the next target.

Use a trailing stop.

Trade what you see, not what you think.

#103,645
Jul 24, 2008 1:29pm Jul 24, 2008 1:29pm

Vfforexlee
| Joined Mar 2008 | Status: Trader | 451 Posts

Quoting karmostaji

Disliked

I'm expecting a bounce from here, if it breaks then 212 should hold

Ignored

Sent you a pm.

#103,646
Jul 24, 2008 1:30pm Jul 24, 2008 1:30pm

vitagene
| Joined Jul 2007 | Status: O God..Please Make This Guy Richer | 107 Posts

Quoting karmostaji

Disliked

I'm expecting a bounce from here, if it breaks then 212 should hold

Ignored

its trying to break 1 hour ema 200,there where you expect a bounce sheikh karmo?

#103,647
Jul 24, 2008 1:31pm Jul 24, 2008 1:31pm

pkimnyc
Joined Oct 2007 | Status: Sniper | 14,770 Posts

Quoting dogberry

Disliked

212 or 213? I currently got more than 240 pips profit from shorting at 215.40. Should I close here at 213? thanks!

Ignored

I would put the sl ar'd @ 215 and let it run. But, that's just me.

#103,648
Jul 24, 2008 1:32pm Jul 24, 2008 1:32pm

Vfforexlee
| Joined Mar 2008 | Status: Trader | 451 Posts

Quoting pkimnyc

Disliked

I would put the sl ar'd @ 215 and let it run. But, that's just me.

Ignored

I wouldn't for this trade. It's making one last trip back to resistance at 216.2 and then drop from there...

#103,649
Jul 24, 2008 1:36pm Jul 24, 2008 1:36pm

belekas
Joined Sep 2007 | Status: gone fishing | 5,782 Posts

Quoting dogberry

Disliked

212 or 213? I currently got more than 240 pips profit from shorting at 215.40. Should I close here at 213? thanks!

Ignored

I sold @ 215.52. Now ~213 was a support level, might serve as resistance right now. Price has touched 61.8% fib @ 212.84. Price might bullback or continue its way south to the LTL. My target is LTL of the dayly ascending channel (possible rising wedge formation). Im just keeping my short and will add more on the pullback. Nice trading dogberry ;-)

#103,650
Jul 24, 2008 1:38pm Jul 24, 2008 1:38pm

vinesh2
Joined Aug 2007 | Status: Trader | 2,616 Posts

Should see a support bounce on DOW at around 11390 if the correlation is back then should see a bounce on GJ too. UJ is protected by Daily 200 EMA and 5 SMA

#103,651
Jul 24, 2008 1:39pm Jul 24, 2008 1:39pm

pkimnyc
Joined Oct 2007 | Status: Sniper | 14,770 Posts

Quoting Vfforexlee

Disliked

I wouldn't for this trade. It's making one last trip back to resistance at 216.2 and then drop from there...

Ignored

could you please share your thoughts of why you think we will go to 216.20 before the drop, if you don't mind me asking?

#103,652
Jul 24, 2008 1:43pm Jul 24, 2008 1:43pm

Vfforexlee
| Joined Mar 2008 | Status: Trader | 451 Posts

Quoting pkimnyc

Disliked

could you please share your thoughts of why you think we will go to 216.20 before the drop, if you don't mind me asking?

Ignored

Trendline in weekly chart is pointing toward that area. We haven't reached that area yet. Support of 212.1 in weekly chart will hold and we will see a bounce off that.

#103,653
Jul 24, 2008 1:45pm Jul 24, 2008 1:45pm

OrionsWay
Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts

reaction point next 15m bar +-2 bar variable

today was also a buy day and we really pushed the envelope today for average decline, but could still habe a buy under for tomorrow before the rally

"Millionaires don't use astrology, billionaires do"

#103,654
Jul 24, 2008 1:45pm Jul 24, 2008 1:45pm

pkimnyc
Joined Oct 2007 | Status: Sniper | 14,770 Posts

Quoting Vfforexlee

Disliked

Trendline in weekly chart is pointing toward that area. We haven't reached that area yet. Support of 212.1 in weekly chart will hold and we will see a bounce off that.

Ignored

I see. thank you.