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

  • #106,221
  • Aug 8, 2008 3:45am Aug 8, 2008 3:45am
211 is 61.8 fib of the rally from 208 to 215.80 and also a lower daily TL, and also very close to monthly 5sma: TOUGH.

the same TL on the weekly chart shows 210.50 (just like scrat says) if we close at or below that level today (weekly candle), the next weekly candle will open below the TL (unless we get a gap upwards).

now, 4h CCI 30 just crossed below -100 line. and if that's maintained (with no reversals) we'll get a daily qqe 5 cross below the 50 line (something we didn't have since april).
  • #106,222
  • Aug 8, 2008 3:45am Aug 8, 2008 3:45am
Any profit is good.
That is not for u I think.

Quoting trickytrader
you are saying I don;t know what i'm doing?
Whats wrong with taking profit when I feel that its going to go up a bit?
It’s just emotions & money
  • #106,223
  • Aug 8, 2008 3:48am Aug 8, 2008 3:48am
Quoting trickytrader
you are saying I don;t know what i'm doing?
i don't think he meant any harm bro

Quoting trickytrader
Whats wrong with taking profit when I feel that its going to go up a bit?

NOTHING AT ALL!! that's the best way to trade

however, on the LONGER run, i found that taking partial profits (closing half or more positions) is better.
  • #106,224
  • Aug 8, 2008 3:50am Aug 8, 2008 3:50am
hi bear camp
  • #106,225
  • Aug 8, 2008 3:53am Aug 8, 2008 3:53am
Quoting hussin naiji
hi bear camp
Hi Hussin,

'R you calling from Hawaii ??
  • #106,226
  • Aug 8, 2008 3:53am Aug 8, 2008 3:53am
anyway, I closed all my trades between 21100 and 21110, it has already gone up by about 20 pips and i believe it will reach the 21160-70 area at least
PIPPED TO THE LINE
  • #106,227
  • Aug 8, 2008 3:54am Aug 8, 2008 3:54am
Quoting hussin naiji
hi bear camp
  • #106,228
  • Aug 8, 2008 3:58am Aug 8, 2008 3:58am
Quoting lilmoe
hi lilmoe
now in fact im in hawaii
hotel bonga bonga
Attached Image
  • #106,229
  • Aug 8, 2008 3:58am Aug 8, 2008 3:58am
A break below 210.56 today will make me very happy indeed.

Check out this PF, could be a great place to add a couple of testers in expectation of continuation. Price has been all over it, pivoting and retesting where it is supposed to.
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  • #106,230
  • Aug 8, 2008 4:01am Aug 8, 2008 4:01am
Somebody stop the loonie, its gone totally berserk...lol.
  • #106,231
  • Aug 8, 2008 4:02am Aug 8, 2008 4:02am
lilmoe attention to CADYEN
we can see three mountains tops in daily
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  • #106,232
  • Aug 8, 2008 4:14am Aug 8, 2008 4:14am
where is the ground for GJ before it bounce?
Lost...
  • #106,233
  • Aug 8, 2008 4:18am Aug 8, 2008 4:18am
Quoting good
Somebody stop the loonie, its gone totally berserk...lol.
nah, I think we're going to break the trendline....i was concerned even at the last bounce up a couple of days ago - there was too much congestion there, and gu was going down big time... watching it...
  • #106,234
  • Aug 8, 2008 4:43am Aug 8, 2008 4:43am
Laugh at me as you like, didnt close my long when GJ ard 213.5 and end up MC now (weak money management and lack of skill)...
But at least i'm free now (sounds like loser, look like loser, but i believe not yet a loser)... Those who dun want to laugh, pls kindly teach me... thks...
Lost...
  • #106,235
  • Aug 8, 2008 4:44am Aug 8, 2008 4:44am
Quoting worlhin
where is the ground for GJ before it bounce?
The ground is 208

This damn US bull run is going to finish today or I'll punch a hole in the screen
Discipline + Patience - Fear - Greed = Success
  • #106,236
  • Aug 8, 2008 4:47am Aug 8, 2008 4:47am
Quoting arezab
The ground is 208

This damn US bull run is going to finish today or I'll punch a hole in the screen
actually..the ground is 0, nada, finito...baby

sorry could not resist
  • #106,237
  • Aug 8, 2008 4:50am Aug 8, 2008 4:50am
Quoting worlhin
Laugh at me as you like, didnt close my long when GJ ard 213.5 and end up MC now (weak money management and lack of skill)...
But at least i'm free now (sounds like loser, look like loser, but i believe not yet a loser)... Those who dun want to laugh, pls kindly teach me... thks...
My dear friend do you follow an indicator or something on your chart? If you follow a simple indicator like MACD or something things like that won't happen again at all. The problem is that we guess the market movement and don't follow the chart because of greed, fear and haste.

This is one of obstacles in front of everybody in first days.

BTW be patient you'll learn everything in time ...
Discipline + Patience - Fear - Greed = Success
  • #106,238
  • Aug 8, 2008 4:51am Aug 8, 2008 4:51am
Quoting worlhin
Laugh at me as you like, didnt close my long when GJ ard 213.5 and end up MC now (weak money management and lack of skill)...
But at least i'm free now (sounds like loser, look like loser, but i believe not yet a loser)... Those who dun want to laugh, pls kindly teach me... thks...
If you have or haven't, go and study this website babypips.com

study it well and then practice a lot, you will get there.. believe in yourself
Trade what you see, not what you think.
  • #106,239
  • Aug 8, 2008 4:51am Aug 8, 2008 4:51am
U/J looks to be heading downwards and G/U looks slightly bullish for the moment
U/J would be my choice to short now.
PIPPED TO THE LINE
  • #106,240
  • Aug 8, 2008 4:52am Aug 8, 2008 4:52am
Quoting arezab
The ground is 208

This damn US bull run is going to finish today or I'll punch a hole in the screen
If we break this weekly bearish flag quite frankly i don't see a firm ground at 208. It might struggle around that area for a while but all in all we might see a bounce at around 203.8-204.5

Break of that area and i won't see support until 197

and yes, that USD bull run has been a pain to look at since it clearly signals extreme overbought areas and yet it refuses to fall.

Oh and MBIA follows Ambac in posting 2nd quarter net incomes after accounting for billions of dollars worth in liability writedowns. conservative GAAP has since left the building.
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