Price does what price wants , I just need to be prepared.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #109,162
- Aug 28, 2008 10:02am Aug 28, 2008 10:02am
my long of GU at 1.8320 has turned from 80 pips profit to a loss.
"People sometimes mistake luck with skill"
- #109,163
- Aug 28, 2008 10:12am Aug 28, 2008 10:12am
- Joined Apr 2007 | Status: Senior Principal Trader | 2,699 Posts
already said it this morning...market is very weak. long only in short term or scalping mode. all up moves till now were based on weakness and unable to be sustained. just some faking...the situation has not yet changed.
- #109,164
- Aug 28, 2008 10:18am Aug 28, 2008 10:18am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
In my opinion, this Geppy and GU have been way too oversold. The 199.xx has been traded. I think it would bounce and might retrace 50% which it likes to do most 
- #109,168
- Aug 28, 2008 10:32am Aug 28, 2008 10:32am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
do not always use those rsi values as criterion for only oversold/bought and tend to think it MUST change. i just remember karmo who once said that rsi is able to fight out of the lower tf's overbought/sold areas without significant price bounces.
add another viewpoint...if price stays below particular areas of rsi and flows along there, add to weakness, same for strength above particular areas. that's how i use it in my analysis.
add another viewpoint...if price stays below particular areas of rsi and flows along there, add to weakness, same for strength above particular areas. that's how i use it in my analysis.
- #109,169
- Aug 28, 2008 10:34am Aug 28, 2008 10:34am
already said it this morning...market is very weak. long only in short term or scalping mode. all up moves till now were based on weakness and unable to be sustained. just some faking...the situation has not yet changed.
Any suggestion of the turn around of GJ in this resent time?
am humble!!!!!!!!!!!!!!!!!!1
What goes up comes down, so always make Forex better than u met it.
- #109,171
- Aug 28, 2008 10:48am Aug 28, 2008 10:48am
In my opinion, this Geppy and GU have been way too oversold. The 199.xx has been traded. I think it would bounce and might retrace 50% which it likes to do most
- #109,177
- Aug 28, 2008 11:18am Aug 28, 2008 11:18am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #109,178
- Aug 28, 2008 11:22am Aug 28, 2008 11:22am
- Joined May 2008 | Status: has long shorts | 2,584 Posts
Any suggestion of the turn around of GJ in this resent time?
am humble!!!!!!!!!!!!!!!!!!1
i cannot tell you. my emotions also tell me this thing should reverse now, but market tells another story. we still have weakness inside which proves every now and then. theres no interest in higher prices until now...efforts in rising stay without result. just some faking around. conditions change when they change but right now my bias is still bearish, even tough we have good support below. let's see what the ny boys will do in the last hours to the close...perhaps everything will change with them or the beginning of the asian session.
