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

  • #109,741
  • Sep 2, 2008 7:13am Sep 2, 2008 7:13am
Quoting rrram2
When many folks added to their longs at 199.00, we were tempted but didnt go for it.

And now I am tempted to get longs down low here where it is a good "value"
laugh!.

But I think even though she is clearly oversold, she is coming down some more.

My TP's on the shorts are still set at 189.00, but 187.50 wouldnt be too bad either as a final target.
How loose are your s/l's? Or are you even using s/l's?
Do you think the karate kid knows kung-fu?
  • #109,742
  • Sep 2, 2008 7:20am Sep 2, 2008 7:20am
But I use tiny positions, AND I DONT recommend anyone trade without Sl's in place, UNLESS you have at least 3 very good of your OWN reasons.

Quoting ddblue
How loose are your s/l's? Or are you even using s/l's?
  • #109,743
  • Sep 2, 2008 7:36am Sep 2, 2008 7:36am
no, it's actually an EW rule... in a motive wave, 4 can not overlap 1; obviously, 210.56 is 1, but we haven't seen 4 yet.

Quoting howard
Is this break of your green monthly trend line?
Nihil Sine Deo.
  • #109,744
  • Sep 2, 2008 7:54am Sep 2, 2008 7:54am
Quoting Scrat
but when market makers are at work on gbp, like they seem to be now... i think indicators are pretty much useless. i have no intention of going long, just patiently wait until all retracements are done and then will add more shorts.
for us noobs, ur detailed explanation is worth it's weight in "lots of pips "
  • #109,745
  • Sep 2, 2008 7:56am Sep 2, 2008 7:56am
My first target may fill today or tommorrow based on the FUN damentals..

OIL is down and the US strength against all currencies..

Wait and see what happen....

Position 193.50 long... Target 197.00 350 pips possible...

Retracement to the (38.2) 197.94 on the hourly chart..


You be the judge on the chart...
Attached Image (click to enlarge)
Click to Enlarge Name: huorly chart gj.gif Size: 45 KB
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  • #109,746
  • Sep 2, 2008 8:09am Sep 2, 2008 8:09am
yes, sure, but so far i don't think the breakout is confirmed.

Quoting rgitt05
My first target may fill today or tommorrow based on the FUN damentals..

OIL is down and the US strength against all currencies..

Wait and see what happen....

Position 193.50 long... Target 197.00 350 pips possible...

Retracement to the (38.2) 197.94 on the hourly chart..


You be the judge on the chart...
Nihil Sine Deo.
  • #109,747
  • Sep 2, 2008 8:17am Sep 2, 2008 8:17am
I have a hedge position to reduce the lose and possible gain more pips the other direction...

Keep it simple and be patience...



There are other things to do besides watching charts...





Quoting Scrat
yes, sure, but so far i don't think the breakout is confirmed.
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  • #109,748
  • Sep 2, 2008 8:19am Sep 2, 2008 8:19am
i´m out from long...close my position!

And now, i see nothing so, i´m wait!
''Art is making something out of nothing and selling it'' Frank Zappa
  • #109,749
  • Sep 2, 2008 8:26am Sep 2, 2008 8:26am
The past five months the PMI averaged more than the forecast..

I see a trend for another good PMI...

Aug 1, 2008
50.0
49.4
50.2
Jul 1, 2008
50.2
48.6
49.6
Jun 2, 2008
49.6
48.6
48.6
May 1, 2008
48.6
48.0
48.6
Apr 1, 2008
48.6
47.5
48.3








You be the judge...
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  • #109,750
  • Sep 2, 2008 8:34am Sep 2, 2008 8:34am
My longs are starting to look great here trend lines breaking and opening path...
Attached Image (click to enlarge)
Click to Enlarge Name: gj now.gif Size: 26 KB
Price does what price wants , I just need to be prepared.
  • #109,751
  • Sep 2, 2008 8:35am Sep 2, 2008 8:35am
Oil is down and the DOW jones open with a rally..

197.00 is not far away for my first target....



Quoting PJkiller
My longs are starting to look great here trend lines breaking and opening path...
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  • #109,752
  • Sep 2, 2008 8:35am Sep 2, 2008 8:35am
Quoting PJkiller
My longs are starting to look great here trend lines breaking and opening path...
Really need to break 75 before I get to excited...
Price does what price wants , I just need to be prepared.
  • #109,753
  • Sep 2, 2008 8:40am Sep 2, 2008 8:40am
double doji 4 hr and momentum straight up in the air hmm any one else see something different may be the start of retrace here news in 20 mins....
Price does what price wants , I just need to be prepared.
  • #109,754
  • Sep 2, 2008 8:54am Sep 2, 2008 8:54am
we could also visit the bottom line again of this ascending triangle. Who really knows, ready to go short again if need to just weighing probabilities etc.. I lways remember everytime the whole world finally gets short or long, leaves market an opportunity to reverse. Remember banks have to pay our bill if we take profits lower and lower and lower on shorts. Any who just thinking out loud... Anyone here today???
Attached Image (click to enlarge)
Click to Enlarge Name: gj now.gif Size: 23 KB
Price does what price wants , I just need to be prepared.
  • #109,755
  • Sep 2, 2008 8:56am Sep 2, 2008 8:56am
PMI on average is improving...Last week Chicago PMI was higher than expected because of export..

You be the judge...

Quoting PJkiller
double doji 4 hr and momentum straight up in the air hmm any one else see something different may be the start of retrace here news in 20 mins....
Attached Image (click to enlarge)
Click to Enlarge Name: huorly chart gj 1.gif Size: 43 KB
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  • #109,756
  • Sep 2, 2008 9:05am Sep 2, 2008 9:05am
Here is my 4 hr...
Attached Image (click to enlarge)
Click to Enlarge Name: gj now.gif Size: 17 KB
Price does what price wants , I just need to be prepared.
  • #109,757
  • Sep 2, 2008 9:09am Sep 2, 2008 9:09am
Long Again!!
''Art is making something out of nothing and selling it'' Frank Zappa
  • #109,758
  • Sep 2, 2008 9:22am Sep 2, 2008 9:22am
not conveinced here with this price action removed my longs with some nice profit will wait till later now alerts set heading to the pool for some sun...
Price does what price wants , I just need to be prepared.
  • #109,759
  • Sep 2, 2008 9:25am Sep 2, 2008 9:25am
Retracement to (38.2) 197.96 at least ....

Target from 193.50 to 197.00 range

Possible for 350 to 400 pips

You be the judge
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr chart gj a.gif Size: 45 KB
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  • #109,760
  • Sep 2, 2008 9:35am Sep 2, 2008 9:35am
Buy on the dips for better position...

Still a possible retracement to 38.2% 197.96...

Looks like tonite or tomorrow for this to happen...

You be the judge...
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