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

  • #110,621
  • Sep 4, 2008 8:28pm Sep 4, 2008 8:28pm
Quoting mktjong
It has retraced 50% of today's fall (Starting EDT 5:00 PM). Now time to have party again ..(??)
Maybe not yet .. 4H 5 sma is just like a magnet .. LOL
  • #110,622
  • Sep 4, 2008 8:31pm Sep 4, 2008 8:31pm
the is going to be a fast move up for most yen pairs, , ej doesnt like 152, will short at 169 again, good night all, just my opinion
  • #110,623
  • Sep 4, 2008 8:33pm Sep 4, 2008 8:33pm
Quoting DutchTrader
Just chilling with my Bermudas on and selling every retrace. Started school this week. How about you bro?
DutchTrader....would you by any chance be DT from the old learncurrencytrading.com boards?
--post hoc ergo propter hoc--
  • #110,624
  • Sep 4, 2008 8:35pm Sep 4, 2008 8:35pm
Quoting Monk
DutchTrader....would you by any chance be DT from the old learncurrencytrading.com boards?
No, I haven't heard of that site, but I'm always open to learning.
Patience + Humility + Study = Success
  • #110,625
  • Sep 4, 2008 8:36pm Sep 4, 2008 8:36pm
sign.....all those "paper" profits going away......i should have exited my short 200 pips ago.
--post hoc ergo propter hoc--
  • #110,626
  • Sep 4, 2008 8:39pm Sep 4, 2008 8:39pm
almost a complete retrace.

WTF ???
  • #110,627
  • Sep 4, 2008 8:42pm Sep 4, 2008 8:42pm
Insanity, complete insanity
  • #110,628
  • Sep 4, 2008 8:43pm Sep 4, 2008 8:43pm
Quoting Rustyyy
almost a complete retrace.

WTF ???
how can you be surprised? The move from 189.30 down to 186.80 was a 10 minute egg fart, on top of a TL break that was already over 200 pips.
  • #110,629
  • Sep 4, 2008 8:45pm Sep 4, 2008 8:45pm
i told you guys earlier this whole down move was to induce lower level sellers and testing of longs. I also mentioned that there will be a recovery during the Asian session. EU and GU are going to recover from here and maybe this will bring up GJ but GJ is tied to UJ so not sure about GJ but GU and EU and AU are going back up from here. There is going to be a reversal by end of the day tomorrow. Big guys are going to whip out everyone best thing to do here is be patient.
  • #110,630
  • Sep 4, 2008 8:49pm Sep 4, 2008 8:49pm
Hope you sold that rally!
The Only Constant Is Change!
  • #110,631
  • Sep 4, 2008 8:52pm Sep 4, 2008 8:52pm
Quoting Eulogy
how can you be surprised? The move from 189.30 down to 186.80 was a 10 minute egg fart, on top of a TL break that was already over 200 pips.
Well, retrace expected but not the whole damn thing.
Doesnt matter shorted the hell out of it at 188.80.
Looking good so far.....
  • #110,632
  • Sep 4, 2008 8:53pm Sep 4, 2008 8:53pm
Quoting JazzmanQ2
Hope you sold that rally!
Today's move just whipsawed every body .. ;(
Funny thing, I got most of my pips from long trades this whole afternoon.
  • #110,633
  • Sep 4, 2008 9:05pm Sep 4, 2008 9:05pm
Quoting JazzmanQ2
Hope you sold that rally!
how am i supposed catch a rally that took 10 minutes to go up and 10 minutes to go down. it could go lower, but i'm bias long , and i see it close to bottom of weekly channel and see it reaching 210 before it goes lower..
  • #110,634
  • Sep 4, 2008 9:08pm Sep 4, 2008 9:08pm
Quoting Clouds
how am i supposed catch a rally that took 10 minutes to go up and 10 minutes to go down. i'm bias long , and i see it as bottom of weekly channel and see it reaching 210 before it goes lower..
Wow
  • #110,635
  • Sep 4, 2008 9:17pm Sep 4, 2008 9:17pm
Quoting Donadoney
Wow
here what i mean..
Attached Image
  • #110,636
  • Sep 4, 2008 9:17pm Sep 4, 2008 9:17pm
Quote
Originally Posted by Clouds
how am i supposed catch a rally that took 10 minutes to go up and 10 minutes to go down. i'm bias long , and i see it as bottom of weekly channel and see it reaching 210 before it goes lower..

Quoting Donadoney
Wow
Double Wow
  • #110,637
  • Sep 4, 2008 9:25pm Sep 4, 2008 9:25pm
Quoting TraderStar
Double Wow
well. i could be wrong, but when i look at EJ, i dont see a triple top, i see a double bottom. Same with AJ. And if i think that, then GJ should also rally. Just my 1 cent.
  • #110,638
  • Sep 4, 2008 9:28pm Sep 4, 2008 9:28pm
Quoting silenroc
Ok I have the 10 min up on this and it is very tight between the 13 and 33 sma. What should i do now or wait for.
Thanks for your help
err sorry was busy with gj , just came back to look at forum

when price is above the 13 sma and approaching the 33 sma there are 2 things you can do

1) if there is a 30 - 50 pip spread ( enough to make a few pips and pay spread , go long above the 13 sma and chase price to the 33 sma , using the 33 sma as a scalping target

2) , if as in Ej was earlier the moving averages are close then wait for break out 33 sma

the chart below it is a 5m in

the price moved UP from the bottom with the rsi confirming the short term up trend , crossed the 13 sma at just under 151,50 ( I like .5s for getting into scalps ie 155, 155,5 , 156 etc etc )
there was 50 pips between the 13 and the 33 , so there is enough room to make a few pips , go long as price crossed the 13 sma , waiting to make sure the next candle goes 2 pips higher than the candle that went thru the moving average , stop under the 13 sma (20 pips risk) with upside target the 33 sma. This trade would have been 1:2.5 risk reward ratio

this would have been a nice 50 pip scalp in a pair that has move drastically down today ... very safe trade in my mind and well planed.

Once it got to the 33 sma at #2 you can move stop up very tight as this is the area that a reversal was expected. Instead price broke through the whole number 152 and went sideways for a while before moving up to 153.

Now with the stop moved up nice and tight (+30 pips profit locked in) you can let the trade ride

Attached Image (click to enlarge)
Click to Enlarge Name: ej.jpg Size: 174 KB
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  • #110,639
  • Sep 4, 2008 9:29pm Sep 4, 2008 9:29pm
Quoting Money-RX
Evening all.
I don't know about anyone else but after these huge profits the biggest challenge is not the bull or the bear, the biggest challenge is greed.

But then again I only need 1 more day of high leverage shorting and Hello new Pioneer big screen in the theater room.....

geez every making 500 k , lambos etc etc .... and all you are getting is new TV ....lol
Blogging daily now at www.volume.zone
  • #110,640
  • Sep 4, 2008 9:32pm Sep 4, 2008 9:32pm
Quoting mktjong
Today's move just whipsawed every body .. ;(
Funny thing, I got most of my pips from long trades this whole afternoon.

funny .. me to

and i was being told to sell the rallies .....

Blogging daily now at www.volume.zone
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