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

  • #111,281
  • Sep 7, 2008 8:47pm Sep 7, 2008 8:47pm
You have to take into consideration that now we have a gap on both sides of price. It'll be interesting to see which one gets filled first but my take is that the down leg is yet to be complete.

Poole just came out today saying that the taxpayer could be facing up to a $300 billion invoice for the GSEs bailout . This is after Paulson is assuring that they won't lose out on any more than $25 billion when he initiated the plan. $300 billion, the new president(s) can say goodbye to his tax cut plans for the next 10 years if that comes to pass
  • #111,282
  • Sep 7, 2008 8:52pm Sep 7, 2008 8:52pm
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  • #111,283
  • Sep 7, 2008 8:58pm Sep 7, 2008 8:58pm
Quoting PipChick
Well guys....I have been reading all of these posts for the last hour or so. I must say there have been great losses and great gains today. I feel badly for those who have lost their accts as I have been in their shoes before.I am happy for those who have gained in their accts.I must say that this mkt is very unpredictable right now and VERY risky. It is a shame that noobs are following calls blindly from well respected members on this board and possibly have lost every penny due to the UNPREDICTABLE AND VOLATILE mkt. But what I feel extremely bad about is those who are making fun of those who lost money. I see challenges being made to go one on one with others, I see inflated ego's and I see bragging, all of which constitute failure. If you want to keep your money in your pocket guys, remain humble. Trade, help others, educate and remain humble. Be REAL leaders.
i hope u weren't talking about me

i made clear what were my intentions of that long and i think i provided good reasoning for that. and just like malcomb said, we DID emphasize on the necessity of good MM especially in this volatile market.

we also did mention and urged everyone not to follow blindly. i also emphasized that i was trading swings and not scalps. so catching a swing from it's top/bottom should've been a good entry, not those who entered long/short after hearing "where" our trade targets were and joined at the middle.

i do agree with what u said, but i don't consider any trader on this thread (regardless of who they are) responsible for others losing their accounts. they shouldn't be trading from the first place if they don't know the very basics.

i also do agree that people shouldnt be making fun of others' trades or calls. but that doesn't mean that some weren't just joking, and being a good sport is also part of the game, and i know u ARE a good player

thanks for the advice!
  • #111,284
  • Sep 7, 2008 9:06pm Sep 7, 2008 9:06pm
Quoting lilmoe
i hope u weren't talking about me

i made clear what were my intentions of that long and i think i provided good reasoning for that. and just like malcomb said, we DID emphasize on the necessity of good MM especially in this volatile market.

we also did mention and urged everyone not to follow blindly. i also emphasized that i was trading swings and not scalps. so catching a swing from it's top/bottom should've been a good entry, not those who entered long/short after hearing "where" our trade targets were and joined at the middle.

i do agree with what u said, but i don't consider any trader on this thread (regardless of who they are) responsible for others losing their accounts. they shouldn't be trading from the first place if they don't know the very basics.

i also do agree that people shouldnt be making fun of others' trades or calls. but that doesn't mean that some weren't just joking, and being a good sport is also part of the game, and i know u ARE a good player

thanks for the advice!

well said

I aim to try to help along the way

I gave the open range breakout method for today , even posted the Tokyo high and low ...193.67

anyone trading the breakout had 15 pips draw down and now 57 pips in the jeans

It is not ego that I am telling you this ... it is just to show that these methods work ,,,,, very simple yet effective methods... no fancy indicators required
Blogging daily now at www.volume.zone
  • #111,285
  • Sep 7, 2008 9:09pm Sep 7, 2008 9:09pm
Quoting malcolmb14
well said

I aim to try to help along the way

I gave the open range breakout method for today , even posted the Tokyo high and low ...193.67

anyone trading the breakout had 15 pips draw down and now 57 pips in the jeans

It is not ego that I am telling you this ... it is just to show that these methods work ,,,,, very simple yet effective methods... no fancy indicators required

the goal on the open rnage breakout is to make 30 - 50 pips per session = 120 to 150 per day ,,,,,,

one can do this day in day out with patience

tonights open range can be set using London , not Frankfurt open
Blogging daily now at www.volume.zone
  • #111,286
  • Sep 7, 2008 9:10pm Sep 7, 2008 9:10pm
for anyone in OR breakout 194..45 next target then 194.72

watch for any reversals off these levels ...
Blogging daily now at www.volume.zone
  • #111,287
  • Sep 7, 2008 9:12pm Sep 7, 2008 9:12pm
If you got break out 193.67 then move stop up to at least +25 now

protect a little profit
Blogging daily now at www.volume.zone
  • #111,288
  • Sep 7, 2008 9:14pm Sep 7, 2008 9:14pm
Quoting malcolmb14
If you got break out 193.67 then move stop up to at least +25 now

protect a little profit
I am closing my OR breakout if price breaks 194.15
Blogging daily now at www.volume.zone
  • #111,289
  • Sep 7, 2008 9:17pm Sep 7, 2008 9:17pm
Quoting malcolmb14
I am closing my OR breakout if price breaks 194.15
closed OR breakout 194.35
Blogging daily now at www.volume.zone
  • #111,290
  • Sep 7, 2008 9:17pm Sep 7, 2008 9:17pm
Who lost their account? Seriously I didn't even read that post. Too damn long and I dont' really care to get into a "he posted, she posted" type thing. If you're a grown man/woman and your'e following calls on a farkin message board you deserve to have nothing good come of that. Might as well call Miss Cleo.
Patience + Humility + Study = Success
  • #111,291
  • Sep 7, 2008 9:18pm Sep 7, 2008 9:18pm
Quoting malcolmb14
closed OR breakout 194.35

that up move was driven by gu ..... it is topping on 5 min

took profit off table of 68 pips

price may still go higher but the target for the open range breakouts is 30 -50 and 68 pips is above the higher range.
Blogging daily now at www.volume.zone
  • #111,292
  • Sep 7, 2008 9:20pm Sep 7, 2008 9:20pm
i think the picture is becoming much clearer than before.
posting a possible scenario. hope it plays out.
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  • #111,293
  • Sep 7, 2008 9:21pm Sep 7, 2008 9:21pm
Quoting DutchTrader
Who lost their account? Seriously I didn't even read that post. Too damn long and I dont' really care to get into a "he posted, she posted" type thing. If you're a grown man/woman and your'e following calls on a farkin message board you deserve to have nothing good come of that. Might as well call Miss Cleo.
one was on margin call and another was asking if there was anything they could do as they were seriously bleeding ...

I feel for them as I have been there and done that ....
Blogging daily now at www.volume.zone
  • #111,294
  • Sep 7, 2008 9:24pm Sep 7, 2008 9:24pm
Quoting pkimnyc
i think the picture is becoming much clearer than before.
posting a possible scenario. hope it plays out.
ok do yourself a favour take weekly charts ... draw simple fib retrace form 215 to bottom

23 % is 193 .. until we break that we are going up to 38.2 at 197.30.... it is that simple with fibs

Yes there is a gap to fill but there is more chance to hit 38% fib right now than fill the gap .

The gap to the upside would then be filled and MAYBE ( depending on price action) we get a drop to close the gap today

Until we break that 23 % fib on weekly i am looking for long opportunities only .
Blogging daily now at www.volume.zone
  • #111,295
  • Sep 7, 2008 9:27pm Sep 7, 2008 9:27pm
forgot about my old buddy gbpaud today

very nice 175 pips waves this evening ....spread same as gj
Blogging daily now at www.volume.zone
  • #111,296
  • Sep 7, 2008 9:30pm Sep 7, 2008 9:30pm
Quoting malcolmb14
that up move was driven by gu ..... it is topping on 5 min

took profit off table of 68 pips

price may still go higher but the target for the open range breakouts is 30 -50 and 68 pips is above the higher range.
closed this one to early .... testing 194.40 and looking to break to 194.72
Blogging daily now at www.volume.zone
  • #111,297
  • Sep 7, 2008 9:30pm Sep 7, 2008 9:30pm
Quoting malcolmb14
one was on margin call and another was asking if there was anything they could do as they were seriously bleeding ...

I feel for them as I have been there and done that ....
You're going to laugh, but i really only read posts from people I "know", like you, Moe, karmo, etc. Everything else is white noise but yeah I do feel for people that lose money I've been there but to blame anyone here for that is silly.
Patience + Humility + Study = Success
  • #111,298
  • Sep 7, 2008 9:33pm Sep 7, 2008 9:33pm
Quoting lilmoe
195 is 88.6 of the last chart i posted, and 195.80 is daily s3. it's been common the past month for daily s3 to give way.

don't forget guys, we bounced back so far from the 192 support, 192 is tough, anything between 197.5 and 192 is nothing (at least no significant S/R level in that area). so i would vouch for more up.

edit: daily 5sma is at 191.90. and daily momentum is SHARPLY pointing UP.
Can you post a chart of this?
--post hoc ergo propter hoc--
  • #111,299
  • Sep 7, 2008 9:34pm Sep 7, 2008 9:34pm
Quoting malcolmb14
ok do yourself a favour take weekly charts ... draw simple fib retrace form 215 to bottom

23 % is 193 .. until we break that we are going up to 38.2 at 197.30.... it is that simple with fibs

Yes there is a gap to fill but there is more chance to hit 38% fib right now than fill the gap .

The gap to the upside would then be filled and MAYBE ( depending on price action) we get a drop to close the gap today

Until we break that 23 % fib on weekly i am looking for long opportunities only .
? that's what i'm projecting also. 197.50 area. marked as wave iv and 186.15 as the end of wave iii.
  • #111,300
  • Sep 7, 2008 9:46pm Sep 7, 2008 9:46pm
Quoting malcolmb14
well said

I aim to try to help along the way

I gave the open range breakout method for today , even posted the Tokyo high and low ...193.67

anyone trading the breakout had 15 pips draw down and now 57 pips in the jeans

It is not ego that I am telling you this ... it is just to show that these methods work ,,,,, very simple yet effective methods... no fancy indicators required
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