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

  • #112,601
  • Sep 11, 2008 8:20pm Sep 11, 2008 8:20pm
Quoting lilmoe
i believe half of the potential profit can be wasted if we wait for more confirmation.

i was hoping for more of a push down on majors, but i think they won't give us the luxury.

i also agree with your source that we might see around 1000 pips reversals on majors.

Not an easy thing on these extended trends, but top/bottom picking is where the money is, by the time confirmation comes you have an awesome lead on the market
"Millionaires don't use astrology, billionaires do"
  • #112,602
  • Sep 11, 2008 8:22pm Sep 11, 2008 8:22pm
Quoting PandoraBox
GJ movement at the moment is due to comments from ECB President Trichet. This had happen last friday before market close due to F/F mac news taking over by government. Any hawkish news will spike GJ up. After market absorbs the news GJ will follow the major trend down ward. And this we can see on monday to thursday...GJ come down again and make new low.
think we are due for more g/j ranging tonight?
  • #112,603
  • Sep 11, 2008 8:23pm Sep 11, 2008 8:23pm
Quoting TraderStar
Luckily I only listen to one person on this thread for direction, as I have noted he is nearly always right. Maybe strike the 'nearly'.

His last comment was bearish, so that's how I stay for now, shorting every rally.
and who would that be?
  • #112,604
  • Sep 11, 2008 8:28pm Sep 11, 2008 8:28pm
Quoting OrionsWay
Not an easy thing on these extended trends, but top/bottom picking is where the money is, by the time confirmation comes you have an awesome lead on the market

absolutely difficult, and i urge newbies not to follow me blindly.

i'm using hedging here, and risking only a very small part of the profit i made on August's shorts.
  • #112,605
  • Sep 11, 2008 8:40pm Sep 11, 2008 8:40pm
Quoting TraderStar
Luckily I only listen to one person on this thread for direction, as I have noted he is nearly always right. Maybe strike the 'nearly'.

His last comment was bearish, so that's how I stay for now, shorting every rally.
good luck with that

I am going long on dips and collecting pips like crazy .... did I mention the 15 min trend is up ? err for the last 7 hours ?
Blogging daily now at www.volume.zone
  • #112,606
  • Sep 11, 2008 8:47pm Sep 11, 2008 8:47pm
Quoting malcolmb14
good luck with that

I am going long on dips and collecting pips like crazy .... did I mention the 15 min trend is up ? err for the last 7 hours ?

nice penant/triangle extention coming up north here also

one really smooth swift 4hr pushin cable should set the stage for some time to come, if it happens or not ???????
"Millionaires don't use astrology, billionaires do"
  • #112,607
  • Sep 11, 2008 8:47pm Sep 11, 2008 8:47pm
Quoting PandoraBox
GJ movement at the moment is due to comments from ECB President Trichet. This had happen last friday before market close due to F/F mac news taking over by government. Any hawkish news will spike GJ up. After market absorbs the news GJ will follow the major trend down ward. And this we can see on monday to thursday...GJ come down again and make new low.

ever wonder why that new it was just a few pips under the previous one ?

oh the games they play .. they (being the money guys) want everyone to remain bearish so they can building their longs in this zone.

is everyone ignoring that bullish divergence on the 4 hour ??? on a double bottom .....

If that 33 sma breaks on 4 hour at 189.12 ... shorts in trouble. I see this as a double bottom till that bullish divergence breaks

I remember it was only Monday that there was mention of margin calls ... massive losses etc etc ... from traders getting married to their shorts at this price level. Just my 2 cents

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  • #112,608
  • Sep 11, 2008 8:47pm Sep 11, 2008 8:47pm
Quoting malcolmb14
good luck with that

I am going long on dips and collecting pips like crazy .... did I mention the 15 min trend is up ? err for the last 7 hours ?
malcolmb14 how many pips do you set your TP for, or do you manually TP?
  • #112,609
  • Sep 11, 2008 8:53pm Sep 11, 2008 8:53pm
If GJ breaks 188.70 then i will long for 191.37, on monthly fibonacci

Before that, i won't bother for long positions.
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  • #112,610
  • Sep 11, 2008 8:53pm Sep 11, 2008 8:53pm
1-2-3 buy formation 15 min as long as 187.55 holds out.

if that 38.2 level breaks 188.70 say hello 189.4 , then 190.54

simple as that

enough said ....lol

I am neither bull nor bear .... just trading what I see on the charts


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  • #112,611
  • Sep 11, 2008 8:54pm Sep 11, 2008 8:54pm
Quoting pipdiddy
malcolmb14 how many pips do you set your TP for, or do you manually TP?

30-50 per trade.....manual
Blogging daily now at www.volume.zone
  • #112,612
  • Sep 11, 2008 8:55pm Sep 11, 2008 8:55pm
Quoting forexlion
If GJ breaks 188.70 then i will long for 191.37, on monthly fibonacci

Before that, i won't bother for long positions.

hey you looking over my shoulder ? lol ..... 1188.7 is my level also for breakout .. but by a different method
Blogging daily now at www.volume.zone
  • #112,613
  • Sep 11, 2008 8:58pm Sep 11, 2008 8:58pm
Quoting malcolmb14
good luck with that

I am going long on dips and collecting pips like crazy .... did I mention the 15 min trend is up ? err for the last 7 hours ?
Shorting every rally collects pips as well, and keeps me in the right direction in case the major downtrend resumes...
  • #112,614
  • Sep 11, 2008 9:06pm Sep 11, 2008 9:06pm
Quoting malcolmb14
good luck with that

I am going long on dips and collecting pips like crazy .... did I mention the 15 min trend is up ? err for the last 7 hours ?
Be very careful my friend, we are still not out of the downward channel.
I just made 40 pips on a short, and I will not go long before we see 1.89.
If it doesn't break out before London open, everything can happen, including a new low tomorrow morning 7:00 AM PST.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #112,615
  • Sep 11, 2008 9:09pm Sep 11, 2008 9:09pm
Asia will be the first to confirm reversals frankfurt will run close in stops and run it more leaving london and us sessions to slay the last leg sucker shorts who entered late
"Millionaires don't use astrology, billionaires do"
  • #112,616
  • Sep 11, 2008 9:16pm Sep 11, 2008 9:16pm
Quoting KillerWhale
Be very careful my friend, we are still not out of the downward channel.
I just made 40 pips on a short, and I will not go long before we see 1.89.
If it doesn't break out before London open, everything can happen, including a new low tomorrow morning 7:00 AM PST.

Orca
it is simple ..... 15 min is over the 33sma red line and this is up then go long on 5 min charts.....it really is that simple

sure you can scalp shorts as well ... but until that 15 min passes back under the 33 sma you are fighting the trend

I do this every day , day in and day out. But thanks for your concern ....

The trend on the 4 hour is down ... I know that ... but in massive down moves there are massive retracements and if you want to day trade off a 5min you should not look much beyond a 30 min chart for short term direction

been going long 188 to 188.5 till it does not work

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  • #112,617
  • Sep 11, 2008 9:19pm Sep 11, 2008 9:19pm
bullish pennant .. .these are typically continuation patterns when they break out and this one will be to upside

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  • #112,618
  • Sep 11, 2008 9:25pm Sep 11, 2008 9:25pm
Quoting vifer
becarfull guys with short positions...
The "pessimism bubble" maybe soon a havely end...
I was thinking that exactly, is a double bottom, what do you think guys, or should we go to 180?
The market can stay irrational, longer than you can stay solvent.
  • #112,619
  • Sep 11, 2008 9:25pm Sep 11, 2008 9:25pm
staying in long this time .. moving stop to +20 ..... smell breakout coming for 189

might be way off base but the trend line on rsi broke and price has yet to follow
Blogging daily now at www.volume.zone
  • #112,620
  • Sep 11, 2008 9:28pm Sep 11, 2008 9:28pm
With all the data coming out tomorrow in the US and the CHOT (good one Malcolm ), I am closing my position.

I want to sleep well tonight ;-)

B
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