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

  • #112,661
  • Sep 12, 2008 12:58am Sep 12, 2008 12:58am
Quoting malcolmb14
The way i see it ....

is that there are still alot of bears in this forum and hopefully they did not chase at 187 , go to 186 and not sell ....


this is a replay of last Friday ... all feds have to hint that they are bailing out Lehman and hello 195
Come on malcolmb buy this thing up bro... volume
Price does what price wants , I just need to be prepared.
  • #112,662
  • Sep 12, 2008 12:58am Sep 12, 2008 12:58am
Quoting malcolmb14
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

closed 5 pips off target ..... off to bed .. hate leaving positions open when sleeping .. that was my last 100 pips for the night....

a slow but profitable session ...

I am not trying to show off .. I am trying to point out to new traders that when you trade with the trend on 15 min etc making money in this game is fairly simple

try to fight a trend on the 15 min / 30 min and day trade short as I have seen some trying to do tonight ...its kind of like walking in traffic with your eyes closed .. 50 % of the time you will be run over ....lol

189 breaks tonight say hello 190 and maybe even 191
Blogging daily now at www.volume.zone
  • #112,663
  • Sep 12, 2008 12:59am Sep 12, 2008 12:59am
Quoting malcolmb14
you guys getting married to shorts ....

this UP trend has been going on for 12 hours....

as I mentioned earlier 187 breakout and short in trouble.....
not saying you are short ... but loads in their are getting married to the shorts .... we could retrace to 192 .. hell even 195 and still be in a bear flag on the daily.

50% fib retrace of move 195 to 186 is 191......that is 500 pips off todays lows
you are right, I am not short, nor am i long. I TP'd my last position last night just before i fell asleep and haven't been able to trade since i'm at work atm. What i will say is that i have small standing short orders at both 191.1 and 194.5 region. Those positions will really make my day if/when they take.
  • #112,664
  • Sep 12, 2008 1:03am Sep 12, 2008 1:03am
I hate to go on and on like a broken record .. but those getting married to their shorts look at 15 min gu and 15 min uj ... err they are both going in UPTRENDS for now .. gj does not stand a hope of going down at the moment

Please manage the risk for youe own sake. There were some traders posting about margin calls and massive losses last week.

It is easy to get all carried away and over leverage your account cause you think the beast is going to 175 ....

but she is not called the beast for nothing .. the retracements can be hundred of pips
Blogging daily now at www.volume.zone
  • #112,665
  • Sep 12, 2008 1:07am Sep 12, 2008 1:07am
Thanks for all your input Malcolm...very helpful to all that will listen!
The Only Constant Is Change!
  • #112,666
  • Sep 12, 2008 1:07am Sep 12, 2008 1:07am
Quoting malcolmb14
2 posts from earlier explaining this .. was told

1) I see bearish pennant .. no bullish pennant
2) watch out trend is down ....

newer traders .... do not get brainwashed about the trend .... even on a 60 min the trend is up now

remember we could have a 1000 pip UP move and still be in a down trend on the daily . Nothing wrong with selling at 186 and if you are not comfortable going long then wait till there is a resumption of the downtrend on the 60 min

right now 14 crossed up thru 33 sma on 60 min ..there is NOTHING bearish about that.. I am looking forward to 190 / 191
when I said that staying in a trend only based on daily and hour candles can be fatal...; because you are not able to notice the dynamics and the trend changes when they occur, and when you get confirmation, it is too late.

this was a major reverse from 251 or from 215 to 185, if we count only the latest run down, and it took a while to complete with some pangs; but it was all choreographed in the fibs, which if wouldn't be be respected, the whole chart would be a plate of spaghetti

it is worthy to study and catch such a move from the bottom for a 1000 pips run, and most important -- not to be caught off-guard; the trend is your friend yes, but it becomes your enemy when you don't notice and refuse to accept the change.
"Everybody needs money. That's why they call it money" - Danny De Vito
  • #112,667
  • Sep 12, 2008 1:08am Sep 12, 2008 1:08am
Quoting slide
when I said that staying in a trend only based on daily and hour candles can be fatal...; because you are not able to notice the dynamics and the trend changes when they occur, and when you get confirmation, it is too late.

this was a major reverse from 251 or from 215 to 185, if we count only the latest run down, and it took a while to complete with some pangs; but it was all choreographed in the fibs, which if wouldn't be be respected, the whole chart would be a plate of spaghetti

it is worthy to study and catch such a move from the bottom for a 1000 pips run, and most important -- not to be caught off-guard; the trend is your friend yes, but it becomes your enemy when you don't notice and refuse to accept the change.



that was very well stated
Blogging daily now at www.volume.zone
  • #112,668
  • Sep 12, 2008 1:12am Sep 12, 2008 1:12am
This move up could simply be a 1hr 100sma retracement, a move which the GJ is VERY fond of.

...and for the record I divorced my shorts around the daily s1...
  • #112,669
  • Sep 12, 2008 1:15am Sep 12, 2008 1:15am
look at this wonderful rounded bottom on 15 min ;.. with a bullish div on the double bottom .... this ties on with another bullish div off last weeks low on rsi on a 4 hour ... at this point my instincts tell me we may see much higher numbers before the week is out ... can it be 100% retrace to 195 ....that would be insane , but in this market who really knows

or we could stop dead on 189 and this could be some form of channel 189 to 186 ....

until that 33 sma on 30min broken I am bullish

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #112,670
  • Sep 12, 2008 1:20am Sep 12, 2008 1:20am
Quoting malcolmb14
I hate to go on and on like a broken record .. but those getting married to their shorts look at 15 min gu and 15 min uj ... err they are both going in UPTRENDS for now .. gj does not stand a hope of going down at the moment

Please manage the risk for youe own sake. There were some traders posting about margin calls and massive losses last week.

It is easy to get all carried away and over leverage your account cause you think the beast is going to 175 ....

but she is not called the beast for nothing .. the retracements can be hundred of pips
Congratulations Malcolm, you where right. The tiny short I have left from 1.8750 is hedged and I am net long like I said before from a little under 1.89.
Fortunately my trades at the moment are very small so no harm is done to my accounts.

Thank you for making me aware of the danger that was lurking around. Now I also can go to sleep with ease of mind. I'm in the same time zone as you are, San Diego PST

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #112,671
  • Sep 12, 2008 1:25am Sep 12, 2008 1:25am
Quoting KillerWhale
Congratulations Malcolm, you where right. The tiny short I have left from 1.8750 is hedged and I am net long like I said before from a little under 1.89.
Fortunately my trades at the moment are very small so no harm is done to my accounts.

Thank you for making me aware of the danger that was lurking around. Now I also can go to sleep with ease of mind. I'm in the same time zone as you are, San Diego PST

Orca

glad i could be of help

just trading what I see on the charts ... simple as that ... no fancy stuff .... lol
Blogging daily now at www.volume.zone
  • #112,672
  • Sep 12, 2008 1:26am Sep 12, 2008 1:26am
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.

I hope you are ok ..... and not trying to day trade this thing by shorting every rally
Blogging daily now at www.volume.zone
  • #112,673
  • Sep 12, 2008 1:33am Sep 12, 2008 1:33am
mornin ppl

so are we finally heading to 200?..oh baby... feels like i've been waiting for this retrace forever. The last 2 weeks i've sat on the sidelines and it's a good thing too the volatility s just crazy.

Anywaz looking to enter my short @ the 200 area..
  • #112,674
  • Sep 12, 2008 1:36am Sep 12, 2008 1:36am
ok so I got back in on break out 189 ...lol . .this is like a drug ...


5 min rsi looking very overbought so moving stop up with trade to 190 target
Blogging daily now at www.volume.zone
  • #112,675
  • Sep 12, 2008 1:37am Sep 12, 2008 1:37am
How about GJ now?
  • #112,676
  • Sep 12, 2008 1:39am Sep 12, 2008 1:39am
Quoting msxy68
How about GJ now?

up for now .. but this last thrust to fast ... I am following stop up and taking profit 190

I expect retrace any time soon ....
Blogging daily now at www.volume.zone
  • #112,677
  • Sep 12, 2008 1:42am Sep 12, 2008 1:42am
Quoting malcolmb14
up for now .. but this last thrust to fast ... I am following stop up and taking profit 190

I expect retrace any time soon ....

not greedy and out at 189.85

a little before target ... but that is ok .... 79 pips last trade
Blogging daily now at www.volume.zone
  • #112,678
  • Sep 12, 2008 1:45am Sep 12, 2008 1:45am
Quoting malcolmb14
not greedy and out at 189.85

a little before target ... but that is ok .... 79 pips last trade
im not doubting you, but y are you expecting a retrace and by how much? it broke the 38% fib, so next stop should be 50% no?
  • #112,679
  • Sep 12, 2008 1:46am Sep 12, 2008 1:46am
out at 189.81,$104.09 profit,not bad
  • #112,680
  • Sep 12, 2008 1:50am Sep 12, 2008 1:50am
Quoting fc3s
im not doubting you, but y are you expecting a retrace and by how much? it broke the 38% fib, so next stop should be 50% no?
I have been going long all night on dips ...

the rsi is way to overbought on 5 min, 10 min and 15 min charts .. makes me nervous

I wait for rsi on 5 min to come back under 60 then hook back up above 60 then would go long again .That way I do not need to guess the retracement

now on a big move like this on I would take a short if I was still in going to trade as the rsi on multiple time frames is very overbought.. but i am to bed ....

yes we have broken the 38.2 .. but on a 10 min chart it is a fake break out

the pair should retrace .. enticing buyers in at lower price ... if there is another drive it will be the major breakout of 38 % fib retrace to the 50%
Blogging daily now at www.volume.zone
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