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

  • #114,981
  • Sep 17, 2008 2:55pm Sep 17, 2008 2:55pm
Quoting rgitt05
I scalp long to build my margin to buy more position short position on rallys for later freefall..

It's a bit risky but it works for me..

Thanks .. that is what I am doing as well, not as successfully as you, I still make mistakes, but that is what I am trying to learn with practice
  • #114,982
  • Sep 17, 2008 3:02pm Sep 17, 2008 3:02pm
This sudden rise was due to thin volume in the market. I would expect retrace during Japanese session and then rise again during early European session. It most likely going to give all the gains back during Asian session.
  • #114,983
  • Sep 17, 2008 3:04pm Sep 17, 2008 3:04pm
The last uptrend move just doesn make sense. Gold up a lot (heavy risk aversion) this pair should be gone to abyss .. LOL
  • #114,984
  • Sep 17, 2008 3:05pm Sep 17, 2008 3:05pm
Quoting bmvmx
Listen all, this is a critical technicall level, since 191.70 is the upper part of the bearish trend channel.

If we brake this channel (by a flag formation) down trend is over!

what are the posibilities of a huge down reversal??


then cable will have to breach mid 1.82 in order to help push it up.. i am open to this probability

take care
  • #114,985
  • Sep 17, 2008 3:08pm Sep 17, 2008 3:08pm
Quoting mktjong
The last uptrend move just doesn make sense. Gold up a lot (heavy risk aversion) this pair should be gone to abyss .. LOL

maybe this is to lure the bulls in .... they just want to get it a higher price.

I am short and holding....

I am praying feds do not do emergency rate cut after market ...lol

this look like mini bear flag 5 min

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB
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  • #114,986
  • Sep 17, 2008 3:11pm Sep 17, 2008 3:11pm
if it smell like a bull...looks like a bull...sh*ts like a bull...
oh baby.....

this is just a correction...all bear markets have violent bull runs..baby
  • #114,987
  • Sep 17, 2008 3:14pm Sep 17, 2008 3:14pm
Quoting malcolmb14
maybe this is to lure the bulls in .... they just want to get it a higher price.

I am short and holding....

I am praying feds do not do emergency rate cut after market ...lol

this look like mini bear flag 5 min

Attachment
I am starting to wonder, this pair is something that can be manipulated by one or more big sharks. The say that currencies can't be manipulated is just not true.
  • #114,988
  • Sep 17, 2008 3:14pm Sep 17, 2008 3:14pm
It takes practices... This market bias is negative.. That is my view so far..I feel the end of the week the market will digest this information to setup for a freefall to my monthly chart target..

Remember to lock in pips..
A win can be 1 pip or 100 pip...

Keep it green...





Quoting TraderStar
Thanks .. that is what I am doing as well, not as successfully as you, I still make mistakes, but that is what I am trying to learn with practice
[
  • #114,989
  • Sep 17, 2008 3:15pm Sep 17, 2008 3:15pm
Quoting vinesh2
This sudden rise was due to thin volume in the market. I would expect retrace during Japanese session and then rise again during early European session. It most likely going to give all the gains back during Asian session.


the trend is till down, retail sales in th uk is very bad.Asian make would look very good. if we pass the 189.29 point, we might see a 187.47 then an up trend, then down to infinity and below...but lets just watch what will happens. the litmus test might be the asian network open
  • #114,990
  • Sep 17, 2008 3:15pm Sep 17, 2008 3:15pm
Question: would you rather go with the HEad & SHoulders on the 60M TF, or the descending trendline on the 4H TF?

  • #114,991
  • Sep 17, 2008 3:15pm Sep 17, 2008 3:15pm
Awesome moves today made over 200 pips in the up and down move. Guys, in this kind of market dont think longer term trades. Think intraday only. Spikes like that happen today are very common happens once or twice a month and happens when there is thin volume when a lot of traders are scared to take positions. I have stopped trading GJ for two months this pair can make you or break its best to trade other pairs right now. Trade GJ when the Carry comes back you put your trade and forget about it for a month or so you will earn interest and everyone like a Carry pair so it would make regular upward spikes. I have improved my trading a lot over the past year but a long long way to go. If you are new at trading I would suggest demo trading in these very volaite period not a good idea to trade right now. From what I have read i would think that trading will return to normal some time next year 2nd or 3rd quater. Demo Demo. Its been almost a month that I have consistently made money and my strategy is working but dont get into a stuborn trade thinking it will come back ofcourse it will come back but how long are you willing to wait and do you have the margin to sustain a drawdown? Think smart and trade see what you see in the chart but pay attention to fundementals. Also, understand the intentions of big player they are they one's moving the market not you not me.
  • #114,992
  • Sep 17, 2008 3:18pm Sep 17, 2008 3:18pm
Malcolmb, its quiet possible what you said about FED. Emergency cut is a big possibilty. Banks have stopped lending to each other and if they don't reduce the discount rate soon then we are going to have major problems
  • #114,993
  • Sep 17, 2008 3:18pm Sep 17, 2008 3:18pm
Quoting seesaw
Question: would you rather go with the HEad & SHoulders on the 60M TF, or the descending trendline on the 4H TF?

I'll give my answer in 48 hours...
"Timing Is Everything. Really I Swear It Is"
  • #114,994
  • Sep 17, 2008 3:18pm Sep 17, 2008 3:18pm
take a nose dive.. It's was a nice retracement and I managed to hedge to 191.50 I stated early.. Now, I am waiting for the nose dive....



Quoting malcolmb14
maybe this is to lure the bulls in .... they just want to get it a higher price.

I am short and holding....

I am praying feds do not do emergency rate cut after market ...lol

this look like mini bear flag 5 min

Attachment
[
  • #114,995
  • Sep 17, 2008 3:19pm Sep 17, 2008 3:19pm
Quoting seesaw
Question: would you rather go with the HEad & SHoulders on the 60M TF, or the descending trendline on the 4H TF?

it depends on which tf is in charge..if you think 4hr ..then go with that baby...

by the way i don't see a decending traingle on 4hr?....i do see a bull continuation pattern...
  • #114,996
  • Sep 17, 2008 3:22pm Sep 17, 2008 3:22pm
Quoting Big Bruv
it depends on which tf is in charge..if you think 4hr ..then go with that baby...

by the way i don't see a decending traingle on 4hr?....i do see a bull continuation pattern...
I meant this chart (attached) on 4H. Trendline, not triangle
Attached File(s)
File Type: pdf 4H trendline.pdf   71 KB | 488 downloads
  • #114,997
  • Sep 17, 2008 3:28pm Sep 17, 2008 3:28pm
If this bullish divergence breaks the bottom of the channel ... bulls get to get killed .. .think 180

I am trading one day at a time .. but something to keep an eye on .. 4 hour chart

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 19 KB
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  • #114,998
  • Sep 17, 2008 3:29pm Sep 17, 2008 3:29pm
Quoting seesaw
Question: would you rather go with the HEad & SHoulders on the 60M TF, or the descending trendline on the 4H TF?

Seriously though..

With fundamentals so bearish I'll take that trump card every time....
I've seen lots of pin bars and other price patterns get blown away in this volatile market...I'm short biggie!
"Timing Is Everything. Really I Swear It Is"
  • #114,999
  • Sep 17, 2008 3:30pm Sep 17, 2008 3:30pm
Adding to my longs 188.85
"Millionaires don't use astrology, billionaires do"
  • #115,000
  • Sep 17, 2008 3:31pm Sep 17, 2008 3:31pm
Quoting malcolmb14
maybe this is to lure the bulls in .... they just want to get it a higher price.

I am short and holding....

I am praying feds do not do emergency rate cut after market ...lol

this look like mini bear flag 5 min

Attachment
anyone trade this ??

90 pips 15 minutes.

This is how to trade a downtrend rather than chasing it .. wait for the flag to form .. then trade the breakdown of the flag
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