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

  • #115,001
  • Sep 17, 2008 3:32pm Sep 17, 2008 3:32pm
If you think its going that far down, why would you Add longs? Why not close your current for profit, then take new positions there?

Quoting OrionsWay
Adding to my longs 188.85
Que
  • #115,002
  • Sep 17, 2008 3:32pm Sep 17, 2008 3:32pm
From Bloomberg: Washington Mutual puts itself for auction.
  • #115,003
  • Sep 17, 2008 3:33pm Sep 17, 2008 3:33pm
Yes, but I waited for it to break first. So 45 ish pips.

Quoting malcolmb14
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
Que
  • #115,004
  • Sep 17, 2008 3:33pm Sep 17, 2008 3:33pm
the TL's being talked about....
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"Timing Is Everything. Really I Swear It Is"
  • #115,005
  • Sep 17, 2008 3:35pm Sep 17, 2008 3:35pm
Quoting Que
If you think its going that far down, why would you Add longs? Why not close your current for profit, then take new positions there?

good point, because i have a base set at the LO and dont want to give that positioning up , if this turns into a position trade which i hope, i can manipulate daily without ever releasing a good spot in the dirt. Basically could become prime real estate or a shack real quick LOL
"Millionaires don't use astrology, billionaires do"
  • #115,006
  • Sep 17, 2008 3:36pm Sep 17, 2008 3:36pm
Que did u get my PM yesterday?
"Millionaires don't use astrology, billionaires do"
  • #115,007
  • Sep 17, 2008 3:36pm Sep 17, 2008 3:36pm
say 2-3 hours and in it we would likely see a 60pip up and down movement
  • #115,008
  • Sep 17, 2008 3:37pm Sep 17, 2008 3:37pm
Excelent point. Thanks for that.

Quoting OrionsWay
good point, because i have a base set at the LO and dont want to give that positioning up , if this turns into a position trade which i hope, i can manipulate daily without ever releasing a good spot in the dirt.
Que
  • #115,009
  • Sep 17, 2008 3:37pm Sep 17, 2008 3:37pm
I am listening to Bloomberg radio. NY Times reporting Morgan Stanley considering merger with Wachovia. More to come guys this is the eye of the storm.
  • #115,010
  • Sep 17, 2008 3:37pm Sep 17, 2008 3:37pm
I ave 5 and just not read them yet. I will look now.

Quoting OrionsWay
Que did u get my PM yesterday?
Que
  • #115,011
  • Sep 17, 2008 3:38pm Sep 17, 2008 3:38pm
Quoting rgitt05
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...

Thanks. Each time I get a bit better, I will appreciate your input. We agree that overall bias is down for now, so short rallies and build equity by scalping longs, no matter how small. I could have/should have been bolder in that last move up .. but each time it happens, I go back over the chart, see what I *could* have done .. and learn. It is much better than a couple of months ago!
  • #115,012
  • Sep 17, 2008 3:41pm Sep 17, 2008 3:41pm
Quoting TexasforEX
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!

I hear you buddy but I was NOT expecting that jump in cable! Scared the shi@#$#$ out of me.
  • #115,013
  • Sep 17, 2008 3:41pm Sep 17, 2008 3:41pm
Moced my Stop to BE and my TP to 189.68. This is about 15 pips above the EMA 365 on the M30.

Quoting malcolmb14
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
Que
  • #115,014
  • Sep 17, 2008 3:43pm Sep 17, 2008 3:43pm
sure would be nice if this gsdklgj'sdkfgj[a cable was a 123 and not a penant SOB
"Millionaires don't use astrology, billionaires do"
  • #115,015
  • Sep 17, 2008 3:44pm Sep 17, 2008 3:44pm
GJ is ridding the Daily R1
Que
  • #115,016
  • Sep 17, 2008 3:45pm Sep 17, 2008 3:45pm
crazy baby

still alive shorting this big up move and now taking profit....

mad market !!!!!!!!!!!!!!!!!!!!!
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #115,017
  • Sep 17, 2008 3:48pm Sep 17, 2008 3:48pm
Quoting mktjong
Moved Sl to @191.70 (5 pips guarantee )
Closed @190.23 for 152 pips .. don't want to pay the swap ..
  • #115,018
  • Sep 17, 2008 3:51pm Sep 17, 2008 3:51pm
Quoting malcolmb14
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
is that still a valid flag formation??
The market can stay irrational, longer than you can stay solvent.
  • #115,019
  • Sep 17, 2008 3:51pm Sep 17, 2008 3:51pm
I think Swap traders are the only thing keeping it afloat atm. I suspect that when swap is paid it will continue down.

Quoting mktjong
Closed @190.23 for 152 pips .. don't want to pay the swap ..
Que
  • #115,020
  • Sep 17, 2008 3:53pm Sep 17, 2008 3:53pm
Quoting bmvmx
is that still a valid flag formation??
of course ... flags are just uptrends in a downtrend , they can occur even on a 1 min chart

I have heard some stuff about flags having to go to 50 % fib etc etc ... but a flag is a flag to me ... keep it simple
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