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

  • #116,721
  • Sep 23, 2008 12:03pm Sep 23, 2008 12:03pm
Quoting malcolmb14
scored a few off 196.30

only as YM dropped through OR low. .... thought gj might follow. ... no such luck .. she is being stubborn today
Agree, it's stubborn
I haven't touched this Geppy yet today, long UJ and short GU earlier but both also already closed with a few pips only. Staying aside might as well as a winner too.
  • #116,722
  • Sep 23, 2008 12:04pm Sep 23, 2008 12:04pm
Quoting malcolmb14
there iu a t30 ( 30 pip line off daily pivot ) at 196.40 ... rsi bear div .... short off that level for 30 pip a time is ok if you know what you are doing and are quick

45 pips on last one .. waiting for reload

YM tanking ..... +80 points on an open range breakdown on that ....
Blogging daily now at www.volume.zone
  • #116,723
  • Sep 23, 2008 12:08pm Sep 23, 2008 12:08pm
Quoting malcolmb14
45 pips on last one .. waiting for reload

YM tanking ..... +80 points on an open range breakdown on that ....

heading to 195.40 and lower right now
Blogging daily now at www.volume.zone
  • #116,724
  • Sep 23, 2008 12:09pm Sep 23, 2008 12:09pm
Quoting mktjong
Agree, it's stubborn
I haven't touched this Geppy yet today, long UJ and short GU earlier but both also already closed with a few pips only. Staying aside might as well as a winner too.
I hate that after closing short GU, it's started to tank hard ..just got a few pips only :-)
  • #116,725
  • Sep 23, 2008 12:09pm Sep 23, 2008 12:09pm
Quoting malcolmb14
heading to 195.40 and lower right now

if 195.70 gives way 195.4 and then 194.80 area down side targets for me
Blogging daily now at www.volume.zone
  • #116,726
  • Sep 23, 2008 12:11pm Sep 23, 2008 12:11pm
Quoting mktjong
I hate that after closing short GU, it's started to tank hard ..just got a few pips only :-)

felt like that in oil yesterday closed for $4.75 up ( 475 pips) and then it kept going and going and going lol


remember a trader never went broke taking a profit and another trade is just around the corner
Blogging daily now at www.volume.zone
  • #116,727
  • Sep 23, 2008 12:11pm Sep 23, 2008 12:11pm
Anyone have a good tp for GU short from 8520? I was thinking the 50ma on hourly at 8463.
  • #116,728
  • Sep 23, 2008 12:13pm Sep 23, 2008 12:13pm
Quoting malcolmb14
remember a trader never went broke taking a profit and another trade is just around the corner
Thats for sure .. a lesson I need to keep practicing!
  • #116,729
  • Sep 23, 2008 12:14pm Sep 23, 2008 12:14pm
Quoting TraderStar
Anyone have a good tp for GU short from 8520? I was thinking the 50ma on hourly at 8463.

my daily pivot 8491 ... if we hook back above that expect 30 pips up side movement
Blogging daily now at www.volume.zone
  • #116,730
  • Sep 23, 2008 12:17pm Sep 23, 2008 12:17pm
Quoting malcolmb14
felt like that in oil yesterday closed for $4.75 up ( 475 pips) and then it kept going and going and going lol


remember a trader never went broke taking a profit and another trade is just around the corner
Yup .. thanks.
Be back after lunch ..
  • #116,731
  • Sep 23, 2008 12:22pm Sep 23, 2008 12:22pm
Quoting TraderStar
Anyone have a good tp for GU short from 8520? I was thinking the 50ma on hourly at 8463.

8462 / 8432 are your T30 lines (30 pips form daily pivot) ... price will stop at one or the other
Blogging daily now at www.volume.zone
  • #116,732
  • Sep 23, 2008 12:24pm Sep 23, 2008 12:24pm
Quoting malcolmb14
8462 / 8432 are your T30 lines (30 pips form daily pivot) ... price will stop at one or the other

only if 8495 holds ..... that is daily pivot ..... and the same level we got an 70 pip move off earlier in the session
Blogging daily now at www.volume.zone
  • #116,733
  • Sep 23, 2008 12:33pm Sep 23, 2008 12:33pm
Quoting malcolmb14
felt like that in oil yesterday closed for $4.75 up ( 475 pips) and then it kept going and going and going lol


remember a trader never went broke taking a profit and another trade is just around the corner
That's still a damn nice profit for the day my friend. Excellent work on that.
I dream, therefore I become.
  • #116,734
  • Sep 23, 2008 12:37pm Sep 23, 2008 12:37pm
The Power of the weekend price action alone tells me enough that this pair is going down the gutter this week!

Trading with technicals alone is like the blind leading the blind. I've had experience with banks before to know what it's like!

99% of the traders don't know what they are doing! Usually, when one of them buys, the others follow! And the one who leads the herd is usually the Denozo type forex trading field agent who thinks he knows alot but ends up looking like an ass in the end!

Trading without sound fundamentals is like trying to solve a problem without first knowing the tools to use!

FIRST ESTABLISH FUNDAMENTALS! THEN TACKLE TECHNICAL ISSUES!!!

This is how trading or doing any businness for that matter is supposed to work!

And when fundamentals are established, you don't see much of a hope for this pair unless it is willing to lower itself down to it's real nominal value.

Alot of people I know are pissed with this pair simply because it keeps inflating it's value out of thin air, by which this black hole it now expects its own population to fill up. There is a reason why people like George soros and Jim rogers are who they are today, and I can tell you, it's not because of technicals! Sure price rises, but when it burst (and it will definately burst) it will be flushed straight down into the sewers!

And personally in my opinion, as far as I can see, along with the rest of you!!!
  • #116,735
  • Sep 23, 2008 12:38pm Sep 23, 2008 12:38pm
Quoting mike w
That's still a damn nice profit for the day my friend. Excellent work on that.

I did the same thing today ... got $1.38 on short .... and then closed .. only to come back later and find it dropped $5 ... lol

grr..
Blogging daily now at www.volume.zone
  • #116,736
  • Sep 23, 2008 12:51pm Sep 23, 2008 12:51pm
Quoting WackyInvest
The Power of the weekend price action alone tells me enough that this pair is going down the gutter this week!

Trading with technicals alone is like the blind leading the blind. I've had experience with banks before to know what it's like!

99% of the traders don't know what they are doing! Usually, when one of them buys, the others follow! And the one who leads the herd is usually the Denozo type forex trading field agent who thinks he knows alot but ends up looking like an ass in the end!

Trading without sound fundamentals is like trying to solve a problem without first knowing the tools to use!

FIRST ESTABLISH FUNDAMENTALS! THEN TACKLE TECHNICAL ISSUES!!!

This is how trading or doing any businness for that matter is supposed to work!

And when fundamentals are established, you don't see much of a hope for this pair unless it is willing to lower itself down to it's real nominal value.

Alot of people I know are pissed with this pair simply because it keeps inflating it's value out of thin air, by which this black hole it now expects its own population to fill up. There is a reason why people like George soros and Jim rogers are who they are today, and I can tell you, it's not because of technicals! Sure price rises, but when it burst (and it will definately burst) it will be flushed straight down into the sewers!

And personally in my opinion, as far as I can see, along with the rest of you!!!

i have had experience with the bank also ... I just went to the ATM this morning ...lol

let me see ... the fundies .. well Lehman gone , WMU almost gone , Goldman getting bank status , bail out plan , you name it....the fundies are crap ....

but I guess you have been shorting all the way up from 185 .... and I guess your biggest position is 1000 pips in the hole .. but it is ok cause it is going in the crapper as you say

weather it is or not only depends on the USDJPY ... how comes things are WORSE now than they were earlier this year and gold is only 900 and the USDJPY is still above 100. ???? am I missing something. i would love you to explain that one as you know so much about fundies.

maybe the whole thing is being manipulated ... but I for one am making money along the way .....both sides of the markets . Does that mean I am stupid .. NO ....it means I understand how to take advantage of the volatility and make it work for me , while managing the risk on each trade.

There are lots of day traders and swing traders out there that are very successful because they can react to the market rather than try to guess at it. YOU seem to be one guessing .....and the one who will suffer in the end....

when is it going to drop ? today ??? maybe but YM broke 11000 one more time and GJ is still being supported by someone. Maybe that someone or something is sentiment or perception .

anyway while typing this my last short profit target of 195.45 on the bid side was filled at 195.52 .
Blogging daily now at www.volume.zone
  • #116,737
  • Sep 23, 2008 1:05pm Sep 23, 2008 1:05pm
Quoting malcolmb14
my daily pivot 8491 ... if we hook back above that expect 30 pips up side movement

trader hope you took the profit or moved stop tight ... oil popped off 104 zone for $2 , taking gu up through that dp for 50 pips
Blogging daily now at www.volume.zone
  • #116,738
  • Sep 23, 2008 1:25pm Sep 23, 2008 1:25pm
Quoting malcolmb14
my daily pivot 8491 ... if we hook back above that expect 30 pips up side movement
Got out at 8478, And in fact it did reverse rather violently. I'm short again from 8568 with a really tight stop.
  • #116,739
  • Sep 23, 2008 1:28pm Sep 23, 2008 1:28pm
Quoting WackyInvest
FIRST ESTABLISH FUNDAMENTALS! THEN TACKLE TECHNICAL ISSUES!!!

Somehow I get the feeliing you have wandered into the wrong forum .. they should have some here that discuss the fundies.
  • #116,740
  • Sep 23, 2008 1:29pm Sep 23, 2008 1:29pm
Your arragonce amuses me. If only the whole world's financial system were run by people like you.

We would collaspe sooner than we think. Just in case you don't already know why uj is still above 100, I must say that you are really ill-informed.

Read the news! That's the reason why it's printed for!

As for gold! Everyone (though I can't say the same for you or for many others for that matter) knows that it's a useless metal! What we need are stuff that we can chew on! Something that fills our stomach! It's called survival!

And if the pound keeps relying on paper money, it's going to find itself at where the dollar is heading for!

Just for your info, the calander figures on this website for the Eurozone show no growth for the last 3 months! Do the math!
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