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

  • #133,141
  • Nov 7, 2008 1:30am Nov 7, 2008 1:30am
Quoting Geppy
I'm only beginning to build a short position in USD/JPY and I will add more as it goes up (I fully expect it to). However, USD/JPY has not been reacting nearly has aggressive as GBP/JPY and it is currently right underneath some substantial resistance zones. Therefore, I'm starting earlier with my USD/JPY shorts and waiting for GBP/JPY to complete it's up-leg here.
where is uj's 200sma now?i'm in office i will consider to short it at 200sma
  • #133,142
  • Nov 7, 2008 1:30am Nov 7, 2008 1:30am
Take note right now how G/J has come hard off it's lows here and is going after new highs while U/J sits idle.

These are the nuances that, if you can catch, can help you make a lot more money.
check out my blog: forexmademillionaire dot com
  • #133,143
  • Nov 7, 2008 1:33am Nov 7, 2008 1:33am
Quoting moneybookers
where is uj's 200sma now?i'm in office i will consider to short it at 200sma
W

I don't use the 200sma, in fact I don't use any MAs
check out my blog: forexmademillionaire dot com
  • #133,144
  • Nov 7, 2008 1:33am Nov 7, 2008 1:33am
DP and 38.5% fib retest...
  • #133,145
  • Nov 7, 2008 1:43am Nov 7, 2008 1:43am
Also just touched the 4hr 5sma....

3 pretty tough resistance levels...
  • #133,146
  • Nov 7, 2008 1:43am Nov 7, 2008 1:43am
GM all - hope you guys got some more pips overnight - I got sleep!

I'm still trading off my 1 min chart as I dont see a clear move yet - just closed my longs on the attempt on the 53.50 area resistance and I've now taken a small short as there is a double top on the 1 min chart. I'll add if / when the 1m 34 ema is broken. I'm trailing a 20 pip stop so that may get hit - no prob, I just take the next ST signal....

IF 53.50 gets taken out I'll go long looking for the next fibo level....
Attached Image (click to enlarge)
Click to Enlarge Name: nov 7 gj 15m 0730.gif Size: 13 KB
Trading Levels with WRBs
  • #133,147
  • Nov 7, 2008 1:58am Nov 7, 2008 1:58am
Geppy, are you sure it will reach 156 today?
  • #133,148
  • Nov 7, 2008 1:59am Nov 7, 2008 1:59am
I am quite confident my friend, I just added a little more
check out my blog: forexmademillionaire dot com
  • #133,149
  • Nov 7, 2008 2:01am Nov 7, 2008 2:01am
i see many traders here are willing to take large draw downs.
some calling for 156, 157, and some 160 even.
before you take the trade, ask yourself what if the price doesn't turn at the above levels mentioned. are you guys really willing to withstand that much draw down? i think it would be wiser to cut the loss small then wait for the next set up before taking the trade, instead of placing the trade and wishing for it to go right direction.

not saying the price wouldn't turn. just hope that everyone trades safe.
good luck everyone.
  • #133,150
  • Nov 7, 2008 2:03am Nov 7, 2008 2:03am
That was nice - I took partials as GU spiked down to 5600 - I was also short there too, Now what will the Brits do?
Trading Levels with WRBs
  • #133,151
  • Nov 7, 2008 2:06am Nov 7, 2008 2:06am
Quoting pkimnyc
i see many traders here are willing to take large draw downs.
some calling for 156, 157, and some 160 even.
before you take the trade, ask yourself what if the price doesn't turn at the above levels mentioned. are you guys really willing to withstand that much draw down? i think it would be wiser to cut the loss small then wait for the next set up before taking the trade, instead of placing the trade and wishing for it to go right direction.

not saying the price wouldn't turn. just hope that everyone trades safe.
good luck everyone.
I see many traders here too quick to jump to conclusions and making assumptions before reading people's posts. I don't understand how jumping into the middle of conversations allows one to believe they know the whole story and therefore judge who has trades in at what levels.

If these traders would take the time to learn the facts BEFORE posting, they might realize that some traders are long GBP/JPY from the LOW 150.00s that 150.00

In layman's terms, that means I have not had ANY draw down on this trade.

Thanks for your concern.
check out my blog: forexmademillionaire dot com
  • #133,152
  • Nov 7, 2008 2:07am Nov 7, 2008 2:07am
Quoting Islander
That was nice - I took partials as GU spiked down to 5600 - I was also short there too, Now what will the Brits do?
Nice scalp Islander, I've never been one to get those small moves but I respect those that can.
check out my blog: forexmademillionaire dot com
  • #133,153
  • Nov 7, 2008 2:08am Nov 7, 2008 2:08am
Quoting Geppy
I am quite confident my friend, I just added a little more

Would you like to share your analysis supporting your view......
Trading Levels with WRBs
  • #133,154
  • Nov 7, 2008 2:10am Nov 7, 2008 2:10am
For those trading the G/J long here is a screen shot I just took. Notice the bounce off a little proprietary indicator of mine.
Attached Image
check out my blog: forexmademillionaire dot com
  • #133,155
  • Nov 7, 2008 2:20am Nov 7, 2008 2:20am
Quoting Geppy
I see many traders here too quick to jump to conclusions and making assumptions before reading people's posts. I don't understand how jumping into the middle of conversations allows one to believe they know the whole story and therefore judge who has trades in at what levels.

If these traders would take the time to learn the facts BEFORE posting, they might realize that some traders are long GBP/JPY from the LOW 150.00s that 150.00

In layman's terms, that means I have not had ANY draw down on this trade.

Thanks for your concern.
I don't think he is concerned about you. I think he is talking to newer traders who follow these posts and some may jump in here thinking it will go to 156 or 158. If you're wrong, they could get hurt .. and in any case they could also experience large drawdowns waiting for 156.

Better to trade what you see on your own charts .. even karmo & lilmoe make bad calls occasionally.
  • #133,156
  • Nov 7, 2008 2:20am Nov 7, 2008 2:20am
we are getting some HIGER LOWS agree Geppy? towards our long goal

Quoting Geppy
For those trading the G/J long here is a screen shot I just took. Notice the bounce off a little proprietary indicator of mine.
  • #133,157
  • Nov 7, 2008 2:26am Nov 7, 2008 2:26am
Quoting dialpips
hi karmo, hope u've not made a wrong decision. gj is yearning for the north.
Naaaaaaaaaaaaaaaaaaaaah
Trade what you see, not what you think.
  • #133,158
  • Nov 7, 2008 2:26am Nov 7, 2008 2:26am
Quoting TraderStar
I don't think he is concerned about you. I think he is talking to newer traders who follow these posts and some may jump in here thinking it will go to 156 or 158. If you're wrong, they could get hurt .. and in any case they could also experience large drawdowns waiting for 156.

Better to trade what you see on your own charts .. even karmo & lilmoe make bad calls occasionally.
Good point & dually noted.


Yes Serendipity, we have a bit of consolidation going on now, but the next push I see breaking 154.00
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  • #133,159
  • Nov 7, 2008 2:27am Nov 7, 2008 2:27am
you long too karmo? target 156?

Quoting karmostaji
Naaaaaaaaaaaaaaaaaaaaah
  • #133,160
  • Nov 7, 2008 2:35am Nov 7, 2008 2:35am
hi geppy, thanks for showing your chart but does this prove it will hit the upper line of your proprietary indicator? lets just say iam fishing for direction.trend definitely bearish but when to go short and avoid drawdowns? i don't wish to be in the market for NFP.THANKS
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