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

  • #135,821
  • Nov 13, 2008 8:44am Nov 13, 2008 8:44am
Nothing unexpected! This was the pattern on all openings since Asia. Tokyo, London, and now New York all opened with fast bullish moves, the reason was mainly short covering, and in the Asian session, Japanese importers used the opportunity of a strong yen to buy cheap foreign goods . Usually we should go lower now after retesting the LTL of the last bear flag, which is a normal PA pattern after the initial breakout. But be aware of sudden moves and keep your SLs tight.

By the way, where is Orion? today is a full moon day
  • #135,822
  • Nov 13, 2008 8:44am Nov 13, 2008 8:44am
ok i'm back..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #135,823
  • Nov 13, 2008 8:45am Nov 13, 2008 8:45am
Quoting forexer
S/L been raised at 143.10 .just to give a room for the beast to move
ur SL should've been a little above 1h gann.. and even though, ur entire entry was wrong. price was oversold when it broke out, hence "false" breakout.

no offence of course, but i'd like to advise selling rallies and buying dips (for the 3rd time). buying tops and selling bottoms reduce the probablity of the trade more than half.

hope it gets better for u next time
  • #135,824
  • Nov 13, 2008 8:45am Nov 13, 2008 8:45am
Quoting forexer
i've just sold the beast at 141.80 targeting 135.00 level

let's watch the show


warning: don't follow me .i'm speculating aggressively.
short position is still in play

S/L raised again at 144.00 ,5% risk
I always knew that someday I would make it big
  • #135,825
  • Nov 13, 2008 8:46am Nov 13, 2008 8:46am
Quoting england33
ok i'm back..
Were've u been?
  • #135,826
  • Nov 13, 2008 8:47am Nov 13, 2008 8:47am
Quoting karmostaji
lol stupid fake breakout

all I see is Lows are getting higher...

Sonic
  • #135,827
  • Nov 13, 2008 8:47am Nov 13, 2008 8:47am
Quoting kinzu
Were've u been?
waiting for the action. i've actually been silently here.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #135,828
  • Nov 13, 2008 8:47am Nov 13, 2008 8:47am
Quoting lilmoe
ur SL should've been a little above 1h gann.. and even though, ur entire entry was wrong. price was oversold when it broke out, hence "false" breakout.

no offence of course, but i'd like to advise selling rallies and buying dips (for the 3rd time). buying tops and selling bottoms reduce the probablity of the trade more than half.

hope it gets better for u next time
What do you use to see if price is oversold or overbought ?
4X is the biggest casino in the world...Open 24h Monday to Friday.
  • #135,829
  • Nov 13, 2008 8:48am Nov 13, 2008 8:48am
Quoting forexer
short position is still in play

S/L raised again at 144.00 ,5% risk
lol
Trade what you see, not what you think.
  • #135,830
  • Nov 13, 2008 8:51am Nov 13, 2008 8:51am
I still holding shorts until tomorrow malaysian time
{Promotion Removed}
  • #135,831
  • Nov 13, 2008 8:51am Nov 13, 2008 8:51am
Quoting forexer
short position is still in play

S/L raised again at 144.00 ,5% risk
  • #135,832
  • Nov 13, 2008 8:52am Nov 13, 2008 8:52am
Quoting sonicdeejay
all I see is Lows are getting higher...

Sonic
It is because of the bear flag on 15m
Attached Image (click to enlarge)
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Do not follow my trades. Trade what you see on your own charts.
  • #135,833
  • Nov 13, 2008 8:54am Nov 13, 2008 8:54am
Quoting igmak
It is because of the bear flag on 15m
  • #135,834
  • Nov 13, 2008 8:55am Nov 13, 2008 8:55am
fake out of the century. that's like a cab stopping for a customer and driving off a cliff.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #135,835
  • Nov 13, 2008 8:56am Nov 13, 2008 8:56am
Quoting pipsy_2
What do you use to see if price is oversold or overbought ?
i use MACD and QQE for OB/OS levels. plus price was in a range before that breakout, and therefore it's very likely it will go back to the range.

back in june, i explained a theory called "2nd time through". i don't have the book though ATM. this theory states that when price is in a range, the first breakout is usually a false breakout (same as the range back at 209-213 level). price goes through that range 2 times, and when it breaks through for the second time, that's ur best entry.

that's also why i said i'll go short if we get another breakout, cuz that would be the 2nd time through.

this entire move is either a stop catcher or a reversal. 5 mins remaning for this 1h candle, if we stay below the TL we have a good chance of resuming downwards.

a good short entry was 5 5min candles ago.
  • #135,836
  • Nov 13, 2008 8:56am Nov 13, 2008 8:56am
It has no where to go but down, if it closes above 143 then it'll complicate things a bit.

It's playing games with us, ping pong
Trade what you see, not what you think.
  • #135,837
  • Nov 13, 2008 8:59am Nov 13, 2008 8:59am
Quoting lilmoe
i use MACD and QQE for OB/OS levels. plus price was in a range before that breakout, and therefore it's very likely it will go back to the range.

back in june, i explained a theory called "2nd time through". i don't have the book though ATM. this theory states that when price is in a range, the first breakout is usually a false breakout (same as the range back at 209-213 level). price goes through that range 2 times, and when it breaks through for the second time, that's ur best entry.

that's also why i said i'll go short if we get another...
so this time it's real break out then
  • #135,838
  • Nov 13, 2008 8:59am Nov 13, 2008 8:59am
Quoting forexer
short position is still in play

S/L raised again at 144.00 ,5% risk
u r funny
  • #135,839
  • Nov 13, 2008 9:01am Nov 13, 2008 9:01am
Quoting karmostaji
lol
i had to raise the S/L at 144.00
i know it's risky trade and may be i will be kicked in the ass with nice loss but i still believe this beast is going tobe sold off making new low
I always knew that someday I would make it big
  • #135,840
  • Nov 13, 2008 9:04am Nov 13, 2008 9:04am
Quoting karmostaji
It has no where to go but down, if it closes above 143 then it'll complicate things a bit.

It's playing games with us, ping pong
Karmo you mean the 4h candle to close above 143?
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