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

  • #138,401
  • Nov 18, 2008 9:52pm Nov 18, 2008 9:52pm
Quoting forexlion
I took a Long here for 148, correct me if I am wrong.
only the counts of 12345 are impulse wave which follows the main trend. in this case, the way i see it is a corrective wave. could be zig zag (way too complicated.)
  • #138,402
  • Edited 10:00pm Nov 18, 2008 9:57pm | Edited 10:00pm
I'm long to 144.50. Price seems to have formed a temporary lower trendline. Let's see how it goes . . .
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  • #138,403
  • Nov 18, 2008 10:01pm Nov 18, 2008 10:01pm
Quoting Pips_Cruiser
I'm long to 144.50. Price seems to have formed a temporary lower trendline. Let's see how it goes . . .
Target hit.

  • #138,404
  • Nov 18, 2008 10:01pm Nov 18, 2008 10:01pm
Quoting Pips_Cruiser
I'm long to 144.50. Price seems to have formed a temporary lower trendline. Let's see how it goes . . .

Nice call..that was quick!
  • #138,405
  • Nov 18, 2008 10:04pm Nov 18, 2008 10:04pm
if the thick red tl holds then i think this is on the table.
(not counting sub waves atm).
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  • #138,406
  • Nov 18, 2008 10:04pm Nov 18, 2008 10:04pm
Quoting Pips_Cruiser
Target hit.

nice one.
  • #138,407
  • Nov 18, 2008 10:06pm Nov 18, 2008 10:06pm
Quoting forexlion
I took a Long here for 148, correct me if I am wrong.
To set you on path
http://www.investopedia.com/articles...cal/111401.asp
  • #138,408
  • Nov 18, 2008 10:06pm Nov 18, 2008 10:06pm
Quoting Pips_Cruiser
I'm long to 144.50. Price seems to have formed a temporary lower trendline. Let's see how it goes . . .
Excellent!

I had that temp lower TL at 143.9X and Long filled at 144.19. Still in play with Stop moved to +10.

:}
  • #138,409
  • Nov 18, 2008 10:07pm Nov 18, 2008 10:07pm
Quoting cheese
Nice call..that was quick!
It surprised me. Probably should have made a bigger trade. But I usually don't have much faith in asian session trades. Too erratic.
  • #138,410
  • Nov 18, 2008 10:12pm Nov 18, 2008 10:12pm
Quoting pkimnyc
if the thick red tl holds then i think this is on the table.
(not counting sub waves atm).
The last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.
  • #138,411
  • Nov 18, 2008 10:14pm Nov 18, 2008 10:14pm
Quoting Eulogy
The last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.

That would be KEWL!!!

  • #138,412
  • Nov 18, 2008 10:15pm Nov 18, 2008 10:15pm
Quoting Eulogy
The last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.
exactly. similar pattern i'm looking @ also.
  • #138,413
  • Nov 18, 2008 10:18pm Nov 18, 2008 10:18pm
Hi Folks, newbie here with questions.

I have been trading a live account for about 2 months, but my strategy has only been scalping the market using 144 Tick Chart.. So far its been ok, again its a LIVE account, not demo, as I never believed in demo trading.. started with play money of $2k and have managed to take it to over $8k in less than 2 month timeframe, however I never used anything fancy, just basic MA's, Stochs, RSI and ever since I came across this thread, I cant seem to get back to scalping, the pips I catch are so minor compared to this type of trading, not to mention the stress that comes with scalping.

I would like to graduate into Swing Trading like a lot of folks here, and more importantly, do my own analysis of the market. I see things like PA, Fibs, Bear/Bull Patterns and a whole lot of other things I have never heard before, being discussed. Dont get me wrong, this thread is awesome, and I have learned a lot already, but its geared more towards the experienced folk hanging out swapping ideas. I would like to know if anyone can point me to a good source (I know theres always google if you have all the time in the world) where I can learn this in detail as to how I should be using all of those tools properly, and tie it all together... its hard to follow the thread, because everyone here assumes that all viewing the thread or on the same level of knowledge.

Any thoughts? ideas? suggestions?
  • #138,414
  • Nov 18, 2008 10:21pm Nov 18, 2008 10:21pm
Quoting Eulogy
The last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.
Nice observation.
  • #138,415
  • Nov 18, 2008 10:29pm Nov 18, 2008 10:29pm
Quoting Eulogy
The last time that the price in GJ was this stable was a small patch around July 08 where it hovered around the 211 area... before shooting off to 215.8 (400-500 pips) and then collapsing. If the same holds, malcolms 149.50 might just be caught before the next great unwind.
Well, I hope you're right bro. Every time I want to go long, I check the Aussie treasuries as I've observed it has some kind of correlation. As of now it has been very negative/bearish. I went long as well earlier and closed for a few pips only as was very uncomfortable seeing the Aussie treasuries still very bearish. Hence, I don't know if we would see 149 handle. It is a big question mark here.
  • #138,416
  • Nov 18, 2008 10:39pm Nov 18, 2008 10:39pm
Quoting rdtsa09
Hi Folks, newbie here with questions.

I have been trading a live account for about 2 months, but my strategy has only been scalping the market using 144 Tick Chart.. So far its been ok, again its a LIVE account, not demo, as I never believed in demo trading.. started with play money of $2k and have managed to take it to over $8k in less than 2 month timeframe, however I never used anything fancy, just basic MA's, Stochs, RSI and ever since I came across this thread, I cant seem to get back to scalping, the pips I catch are so minor compared...
you can start from here. there are many others.
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  • #138,417
  • Nov 18, 2008 10:45pm Nov 18, 2008 10:45pm
should be up thrust from here.
  • #138,418
  • Nov 18, 2008 10:47pm Nov 18, 2008 10:47pm
On my charts the next 4H close is in about 15 minutes. If it closes below 144.08 it will flip the Gann to bearish.

On the other hand, if it closes above that level and price rallies during the next few hours, the 4H QQE will move above 50 and we could have a good 4hr / 1hr trade setup during London or NY.
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  • #138,419
  • Nov 18, 2008 10:50pm Nov 18, 2008 10:50pm
Quoting Pips_Cruiser
On my charts the next 4H close is in about 15 minutes. If it closes below 144.08 it will flip the Gann to bearish.

On the other hand, if it closes above that level and price rallies during the next few hours, the 4H QQE will move above 50 and we could have a good 4hr / 1hr trade setup during London or NY.
thanks cruiser.
  • #138,420
  • Nov 18, 2008 10:51pm Nov 18, 2008 10:51pm
Good morning

sleeping is good
Trade what you see, not what you think.
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