DislikedHi guys,
Help pls. I took a short position at 142.50 & set my stop loss at b/e. Below are the charts as shown on my platform, is it possible that there's a gap up to buy my position?Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #139,462
- Nov 20, 2008 2:09am Nov 20, 2008 2:09am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
something to consider. . .
although I am optimistic that price will complete the downside channel we could see a bounce from 140.15/20 area back up to the top channel before heading further down. . . or or or
If it breaks then lower price will be forthcoming seeing the rallies are getting contained by 142.25/50 resistance. . .
Just food for thought - need strong momentum to break thru 139 area for further downside and price is a bit OS right now with but minimal retrace suggest no end in lower price insight. . .
also thursday's have been a retrace day as of late to see those retraces sold after NY session. . .
Back to bed. . .
although I am optimistic that price will complete the downside channel we could see a bounce from 140.15/20 area back up to the top channel before heading further down. . . or or or
If it breaks then lower price will be forthcoming seeing the rallies are getting contained by 142.25/50 resistance. . .
Just food for thought - need strong momentum to break thru 139 area for further downside and price is a bit OS right now with but minimal retrace suggest no end in lower price insight. . .
also thursday's have been a retrace day as of late to see those retraces sold after NY session. . .
Back to bed. . .
- #139,465
- Nov 20, 2008 2:17am Nov 20, 2008 2:17am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
gotta get some sleep before i go to work. darn, it's 5:00 am already.
see you guys back in ny. good trading everyone.
- #139,467
- Nov 20, 2008 2:28am Nov 20, 2008 2:28am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
KArmo, be honest do you have crystall ball or something
Trade what you see, not what you think.
- #139,468
- Nov 20, 2008 2:30am Nov 20, 2008 2:30am
- | Additional Username | Joined Sep 2009 | 8,623 Posts
- #139,469
- Nov 20, 2008 2:31am Nov 20, 2008 2:31am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #139,471
- Nov 20, 2008 2:32am Nov 20, 2008 2:32am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #139,474
- Nov 20, 2008 2:35am Nov 20, 2008 2:35am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #139,476
- Nov 20, 2008 2:39am Nov 20, 2008 2:39am
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
loool i closed my last short from 147 just a few minutes ago...i'm currently flat...bit confused right now so waiting. I really don't think we're tanking just yet..
Trade what you see, not what you think.
- #139,477
- Nov 20, 2008 2:41am Nov 20, 2008 2:41am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
i'm only 40% sure this will play out (very small chance), i would've been 70% sure if CCI wasn't below the -100 line on my 4h charts.
if this support (140.20 - 141.30) holds, and we break above the descending green TL, we are going for a very good rally that could take out 147.80....
a small possibility though.
if we reach 140.20 i'll try a small long position.
if this support (140.20 - 141.30) holds, and we break above the descending green TL, we are going for a very good rally that could take out 147.80....
a small possibility though.
if we reach 140.20 i'll try a small long position.
- #139,478
- Nov 20, 2008 2:41am Nov 20, 2008 2:41am
- | Joined Dec 2006 | Status: o_O | 1,511 Posts
come on pound break that trendline, and let just fall )
)
