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

  • #143,681
  • Nov 26, 2008 8:32pm Nov 26, 2008 8:32pm
3 min chart channel 146.17 to 146.8

3 times in asia so far ...really easy trading
Blogging daily now at www.volume.zone
  • #143,682
  • Nov 26, 2008 8:32pm Nov 26, 2008 8:32pm
Quoting pkimnyc
evening star off the 38 fib?

HI PKIMNYC,

what does an evening star represent??

thanks for your help

bdisciplined
  • #143,683
  • Nov 26, 2008 8:32pm Nov 26, 2008 8:32pm
Quoting malcolmb14
3 min chart channel 146.17 to 146.8

3 times in asia so far ...really easy trading
You da man, Malcomb
  • #143,684
  • Nov 26, 2008 8:32pm Nov 26, 2008 8:32pm
Quoting ovaforty
I am enjoying cooking my pecan pies for tomorrow, and enjoying life. i will be around until it's this old man's bedtime.
that sounds good.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #143,685
  • Nov 26, 2008 8:33pm Nov 26, 2008 8:33pm
I am long again off dp, 146.35
  • #143,686
  • Nov 26, 2008 8:35pm Nov 26, 2008 8:35pm
Quoting Bdisciplined
HI PKIMNYC,

what does an evening star represent??

thanks for your help

bdisciplined
usually represents reversal, but the low of the right side bar must be broken in 3 days (3 bars, i'm looking @ daily chart). lol. right m?
  • #143,687
  • Nov 26, 2008 8:47pm Nov 26, 2008 8:47pm
ok here's something really silly i think this is the top

looking at the daily i cant see it rising - could be totally wrong and probably am its just what i see
  • #143,688
  • Nov 26, 2008 8:49pm Nov 26, 2008 8:49pm
Quoting pkimnyc
usually represents reversal, but the low of the right side bar must be broken in 3 days (3 bars, i'm looking @ daily chart). lol. right m?
THANKS!!!
  • #143,689
  • Nov 26, 2008 8:51pm Nov 26, 2008 8:51pm
Quoting Bdisciplined
THANKS!!!
np
  • #143,690
  • Nov 26, 2008 8:56pm Nov 26, 2008 8:56pm
Quoting cohiba pips
ok here's something really silly i think this is the top

looking at the daily i cant see it rising - could be totally wrong and probably am its just what i see
Yep, could be. Also, a ton of resistance now at 148 ..plus a (sloppy) head n shoulders on 4hr.
  • #143,691
  • Nov 26, 2008 8:57pm Nov 26, 2008 8:57pm
Head fakes and false breaks are common in the Geppy. She can be a bitch, but ya gotta love her.
  • #143,692
  • Nov 26, 2008 8:58pm Nov 26, 2008 8:58pm
Quoting cohiba pips
ok here's something really silly i think this is the top

looking at the daily i cant see it rising - could be totally wrong and probably am its just what i see
I concur =P
  • #143,693
  • Nov 26, 2008 9:00pm Nov 26, 2008 9:00pm
If you use a market order entry, you need to expect more drawdown than a well placed limit order would experience, most of the time.
  • #143,694
  • Nov 26, 2008 9:02pm Nov 26, 2008 9:02pm
Quoting ovaforty
Head fakes and false breaks are common in the Geppy. She can be a bitch, but ya gotta love her.
  • #143,695
  • Nov 26, 2008 9:07pm Nov 26, 2008 9:07pm
Wow! just got home from day at work and did this range or what!
  • #143,696
  • Nov 26, 2008 9:08pm Nov 26, 2008 9:08pm
is that why i cant win. I enjoy reading ya'll posts, I thought i was learning, could u please elaborate on this drawdown to expect and why.
thx in advanced
  • #143,697
  • Nov 26, 2008 9:15pm Nov 26, 2008 9:15pm
Quoting educatedthug
is that why i cant win. I enjoy reading ya'll posts, I thought i was learning, could u please elaborate on this drawdown to expect and why.
thx in advanced
Depends on what indicators you're looking at. Most are considering Auslanco's strategy here, supplementing with their own techniques.

For me, I see a drawdown right now for a couple of reasons. There's decent resistance here, 15m is developing a downward sloping TL, elliot wave count tells me we're in a correction from the impulsive buying from new lows, the dow jones just had 4 days straight of positive gains without pulling back into the close, the dollar index found support and is looking healthy to pick a new top, and finally, where there is smoke, there's fire- the bad numbers we are hearing in housing, financial sectors, etc... to me are indicative of a deeper cancer that has yet to be fully realized.

My 2 pips.
What's that smell?
  • #143,698
  • Nov 26, 2008 9:16pm Nov 26, 2008 9:16pm
If the market order is placed in the middle of a range then it is subject to drawdown while the currency pair is resolving her range. Trades go both ways within a tighter range, and tests support and resistance.


So you enter and the trade goes the other way a lot, if you guessed wrong, and you win if you guessed correctly. Flip a coin. Casino odds.
  • #143,699
  • Nov 26, 2008 9:18pm Nov 26, 2008 9:18pm
Quoting jon clogger
Depends on what indicators you're looking at. Most are considering Auslanco's strategy here, supplementing with their own techniques.

For me, I see a drawdown right now for a couple of reasons. There's decent resistance here, 15m is developing a downward sloping TL, elliot wave count tells me we're in a correction from the impulsive buying from new lows, the dow jones just had 4 days straight of positive gains without pulling back into the close, the dollar index found support and is looking healthy to pick a new top, and finally, where there...
Yeah. Risk Aversion would be bearish indeed.
  • #143,700
  • Nov 26, 2008 9:22pm Nov 26, 2008 9:22pm
Quoting ovaforty
If the market order is placed in the middle of a range then it is subject to drawdown while the currency pair is resolving her range. Trades go both ways within a tighter range, and tests support and resistance.


So you enter and the trade goes the other way a lot, if you guessed wrong, and you win if you guessed correctly. Flip a coin. Casino odds.

thanks, man 1 whole month of market entries , gamblin huh
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