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

  • #145,161
  • Dec 2, 2008 8:14am Dec 2, 2008 8:14am
Quoting Piters
Already Shorted
Good work
  • #145,162
  • Dec 2, 2008 8:15am Dec 2, 2008 8:15am
How do u, actually, treat to 1m double top/bottom guys? I spot them, but the time frame....?
  • #145,163
  • Dec 2, 2008 8:18am Dec 2, 2008 8:18am
that last move made me chicken out of the longs and sit on the fence, just 40 from the last ones
  • #145,164
  • Dec 2, 2008 8:20am Dec 2, 2008 8:20am
Quoting pipsbull
How do u actually,guys treat to 1m double top/bottom guys? I spot them, but the time frame....?
I usually ask M.C. Escher and then it goes something like this :
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  • #145,165
  • Dec 2, 2008 8:21am Dec 2, 2008 8:21am
well i ll short in the beginning of coming 15 min it ll not continue down till then
  • #145,166
  • Dec 2, 2008 8:22am Dec 2, 2008 8:22am
Quoting belekas
I usually ask M.C. Escher and then it goes something like this :
got you
  • #145,167
  • Dec 2, 2008 8:42am Dec 2, 2008 8:42am
Any takes on shorting 1H 50 EMA ?
  • #145,168
  • Dec 2, 2008 8:53am Dec 2, 2008 8:53am
hello guys,
just poping in to c wats going on...been off for a while. is the market raging or trending?
  • #145,169
  • Dec 2, 2008 8:59am Dec 2, 2008 8:59am
Quoting albashir
hello guys,
just poping in to c wats going on...been off for a while. is the market raging or trending?
You are correct, the market is 'raging' ..
  • #145,170
  • Dec 2, 2008 9:11am Dec 2, 2008 9:11am
oh..
stopped out for 11,7....cld af had 50,34....but for marketiva.....no trailing stop but manual....
well +ve better than -ve...
  • #145,171
  • Dec 2, 2008 9:22am Dec 2, 2008 9:22am
Made terrible mistake today and took someones call on this thing tankin. Was so hung up on it that I completely ignored my charts. Kept adding shorts on the way up and got burned really bad. Pretty much blew up a good size account. I was up on a previous short a good 10% before this happened. Cashed it out and everything. What an idiot I am. First and last time i'll do that. Go ahead everyone, ream me out. I deserve it.
  • #145,172
  • Dec 2, 2008 9:22am Dec 2, 2008 9:22am
I still think today DP (141.25 area) would be hit before a massive down ...
  • #145,173
  • Edited 9:31am Dec 2, 2008 9:29am | Edited 9:31am
Quoting Dmac
Made terrible mistake today and took someones call on this thing tankin. Was so hung up on it that I completely ignored my charts. Kept adding shorts on the way up and got burned really bad. Pretty much blew up a good size account. I was up on a previous short a good 10% before this happened. Cashed it out and everything. What an idiot I am. First and last time i'll do that. Go ahead everyone, ream me out. I deserve it.
that sucks dmac ... i think most have done the same. Go back to basics and you will persevere
  • #145,174
  • Dec 2, 2008 9:29am Dec 2, 2008 9:29am
I guess it's playing out the 1hr bullish divergence. How much higher can it go??
  • #145,175
  • Dec 2, 2008 9:31am Dec 2, 2008 9:31am
Quoting pipsbull
How do u, actually, treat to 1m double top/bottom guys? I spot them, but the time frame....?

Here's a simple set up IF you want to look at a 1 min chart.....the aqua line is a 170 ema - that is ~the same as the 34 ema on the 5 min chart. The outer dashed band is at + 175 and indicates a slightly oversold condition.

So 2 failures just under a 100 level with the slope of the 170 ema weakening - see the green histogram - I dont need it, but have put it on for clarity - and take a Short Scalp with a tight stop - an easy entry is off the break of the gold line - a 13 ema....and look for the next sweet spot - the 50 level.

Just under that 50 level held twice with the 170 ema then also adding support, so try a long at 4 and go for the next SS - the 50 level.

Also, trail a stop asap.....
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Trading Levels with WRBs
  • #145,176
  • Dec 2, 2008 9:35am Dec 2, 2008 9:35am
Quoting mktjong
I still think today DP (141.25 area) would be hit before a massive down ...
Even a 50% of yesterday's move which is at around 142.32 area ..
  • #145,177
  • Dec 2, 2008 9:37am Dec 2, 2008 9:37am
[quote=mktjong;2390499]I still think today DP (141.25 area) would be hit before a massive down ...[/quote

Remember that the Beast like to retrace to the 50% mark.
The DP is near the 50% mark, just a touch higher (141.50-70).
I trade what I see on my charts. Do Not listen to the Muppets.
  • #145,178
  • Dec 2, 2008 9:38am Dec 2, 2008 9:38am
Quoting Dmac
Made terrible mistake today and took someones call on this thing tankin. Was so hung up on it that I completely ignored my charts. Kept adding shorts on the way up and got burned really bad. Pretty much blew up a good size account. I was up on a previous short a good 10% before this happened. Cashed it out and everything. What an idiot I am. First and last time i'll do that. Go ahead everyone, ream me out. I deserve it.
I'm very sorry for that Dmac, you remind me of myself doing this once or twice and lost nearly half of my account in early days. Really terrible experience. Never done it again. I always look at the chart coz it tells me everything.
Discipline + Patience - Fear - Greed = Success
  • #145,179
  • Dec 2, 2008 9:42am Dec 2, 2008 9:42am
Quoting Islander
Here's a simple set up IF you want to look at a 1 min chart.....the aqua line is a 170 ema - that is ~the same as the 34 ema on the 5 min chart. The outer dashed band is at + 175 and indicates a slightly oversold condition.

So 2 failures just under a 100 level with the slope of the 170 ema weakening - see the green histogram - I dont need it, but have put it on for clarity - and take a Short Scalp with a tight stop - an easy entry is off the break of the gold line - a 13 ema....and look for the next sweet spot - the 50 level.

Just under that...
Nice chart Islander, you got a dbl top and then a dbl bottom (which you showed them on chart) and now again I see you got another dbl top again.

Did you take that short? I did .. it was a nice little quick +30 pips for me.
Discipline + Patience - Fear - Greed = Success
  • #145,180
  • Dec 2, 2008 9:49am Dec 2, 2008 9:49am
Would anyone agreed that the next couple hours is going to be bullish?
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