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

  • #145,461
  • Dec 3, 2008 3:33am Dec 3, 2008 3:33am
Hi all, new here.

I'm a few thousand miles away but I think I can hear the Brit and Euro farmers and exporting manufacturers popping champagne corks.

In the course of fourteen months the pound has had six years worth of bulls knocked.
Short negativity.
  • #145,462
  • Dec 3, 2008 3:35am Dec 3, 2008 3:35am
Quoting lilmoe
i believe so too, i was guessing a max of 136.07, but that's close enough...

don't forget we have a broadening top on the 4h and daily charts. we should bounce from the lower TL.

a bullish div now is forming on the 1h and 4h charts as of now.

if however, we make it above 141.50 today for any reason, a rally is coming up soon. as long as we keep this lower low pattern, i think the broadening top will be broken to the downside on friday/monday
I said so because of my simple TL and fib analysis. As long as we stay below 138 I'll sell all rallies as medium term trades and if I enter long it should be nothing than small scalps.

Right now I've a buy limit order sitting right at 135.80 just in case price reaches there (bottom picking !!)

I don't know why I like so much to pick tops and bottoms. I've failed nearly 80 percent of my trades when trying to do this but still I like it. I think it's part of my nature to seek adventures and go for danger. I always open small size though.
Attached Image (click to enlarge)
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Discipline + Patience - Fear - Greed = Success
  • #145,463
  • Dec 3, 2008 3:36am Dec 3, 2008 3:36am
this week is bloody red on all pieces of news data.... everyone's doing bad...
  • #145,464
  • Dec 3, 2008 3:37am Dec 3, 2008 3:37am
Quoting forexlife
GM everyone(evenfall here)..
again long @136.66 sl 136. tp 50-300pips..looks more risky than yesterday..
but still worth a try, no chart, pls dont say me random trading, i have sixth sense

Please dont clutter up this thread with random unsubstantiated calls.

Either post with your analysis and reasoning or dont post at all.

Thanks....

PS and sixth sense is NOT analysis or reasoning - if you want to use that, then you should be posting in the Y Ching thread....
Trading Levels with WRBs
  • #145,465
  • Dec 3, 2008 3:39am Dec 3, 2008 3:39am
Quoting Islander
I've taken more partials at the 36.50 level in front of the news in case we are having a "sell the rumour, buy the news" type of move....
Finance Glossary definition of buy on rumour, sell on the fact.
www.finance-glossary.

is that what you are trying to get at?
Timing is everything
  • #145,466
  • Dec 3, 2008 3:41am Dec 3, 2008 3:41am
Quoting arezab
I said so because of my simple TL and fib analysis. As long as we stay below 138 I'll sell all rallies as medium term trades and if I enter long it should be nothing than small scalps.

Right now I've a buy limit order sitting right at 135.80 just in case price reaches there (bottom picking !!)

I don't know why I like so much to pick tops and bottoms. I've failed nearly 80 percent of my trades when trying to do this but still I like it. I think it's part of my nature to seek adventures and go for danger. I always open small...
when good MM is practiced, nothing wrong with that

i refined my top/bottom picking techniques, and i start to buy on bullish HDs after a first bounce. let's see if we get a good bounce and a pullback from our projected lows

nice chart by the way!
  • #145,467
  • Dec 3, 2008 3:42am Dec 3, 2008 3:42am
Quoting forexlion
i might enter fresh sh0rts at 138.16 depending on PA there.

My Support Level 2 is at 135.15 area, And my Mid Point Level is 136.06, may have stall there. However, it it breaks thru 136.06, then 135.15 here we come.
  • #145,468
  • Dec 3, 2008 3:42am Dec 3, 2008 3:42am
Lovely day, loads of green pips

Thank you GJ for the bday gifts yesterday n today
Trade what you see, not what you think.
  • #145,469
  • Dec 3, 2008 3:44am Dec 3, 2008 3:44am
Great insipiring advice Karmo. luv it

yes we to be our OWN Mentors first then get DECIDED to do this full time or some conviction that we WILL get there.

am still in the learning curve / discipline process so i know where Karmo came from. good one Karmo

Serendipity

Quoting karmostaji
I was my own mentor, I just put it in my head that I must learn this and be able to do it full-time.

You need to have the right mind set to trade successfully.
  • #145,470
  • Dec 3, 2008 3:47am Dec 3, 2008 3:47am
Quoting Gull
Finance Glossary definition of buy on rumour, sell on the fact.
www.finance-glossary.

is that what you are trying to get at?
yes, along those lines. There is little doubt that some insiders - the big players - have prior information of much of the released data - this varies from country to country.

Thus they trade this info - the rumour - early, driving prices in one direction and then either taking profit or reversing on the actual release of the data.

Nice link - I'll mark it ....http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #145,471
  • Dec 3, 2008 3:48am Dec 3, 2008 3:48am
Quoting Islander
I've taken more partials at the 36.50 level in front of the news in case we are having a "sell the rumour, buy the news" type of move....
Interested Islander, what is your real target (if you don't mind me asking)...
Has what you wanted to see made you blind?
  • #145,472
  • Dec 3, 2008 3:48am Dec 3, 2008 3:48am
Quoting karmostaji
I was my own mentor, I just put it in my head that I must learn this and be able to do it full-time.

You need to have the right mind set to trade successfully.
Thanks for your reply... Its hard to have a right mind set.. with job.. first new born baby.. and the burden of heavy losses.. makes you loose confidence .. you know.. But hey I aint gonna give up.. from now on apply good MM..( thats the key) otherwise there are no bad.. good traders.. Gonna learn from you guys..
Markets are not Random, they are designed!
  • #145,473
  • Dec 3, 2008 3:49am Dec 3, 2008 3:49am
would that be classic bullish divergence on thr 5m TF?
  • #145,474
  • Dec 3, 2008 3:49am Dec 3, 2008 3:49am
Hi everyone,

I am new to to the board and must admit that I've been lurking and finally decided to post. I've recently started trading the GBPJPY. I am trying to compile the historical data on the support and resistance levels. I've done it manually for 2008. Any suggestions on a easier way to do this?

Also, I keep on missing my entry points on these breakouts.

Thanks for your help
  • #145,475
  • Dec 3, 2008 3:50am Dec 3, 2008 3:50am
Quoting karmostaji
Lovely day, loads of green pips

Thank you GJ for the bday gifts yesterday n today
while i said we are in a strong downtrend, we had guys finding bullish divergences on every 5 min and calling for 140 levels
  • #145,476
  • Dec 3, 2008 3:51am Dec 3, 2008 3:51am
hi guyz..

I read somewere someone seeing a bullish Div on 1hr and 4 hr?...plz can you post a chart of this ...baby...

I can't see this on my charts...
  • #145,477
  • Dec 3, 2008 3:51am Dec 3, 2008 3:51am
Quoting easyliving
Hi everyone,

I am new to to the board and must admit that I've been lurking and finally decided to post. I've recently started trading the GBPJPY. I am trying to compile the historical data on the support and resistance levels. I've done it manually for 2008. Any suggestions on a easier way to do this?

Also, I keep on missing my entry points on these breakouts.

Thanks for your help
since you are new, take my advice and use just 0.5% of account balance for trades on GJ, its a beast.
  • #145,478
  • Dec 3, 2008 3:55am Dec 3, 2008 3:55am
Daily, showing some support - Hopefully the forming diverg on 1hr will bounce us from here.
Attached Image (click to enlarge)
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  • #145,479
  • Dec 3, 2008 3:59am Dec 3, 2008 3:59am

Well, it's ended???

  • #145,480
  • Dec 3, 2008 4:04am Dec 3, 2008 4:04am
where's it go ?
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