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

  • #145,961
  • Dec 4, 2008 3:30am Dec 4, 2008 3:30am
Quoting forter
How did you know it was bottom?
It may not be the bottom but 1hr S2 was located at 133.98 where it bounced hard just above it back above daily S2 @ 134.51. . . price was a bit OS for the moment so a bounce was forthcoming. . . Now we may see it drift back down to those levels or at least rest at daily s2 for the moment. . .
  • #145,962
  • Dec 4, 2008 3:30am Dec 4, 2008 3:30am
134.55 on the table now
  • #145,963
  • Dec 4, 2008 3:33am Dec 4, 2008 3:33am
GM. I hope everybody caught this easy short of the descending 30m UTL in confluence with DP and 138 sweetspot. Yesterday i had a short from the same price but was stopped out @ b/e + 2 because of the bad dadastream on my fxpro live account . Today i open WHC mt4 and i see miracles, and such pips was just a damn shame to miss. Super tight stop and nearly 400 pips profit in the bag. Congratulations who caught this drop. Lovely work
  • #145,964
  • Dec 4, 2008 3:34am Dec 4, 2008 3:34am
The poor Halifax data -2.6 vs forecast -1.0 gave a spike down to new lows in cable. However, the 15 min candle with the spike low was on a very high volume doji that was also heavily oversold.

UJ also came off a little, allowing GJ 15 min to have a high vol spinning top low candle.

So now for a retrace - the fibos of the last leg down from the 137.40 high are: 38% 135.35; 50% 135.74 & 61% 136.13....

This last leg down was ~300 pips in GU and ~325 in GJ

Time for a break......
Trading Levels with WRBs
  • #145,965
  • Dec 4, 2008 3:34am Dec 4, 2008 3:34am
Quoting jon clogger
Everyone cashing in on pips here reminds me of that Snoop Doggy song... "ain't no fun if my homies can't have none..."

Course Snoop wasn't talkin' bout pips, but you get the idea. Plenty for all.
whatcha' u talking bout Willis???
  • #145,966
  • Dec 4, 2008 3:38am Dec 4, 2008 3:38am
Quoting Scalper
Just think it was a year and a bit I/we were putting in long orders at 149~150.

It is kind of scary way down here. Just think what a cool opportunity it will be to buy toilet paper at 100~120 and let it ride a few years!

Important to keep your account clean so you have the chance to load up when we do establish a bottom for the long haul. Keep in mind that this area is low, but there is still room to drop. As you can see, geppy is full of surprises and it is easy to get caught in the situation where you think this is as low as it will go......
yep, been there more than once and again now I have 2 longs under water from 245 and 242 (though there are small enough not endanger my account) with a short hedge in place @ 238 (My previous sell orders did miss spikes up by few pips). The key to staying safe is not to be tempted to close the protective position at a perceived bottom! This position's only purpose must be to protect equity and any attempt to look at it as a winning trade with the temptation to close it out with a big profit is likely to lead to desaster! In my case I will not unload until I get a strong reversal signal on the 4h chart at least, I may even let price go past it first and then close it when price retests the area on its way higher. If you want to benefit from down movement open new shorts at opportune moments but leave the hedge alone!
Consistency and patience is everything
  • #145,967
  • Dec 4, 2008 3:38am Dec 4, 2008 3:38am
morning pips

I have that awful feeling in my stomach...

I think the big boys will just kill this toilet paper to 129 then bounce it hard (reverve phycology?)..maybe...maybe...but hey i'm holding on to my shorts...until i get stopped out..baby
  • #145,968
  • Dec 4, 2008 3:40am Dec 4, 2008 3:40am
Quoting quecee5
whatcha' u talking bout Willis???
Apparently we are the same age and I'll go out on a limb and guess you watched the Dukes of Hazzard which aired right after Different Strokes. Good times friend. Don't know what the hell happened since then.

Anyways, I ran into that guy at the Del Amo mall in SoCal. He was a security guard - I couldn't believe it.

Not the most intimidating fellow, but liked to chat with the honeys.
What's that smell?
  • #145,969
  • Dec 4, 2008 3:42am Dec 4, 2008 3:42am
Quoting jon clogger
Apparently we are the same age and I'll go out on a limb and guess you watched the Dukes of Hazzard which aired right after Different Strokes. Good times friend. Don't know what the hell happened since then.

Anyways, I ran into that guy at the Del Amo mall in SoCal. He was a security guard - I couldn't believe it.

Not the most intimidating fellow, but liked to chat with the honeys.
You have me pegged. . . He went through some hard times with the drug addiction so it does not surprise me at all. . .
  • #145,970
  • Dec 4, 2008 3:44am Dec 4, 2008 3:44am
Quoting lilmoe
morning everyone....
good morning lilmoe fontu and the gang
  • #145,971
  • Dec 4, 2008 3:45am Dec 4, 2008 3:45am
Quoting Geldmeister
yep, been there more than once and again now I have 2 longs under water from 245 and 242 (though there are small enough not endanger my account) with a short hedge in place @ 238 (My previous sell orders did miss spikes up by few pips)....
wht do u even still keep them u already have many ways to close them in profit like close short at first bottom 139 and then longs at 160 and u r out profit
man going to 250 again ll take years
  • #145,972
  • Dec 4, 2008 3:45am Dec 4, 2008 3:45am
hey lilmoe! how are you?

i froze again lol. got out with $250 profit. watched 200pips go down gasping


BIG move monday as in down or up?

Quoting lilmoe
if we don't get any lower today/tomorrow, the BIG move will be monday...
  • #145,973
  • Dec 4, 2008 3:48am Dec 4, 2008 3:48am
Quoting xoiper
134.55 on the table now
visit 134.60 while i was typing
  • #145,974
  • Dec 4, 2008 3:49am Dec 4, 2008 3:49am
Quoting Serendipity
hey lilmoe! how are you?

i froze again lol. got out with $250 profit. watched 200pips go down gasping


BIG move monday as in down or up?
down of course, lol. we broke major support levels, and all the TLs i have on the chart

was really easy catching the top today (didn't take it though, lol, i added another short at the last pullback to m5 50ema), and just as predicted, we made a new low today
  • #145,975
  • Dec 4, 2008 3:51am Dec 4, 2008 3:51am
Quoting quecee5
You have me pegged. . . He went through some hard times with the drug addiction so it does not surprise me at all. . .
Child star auditions are pretty straight forward with the parents: Can your kid remember his script? Good. Does he smoke crack? Okay, you're hired.
What's that smell?
  • #145,976
  • Dec 4, 2008 3:53am Dec 4, 2008 3:53am
Quoting jon clogger
Child star auditions are pretty straight forward with the parents: Can your kid remember his script? Good. Does he smoke crack? Okay, you're hired.
= stop it. . .
  • #145,977
  • Dec 4, 2008 3:55am Dec 4, 2008 3:55am
Quoting jon clogger
Child star auditions are pretty straight forward with the parents: Can your kid remember his script? Good. Does he smoke crack? Okay, you're hired.
lol
  • #145,978
  • Dec 4, 2008 3:56am Dec 4, 2008 3:56am
looks like we ll see low when 1h candle close or ll visit 135.60
  • #145,979
  • Dec 4, 2008 3:56am Dec 4, 2008 3:56am
I have had enough for now. . .

We may sit and range until NY gets in. . its 4am where I'm at so I gotta get some sleep before the rate announcement. . . not good to trade when tired!

Cheers all!
  • #145,980
  • Dec 4, 2008 3:58am Dec 4, 2008 3:58am
See you in NY Quecee.
What's that smell?
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