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

  • #152,141
  • Jan 9, 2009 7:45am Jan 9, 2009 7:45am
Short order @ 138.78....
  • #152,142
  • Jan 9, 2009 7:49am Jan 9, 2009 7:49am
Anybody care to explain why even thought the US data were bad the USD is going up?
Not only against the ueuro but also against the CHF that it's considered to the be the currency equivalnt of gold in this bad economic times
  • #152,143
  • Jan 9, 2009 7:57am Jan 9, 2009 7:57am
it doesn't matter how good or bad the news are. what matters is what market makers are doing, so try to understand their thinking - the herd MUST lose.
ignore the news. move to larger timeframes. use logic and patience.

Quoting marcb
Anybody care to explain why even thought the US data were bad the USD is going up?
Not only against the ueuro but also against the CHF that it's considered to the be the currency equivalnt of gold in this bad economic times
Nihil Sine Deo.
  • #152,144
  • Jan 9, 2009 8:03am Jan 9, 2009 8:03am
Quoting Scrat
it doesn't matter how good or bad the news are. what matters is what market makers are doing, so try to understand their thinking - the herd MUST lose.
ignore the news. move to larger timeframes. use logic and patience.

Hi Scrat

What timeframes would recommend watching as I'm watching 5 min with1 hour and day charts to watch the bigger picture

Cheers
  • #152,145
  • Jan 9, 2009 8:03am Jan 9, 2009 8:03am
Quoting Scrat
it doesn't matter how good or bad the news are. what matters is what market makers are doing, so try to understand their thinking - the herd MUST lose.
ignore the news. move to larger timeframes. use logic and patience.
word.
"Don't trade to trade . . . trade to win." - James16
  • #152,146
  • Jan 9, 2009 8:06am Jan 9, 2009 8:06am
Quoting marcb
Anybody care to explain why even thought the US data were bad the USD is going up?
Not only against the ueuro but also against the CHF that it's considered to the be the currency equivalnt of gold in this bad economic times

well that is simple ...and i expected this


the adp was really bad ....

so likely most were expected NFP to be 800,000 and not as expected.

when NFP came out as expected .. the news was bad ... BUT NOT AS BAD AS EXPECTED. So the usd got stronger .. in fact DX broke its daily pivot
Blogging daily now at www.volume.zone
  • #152,147
  • Jan 9, 2009 8:15am Jan 9, 2009 8:15am
Quoting Scrat
it doesn't matter how good or bad the news are. what matters is what market makers are doing, so try to understand their thinking - the herd MUST lose.
ignore the news. move to larger timeframes. use logic and patience.
Too bad am learning this lesson the hard way
  • #152,148
  • Jan 9, 2009 8:19am Jan 9, 2009 8:19am
Thank you guys for your feedback!
  • #152,149
  • Jan 9, 2009 8:19am Jan 9, 2009 8:19am
Quoting malcolmb14
well that is simple ...and i expected this


the adp was really bad ....

so likely most were expected NFP to be 800,000 and not as expected.

when NFP came out as expected .. the news was bad ... BUT NOT AS BAD AS EXPECTED. So the usd got stronger .. in fact DX broke its daily pivot
Do you think we are going back to 1.4x or even lower?
  • #152,150
  • Jan 9, 2009 8:20am Jan 9, 2009 8:20am
Quoting malcolmb14
well that is simple ...and i expected this


the adp was really bad ....

so likely most were expected NFP to be 800,000 and not as expected.

when NFP came out as expected .. the news was bad ... BUT NOT AS BAD AS EXPECTED. So the usd got stronger .. in fact DX broke its daily pivot

i have found that the ADP is always way worse or way better than expected, i just dont py any attention to it
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #152,151
  • Jan 9, 2009 8:21am Jan 9, 2009 8:21am
Quoting sphinx
Do you think we are going back to 1.4x or even lower?

no until we break 1.5000 i am buying dips all way to 1.5500
Blogging daily now at www.volume.zone
  • #152,152
  • Jan 9, 2009 8:25am Jan 9, 2009 8:25am
Good morning all. . .
  • #152,153
  • Jan 9, 2009 8:37am Jan 9, 2009 8:37am
Quoting quecee5
Good morning all. . .
good morning sir
  • #152,154
  • Jan 9, 2009 8:39am Jan 9, 2009 8:39am
Closed short 137.98.
  • #152,155
  • Jan 9, 2009 8:42am Jan 9, 2009 8:42am
Morning Q
  • #152,156
  • Jan 9, 2009 8:43am Jan 9, 2009 8:43am
Hi UKtrader,

Just curious to know if you took the short trade on a break of the 1hr pin bar?

berti
PA is where its at!!
  • #152,157
  • Jan 9, 2009 8:47am Jan 9, 2009 8:47am
Quoting vinesh2
Morning Q

Hope this has been a good week for ya. . .
  • #152,158
  • Jan 9, 2009 8:49am Jan 9, 2009 8:49am
Quoting bertie123
Hi UKtrader,

Just curious to know if you took the short trade on a break of the 1hr pin bar?

berti
You think this one?
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  • #152,159
  • Jan 9, 2009 8:50am Jan 9, 2009 8:50am
Well I have not been doing intraday trading have a couple of long term positions that hopefully materialize next month or so. Just cant seem to find good setups and if I see one it quickly reverses. So just sitting back and not doing anything. Sending you an IM
  • #152,160
  • Jan 9, 2009 8:51am Jan 9, 2009 8:51am
Quoting bertie123
Hi UKtrader,

Just curious to know if you took the short trade on a break of the 1hr pin bar?

berti
I didn't, but guess I could have.
I was looking at the 1m,5m and 15m ema50. Price was crossing lower on all 3 timeframes so I took the view that gravity was in play since the job bounce up fizzled out.

I'll have short bias now for a while, strong support at approx 137.30....
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