Began year best buy lol 
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #152,582
- Jan 13, 2009 7:20am Jan 13, 2009 7:20am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Close the trade again for -10 pips..I see the PA on GU dropping fast..
I have my TP at 127.40 range on my daily chart..
I am short now for possible 300 pips...
RSX bar is down
TL is trending down..
Trade balance will probably be bad..
DJ is dropping again..
Commentary:
It was a pretty lackluster London session in terms of price action for most of the majors. One of the bigger moves came in Cable on the back of deteriorating UK economic data. The trade deficit widened to a much steeper than expected -£4.5 billion in November from -£3.9 billion the prior month. This had GBP/USD on the ropes for most of the session and the pair ended about -85 pips lower near the 1.4580/90 zone. EUR/USD was unchanged overall in London and sitting near the 1.3280 area just ahead of the NY session. The sharp declines in overseas equity marts, meanwhile, meant little for the yen crosses as USD/JPY was steady at 89.20/30 while EUR/JPY held near the 118.50/60 zone. The market now looks poised for more risk aversion on dovish comments from Fed Chairman Bernanke who said that the proposed massive US fiscal stimulus alone will not spur a lasting rebound. We expect a rebound in bonds and commensurate decline in equities to keep the yen crosses heavy in NY trading.
I have my TP at 127.40 range on my daily chart..
I am short now for possible 300 pips...
RSX bar is down
TL is trending down..
Trade balance will probably be bad..
DJ is dropping again..
Commentary:
It was a pretty lackluster London session in terms of price action for most of the majors. One of the bigger moves came in Cable on the back of deteriorating UK economic data. The trade deficit widened to a much steeper than expected -£4.5 billion in November from -£3.9 billion the prior month. This had GBP/USD on the ropes for most of the session and the pair ended about -85 pips lower near the 1.4580/90 zone. EUR/USD was unchanged overall in London and sitting near the 1.3280 area just ahead of the NY session. The sharp declines in overseas equity marts, meanwhile, meant little for the yen crosses as USD/JPY was steady at 89.20/30 while EUR/JPY held near the 118.50/60 zone. The market now looks poised for more risk aversion on dovish comments from Fed Chairman Bernanke who said that the proposed massive US fiscal stimulus alone will not spur a lasting rebound. We expect a rebound in bonds and commensurate decline in equities to keep the yen crosses heavy in NY trading.
Here I go again for another long with SL below the low...
Three pin bars 15min GJ
DJ is recoverying
oil dropping..
Come on GJ go up first...
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- #152,583
- Jan 13, 2009 7:21am Jan 13, 2009 7:21am
- Joined Oct 2007 | Status: Counter Trend, but not always! | 2,147 Posts
Here I go again for another long with SL below the low...
Three pin bars 15min GJ
DJ is recoverying
oil dropping..
Come on GJ go up first...
Discipline + Patience - Fear - Greed = Success
- #152,585
- Jan 13, 2009 7:33am Jan 13, 2009 7:33am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Dam... I close out again..LOL..I will take another long now that I see the trade balance improve...
Long again...crazy PA....UJ is awake now....
Long again...crazy PA....UJ is awake now....
Close the trade again for -10 pips..I see the PA on GU dropping fast..
I have my TP at 127.40 range on my daily chart..
I am short now for possible 300 pips...
RSX bar is down
TL is trending down..
Trade balance will probably be bad..
DJ is dropping again..
Commentary:
It was a pretty lackluster London session in terms of price action for most of the majors. One of the bigger moves came in Cable on the back of deteriorating UK economic data. The trade deficit widened to a much steeper than expected -£4.5 billion...
[
- #152,586
- Jan 13, 2009 7:38am Jan 13, 2009 7:38am
- Joined Oct 2007 | Status: Saudi Arabia/Dubai | 3,584 Posts
- #152,587
- Jan 13, 2009 7:42am Jan 13, 2009 7:42am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
My first target after three attempts with -25 pips lose trying to figure out this PA...LOL.. Stupid me force trading today...
The fake breakout to take out the low from Dec.'08 is what fool me to take the one short trade...Ben also added confusion about the stimulus package will not be enough to create more confusion...
I managed to increased another long position..
TP1 133.55 area near the 50ema..
If the rally continues, than 200ema 135.40 range..
I will probably short(134.50) near the 200ema on the hourly chart.
The TL is broken
IMHO..
The fake breakout to take out the low from Dec.'08 is what fool me to take the one short trade...Ben also added confusion about the stimulus package will not be enough to create more confusion...
I managed to increased another long position..
TP1 133.55 area near the 50ema..
If the rally continues, than 200ema 135.40 range..
I will probably short(134.50) near the 200ema on the hourly chart.
The TL is broken
IMHO..
[
- #152,589
- Jan 13, 2009 7:51am Jan 13, 2009 7:51am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Began year best buy lol
Long since 129.77 and now +105 pips lol
- #152,590
- Jan 13, 2009 7:52am Jan 13, 2009 7:52am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Good call..I need to focus more on this divergence...LOL..
You are on the right track...
You are on the right track...
sorry for the many ?s ,i feel the only way to learn is to ask ?s....one would understand better.....hope u pros cld shed some light here...is dis a classic bullish building?
[
- #152,591
- Jan 13, 2009 7:53am Jan 13, 2009 7:53am
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Good trade.. I need to stop focusing on the fundamentals and look at the charts for divergence...
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- #152,593
- Jan 13, 2009 7:58am Jan 13, 2009 7:58am
- Joined Oct 2007 | Status: Saudi Arabia/Dubai | 3,584 Posts
- #152,594
- Jan 13, 2009 7:58am Jan 13, 2009 7:58am
- | Commercial User | Joined Oct 2008 | 5,712 Posts
Good trade.. I need to stop focusing on the fundamentals and look at the charts for divergence...
I just follow as what I learn from both of you...and look it may turn down @ TL130 back...I was close with +97 pips..miss 3 pips lol.....so I scalp right now....
- #152,595
- Jan 13, 2009 8:10am Jan 13, 2009 8:10am
Good call..I need to focus more on this divergence...LOL..
You are on the right track...
Simplicity is the key to success
- #152,599
- Jan 13, 2009 8:40am Jan 13, 2009 8:40am
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
Money & Pain
Respect the market, protect your capital, be patient