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

  • #153,581
  • Jan 16, 2009 9:38am Jan 16, 2009 9:38am
Seems like GJ is caught between UJ and GU... being pulled up and down at the same time....
  • #153,582
  • Jan 16, 2009 9:39am Jan 16, 2009 9:39am
closed my short with EU after I saw bounce off +Fib 38.2 off daily pivot for 108 pips.

Those Fib ratios off pivot level are very precise. Market stops at those levels most of times almost to the pip. They are much more precise with GJ compared to other pairs.
Discipline + Patience - Fear - Greed = Success
  • #153,583
  • Jan 16, 2009 9:40am Jan 16, 2009 9:40am
Quoting marcb
the fib from 129.09 to 135.70 gives as possible retracements
23.6% 134.16
38.2% 133.16
.......
Price bounced off 23.6% (134.16)
let's see now ...
  • #153,584
  • Jan 16, 2009 9:43am Jan 16, 2009 9:43am
GJ bounced off 15M 50EMA .. I'm small long at 134.40 ... stop moved to b/e

I entered after I saw a doji with very thin vol followed by a nice strong up bar (5M chart) targeting 135.30 (+Fib 150)
Discipline + Patience - Fear - Greed = Success
  • #153,585
  • Jan 16, 2009 9:47am Jan 16, 2009 9:47am
Quoting marcb
Price bounced off 23.6% (134.16)
let's see now ...
pull up 10m chart and look what u find to the left. area of congestion and price now closed only a few pips away from the last wide spread up bar into that area. also precisely on top of a price flip zone. looking for such areas instead of mathemathical values(not offending FIB, beware) increases the probabilities of being right.
  • #153,586
  • Jan 16, 2009 9:47am Jan 16, 2009 9:47am
Aerezab those fib ratios which time frame do they work best in?
  • #153,587
  • Jan 16, 2009 9:51am Jan 16, 2009 9:51am
Quoting arezab
GJ bounced off 15M 50EMA .. I'm small long at 134.40 ... stop moved to b/e

I entered after I saw a doji with very thin vol followed by a nice strong up bar (5M chart) targeting 135.30 (+Fib 150)

GJ bounced of the 50ema now we go DOWN

http://www.forexfactory.com/showthre...=1#post2474349
  • #153,588
  • Jan 16, 2009 9:51am Jan 16, 2009 9:51am
Quoting vinesh2
Aerezab those fib ratios which time frame do they work best in?
I use them on 5M chart coz sometimes they get so close to each other (in range market) that reading them is difficult. The distance between Fib ratios remains steady in all time frames ... won't change switching between time frames. They are fib ratios off daily pivot.
Discipline + Patience - Fear - Greed = Success
  • #153,589
  • Jan 16, 2009 9:56am Jan 16, 2009 9:56am
Quoting Piters
GJ bounced of the 50ema now we go DOWN

http://www.forexfactory.com/showthre...=1#post2474349
yeah right ... me stopped out with my long for +1 ... I should have entered short after bearish engulfing (bounce off 50 EMA 5M chart) ... missed the entry.

It was nice 30 - 40 pips easy scalp.
Discipline + Patience - Fear - Greed = Success
  • #153,590
  • Jan 16, 2009 10:07am Jan 16, 2009 10:07am
Oil is falling sharply ... DJ and S&P show weakness tending to start fall ...
Discipline + Patience - Fear - Greed = Success
  • #153,591
  • Jan 16, 2009 10:12am Jan 16, 2009 10:12am
after blowing my acc twice, back to demo trading....i keep on changing my indicators,TF and method of trading to the point that i end up confused.this newbie after about a yr of trading inconsistently is confused.wat am i doing wrong or wat am i nnot doing right
i dnt quit easily but its getting rather frustrating, need serious HELP!!!
Simplicity is the key to success
  • #153,592
  • Jan 16, 2009 10:14am Jan 16, 2009 10:14am
Quoting arezab
Oil is falling sharply ... DJ and S&P show weakness tending to start fall ...
not trusting futures action. waiting to revisit 838 on s&p and i expect we could sharply spring from there.
  • #153,593
  • Jan 16, 2009 10:15am Jan 16, 2009 10:15am
Quoting squeezy
after blowing my acc twice, back to demo trading....i keep on changing my indicators,TF and method of trading to the point that i end up confused.this newbie after about a yr of trading inconsistently is confused.wat am i doing wrong or wat am i nnot doing right
i dnt quit easily but its getting rather frustrating, need serious HELP!!!
if you dont mind which lot size are you trading and how much balance you started with before blowing the account twice??
  • #153,594
  • Jan 16, 2009 10:16am Jan 16, 2009 10:16am
Quoting squeezy
after blowing my acc twice, back to demo trading....i keep on changing my indicators,TF and method of trading to the point that i end up confused.this newbie after about a yr of trading inconsistently is confused.wat am i doing wrong or wat am i nnot doing right
i dnt quit easily but its getting rather frustrating, need serious HELP!!!
- u stick to bad habits
- u continuosly switch the system which will everybody let fail

-check james16 price action thread!
  • #153,595
  • Jan 16, 2009 10:17am Jan 16, 2009 10:17am
Quoting squeezy
after blowing my acc twice, back to demo trading....i keep on changing my indicators,TF and method of trading to the point that i end up confused.this newbie after about a yr of trading inconsistently is confused.wat am i doing wrong or wat am i nnot doing right
i dnt quit easily but its getting rather frustrating, need serious HELP!!!
The path starts from demoing first and then trying to trade live ... not vice versa
Discipline + Patience - Fear - Greed = Success
  • #153,596
  • Jan 16, 2009 10:24am Jan 16, 2009 10:24am
Quoting Dr.Geppynius
not trusting futures action. waiting to revisit 838 on s&p and i expect we could sharply spring from there.

where would this leave g/j?
  • #153,597
  • Jan 16, 2009 10:24am Jan 16, 2009 10:24am
let's see how it works.
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  • #153,598
  • Jan 16, 2009 10:26am Jan 16, 2009 10:26am
i'm showing approximately 132.60?

what do you think Dr Geppy?
  • #153,599
  • Jan 16, 2009 10:30am Jan 16, 2009 10:30am
@ geppypips.....i started wit 1000 on 1 standard lot size
@ dr. G ,thnx ....going to go thru james 16 thread now
@ arezab, i actually demo traded 1st before going in live
Simplicity is the key to success
  • #153,600
  • Jan 16, 2009 10:34am Jan 16, 2009 10:34am
Quoting squeezy
@ geppypips.....i started wit 1000 on 1 standard lot size
@ dr. G ,thnx ....going to go thru james 16 thread now
@ arezab, i actually demo traded 1st before going in live
u mean u had a $1,000 account and u traded 1 standard lot (10 mini lots)? If that is correct i see how u blew your account. I would recommend starting with micro lots with no more than 5% risk until u get the hang of it. This is not a get rich quick scheme my friend.
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