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

  • #155,601
  • Jan 25, 2009 9:18pm Jan 25, 2009 9:18pm
Quoting fxnoob08
i got out at .90 now its at .57 sighs
if it goes down to 121.20-30, i would just bite it right there. good place to get out. Your short entry was a bad one. so take minimun lost and wait for a better entry
  • #155,602
  • Jan 25, 2009 9:25pm Jan 25, 2009 9:25pm
Quoting mirex
if it goes down to 121.20-30, i would just bite it right there. good place to get out. Your short entry was a bad one. so take minimun lost and wait for a better entry
got out lost 80 dollars
  • #155,603
  • Jan 25, 2009 9:27pm Jan 25, 2009 9:27pm
Quoting fxnoob08
got out lost 80 dollars
hehe, wait for it. dont chase it

i've lost plenty chasing it..lol
  • #155,604
  • Jan 25, 2009 9:29pm Jan 25, 2009 9:29pm
I know this isn't a GBP/USD or GBP/JPY chart, but this is definitely something to look out for. Bull flag forming on 4 hr charts. Break of bull flag would also mean Gann crossing over. Also, CCI has been staying above -100 and also forming an upward trend. Just my two cents.
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  • #155,605
  • Jan 25, 2009 9:30pm Jan 25, 2009 9:30pm
Quoting mirex
if it goes down to 121.20-30, i would just bite it right there. good place to get out. Your short entry was a bad one. so take minimun lost and wait for a better entry
mate, If I knew, or was sure in GY, i would be in the trade.. now is very hard to tell where she is going. That is why I didnt took any position.. there is a an oppening gap from the weekend, and now as I can see PA is trying to fill that gap. so we may go to 122.60.

Tokyo is on Lunch break.. we can see spike UP or spike DOWN.. I dont like trading GY on Tokyo session, If I had to, I would trade somithing lighter like UY or EY.. For the direction I can only guess @ this moment, but that is only as a gut feeling or crystal ball call.. we need Londond session to realy see the right direction, as with london we can see the right volume and players who moves the market..

I went long on EY, using my scalping suystem on 1min and 5min.. and I am already 50+pips, I am looking to exit on 115.40, or on any bigger retracement..
  • #155,606
  • Jan 25, 2009 9:31pm Jan 25, 2009 9:31pm
PJ is in a chart pattern called a descending broadening wedge. Although I have frequented this thread for quite some time this is my first post and I do not know how to post charts yet. The wedge shows up nicely on the 1 hour timeframe. The technical target on this pattern is considerable. Of course, patterns do fail so I will take a long entry if we close a 1 hour candle above the upper trendline. This should also put us above the hourly Gann, therefore, my stop will be placed below it. Once again, I am sorry I am not able to post charts. If someone is willing to coach me in that I would greatly appreciate it.
  • #155,607
  • Jan 25, 2009 9:37pm Jan 25, 2009 9:37pm
exit 76 pips in Ey @ 115.40

my target #3
  • #155,608
  • Jan 25, 2009 9:38pm Jan 25, 2009 9:38pm
We are getting close boys! Either break of that descending channel or break to the downside the ascending triangle.... either way, YEE HAW
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Dr. C
  • #155,609
  • Jan 25, 2009 9:41pm Jan 25, 2009 9:41pm
Quoting Piters
mate, If I knew, or was sure in GY, i would be in the trade.. now is very hard to tell where she is going. That is why I didnt took any position.. there is a an oppening gap from the weekend, and now as I can see PA is trying to fill that gap. so we may go to 122.60.

.
For medium Term target I know.....around 155 (Fibo 38.2) or 178.80 (Fibo 61.8) or may be 142.20 (Fibo 23.6). When it will go there only times could tell us.
  • #155,610
  • Jan 25, 2009 9:51pm Jan 25, 2009 9:51pm
Quoting fxnoob08
got out lost 80 dollars
good job....learn to cut losses fast.
then WAIT and look for a new entry.
--post hoc ergo propter hoc--
  • #155,611
  • Jan 25, 2009 9:57pm Jan 25, 2009 9:57pm
Quoting PandoraBox
For medium Term target I know.....around 155 (Fibo 38.2) or 178.80 (Fibo 61.8) or may be 142.20 (Fibo 23.6). When it will go there only times could tell us.
lol, yes bro..
medium term we are due a nice retracement... but when you look at daily you can see that we are rounding our BOTTOM, and still we are far form the bottom.. So im my oppinian, all retracements are very short term..

I posted a chart before NewYear... regards rounding the bottom.. as short term, Q posted a nice chart 2 days ago. and I agree, retesting the 4H gann, before anything..

I'll maybe post my short term view on GY after london.

Cheers bro!
  • #155,612
  • Jan 25, 2009 9:57pm Jan 25, 2009 9:57pm
Quoting Monk
good job....learn to cut losses fast.
then WAIT and look for a new entry.
yes, but cut loss, take a step back, breath..then look and wait for confirmation. lol don't just jump all over the place, you'll end up chasing price and make bad judgement
  • #155,613
  • Jan 25, 2009 10:21pm Jan 25, 2009 10:21pm
woah, that 4hr gann look awfully close, lol
  • #155,614
  • Jan 25, 2009 10:22pm Jan 25, 2009 10:22pm
Quoting PandoraBox
For medium Term target I know.....around 155 (Fibo 38.2) or 178.80 (Fibo 61.8) or may be 142.20 (Fibo 23.6). When it will go there only times could tell us.
huh .. not two digits ..
  • #155,615
  • Jan 25, 2009 10:58pm Jan 25, 2009 10:58pm
oh come on.....50 pips in 30 second drop.....what the hell

can someone please explain to me how such a big drop happens??

I mean....we are trending up....is it that some large bank just sold 10,000 lots??
what causes this?
--post hoc ergo propter hoc--
  • #155,616
  • Jan 25, 2009 10:59pm Jan 25, 2009 10:59pm
Quoting cohiba pips
mate imo you caught the bottom for a few days well played but what a

shame im looking at 124 now

there will always be retracements .. on a 5min .. just got to look for when to get in
Blogging daily now at www.volume.zone
  • #155,617
  • Jan 25, 2009 11:03pm Jan 25, 2009 11:03pm
Quoting malcolmb14
there will always be retracements .. on a 5min .. just got to look for when to get in
you party popper you should be having fun

i know !!!!
  • #155,618
  • Jan 25, 2009 11:08pm Jan 25, 2009 11:08pm
Quoting fxnoob08
thank you. i went short on the gbp/jpy at 120.83 when the market opened and im now -70 pips (1$ per pip) at 121.51 - im thinking of getting out of the trade but im sure it has to come down again.. and im sure as soon as i get out will come plunging down lol. it always does

help!!!
suggestion ... you went short when market opened , so I am assuming that was before drop to 119.65 .

I f that was the case , when you have profit of 50 pip or more move stop to break even . If the market moves against you you have mot lost anything


now you are down 100 pips. we have a treble bottom .... and gj may well break the top of the descending triangle at 122.5.

Let the losers go quickly and let the winners run .... that more than any fancy strategy will keep you in this game , being a profitable trader for years to come
Blogging daily now at www.volume.zone
  • #155,619
  • Jan 25, 2009 11:10pm Jan 25, 2009 11:10pm
Quoting malcolmb14
there will always be retracements .. on a 5min .. just got to look for when to get in
back already? are you drunk?
  • #155,620
  • Jan 25, 2009 11:11pm Jan 25, 2009 11:11pm
whats that google logo all about is it the year of the bull or ram

could be a sign guys
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