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

  • #156,541
  • Jan 28, 2009 11:36am Jan 28, 2009 11:36am
Price made it to a confluence of the daily pivot R2 and a 61.8% retrace level, according to my charts.
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  • #156,542
  • Jan 28, 2009 11:37am Jan 28, 2009 11:37am
Quoting malcolmb14
no chasing .. remember ...

I did not enter long .. instead waited for my chance to get into sell ... as pros sell into strength ...

here was pin bar .. 70 pip off on half and stop +20 other half


NEVER CHASE

Attachment
Very nice!! I decided to just watch for awhile..
  • #156,543
  • Jan 28, 2009 11:39am Jan 28, 2009 11:39am
time to sell bounces for the ride down...lets see how she rolls from here into the close...

edit: might be pre-emptive to say above comment just yet, senate vote for stimulus package will probably direct futures tonight into tomorrow...just a thought
  • #156,544
  • Jan 28, 2009 11:59am Jan 28, 2009 11:59am
If UTL around 1.43 holds, GU will start a channel trending down for a while.
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Discipline + Patience - Fear - Greed = Success
  • #156,545
  • Jan 28, 2009 12:05pm Jan 28, 2009 12:05pm
Quoting fxnoob08
lost 500 dollars last night. : what trading strategies do you guys use? where can i learn about the system that you guys use:

malcomb
kamo
piters

also as the user above me suggested what is the best technical book i can get my hands on.

thanks in advance for any input.

hi if you look over my past posts here you will see some charts and the system i use, it involves low risk high reward trades and as you only have 1 open trade a time good for newbies.

Send me pm if you want any more info after looking at the posts and charts i posted on this thread.
Private Account Manager & Trader since 1999
  • #156,546
  • Jan 28, 2009 12:05pm Jan 28, 2009 12:05pm
Fundamentally,

I am not sure how the FOMC decision should turn around the GJ. Apparently the sudden strengthening of the dollar is because of the

"comment that has gained resonance with dealers is the comment that the Fed would buy longer term treasuries, they feel that as there has been so much focus recently on overseas investors being unwilling to buy the auctions due to concerns over the huge amounts of dollars circulating the global economy, that any news that makes US treasury investments more attractive has to be good for the buck" (According to Thompson Reuteurs)

However, this should be temporary if not sudden correction and should pose as a buying opportunity, especially if the rally in equity markets hold. The bear market in GU was because of GBP problems, not really a strengthening of the dollar. As GBP problems are fading from the limelight, GBP should rise.

Coupled with a strong equity market=strong usd/yen, GJ should go up.

1.42 is the litmus test on the GU. If it breaks below convincingly, or equities turn south i am bailing on my small position. In at 128.59
  • #156,547
  • Jan 28, 2009 12:06pm Jan 28, 2009 12:06pm
Quoting malcolmb14
no chasing .. remember ...

I did not enter long .. instead waited for my chance to get into sell ... as pros sell into strength ...

here was pin bar .. 70 pip off on half and stop +20 other half


NEVER CHASE

Attachment
Malcom, how can we get the RSX indicator?
Dr. C
  • #156,548
  • Jan 28, 2009 12:15pm Jan 28, 2009 12:15pm
Quoting arezab
If UTL around 1.43 holds, GU will start a channel trending down for a while.

id have to agree the utl held as well as the 618 fibo from last major down move...the h4 right now for GU is looking brutal(along with previous 3) my candle will close at 4est today and if it closes at or close to current form i will start to build postitions for the ride back down if everything comes into play...just how i see it right now though
  • #156,549
  • Jan 28, 2009 12:17pm Jan 28, 2009 12:17pm
market manipulation

look at EURNZD. 400+ pip spike in 15 min
  • #156,550
  • Jan 28, 2009 12:17pm Jan 28, 2009 12:17pm
Quoting Eulogy
market manipulation

look at EURNZD. 400+ pip spike in 15 min
NZD cut rates 150bps expected 100bps
  • #156,551
  • Jan 28, 2009 12:18pm Jan 28, 2009 12:18pm
Quoting Eulogy
market manipulation

look at EURNZD. 400+ pip spike in 15 min
Nothing special with that pair. Moves most of times that much.
Discipline + Patience - Fear - Greed = Success
  • #156,552
  • Jan 28, 2009 12:21pm Jan 28, 2009 12:21pm
Quoting pasha_02
Fundamentally,

I am not sure how the FOMC decision should turn around the GJ. Apparently the sudden strengthening of the dollar is because of the

"comment that has gained resonance with dealers is the comment that the Fed would buy longer term treasuries, they feel that as there has been so much focus recently on overseas investors being unwilling to buy the auctions due to concerns over the huge amounts of dollars circulating the global economy, that any news that makes US treasury investments more attractive has to be good for the buck" (According...
And im out with a 30 pip loss....GU broke 1.42 and equity markets dont look too promising
  • #156,553
  • Jan 28, 2009 12:28pm Jan 28, 2009 12:28pm
i DONT believe this. the market is out to get me...lol

had a sold at 128.80, stop loss 129.80

it went right to 129.67 + 13p spread to hit my stop loss...oh COME ON!!!! lol
  • #156,554
  • Jan 28, 2009 12:30pm Jan 28, 2009 12:30pm
Is this a confirmed break trend line?????
Dr. C
  • #156,555
  • Jan 28, 2009 12:31pm Jan 28, 2009 12:31pm

  1. Pound DID broke that Rising Wedge, and currently is on way to test 50ema [1H] at 1.4156 ( possible pullback up to 1.42690) depends of PA we can re-short from there
  2. GY is breaking NOW, becouse of strong Dollar, but we have to clear Gann 1H at 127.80 before we short GY
  3. MY POST 6H ago: http://www.forexfactory.com/showpost...stcount=156441

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  • #156,556
  • Jan 28, 2009 12:36pm Jan 28, 2009 12:36pm
Malcomb . . . sent you a pm bro . . .
"Don't trade to trade . . . trade to win." - James16
  • #156,557
  • Jan 28, 2009 12:37pm Jan 28, 2009 12:37pm
Quoting mirex
i DONT believe this. the market is out to get me...lol

had a sold at 128.80, stop loss 129.80

it went right to 129.67 + 13p spread to hit my stop loss...oh COME ON!!!! lol

that sucks big time
Blogging daily now at www.volume.zone
  • #156,558
  • Jan 28, 2009 12:40pm Jan 28, 2009 12:40pm
Can I ask what signals you guys are waiting on to short?
Dr. C
  • #156,559
  • Jan 28, 2009 12:42pm Jan 28, 2009 12:42pm
Quoting malcolmb14
that sucks big time
Hey Malc do u have that spreedsheet calulator for 50 pips a day ...I lost all my data due to a crash. Also looking for the gann hilo

txs
  • #156,560
  • Jan 28, 2009 12:44pm Jan 28, 2009 12:44pm
Quoting mirex
i DONT believe this. the market is out to get me...lol

had a sold at 128.80, stop loss 129.80

it went right to 129.67 + 13p spread to hit my stop loss...oh COME ON!!!! lol
Why you don't use smaller TFs to see what is going on in market with higher precision. If you keep an eye on 5M it won't happen, you can close it much earlier when you see price action is playing against you.

JMHO
Discipline + Patience - Fear - Greed = Success
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