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

  • #157,841
  • Feb 3, 2009 9:48pm Feb 3, 2009 9:48pm
Quoting Eulogy
That doesn't seem to be a good R/R you're recommending there. FXlion, can you please explain the motivation for this call or was the SL a typo?
The rooster is priceless
  • #157,842
  • Feb 3, 2009 9:54pm Feb 3, 2009 9:54pm
Quoting forexlion
SL is entirely the wish of the trader on what he wants to keep it at.

Refer to this chart and decide what you would keep as SL

We have strong support at 128.94, so a good SL could be 30 pips below it.
? ok now i'm confused. you said 127.70, now 30 pips below 128.94

you sure its not a typo?
  • #157,843
  • Feb 3, 2009 9:57pm Feb 3, 2009 9:57pm
Quoting forexlion
The rooster is priceless
you said you were gonna do a update on your indicator. you tweaked it already?
  • #157,844
  • Feb 3, 2009 10:14pm Feb 3, 2009 10:14pm
Quoting hwsv07
you said you were gonna do a update on your indicator. you tweaked it already?
yes

http://www.forexfactory.com/showthread.php?t=150605
  • #157,845
  • Feb 3, 2009 10:25pm Feb 3, 2009 10:25pm
.
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  • #157,846
  • Feb 3, 2009 10:27pm Feb 3, 2009 10:27pm
Quoting forexlion
GJ now has a confirmed long target of 130.18 with SL at 127.70
so far it looks nice call fxlion
  • #157,847
  • Feb 3, 2009 10:32pm Feb 3, 2009 10:32pm
Id love some advice...

I have recently been finding myself buying a position right as it crosses a S/R line, only to have it reverse right away. I am guessing this only works in a trending market... do you reverse that strategy when it is ranging... Im just curious. This market has killed me today.
Dr. C
  • #157,848
  • Edited 10:51pm Feb 3, 2009 10:40pm | Edited 10:51pm
Quoting cvcamper
Id love some advice...

I have recently been finding myself buying a position right as it crosses a S/R line, only to have it reverse right away. I am guessing this only works in a trending market... do you reverse that strategy when it is ranging... Im just curious. This market has killed me today.

  1. The price action is crazy, the last few days (weeks), when you see ema 50 on any GBP pair is up and down on almost every bar. then STAY AWAY...
  2. Indicators, Trendline, S/R levels , all those are without any sence. when you see one bar Up 30pips, then next one down 30 pips... STAY AWAY..
  3. The last hour (Dubai session) move UP was durring the very quiet hours, someone pushed the market UP with very LOW volume.. STAY AWAY
  4. This Hour (Russion Session) someone is trying to push the market over the 129.40 the bars are like crazy.. STAY AWAY...
  5. If you are not sure in your position, better STAY AWAY, and wait for your next SETUP
  6. Finaly, check the trading Hours, the best time is Tokyo open, Frankfurt Open, London OPEN, NY open, NYSE open.., 2pm EST, NY close... if you can setup your timing.. then look for some trading

that is my advice

  • #157,849
  • Feb 3, 2009 10:43pm Feb 3, 2009 10:43pm
Quoting cvcamper
Id love some advice...

I have recently been finding myself buying a position right as it crosses a S/R line, only to have it reverse right away. I am guessing this only works in a trending market... do you reverse that strategy when it is ranging... Im just curious. This market has killed me today.
you seem to be over trading buddy, anyway, trading breakouts is dangrous because most of traps were made at S/R levels, however, there's no such strategy works all the time, i suggest that you use different kind of methods in order to decide your entry,

keep a good money management and you'll be fine.
I recommend you read something else as this sentence is now concluded.
  • #157,850
  • Feb 3, 2009 10:56pm Feb 3, 2009 10:56pm
I think this is going down hard with that failed attempt on right shoulder at ~ 129.50. miss by sell limit by 1 pip
  • #157,851
  • Feb 3, 2009 10:57pm Feb 3, 2009 10:57pm
made it to my target, be back after few hours
I recommend you read something else as this sentence is now concluded.
  • #157,852
  • Feb 3, 2009 10:59pm Feb 3, 2009 10:59pm
w00t any thoughts on this HUGE break away off Resistance line?
Dr. C
  • #157,853
  • Feb 3, 2009 11:06pm Feb 3, 2009 11:06pm
Alright, I pulled it all off the table after that 100 pip drop, nice

Edit : I left 1 micro lot at BE+ 50 just in case this is the bounce that gets us back to new lows See you guys in the morning
Dr. C
  • #157,854
  • Feb 3, 2009 11:07pm Feb 3, 2009 11:07pm
Quoting forexlion
.

GBP/JPY seems to be moving lower my friend.
  • #157,855
  • Feb 3, 2009 11:08pm Feb 3, 2009 11:08pm
Piters,

I see it did retest the Upper TL of the triangle and is now heading down. We also had a break and close below the upper short term TL w/divergence on hourly Stochastics.
  • #157,856
  • Feb 3, 2009 11:09pm Feb 3, 2009 11:09pm
Quoting cvcamper
w00t any thoughts on this HUGE break away off Resistance line?
YES, actualy, as i said.. someone choosed the very quiet time and in Dubai and Moscow session to push the price over the fence.. I would say to pass the border without the passport... That moves usually has to be tested on real market when the volume is in..

From the other hand.. all indicators indicated that that move was the BS one.. lot of divergence..(volume, oscilators, ....)

It was only a time, when that move is going to meet the sellers... and that happend exactly on fibo 618 or on 129.40 level.. (please see my chart today I posted with fiboes.)

So that is the storry, that level we never broke even in very strong NY or London sessions, ...

Now next, some bounce of the DPP, then break the DPP, testing 50 ema [1h] and ftesting the 127.70
  • #157,857
  • Feb 3, 2009 11:12pm Feb 3, 2009 11:12pm
Quoting Bren0001
Piters,

I see it did retest the Upper TL of the triangle and is now heading down. We also had a break and close below the upper short term TL w/divergence on hourly Stochastics.

Yes Bren, Now we are going to see which one we play today.. mine or yours..

 

  1. if we bounce from 127.70 and get back, there is a possibility to break to UP SIDE [that is your PLAY]
  2. If we break 127.70 and test 126.70, then there is a posibility to break to down side [mine PLAY]

anyway I am happy with both plays my friend... I knew this UP move was BS one..

  • #157,858
  • Feb 3, 2009 11:13pm Feb 3, 2009 11:13pm
Quoting Piters
Yes Bren, Now we are going to see which one we play today.. mine or yours..

  1. if we bounce from 127.70 and get back, there is a possibility to break to UP SIDE [that is your PLAY]
  2. If we break 127.70 and test 126.70, then there is a posibility to break to down side [mine PLAY]

anyway I am happy with both plays my friend... I knew this UP move was BS one..


Pit .... I like your play ... huge bearish div on rsx on that double top on 60 min

a little bounce off daily pivot here at 128.40 and then down she goes
Blogging daily now at www.volume.zone
  • #157,859
  • Feb 3, 2009 11:19pm Feb 3, 2009 11:19pm
First, my 3000 post

.... thank you guys...
  • #157,860
  • Feb 3, 2009 11:21pm Feb 3, 2009 11:21pm
Quoting malcolmb14
Pit .... I like your play ... huge bearish div on rsx on that double top on 60 min

a little bounce off daily pivot here at 128.40 and then down she goes
lol, that 126.60 is a crack coockie... we need some magic there... lol

maybe if you place some few yeards (km) of GY..
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