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

  • #158,541
  • Feb 6, 2009 11:02am Feb 6, 2009 11:02am
Quoting bigcoupe
Let me just get something off my chest.

If you're losing pips right now, you're not practising wise technical trading.

The trend right now is obvious. If you're trying to catch the top, good luck! Ride the trend and take profits while you're riding it.

Nuff said.
Rinse and repeat
Money & Pain Respect the market, protect your capital, be patient
  • #158,542
  • Feb 6, 2009 11:06am Feb 6, 2009 11:06am
Yellow line need to be kiss again..hehe Perhaps next week
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  • #158,543
  • Feb 6, 2009 11:06am Feb 6, 2009 11:06am
Quoting bigcoupe
Let me just get something off my chest.

If you're losing pips right now, you're not practising wise technical trading.

The trend right now is obvious. If you're trying to catch the top, good luck! Ride the trend and take profits while you're riding it.

Nuff said.
what do u think of riding the trend with gu as a hedge. though i think its a bit late. ur take?
  • #158,544
  • Feb 6, 2009 11:07am Feb 6, 2009 11:07am
Quoting dialpips
thanks man.
i was actually thinking i should take short from the 50ema daily as a possible hedge. what do u think? thanks.

what the hell are you saying man
  • #158,545
  • Feb 6, 2009 11:09am Feb 6, 2009 11:09am
FYI 136.1 is a 61.8 retrace of the last down leg...hmmmmmm
Money & Pain Respect the market, protect your capital, be patient
  • #158,546
  • Feb 6, 2009 11:22am Feb 6, 2009 11:22am
Ok, we are right on the top... any breakout to upside (can happend) is wrong, strange, and probably manipulated...

I would be looking for a pull back at most for few hundred pips, probably 131.50 till 129.20 area... before we go furher up.

this is not a call, only my personal view.. i will enter, after some confirmation
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  • #158,547
  • Feb 6, 2009 11:23am Feb 6, 2009 11:23am
Quoting dialpips
what do u think of riding the trend with gu as a hedge. though i think its a bit late. ur take?

I personally don't believe in hedging G/J with GU or UJ. If you think about it, you're basically hedging with half the pair. That doesnt make sence to me. I personally like to hedge with eur/gbp

Just my 2 pips.
  • #158,548
  • Feb 6, 2009 11:25am Feb 6, 2009 11:25am
Quoting Piters
Ok, we are right on the top... any breakout to upside (can happend) is wrong, strange, and probably manipulated...
Money & Pain Respect the market, protect your capital, be patient
  • #158,549
  • Feb 6, 2009 11:29am Feb 6, 2009 11:29am
Quoting toyboy tramp
lol, there is a reason why i said that:

every touch of 4h trendline is followed with 100-300pips drop, every touch of daily 50 ema - even more... we need few testings (few daily bars) to break that.. that is TA according some "normal" PA.. but we are not normal right now, and we could see a gap on monday @ 251.00 level..
  • #158,550
  • Feb 6, 2009 11:39am Feb 6, 2009 11:39am
Quoting Piters
Ok, we are right on the top... any breakout to upside (can happend) is wrong, strange, and probably manipulated...

I would be looking for a pull back at most for few hundred pips, probably 131.50 till 129.20 area... before we go furher up.

this is not a call, only my personal view.. i will enter, after some confirmation
great chart and reasoning. there is bearish div. in 5m, 15m, 1hr. so expect a fall anytime now.
  • #158,551
  • Feb 6, 2009 11:43am Feb 6, 2009 11:43am
We are near the weekly Gann and QQE about to cross
That's strange
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #158,552
  • Edited 12:10pm Feb 6, 2009 11:58am | Edited 12:10pm
Monthly need to closed above 134.20 - Then we might see Bullish Engulfing Pattern. First bull candle since Aug 2008. It is reversal pattern.
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  • #158,553
  • Feb 6, 2009 12:23pm Feb 6, 2009 12:23pm
Hi all! Interesting week. I see the daily R1 at 136.39. Let's see if price respects that. It seems to be plowing through everything else . . .
  • #158,554
  • Feb 6, 2009 12:28pm Feb 6, 2009 12:28pm
Quoting Piters
Ok, we are right on the top... any breakout to upside (can happend) is wrong, strange, and probably manipulated...

I would be looking for a pull back at most for few hundred pips, probably 131.50 till 129.20 area... before we go furher up.

this is not a call, only my personal view.. i will enter, after some confirmation

from volume and 60 min bear div on rsx ... you may be right on that one. ....but i think we may see test 137 today ...seems to be edging that way
Blogging daily now at www.volume.zone
  • #158,555
  • Feb 6, 2009 12:31pm Feb 6, 2009 12:31pm
Quoting Piters
lol, there is a reason why i said that:

every touch of 4h trendline is followed with 100-300pips drop, every touch of daily 50 ema - even more... we need few testings (few daily bars) to break that.. that is TA according some "normal" PA.. but we are not normal right now, and we could see a gap on monday @ 251.00 level..
this puppy is moving brother. i'm just waitng for profit takers to cash out for weekend. should get descrnt drop. if not c u guys monday
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #158,556
  • Feb 6, 2009 12:33pm Feb 6, 2009 12:33pm
Quoting malcolmb14
from volume and 60 min bear div on rsx ... you may be right on that one. ....but i think we may see test 137 today ...seems to be edging that way
yes mate... that is the problem.. friday closing NY.. and BS run.. where can stop... maybe 251.14

I am aside for now..
  • #158,557
  • Feb 6, 2009 12:34pm Feb 6, 2009 12:34pm
Quoting bigcoupe
Let me just get something off my chest.

If you're losing pips right now, you're not practising wise technical trading.

The trend right now is obvious. If you're trying to catch the top, good luck! Ride the trend and take profits while you're riding it.

Nuff said.
Well said big C

This is NOT a signal, just my plan, and what I would like to see play out.
I have the daily 5 sma at 13087, in my testing, I have found that price likes to retrace to the 5 sma. I have a buy limit, with a small probing position at 13050. I have the stop loss just below a rising TL (daily) at 12837, so my s/l is at 12779. TP is open. If things go as expected (up), I will add another position every 100 pips of profit (using retraces on the 5 min for entry).
When the top of the current channel is tested, I will have about 4 long positions in profit (assuming I get filled in the first place). If the channel holds, I exit, if the channel breaks, I will continue adding for a target of 140xx. (this could take days to play out).
If the s/l is hit on the first position, a 300 pip loss on a small position is not a big deal, and I wait for the next go round.

The difference is this.
Profitible traders let their profits run, unprofitable traders let their losses run.
  • #158,558
  • Feb 6, 2009 12:38pm Feb 6, 2009 12:38pm
Quoting moneymagnet
this puppy is moving brother. i'm just waitng for profit takers to cash out for weekend. should get descrnt drop. if not c u guys monday
i can see bro, all oscilators and Volume are screaming Bearish DIV.. but the puppy goes UP.. can find his mother.. someone has to tell that his mother is @ 115.80 .. lool...

Yes is it a lunch vaccuum timing.. small Volume players are trying to push over the border.. (without visa and passport)...

I am waiting too for lunch time to finish and for CUSTOM OFFICERS to get back to regulate the Border lol...

I am waiting the same.. mate..
  • #158,559
  • Feb 6, 2009 12:38pm Feb 6, 2009 12:38pm
Quoting dialpips
forexlion, any advice? i'm in red. i can't withstand anything above 136.5. what's ur take?
I had forecast 138.80 long back

And it will achieve this, before the trend weakens out.
  • #158,560
  • Feb 6, 2009 12:38pm Feb 6, 2009 12:38pm
Quoting Mysticdiver
Well said big C

This is NOT a signal, just my plan, and what I would like to see play out.
I have the daily 5 sma at 13087, in my testing, I have found that price likes to retrace to the 5 sma. I have a buy limit, with a small probing position at 13050. I have the stop loss just below a rising TL (daily) at 12837, so my s/l is at 12779. TP is open. If things go as expected (up), I will add another position every 100 pips of profit (using retraces on the 5 min for entry).
When the top of the current channel is tested, I will have about 4 long positions...
Nice plan!

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