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

  • #173,181
  • Apr 26, 2009 3:40pm Apr 26, 2009 3:40pm
Quoting forexlion
GJ will gap down, opening around 142.30

and the focus this week will be on 135 / 136 levels

enjoy your charts
This would be great....
The Market pays you to be disciplined
  • #173,182
  • Apr 26, 2009 3:45pm Apr 26, 2009 3:45pm
Quoting mima
This would be great....
]In fact the opening will be BRUTAL

So if anybody is long, start saying your prayers.

we are already below 141.60
  • #173,183
  • Apr 26, 2009 3:52pm Apr 26, 2009 3:52pm
Quoting quecee5
Ovaforty,

Great analysis bro as usual!

I'm in agreement with your analysis and short biased as well as short this pair. . .

The only concern I have is that price has retraced at least 2/3'rd the prior move which is typical but has manage to close above it on each attempt to break the daily LTL. . .

Therefore, we either will bounce here back above the DP where 145.50 support turned resistance is or we will have to gap down on the open to bypass the toll-gate at the LTL to continue south. . .

Tough call right now or like...
Looks like a slight gap down on the open. . . for now!
  • #173,184
  • Apr 26, 2009 3:53pm Apr 26, 2009 3:53pm
Quoting forexlion
]In fact the opening will be BRUTAL

So if anybody is long, start saying your prayers.

we are already below 141.60
Keep it QUIT BRO...we wont want the flight to be crowded..let them long so we can grab there pips...straight to lamboghinni shop hahhaha!!!!
Imanuel Parsifal
  • #173,185
  • Apr 26, 2009 3:55pm Apr 26, 2009 3:55pm
Quoting forexlion
]In fact the opening will be BRUTAL

So if anybody is long, start saying your prayers.

we are already below 141.60
My platform is still reading 141.95 bro. LOL
  • #173,186
  • Apr 26, 2009 4:37pm Apr 26, 2009 4:37pm
Quoting forexlion
]In fact the opening will be BRUTAL

So if anybody is long, start saying your prayers.

we are already below 141.60


Well, I have my prayers for yen to come to 96.24 or so and gbpjpy would follow...
The Market pays you to be disciplined
  • #173,187
  • Apr 26, 2009 4:37pm Apr 26, 2009 4:37pm
Why BRUTAL?
"Millionaires don't use astrology, billionaires do"
  • #173,188
  • Apr 26, 2009 4:39pm Apr 26, 2009 4:39pm
Quoting forexlion
]In fact the opening will be BRUTAL

So if anybody is long, start saying your prayers.

we are already below 141.60

wow ... really ...... ever heard of mark down , gap fill etc?

brutal .... you really are a funny guy
Blogging daily now at www.volume.zone
  • #173,189
  • Apr 26, 2009 4:49pm Apr 26, 2009 4:49pm
Do you have any idea for tomorrows trade?
  • #173,190
  • Apr 26, 2009 4:52pm Apr 26, 2009 4:52pm
I'm a newbie both in the market and in this forum, but I've seen some nice things in the forum and some people trying to help newbies like me. So I suppose I'm in the correct place.
  • #173,191
  • Apr 26, 2009 5:20pm Apr 26, 2009 5:20pm
same as myself
  • #173,192
  • Apr 26, 2009 5:25pm Apr 26, 2009 5:25pm
Trust only in your self and learn some techniques along the way, you will do much better by yourself this way. Be a good loser, then learn how to minimize the losses and the gains will come!!!!!!! Didnt build ROME overnight.
"Millionaires don't use astrology, billionaires do"
  • #173,193
  • Apr 26, 2009 5:30pm Apr 26, 2009 5:30pm
alright q how's things going mate - missed your chart last week

lets see them s/r lines as i cant chart at the min

support breaks again imo but i can only go by my feel for the market

which off course is bear since i think this little bear rally is about to end
  • #173,194
  • Apr 26, 2009 5:33pm Apr 26, 2009 5:33pm
thanks i do understand, right now i am seeing the market flunctuating and thats what gave me 27 loss last week. so any view of yours about that..
  • #173,195
  • Apr 26, 2009 5:37pm Apr 26, 2009 5:37pm
Quoting timmfikk
thanks i do understand, right now i am seeing the market flunctuating and thats what gave me 27 loss last week. so any view of yours about that..

Risk is not a factor just yet NO Aversion appearing, maybe when we hit that black angle things may change, BUT not yet IMO
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"Millionaires don't use astrology, billionaires do"
  • #173,196
  • Apr 26, 2009 5:41pm Apr 26, 2009 5:41pm
i have lost over $2000 how are you guys doing it on life account?



Quoting timmfikk
thanks i do understand, right now i am seeing the market flunctuating and thats what gave me 27 loss last week. so any view of yours about that..
  • #173,197
  • Apr 26, 2009 5:43pm Apr 26, 2009 5:43pm
thanks i understand what you mean... well as for me i think the market have so much clue and maybe its coz am new to the Live trading
  • #173,198
  • Apr 26, 2009 5:53pm Apr 26, 2009 5:53pm
Quoting mcmartins
i have lost over $2000 how are you guys doing it on life account?
I have been snacked around and down quite a bit. Seems everytime I make a trade it goes against me. When I do make $$$ it is with so few lots that it is taking forever to recoup. I lost hard when I first started live and it put mr in the hole so tough road to hoe. I truly though I could make a living at this.
  • #173,199
  • Apr 26, 2009 5:55pm Apr 26, 2009 5:55pm
Quoting timmfikk
thanks i understand what you mean... well as for me i think the market have so much clue and maybe its coz am new to the Live trading
think of trading as risk management , those that stay in the game are the ones that manage risk the best they are not the best traders. When people ask me about trading and how to trade and give them advise my 1st comment is learn about risk management before you learn about indicators. Risk management is so much more important.

I have seen a lot of traders in here say they have trebled or more an account in a week , 99% of the time it is BS and the other 1 % are highly over leveraging. I would like to see if they are still trading in 3- 5 years,

never over leverage .

always use stops .. I use 1% risk on account per trade.

when in market conditions as we are right now ... ranging ... try to spot the upper and lower portion of the range, If there is a reason to enter the sell at the top of the range then take it with a stop loss that suits your money management , opposite for the longs .

Trade something that is more forgiving .. ie eurusd when 1st starting out live trading .. the beast is not called the beast cause it is easy to trade , trading is already hard , why trade something that is a cross of 2 majors when starting out. Trading gbpjpy is really for seasoned traders who know what they are doing and understand risk management. I have rarely seen 50 pip candles on EU in 5 min , but often see them on GJ

You do not have to be in the market all the time .. trading is like hunting , waiting for the perfect set is better than being in the market all the time and getting stopped out . By the time the perfect set up comes along you have so many loses that you do not have the confidence to trade the perfect set up

Know when to trade ... likely I bet there are traders in here already trading gbpjpy this afternoon ... wrong time to be in the market , there is low liquidity and spreads are higher. .....even if they say they are making money liekly in the end they will lose. I never trade till tokyo opens in 1 hour . I call this time the dead zone.

anything else comes to mind i will post it.
Blogging daily now at www.volume.zone
  • #173,200
  • Apr 26, 2009 6:02pm Apr 26, 2009 6:02pm
Quoting cohiba pips
alright q how's things going mate - missed your chart last week

lets see them s/r lines as i cant chart at the min

support breaks again imo but i can only go by my feel for the market

which off course is bear since i think this little bear rally is about to end
here ya go. . .

Only my view of course. . .

If the daily 5sma (white) cross the 55ema (green) then -
and if we somehow manage to get a DAILY close below 141.70 area then -
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