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

  • #177,301
  • May 14, 2009 1:38pm May 14, 2009 1:38pm
it HAS bounced off the daily upward trendline, broken the hourly down trendline from 149, and it is also now above the monthly pivot

if the pro's are still short their profits are surely evaporating fast?

either its setting up for a hell of a nice short, or we have missed the boat to go long?
  • #177,302
  • May 14, 2009 1:39pm May 14, 2009 1:39pm
Quoting malcolmb14
I always use a stop ..... it is a must. But sometime in trading you do not get time to go the gym . So i trade without a stop to get heart rate to 150 ...lol.
... and to raise adrenaline to 500
Discipline + Patience - Fear - Greed = Success
  • #177,303
  • May 14, 2009 1:45pm May 14, 2009 1:45pm
Quoting ewokuk
so what happens when you are short from when gj broke 119 in jan? you are now 2600 pips down, losing interest on rollover every day and have slim chance of getting out if that trade within the next few months at the minimum. if you had a 50 pip stop or less on it then you might have been long since 120 and with much larger trade size...
It's very simple, don't fight the swap. you can always hedge with long aud/jpy (as i do) when shorting the gbp/jpy. If the short trade is a success, you can close it with profit and leave the long aud/jpy in minus, cause you know that it will get back to its past levels once the whole crysis is over and the swap is on you side. If short gbp/jpy was a failure you can always break even by closing both trades simultaniously after waiting to see if the tie will turn. Knowing that Australia is less affected by the crysis it's always a good way to hedge the short gbp with long aud. It worked for me.
  • #177,304
  • May 14, 2009 1:46pm May 14, 2009 1:46pm
climatic action on GJ 5min around the top of the trading range (MML)....

perhaps a good re-short entry...
  • #177,305
  • May 14, 2009 1:49pm May 14, 2009 1:49pm
Quoting Estero
I had a dream it was going back to 150 before ny close
bro.do you want to have nightmares(i mean the type that you wake up in the arms of a bear or the mouth of fxlion..)..Don't get it twisted..we can't make through 146.90
Imanuel Parsifal
  • #177,306
  • May 14, 2009 1:52pm May 14, 2009 1:52pm
wo! looks like bears are gaining back in..guyz am off to bed se you all at asian session hopefully...
Imanuel Parsifal
  • #177,307
  • May 14, 2009 1:56pm May 14, 2009 1:56pm
Quoting sycho
bears are been slaughtered from the daily pivot..can som1 shoot this bulls

bro why are u so bear, u dont trade trend? u see gj going 146 which i post the chart and some others post chart also....4hrs gj was showing some bullish very clear..
u are a bear hope ur GF dont like bull u will kill it and buy her teddy bear...
MY OPINION NOT FINANCIAL ADVISE
  • #177,308
  • May 14, 2009 2:00pm May 14, 2009 2:00pm
Quoting sycho
wo! looks like bears are gaining back in..guyz am off to bed se you all at asian session hopefully...
better sleep with an eye open down there
  • #177,309
  • May 14, 2009 2:03pm May 14, 2009 2:03pm
Quoting donfriday
bro why are u so bear, u dont trade trend? u see gj going 146 which i post the chart and some others post chart also....4hrs gj was showing some bullish very clear..
u are a bear hope ur GF dont like bull u will kill it and buy her teddy bear...
Is this a chick pushing sumo on your avatar? its too small cannot see it
  • #177,310
  • Edited 2:33pm May 14, 2009 2:14pm | Edited 2:33pm
It's decision time so neutral is a good position from here. Possible bull continuation as support was found at 61.8% at 11 GMT (i think thats the right time). Bear is a good risk:reward at this current level to look for a retest - who knows how far and if the bear has the strength though.
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  • #177,311
  • May 14, 2009 2:32pm May 14, 2009 2:32pm
Quoting donfriday
bro why are u so bear, u dont trade trend? u see gj going 146 which i post the chart and some others post chart also....4hrs gj was showing some bullish very clear..
u are a bear hope ur GF dont like bull u will kill it and buy her teddy bear...
she does'nt have that word in her dictionary....i practically hav'nt heard that word b/4..not until 130-118below
Imanuel Parsifal
  • #177,312
  • May 14, 2009 2:37pm May 14, 2009 2:37pm
I know that I don't post very often and don't know very much, but what I noticed in a lot of postings of newbies (probably), is that they don't draw the trendlines and channels correctly. It makes no sense to draw a channel through the middle of many candles. The same applies to trendlines. Some people draw lines at opens or closes of the bar and som through high and low point. That's everyones own decision. But it doesn't make sense to draw lines through the middle of candles, just that ones personal view is supported.
Please read about trendlines and channels before you post silly images, it only confuses people and creates bad habits.
  • #177,313
  • May 14, 2009 2:38pm May 14, 2009 2:38pm
hey guys, i think u most not looking for retest, if u have a short close it, if by now your not long, look for a good entry.
i think it was wave 1 that completed , not 5 or not B, and with this 61.8 retrace of daily it seems we completed the correction ( wave 2) , and we are going too form wave 3, so i think this time we'll break 151.51.
145-145.35 is a good area to go long, good luck
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Making money not by predicting just by following ...
  • #177,314
  • May 14, 2009 2:38pm May 14, 2009 2:38pm
Quoting Estero
better sleep with an eye open down there
don't worry bro..am a friend of a LION...lol..Gnit all...Sweet dreams to all the ladies in the house my hat's are off.......
Imanuel Parsifal
  • #177,315
  • May 14, 2009 2:41pm May 14, 2009 2:41pm
Quoting Kurti
I know that I don't post very often and don't know very much, but what I noticed in a lot of postings of newbies (probably), is that they don't draw the trendlines and channels correctly. It makes no sense to draw a channel through the middle of many candles. The same applies to trendlines. Some people draw lines at opens or closes of the bar and som through high and low point. That's everyones own decision. But it doesn't make sense to draw lines through the middle of candles, just that ones personal view is supported.
Please read about trendlines...
That all depends on how you look at it and what time frame. TL's are more of zones anyway. I prefer to draw with whatever coincided with touches on bigger time frames then scale it down. It's all the same thing and TL's are not that significant compared to support & resistance. Calling out prices is just stupid as it is a guess most the time. The best thing to rely on is buying at support and selling at resistance. Remember - buy low & sell high?
  • #177,316
  • May 14, 2009 2:42pm May 14, 2009 2:42pm
Quoting sleep1Iopen
That all depends on how you look and what time frame. TL's are more of zones anyway. I prefer to draw with whatever coincided with touches on bigger time frames then scale it down. It's all the same thing and TL's are not that significant compared to support & resistance.
BS
  • #177,317
  • May 14, 2009 2:45pm May 14, 2009 2:45pm
Quoting sleep1Iopen
That all depends on how you look at it and what time frame. TL's are more of zones anyway. I prefer to draw with whatever coincided with touches on bigger time frames then scale it down. It's all the same thing and TL's are not that significant compared to support & resistance. Calling out prices is just stupid as it is a guess most the time. The best thing to rely on is buying at support and selling at resistance. Remember - buy high & sell low.
If one picks exact top and bottome why would he bother with stop loss lol
  • #177,318
  • May 14, 2009 2:46pm May 14, 2009 2:46pm
Quoting Estero
If one picks exact top and bottome why would he bother with stop loss lol
I usually don't use stops. Have gotten in trouble sometimes but if it's a good price then it's ok to hold on and be patient.
  • #177,319
  • May 14, 2009 2:47pm May 14, 2009 2:47pm
Quoting Kurti
BS
Keep an open mind Kurt, you might learn something new. Just cause it doesn't mix with your method doesn't mean it doesn't work for others.
  • #177,320
  • May 14, 2009 2:50pm May 14, 2009 2:50pm
Quoting sleep1Iopen
I usually don't use stops. Have gotten in trouble sometimes but if it's a good price then it's ok to hold on and be patient.
You better know what you're doing...
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