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

  • #180,461
  • Jun 2, 2009 12:35am Jun 2, 2009 12:35am
Quoting ukdaytrader
You also said the trend is not your friend.
Carry on the good work.
yep the trend is not my friend, i do not wish to enter a trade after the pros have milked the action and left us to get axed.

this post by malcolmb explains all

Quoting malcolmb14
pros hate buying tops ..... lol .... they leave that for us chickens , so statement pros long at 156 does not make sense. Pors have been buying since 143 liekly stopped at 150 and general market euphoria has carried pair higher
  • #180,462
  • Jun 2, 2009 12:57am Jun 2, 2009 12:57am
Quoting forexlion
and not to forget we are still in 162.69 run up, the chart is attached in the post referenced above

for today:

we should bounce off 158.19 and stay above it, but should it break then a good buying level is above 157.48.

hmmm i am with u on this one lion but i am buying from 157. 04 and target for the week 162 first and if broken 167...
trend is your friend,...
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MY OPINION NOT FINANCIAL ADVISE
  • #180,463
  • Jun 2, 2009 1:06am Jun 2, 2009 1:06am
Quoting forexlion
and not to forget we are still in 162.69 run up, the chart is attached in the post referenced above

for today:

we should bounce off 158.19 and stay above it, but should it break then a good buying level is above 157.48.

so you have a buy order at 157.48?
  • #180,464
  • Jun 2, 2009 2:07am Jun 2, 2009 2:07am
Today should be a great day for scalping i would think 300-500 pips can be made today, for me i will be selling every spike up ( over bought ) on the low time frames.

Looks like UK will have some bad news today in banks and this should put presure on GBP at these prices so i think some great moves will happen today.

We are just above DP on this pair so we can maybe see some up moves but for me targeting S1 ( 155.08 ) as a point to maybe bounce to first and will not look to start buying dips till below here maybe even lower 151.44 ( S2 )

Hope you all have a good day...
  • #180,465
  • Jun 2, 2009 2:08am Jun 2, 2009 2:08am
That is not exactly true, pros do buy at tops, but you are right, it's better to counter the trend when it is overbought/oversold , especially when you have a financial crisis and you know that people intend to exaggerate in their expectations. After gbp/jpy broke the 135 level in December it was clear that people are speculating heavily.
  • #180,466
  • Jun 2, 2009 3:01am Jun 2, 2009 3:01am
flight small ant is about to leave for ant hill top, boarding ends in 1 second.
  • #180,467
  • Jun 2, 2009 3:02am Jun 2, 2009 3:02am
Quoting sycho
i picked this up earlier,end of last week,taught it look like accumulation to me....
i guess this is the part where i give up trying to hold positions and just get back to scalping, thats way easier man !
I recommend you read something else as this sentence is now concluded.
  • #180,468
  • Jun 2, 2009 3:07am Jun 2, 2009 3:07am
Quoting forexlion
flight small ant is about to leave for ant hill top, boarding ends in 1 second.
oops there is an ant eater at 158.32 gotta wait ...
  • #180,469
  • Jun 2, 2009 3:29am Jun 2, 2009 3:29am
There is alot of divergence in the GBPJPY--I will long it here at 158.01--stops 157.33--TP 158.79and 160.00
  • #180,470
  • Jun 2, 2009 3:35am Jun 2, 2009 3:35am
Quoting Turn12100
There is alot of divergence in the GBPJPY--I will long it here at 158.01--stops 157.33--TP 158.79and 160.00
i dont think that is a good idea now, see 15M TF, there is a small channel forming there...

when gb/jp is silent it scares me oh
Buying Tops, Selling dips xP
  • #180,471
  • Jun 2, 2009 3:38am Jun 2, 2009 3:38am
Quoting Iphonetrader
Today should be a great day for scalping i would think 300-500 pips can be made today, for me i will be selling every spike up ( over bought ) on the low time frames.

Looks like UK will have some bad news today in banks and this should put presure on GBP at these prices so i think some great moves will happen today.

We are just above DP on this pair so we can maybe see some up moves but for me targeting S1 ( 155.08 ) as a point to maybe bounce to first and will not look to start buying dips till below here maybe even lower 151.44 ( S2 )

Hope...

can u pls show chart where gj show a strong bearish movement to 155.08 or 151.44............gj is strongly bullish and i think think why u should think of such down movement when gj is about to enter a new price level for june ...dont forget gj almost hit 160 yesterday so this should give u a clue that they are still buying ...till 162 before i consider short on gj..trade ur chart....good luck
MY OPINION NOT FINANCIAL ADVISE
  • #180,472
  • Jun 2, 2009 3:42am Jun 2, 2009 3:42am
Quoting Turn12100
There is alot of divergence in the GBPJPY--I will long it here at 158.01--stops 157.33--TP 158.79and 160.00

we in tight range now on low charts why go long at 158.01?

i would just scalp well we have tight range if i was you and enjoy the easy pips stop guessing what will happen

im not saying your not correct but best to trade what chart shows us and take advantage of tight ranges
  • #180,473
  • Jun 2, 2009 4:44am Jun 2, 2009 4:44am
hope you managed to take some pips on the drop
  • #180,474
  • Jun 2, 2009 4:45am Jun 2, 2009 4:45am
http://analysisfxblog.com/wp-content...5m-300x174.gif
not too late to posting my chart
  • #180,475
  • Jun 2, 2009 5:06am Jun 2, 2009 5:06am
Interesting... now does it brake this bulll flag and go higher..or is just a new down channel?
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Fear's for the other guy
  • #180,476
  • Jun 2, 2009 5:08am Jun 2, 2009 5:08am
be good to have some volume analysis..as i have no access ... any one?
Fear's for the other guy
  • #180,477
  • Jun 2, 2009 5:16am Jun 2, 2009 5:16am
What ever people say...

am only use my 'reverse physological market sentiment' atm after got some info in my dream last night......

God say 900-1000pips tank from 159......it could be wrong and i will update if it turn to 'oh my god'....

see what happen....perhaps PA will close below 154 in my middle TL and then....there we r.....oops...am getting crazy....

P/S : Do not follow me..as am taking 1000% risk for my recovery plan
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  • #180,478
  • Jun 2, 2009 5:30am Jun 2, 2009 5:30am
Quoting grashid
What ever people say...

am only use my 'reverse physological market sentiment' atm after got some info in my dream last night......

God say 900-1000pips tank from 159......it could be wrong and i will update if it turn to 'oh my god'....

see what happen....perhaps PA will close below 154 in my middle TL and then....there we r.....oops...am getting crazy....

P/S : Do not follow me..as am taking 1000% risk for my recovery plan
Respect my friend, coming back so soon
  • #180,479
  • Jun 2, 2009 5:52am Jun 2, 2009 5:52am
Quoting Geeza.kb
Respect my friend, coming back so soon
thanks for your concern...mmm...just play with my kid and sleep early yesterday...nothing special....how's ur life....be fool with this girl?...thinking to rest another day..but now weekup from concious and managed to get 10K from 159 short at 157 first TP and left this 3 from 158 area and see what happen...already put my SL=158..so no -pips for today for sure........life never end...just got some morale support from a few of my best friend ..thanks to them to cheer me up...forex is my life...and life is my forex....

P/S : Just hope my dream to buy 100 acre of land next year will comes true..then next... for sure luxury house n my dream car....
  • #180,480
  • Jun 2, 2009 7:28am Jun 2, 2009 7:28am
Quoting grashid
thanks for your concern...mmm...just play with my kid and sleep early yesterday...nothing special....how's ur life....be fool with this girl?...thinking to rest another day..but now weekup from concious and managed to get 10K from 159 short at 157 first TP and left this 3 from 158 area and see what happen...already put my SL=158..so no -pips for today for sure........life never end...just got some morale support from a few of my best friend ..thanks to them to cheer me up...forex is my life...and life is my forex....

P/S : Just...
Wish that your dreams come true
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