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

  • #186,341
  • Jul 29, 2009 1:06am Jul 29, 2009 1:06am
good morning traders
  • #186,342
  • Jul 29, 2009 1:18am Jul 29, 2009 1:18am
If GJ manages to break the weekly T3 and further the 150 level, then nothing stops it from reaching 132
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  • #186,343
  • Jul 29, 2009 1:26am Jul 29, 2009 1:26am
Quoting forexlion
If GJ manages to break the weekly T3 and further the 150 level, then nothing stops it from reaching 132
will be interesting to see what happens with a breakdown of 5400

i think this is going to be one of those 150 down 100 up 140 down 120 up playouts as well move back towards 4500 area
--post hoc ergo propter hoc--
  • #186,344
  • Jul 29, 2009 1:29am Jul 29, 2009 1:29am
S/R Levels in play currently
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  • #186,345
  • Jul 29, 2009 1:34am Jul 29, 2009 1:34am
Quoting Scrat
long term, probably in the 60 area...
but depends how much you want to wait for it
Might be really fast if we consider speed of 5th wave .
agree with TP LTL or slightly(500 pips hehe) below.
  • #186,346
  • Jul 29, 2009 2:42am Jul 29, 2009 2:42am
hi all
there is a rsi divergence on hourly chart.
think we can play it ?
  • #186,347
  • Jul 29, 2009 3:18am Jul 29, 2009 3:18am
i think the big guys were unloading yesterday and retail traders brought it down further. I think it's gonna shoot up depending on the news.
  • #186,348
  • Jul 29, 2009 3:29am Jul 29, 2009 3:29am
You could be right...Yesterday I could see a move sub 150...not I am not seeing it...it could keep falling but for now I see in the short term charts and tick charts a move up....looks like 154 area will not break!

Quoting dre3029
i think the big guys were unloading yesterday and retail traders brought it down further. I think it's gonna shoot up depending on the news.
  • #186,349
  • Jul 29, 2009 3:32am Jul 29, 2009 3:32am
This beast still eyes for 152.50.
  • #186,350
  • Jul 29, 2009 3:35am Jul 29, 2009 3:35am
I agree with you...152-150 or below...but I am starting to have my doughts we are going to see it. Looks like it wants to move back up! Tho I am still holding my shorts....so we will see...next 24hr will tell....

Quoting Xaron
This beast still eyes for 152.50.
  • #186,351
  • Jul 29, 2009 3:49am Jul 29, 2009 3:49am
Short @154.93...I'll target 153.60 first then i'll see...down down donw!!
COT: The precious data ignored
  • #186,352
  • Jul 29, 2009 3:50am Jul 29, 2009 3:50am
I have mt4 and was wondering if anybody notice why one of the four hour bars from yesterday has a volume of over 24,000 but all the other high volume bars are nowhere near that. Why?
  • #186,353
  • Jul 29, 2009 3:57am Jul 29, 2009 3:57am
Quoting dre3029
I have mt4 and was wondering if anybody notice why one of the four hour bars from yesterday has a volume of over 24,000 but all the other high volume bars are nowhere near that. Why?
Don't be fooled with volume in Forex market. In MT4 it's just how many ticks where counted. That's not the volume...

Bulls be careful!
  • #186,354
  • Jul 29, 2009 4:01am Jul 29, 2009 4:01am
yea, I know it means how many ticks were counted. I was just thinking compared to others that it was a lot. I'm only long now cause it touched tried to break 153.75 twice then went up and considering we are in an uptrend I had to go long.
  • #186,355
  • Jul 29, 2009 4:03am Jul 29, 2009 4:03am
The downtrend is still intact in all timeframes... (well maybe beside 5m but that doesn't really matter)
  • #186,356
  • Jul 29, 2009 4:07am Jul 29, 2009 4:07am
yea, charts do look short
  • #186,357
  • Jul 29, 2009 4:10am Jul 29, 2009 4:10am
Quoting Xaron
The downtrend is still intact in all timeframes... (well maybe beside 5m but that doesn't really matter)

well i based myself on the 5mn to take my short, let's say it matters a little bit
COT: The precious data ignored
  • #186,358
  • Jul 29, 2009 4:14am Jul 29, 2009 4:14am
Quoting Xaron
Don't be fooled with volume in Forex market. In MT4 it's just how many ticks where counted. That's not the volume...

Bulls be careful!
Can open, worms everywhere....

There are many here who use MT4 volume very successfully, so it becomes a thorny issue. I know the old adage about there being no volume in Forex, but that doesn't tell the true story.
  • #186,359
  • Jul 29, 2009 4:16am Jul 29, 2009 4:16am
Hi,

I am new to forex...i made amistake and now i am worried about it.

i did 2 buy at 156.14 and 156.28 in GBPJPY currency. i got struick up in breakout and expecting a u turn...

finally the loss went to -3800 dollars...

i did 2 lots of hedging there at 154.51 and 154.55.

now my current loss is 3800 and its running...

now i am very much confused and worried about how and when to close thes 4 position without loss..

my account is critical stage...kindly help me...

now what could be done?

Aariff
  • #186,360
  • Jul 29, 2009 4:18am Jul 29, 2009 4:18am
Aariff, remember this as a lession to you. I know this sounds hard, but obviously you did some overleveraging. Sure, there is always a way out of a hedge, but this can become tricky. Personally I expect more short bias so adding more small shorts could(!) be the way out of this. But I can be wrong as well and the markets are always right.
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