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

  • #203,601
  • Oct 15, 2009 8:50am Oct 15, 2009 8:50am
Quoting rgitt05
You might hit the bull eye if the double bottom plays out

A double bottom occurs when prices form two distinct lows on a chart. A double bottom is only complete, however, when prices rise above the high end of the point that formed the second low.

http://www.trending123.com/patterns/double_bottom.html


lol make up your mind every 50 pip down move last week you were calling kaboom ...

now you biggest bull out there ? lol

just teasing you....

weekly r2 gu 1.6223 ,,,,, this does not hold retrace to MP 1.6171 , still looking to buy dips though
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  • #203,602
  • Oct 15, 2009 8:54am Oct 15, 2009 8:54am
I have a feeling the market is watching FF board setup and fooling the PA breakout to downside



I am now trading the charts..

Fundamentals is insane..

Kaboom on Vacation for the moment.

still bearish long term







Quoting malcolmb14
lol make up your mind every 50 pip down move last week you were calling kaboom ...

now you biggest bull out there ? lol

just teasing you....

weekly r2 gu 1.6223 ,,,,, this does not hold retrace to MP 1.6171 , still looking to buy dips though
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  • #203,603
  • Oct 15, 2009 8:55am Oct 15, 2009 8:55am
More from [ECB's TRICHET], though this time firmly on the fence, as he says the Bank is neither optimistic nor pessimistic about the economy while emphasising now is not the time to signal a return to good times.
  • #203,604
  • Oct 15, 2009 8:57am Oct 15, 2009 8:57am
long gu off w r2 1.6225 pin bar 5 min

20 pip stop ....
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  • #203,605
  • Oct 15, 2009 9:06am Oct 15, 2009 9:06am
Quoting malcolmb14
long gu off w r2 1.6225 pin bar 5 min

20 pip stop ....
why... wasn't there selling in the background?
  • #203,606
  • Oct 15, 2009 9:10am Oct 15, 2009 9:10am
Quoting malcolmb14
from vsa perspective NO sellers in sight ... why try stopping a freight train ...are we that desperate to hit a trade ?

148 to 148.50 is place to look for profit taking ... but even I and NOT taking sells today
Well it would have formed a double top on the 15min chart if it goes down to the 146.27 level. If you see a breach of that level and some good 'push' then there is a good chance for taking a decent scalp. You'd need to use approproiate risk management ofcourse with stop losses and correct position sizing etc etc.

It depends on your strategy. If you are following the trend then yeah, up is the trend and you should try to hold on during the corrections. But if you are a really short term scalper then there will be opportunities during subsequent market reactions. (aka pull backs)

But yeah I do take your point regarding the trend. Even if doing short term trades it's always good to follow the trend.
  • #203,607
  • Oct 15, 2009 9:11am Oct 15, 2009 9:11am
Quoting hwsv07
why... wasn't there selling in the background?

yup selling since 1.6000 ...lol


the background is buying has been since 1.6000.... 5 min double pin bars with buyers on both 1.6225

did you see the LV test ?

1.6225 is test of that level

there does however not seem to be a whole bunch of buying interest

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  • #203,608
  • Oct 15, 2009 9:12am Oct 15, 2009 9:12am


Quoting Fudomyo
lol... is anyone short at the moment?
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  • #203,609
  • Oct 15, 2009 9:15am Oct 15, 2009 9:15am
Quoting altrader
Well it would have formed a double top on the 15min chart if it goes down to the 146.27 level. If you see a breach of that level and some good 'push' then there is a good chance for taking a decent scalp. You'd need to use approproiate risk management ofcourse with stop losses and correct position sizing etc etc.

It depends on your strategy. If you are following the trend then yeah, up is the trend and you should try to hold on during the corrections. But if you are a really short term scalper then there will be opportunities during subsequent...

thanks for insight

there was double top 147.50 and hope you got it....retrace has to happen some time

I have strict rule when day trading ..... miss the counter trend trades . It has kept me out of a lot of bad trades ... so for now i will stick to it. fore me I would look for news buys in 146.75 to 146.50 zone if there are any there

I guess I will have to limp away with my 145 pip for 2 hrs .... lol
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  • #203,610
  • Oct 15, 2009 9:16am Oct 15, 2009 9:16am
Quoting Fudomyo
lol... is anyone short at the moment?
YUP

in scalps..

both [GU and GY]
  • #203,611
  • Oct 15, 2009 9:17am Oct 15, 2009 9:17am
Quoting SwissKinseb
i see short possibilities @ 147.50 area
perfect entry !!!! but i am out with 0, i move sl to break even
  • #203,612
  • Oct 15, 2009 9:23am Oct 15, 2009 9:23am
Quoting rgitt05
opps

Quoting Piters
YUP

in scalps..

both [GU and GY]
I was sorely tempted but dont want to wake up tomorrow morning with a terrible hangover and all my pips gone. lol

I'll leave it to those much more skilled than me!
  • #203,613
  • Oct 15, 2009 9:24am Oct 15, 2009 9:24am
Quoting Fudomyo
opps



I was sorely tempted but dont want to wake up tomorrow morning with a terrible hangover and all my pips gone. lol

I'll leave it to those much more skilled than me!
one way or another.. if you miss the Up move, Down move is always available..

:d
  • #203,614
  • Oct 15, 2009 9:26am Oct 15, 2009 9:26am
Quoting malcolmb14
thanks for insight

there was double top 147.50 and hope you got it....retrace has to happen some time

I have strict rule when day trading ..... miss the counter trend trades . It has kept me out of a lot of bad trades ... so for now i will stick to it. fore me I would look for news buys in 146.75 to 146.50 zone if there are any there

I guess I will have to limp away with my 145 pip for 2 hrs .... lol
Yeah I saw that mini double top but for me that isn't a trade because I like to look for 'pivotal points'. Points where price reversed. If you look at the 146.27 level on the 15min chart, you'll see that price retraced down and hit that level and then bounced up and went all the way to 147.52

So for me the 146.27 is like a major area of support. If we breach that level strongly then I believe that a 20-60pip scalp is possible if you were going short. The subjective part of what i just said though is what constitues a 'strong breach'. I have some things that I look at for that but you know...nothing is perfect and losses do come along with some profits.

Having said all of this...I must say that I generally do trade with the trend as you mention. It's only rarely that i'd trade a counter trend. And I'm not saying that I will take this trade to the downside. In fact i'm a little spooked at trying given the huge moves to the upside. But if I see sufficent push then I may take it.
  • #203,615
  • Oct 15, 2009 9:30am Oct 15, 2009 9:30am
g/j longers must be going off for a long weekend already lol
  • #203,616
  • Oct 15, 2009 9:32am Oct 15, 2009 9:32am
Quoting Fudomyo
opps



I was sorely tempted but dont want to wake up tomorrow morning with a terrible hangover and all my pips gone. lol

I'll leave it to those much more skilled than me!
Kids, do not try this at home ....
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  • #203,617
  • Oct 15, 2009 9:32am Oct 15, 2009 9:32am
Quoting altrader
Yeah I saw that mini double top but for me that isn't a trade because I like to look for 'pivotal points'. Points where price reversed. If you look at the 146.27 level on the 15min chart, you'll see that price retraced down and hit that level and then bounced up and went all the way to 147.52

So for me the 146.27...

we should get decent retrace ..... looking 3 hr gu she has moved 600 pip up ... yet the retrace has only been 75 pip .... odd .... even 38 % retrace should be 1.6000 , makes prefect sense

overall us indexes well overdone .... cannot wait until the gs robots batteries run out ...lol

I would love to see test 148 of daily resistance and then a load of sellers come in on vsa set ups .... this is the support are that was broken and not tested yet
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  • #203,618
  • Oct 15, 2009 9:34am Oct 15, 2009 9:34am
350 pips for today...thanx
  • #203,619
  • Oct 15, 2009 9:36am Oct 15, 2009 9:36am
Quoting aa.eeiimm
350 pips for today...thanx
tkx for who?
  • #203,620
  • Oct 15, 2009 9:41am Oct 15, 2009 9:41am
Quoting warta
tkx for who?

was just going to say .. guy never posts a chart ...then that ....
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