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

  • #203,941
  • Oct 16, 2009 1:53am Oct 16, 2009 1:53am
kinda dead in here tonight!
  • #203,942
  • Oct 16, 2009 1:57am Oct 16, 2009 1:57am
Quoting just_ha
kinda dead in here tonight!
everyone is counting their bucks from the movement!
  • #203,943
  • Oct 16, 2009 1:57am Oct 16, 2009 1:57am
lol
  • #203,944
  • Oct 16, 2009 1:59am Oct 16, 2009 1:59am
seems buyers off the point of control


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Blogging daily now at www.volume.zone
  • #203,945
  • Oct 16, 2009 2:03am Oct 16, 2009 2:03am
Quoting malcolmb14
seems buyers off the point of control


Attachment

sellers all the way ..... those buyers just got absorbed ....

1.6300 is key , below that 1.6170 target on retrace
Blogging daily now at www.volume.zone
  • #203,946
  • Oct 16, 2009 2:56am Oct 16, 2009 2:56am
hi...guys....anybody got a good book on how to read price action?really need to know how to red them....kind a new...just know a little bit only ...and wanted to have more deeper understanding about reading the price action.......please...thanks in advance...
  • #203,947
  • Oct 16, 2009 3:34am Oct 16, 2009 3:34am
waiting 4 break beyond this point & we'll hit 150.
  • #203,948
  • Oct 16, 2009 3:38am Oct 16, 2009 3:38am
looks like its been broken
  • #203,949
  • Oct 16, 2009 3:39am Oct 16, 2009 3:39am
think im going to wait for break of R1 at 149.12 cos after that it looks clear to 150

lol it broke already as i typed
  • #203,950
  • Oct 16, 2009 3:40am Oct 16, 2009 3:40am
Quoting just_ha
looks like its been broken

are you happy now?..u asked if i was sure..
MY OPINION NOT FINANCIAL ADVISE
  • #203,951
  • Oct 16, 2009 3:43am Oct 16, 2009 3:43am
I'm sorry when price dropped to 147.66 , i actually thought of you!
do you think a 75 pip sl is enough ?

Quoting donfriday
are you happy now?..u asked if i was sure..
  • #203,952
  • Oct 16, 2009 4:03am Oct 16, 2009 4:03am
Quote
are you happy now?..u asked if i was sure..

  • #203,953
  • Oct 16, 2009 4:26am Oct 16, 2009 4:26am
Quoting just_ha
I'm sorry when price dropped to 147.66 , i actually thought of you!
do you think a 75 pip sl is enough ?

where u pick ur entry should give u the decision of where ur sl should be and ur target. 75pips sl then u should target double or even 30pips risk reward....
my sl is 50 cus i pick my entry from bottom if it close me fine more chance will come.....
MY OPINION NOT FINANCIAL ADVISE
  • #203,954
  • Oct 16, 2009 4:31am Oct 16, 2009 4:31am
I enterd in at 149, looking to do a longer trade, next major resistance line is 152 area.

Quoting donfriday
where u pick ur entry should give u the decision of where ur sl should be and ur target. 75pips sl then u should target double or even 30pips risk reward....
my sl is 50 cus i pick my entry from bottom if it close me fine more chance will come.....
  • #203,955
  • Oct 16, 2009 4:37am Oct 16, 2009 4:37am
IMHO if it was me....i would put my sl somehere arond 100 to 120 pips....with the risk of my 2% equity...if i got it right...happy green pips for me...andif i got it wrong....what i'm gonna do....just try again for the next oppurtunity....(sorry if my advice is wrong meant)...
  • #203,956
  • Oct 16, 2009 4:56am Oct 16, 2009 4:56am
DAMNIT!

thought i saw a no demand up bar on 5min, came up, big bar, no volume into R1. took a short at 149.09 but kept stop tight as its against trend and moved it to +1 too quick. got stopped out for +1, now look where it went
  • #203,957
  • Oct 16, 2009 5:02am Oct 16, 2009 5:02am
HI Ewokuk - I am only a newbie who does not post a lot, but reads this thread avidly. I have tried this move SL to BE quickly but find it does not work like Malc can make it work. I have found that I need at least 20 pips SL on this pr as I have a spread of 8. Only a suggestion.
  • #203,958
  • Oct 16, 2009 5:07am Oct 16, 2009 5:07am
Quoting ewokuk
DAMNIT!

thought i saw a no demand up bar on 5min, came up, big bar, no volume into R1. took a short at 149.09 but kept stop tight as its against trend and moved it to +1 too quick. got stopped out for +1, now look where it went

another thing about your trading style development

it takes risk to make money, moving a sl to BE is all fine and good but will keep you out of LOTS of winning trades, WHY because you are in range, Keep stops out of range and leave them alone until you get a good lead on market
"Millionaires don't use astrology, billionaires do"
  • #203,959
  • Oct 16, 2009 5:08am Oct 16, 2009 5:08am
for now no signal short...only long till 150 1st...only decide where to go
  • #203,960
  • Oct 16, 2009 5:11am Oct 16, 2009 5:11am
Quoting gillybabe
HI Ewokuk - I am only a newbie who does not post a lot, but reads this thread avidly. I have tried this move SL to BE quickly but find it does not work like Malc can make it work. I have found that I need at least 20 pips SL on this pr as I have a spread of 8. Only a suggestion.
yeah i just moved it extra quick as it was against big trend and i was trying to protect gains from the last 2 trades. looks like i was right about the no demand bar as it would have been a nice quick easy 60 pips.

tried to take another long when it bounced from 148.50 just now but stopped for +1 again. looks like i was right to move the stop fast this time though.
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