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

  • #204,421
  • Oct 19, 2009 5:48am Oct 19, 2009 5:48am
This is Gloves entry piters gave to me...
simple taking it up and down ..hehehehhe
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MY OPINION NOT FINANCIAL ADVISE
  • #204,422
  • Oct 19, 2009 5:51am Oct 19, 2009 5:51am
Quoting warta
we shall call him Malcvolume14
heheheh remove 14 and call him malcvolume...............VSA Guru
MY OPINION NOT FINANCIAL ADVISE
  • #204,423
  • Oct 19, 2009 6:14am Oct 19, 2009 6:14am
Quoting ewokuk
dont forget 90 /2 -9 /3 = 0 profit

tried ODL, alpari, ibfx and broco. broco seems by far the closest match on that 1h
Broco is excellent. I've compared it to Malcolms posts ever since I started using it and it's very close...... and free.

Well, looks like the weekend quotes were hit after the open and have now reversed.
  • #204,424
  • Oct 19, 2009 6:19am Oct 19, 2009 6:19am
Quoting ukdaytrader
Broco is excellent. I've compared it to Malcolms posts ever since I started using it and it's very close...... and free.

Well, looks like the weekend quotes were hit after the open and have now reversed.
have you tried fxcm? jus grabbed a mt4 demo from them and it also looks pretty close. not sure if its better than broco.

amazingly it seems to be using BST so i dont have to work out what time something was

im long gj from 148.05
  • #204,425
  • Oct 19, 2009 6:23am Oct 19, 2009 6:23am
Well, currently GJ is above 148, UJ well above 90.75 and GU above 1.6250.. Hopefully price will stay like this.. this will clear the path to 150..
  • #204,426
  • Oct 19, 2009 6:25am Oct 19, 2009 6:25am
Quoting ewokuk
have you tried fxcm? jus grabbed a mt4 demo from them and it also looks pretty close. not sure if its better than broco.

amazingly it seems to be using BST so i dont have to work out what time something was

im long gj from 148.05
at last, you are in the trend.. anyway, keep an eye on 148.. hopefully price will closed above it.. engulfing in 4hr will be even better..
  • #204,427
  • Oct 19, 2009 6:26am Oct 19, 2009 6:26am
Quoting A-speculator
at last, you are in the trend.. anyway, keep an eye on 148.. hopefully price will closed above it..
i hope so, i got my stop at 148.10 maybe its too close
  • #204,428
  • Oct 19, 2009 6:29am Oct 19, 2009 6:29am
Quoting ewokuk
i hope so, i got my stop at 148.10 maybe its too close
I can't comment regarding that, it's only you who knows how much risk you are willing to take. But I think, we will test 149.40 or even break it if GU can closed above the 1hr inverted hammer and UJ stays above the F23.6 (90.75)..
  • #204,429
  • Oct 19, 2009 6:32am Oct 19, 2009 6:32am
Quoting A-speculator
I can't comment regarding that, it's only you who knows how much risk you are willing to take. But I think, we will test 149.40 or even break it if GU can closed above the 1hr inverted hammer and UJ stays above the F23.6 (90.75)..
yeh i would like to hold this until 149 at least. if it gets there i may put an order close behind it to take off half. what will irritate is being 30 pips up right now and ending up with nothing if it decides to drop back to 148. i guess if it does at least i can get in again, but i dont like giving back pips.

its just cleared the 61.8 retrace of the down move but lower tfs are looking a bit overbought now, rsi well over 70 on 5min, it probably wont go up much further without some sort of retrace or at least consolidation.

ok closed it for now, it stopped at 148.50 so i took my 30 pips. will look for another long after its finished its retrace. 20 mins retrace to NY open would be perfect timing for ny to send it back up
  • #204,430
  • Oct 19, 2009 6:38am Oct 19, 2009 6:38am
Quoting ewokuk
yeh i would like to hold this until 149 at least. if it gets there i may put an order close behind it to take off half. what will irritate is being 30 pips up right now and ending up with nothing if it decides to drop back to 148. i guess if it does at least i can get in again, but i dont like giving back pips.
Well, all I can say, it depends on GU & UJ also.. if the movement for GU & UJ maintain its bullishness, I don't think we will retrace back to 148.. If UJ retest back 91.25 and GU 1.6370, we will definitely be at 149 area..
  • #204,431
  • Oct 19, 2009 6:55am Oct 19, 2009 6:55am
Quoting ewokuk
yeh i would like to hold this until 149 at least. if it gets there i may put an order close behind it to take off half. what will irritate is being 30 pips up right now and ending up with nothing if it decides to drop back to 148. i guess if it does at least i can get in again, but i dont like giving back pips.

its just cleared the 61.8 retrace of the down move but lower tfs are looking a bit overbought now, rsi well over 70 on 5min, it probably wont go up much further without some sort of retrace or at least consolidation.

ok closed it for...
One thing i've noticed about your trades is the amount of times your SL has been hit at b/e+1. Says to me you're picking direction well, but do not trust it enough to let it breathe. There is no magic solution to this except smaller trades and larger stops.
  • #204,432
  • Oct 19, 2009 6:57am Oct 19, 2009 6:57am
Well, closed my long on EU & AU and open short pos for both pairs.. let's see how it goes.. this is just scalp/daytrade only..
  • #204,433
  • Oct 19, 2009 7:26am Oct 19, 2009 7:26am
Quote
yeh i would like to hold this until 149 at least

ewokuk....the stop-loss that you've put for...i guess is too tight...i know that we should minimize our loss....but in this case...we are dealing with the dragon...a very wide spread.....try to small down your size and extend your stop-losses and for once see what happen.....
  • #204,434
  • Oct 19, 2009 7:28am Oct 19, 2009 7:28am
...adding short?...let have fun for a while
  • #204,435
  • Edited 8:55am Oct 19, 2009 7:45am | Edited 8:55am
Ping pong trading is a sure way to lose money but I'll leave that to the many traders that enjoy that style.

Me I like to wait for the market to settle down and determine a direction and then follow the money wherever it goes for the short or long-term. . .

With this method patience is required and you don't have to sit in front of the tube all night with exhaustion. Not good to trade when sleep deprived anyway sure way to make mistakes, have mis-steps and give the market back all the gains acquired during your ping-pong trading.

As stated best thing to do is be patient and wait for the right set-up and jump on the ride of smart money. . .

It's obvious to me that the market is still positioning for the week so we should have a clear direction within the next couple of days and if not then we sit on our hands and wait for them to determine where we go from here.

Now what i see is this. . . we are currently stuck in between the weekly swing which is 146.37 and 151.57. . .

So the upcoming move is obvious. . .

1) either we take last weeks high and a close above it will lead us into 151.57 and higher 153/155 or we go back an test support at the weekly and monthly pivot at 146.37 with a dip to touch mpp at 145.61 area.

2) A break and close below would suggest the we resume the down trend to 139.70/135/130 area or. . .

A break above daily 55 ema would suggest a new uptrend is forthcoming with 1st target at 153/155 1st target. . . in any case I see 500 pips min each way with little to no effort.

All the in between is what I call account killers - But that's just me!
  • #204,436
  • Oct 19, 2009 7:55am Oct 19, 2009 7:55am
Quoting quecee5
Ping pong trading is a sure way to lose money but I'll leave that to the many traders that enjoy that style.

Me I like to wait for the market to settle down and determine a direction and then follow the money wherever it goes for the short or long-term. . .

With this method patience is required and you don't have to sit in front of the tube all night with exhaustion. Not good to trade when sleep deprived anyway sure way to make mistakes, have mis-steps and give the market back all the gains acquired during your ping-[pong trading.

As stated...
Ti amo Q......this is Bella..
MY OPINION NOT FINANCIAL ADVISE
  • #204,437
  • Oct 19, 2009 8:13am Oct 19, 2009 8:13am
i prefer to break the blue dottet line tomorrow...wait in less than 2 hr for more interesting part

See guys tomorow...Chow..
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  • #204,438
  • Oct 19, 2009 8:14am Oct 19, 2009 8:14am
Looks like i'm in my 20% wrong..but my SL not hit...yet!!
COT: The precious data ignored
  • #204,439
  • Oct 19, 2009 8:48am Oct 19, 2009 8:48am
Based on the PA on EU & AU, I guess they will support the USD (for the 11 am news).. I think we will see UJ going up.. it's just a guess.. not a valid TA..
  • #204,440
  • Oct 19, 2009 8:55am Oct 19, 2009 8:55am
Quoting donfriday
Ti amo Q......this is Bella..
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