DislikedMy short trades are still open, I added more shorts in the 150 and 151 areas, if 145.70 is reached and broken then some TP's will be @ 141.50, and the rest is 135.90 only if 141.50 is reached and broken.
This is a swing trade.Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #208,841
- Nov 26, 2009 7:29pm Nov 26, 2009 7:29pm
- Joined Jun 2006 | Status: Trend is not my friend | 1,492 Posts
- #208,842
- Nov 26, 2009 7:33pm Nov 26, 2009 7:33pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Strong statement..
With US equities closed, European equities were crushed overnight, posting the biggest drop in seven months on the back of Dubai's attempt to delay repayments of debt. The concern here was the possibility of them defaulting on the loans.....Eurostoxx fell 3.4%, the FTSE100 shed 3.2%, and the DAX lost 3.3%.
London will be another Kaboom time..
Where is msniper? I wonder what he thinks about the Dubai now..
With US equities closed, European equities were crushed overnight, posting the biggest drop in seven months on the back of Dubai's attempt to delay repayments of debt. The concern here was the possibility of them defaulting on the loans.....Eurostoxx fell 3.4%, the FTSE100 shed 3.2%, and the DAX lost 3.3%.
London will be another Kaboom time..
Where is msniper? I wonder what he thinks about the Dubai now..
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- #208,843
- Nov 26, 2009 7:50pm Nov 26, 2009 7:50pm
Amen to that.... feel much better and more relax now that I stepped away. For those who went long around the 139 area, congrads... I am going to wait and see what london does, before I make another move... I know things fall faster than they assend normally, and when the move up does come, it may take a while, but with the beast (GBP/JPY) one never knows. For myself, once the neutral pivot point is broken successfully, I will think of taking a long... But for now, I will just sit around and enjoy the profits I've banked... Unless something is extremely clear to me.
By the way, does anyone know now what is a Strong resistance & Strong support now on GBP/JPY?
By the way, does anyone know now what is a Strong resistance & Strong support now on GBP/JPY?
yes... after a big move like this I go for a walk and clear my head. (which I'm going to do now! lol)
it's easy to get caught in the emotion of the moment, so that's the best time to take a break. ...and when you come back your pips are still in the bank.
- #208,844
- Nov 26, 2009 7:59pm Nov 26, 2009 7:59pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
No indicators needed!!
Follow the trend
Follow the trend
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- #208,845
- Nov 26, 2009 8:00pm Nov 26, 2009 8:00pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
Beware of Hong Kong open..
Amen to that.... feel much better and more relax now that I stepped away....
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- #208,846
- Nov 26, 2009 8:07pm Nov 26, 2009 8:07pm
- Joined Dec 2008 | Status: Trader | 2,753 Posts
Shorts still in control IMO.
Look at the attached 5m chart. I wouldn't normally post a 5m chart with volumes, but this is interesting.
The elipse indicates the temporary bottom at 139.4. Now look at the volumes for each respective price bar.
Drop from 141.5 - 139.66 - volume 258
Rise from 139.64 - 139.70 - volume 399 (long top wick indicates rejection of higher price, more sellers)
Next 2 bars consolidated with bears and bulls doing battle.
Now, the important bar to check is the low volume move up from 139.91 - 141.08. (volume 154). This is a reasonably clear indication that sellers had stepped out rather than buyers stepping in.
A retest of the last low is very probable IMO.
Chart.
Look at the attached 5m chart. I wouldn't normally post a 5m chart with volumes, but this is interesting.
The elipse indicates the temporary bottom at 139.4. Now look at the volumes for each respective price bar.
Drop from 141.5 - 139.66 - volume 258
Rise from 139.64 - 139.70 - volume 399 (long top wick indicates rejection of higher price, more sellers)
Next 2 bars consolidated with bears and bulls doing battle.
Now, the important bar to check is the low volume move up from 139.91 - 141.08. (volume 154). This is a reasonably clear indication that sellers had stepped out rather than buyers stepping in.
A retest of the last low is very probable IMO.
Chart.
- #208,847
- Nov 26, 2009 8:08pm Nov 26, 2009 8:08pm
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
watch out new entries..monthly Gann....today is friday so becareful..
MY OPINION NOT FINANCIAL ADVISE
- #208,848
- Nov 26, 2009 8:11pm Nov 26, 2009 8:11pm
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #208,850
- Nov 26, 2009 8:40pm Nov 26, 2009 8:40pm
- | Joined Dec 2005 | Status: It's only money | 1,413 Posts
TRADE FOR SWAP
- #208,852
- Nov 26, 2009 9:11pm Nov 26, 2009 9:11pm
- Joined Jan 2007 | Status: Trader | 3,719 Posts
Nihil Sine Deo.
- #208,853
- Nov 26, 2009 9:26pm Nov 26, 2009 9:26pm
- Joined Jan 2009 | Status: bye FF | 8,806 Posts
MY OPINION NOT FINANCIAL ADVISE
- #208,856
- Nov 26, 2009 10:09pm Nov 26, 2009 10:09pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
Author of: For Pip's Sake! (Available at Amazon... :-) )
- #208,857
- Edited 10:36pm Nov 26, 2009 10:24pm | Edited 10:36pm
I banked my profits as well, and just waiting by the sidelines... Now it depends on how London will react to such a fall... Will they look at this as a buying opportunity to get something on sale, or will they look at this as an opportunity short the thing some more? It's hard to say at the moment what the smart money will do. However, the price action for the past hour makes me cautious at the moment. I would say Shorts & Longs both be careful at this point... However, as quiet as it is kept, I know some of the more skillful traders have been making a nice profit buying on the dips, based on a few private messages I recieved.. 
For now, i am happy I banked my pips and just in wait mode..
For now, i am happy I banked my pips and just in wait mode..
Out by a month (Black Thursday), but hey, these are uncertain times.
The terms Black Monday and Black Tuesday are also applied to October 28 and 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929.
- #208,860
- Nov 26, 2009 10:54pm Nov 26, 2009 10:54pm
- Joined Aug 2009 | Status: Technical fundamentalist | 2,202 Posts
And the conspiritist in me is still thinking of the 'technical glitch' that affected the LSE yesterday... 
Author of: For Pip's Sake! (Available at Amazon... :-) )