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

  • #211,001
  • Jan 4, 2010 9:24am Jan 4, 2010 9:24am
Quoting USD-Bear
Congrats, 20 to go for me
Thanks bro, don't think she'll have any trouble gettin there. 100pips good enough for me though
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  • #211,002
  • Jan 4, 2010 9:25am Jan 4, 2010 9:25am
Quoting Geppy
Boom 149.30 target hit and now waiting to get long... small first long entry sitting at 148.90

it might take a slow step to 147.05.....i also have short just small size waiting for my setup for long..
MY OPINION NOT FINANCIAL ADVISE
  • #211,003
  • Jan 4, 2010 9:27am Jan 4, 2010 9:27am
Quoting donfriday
it might take a slow step to 147.05.....i also have short just small size waiting for my setup for long..
147.00 area would be ideal for longs and I hope it does get there. However, I always scale into my positions because I'm not cocky enough to think I'd ever be right choosing one point and buying/selling there. I'd rather get half of my full position on and never see the other half get filled than take a large draw down slapping a full position on at one price.
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  • #211,004
  • Jan 4, 2010 9:29am Jan 4, 2010 9:29am
Quoting Geppy
Thanks bro, don't think she'll have any trouble gettin there. 100pips good enough for me though
and 100pips for me, but not in for longs yet (maybe ever).....
Don't be a hero. Don't have an ego. Always question yourself
  • #211,005
  • Jan 4, 2010 9:30am Jan 4, 2010 9:30am
Quoting USD-Bear
and 100pips for me, but not in for longs yet (maybe ever).....
haha fair enough. Nice trade!
check out my blog: forexmademillionaire dot com
  • #211,006
  • Jan 4, 2010 9:30am Jan 4, 2010 9:30am
Quoting Geppy
Boom 149.30 target hit and now waiting to get long... small first long entry sitting at 148.90
148.90 because there's some resistance on the left on the M15?
  • #211,007
  • Jan 4, 2010 9:33am Jan 4, 2010 9:33am
Quoting Geppy
147.00 area would be ideal for longs and I hope it does get there. However, I always scale into my positions because I'm not cocky enough to think I'd ever be right choosing one point and buying/selling there. I'd rather get half of my full position on and never see the other half get filled than take a large draw down slapping a full position on at one price.
how ever trend is bullish ...i only see it testing daily broken TL and weekly 5sma ...i am buying on the dip with tight sl..only what i can risk and add on the confirmation...no gambling on major account...
MY OPINION NOT FINANCIAL ADVISE
  • #211,008
  • Jan 4, 2010 9:36am Jan 4, 2010 9:36am
Quoting hwsv07
148.90 because there's some resistance on the left on the M15?
15tf is not good price projection...just for entry..gj just hit 50ema on 1hr and 4hrs Gann but i still have a point of it testting last week breakout..,,,
cheeers..
MY OPINION NOT FINANCIAL ADVISE
  • #211,009
  • Jan 4, 2010 9:40am Jan 4, 2010 9:40am
Quoting hwsv07
148.90 because there's some resistance on the left on the M15?
Doubled checked... first order is actually 148.85 and I can't answer your question right now. I did analysis last night and don't have my charts in front of me currently. I know entries were based on support and fib retracement zones. I'll try to update my blog later tonight with explanations and charts.
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  • #211,010
  • Jan 4, 2010 9:44am Jan 4, 2010 9:44am
how can't a currency move so much!!!??

isn't this beast just crazy ??
  • #211,011
  • Jan 4, 2010 9:44am Jan 4, 2010 9:44am
First long entry filled (small one)
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  • #211,012
  • Jan 4, 2010 9:46am Jan 4, 2010 9:46am
Quoting hwsv07
how can't a currency move so much!!!??

isn't this beast just crazy ??
you have not seen anything, this is not new..GJ is the best and the worst.
MY OPINION NOT FINANCIAL ADVISE
  • #211,013
  • Jan 4, 2010 10:26am Jan 4, 2010 10:26am
UJ is climbing, GU is dropping.. GJ is hanging around..

Make up your mind already
  • #211,014
  • Jan 4, 2010 10:51am Jan 4, 2010 10:51am
well well... volatile as usual daily made a new higher high, and i don't see a lower low yet. from my point of view, this rally is not done and we might see a test of 151.60.

resistance is above @ 149.83, so minor trend is down atm. it MAY go as low as 146.25 without invalidating the bullish bias, but below 146.25 we should seriously start thinking about 141 and below.

so... what should be our strategy? let's look at the trends first:
1. short term - minor trend is down (possibly as low as 146.25 area); resistance currently @ 149.80 area. sell all rallies until 149.80 (or whatever resistance will at that moment) is taken, but keep your stop tight.
2. medium term - intermediate trend is up (possibly to 151.60 and 152.50 areas); buy IF 146.25 is tested, but again, play it close to the vest - you are playing at the edge of long term trend. or buy if first resistance (currently @ 149.80) is taken.
3. long term - dominant trend is still down. sell a test of 151.60 or 152.50; stops should be above 153.30. if these are taken, start thinking bullish long term.

2 charts to support my view for short & medium terms.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj-30min.gif Size: 24 KB
Click to Enlarge Name: gj-h4.gif Size: 28 KB
Nihil Sine Deo.
  • #211,015
  • Jan 4, 2010 12:54pm Jan 4, 2010 12:54pm
Could be forming a pennant here on the 1H... will have to watch it longer to be sure though.
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  • #211,016
  • Jan 4, 2010 12:55pm Jan 4, 2010 12:55pm
forgot the attachment...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.JPG Size: 42 KB
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  • #211,017
  • Jan 4, 2010 1:42pm Jan 4, 2010 1:42pm
am i the only one here who went short 2day for possible 2000 pips? yip its a long term trade .down to 129 area. anyone here with the same view ??
  • #211,018
  • Jan 4, 2010 2:22pm Jan 4, 2010 2:22pm
Quoting Gucc
am i the only one here who went short 2day for possible 2000 pips? yip its a long term trade .down to 129 area. anyone here with the same view ??
post your chart and reasons for that short, please
  • #211,019
  • Jan 4, 2010 2:41pm Jan 4, 2010 2:41pm
Quoting Gucc
am i the only one here who went short 2day for possible 2000 pips? yip its a long term trade .down to 129 area. anyone here with the same view ??
if i say yes i am with you can you see my account?.....trade what you see not what you think....until gj break 139 for now weekly and monthly in bullish mode we already broke first key level on daily and overal resistance is october high 153..
MY OPINION NOT FINANCIAL ADVISE
  • #211,020
  • Jan 4, 2010 2:48pm Jan 4, 2010 2:48pm
Quoting Gucc
am i the only one here who went short 2day for possible 2000 pips? yip its a long term trade .down to 129 area. anyone here with the same view ??
I went short for 100 pips today and I know at least one Bear that was with me.
check out my blog: forexmademillionaire dot com
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