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

  • #211,361
  • Jan 7, 2010 7:18am Jan 7, 2010 7:18am
Quoting Beljevina
If we make a reach/break of the 148.617 high of ~2hrs ago, I'm not expecting more than 148.8 in the next 30-90 minutes, after which volume and interest traditionally falls off. I'll probably sell somewhere around here, and look to pick up more during later/Asia; the market's all wound up & anticipating the US jobs report - if it's good, things should fly after that.
i would rather wait to buy if pulls back than selling, but that's just me.
  • #211,362
  • Jan 7, 2010 7:23am Jan 7, 2010 7:23am
Quoting pkimnyc
i would rather wait to buy if pulls back than selling, but that's just me.
I would tend to agree, but I'm heavily loaded up, so I'd like to realize the benefit of some of that; may not unload everything, but given Asia has a tendency to counter other sessions trends, 148 and less could be another load-up opportunity. (esp. if you can bottom pick)
  • #211,363
  • Edited 7:38am Jan 7, 2010 7:28am | Edited 7:38am
Quoting Beljevina
I would tend to agree, but I'm heavily loaded up, so I'd like to realize the benefit of some of that; may not unload everything, but given Asia has a tendency to counter other sessions trends, 148 and less could be another load-up opportunity. (esp. if you can bottom pick)


been enjoying those profits myself.
had a little loss in the beginning, but looking good so far.
eyeing on 147.60 area myself, but only if it gets there.
if not then .... oh well.
  • #211,364
  • Jan 7, 2010 7:32am Jan 7, 2010 7:32am
Quoting Beljevina
I would tend to agree, but I'm heavily loaded up, so I'd like to realize the benefit of some of that; may not unload everything, but given Asia has a tendency to counter other sessions trends, 148 and less could be another load-up opportunity. (esp. if you can bottom pick)
Bel, what broker are you with that allows hedging?
check out my blog: forexmademillionaire dot com
  • #211,365
  • Jan 7, 2010 7:39am Jan 7, 2010 7:39am
Quoting Geppy
Bel, what broker are you with that allows hedging?
Thecollectivefx.com - "membership" is closed for now, but opens up occasionally. They charge a flat monthly fee to execute a certain number of lots. Spreads are among the best (ie., 2.5-3.3 pips on GY right now, 4 during Asia) and you don't have your MT4 commission column mucking up pip calculations. Their LP is citibank, and so you can use VSA with a high degree of accuracy.
  • #211,366
  • Jan 7, 2010 7:48am Jan 7, 2010 7:48am
Quoting Beljevina
Thecollectivefx.com - "membership" is closed for now, but opens up occasionally. They charge a flat monthly fee to execute a certain number of lots. Spreads are among the best (ie., 2.5-3.3 pips on GY right now, 4 during Asia) and you don't have your MT4 commission column mucking up pip calculations. Their LP is citibank, and so you can use VSA with a high degree of accuracy.
Hmmm, interesting. Like I've said in other posts I'm just starting back after a trading hiatus so I have a realtively small account. But my plan is to move to MB Trading and use their MT4 platform and then get back to Interactive Brokers when I really have a good sum (I used to be with them). But neither of those allow hedging so I'd probably keep 100k or so in the MB account to use as my "hedging account" and have the IB one be my main.

Stupid new rules!
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  • #211,367
  • Jan 7, 2010 7:50am Jan 7, 2010 7:50am
oh and by the way... new highs I'm glad USD-Bear is off taking his patience pills.
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  • #211,368
  • Jan 7, 2010 7:55am Jan 7, 2010 7:55am
Quoting Geppy
oh and by the way... new highs I'm glad USD-Bear is off taking his patience pills.
lol Geppy, could you take a look at your private messages?
Don't be a hero. Don't have an ego. Always question yourself
  • #211,369
  • Jan 7, 2010 8:01am Jan 7, 2010 8:01am
Quoting USD-Bear
lol Geppy, could you take a look at your private messages?
hehe, done deal sir!
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  • #211,370
  • Jan 7, 2010 8:04am Jan 7, 2010 8:04am
Would think the 148.40 area to offer some great support now...
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  • #211,371
  • Jan 7, 2010 8:20am Jan 7, 2010 8:20am
Quoting Geppy
Would think the 148.40 area to offer some great support now...
Looks like 148.3 is the support. Should see a trace back up to 148.55, but I think today's NY high is accounted for.
  • #211,372
  • Jan 7, 2010 8:21am Jan 7, 2010 8:21am
gj15m gj30m
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  • #211,373
  • Jan 7, 2010 8:31am Jan 7, 2010 8:31am
Naatha, What is your take on your charts?

A surprising fall back to 148.2. We've now decidedly broken the flourescent green formerly firm trend line of last night, and after a slight retest (to about 148.4/5ish), we're very likely to rebottom 148 eventually; volume's now also falling off and there doesn't appear to be significant buying interest any longer. Done for me, and remain holding my longs.
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  • #211,374
  • Jan 7, 2010 8:37am Jan 7, 2010 8:37am
another view...
gj1h
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  • #211,375
  • Jan 7, 2010 8:52am Jan 7, 2010 8:52am
If I compare strength/weakness analyses of GBP and YEN I see the following:

1. GBP is weak (GU) => negative for GJ longs
2. YEN is very weak (UJ) => positive for GJ longs

On the short run YEN is dominating GJ trend so as long as UJ trend is up I will stay in my long. See UJ below:

Attached Image
Don't be a hero. Don't have an ego. Always question yourself
  • #211,376
  • Jan 7, 2010 9:23am Jan 7, 2010 9:23am
Quoting naatha
another view...
gj1h
naatha,

where is your correction count?
  • #211,377
  • Jan 7, 2010 9:31am Jan 7, 2010 9:31am
Quoting naatha
another view...
gj1h
is this Elliot Wave or naatha wave?
MY OPINION NOT FINANCIAL ADVISE
  • #211,378
  • Jan 7, 2010 9:32am Jan 7, 2010 9:32am
gj1h gj15m

it`s not an Elliot Wave, but „some kind of Fractals or Zigzags counting“, may be & volumes. It is more profitable - for me, than EW. EW is too complicated.
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  • #211,379
  • Jan 7, 2010 9:39am Jan 7, 2010 9:39am
Quoting Beljevina
A surprising fall back to 148.2. We've now decidedly broken the flourescent green formerly firm trend line of last night, and after a slight retest (to about 148.4/5ish), we're very likely to rebottom 148 eventually; volume's now also falling off and there doesn't appear to be significant buying interest any longer. Done for me, and remain holding my longs.
I said I was done, but I lied, because, well, FX trading is like a drug. Have sold all my longs @ the (new & retraced) target area (got 148.57-59) and picked up a short. Was eager to babysit this one given my account was just increased 26%; it was one of those sure-thing trades you can bet more on BUT have mandatory B/E in place via both MT4 and a EA, just to be safe. Am now awaiting a likely 148 revisit in Asia, along with a possible approach/touch of the pivot.
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  • #211,380
  • Jan 7, 2010 9:46am Jan 7, 2010 9:46am
they are meant to be killed by trailling...this is just small portion but intend to hold for long term, wish me luck.
Attached Image (click to enlarge)
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MY OPINION NOT FINANCIAL ADVISE
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