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

  • #211,601
  • Jan 11, 2010 6:18am Jan 11, 2010 6:18am
I'm waiting for the 150.25 area or so to take some profits (not much just some) and then put my longs back on after a slight pullback.
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  • #211,602
  • Jan 11, 2010 7:53am Jan 11, 2010 7:53am
This my current trade GBPJPY ....Waiting for MM zone and then i will put SL on +1 and waiting to hit TP...




Cheers
Attached Image (click to enlarge)
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"Buy on fear, sell on greed !!!
  • #211,603
  • Jan 11, 2010 8:13am Jan 11, 2010 8:13am
Quoting Petar_Serbia
This my current trade GBPJPY ....Waiting for MM zone and then i will put SL on +1 and waiting to hit TP...




Cheers
You're risking 141 pips to make 62? What are you on crack?
check out my blog: forexmademillionaire dot com
  • #211,604
  • Jan 11, 2010 8:19am Jan 11, 2010 8:19am
Quoting Geppy
You're risking 141 pips to make 62? What are you on crack?
Where you see 141 ? lol

I risk 50 to took 100...Look better...


Cheers i must go now
"Buy on fear, sell on greed !!!
  • #211,605
  • Jan 11, 2010 8:32am Jan 11, 2010 8:32am
Quoting Petar_Serbia
I risk 50 to took 100...Look better...

Cheers i must go now
Ok I read something wrong, but you risked 79 for 62... still a terrible risk/reward.
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  • #211,606
  • Jan 11, 2010 9:00am Jan 11, 2010 9:00am
Just added more at 149.06 and plan to add more if we see a deeper retracement.
check out my blog: forexmademillionaire dot com
  • #211,607
  • Jan 11, 2010 9:12am Jan 11, 2010 9:12am
Quoting Geppy
Just added more at 149.06 and plan to add more if we see a deeper retracement.
You're a brave man Geppy, would go along with UJ bouncing but it doesn't yet, if it clears 92.00 support it's KABOOM-time for me
Don't be a hero. Don't have an ego. Always question yourself
  • #211,608
  • Jan 11, 2010 9:23am Jan 11, 2010 9:23am
Quoting Geppy
Just added more at 149.06 and plan to add more if we see a deeper retracement.

in the last week,,ive read about 16 times ,that you add on for longs on the geppy.. where are you at with the lots ?? 1/2/3/4/5/????
  • #211,609
  • Jan 11, 2010 9:25am Jan 11, 2010 9:25am
So do most people look at UJ while trading GJ? Do you look for similar patterns as in candles, or mostly UJ in relation ship to Daily Pivot and S1/R1 etc...

So that when UJ breaks pivot, then GJ should also?

thanks!
  • #211,610
  • Jan 11, 2010 9:27am Jan 11, 2010 9:27am
Quoting USD-Bear
You're a brave man Geppy, would go along with UJ bouncing but it doesn't yet, if it clears 92.00 support it's KABOOM-time for me
I really don't think it's that brave. The medium term trend is up... I'm just buying on dips and I'm buying SMALL. My overall average is still below 148.

Quoting Gucc
in the last week,,ive read about 16 times ,that you add on for longs on the geppy.. where are you at with the lots ?? 1/2/3/4/5/????
Yes I have added a lot and only taken off a little, but I add in very small increments. As I've stated before I'm still getting back into trading after a bit of a hiatus and I have a very modest account. My additions are usually in the size of micro lots (a few at a time). Right now, my total position is about 11 minis (bit more) with an average buy price below 148.
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  • #211,611
  • Jan 11, 2010 9:41am Jan 11, 2010 9:41am
No qualms buying more here at 148.50 either.
check out my blog: forexmademillionaire dot com
  • #211,612
  • Jan 11, 2010 9:41am Jan 11, 2010 9:41am
Quoting pilotui
So do most people look at UJ while trading GJ? Do you look for similar patterns as in candles, or mostly UJ in relation ship to Daily Pivot and S1/R1 etc...

So that when UJ breaks pivot, then GJ should also?

thanks!
For GJ 2 things are interesting to know strength/weakness of GBP and strength weakness of JPY. As reference I take the USD then GU gives me indication if GBP is weak or strong and UJ gives me indication if JPY is weak or strong.
The argument to not only look at GJ (the trading pair) is:
1. USD and GBP are both flawed currencies (in my view)
2. therefore UJ is telling me more than GU
3. JU is a lot more trending then GJ, so major trends can be explored better there.
I tend to look mostly at trendlines instead of pivots/waves and fibs

But then I'm not a pro....
Don't be a hero. Don't have an ego. Always question yourself
  • #211,613
  • Jan 11, 2010 9:42am Jan 11, 2010 9:42am
GY had trouble getting to 149.5/6 and has now retreated to 38.2% of the rise from Asia @ 148.78, and will probably touch the 23% point. That coincides with a trendline that I'll be watching to hold, and will be looking @ PA for more longs. Had a smallish short from 149.3 which I'll probably close soon.
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  • #211,614
  • Jan 11, 2010 9:45am Jan 11, 2010 9:45am
short @ 148.50 and will be adding at better prices (if seen).....
Don't be a hero. Don't have an ego. Always question yourself
  • #211,615
  • Jan 11, 2010 9:52am Jan 11, 2010 9:52am
Quoting USD-Bear
short @ 148.50 and will be adding at better prices (if seen).....
haha, interesting...
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  • #211,616
  • Jan 11, 2010 9:54am Jan 11, 2010 9:54am
Quoting USD-Bear
For GJ 2 things are interesting to know strength/weakness of GBP and strength weakness of JPY. As reference I take the USD then GU gives me indication if GBP is weak or strong and UJ gives me indication if JPY is weak or strong.
The argument to not only look at GJ (the trading pair) is:
1. USD and GBP are both flawed currencies (in my view)
2. therefore UJ is telling me more than GU
3. JU is a lot more trending then GJ, so major trends can be explored better there.
I tend to look mostly at trendlines instead of pivots/waves and fibs

But...
For that. I appreciate the input!
  • #211,617
  • Jan 11, 2010 9:54am Jan 11, 2010 9:54am
I don't like selling on support or buying on resistance...
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  • #211,618
  • Jan 11, 2010 9:56am Jan 11, 2010 9:56am
Quoting Geppy
haha, interesting...
What would we do with equal minds......
Don't be a hero. Don't have an ego. Always question yourself
  • #211,619
  • Jan 11, 2010 9:56am Jan 11, 2010 9:56am
Quoting Geppy
No qualms buying more here at 148.50 either.
Don't forget there's a high likelihood we're going to be hanging out here during Asia's PA tonight, since the pivot is @ 148.6ish, so, we'd usually go below that. UJ showing marked weakness & is 90 pip down in the last hour - I believe this to be the NFP effect. I've bought GY around here, and would estimate others have too, given significant buying volume at the bottom. With Tokyo returning from holidays in their next session, a pop (yen weakness) would not surprise me. Including same chart as before, current & updated with BetterVolume Indicator.
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  • #211,620
  • Jan 11, 2010 9:58am Jan 11, 2010 9:58am
... wrong chart included in last post. This one's updated & shows a healthy bounce; given trading volumes will start falling off shortly, price should hold around here.
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