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

  • #218,781
  • Mar 19, 2010 1:34am Mar 19, 2010 1:34am
Well, that's enough downside for me from my GBP/JPY short earlier today during the NY session. I want to be able to watch March Madness tomorrow without peeking at the Forex market all day. Have a good one. You guys/gals are great traders.
  • #218,782
  • Mar 19, 2010 1:43am Mar 19, 2010 1:43am
Quoting Clouds
depends your time frame, cause when it broke 139.5 it later came up to test 139.5 again before resumption of trend. there never was an up trend , imo. just saying
Not on the daily no but I think the downtrend has definitely been disturbed. Lower timeframes have definitely seen some bullishness.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #218,783
  • Mar 19, 2010 1:50am Mar 19, 2010 1:50am
Don't think the current 137.3 is the bottom. I'll be looking to 137.1/0 as the potential bottom test; after that it's 136.6. Getting to 137 will be about 70/80 pips of downage test, and frequently there's more. Related to GJ, GU looks like it's got more room to fall, perhaps today. EURUSD is in ominous shape, about 50 pips away from the 4th test to break bottom, so there's risk there to impact GU, GY. Wherever GJ lands, will be looking to buy.
  • #218,784
  • Mar 19, 2010 1:51am Mar 19, 2010 1:51am
I think it's more tempting to go above 140.00 than it is below 130.00. When you start looking at those big round numbers and were almost there. Sometimes when we get near those big round numbers crazy things happen. The markets passion starts to open up. Right now bears have the advantage but you have look at it from the other perspective where it's just a matter of a bump higher and were in the 140s. The big money controllers have to be thinking that and it could happen.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #218,785
  • Edited 2:23am Mar 19, 2010 2:02am | Edited 2:23am
hey everyboody, great thread, this is my first post in FF.

i was after some oppinions regarding my trade entry and reasoning. i has a sell stop for gj placed at 137.75. my reasoning for my stop there was a break of the trendline extending from yesterdays low at 137, from what i saw to be a downtrend continuation pattern... i'm bearish for this pair. i'll look to cover my position around 137 if support there otherwise ride it down to wpp.

this was the initial breakout point, i imagine there wil be some time delay before this is posted.

is this an ok trade and reasoning? or is this the kind of trade dealers love?

thanks, Angus
  • #218,786
  • Mar 19, 2010 2:06am Mar 19, 2010 2:06am
Quoting england33
I think it's more tempting to go above 140.00 than it is below 130.00.
i think 120 seems for sure to be tested, and a break of that is 'likely'. we'll see.
  • #218,787
  • Mar 19, 2010 2:21am Mar 19, 2010 2:21am
Quoting Beljevina
Don't think the current 137.3 is the bottom. I'll be looking to 137.1/0 as the potential bottom test; after that it's 136.6. Getting to 137 will be about 70/80 pips of downage test, and frequently there's more. Related to GJ, GU looks like it's got more room to fall, perhaps today. EURUSD is in ominous shape, about 50 pips away from the 4th test to break bottom, so there's risk there to impact GU, GY. Wherever GJ lands, will be looking to buy.
i like this number..opsss..GU 5180..huhu just nice at my daily 38.2%
  • #218,788
  • Mar 19, 2010 2:24am Mar 19, 2010 2:24am
Quoting Clouds
i think 120 seems for sure to be tested, and a break of that is 'likely'. we'll see.
welcome 140 and no such thing 120 for the time being..let confim this statement by end March close....
  • #218,789
  • Mar 19, 2010 2:28am Mar 19, 2010 2:28am
Quoting Clouds
i think 120 seems for sure to be tested, and a break of that is 'likely'. we'll see.
It could be. I can't argue that fundamentally but in a manipulated market anything can happen.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #218,790
  • Mar 19, 2010 2:34am Mar 19, 2010 2:34am
loading short @ 137.70 with SL -50 pip....let's see what the market could bring....closed all my short in geppy and cable.....left only one position....let the price penetrates either oneof the level....now i'm looking for 135.10.....for my SL....ratio of 2:1 profit/loss. still watch for 136.60 for any rebounce....GL and green pips for everybody!
  • #218,791
  • Mar 19, 2010 2:43am Mar 19, 2010 2:43am
Just entered a long @ 137.63.
Looking for a test of 138.7 sometime today...
  • #218,792
  • Mar 19, 2010 2:47am Mar 19, 2010 2:47am
entered short for another retest on 137.03 level
The market will deceive you. Make your own judgement.
  • #218,793
  • Mar 19, 2010 2:47am Mar 19, 2010 2:47am
That was a real stops eater...Gbp still has room to drop but Jpy is in a tight spot..We are lucky if this can go down to 137 but I am not buying yet
  • #218,794
  • Mar 19, 2010 2:55am Mar 19, 2010 2:55am
Quoting Myrza
That was a real stops eater...Gbp still has room to drop but Jpy is in a tight spot..We are lucky if this can go down to 137 but I am not buying yet
...patient is virtue
  • #218,795
  • Mar 19, 2010 3:04am Mar 19, 2010 3:04am
Quote
http://cdn.forexfactory.com/images/s...m/thumbsup.gif...patient is virtue

  • #218,796
  • Mar 19, 2010 3:06am Mar 19, 2010 3:06am
Quoting Clouds
i think 120 seems for sure to be tested, and a break of that is 'likely'. we'll see.
agreed with you, clouds. there is a huge bearish flag in play on the daily chart. a close below 136.00 should confirm the pattern.
  • #218,797
  • Mar 19, 2010 3:07am Mar 19, 2010 3:07am
well..i don't think that it will break till 120..it's too far away...mb till 130 till the ned of the month but i don't think that it'll go that far..
  • #218,798
  • Mar 19, 2010 3:07am Mar 19, 2010 3:07am
Quoting Mr.Elliott
great mate..at least they can smell an overall trend + some prediction and some good entry....

just one of them still new where just 2 week in forex where i need to stress more on him tonight for thier last class. The rest 2 of them iso far so good...

g
  • #218,799
  • Mar 19, 2010 3:09am Mar 19, 2010 3:09am
Quoting Myrza
That was a real stops eater...Gbp still has room to drop but Jpy is in a tight spot..We are lucky if this can go down to 137 but I am not buying yet
Clear bearish divergence on H1 UJ
Suspect surprises south
Don't be a hero. Don't have an ego. Always question yourself
  • #218,800
  • Mar 19, 2010 3:10am Mar 19, 2010 3:10am
Quote
great mate..at least they can smell an overall trend + some prediction and some good entry....

just one of them still new in 2 week in forex where i need to stress more on him tonight for thier last class. The rest 2 of them is doing good...

happy to hear that...at least all your time spend wisely....need more people like you......
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