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

  • #223,561
  • May 6, 2010 11:39am May 6, 2010 11:39am
Bro dont worry and dont feel sorry about urself

There are still plenty pips to collect next week
daily ema50 is at 141 now so will be waiting for price there
To parity is not so far away as many thinks.



Quoting Geppy
Don't feel too bad... I left 300 pips on the table which was nearly what I ended up banking on my entire position... woohoo I got HALF of the move *FML*

LOL... your demo account's taunting cracks me up!
  • #223,562
  • May 6, 2010 11:46am May 6, 2010 11:46am
I'm in with longs, but watch that TL - we're not through it yet. 137.7 needs to hold, and we're probably dipping to retest. Am scalping too. Things aren't looking good over on UJ.
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  • #223,563
  • May 6, 2010 11:52am May 6, 2010 11:52am
we had a nice run down, i took half of my profits @ 140.something, and now waiting to see if there are signs of bottoming. london closed = 137.30; i would say we have a temporary bottom in place. until this level is broken, expect a potential retracement... or consolidation. upper limit for this range is ny open @ 141.54. p.s. i can't attach charts - ??? anything wrong with the forum?
Nihil Sine Deo.
  • #223,564
  • May 6, 2010 11:58am May 6, 2010 11:58am
Quoting Geppy
Again I think NFP is a non-event for yen crosses... BUT, even if numbers aren't great I think they'll have to cook the books to try and instill some confidence in the US markets.
hey dude..

watch this chart very closely,,watch at the arrows and watch on every bounce that history repeat itself..it come from Q or someone here who mentioned it...

so where was the next boune ? it was at 135.70 ..wonder if will hold this time .. and that bounce from prev trend went up to 151.50 ...
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  • #223,565
  • May 6, 2010 11:59am May 6, 2010 11:59am
FWIW - 1150 or so is a pretty good support on the S&P.

With jobs tomorrow, could expect a nice short rally.

NM
  • #223,566
  • May 6, 2010 12:03pm May 6, 2010 12:03pm
Quoting Scrat
... or consolidation. upper limit for this range is ny open @ 141.54. p.s. i can't attach charts - ??? anything wrong with the forum?
Posting looks to be working for me. Am completing the last chart for the benefit of any newish members. Looks like the retest is in place: candle rejected, stopping volume stepped in, and a nice bull candle to boot.

141 would be nice, but I feel we've got a huge wild card, with the UK elections. Given Brown is definitely gone, I'm hearing that even a hung parliament could be workable - hopefully optimism reigns supreme.

Hope you collected many pips!
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  • #223,567
  • May 6, 2010 12:05pm May 6, 2010 12:05pm
Quoting fullhouse
hey dude..

watch this chart very closely,,watch at the arrows and watch on every bounce that history repeat itself..it come from Q or someone here who mentioned it...

so where was the next boune ? it was at 135.70 ..wonder if will hold this time .. and that bounce from prev trend went up to 151.50 ...
lol could you imagine driving up to 151 in a week or two? Oh my god that'd be fun!
check out my blog: forexmademillionaire dot com
  • #223,568
  • May 6, 2010 12:14pm May 6, 2010 12:14pm
I think it will make a lower low at around 129 in a few weeks, then go back up again to the daily ema 200. Price has been confined within the downward sloping channel on the weekly chart. So I guess short now to 129 then buy at 129 up to the daily ema 200. Then short from the daily ema 200 again. Rinse and repeat.
  • #223,569
  • May 6, 2010 12:25pm May 6, 2010 12:25pm
no up. just posted a new low for the day, after london close.
Quoting Beljevina
Posting looks to be working for me. Am completing the last chart for the benefit of any newish members. Looks like the retest is in place: candle rejected, stopping volume stepped in, and a nice bull candle to boot.

141 would be nice, but I feel we've got a huge wild card, with the UK elections. Given Brown is definitely gone, I'm hearing that even a hung parliament could be workable - hopefully optimism reigns supreme.

Hope you collected many pips!
Nihil Sine Deo.
  • #223,570
  • May 6, 2010 12:26pm May 6, 2010 12:26pm
Wow, check that PA - a new low ... hopefully everyone had BE set on their longs, in case we tanked further ... they don't usually cybermonkey it this way ... !
  • #223,571
  • May 6, 2010 12:28pm May 6, 2010 12:28pm
Quoting Beljevina
Wow, check that PA - a new low ... hopefully everyone had BE set on their longs, in case we tanked further ... they don't usually cybermonkey it this way ... !
Hi. What draws that diagonal trendline on your charts - the one that goes top left to bottom right. Thanks
  • #223,572
  • May 6, 2010 12:38pm May 6, 2010 12:38pm
Quoting gillybabe
Hi. What draws that diagonal trendline on your charts - the one that goes top left to bottom right. Thanks
Within MT4, use the line draw tool to connect the tips/bottoms of candles, which seem appropriate. Takes some practice, but GJ is very TL sticky and you can eventually predict where it will land and where you'd be comfortable buying/selling.
Attached Image
  • #223,573
  • May 6, 2010 12:38pm May 6, 2010 12:38pm
Quoting ukdaytrader
There's a reason for the continued sell-off IMO; market wants lower prices. Any previous S+Rs do not hold when market moves like this. A retracement looks obvious, but now we are below 139.4, there does not seem too much wood between here and 137.
Quicker than I thought tbh.
  • #223,574
  • May 6, 2010 12:39pm May 6, 2010 12:39pm
oh but they do. imagine that after such a fall, IF they are to drive prices up then they first need to run the stops and kick us out of longs. what, do you think they'd let every tom dick and harry to just go long like that? i don't think so. but... IF. for now, i was actually expecting 135.65, so theoretically there is more room to go down.
Quoting Beljevina
Wow, check that PA - a new low ... hopefully everyone had BE set on their longs, in case we tanked further ... they don't usually cybermonkey it this way ... !
Nihil Sine Deo.
  • #223,575
  • May 6, 2010 12:42pm May 6, 2010 12:42pm
i didn't actually expect to get to 135.65 in just one day... but hey, it works for me.
Quoting Scrat
oh but they do. imagine that after such a fall, IF they are to drive prices up then they first need to run the stops and kick us out of longs. what, do you think they'd let every tom dick and harry to just go long like that? i don't think so. but... IF. for now, i was actually expecting 135.65, so theoretically there is more room to go down.
Nihil Sine Deo.
  • #223,576
  • May 6, 2010 12:45pm May 6, 2010 12:45pm
Quoting Scrat
oh but they do. imagine that after such a fall, IF they are to drive prices up then they first need to run the stops and kick us out of longs. what, do you think they'd let every tom dick and harry to just go long like that? i don't think so. but... IF. for now, i was actually expecting 135.65, so theoretically there is more room to go down.
It's Goldman Sachs. They're pissed at us, and they're playing the sweep'n'take-out-their-stops video game at their terminals.
  • #223,577
  • May 6, 2010 12:45pm May 6, 2010 12:45pm
Quoting Scrat
oh but they do. imagine that after such a fall, IF they are to drive prices up then they first need to run the stops and kick us out of longs. what, do you think they'd let every tom dick and harry to just go long like that? i don't think so. but... IF. for now, i was actually expecting 135.65, so theoretically there is more room to go down.
Agreed... not sure we'll actually see your 135.65 but this current push down (even if it stops now) probably made 90% of longs shit themselves and bail out.
check out my blog: forexmademillionaire dot com
  • #223,578
  • May 6, 2010 12:50pm May 6, 2010 12:50pm
Quoting Beljevina
Within MT4, use the line draw tool to connect the tips/bottoms of candles, which seem appropriate. Takes some practice, but GJ is very TL sticky and you can eventually predict where it will land and where you'd be comfortable buying/selling.
Thanks Beljevina. It looked like you had something that drew it as it does not hit the tops of a lot of candles - just specific ones
  • #223,579
  • May 6, 2010 12:55pm May 6, 2010 12:55pm
hey ukday... any news regarding the elections?
check out my blog: forexmademillionaire dot com
  • #223,580
  • May 6, 2010 1:09pm May 6, 2010 1:09pm
okay what just happened?
"Don't trade to trade . . . trade to win." - James16
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