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

  • #224,481
  • May 13, 2010 11:31pm May 13, 2010 11:31pm
I am thinking it would reverse violently in 30-45 minutes time?
Shit Happens
  • #224,482
  • May 13, 2010 11:31pm May 13, 2010 11:31pm
Quoting Pair-me-up
You mean that google is more informative that the combined knowledge of traders on FF?

However, I am impressed with your powers of delegating questions to google. ha ha ha
Fakeout = Fake Breakout

Technically this isn't really a fakeout since it's still dancing within the range set in Asia session. Lot of people though tend to take the term to mean any rapid movement, usually occuring around major news events or end of equity sessions making it seem that price is heading in one direction (the fakeout) before it rapidly whips back in the opposite direction.

As for identifying fake/break-outs that is really just a judgement call and everybody has a different opinion.
  • #224,483
  • May 13, 2010 11:37pm May 13, 2010 11:37pm
I liked your explanation.

I was really surprized how it moved like lightening and then like a snail.

I read how the Asian and US stock markets are down.. Well basically all the economies aren't doing that well. Also, the People in Europe were bragging about how they will defend their currencies..
Well so far they aren't showing and defense todya.
Luck has no place in trading. Leave that for the poker table.
  • #224,484
  • May 13, 2010 11:39pm May 13, 2010 11:39pm
Good place for a fake out would be the low of 134.90ish, usually with fluid bars dissecting the level...
Biggest joker
  • #224,485
  • Edited 11:57pm May 13, 2010 11:44pm | Edited 11:57pm
H4 chart is oversold already, divergence look on M30. I bet retrace to 137.30 1st. Before continue for 133
I maybe wrong.
Enjoy this song
Inserted Video
  • #224,486
  • May 13, 2010 11:45pm May 13, 2010 11:45pm
Quoting Pair-me-up
I liked your explanation.

I was really surprized how it moved like lightening and then like a snail.

I read how the Asian and US stock markets are down.. Well basically all the economies aren't doing that well. Also, the People in Europe were bragging about how they will defend their currencies..
Well so far they aren't showing and defense todya.
well there you go, textbook example. Down Down Down Up Up Up
  • #224,487
  • May 13, 2010 11:46pm May 13, 2010 11:46pm
i am new here, though i have been reading a lot of post here. i was afraid of trading gbp/jpy, cos of the white spread, i trade eu and put take profit at 50 80 pips and that really dealt with me, now i am ready to move gj, but what is going on this kind of move? can some one plz commend on why this behaviour
  • #224,488
  • May 13, 2010 11:47pm May 13, 2010 11:47pm
What's with the volatility?? Last time we had a run up to 139.50 and then a quick drop within 15 minutes during the first hour of London. That's how the drop from 139.50 got started. Let's hope London will take it down with authority again. I still think these up moves are designed to shake out the weak shorts and bull trap as long as the candles don't close higher. The real move will come in 15 minutes. Hopefully it will be down.
  • #224,489
  • May 14, 2010 12:04am May 14, 2010 12:04am
there should be more aggressive buyers at 130.
  • #224,490
  • May 14, 2010 12:12am May 14, 2010 12:12am
a fricking yoyo in the works. Who will win this stuggle?
  • #224,491
  • May 14, 2010 12:16am May 14, 2010 12:16am
Quoting alsup1955
a fricking yoyo in the works. Who will win this stuggle?
bears of course. ill add to my shorts at 134.88
  • #224,492
  • May 14, 2010 12:17am May 14, 2010 12:17am
up a 100 and down a 100 3 times. who wants to bet if it gos back up a 100?
  • #224,493
  • May 14, 2010 12:17am May 14, 2010 12:17am
You are all invited to the bears party. 132.25 would be our first stop for this beast, then we could see 130.75
Eur/Jpy has also gone to test 116.72 (last week close) I can see them screaming down baby down down down!

Quoting Scrat
this baby is going down and i will short every single rally. nothing more to comment here.
  • #224,494
  • May 14, 2010 12:23am May 14, 2010 12:23am
yo yo is right... it's nuts.
  • #224,495
  • May 14, 2010 12:23am May 14, 2010 12:23am
i think its heading back up to screw all u shorts!
  • #224,496
  • May 14, 2010 12:24am May 14, 2010 12:24am
Quoting alsup1955
up a 100 and down a 100 3 times. who wants to bet if it gos back up a 100?
yesterday when it was at 137, i said it would bounce around 135-136 area. funny.. All my bets are on down though.
  • #224,497
  • May 14, 2010 12:25am May 14, 2010 12:25am
Quoting alsup1955
i think its heading back up to screw all u shorts!
check out my blog: forexmademillionaire dot com
  • #224,498
  • May 14, 2010 12:26am May 14, 2010 12:26am
I'm tempted to take long at 135 but I'd rather wait for 135.60 and 136 to short scalp again as many times as it takes. I think price will eventually break downward. I must admit this volatility has provided some very nice easy pips scalping.
  • #224,499
  • May 14, 2010 12:30am May 14, 2010 12:30am
its just a matter of time we have 100 pip candle down shorts..i cant see we go up by even 50 pips
  • #224,500
  • May 14, 2010 12:31am May 14, 2010 12:31am
Wow, looks like black friday
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