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

  • #225,221
  • May 18, 2010 10:29pm May 18, 2010 10:29pm
Quoting fullhouse
im long and target above,,but its a long way and momentum is still down...but what i mean is that,,if we close above 133,then up we go,,its the last ress for another drop ... its the key area ...

good place for shorts,,if we make it that high,,but i kinda still see above..
unless the news will bring us down.
i don't agree, i think 134.3 is, im drawing a TL from the 14th to the 18th.
  • #225,222
  • May 18, 2010 10:44pm May 18, 2010 10:44pm
Quoting hindart
Thanks for the comment!

As of now resistance is 131.2. if that is taken it should go to 132.1 where I will short else I will join you once my BE Stop is triggered.
happy pipping!
Locked 50 pips, will close it at exactly 132.1, will see what to do then.
  • #225,223
  • May 18, 2010 11:02pm May 18, 2010 11:02pm
Good morning.... Taking a look at the charts this morning I see we are still on track for shorting later on today...Different area's I would look at would be 131.80 and 132.70 primarily.... The reason why is both are bear channels on the 15 minute and hourly charts...

On a higher TF I would look at your 4 hour chart where it is in a bear triangle, A good place to put another short with good R/R is at 133 or slightly below it...

If you look at your weekly chart we still have a way to go before touching LTL but the momentum is there....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp15min1.jpg Size: 62 KB
Click to Enlarge Name: gbp7.jpg Size: 75 KB
Click to Enlarge Name: gbpweekly1.jpg Size: 68 KB
Traderdesk -
  • #225,224
  • May 18, 2010 11:31pm May 18, 2010 11:31pm
Quoting special0nefx
You like the song...Great...1 way ticket to 125
..125? not yet...remember today have MPC meeting and price need to push higher back to at least 133.4-134 area or little bit higher as what Q mentioned in the last few day before that 125....

straight away 125, not like that.It mush push higher first them slump...

otherwise if it happen the other way around and hit my SL, then i will pump maximum for long.

am having another song with my long from 130.50 (buy limit hit) and already lock BE+50. TP =134...let c this London open...

good luck

g
  • #225,225
  • May 19, 2010 12:04am May 19, 2010 12:04am
Ummmm, up we go...no no wait, up we go..... no it's down..... wait i've got it!!! we might go up, at which point we might go down, and then we may go up again...lol
Biggest joker
  • #225,226
  • May 19, 2010 12:06am May 19, 2010 12:06am
Quoting grashid
..125? not yet...remember today have MPC meeting and price need to push higher back to at least 133.4-134 area or little bit higher as what Q mentioned in the last few day before that 125....

straight away 125, not like that.It mush push higher first them slump...


g
I wish people would stop saying stuff like this. Price does not "have to go" anywhere. Could we go straight down to 125? Absolutely. In fact, all time frames have plenty of room to move lower especially since the correction we saw from 131.00 to 134.80 last night.

There are no absolutes here and definitely no "musts"... as soon as you start with this mentality is as soon as you'll find yourself stuck in a bad trade and burning through your account. It's one thing to think this way as you then only harm yourself. When you write this stuff you have the potential for n00bs to follow blindly which could be costly to them too.

Grashid, I don't mean to pick on you... you definitely aren't the only one making statements like this. My apologies. I just think it's important we don't let our own biases creep so strongly into our posts.
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  • #225,227
  • May 19, 2010 12:06am May 19, 2010 12:06am
Quoting grashid
..125? not yet...remember today have MPC meeting and price need to push higher back to at least 133.4-134 area or little bit higher as what Q mentioned in the last few day before that 125....

straight away 125, not like that.It mush push higher first them slump...

otherwise if it happen the other way around and hit my SL, then i will pump maximum for long.

am having another song with my long from 130.50 (buy limit hit) and already lock BE+50. TP =134...let c this London open...

good luck

g
Is back 133 again...BUy? Looking for 130 should be.
Since london is open in 2 hours, still have time go down
  • #225,228
  • May 19, 2010 12:16am May 19, 2010 12:16am
You need to have a basic, solid, preferably non indicator way of telling you when you are wrong on your anticipations.
There's nothing wrong with making predictions, having expectations etc, IMO, but you definetely need a level which will tell you when you are wrong, and start looking at alternative scenarios.
Biggest joker
  • #225,229
  • May 19, 2010 12:18am May 19, 2010 12:18am
Quoting special0nefx
Is back 133 again...BUy? Looking for 130 should be.
Since london is open in 2 hours, still have time go down
Well here is a 30 minute chart that shows a UTL at around 133 so I would imagine that a few traders are looking for PA to reach near that level before shorting heavily...
Attached Image (click to enlarge)
Click to Enlarge Name: gbp30min1.jpg Size: 78 KB
Traderdesk -
  • #225,230
  • May 19, 2010 12:21am May 19, 2010 12:21am
Quoting Traderdesk
Well here is a 30 minute chart that shows a UTL at around 133 so I would imagine that a few traders are looking for PA to reach near that level before shorting heavily...
It's the highest possible retrace to 133. I prefer see 132 1st...Only get more momentum to reach there.
What your view on frankie open? I predict frankie open Euro will tank up which may help G push together
  • #225,231
  • May 19, 2010 12:30am May 19, 2010 12:30am
Quoting special0nefx
It's the highest possible retrace to 133. I prefer see 132 1st...Only get more momentum to reach there.
What your view on frankie open? I predict frankie open Euro will tank up which may help G push together
I agree and I play with probabilities so whether it is on a time-frame of 15, 30, 4 hour, daily trendlines I like to start or add to those positions...

133 and 134 levels though is a great place for R/R if you believe that 129 or 125 will be PA eventual targets..
Traderdesk -
  • #225,232
  • May 19, 2010 12:34am May 19, 2010 12:34am
I think I just got a great short entry at 131.80 at 15M 50ema. Looking for another bear massacre tonight. Price could be trading in the low 130's prior to MPC.
  • #225,233
  • May 19, 2010 12:38am May 19, 2010 12:38am
Quoting Traderdesk
I agree and I play with probabilities so whether it is on a time-frame of 15, 30, 4 hour, daily trendlines I like to start or add to those positions...

133 and 134 levels though is a great place for R/R if you believe that 129 or 125 will be PA eventual targets..
yeah, i won't miss up this chances again.
  • #225,234
  • May 19, 2010 12:41am May 19, 2010 12:41am
We might see 132.60 finally after all. It's the 50% of the move down from 134.30. I will add my second short there.
  • #225,235
  • May 19, 2010 12:59am May 19, 2010 12:59am
Quoting grashid
..125? not yet...remember today have MPC meeting and price need to push higher back to at least 133.4-134 area or little bit higher as what Q mentioned in the last few day before that 125....

straight away 125, not like that.It mush push higher first them slump...

otherwise if it happen the other way around and hit my SL, then i will pump maximum for long.

am having another song with my long from 130.50 (buy limit hit) and already lock BE+50. TP =134...let c this London open...

good luck

g
Would have been nice if you let us know the buy limit before price gets there. Bottom picking is great if you can catch the bottom but most of the time, you won't. This type of trading is seriously flawed. Do you have another buy limit somewhere maybe 129.80? Post it first so we'd know. In case price dips into 129 and take out your sl as well.
  • #225,236
  • May 19, 2010 1:07am May 19, 2010 1:07am
Bit of a tug-of-war here as GBP/USD and USD/JPY try to hold on to 1.4200 and 0.9200 respectively. My bet would be they don't, but we'll see.
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  • #225,237
  • May 19, 2010 1:08am May 19, 2010 1:08am
Looks like it's having trouble getting over 131.8. If it's to continue, it'sneed to dip down, probably a 100 pips or so to build further support. GY saw buying volume in the last hour at 131, but apparently not enough. Then again, EURUSD is getting nothing but bearish sentiment and FTSE futures are set for a down open, so, lower it might be IMHO.
  • #225,238
  • May 19, 2010 1:13am May 19, 2010 1:13am
Quoting Geppy
I wish people would stop saying stuff like this....
Its ok.

Remeber guys and all of you. What ever i post here is exactly what i saw and that is my position. However this thread is only to raise our point of view and ot a decision to be use for your entry in your trading as this is not signal service.

All the risk is purely 100% own by you. So just filter out. Like yesterday people keep calling long n long..i just keep smile while they may overlook some noisy of outside market talk.

So remember, dun follow blindly. This is my trade and point of view and just use to check with ur own. If found not valid or wrong, just ignore it and stick to ur own view or collect some other view.

Be smart and be flexible especially in ur trade and i no need to keep post, oh i chage my TP, change my entey from long to short or bal bla bla..that we can talk in skype etc.

good luck guys

p/s: That is why i hope 118 coming as fast as she can, as am thinking to ....
  • #225,239
  • May 19, 2010 1:19am May 19, 2010 1:19am
Quoting grashid
Its ok.

Remeber guys and all of you... ....
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  • #225,240
  • May 19, 2010 1:22am May 19, 2010 1:22am
Quoting $teve
Would have been nice if you let us know the buy limit before price gets there. Bottom picking is great if you can catch the bottom but most of the time, you won't. This type of trading is seriously flawed. Do you have another buy limit somewhere maybe 129.80? Post it first so we'd know. In case price dips into 129 and take out your sl as well.
that pending order i seldomly use n seldomly can get it.
only use if i saw some oppurtunity like yesterday for daily 300pips h/l daily ranging price....this is usually normal GY behaviour. maybe lucky aslo i can say.

like now, its already 300pips ranging? no right so dun hope to have this set-up. Just watch n wait is the best way if u already miss the train..

ok that it guys..time to me to move and be back in London open

p/s: wtah ur H4 on GY n UJ as well as EY vs ur M15. what did ur chart say.

good luck

g
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