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

  • #230,121
  • Aug 2, 2010 10:38pm Aug 2, 2010 10:38pm
myfxbook is a great tool, and it'll definitely reduce the amount of message spamming that has been going on here lately


Quoting Fudomyo
Why do so many people on this thread type the exact same way?









Gucc,

If you want to "prove" something, sign up for a verified myfxbook account.
With a verified account you can show that you are trading live with a large balance, and show people you are consistantly profitable. The numbers don't lie, and it will be a perfect way to silence your critics.

Bragging on a forum and posting a little picture of numbers saying it's an account balance proves nothing.

It's very easy to sign for the verified account with myfxbook and...
  • #230,122
  • Aug 2, 2010 11:11pm Aug 2, 2010 11:11pm
Quoting Beljevina
GL on that - I've got a little short too - would still remain hugely bullish should we hit 136.
I agree with you, I'm bullish too, but this short trade is just tooo tempting.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #230,123
  • Aug 2, 2010 11:22pm Aug 2, 2010 11:22pm
Quoting Fudomyo
btw: I was thinking of organizing a trade off in September.

All the top guns on FF trading for a month with verified live accounts on myfxbook. I think it would be very educational to see who is really making money and who is just hot air.

I'll join in.
Fudomyo,

I don't consider myself a "top gun" in trading, but I do make enough to hold my own. (up 70% this year since Jan 1rst.)
I think it would be a fun experience and also yes very educational.
I'll join in when you organize this.
Maybe I can learn a thing or 2 or 20

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #230,124
  • Edited 11:47pm Aug 2, 2010 11:33pm | Edited 11:47pm
I went digging into my memory and chart archives. Those around a while will remember the March 2010 melt-up of GY. It went from 131 to 139 when few expected it, and as much as that was for many, it then did basically a beeline from 134 to 144. Duped many bears with that type of PA. Killed many retail accounts I'm quite sure.

Key of course is where UJ & GU were:

March 22 - UJ @ 90. April 2 - UJ @ 94.6
March 22 - GU @ 1.495. April 2 - GU @ 1.529.
March 22 - GJ @ 134.5. April 2 - GJ @ 144.8.


Posting it to remind everyone of what could happen. And please do discuss. The big question of course is are we currently in beeline mode or doing the wave retraces?
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  • #230,125
  • Aug 2, 2010 11:46pm Aug 2, 2010 11:46pm
Quoting Beljevina
I went digging into my memory and chart archives. Those around a while will remember the March 2010 melt-up of GY. It went from 131 to 139 when few expected it, and as much as that was for many, it then did basically a beeline from 134 to 144. Duped many bears with that type of PA. Killed many retail accounts I'm quite sure.

Key of course is where UJ & GU were:

March 22 - UJ @ 90. April 2 - UJ @ 94.6
March 22 - GJ @ 1.495. April 2 - GU @ 1.529.
March 22 - GJ @ 134.5. April 2 - GJ @ 144.8.

Posting...
Beljevina, you have a little typo there, the red GJ should be GU
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  • #230,126
  • Aug 3, 2010 12:14am Aug 3, 2010 12:14am
Quoting wormboy
Okay, a rejection off the W1 res level. Still flat & would want a bearish close negating previous H4 candle as a trigger for the short setup. However, a close above the current resistance level & I'll be looking to buy as price will likely test 141.
Gotta wait till tomorrow tho

Good luck everyone
hi guys

So far the rejection saw off the W1 res level held. However the bearish candle which negates the H4 candle (arrow) for a valid short setup is not there yet.
Once that happens, we'll have the possible double top to trade off as well.
But since none of the mentioned scenarios had materialised yet, price can still retest the resistance again later & take it out for a bullish continuation.
So, my position remains flat.

Good luck everyone
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Thank You
  • #230,127
  • Aug 3, 2010 12:28am Aug 3, 2010 12:28am
Quoting cohiba pips
I see what your saying wb, but i can't take it as a vaild signal with volumes dropping off and would look at the daily and buy on any retrace but for me personally ill be waiting to short higher
hi cp,

I wasn't trading it at the time of posting. I mentioned my position being flat.
I do agree if the D1 close yesterday is anything to go by, it'll be wise to be in a long position. But for myself, being flat, having a D1 close smack under resistance is not an ideal place to be buying, that's the reason for my saying that if price can clear the current W1 res level I'll be going long. And if there is a rejection I will be selling into the next support. Then maybe buy on the retrace like you mentioned
Because for me, there is no point in waiting out the gy retrace or get caught piling up the wrong way, because even when this pair retrace it moves by the hundreds . Last week's retrace was a good example, many were anticipating 141 level test, yet the beast retraced & moved near 400 pips the other way.

Good luck to you mate
Thank You
  • #230,128
  • Aug 3, 2010 12:41am Aug 3, 2010 12:41am
Quoting KillerWhale
Fudomyo,

I don't consider myself a "top gun" in trading, but I do make enough to hold my own. (up 70% this year since Jan 1rst.)
I think it would be a fun experience and also yes very educational.
I'll join in when you organize this.
Maybe I can learn a thing or 2 or 20

Shamu
Cheers mate

70% is quite respectable.

I think it would be fun too. September seems good timing since a lot of people will be on holiday in August. (including me)

Quoting Beljevina
Consider this: a majority of COT longs is not impossible, and implies 1000 pips upside. Sure, this is likely a play for big boys to short from better levels, but, if that's hundreds of pips and months away, why question the rationality and morality.

hi Bel,

lol.... from my trading journal July 12th.

Quoting Fudomyo
I think we are building toward a major breakout, 1000 + move ...but 5 weeks of consolidation is enough to do anyone's head in. ...
We already got 700 pips on GU, but UJ has been dampening GY. That may change soon.

In the meantime waiting to see what happens at 15860 before I go short. If we get a proper pullback it should test 15700, but watch 15808 area as well. With the momentum so far, I'm not keen on shorting without decent confirmation. Frankie could drop and reverse.

my current chart is here
http://www.forexfactory.com/showthre...80#post3917180
  • #230,129
  • Aug 3, 2010 12:44am Aug 3, 2010 12:44am
Quoting fxghost
Yes, nothing new. Buying on dips gbp/jpy pair. We gonna watch for some support and see what happens there. Now it is at 137.00 area. Wait for some 123 patterns near support before european session.
123 formed and I entered long at 137.20, stop loss at 136.95. Let's see what happens.
  • #230,130
  • Aug 3, 2010 1:10am Aug 3, 2010 1:10am
Quoting fxghost
123 formed and I entered long at 137.20, stop loss at 136.95. Let's see what happens.
Closed my short from 137.50 and am now long 137.23. I don't believe in the short to 136.00 anymore.
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  • #230,131
  • Aug 3, 2010 1:18am Aug 3, 2010 1:18am
Quoting KillerWhale
Closed my short from 137.50 and am now long 137.23. I don't believe in the short to 136.00 anymore.
Why? What's changed in your thinking? Frankie opening bullish?

Not exactly the major push up at the open i'd expect if we were to have another bullish day, but let's see.

Still bearish bias here.....
  • #230,132
  • Aug 3, 2010 1:33am Aug 3, 2010 1:33am
GBPJPY move towards 139+ possibly upto 140.10

AUDJPY (refer to the image below). The pair has completed a sizable retracemnt and I'm expecting a bullish breakout upto 81.35. Ideally this trade could be entered when the 5,3,3, Stochs points up on the next 4hr bar.
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  • #230,133
  • Aug 3, 2010 1:33am Aug 3, 2010 1:33am
Quoting ukdaytrader
Why? What's changed in your thinking? Frankie opening bullish?

Not exactly the major push up at the open i'd expect if we were to have another bullish day, but let's see.

Still bearish bias here.....
Just closed my long @ 137.48
I'm flat now and that is good because it is 12:32 AM here and I need some sleep. Unfortunately I still need my daytime job for a while.

Happy trading through London.

Shamu.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #230,134
  • Aug 3, 2010 1:38am Aug 3, 2010 1:38am
Quoting Fudomyo
Cheers mate

70% is quite respectable.

I think it would be fun too. September seems good timing since a lot of people will be on holiday in August. (including me)




hi Bel,

lol.... from my trading journal July 12th.



We already got 700 pips on GU, but UJ has been dampening GY. That may change soon.

In the meantime waiting to see what happens at 15860 before I go short. If we get a proper pullback it should test 15700, but watch 15808 area as well. With the momentum so far, I'm not keen on shorting without decent confirmation....

i dont have to post my fxbook ,,and i cant used that service,,my live accounts is not MT4 and fxbook dont support other platforms..

im not a scalper ,like many of you .. so you wont see any action on fxbook on a daily basis,,but here ity goes .."here is my cowboy calls"

short eur/jpy 114.50 ---stop at114.70 now target 105.50
short gbp/jpy 137.40 --stop at 139.60 ---target 128.60 (50%) rest 123.80
short aud/jpy 78.80 ---stop 79.50 --target 74.20 ,later in Q4 62
long eur/aud @ 1.4380 ---stop 1.4040 (possition entry) targets is very far!

short aud/usd @ 0.9130 --stop @ 0.9250 ( target is open)

2 pendings waiting---

eur/usd - short at 1.3280 --stop 1.3350 -target 1.24
usd/chf--- long at 1.0292 --stop 1.0190 (target is open)

im not changing anything at the moment !!

so here is my manually fxbook trades ...
  • #230,135
  • Aug 3, 2010 1:43am Aug 3, 2010 1:43am
Quoting gucci
i dont have to post my fxbook ,,and i cant used that service,,my live accounts is not MT4 and fxbook dont support other platforms..

im not a scalper ,like many of you .. so you wont see any action on fxbook on a daily basis,,but here ity goes...
You are just an idiot.
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  • #230,136
  • Aug 3, 2010 1:45am Aug 3, 2010 1:45am
...that was a nasty little trick that Frankfurt just pulled. Shame on them.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #230,137
  • Aug 3, 2010 1:49am Aug 3, 2010 1:49am
UJ isn't driving GJ up; it's in fact hit TL resistance and is stuck in the basement, although it's got to break out of the wedge it's getting into. So, we do have sterling "strength."

I'm also suspicious of a possible Frankie fakeout - GU and GJ could well roll over - might get up to 1.596 or so, and then down to 1.58x. Just a guess, and am not discounting a run at 1.6 still: there's so much US data this week, that sterling and the yen crosses are bound to get whipped around. US home data is the major one in the morning, and should be crappy, therefore a possible catalyst for GU up, and GY down.
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  • #230,138
  • Edited 2:01am Aug 3, 2010 1:57am | Edited 2:01am
... and we have the FED talking about the upcoming fight with deflation, and Greenspan still trying to make people believe that his forecasting was right, but that global forces went astray. Hey? Alan, come on, you must surely have known all of what was occurring, realized that people listen to your every syllable, and so knew that you were a major market mover - there is more to you that just 'apparent' incompetence. How's the house on the hill and cars in the garage? Doing well, I suppose.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #230,139
  • Aug 3, 2010 1:59am Aug 3, 2010 1:59am
Quoting 45Condor
...that was a nasty little trick that Frankfurt just pulled. Shame on them.
though that was little neat tbh bro
That spike towards the D1 resistance allowed me to place a trade, just one small lot tho nothing serious yet. Would love to see this roll over & die.

Good luck to you!
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Thank You
  • #230,140
  • Aug 3, 2010 2:02am Aug 3, 2010 2:02am
09:15 is my prediction for the touch, and then once all are onboard, she makes her turn.

Just a guess.

Quoting wormboy
though that was little neat tbh bro
That spike towards the D1 resistance allowed me to place a trade, just one small lot tho nothing serious yet. Would love to see this roll over & die.

Good luck to you!
Author of: For Pip's Sake! (Available at Amazon... :-) )
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