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

  • #232,901
  • Nov 4, 2010 12:28pm Nov 4, 2010 12:28pm
GJ IN UPTREND
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  • #232,902
  • Nov 4, 2010 12:39pm Nov 4, 2010 12:39pm
http://www.forexfactory.com/harigp
  • #232,903
  • Nov 4, 2010 9:48pm Nov 4, 2010 9:48pm
Moooooooooooorning all.

Price breaks yeterday's High .

Also hit the 61.8 fib of 135.03 - 126.43 daily swing ,which also coincides with 100ema .

A break above the UTL should push the price to 78.6 fib,else should retrace from here.
Closed all my longs here.

Lots of news today and also DIWALI festival .

Catch you all next week.

Good luck to all and trade safe.
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  • #232,904
  • Nov 4, 2010 9:53pm Nov 4, 2010 9:53pm
Quoting honeybhi
Moooooooooooorning all.

Price breaks yeterday's High .

Also hit the 61.8 fib of 135.03 - 126.43 daily swing ,which also coincides with 100ema .

A break above the UTL should push the price to 78.6 fib,else should retrace from here.
Closed all my longs here.

Lots of news today and also DIWALI festival .

Catch you all next week.

Good luck to all and trade safe.

Nice chart, I have us at the top of the uptrending channel. I'm short. maybe 131, 130.80, unless it drops quick, then 130.50ish.
  • #232,905
  • Nov 5, 2010 7:09am Nov 5, 2010 7:09am
Price retraced 78.6 of the previous swing 130.10 -131.71 and found demand there.

Now price trading between 61.8 and 78.6 of the 1hr down move .

Those looking to short should enter here with 10-20 pips stops just above the high 131.71.

Those looking to long should have bought at 78.6 of the down move.For fresh entry ,best is to wait for the break of 131.71 area.

Long or short keep the stops in place.
Good luck all.
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  • #232,906
  • Nov 5, 2010 7:27am Nov 5, 2010 7:27am
I traded the bounced off 130.80/70 3 times after closing my short @ 131.

I'm short here, lots of resistance up here (not that it can't break it with NFP coming)

Good luck to all, I'll probably leave soon, great week! later.
  • #232,907
  • Nov 5, 2010 4:39pm Nov 5, 2010 4:39pm
ready to short?
good weekend for all traders
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  • #232,908
  • Nov 5, 2010 9:51pm Nov 5, 2010 9:51pm
Quoting riko2705
ready to short?
good weekend for all traders
I'm short as well. I usually only look for 30-50 pips and I think that's attainable probably before Tokyo Sunday. I'll be looking to buy, around 130.50 again.
  • #232,909
  • Nov 6, 2010 4:01am Nov 6, 2010 4:01am
good luck
  • #232,910
  • Nov 6, 2010 4:03am Nov 6, 2010 4:03am
scrat ifyou are around could you please analyse ?
thank you nice weekend
  • #232,911
  • Nov 6, 2010 4:47pm Nov 6, 2010 4:47pm
@forextine

First time posting, been reading this gbpjpy for a while, wanted to know if you find that method profitable forextine? to me gbpjpy looks like a buy in the shorter term charts (15min, 60min, and even 240 min), but I see the same sell setup in the daily and weekly charts. If you are to play the sell in the daily do you find it profitable to only take it for a 30-50 pip gain? are you seeing something in the shorter terms that I'm missing? This is not to be mean, I'm just trying to work on my strategy and look for inspiration from others. From what i've been working with, it seems that I see different trends on different time frames, but if I'm going to short off of a daily chart I will use a larger pip stop and larger pip target, and scale it to the time frame? Curious to hear what has worked for you.

Thanks

Mark
  • #232,912
  • Nov 7, 2010 2:48am Nov 7, 2010 2:48am
Quoting hamburglergt
@forextine

First time posting, been reading this gbpjpy for a while, wanted to know if you find that method profitable forextine? to me gbpjpy looks like a buy in the shorter term charts (15min, 60min, and even 240 min), but I see the same sell setup in the daily and weekly charts. If you are to play the sell in the daily do you find it profitable to only take it for a 30-50 pip gain? are you seeing something in the shorter terms that I'm missing? This is not to be mean, I'm just trying to work on my strategy and look for inspiration from others....
I like 30-50 pips cause that seems pretty easy to attain off a 1hr chart (even on 15min it's pretty easy). I have a daily and a 3hr chart up at all times, then I switch back between the 15min and 1hr charts. If I see a a place I want to short via 1hr or 3hr chart, I short and then on the 15min I watch it and sometimes close for 10-20pips, then it bounces, and do it again, rinse and repeat because that same short still looks good on the higher time frames. I'll stop and leave a TP in when I'm 1) busy or sleeping, or 2) if it doesn't bounce up high enough for me to re-short comfortably.

Anyways, I'll post the chart I was looking at when I went short Nov4th and was looking for 130, and then show you what I liked on the 5th to go long, and then I'll show you why I'm short. The higher time frames rule which is why I rarely go long if a 15min says buy, and 3hr says short.

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  • #232,913
  • Nov 7, 2010 7:44pm Nov 7, 2010 7:44pm
I closed cause I didn't like the support it was building, then of course it drops right through the next candle lol. I'll wait for a significant drop before going long, or a test of 132+ before shorting.
  • #232,914
  • Nov 8, 2010 3:46am Nov 8, 2010 3:46am
Good day to all.
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  • #232,915
  • Nov 8, 2010 1:42pm Nov 8, 2010 1:42pm
I dont trade on this pair, but I draw my chart for somebody.
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  • #232,916
  • Nov 8, 2010 2:08pm Nov 8, 2010 2:08pm
Quoting honeybhi
Good day to all.
this "bounce" doesn't seem it's working, might have to go lower before bouncing higher.
  • #232,917
  • Nov 9, 2010 4:10am Nov 9, 2010 4:10am
Thread is DEAD????
Markets are not Random, they are designed!
  • #232,918
  • Nov 9, 2010 4:28am Nov 9, 2010 4:28am
Quoting Raza
Thread is DEAD????
What a shame...So many good traders used to post here
  • #232,919
  • Nov 9, 2010 4:53am Nov 9, 2010 4:53am
Quoting gio123
What a shame...So many good traders used to post here
Guess they became too good to POST here..... and know what they are doing...
Markets are not Random, they are designed!
  • #232,920
  • Nov 9, 2010 1:35pm Nov 9, 2010 1:35pm
It is too bad, GJ is pretty much all I trade, and it's fun to swap ideas/charts with others.
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