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ovaforty replied Nov 24, 2008yes my bias is long, but in consolidation.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
i added 2 more shorts at 145.71
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
try closing a portion of your position, and leave a remnant to attain your targets. No risk of loss is a good thing to me.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
You called it correctly earlier. You saw the downside potential. Next time leave some house money to finish what you saw.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
i took partial profits and left some house money to catch any more downside. No risk. Most traders exit their winning positions too early.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
i took more profit at the 15 min candle close. New 4 hour candle moms and hourly candle reversed. House money from 146.37 now.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
Next 4 hour candle will tell us more.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
My downside target during this current daily candle period is the white 5 sma high at 145 area, then the yellow 5 sma low around 143.50/14300 area.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
Daily candle shows a breakout of the 5 sma channel on the previous candle. This current candle will retest the breakout.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
I am shouting consolidation, consolidation, consolidation....
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
I just took partial profit on my short position.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
Tokyo is back from lunch break now. Shanghai closed for lunch now.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
last time the price hit that double top area it dropped hard. I would expect a smaller drop this time.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- ovaforty replied Nov 24, 2008
What are you seeing Malcomb?
Auslanco - GBP/JPY and GBP/USD (newstrade)