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

  • #721
  • Jul 30, 2007 1:49am Jul 30, 2007 1:49am
The market is indeed range bound with a bias to the upside.Strength indicator on 1hr and 30m just crossed bullissh ,if the four hour corsses in uk open we will have our ride for the Day
  • #722
  • Jul 30, 2007 1:51am Jul 30, 2007 1:51am
Quoting chonpz
so mike whats the market telling u now?
At the moment it's ranging and it seems to keep trying to break down but can't quite manage it. Good time to stay out as it could go either way at the moment - It's all up to the big boys.

Mike
  • #723
  • Jul 30, 2007 1:54am Jul 30, 2007 1:54am
I opened a short position at 239.86 (SL 240.69 & TP237.76) and I'm almost -20pips. I'm set for work and contemplating whether to leave it on or not. It keeps worsen and I'm not sure of the market direction. Anybody wanna advice me?
  • #724
  • Jul 30, 2007 1:55am Jul 30, 2007 1:55am
Mike W all indicators on the lower charts are bullish ,Where do you see it trying to break lower..Do your charts say lower?
  • #725
  • Jul 30, 2007 1:55am Jul 30, 2007 1:55am
Europe is only just getting started...first group in are for the Frankfurt Open at 2am EDT, followed by the Brits with the London Open at 3am EDT. This is often a volatile time before a direction is established.

So far, this bounce has been led up by the USDJPY - it last turned up 4 mins before GBPJPY and whilst it managed a slightly higher high, GBPJPY did not and neither, so far, has cable.....but we need to see what the Brits want to do.....they may push it one way to take out a few stops before settling into the main pre US open move.
Trading Levels with WRBs
  • #726
  • Jul 30, 2007 1:56am Jul 30, 2007 1:56am
Quoting MikeW
At the moment it's ranging and it seems to keep trying to break down but can't quite manage it. Good time to stay out as it could go either way at the moment - It's all up to the big boys.

Mike
Hi Mike,

I picked up Auslancos call earlier so I'm short and down at the moment. In Auslancos absence will you give us a call if it changes to bullish and we need to get out ?
  • #727
  • Jul 30, 2007 1:58am Jul 30, 2007 1:58am
Quoting auslanco
239.86 SL 240.96 TP 237.76

do u are wait for stop loss???
  • #728
  • Jul 30, 2007 1:59am Jul 30, 2007 1:59am
Quoting hycebee
I opened a short position at 239.86 (SL 240.69 & TP237.76) and I'm almost -20pips. I'm set for work and contemplating whether to leave it on or not. It keeps worsen and I'm not sure of the market direction. Anybody wanna advice me?
to advice you on this would be to advise you against Aus's calls...
  • #729
  • Jul 30, 2007 1:59am Jul 30, 2007 1:59am
Quoting bundubill
Hi Mike,

I picked up Auslancos call earlier so I'm short and down at the moment. In Auslancos absence will you give us a call if it changes to bullish and we need to get out ?
Its picking up highs as we go into the London open - if I wasn't already short at .85 I'd take up a shor position at this point. It should start to bend and come down in the next hour.
  • #730
  • Jul 30, 2007 2:02am Jul 30, 2007 2:02am
Quoting sideusprime
Mike W all indicators on the lower charts are bullish ,Where do you see it trying to break lower..Do your charts say lower?
No my charts definitely don't say lower. When I said it was trying to break down I was watching a little tug of war going on where there was a lot of attempts to take the price down only to be put back up again with more ease. At the moment the bulls are winning. But just remember that it hasn't broken out of the range. It's like a rubber band being wound up and we're just waiting for someone to let it go.
  • #731
  • Jul 30, 2007 2:02am Jul 30, 2007 2:02am
Short @ 240.15
  • #732
  • Jul 30, 2007 2:02am Jul 30, 2007 2:02am
Quoting Timingy
Its picking up highs as we go into the London open - if I wasn't already short at .85 I'd take up a shor position at this point. It should start to bend and come down in the next hour.
We've also filled the weekend gap now - 240.4 was the favourable entry point earliar!
  • #733
  • Jul 30, 2007 2:03am Jul 30, 2007 2:03am
-70pips !!!
  • #734
  • Jul 30, 2007 2:04am Jul 30, 2007 2:04am
dang london... they are buying... ahhh...
  • #735
  • Jul 30, 2007 2:04am Jul 30, 2007 2:04am
Quoting Timingy
Its picking up highs as we go into the London open - if I wasn't already short at .85 I'd take up a shor position at this point. It should start to bend and come down in the next hour.
Do yu have technical analysis for this level? 240.45
  • #736
  • Jul 30, 2007 2:05am Jul 30, 2007 2:05am
better to exit short and await auslanco return
  • #737
  • Jul 30, 2007 2:06am Jul 30, 2007 2:06am
Quoting hycebee
-70pips !!!
Yelp ! Our shorts are underwater - 240.55
  • #738
  • Jul 30, 2007 2:07am Jul 30, 2007 2:07am
Quoting hycebee
I opened a short position at 239.86 (SL 240.69 & TP237.76) and I'm almost -20pips. I'm set for work and contemplating whether to leave it on or not. It keeps worsen and I'm not sure of the market direction. Anybody wanna advice me?
If that was the SL that Auslanco gave you then stick with it. If you kept with the recommended 1%-2% then no real harm done if it stops out.

Mike
  • #739
  • Jul 30, 2007 2:08am Jul 30, 2007 2:08am
1h 4h still very bullish!
bail out or wait until SL?
  • #740
  • Jul 30, 2007 2:08am Jul 30, 2007 2:08am
it's broken through 240.40... uhmm... there's no significant barrier holding this thing from going to the 240.90...
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