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

  • #4,981
  • Aug 8, 2007 8:00am Aug 8, 2007 8:00am
Quoting zoheir
My humble advise is either concentrate on fundamentals or technical , don't mix,

"Price discounts everything ----- the DOW Jones theory"
I disagree - I've always followed both.. if both are in place - then you know that the moves will be 100% in your favor. Today - techs were in place for GJ to move up, and BOE inflation report pointed out to further hikes - hence you see a blockbuster move. I can guarantee that if techs were in place for a long, but fundamentals (BOE report) came out totally opposite.. you'd be left scratching your head.
  • #4,982
  • Aug 8, 2007 8:04am Aug 8, 2007 8:04am
Quoting VishalJ
I disagree - I've always followed both.. if both are in place - then you know that the moves will be 100% in your favor. Today - techs were in place for GJ to move up, and BOE inflation report pointed out to further hikes - hence you see a blockbuster move. I can guarantee that if techs were in place for a long, but fundamentals (BOE report) came out totally opposite.. you'd be left scratching your head.
well I respect your point of view , but at least in this forum everyone was going long way before the BOE report - but it's a never ending debate anyways.
Wish you luck
  • #4,983
  • Aug 8, 2007 8:09am Aug 8, 2007 8:09am
Perhaps now a retracement?
  • #4,984
  • Aug 8, 2007 8:10am Aug 8, 2007 8:10am
Quoting Angler
hi...

Just wanting to find out what happened to the short Gbp trade taken last night....with an entry @ 2.0197 and a TP 2.0150

The stop was never given and the target was never reached.. so what happened to it...
well if you weren't in that call I don't see why it matters for you
  • #4,985
  • Aug 8, 2007 8:10am Aug 8, 2007 8:10am
whats the expected price most see for retracement?
  • #4,986
  • Aug 8, 2007 8:11am Aug 8, 2007 8:11am
The upmove seemed to be stalling so I closed all my lots at 243.80. No positions open now.
Period : 26 Months Account Balance : +264% Max DD : 14.2%
  • #4,987
  • Aug 8, 2007 8:12am Aug 8, 2007 8:12am
So far price has bounced off of the 23.6 Fibo (from the Weekly Chart run starting around 221.08 to the peak at 251.09). We'll have to see if that level holds or not. Also, the neckline on the inverted head and shoulders has broken but we won't know until 1600GMT if the 4H candle will close above that level or not. The neckline level is currently around 243.50.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.jpg Size: 38 KB
  • #4,988
  • Aug 8, 2007 8:13am Aug 8, 2007 8:13am
hi..


Quoting ovidiu
well if you weren't in that call I don't see why it matters for you
If you dont know thats ok...
  • #4,989
  • Aug 8, 2007 8:14am Aug 8, 2007 8:14am
Quoting khmr
whats the expected price most see for retracement?

well (and I'm no expert at all) I see the uptrend was strong so most likely not more than the 23.6 level which is 242.7 on my charts
PLease don't make any decisions based on what i'm saying, i just sharing with everyone how i see it - might be VERY wrong
  • #4,990
  • Aug 8, 2007 8:18am Aug 8, 2007 8:18am
Quoting zoheir
well (and I'm no expert at all) I see the uptrend was strong so most likely not more than the 23.6 level which is 242.7 on my charts
thanks alot....I was worried bout last night after reading what the inflation report could do to this pair but luckily it worked out in my favor but failed to open any new positions during this up trend...still holding from 240
  • #4,991
  • Aug 8, 2007 8:19am Aug 8, 2007 8:19am
Quoting Angler
hi...

Just wanting to find out what happened to the short Gbp trade taken last night....with an entry @ 2.0197 and a TP 2.0150

The stop was never given and the target was never reached.. so what happened to it...
That one didn't work out for me anyway.. i think the move had run out of steam by then.. i stayed in on a short for a bit and it tested 202 a few times so i chickened out and took about 20 pip loss..

I thought it was worth a punt at the time but guess I got it wrong.. live and learn... I hope
  • #4,992
  • Aug 8, 2007 8:27am Aug 8, 2007 8:27am
Quoting Angler
hi..




If you dont know thats ok...
I don't think anybody here took it as a trade call since Asunlanco doesn't do that for a while now...
He only said "You may be right.. I went short on a very small lot since it broke the 2.0200 support and good 4hr momentum. I hope until 12.00EST there will be enough downside momentum to reach 2.0150. But always with caution"
I think it wolud be most interesting that you also post on the thread the moves that you make, everybody has something to gain, by seeing what others think that good entry points are.
Anyway enjoied the movie, kind of old but if that's the only thing that you found I apreciate the efort
  • #4,993
  • Aug 8, 2007 8:28am Aug 8, 2007 8:28am
Quoting Timingy
I have the .5 fibo level at 244.42 locked on my sights - will hold on to my longs and revisit letting go when we get there. SL locked into some modest profits.

Anywone coming $%^&*"¬$£"%!&$%!%&
I'm onboard. Riding the snake to at least 244.42. Expecting a minor detour south first. http://www.forexfactory.com/images/icons/icon14.gif
  • #4,994
  • Aug 8, 2007 8:47am Aug 8, 2007 8:47am
Quoting auslanco
went short GU @ 2.0197 again
Angler, Which part of this post it says , this is a trade signal?? Or dont you understand English??
  • #4,995
  • Aug 8, 2007 8:47am Aug 8, 2007 8:47am
Hey guys... I rarely post, but had a thought that I wanted to present. I entered a few times on the way up and am loving the move. I've been waiting for the retracement to reenter some more, but it doesn't seem to be happening.

I'm wondering if it won't happen because of triple-interest Wednesday. If a lot of traders have tons of profits, they may hold it until the swap occurs.

If you look at the two majors associated with the GBP/JPY, the USD/JPY seems to have slowed, but is still eeking it's way up - possibly a testament to the interest paid for going long.

On the other hand, the GBP/USD, which pays practically nothing is slowly retracing.

I expect more of a retrace from the pound, than I expect a continuance from the yen, which would say to me that the GBP/JPY will only retrace a few pips before 5:00 PM est, as they will cancel each other out.

I'm looking for reentry, almost directly after the swap, as I believe it will have its due retracement then.

I could be wrong, and I am more than not, but that doesn't mean I lose any money. ...It just puts me in front of the computer, in case my thoughts are correct, and gives me an opportunity to take the trade.

Anyway, these are my thoughts... whether they are right, or wrong, I just wanted to share.

Bob
  • #4,996
  • Aug 8, 2007 8:48am Aug 8, 2007 8:48am
Quoting ovidiu
I don't think anybody here took it as a trade call since Asunlanco doesn't do that for a while now...
He only said "You may be right.. I went short on a very small lot since it broke the 2.0200 support and good 4hr momentum. I hope until 12.00EST there will be enough downside momentum to reach 2.0150. But always with caution"
I think it wolud be most interesting that you also post on the thread the moves that you make, everybody has something to gain, by seeing what others think that good entry points are.
Anyway enjoied the movie, kind of old but if that's the only thing that you found I apreciate the efort

Hey Ovidiu,
Thanks for Backing me up bro.. I really appreciate it
  • #4,997
  • Aug 8, 2007 8:49am Aug 8, 2007 8:49am
Quoting Angler
hi...

Just wanting to find out what happened to the short Gbp trade taken last night....with an entry @ 2.0197 and a TP 2.0150

The stop was never given and the target was never reached.. so what happened to it...
You are not allowed to discuss the (cough) trades that go wrong, they get swept under the carpet, but hey, look on the bright side, at least you get a group hug.
OMG I hope he didnt pull his stop on this one, like he did on the last one!!
Polishing my crystal ball
  • #4,998
  • Aug 8, 2007 8:52am Aug 8, 2007 8:52am
I expected a drop for london session close... taking profits... but it doesn't seem so... Maybe carry trades?
  • #4,999
  • Aug 8, 2007 8:53am Aug 8, 2007 8:53am
Quoting 30XTCi
You are not allowed to discuss the (cough) trades that go wrong, they get swept under the carpet, but hey, look on the bright side, at least you get a group hug.
OMG I hope he didnt pull his stop on this one, like he did on the last one!!

Another....
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  • #5,000
  • Aug 8, 2007 8:54am Aug 8, 2007 8:54am
Well, my first ever posting on this thread - last night - predicting cable dropping below 2.000 soon (and indeed soon after to below 1.9850) looks pretty silly in the light of today's events.

However, I've got to say that my charts still say the same thing. I still think cable is going to drop pretty fast from here, down to the above targets. What's more, I believe that the GBPJPY's going to go down with it.
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