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

  • #8,401
  • Aug 15, 2007 12:47pm Aug 15, 2007 12:47pm
Reaching A's First TP point..

mine is 234.482

I might wait for a retracement before going long again..
  • #8,402
  • Aug 15, 2007 12:47pm Aug 15, 2007 12:47pm
Quoting Richardj
Sorry - do you mean 5pm EST today?
yep
  • #8,403
  • Aug 15, 2007 12:50pm Aug 15, 2007 12:50pm
Quoting stevenou
I'm totally new to this whole carry trade thing: So theoretically you could open a position right before 5EST and close it right after 5EST, and make $100 bucks in interest?
It drops instantly after 5. That and the spread, and you will lose money on the deal.
  • #8,404
  • Aug 15, 2007 12:53pm Aug 15, 2007 12:53pm
Quoting markam
It drops instantly after 5. That and the spread, and you will lose money on the deal.
Oh. Then what about if you short it right before 5EST? I guess it won't drop enough to cover for the interest you'd have to pay?
  • #8,405
  • Aug 15, 2007 12:55pm Aug 15, 2007 12:55pm
This dow barrier damn well better hold, or my scalp is not going to be pretty.
  • #8,406
  • Aug 15, 2007 12:55pm Aug 15, 2007 12:55pm
Quoting markam
yep

So is there normally on each Wednesday a big rise in GJ up to that 5 p.m. EST time?
  • #8,407
  • Aug 15, 2007 12:57pm Aug 15, 2007 12:57pm
Quoting markam
This dow barrier damn well better hold, or my scalp is not going to be pretty.
I am with you on this one
  • #8,408
  • Aug 15, 2007 12:58pm Aug 15, 2007 12:58pm
There is a lot of pressure to move the dow up
  • #8,409
  • Aug 15, 2007 1:00pm Aug 15, 2007 1:00pm
Quoting Richardj
So is there normally on each Wednesday a big rise in GJ up to that 5 p.m. EST time?
just enough to make it difficult or impossible to scalp for the interest.
  • #8,410
  • Aug 15, 2007 1:01pm Aug 15, 2007 1:01pm
Markam, Google is amazing... I just googled 'triple wednesday' - and your prediction about it came up in the top 3!

Have you by any chance kept any records - or know where any are - to show historical triple Wednesday price behaviour?
  • #8,411
  • Aug 15, 2007 1:02pm Aug 15, 2007 1:02pm
Hey guys,

please tell me if posts like this are appreciated here. Since we're now looking at the Dow all the time I do think that the state of the US economy is important for our favorite currency pair.

---

BARRIE MCKENNA
Globe and Mail Update

WASHINGTON — — The panic over the subprime loan mess has overshadowed a more disturbing trend: The U.S. consumer spending boom appears to be over, and with it the good times.

The world's largest economy may be on the brink of its first consumer-led recession in nearly two decades, according to Merrill Lynch economist David Rosenberg.

"There are plenty of signs now suggesting that we may be in the early stages of a consumer-led recession for the first time in 17 years," Mr. Rosenberg warned in a report to clients.

"The future is very likely in the hands of the consumer on Main Street, USA, and the latest sign posts are not encouraging."

He and other economists point to several alarm bells: Banks are tightening consumer lending standards, auto sales have slumped to a nine-year low and key retailers keep missing their sales targets.

http://www.theglobeandmail.com/servl...Story/Business
  • #8,412
  • Aug 15, 2007 1:03pm Aug 15, 2007 1:03pm
Quoting markam
just enough to make it difficult or impossible to scalp for the interest.
I guess you're pretty busy right now with GJ... but when you've got more time, I'd be most grateful if you tell me what else you know about this subject.
  • #8,413
  • Aug 15, 2007 1:03pm Aug 15, 2007 1:03pm
If they are having an evening snack were something.... , my TP for scalping is 30 min 5SMA
  • #8,414
  • Aug 15, 2007 1:04pm Aug 15, 2007 1:04pm
Quoting Richardj
Markam, Google is amazing... I just googled 'triple wednesday' - and your prediction about it came up in the top 3!

Have you by any chance kept any records - or know where any are - to show historical triple Wednesday price behaviour?
I don't have anything. I seem to always be stuck with an underwater short on wednesday, and I hate the damn thing. But if you plan to go long based on the US markets performance, you should buy as soon as the market closes. It will probably rise steadily between 4 and 5, just because of the interest payoff.
  • #8,415
  • Aug 15, 2007 1:04pm Aug 15, 2007 1:04pm
retracemnet to 5sma 30 mins
  • #8,416
  • Aug 15, 2007 1:05pm Aug 15, 2007 1:05pm
75 pip profit, heck yeah!

I probably closed too early, but profit is profit!

Thanks Aus and Mark and everyone else who is a charting wiz
  • #8,417
  • Aug 15, 2007 1:05pm Aug 15, 2007 1:05pm
Quoting Kane Rai
Hey guys,

please tell me if posts like this are appreciated here. Since we're now looking at the Dow all the time I do think that the state of the US economy is important for our favorite currency pair.

---

BARRIE MCKENNA
Globe and Mail Update

WASHINGTON — — The panic over the subprime loan mess has overshadowed a more disturbing trend: The U.S. consumer spending boom appears to be over, and with it the good times.

The world's largest economy may be on the brink of its first consumer-led recession in nearly two decades, according to Merrill Lynch economist David Rosenberg.

"There are plenty of signs now suggesting that we may be in the early stages of a consumer-led recession for the first time in 17 years," Mr. Rosenberg warned in a report to clients.

"The future is very likely in the hands of the consumer on Main Street, USA, and the latest sign posts are not encouraging."

He and other economists point to several alarm bells: Banks are tightening consumer lending standards, auto sales have slumped to a nine-year low and key retailers keep missing their sales targets.

http://www.theglobeandmail.com/servl...Story/Business


I don't know what others think... but I appreciate this kind of post!
  • #8,418
  • Aug 15, 2007 1:06pm Aug 15, 2007 1:06pm
Mark...will you enter a long regardless of price if Dow close on a positive today?
  • #8,419
  • Aug 15, 2007 1:06pm Aug 15, 2007 1:06pm
Quoting auslanco
retracemnet to 5sma 30 mins

Well done, Aus!
  • #8,420
  • Aug 15, 2007 1:06pm Aug 15, 2007 1:06pm
my scalp is positive. Lets see if the dow can drop another 30-40 points.
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