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

  • #8,661
  • Aug 15, 2007 4:45pm Aug 15, 2007 4:45pm
Quoting mandoaddam
I'm short GU goes to 1.9743
How is GU goes to 1.9743 happened? It is at 1.9862 now.
  • #8,662
  • Aug 15, 2007 4:48pm Aug 15, 2007 4:48pm
It's having a tough time breaking 231.00 Also don't forget we still have a couple of hours until the Asian session starts..

I'm out of my short and will wait to see what happens a little later.
  • #8,663
  • Aug 15, 2007 4:48pm Aug 15, 2007 4:48pm
I am looking at my chart & I have my pivots plotted & we will be at S1 at about 230.80. So maybe after a 200 pip drop we maybe liable for a retrace.

I am a noob as well.

Just a thought.
Le singe est dans l'arbre
  • #8,664
  • Aug 15, 2007 4:48pm Aug 15, 2007 4:48pm
We're officially 2000 pips lower than a month ago. Hurray for world economy, the carry trade and irresponsible lenders / consumers.
Greed and impatience are our greatest enemies.
  • #8,665
  • Aug 15, 2007 4:49pm Aug 15, 2007 4:49pm
actually I think a little below 229,228.50 probably
I'm also short btw since earlier
Boyy,trap money,like bear hunters.
  • #8,666
  • Aug 15, 2007 4:49pm Aug 15, 2007 4:49pm
By the way I don't know if anybody recognised that gbpjpy has 2000 pips fall circles... And we are about now has hallen 2000 pips. Just a small note
  • #8,667
  • Aug 15, 2007 4:51pm Aug 15, 2007 4:51pm
do you guys think the bottom of this daily channel is possible?? i mean the rest of the trendlines and channels where broken...

i thought it would be heighly unlikely, but considering the force of this downmovement i think the bottom at about 230.05 is possible...

plz share me your openions..


Attached Image (click to enlarge)
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  • #8,668
  • Aug 15, 2007 4:52pm Aug 15, 2007 4:52pm
Quoting brok
By the way I don't know if anybody recognised that gbpjpy has 2000 pips fall circles... And we are about now has hallen 2000 pips. Just a small note

as if you were with me when i posted my chart... :
  • #8,669
  • Aug 15, 2007 4:53pm Aug 15, 2007 4:53pm
Quoting brok
By the way I don't know if anybody recognised that gbpjpy has 2000 pips fall circles... And we are about now has hallen 2000 pips. Just a small note
I hope your are right. I would love to support my Elliot Wave theory applications with fib + a little extra It would be about time to go back up, but with GBP weakening there is little chance. Maybe couple of years from now we will be talking about 3000 pips fall circles

(Love Istanbul by the way, visited a couple of months ago - maybe a little hard on the tourists on the bazaar)
Greed and impatience are our greatest enemies.
  • #8,670
  • Aug 15, 2007 4:55pm Aug 15, 2007 4:55pm
markam

I know how you feel, Monday I watched as it stayed flat then went to bed, woke up to see it moved 100 pips

Tuesday watched it stay flat went to bed and bingo it moved 100 pips...Last night I set a long position with a target of 234.60....

Woke up to see it missed it by 10 pips, luckly my Trailing stop has a BE feature which I set to +10, but then I see it fell 200 pips...

so....It seems that the idea is I will tell everyone when I go to bed so you all know the market will move....

Glenn
  • #8,671
  • Aug 15, 2007 4:56pm Aug 15, 2007 4:56pm
Quoting trader8686
How is GU goes to 1.9743 happened? It is at 1.9862 now.
sory I meant that's my target (short from 1.9945)
If you count on hope in any trade ……. Get out of it
  • #8,672
  • Aug 15, 2007 4:57pm Aug 15, 2007 4:57pm
Quoting brok
By the way I don't know if anybody recognised that gbpjpy has 2000 pips fall circles... And we are about now has hallen 2000 pips. Just a small note
1998-2001 8400 pips
1993-1995 10,900 pips
1983-1984 11,000 pips
Those are the 3 big ones. This could do the same
  • #8,673
  • Aug 15, 2007 4:58pm Aug 15, 2007 4:58pm
Quoting markam
1998-2001 8400 pips
1993-1995 10,900 pips
1983-1984 11,000 pips
Those are the 3 big ones. This could do the same
Agree, markam.
  • #8,674
  • Aug 15, 2007 4:59pm Aug 15, 2007 4:59pm
Quoting quickpips
It's having a tough time breaking 231.00 Also don't forget we still have a couple of hours until the Asian session starts..

I'm out of my short and will wait to see what happens a little later.
you're absolutely right , the reason i'm holding to my short and again could be very wrong is that I beleive it always needs a higher volume to push a price up than the volume needed to drag a price down, so if the bottom channel was broken in this low volume session the worse case scenario would be a stall and surely not a rally upwards .... or so i tend to beleive
  • #8,675
  • Aug 15, 2007 5:01pm Aug 15, 2007 5:01pm
Quoting markam
1998-2001 8400 pips
1993-1995 10,900 pips
1983-1984 11,000 pips
Those are the 3 big ones. This could do the same

Yes you are right but looking at those years we have to also bear in mind the JPY interest rates(which now in favor of carry trades with the GBP rates)...

Indeed I really don't care if economies are hurt or not as long as they go up and down I have put this statement just to be aware...
  • #8,676
  • Aug 15, 2007 5:01pm Aug 15, 2007 5:01pm
i dont know how to trade this bear market the skid is just too fast... and am still trying to undertand A's charting.

anyway survival is key for newbies like me.

shorted GJ @ 231.36
SL @ 231.30 (at least i have 6 pips)

TP @ 230


more power to all!!
  • #8,677
  • Aug 15, 2007 5:01pm Aug 15, 2007 5:01pm
se what I mean now ? we're @ 230.95 .... much easier to drag a price down during low volume sessions than to take them up
  • #8,678
  • Aug 15, 2007 5:04pm Aug 15, 2007 5:04pm
Quoting glenn5t
markam

I know how you feel, Monday I watched as it stayed flat then went to bed, woke up to see it moved 100 pips

Tuesday watched it stay flat went to bed and bingo it moved 100 pips...Last night I set a long position with a target of 234.60....

Woke up to see it missed it by 10 pips, luckly my Trailing stop has a BE feature which I set to +10, but then I see it fell 200 pips...

so....It seems that the idea is I will tell everyone when I go to bed so you all know the market will move....

Glenn
You are not the only one glen
  • #8,679
  • Aug 15, 2007 5:09pm Aug 15, 2007 5:09pm
screw it. I went long.

That was the extent of my analysis.
  • #8,680
  • Aug 15, 2007 5:10pm Aug 15, 2007 5:10pm
21:44 USD/JPY: Cleared the Stops Under 116.50 San Francisco, Aug 15. The stops under 116.50 have been cleared on USD/JPY with fresh lows of 116.32 traded. Option defense is now tipped at 116.00 and could stall losses. Note the risk now for accelerated losses as Japanese exporters will be forced to hedge to meet their assumed target. The bulk of exporters have assumed a target of 115.00 and that includes Honda, Toyota, Nissan, Suzuki, Nissan, Komatsu, Yamaha Motor and Nikon. Currently, three month forward points are at 138 pts which with a spot of 116.32, puts the exporters below their hedge targets. This is expected to accelerate exporter hedging on USD/JPY with many having missed this move due to the Obon holidays.
In more bad news weighing on the market is the report from the FT that Goldman and Deutsche are quitting a $1 bln deal for MGM which highlights the credit crunch. Also noted is that the KKR IPO is in doubt after problems highlighted by KKR this morning when it was forced to sell $5.1 bln in loans. Finally, the news from the FT that the EC is going to probe the credit rating agencies. [email protected]
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