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

  • #13,461
  • Aug 22, 2007 2:36pm Aug 22, 2007 2:36pm
Quoting joiedevivre
what next Karmo? Will it go down from there? Thanks...
We will know when we get there
Trade what you see, not what you think.
  • #13,462
  • Aug 22, 2007 2:37pm Aug 22, 2007 2:37pm
Quoting karmostaji
DOW just barely touched 13245 which I was waiting for since yesterday
This is definitely a critical area if a rally is to be sustained
  • #13,463
  • Aug 22, 2007 2:38pm Aug 22, 2007 2:38pm
Quoting markam
This is definitely a critical area if a rally is to be sustained
a close above this level is just perfect
Trade what you see, not what you think.
  • #13,464
  • Aug 22, 2007 2:39pm Aug 22, 2007 2:39pm
Quoting karmostaji
a close above this level is just perfect
if it closes above 13,200, I will be hedging my shorts temporarily.
  • #13,465
  • Aug 22, 2007 2:42pm Aug 22, 2007 2:42pm
May I ask how you would hedge your short positions? Would you buy exactly lot for lot? Is that because of triple interest Wed. or you think the gbp/jpy will go to 231.50? Thanks...
  • #13,466
  • Aug 22, 2007 2:44pm Aug 22, 2007 2:44pm
For bulls ..

Today's Japanese interest rate decision remains a wild card even though the current trend is up .. some profit taking may kick in before that http://www.forexfactory.com/images/icons/icon5.gif http://www.forexfactory.com/images/icons/icon5.gif
  • #13,467
  • Aug 22, 2007 2:45pm Aug 22, 2007 2:45pm
after 231.50
aiming 236 and 237.60 respectively

all depends on the interest rate statement...
give me my pips back...
  • #13,468
  • Aug 22, 2007 2:45pm Aug 22, 2007 2:45pm
Quoting mktjong
For bulls ..

Today's Japanese interest rate decision remains a wild card even though the current trend is up .. some profit taking may kick in before that http://www.forexfactory.com/images/icons/icon5.gif http://www.forexfactory.com/images/icons/icon5.gif
anyone have any idea what time that decision will be announced? i hate those tentative timings.
  • #13,469
  • Aug 22, 2007 2:46pm Aug 22, 2007 2:46pm
Quoting joiedevivre
May I ask how you would hedge your short positions? Would you buy exactly lot for lot? Is that because of triple interest Wed. or you think the gbp/jpy will go to 231.50? Thanks...
I will hedge exactly as much as I am short now. I will hold the longs at least until after the rate decision tonight and see what happens.

Unless the dow does a big drop in the next 15 minutes, I may hedge anyway, just because of triple interest and the rate decision.
  • #13,470
  • Aug 22, 2007 2:53pm Aug 22, 2007 2:53pm
If you look at a 6 month chart of the dow, you can see that this area was significant support during the may-august time period. It probably will act as an area of strong resistance for a while. Even if the rally continues, it may have trouble breaking though this level.
  • #13,471
  • Aug 22, 2007 2:58pm Aug 22, 2007 2:58pm
Quoting karmostaji
227.80 area
Hi Karmo,

Just curious what you do once your target is hit?, Do you just trail 100pips+ below and wait for the next target or something else?

Dave

PS so far up 300 pips from my long 226.40 late yesterday. I reckon the 251 level will be back within 6 weeks looking at the weekly charts
  • #13,472
  • Aug 22, 2007 2:58pm Aug 22, 2007 2:58pm
Quoting markam
If you look at a 6 month chart of the dow, you can see that this area was significant support during the may-august time period. It probably will act as an area of strong resistance for a while. Even if the rally continues, it may have trouble breaking though this level.

Like a Boxing
  • #13,473
  • Aug 22, 2007 2:59pm Aug 22, 2007 2:59pm
Quoting karmostaji
a close above this level is just perfect
karmo.. did you notice that the trend line you drew in your H1 chart just became a support?
give me my pips back...
  • #13,474
  • Aug 22, 2007 3:17pm Aug 22, 2007 3:17pm
today's close of DOW is 13,236.13...perhaps we are on a recovery path for carry trades?
  • #13,475
  • Aug 22, 2007 3:27pm Aug 22, 2007 3:27pm
I think it's going up merely due to the triple interest wendesday ...

Does this have enough strength to go all the way into 231.xx?

Thank you.

~G.
  • #13,476
  • Aug 22, 2007 3:36pm Aug 22, 2007 3:36pm
Quoting AlphaGA
I think it's going up merely due to the triple interest wendesday ...

Does this have enough strength to go all the way into 231.xx?

Thank you.

~G.
I doubt a position is worth the triple interest if it falls 100 pips the next moment...

I think it's positioning for the news.
Greed and impatience are our greatest enemies.
  • #13,477
  • Aug 22, 2007 3:37pm Aug 22, 2007 3:37pm
price is trying to push up...cant seem to break that resistance
  • #13,478
  • Aug 22, 2007 3:37pm Aug 22, 2007 3:37pm
anyone planning on going long or adding more position on retrace to 5sma?
  • #13,479
  • Aug 22, 2007 3:46pm Aug 22, 2007 3:46pm
the Nikkei will very likely follow the lead of the Dow today. br
  • #13,480
  • Aug 22, 2007 3:56pm Aug 22, 2007 3:56pm
glad i hedged at 4
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