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

  • #13,881
  • Aug 23, 2007 2:46am Aug 23, 2007 2:46am
Quoting bluerose
Please see
http://www.dailyfx.com/story/tophead...850867288.html
thanks for that Bluerose, very interesting read! Puts things in perspective
  • #13,882
  • Aug 23, 2007 2:46am Aug 23, 2007 2:46am
Anyone long yet... ??? I had a buy limit activated @ 230.50.. I may close it until 30 min QQE cross upwards.
  • #13,883
  • Aug 23, 2007 2:47am Aug 23, 2007 2:47am
(JP ) BOJ'S FUKUI: SAYS BOJ IS STILL AWARE OF RISKS KEEPING INTEREST RATES LOW, NO PRESET SCHEDULE FOR POLICY
- Says markets should avoid one sided bets
- says yen carry trade unwinding is a result of excessive risk taking
- Yen Carry Trade Unwind Making Progress
- Says markets in orderly correction, no need to alter policy stance
- Says US Econ Slowing, But Expanding Moderately; US Econ To Return To Sustainable Growth After Adjustments
- Says Japanese financial system not hurt by US subprime issue
- Says Japan Economy,Prices Advancing More Than July
- Says BOJ's Mizuno Sees No Systemic Risks
- Says Mizuno Sees Japan Economy with solid Fundmentals
- Says Fed Policy Will not Restrict BOJ Policy
- Markets Adjustments May Cause Pain,Could Take A Bit Longer
- Credit Problems Worsening A Little More Broadly
  • #13,884
  • Aug 23, 2007 2:51am Aug 23, 2007 2:51am
Quoting auslanco
Anyone long yet... ??? I had a buy limit activated @ 230.50.. I may close it until 30 min QQE cross upwards.
I was but took the pips and ran...lol

I think I will wait for more solid confermation and the news announcment before I get back in..
  • #13,885
  • Aug 23, 2007 2:53am Aug 23, 2007 2:53am
Quoting auslanco
(JP ) BOJ'S FUKUI: SAYS BOJ IS STILL AWARE OF RISKS KEEPING INTEREST RATES LOW, NO PRESET SCHEDULE FOR POLICY
- Says markets should avoid one sided bets
- says yen carry trade unwinding is a result of excessive risk taking
- Yen Carry Trade Unwind Making Progress
- Says markets in orderly correction, no need to alter policy stance
- Says US Econ Slowing, But Expanding Moderately; US Econ To Return To Sustainable Growth After Adjustments
- Says Japanese financial system not hurt by US subprime issue
- Says Japan Economy,Prices Advancing More Than July
- Says BOJ's Mizuno Sees No Systemic Risks
- Says Mizuno Sees Japan Economy with solid Fundmentals
- Says Fed Policy Will not Restrict BOJ Policy
- Markets Adjustments May Cause Pain,Could Take A Bit Longer
- Credit Problems Worsening A Little More Broadly
It sounds like no support for yen to me... The pair has started the rally from 226 levels, now, the bigger picture will be 233-235... But, despite all of that , the pair is seen nowhere clear...Yet, retracement is seen so many times, but of course it is trending up...

What do you think man?! Please advise...
Hello World
  • #13,886
  • Aug 23, 2007 2:54am Aug 23, 2007 2:54am
Long @ 231.48 (GMT 0:15) with then bullish indicators and momentum.
Hit obvious resistance at that very point as various contributors have accurately pointed out. Dubious call in hindsight on my behalf. Hoping that will give...
SL @ 229.22
Will hang in for now....
  • #13,887
  • Aug 23, 2007 2:56am Aug 23, 2007 2:56am
Quoting katarche
Long @ 231.48 (GMT 0:15) with then bullish indicators and momentum.
Hit obvious resistance at that very point as various contributors have accurately pointed out. Dubious call in hindsight on my behalf. Hoping that will give...
SL @ 229.22
Will hang in for now....
30min to UK news release, if it is good, the pair will have a good booster, if not, the pair will not have any booster fundamentally...Wait and see...

Sit back and relax, pray...
Hello World
  • #13,888
  • Aug 23, 2007 3:00am Aug 23, 2007 3:00am
07:43 FOREX: Risk Aversion Indicators Confirm Appetites Have Returned London, August 23. The latest risk aversion indicators confirm what we all knew; that markets undertook a slight return to risk yesterday as appetites to trade look to normalize. The gradual scaling back of aversion has today seen the ECB global hazard index (compiled of implied currency volatilities) fall to 12.7, the lowest levels since August the 16th.
Elsewhere, in house indices have seen the UBS Risk Aversion Index fall from 2.16 to 1.96 while the RBC Cap Markets risk aversion indicator has fallen to a 2-week low at 12.4. The Swiss report cites a continuance of a "grind lower" amid decreasing volatility in both FX and equity markets while the Canadian research suggests a return to normal conditions. The lowest levels since August 9th may have been seen today but the bank also notes that a further fall cannot be ruled out. [email protected]
  • #13,889
  • Aug 23, 2007 3:01am Aug 23, 2007 3:01am
where is the bull man?
TORRO!
  • #13,890
  • Aug 23, 2007 3:04am Aug 23, 2007 3:04am
Quoting bluerose
Please see
http://www.dailyfx.com/story/tophead...850867288.html

He'll be all over this one!

yenpairsinadumpster
  • #13,891
  • Aug 23, 2007 3:05am Aug 23, 2007 3:05am
London is on now, 56mins remaining to Asian session... The pair is going to resume the trend (likely)...Long GJ Long....

Now, waiting for a possible booster by news release from UK
Hello World
  • #13,892
  • Aug 23, 2007 3:10am Aug 23, 2007 3:10am
Quoting waf_1988
London is on now, 56mins remaining to Asian session... The pair is going to resume the trend (likely)...Long GJ Long....

Now, waiting for a possible booster by news release from UK
The pair will test the previous high again....Watch out for it...Be ready
Hello World
  • #13,893
  • Aug 23, 2007 3:10am Aug 23, 2007 3:10am
Quoting auslanco
Anyone long yet... ??? I had a buy limit activated @ 230.50.. I may close it until 30 min QQE cross upwards.
Exited my long for a small loss earlier when it broke 231 the 2nd time my earleir post then quickly placed my Short trades.

However, realized the 38% retracement on what looked like a flat corrective wave so I was able to exit for a nice positive overall trade.

Now back with my Long trades around the 231 area.

I think we have jsut seen the end of a wave 2 of a wave 3.5 Up

Next stop would be at 233 then we will probably see a retracement down to 231.33 till 231.02 before we start moving up again towards 235.5

Nothing is set on stone with these counts. Forex could just be so unpredictable. I am just trying to play out a possible scenario here based on what I think will happen using EW .

EG
  • #13,894
  • Aug 23, 2007 3:17am Aug 23, 2007 3:17am
Looks like we might test Karmo's trifecta of fibs again. Hope it can punch through this time.
  • #13,895
  • Aug 23, 2007 3:18am Aug 23, 2007 3:18am
Quoting el grande
Exited my long for a small loss earlier when it broke 231 the 2nd time my earleir post then quickly placed my Short trades.

However, realized the 38% retracement on what looked like a flat corrective wave so I was able to exit for a nice positive overall trade.

Now back with my Long trades around the 231 area.

I think we have jsut seen the end of a wave 2 of a wave 3.5 Up

Next stop would be at 233 then we will probably see a retracement down to 231.33 till 231.02 before we start moving up again towards 235.5

Nothing is set on stone with these counts. Forex could just be so unpredictable. I am just trying to play out a possible scenario here based on what I think will happen using EW .

EG
Maybe your S/L is too tight, it would be better if you set S/L @ 50.0% or 61.8% fibo retracement... The pair is now trying to approach the previous high now... London session is now open, the next 15mins Uk news is due out...Whilst the yen gain no support from fukui speaks, losing momentum since yesterday rally from 226 (now @ 231levels)... Sounds bull for me...Superbull of course...

Sit back and relax...
Hello World
  • #13,896
  • Aug 23, 2007 3:19am Aug 23, 2007 3:19am
Quoting brucehvn
Looks like we might test Karmo's trifecta of fibs again. Hope it can punch through this time.
Hope so...I been waiting all night for that...lol
  • #13,897
  • Aug 23, 2007 3:28am Aug 23, 2007 3:28am
Quoting waf_1988
Maybe your S/L is too tight, it would be better if you set S/L @ 50.0% or 61.8% fibo retracement... The pair is now trying to approach the previous high now... London session is now open, the next 15mins Uk news is due out...Whilst the yen gain no support from fukui speaks, losing momentum since yesterday rally from 226 (now @ 231levels)... Sounds bull for me...Superbull of course...

Sit back and relax...

Thanks waf.

Actually I manually exited those earlier long trades.

But I am back on my Long trades now and yes sitiing here watching andof course a bit more relaxed now.

Again... the wave 1 and 2 I was talking about may just have been a much smaller wave 1. Sub wave 1 for this wave 5 up should go past 231.55 then a 61.8 to 78.6 retracement for Wave 2.

Would be nice for trading the price turns but quite risky. I might just as well leave my Long trades alone now and probably add to it when it finishes that sub wave 2.

EG
  • #13,898
  • Aug 23, 2007 3:31am Aug 23, 2007 3:31am
*(uk) Q2 Preliminary Total Business Investment Q/q: 0.8% V 2.0%e; Y/y 7.4% V 8.8%e
  • #13,899
  • Aug 23, 2007 3:32am Aug 23, 2007 3:32am
*(UK) Q2 PRELIMINARY TOTAL BUSINESS INVESTMENT Q/Q: 0.8% V 2.0%E; Y/Y 7.4% V 8.8%E
- No revisions
  • #13,900
  • Aug 23, 2007 3:32am Aug 23, 2007 3:32am
I'm going to load my Longs on a dip
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