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

  • #17,301
  • Aug 28, 2007 6:01pm Aug 28, 2007 6:01pm
I just closed 2 of my longs and hedged the third. I think the retracement may be done.
  • #17,302
  • Aug 28, 2007 6:02pm Aug 28, 2007 6:02pm
Quoting jay9170
the 1hr retrace is at 228.86 and is done in 7 minutes
Good... then we can go down...WAY down...
  • #17,303
  • Aug 28, 2007 6:03pm Aug 28, 2007 6:03pm
Markam what's your take on the U.S. session tomorrow? U think we will bounce a little and roll back over or continue with triple digits?
"Only when the tide goes out will we know who is swimming naked."
  • #17,304
  • Edited 6:13pm Aug 28, 2007 6:10pm | Edited 6:13pm
Newbie . . . 1st trade . . . SHORT at 228.75

Regards, K
  • #17,305
  • Aug 28, 2007 6:13pm Aug 28, 2007 6:13pm
GBPJPY

I have my sights turned to 225.98 area now before a substantial retrace for a quick rest.

EG
  • #17,306
  • Aug 28, 2007 6:14pm Aug 28, 2007 6:14pm
Quoting pipped oFF
Markam what's your take on the U.S. session tomorrow? U think we will bounce a little and roll back over or continue with triple digits?
I think people are beginning to realize that this financial issue is not going to disappear, and I believe I caught the first scent of panic in the air. The lack of any rebound the entire day was quite interesting.

There may be an effort to stabilize the market tomorrow (plunge protection team anyone), but I doubt too many real investors are going to decide that they want to take advantage of the dip today by jumping back in.

My best guess is that tomorrow may be a relatively boring day in the market. A big crash in the asian and european markets, and a 500 pip drop in GJ ( ) would change my guess of course.
  • #17,307
  • Aug 28, 2007 6:17pm Aug 28, 2007 6:17pm
Quoting markam

My best guess is that tomorrow may be a relatively boring day in the market. A big crash in the asian and european markets, and a 500 pip drop in GJ ( ) would change my guess of course.
Well then LETs DO THAT?...lol
  • #17,308
  • Aug 28, 2007 6:17pm Aug 28, 2007 6:17pm
SHort at 228.75 . . . STOP is 229.25 . . . LIMIT is 228.42

Any suggestions about either appreciated!

Hope my little account can withstand this FREIGHT TRAIN!

Thanks!

K
  • #17,309
  • Aug 28, 2007 6:18pm Aug 28, 2007 6:18pm
Quoting mktjong
22:26 Carry Trades: Recap Of Bad News Over The Past 36 Hours Sydney, August
29: The bad news that has hit the JPY-funded carry trades over the past 36 hours
has come in waves and almost too numerous to mention in one article. Below is a
list of the main stories that have pushed investor risk aversion higher:
* The UK Times reported that State Street has been identified as having over 15%
of their assets exposed to asset-backed commercial paper conduits.
* Merrill Lynch downgraded Lehman Bros, Bear Stears and Citigroup from buy to
neutral.
* S&P Case Shiller US Q2 home prices fell 3.2% from a year ago. The worst
decline in 20 years.
* FOMC Minutes for the August 7 meeting shows concern over US housing and
consumer confidence even before the credit markets deteriorated.
* Another US mortgage company filed for bankruptcy.
* The Boston Globe reported that the State Street Limited Duration Bond Fund,
which managed 1.4 billion USD for institutional clients, lost about 37 percent
of its value during the first three weeks of August.
* The Dow fell over 2% while the Treasury market has started to price in a US
recession according to the head of fixed interest at Deutsche Private Banking.
I guess showing the other 100 things of concern would have made the alert too long.
  • #17,310
  • Aug 28, 2007 6:19pm Aug 28, 2007 6:19pm
nice. except that that's not a butterfly. not a classical one, at least.

Quoting Zoran
Here is a present for my friend karmo. A perfectly formed red butterfly. Please take care of it as red ones are a bit exotic and rare!
Nihil Sine Deo.
  • #17,311
  • Aug 28, 2007 6:21pm Aug 28, 2007 6:21pm
Quoting Kev-K
SHort at 228.75 . . . STOP is 229.25 . . . LIMIT is 228.42

Any suggestions about either appreciated!

Hope my little account can withstand this FREIGHT TRAIN!

Thanks!

K
You shouldn't do such trade. Your risk is twice your profit.
You should trade when you see that your profit target is twice the risk or more of course .
That sounds better but i"m a newbie too so..
COT: The precious data ignored
  • #17,312
  • Aug 28, 2007 6:23pm Aug 28, 2007 6:23pm
Fasten your seat belt folks .. I think we gonna have the show down soon
I Hope so
  • #17,313
  • Aug 28, 2007 6:23pm Aug 28, 2007 6:23pm
Quoting Kev-K
SHort at 228.75 . . . STOP is 229.25 . . . LIMIT is 228.42

Any suggestions about either appreciated!

Hope my little account can withstand this FREIGHT TRAIN!

Thanks!

K
That is way too tight a stop loss for GJ. I basically have to run without stops because just about anything can be hit. You can build a small account quickly with this pair. Just wait until we have a really good entry signal (which we don't have yet) and scale into your position. Set orders at levels below your first entry, with appropriate stops. On a big move, you can make a lot of money with minimal risk.
  • #17,314
  • Aug 28, 2007 6:23pm Aug 28, 2007 6:23pm
Quoting Zoran
OK, are there any newbies here? If so, please tell me what your next trade is so I can determine the direction please.
Yeh, but i am going to start charging a fee. $$$$ my inacuracy is 100% acurate the aint any better trend reversal indicator than me. just ad "bill77" to your vt or mt4 charts
  • #17,315
  • Aug 28, 2007 6:23pm Aug 28, 2007 6:23pm
Quoting markam
I think people are beginning to realize that this financial issue is not going to disappear, and I believe I caught the first scent of panic in the air. The lack of any rebound the entire day was quite interesting.

There may be an effort to stabilize the market tomorrow (plunge protection team anyone), but I doubt too many real investors are going to decide that they want to take advantage of the dip today by jumping back in.

My best guess is that tomorrow may be a relatively boring day in the market. A big crash in the asian and european markets, and a 500 pip drop in GJ ( ) would change my guess of course.
u still long mark. if so where was entry/exit
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #17,316
  • Aug 28, 2007 6:24pm Aug 28, 2007 6:24pm
I'm disappointed , i've expected a bigger retracement
COT: The precious data ignored
  • #17,317
  • Aug 28, 2007 6:26pm Aug 28, 2007 6:26pm
Quoting moneymagnet
u still long mark. if so where was entry/exit
I exited at the top of the hour, when the new bar opened right on the 5sma line.
  • #17,318
  • Aug 28, 2007 6:30pm Aug 28, 2007 6:30pm
Quoting bill77
Yeh, but i am going to start charging a fee. $$$$ my inacuracy is 100% acurate the aint any better trend reversal indicator than me. just ad "bill77" to your vt or mt4 charts

  • #17,319
  • Aug 28, 2007 6:32pm Aug 28, 2007 6:32pm
Quoting Kev-K
SHort at 228.75 . . . STOP is 229.25 . . . LIMIT is 228.42

Any suggestions about either appreciated!

Hope my little account can withstand this FREIGHT TRAIN!

Thanks!

K
Congrats!

Ron
  • #17,320
  • Aug 28, 2007 6:32pm Aug 28, 2007 6:32pm
WOW NZD just fell through the floor...
"Only when the tide goes out will we know who is swimming naked."
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