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

  • #37,061
  • Oct 4, 2007 5:37pm Oct 4, 2007 5:37pm
mornin everyone

bias for g/j and g/u are both bullish today
intraday longer holding trades will be on the LONGS only

again--nfp day--my profit tgts will be smaller till b4 news ie--will be looking for 30-70 pips moves

im expecting g/u to test 2.0435-50 b4 news

im waitn for setups
  • #37,062
  • Oct 4, 2007 5:38pm Oct 4, 2007 5:38pm
good to see u posting here back Aus

missed your input last night
  • #37,063
  • Oct 4, 2007 5:43pm Oct 4, 2007 5:43pm
Quoting markam
Aus,

Did you see that article I linked to earlier talking about how Australia is going to have to import wheat for only the second time in history?

That drought sounds really bad? Any problems where you live?
Drought and Water restrictions going to hit this economy really bad in the next 5 years. Just yesterday I exchanged every single penny I own to USD. I know you may not agree with the USD part. But AUD is going to hit .6500 area before end of next year with the new goverment change and end of economic boom cycle.
  • #37,064
  • Oct 4, 2007 5:46pm Oct 4, 2007 5:46pm
Quoting mike w
At one point or another, a nut gets cracked. May hurt, may not. Who knows... lol joking aside, I am, for now, just trading what I see on the daily charts. There was a bullish engulfment pattern, along with the trendline not breaking down, and so I am long.
Yes, I understand being long. This may spike into the 238 region and then I expect it to reverse. I have been saying that for a long time but in case anyone hasn't noticed, I think a big bank or something is selling to all the bulls just below 238. Market action is showing that the bulls are strong but someone/something with deep pockets keeps selling!!

So at the moment I am thinking longer term (not intraday) - my reversal point is 130 pips away (238.80). If I stay short and just scale into my position, I can handle 130 pips. I'm aiming for 1700 so the R/R is 1 pip risk to 13 pips reward (put simply).

So what could happen at NFP? No more selling at just below 238 and let this spike as high as it will go (and take out all the stops) then sell, sell, sell. Now that's just a thought!
  • #37,065
  • Oct 4, 2007 5:47pm Oct 4, 2007 5:47pm
Quoting Hakuna Matata
mornin everyone

bias for g/j and g/u are both bullish today
intraday longer holding trades will be on the LONGS only

again--nfp day--my profit tgts will be smaller till b4 news ie--will be looking for 30-70 pips moves

im expecting g/u to test 2.0435-50 b4 news

im waitn for setups
Morning.
Hopefully we can test upper fan again
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 18 KB
Measure twice, cut once
  • #37,066
  • Oct 4, 2007 5:49pm Oct 4, 2007 5:49pm
I am using the MT4 QQE V.5 ON THE 4HOUR

I am not using the dots and arrows as in the 15 min strategy. What I meant was that when you go to edit the indicator there are 3 lines with different colours to edit. Or should there be only one on show? This is what I am confused about.
  • #37,067
  • Oct 4, 2007 5:53pm Oct 4, 2007 5:53pm
I have been scratching my noggin trying to figure the potential impact of the NFP. Obviously a really bad report will likely give us a repeat of last month. However, what will a good report do? If it screws up any possibility of another rate cut soon, will we see the stock market and GJ go down? It makes no sense that good news should be bearish, but it could happen.

I see the most bullish report to be a moderately bad employment report, below the long-term growth of the last year or so, but not nearly as bad as last month.

On the subject of rate cuts, I see the BOE and ECB actions as a signal that the feds cannot make another rate cut. Unless they cut their rates, another cut by the feds would just kill the dollar.

Anybody have any thoughts about the NFP or the BOE/ECB actions?
  • #37,068
  • Oct 4, 2007 5:53pm Oct 4, 2007 5:53pm
Quoting Hakuna Matata
good to see u posting here back Aus

missed your input last night
I had to do some serious studying yesterday. I got a exam coming up beginning of next month. Back to studying in another few hours. You guys can keep this thread warm in the mean time
  • #37,069
  • Oct 4, 2007 5:56pm Oct 4, 2007 5:56pm
Quoting Zoran
Yes, I understand being long. This may spike into the 238 region and then I expect it to reverse. I have been saying that for a long time but in case anyone hasn't noticed, I think a big bank or something is selling to all the bulls just below 238. Market action is showing that the bulls are strong but someone/something with deep pockets keeps selling!!

So at the moment I am thinking longer term (not intraday) - my reversal point is 130 pips away (238.80). If I stay short and just scale into my position, I can handle 130 pips. I'm aiming for 1700 so the R/R is 1 pip risk to 13 pips reward (put simply).

So what could happen at NFP? No more selling at just below 238 and let this spike as high as it will go (and take out all the stops) then sell, sell, sell. Now that's just a thought!
A thought that provoked quite a bit of thought, my friend! I was actually just talking with a friend today about my reasoning for going long if it would stay at the position that it did. We actually came about this while we were talking, and I am on the same bias as you for when the NFP report comes out. I was going to be looking for a first target at 237.90, with a second and third target further up the scale- with the third ending at 238.50.
I dream, therefore I become.
  • #37,070
  • Oct 4, 2007 5:58pm Oct 4, 2007 5:58pm
Quoting auslanco
Drought and Water restrictions going to hit this economy really bad in the next 5 years. Just yesterday I exchanged every single penny I own to USD. I know you may not agree with the USD part. But AUD is going to hit .6500 area before end of next year with the new goverment change and end of economic boom cycle.
I agree the AUD is overpriced, but that is partly because of the commodities boom. I see no possibility that the commodities boom will end short of a world-wide depression. As a result, the australian and canadian currencies should remain relatively strong.

I expect gold to go to a minimum of $1500/ounce, so I would line the Aus estate with gold bricks if I were you.
  • #37,071
  • Oct 4, 2007 6:01pm Oct 4, 2007 6:01pm
I agree NZD and AUD are overpriced.. but like you said.. gold and AUD are closely linked.. and gold doesn't seem to be stopping its uptrend anytime soon.. especially with the more rate cuts from the fed looking possible.
  • #37,072
  • Oct 4, 2007 6:05pm Oct 4, 2007 6:05pm
Quoting auslanco
I had to do some serious studying yesterday. I got a exam coming up beginning of next month. Back to studying in another few hours. You guys can keep this thread warm in the mean time
Studying? Really? What are you studying?
  • #37,073
  • Oct 4, 2007 6:05pm Oct 4, 2007 6:05pm
Quoting markam

I expect gold to go to a minimum of $1500/ounce.
may I ask you why ?
Trade at your own Risk
  • #37,074
  • Oct 4, 2007 6:07pm Oct 4, 2007 6:07pm
Quoting PipChick
lol..come join us Zor.
Well, C waves are normally larger than A's so I don't think the low is in yet.
  • #37,075
  • Oct 4, 2007 6:13pm Oct 4, 2007 6:13pm
Quoting GJ_Trader
may I ask you why ?
Short answer, collapse of the dollar. Long answer involves discussion of fiat currencies, peak oil and the upcoming collapse of the exponential growth model for the world economy.
  • #37,076
  • Oct 4, 2007 6:21pm Oct 4, 2007 6:21pm
Ahh hope tomorrow will be a nice day for some pips... What to tell the world for the NFP??

thinking thinking...
  • #37,077
  • Oct 4, 2007 6:22pm Oct 4, 2007 6:22pm
Gold and Silver will both appreciate heavily in the future. I forgot about gold and started hoarding silver buillion. I have a good 1,500 troy ounces tucked away
check out my blog: forexmademillionaire dot com
  • #37,078
  • Oct 4, 2007 6:24pm Oct 4, 2007 6:24pm
Quoting markam
Short answer, collapse of the dollar. Long answer involves discussion of fiat currencies, peak oil and the upcoming collapse of the exponential growth model for the world economy.
Many thanks markam

sorry for bothering you, is that mean the US markets going to collapse ?
Trade at your own Risk
  • #37,079
  • Oct 4, 2007 6:31pm Oct 4, 2007 6:31pm
Anybody thinking long? This could shoot up or down either way. If the candle closes below the cloud and qqe(60) still bearish, I will go short. If the candle closes above the cloud and stays, will wait for qqe to cross upward and go long
Looks like more long to me as of now .. am gonna get you, Markam http://www.forexfactory.com/images/icons/icon10.gif
Attached Image
  • #37,080
  • Oct 4, 2007 6:33pm Oct 4, 2007 6:33pm
Quoting mktjong
Anybody thinking long?
been long . . . staying long . . . LOVIN long!
check out my blog: forexmademillionaire dot com
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