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

  • #40,001
  • Oct 15, 2007 12:41pm Oct 15, 2007 12:41pm
Quoting Breeze
Yes "Your Highness"....from now on i'll be quiet....cause you are the Power...the Quake....the Thunder....the Fire...the Tornado....the Storm....we all "BOW" to you.....,"Your Majesty".....

Breeze

LMAO couldn't have said it better myself
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  • #40,002
  • Oct 15, 2007 12:42pm Oct 15, 2007 12:42pm
I think Aus might be right as far as not much more of a down move happening until Asia (8PM EST). The 15M and 30M have gone oversold on Stochastics and are working themselves out, but the 1H has just now entered a near-oversold area as well and is starting to turn up. It's possible that we could now see some ranging until Asia while this pair consolidates and works itself out. I thought earlier it might go ahead and give us a better shot down into the 238 or 237 area, but every move seems to be very deliberate right now. I'm still looking for a bounce back up into the 239.90 area to get back in short. That would be right around the current 1H 5SMA.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1h.gif Size: 24 KB
  • #40,003
  • Oct 15, 2007 12:45pm Oct 15, 2007 12:45pm
Quoting karmostaji
always wait for the candle to close
you called that one.
  • #40,004
  • Oct 15, 2007 12:48pm Oct 15, 2007 12:48pm
It hasn't broken pivot yet has it? Looks like it may bounce back before another drop. Thoughts?
Craazy
  • #40,005
  • Oct 15, 2007 12:48pm Oct 15, 2007 12:48pm
Quoting my2buoys
I think Aus might be right as far as not much more of a down move happening until Asia (8PM EST). The 15M and 30M have gone oversold on Stochastics and are working themselves out, but the 1H has just now entered a near-oversold area as well and is starting to turn up. It's possible that we could now see some ranging until Asia while this pair consolidates and works itself out. I thought earlier it might go ahead and give us a better shot down into the 238 or 237 area, but every move seems to be very deliberate right now. I'm still looking for a bounce back up into the 239.90 area to get back in short. That would be right around the current 1H 5SMA.

M2B
The price will consolidate from the zig zag move. We will see a continuation of this bearish correction during the early hours of Tokyo.
  • #40,006
  • Oct 15, 2007 12:49pm Oct 15, 2007 12:49pm
Quoting craazy
It hasn't broken pivot yet has it? Looks like it may bounce back before another drop. Thoughts?
I think we will have another drop and it will be lead by GU, but 239 must break for us to see for downward movement for GJ.
Trade what you see, not what you think.
  • #40,007
  • Oct 15, 2007 12:51pm Oct 15, 2007 12:51pm
Quoting karmostaji
I think we will have another drop and it will be lead by GU, but 239 must break for us to see for downward movement for GJ.
So you think GU and GJ will go down together, or do you mean GU is next up for a sell?
Craazy
  • #40,008
  • Oct 15, 2007 12:53pm Oct 15, 2007 12:53pm
The dow has been going down pretty steadily since this morning, and has shown minimal signs of any rebound. I expect a close below 13900, which will be the lowest since the end of September.

I still expect a major stock market correction before Thanksgiving.
  • #40,009
  • Oct 15, 2007 12:54pm Oct 15, 2007 12:54pm
Quoting karmostaji
I think we will have another drop and it will be lead by GU, but 239 must break for us to see for downward movement for GJ.
But we're trapped in this Dante's inferno version of a friggin' range btw 240-237
Patience + Humility + Study = Success
  • #40,010
  • Oct 15, 2007 12:56pm Oct 15, 2007 12:56pm
Quoting craazy
So you think GU and GJ will go down together, or do you mean GU is next up for a sell?
It is hard to predict. never trade what you think, but only what your indicators tell you. With simple indicators 20-40 pips is always fair game with Gbp/Jpy. I try to stay away during low volatility.

kingmaker
  • #40,011
  • Oct 15, 2007 12:58pm Oct 15, 2007 12:58pm
Quoting kingmaker
It is hard to predict. never trade what you think, but only what your indicators tell you. With simple indicators 20-40 pips is always fair game with Gbp/Jpy. I try to stay away during low volatility.

kingmaker
Ofcourse we trade what we 'see', I hope nobody trades based on what any trader says or thinks.
Trade what you see, not what you think.
  • #40,012
  • Oct 15, 2007 12:59pm Oct 15, 2007 12:59pm
Quoting craazy
So you think GU and GJ will go down together, or do you mean GU is next up for a sell?
I think they'll both go down together after UJ stalls (seems like it has), but I could be wrong.

Quoting DutchTrader
But we're trapped in this Dante's inferno version of a friggin' range btw 240-237
yeah that range we are still in, but I might like to see a move down towards the lower end of the range.
Trade what you see, not what you think.
  • #40,013
  • Oct 15, 2007 1:02pm Oct 15, 2007 1:02pm
The 15m 100 sma appears to giving it strong resistance @ 239.49
  • #40,014
  • Oct 15, 2007 1:04pm Oct 15, 2007 1:04pm
Quoting karmostaji
I think they'll both go down together after UJ stalls (seems like it has), but I could be wrong.


yeah that range we are still in, but I might like to see a move down towards the lower end of the range.

GU has made three 150-200 pip drops this month and rebounded back everytime. The 4-hour chart looks like we are setting up a fourth big drop.
  • #40,015
  • Oct 15, 2007 1:12pm Oct 15, 2007 1:12pm
In my opinion, this is a great time to buy if you're bullish on this pair. I just added some more.
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  • #40,016
  • Oct 15, 2007 1:13pm Oct 15, 2007 1:13pm
Quoting Geppy
In my opinion, this is a great time to buy if you're bullish on this pair. I just added some more.
Just out of curiousity, where do you set your stops or hedges?
  • #40,017
  • Oct 15, 2007 1:15pm Oct 15, 2007 1:15pm
Quoting markam
GU has made three 150-200 pip drops this month and rebounded back everytime. The 4-hour chart looks like we are setting up a fourth big drop.
You have a good entry point yet? I'm eying 2.0410 for a sell.
Craazy
  • #40,018
  • Oct 15, 2007 1:17pm Oct 15, 2007 1:17pm
Quoting markam
Just out of curiousity, where do you set your stops or hedges?
I usually only hedge unless I'm taking a very low risk trade. If I see something as low risk, I'm using a tight stop of 20-30 pips and going for 50-100. For example, this morning I sold at 240.44 and had a stop at 240.75 and covered at 239.70 We'd made a double top on the hourly and I saw it as a very great risk/reward. Right now. I have longs from 239.50 and at current levels (239.20ish). I have an order in to hedge/go net short at 238.75 There is a lot of support here, if it breaks, we'd most likely run a good deal further, but the overall trend is up and that is not to be disrespected.
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  • #40,019
  • Oct 15, 2007 1:20pm Oct 15, 2007 1:20pm
markam what are you waiting on for a sell? Also, what entry point you looking at?
Craazy
  • #40,020
  • Oct 15, 2007 1:20pm Oct 15, 2007 1:20pm
Quoting craazy
You have a good entry point yet? I'm eying 2.0410 for a sell.
I went short at 2.042 with a target of 2.029 and SL of 2.0475
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