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

  • #40,081
  • Oct 15, 2007 4:24pm Oct 15, 2007 4:24pm
Quoting Zoran
I'm trading against someone who I think is the greatest trader in the world.

He thinks this is going up so I would like to be right but I have a plan in case I'm not!

http://www.fxsurfer.com/forums/showt...=2878#post2878
Why are you trading against him Zor?
  • #40,082
  • Oct 15, 2007 4:28pm Oct 15, 2007 4:28pm
Quoting PipChick
241.50 is the area that back in Feb could not be breached after several attempts at which point it dropped a few thousand pips. So we need to respect that area as a strong resistance. Not only that but if it cannot be breached this time after several attempts, a downside h/s will be formed ont he weekly (extremely powerful) which will most likely cause a huge drop.

This is why we need to wait for a decent break of about 100 pips before entering long on a dip back at 241.50. (if it is breached)
Ok, thanks for the explanation.

Bruce
  • #40,083
  • Oct 15, 2007 4:29pm Oct 15, 2007 4:29pm
Quoting brucehvn
Zoran or PipChick,

Maybe I missed it elsewhere, but what is making up the strong resistance at 241.50? I have fib lines plotted as well as daily, weekly, and monthly pivots, but I don't see much at that level.

Bruce
Click on your monthly chart and go back to the highs of 1998. Draw a S/R line at the level there and match it up with some recent S/R (i.e on weekly/daily chart). That should give a fairly good indication of the strength. The bulls are stong but so is that line. It's just a waiting game now.
  • #40,084
  • Oct 15, 2007 4:29pm Oct 15, 2007 4:29pm
Quoting PipChick
Why are you trading against him Zor?

Because a good trader goes with his/her instincts and doesn't let others sway them . . . more power to ya Zor buddy!

GRRRRRRRRRRRRRR
check out my blog: forexmademillionaire dot com
  • #40,085
  • Oct 15, 2007 4:43pm Oct 15, 2007 4:43pm
Quoting Geppy
Because a good trader goes with his/her instincts and doesn't let others sway them . . . more power to ya Zor buddy!

GRRRRRRRRRRRRRR
GRRRRRRRRRRRRRRR

Yep, that's 1 more R than you.
  • #40,086
  • Oct 15, 2007 4:51pm Oct 15, 2007 4:51pm
Just want to let everyone know that G/J has not broken 239.63 (MAJOR RESISTANCE) and by broken I mean a full bull DAILY candle closed above that level. So I'm reentering a short once again with tight s/l (I only grabbed a few pips from my last short). G/U is also ready for a long turn around as of right now and this could be triggered by the GBP data coming out around london's open
  • #40,087
  • Oct 15, 2007 5:10pm Oct 15, 2007 5:10pm
Quoting Zoran
I'm trading against someone who I think is the greatest trader in the world.

He thinks this is going up so I would like to be right but I have a plan in case I'm not!

http://www.fxsurfer.com/forums/showt...=2878#post2878
Zoran,

Was fxsurfer predicting 240.40 b4 a shorterm drop?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #40,088
  • Oct 15, 2007 5:36pm Oct 15, 2007 5:36pm
Quoting moneymagnet
Zoran,

Was fxsurfer predicting 240.40 b4 a shorterm drop?
I believe so, but that short term drop is in progress or complete. We ended up going to 240.6
  • #40,089
  • Oct 15, 2007 5:39pm Oct 15, 2007 5:39pm
gosh--so much bitching in here
pity to see this thread getting dirty!

trend is still Up
will trrade as it sets up intraday--long or short
  • #40,090
  • Oct 15, 2007 5:41pm Oct 15, 2007 5:41pm
Markam, I know it's pretty junky FXCM analysis, but at least fundamentals are better than they technical analysis. Anyway, I know you're short G/U and thought you might wanna read this. Lots of UK data out tonight.

http://www.dailyfx.com/story/dailyfx...479979391.html
check out my blog: forexmademillionaire dot com
  • #40,091
  • Oct 15, 2007 5:43pm Oct 15, 2007 5:43pm
2 planes collided on the ground at London airport. That may be the reason for drop in GBP.
  • #40,092
  • Oct 15, 2007 5:46pm Oct 15, 2007 5:46pm
Quoting munch835

2 planes collided on the ground at London airport. That may be the reason for drop in GBP.
One was a British Airways Boeing 747 departing for Singapore and the other was a Sri Lankan Airlines Airbus A340. The London Fire Brigade has confirmed that no-one has been injured in the incident which happened at 2213 BST.
Success has a Thousand Fathers.
  • #40,093
  • Oct 15, 2007 5:57pm Oct 15, 2007 5:57pm
Quoting Geppy
Markam, I know it's pretty junky FXCM analysis, but at least fundamentals are better than they technical analysis. Anyway, I know you're short G/U and thought you might wanna read this. Lots of UK data out tonight.

http://www.dailyfx.com/story/dailyfx...479979391.html

I think there is very little chance that the UK will raise rates anytime soon. Their housing and banking problems are quite likely going to be worse than in the States. Short of a complete crash of the pound, I can't see anything but rate reductions in the near future.

Of course that doesn't mean that GU won't rally higher. If the markets acted rationally, all fiat currencies would be worth nothing, and we would all be back on a gold standard.
  • #40,094
  • Oct 15, 2007 6:06pm Oct 15, 2007 6:06pm
Markam you still have that GU short position going?

Others... Short or Long for both GU and GJ? I am short on both.
Craazy
  • #40,095
  • Oct 15, 2007 6:07pm Oct 15, 2007 6:07pm
Quoting markam
I think there is very little chance that the UK will raise rates anytime soon. Their housing and banking problems are quite likely going to be worse than in the States. Short of a complete crash of the pound, I can't see anything but rate reductions in the near future.

Of course that doesn't mean that GU won't rally higher. If the markets acted rationally, all fiat currencies would be worth nothing, and we would all be back on a gold standard.
I agree with you, but what I was mostly pointing to in that article was tonight's upcoming data. Any good data will push the G/U higher of course, but I know you have your stop in so you're playin it smart.
check out my blog: forexmademillionaire dot com
  • #40,096
  • Oct 15, 2007 6:20pm Oct 15, 2007 6:20pm
Quoting kayman
One was a British Airways Boeing 747 departing for Singapore and the other was a Sri Lankan Airlines Airbus A340. The London Fire Brigade has confirmed that no-one has been injured in the incident which happened at 2213 BST.
No cause for alarm..as they only bumped into each other while taxiing..although this is rare, chances are the passengers were hardly aware of it.. The big concern is to BA (747) and Sri Lankan Airways (A340) who will have to foot the bill. That won't be cheap!

NP
  • #40,097
  • Oct 15, 2007 6:22pm Oct 15, 2007 6:22pm
Quoting craazy
Markam you still have that GU short position going?

Others... Short or Long for both GU and GJ? I am short on both.

Been long on Cable for awhile but doesn't look like we're going to get through this resistance, at least not now. I've heard compelling arguments suggesting we're headed North in the next 24 hours or so, maybe 2.05+, but I'm starting to think about locking 'em in and reversing for a ride down (but not until my indicators tell me to).
  • #40,098
  • Oct 15, 2007 6:29pm Oct 15, 2007 6:29pm
g/j shuld go retst hioghs again now
  • #40,099
  • Oct 15, 2007 6:30pm Oct 15, 2007 6:30pm
whats the asian Daily Piv? anyone?
  • #40,100
  • Oct 15, 2007 6:30pm Oct 15, 2007 6:30pm
Quoting birdt
Been long on Cable for awhile but doesn't look like we're going to get through this resistance, at least not now. I've heard compelling arguments suggesting we're headed North in the next 24 hours or so, maybe 2.05+, but I'm starting to think about locking 'em in and reversing for a ride down (but not until my indicators tell me to).

we should see another 20-30 pips move soon up on g/u
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