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

  • #42,281
  • Oct 19, 2007 2:39pm Oct 19, 2007 2:39pm
Quoting Rustyyy
Sunday should be fun.
NYSE curbs in effect.
DJIA down over 300 points...so far.
GBP/USD sitting at 2.0500.
G-7 meeting over the weekend.
Doesn't get any better than this for HUGE volatility .

This is definitely one of those weekends that you can expect a gap on market open. Unless the G-7 announces a magic solution to the energy/money/middle east crisises, I expect the gap to be down.

I will be keeping an open short.
  • #42,282
  • Oct 19, 2007 2:43pm Oct 19, 2007 2:43pm
Quoting Saintjay
Closed all shorts 235.07 done for the week nice trading this week!!!
Congrats on a great exit. Have a good weekend!
  • #42,283
  • Oct 19, 2007 2:49pm Oct 19, 2007 2:49pm
Quoting markam
This is definitely one of those weekends that you can expect a gap on market open. Unless the G-7 announces a magic solution to the energy/money/middle east crisises, I expect the gap to be down.

I will be keeping an open short.
Markam,
I have been following your posts for quite a while and have learned a lot from your analysis.

If the Fed cuts rate at end of October which will weaken the already weak dollar what then ?

What could the G-7 leaders do other than rhetoric to "save" the current bad situation.

I don't like this either but I believe the US has been in fairytale land for a while regarding the subprime crisis and the general overall US economy weakness.

BTW I am opening shorts as well to carry over the weekend.

and....What do you think about Nikkei on Sunday night ?

Hope you have a great weekend.
  • #42,284
  • Oct 19, 2007 3:07pm Oct 19, 2007 3:07pm
Seems 235.20 is broken, will we see 234.50 today ?

Nice candle pattern on GU 15m
  • #42,285
  • Oct 19, 2007 3:23pm Oct 19, 2007 3:23pm
Quoting markam
This is definitely one of those weekends that you can expect a gap on market open. Unless the G-7 announces a magic solution to the energy/money/middle east crisises, I expect the gap to be down.

I will be keeping an open short.
I closed mine a bit early @235.16. Guess it is gonna down more ..
  • #42,286
  • Oct 19, 2007 3:27pm Oct 19, 2007 3:27pm
Quoting Azili
Aus or Co.

I have a few questions about the 1c and 14c MOM. I have been trying to understand the how they work? It seems that if we do have a "spike" in the bars the 1c mom will make a sharp point and when the move is about over the 1c will make a sharp angle in the other direction saying the move is about over. Please correct me if I am wrong. Now is the 14c the longer term mom? So if the 10c mom indicates a retracement to the 5sma do we look at the 14c for reassurance that the move is only a retracement and will continue after the retracement is over?

I have made some excellent pips using the MOM's but not sure if I am using them right exactly. I have 10c MOM figured out like a champ.

If anybody out there could give a detailed explaination of these mom's it would be great.
The momentum indicator is one of the simplest indicators there is. It is only a comparison of two closing prices, the current bar, and the bar x number of bars ago (10 or 14 or 1, whatever you've chosen). So, if the current bar is closing lower than the bar 10 bars ago (in the case of a 10C setting), then the momentum will be pointing down. Likewise if the current bar is closing higher than 10 bars ago, the the momentum will be pointing up. The difference between the two closing prices constitutes how steep it will point.
  • #42,287
  • Oct 19, 2007 3:38pm Oct 19, 2007 3:38pm
Grrr, I was wanting to see my first target reached today. Missed by 29 pips so far. Looks like more interest over the weekend.
  • #42,288
  • Oct 19, 2007 3:43pm Oct 19, 2007 3:43pm
Out @ 235.00 .... veryyyyyyyyyy happy ending +93 per lot

have a great weekend all
  • #42,289
  • Oct 19, 2007 4:29pm Oct 19, 2007 4:29pm
Closed two of my most vulnerable entries just before market close (40 pips short of target). See charts, first has the bottom green dashed line and removed in second chart - two entries at same price.

Sell price 237.78 (x2) and closed at 234.88 (-7 pip spread) = (290 - 7) x 2 = 566 pips.

Negative interest is 57 pips x 2 = 114 pips

Total banked = 452 pips (in 10 trading days)

5 entries remaining on Guppy and 2 on Euppy.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guppy-h4-trade.gif Size: 18 KB
Click to Enlarge Name: guppy-h4-trade1.gif Size: 17 KB
  • #42,290
  • Oct 19, 2007 4:35pm Oct 19, 2007 4:35pm
Wrong thread, but Euppy chart attached with target (red dashed line).
Attached Image (click to enlarge)
Click to Enlarge Name: euppy-daily-trade.gif Size: 13 KB
  • #42,291
  • Oct 19, 2007 4:40pm Oct 19, 2007 4:40pm
Quoting Zoran
Closed two of my most vulnerable entries just before market close (40 pips short of target). See charts, first has the bottom green dashed line and removed in second chart - two entries at same price.

Sell price 237.78 (x2) and closed at 234.88 (-7 pip spread) = (290 - 7) x 2 = 566 pips.

Negative interest is 57 pips x 2 = 114 pips

Total banked = 452 pips (in 10 trading days)

5 entries remaining on Guppy and 2 on Euppy.
congrats mate , that was a good day indeed
  • #42,292
  • Oct 19, 2007 4:40pm Oct 19, 2007 4:40pm
Aus what are your views? is it down hill from here? i didn't feel comfortable trading today. Is the pair still expected to retrace to the 238 region?
  • #42,293
  • Oct 19, 2007 4:45pm Oct 19, 2007 4:45pm
This is normally translated to stronger Yen, but not sure how it plays now. At least we see quite a movement today.

G-7 Seeks `Accelerated' Yuan Appreciation, Draft Says (Update1)
Link: http://www.bloomberg.com/apps/news?p...fh8&refer=home
  • #42,294
  • Oct 19, 2007 4:54pm Oct 19, 2007 4:54pm
Quoting zoheir
congrats mate , that was a good day indeed
Thanks but all (G/J) entries were made 2 weeks ago so negative interest was/is creeping up. I have 1 entry (237.80) left with a target of 234.50, 2 (237.88, 238.06) with target 231.50 and 2 (238.06, 238.80) with target 221.50. In the words of master karmo, patience!

Congrats on your pips also!
  • #42,295
  • Oct 19, 2007 5:23pm Oct 19, 2007 5:23pm
Quoting mktjong
This is normally translated to stronger Yen, but not sure how it plays now. At least we see quite a movement today.

G-7 Seeks `Accelerated' Yuan Appreciation, Draft Says (Update1)
Link: http://www.bloomberg.com/apps/news?p...fh8&refer=home

Should have kept a larger short open.
  • #42,296
  • Oct 19, 2007 5:28pm Oct 19, 2007 5:28pm
Quoting ActioReactio
Each year I do a projection for myself as a road map for the years trading. Attached is a screen capture of this years projection for the gbp/jpy and a screen capture of a daily chart to date.

I consider plus or minus 2 days as an acceptable range for error.

If it helps someone, great, but it is not a recommendation of any kind to trade in any direction.


edit: I have added my euro projection as well.

Interesting charts. I can't seem to follow your top one (No labels). Can you please let me know what timeframe and pair it represents?
  • #42,297
  • Oct 19, 2007 7:11pm Oct 19, 2007 7:11pm
Quoting Zoran
Interesting charts. I can't seem to follow your top one (No labels). Can you please let me know what timeframe and pair it represents?
Zoran, The black charts are from my personal projections of price movement for both the gpy/jpy and euro through the end of the year. The daily candle chart was posted as a comparison: projection to actual.
  • #42,298
  • Oct 19, 2007 7:53pm Oct 19, 2007 7:53pm
Closed the week on the Daily 200 EMA
  • #42,299
  • Oct 19, 2007 10:02pm Oct 19, 2007 10:02pm
hello
ive been following this thread for a while and wanted to thank everyone for their continued contribution. thanks
ive tried learning as much as i can but sometimes get confused why some setups are taken and some are not.

i was wondering if anyone could help me why Aus is still holding a long position and if he mentioned where his stop loss is placed.
i also read that karmostaji is holding a long position too and both of them think this is going to reverese to go back up
the other thing is there used to be more explanations of trades which were announced in here...but nowadays i dont see many of the senior members explaining why they have taken a particular trade. It used to help traders like me understand better. Last few times i have seen seniors mentioning of a position taking because they think its going that way and not a valid techinical suggestion....please seniors, if you traders could give us not so experienced traders in here valid techinical reasons once again we would like it. thank you once again

fer
  • #42,300
  • Oct 19, 2007 10:34pm Oct 19, 2007 10:34pm
Quoting Zoran
Closed two of my most vulnerable entries just before market close (40 pips short of target). See charts, first has the bottom green dashed line and removed in second chart - two entries at same price.

S.

Great Charting analysis as always . Thanks Zoran.
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