we need to stay above 234.18
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #44,803
- Oct 25, 2007 9:14pm Oct 25, 2007 9:14pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
good shorts from 234.57-59 range to 23401 too besafe on sell..I am long overall at the lower levels from 233.50 early today..
are u guys long?
- #44,806
- Oct 25, 2007 9:17pm Oct 25, 2007 9:17pm
- | Joined Dec 2006 | Status: Trader | 1,556 Posts
Well, I'm not well versed in technical comparing to most of the guys here, just able to manage not losing days profit from recently.
I see this thing going up short term:
1) 1H chart: MACD is crossed up (above 0 right now, Stochs are pointing up)
2) 4H chart:MACD has crossed up, Stochs are also up The TL from large fall in Jul/Aug is at around 233.20 on current bar.
3) Fed rate cut is almost for sure (90% of analysts were saying that -can be wrong though) So equity will rise following the rate cut.
4) Interest swap, big boys with enough funds just want the interest piling up? (also japanese retail investors with good capital and hard learned experience)
5) With UK data showing surprises to the upside, and further rate increase may be in the line
6) Japan doesn't have an ounce of minerals, resources, oil and dependent on exports - which will suffer from the higher Yen
But in a long term like your time frame days, weeks to months this pair may slide down because
1) you say so(also aus, karmo, markam, hk too)
2) Yuan value is being criticized, hence Yen will rise in proxy (If you guys have a Hong kong dollar in your broker, buy it for a long term -it's closely related to Yuan and will be almost pip to pip increase) I don't feel comfortable with Chinese yuan appreciating so fast at all.
3) Daily chart is looking quite bad, like the fall few days ago and large fall in Jul/Aug Macd's are crossed down, not so good for the long term longs I'd say
4) Carry trade is almost extinct these volatile days
Ok, I'm willing to learn and perfect my skills, so constructive criticism/discussion is welcome, as long as it doesn't get offending to the big Hearted/Brained guys of this thread, safe trading
M2B
- #44,807
- Edited 9:50pm Oct 25, 2007 9:24pm | Edited 9:50pm
- | Commercial User | Joined Dec 2006 | 1,016 Posts
- #44,809
- Edited Oct 26, 2007 6:37am Oct 25, 2007 9:28pm | Edited Oct 26, 2007 6:37am
- Joined Apr 2007 | Status: (Latin: statūs), rank, state | 3,127 Posts
- #44,813
- Oct 25, 2007 9:41pm Oct 25, 2007 9:41pm
- Joined Jul 2007 | Status: Following The Trade Winds | 8,442 Posts
