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

  • #48,081
  • Nov 6, 2007 8:26am Nov 6, 2007 8:26am
Possible re-test of 38.2% fibo (237.11)
Trade what you see, not what you think.
  • #48,082
  • Nov 6, 2007 8:28am Nov 6, 2007 8:28am
upside target for this head and shoulder pattern cound be 241.60 area and downside targets are 236.42, then 234.94, then 224.08, then previous swing low around 220.62 area. time to load up your positions soon.
  • #48,083
  • Nov 6, 2007 8:33am Nov 6, 2007 8:33am
Quoting my2buoys
The direct correlation between the GBP/USD and GBP/JPY is the GBP. If the GBP is moving the market then these two will move in tandem, as a general rule. However, during the NY session, the USD is normally the driver of the market, whether it's weak or strong. In this case, there is no direct correlation between the GBP/USD and GBP/JPY since the USD only appears in one of them. During NY you would be better off watching the USD/JPY and see what it is doing in order to determine what GBP/JPY will probably do. In many cases, during the NY session, the GBP/USD and GBP/JPY will actually move opposite of each other for that reason.

M2B
Hi My2bouys,

Just my slant.
Dollar is down vs Euro, and Pound, Yet holding its own vs Yen. This would seem like Yen weakness, opposed to pound strenth. I see this Yen weakness in anticipation of an Aussie rate hike later today.
  • #48,084
  • Nov 6, 2007 8:35am Nov 6, 2007 8:35am
Quoting karmostaji
Possible re-test of 38.2% fibo (237.11)
dow open +0.42 that will make it going up
  • #48,085
  • Nov 6, 2007 8:35am Nov 6, 2007 8:35am
Quoting karmostaji
Possible re-test of 38.2% fibo (237.11)
bro...how do you determine its going to retest 237.11? imean bearish?
  • #48,086
  • Nov 6, 2007 8:36am Nov 6, 2007 8:36am
Quoting karmostaji
Possible re-test of 38.2% fibo (237.11)
same i was thinking of 236.90
  • #48,087
  • Nov 6, 2007 8:37am Nov 6, 2007 8:37am
Projections were a $.49/share loss. Ouch.

IndyMac Bancorp Reports Third Quarter Loss of $202.7 Million, ($2.77) Per Share

http://biz.yahoo.com/bw/071106/20071106005505.html?.v=1

I love some of their explanations. Basicially they are saying that their financials don't suck quite as badly as some other mortgage companies.

Quote
While Indymac was the 7th largest mortgage originator in the nation during this 18-month period, our $313 million pre-tax loss, which is 71 percent below the industry average, is the 22nd highest among the top 33 mortgage lenders
  • #48,088
  • Nov 6, 2007 8:37am Nov 6, 2007 8:37am
Quoting alanz76
bro...how do you determine its going to retest 237.11? imean bearish?
Price hit a daily resistance (trendline) 4 times and couldn't close above it, 30m QQE crossed downwards, 1h/4h momentum is bearish, just waiting for 1h QQE to cross downwards.
Trade what you see, not what you think.
  • #48,089
  • Nov 6, 2007 8:40am Nov 6, 2007 8:40am
Quoting markam
Projections were a $.49/share loss. Ouch.

IndyMac Bancorp Reports Third Quarter Loss of $202.7 Million, ($2.77) Per Share

http://biz.yahoo.com/bw/071106/20071106005505.html?.v=1

I love some of their explanations. Basicially they are saying that their financials don't suck quite as badly as some other mortgage companies.
Another great one.
Quote
“While this loss is substantially higher than we had been forecasting, it was clearly not unexpected given the magnitude of the losses being reported by others in our industry and the recent decline in our stock price.

Don't listen to what we have been telling you. You should have known it would be worse then we said.
  • #48,090
  • Nov 6, 2007 8:43am Nov 6, 2007 8:43am
Quoting Mysticdiver
Hi My2bouys,

Just my slant.
Dollar is down vs Euro, and Pound, Yet holding its own vs Yen. This would seem like Yen weakness, opposed to pound strenth. I see this Yen weakness in anticipation of an Aussie rate hike later today.
Relative strength is indeed a very powerful tool to use in trading (in this case I use the term 'Relative Strength' referring to the strength of one currency in relation to other currencies, not the RSI indicator). It is difficult for me to follow intra-day because the strength and weaknesses of different currencies can shift literally from one news event to the next. If a person wanted to use relative strength to trade a long-term position it would definitely work (anyone ever heard of 'carry trades'?). It's more difficult to use it for intra-day trading, because by the time you figure out which currency is actually moving the market that moment, the tide has probably changed. Good observation, though Mystic.

M2B
  • #48,091
  • Nov 6, 2007 8:46am Nov 6, 2007 8:46am
Quoting my2buoys
The direct correlation between the GBP/USD and GBP/JPY is the GBP. If the GBP is moving the market then these two will move in tandem, as a general rule. However, during the NY session, the USD is normally the driver of the market, whether it's weak or strong. In this case, there is no direct correlation between the GBP/USD and GBP/JPY since the USD only appears in one of them. During NY you would be better off watching the USD/JPY and see what it is doing in order to determine what GBP/JPY will probably do. In many cases, during the NY session, the GBP/USD and GBP/JPY will actually move opposite of each other for that reason.

M2B

TQ M2B to clear my question..really appreciate it.
  • #48,092
  • Nov 6, 2007 8:47am Nov 6, 2007 8:47am
so guys whats news about JPY/USD buy -

what is the target downside?
  • #48,093
  • Nov 6, 2007 8:53am Nov 6, 2007 8:53am
Quoting karmostaji
Price hit a daily resistance (trendline) 4 times and couldn't close above it, 30m QQE crossed downwards, 1h/4h momentum is bearish, just waiting for 1h QQE to cross downwards.
Hey, bro, the only thing I see possibly stalling it right now is the Daily Momentum. On my chart all three are pointing up pretty solid. I'm not insinuating that means price will climb any higher today (it's already moved up almost 200 pips since 8PM EST last night), I just see it as a possible stagnator/delayer to the move down at the moment. Just something to keep our eye on for the day. If that trend line holds today, and tomorrow's momentum is bearish, I think we'll definitely see some good down movement.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily.gif Size: 30 KB
  • #48,094
  • Nov 6, 2007 8:54am Nov 6, 2007 8:54am
Looks like price action is stuck between 239.70 and 239.10.... Need an hourly close above/below to confirm new direction....

On a side note: Usd/Jpy looks to be setting up for a bearish run later in the day. (That means down to 114ish for da noobs) But this is pretty speculative on my part....
"Timing Is Everything. Really I Swear It Is"
  • #48,095
  • Nov 6, 2007 9:03am Nov 6, 2007 9:03am
U/J needs to break 114.45/50 area to confirm bearishness,...
  • #48,096
  • Nov 6, 2007 9:07am Nov 6, 2007 9:07am
More barriers gone in the dollar collapse.

dollar index below 76
Low75.9862007-11-06 09:34:06, 30 min delay
Silver is above $15
  • #48,097
  • Nov 6, 2007 9:13am Nov 6, 2007 9:13am
Quoting markam
More barriers gone in the dollar collapse.

dollar index below 76
Low75.9862007-11-06 09:34:06, 30 min delay
Silver is above $15
You should decide what will collapse, the $ or the DOW
  • #48,098
  • Nov 6, 2007 9:14am Nov 6, 2007 9:14am
Quoting TexasforEX

On a side note: Usd/Jpy looks to be setting up for a bearish run later in the day. (That means down to 114ish for da noobs)

TexasforEx:

On what are you basing your "looks to be" bear speculation?
  • #48,099
  • Nov 6, 2007 9:20am Nov 6, 2007 9:20am
Quoting karmostaji
Price hit a daily resistance (trendline) 4 times and couldn't close above it, 30m QQE crossed downwards, 1h/4h momentum is bearish, just waiting for 1h QQE to cross downwards.
thanks bro..waiting for good and a safe short
  • #48,100
  • Nov 6, 2007 9:22am Nov 6, 2007 9:22am
Quoting winterwhite
TexasforEx:

On what are you basing your "looks to be" bear speculation?

price action and candlestick patterns and MA's
"Timing Is Everything. Really I Swear It Is"
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