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

  • #49,541
  • Nov 11, 2007 2:22pm Nov 11, 2007 2:22pm
Quoting 59fender
long 229.84
Need more confirmation to go long ????
Do not follow my trades. Trade what you see on your own charts.
  • #49,542
  • Nov 11, 2007 2:23pm Nov 11, 2007 2:23pm
Quoting markam
I think will also head to 233, but it may hit 228 first.

i dont think it would retrace to low 228...
but a high 228 is possible yes

to be honest this is a great bull setup... but its just the market is crazy... bears may want to hammer the bulls expectations.
  • #49,543
  • Nov 11, 2007 2:28pm Nov 11, 2007 2:28pm
Quoting Bernanke_Sr
i dont think it would retrace to low 228...
but a high 228 is possible yes

to be honest this is a great bull setup... but its just the market is crazy... bears may want to hammer the bulls expectations.
If the equities bottom, so will the carry trade pairs. The interesting thing is that we have a 1000 pips or so to go on the carry pairs, AJ and NJ in particular, until the longterm bull trend would be considered broken.
Patience + Humility + Study = Success
  • #49,544
  • Edited 2:36pm Nov 11, 2007 2:32pm | Edited 2:36pm
Quoting DutchTrader
If the equities bottom, so will the carry trade pairs. The interesting thing is that we have a 1000 pips or so to go on the carry pairs, AJ and NJ in particular, until the longterm bull trend would be considered broken.
Interesting and true. I am already up 713 pips on AUD/JPY (short). If (when) carry trades start to unwind, we should should see another 700 pips from where they are right now come down on the carry trade pairs.
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  • #49,545
  • Nov 11, 2007 2:36pm Nov 11, 2007 2:36pm
Quoting Ash
Interesting and true. I am already up 713 pips on AUD/JPY. If (when) carry trades start to unwind, we should should see another 700 pips from where they are right now come down on the carry trade pairs.
Yep I've been eating very well off AJ and AU, I'm waiting to see what London does as the volume is much larger when they're in session. We could see a bounce, albeit temporarily, and then another round of seling to see us target those August/Oct lows. Are you still short AJ?
Patience + Humility + Study = Success
  • #49,546
  • Nov 11, 2007 2:40pm Nov 11, 2007 2:40pm
Quoting DutchTrader
Yep I've been eating very well off AJ and AU, I'm waiting to see what London does as the volume is much larger when they're in session. We could see a bounce, albeit temporarily, and then another round of seling to see us target those August/Oct lows. Are you still short AJ?
Yeah, haven't closed none of my shorts. This is what I crave for. Bulls running wild while the gloom and doom news is coming out but no one pays attention. The dow is already @ 13000 and I am anticipating it coming down more. It's just a waiting game. Good things come to those who wait.

Also, AJ have been very good to me.
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  • #49,547
  • Nov 11, 2007 2:42pm Nov 11, 2007 2:42pm
Quoting Ash
Yeah, haven't closed none of my shorts. This is what I crave for. Bulls running wild while the gloom and doom news is coming out but no one pays attention. The dow is already @ 13000 and I am anticipating it coming down more. It's just a waiting game. Good things come to those who wait.

Also, AJ have been very good to me.
I actually believe we'll get a corrective bounce, just a better short entry of course.
Patience + Humility + Study = Success
  • #49,548
  • Edited 2:48pm Nov 11, 2007 2:48pm | Edited 2:48pm
Quoting DutchTrader
I actually believe we'll get a corrective bounce, just a better short entry of course.
I also expect the same.
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  • #49,549
  • Nov 11, 2007 2:53pm Nov 11, 2007 2:53pm
Just remember there will be defense of 110 in UJ. I expect the japanese government will try talking the yen down if necessary.
  • #49,550
  • Nov 11, 2007 2:54pm Nov 11, 2007 2:54pm
further decline today, possibly to 227.60 area . Trade @ your own risk.
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  • #49,551
  • Nov 11, 2007 2:55pm Nov 11, 2007 2:55pm
Quoting markam
Just remember there will be defense of 110 in UJ. I expect the japanese government will try talking the yen down if necessary.
Oh no doubt, they've historically propped up the Jpy around the 109/110 area
Patience + Humility + Study = Success
  • #49,552
  • Nov 11, 2007 3:01pm Nov 11, 2007 3:01pm
Quoting markam
Just remember there will be defense of 110 in UJ. I expect the japanese government will try talking the yen down if necessary.
They should just do the sensible thing and just peg their currency with the Euro (which will probably happen within the next several years when every currency will be pegged to the Euro) and let UY fall down. yeah, I know, it's hard for them to do that when they've had such a good relationhip but it's time to just let go. This marriage can no longer work for the Japanese.
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  • #49,553
  • Nov 11, 2007 3:05pm Nov 11, 2007 3:05pm
Quoting Ash
May the green pips always be with you!
Thanks Bro, I closed 50% of the positions @ 229.70
  • #49,554
  • Nov 11, 2007 3:08pm Nov 11, 2007 3:08pm
Quoting Ash
They should just do the sensible thing and just peg their currency with the Euro (which will probably happen within the next several years when every currency will be pegged to the Euro) and let UY fall down. yeah, I know, it's hard for them to do that when they've had such a good relationhip but it's time to just let go. This marriage can no longer work for the Japanese.
They've got no choice, the US is their biggest market. Plus geopolitically the US needs the Japanese as a counterweight to China in the Asia Pacific region. Notice the US has tacitally allowed Yen weakness while squawking mightily at Yuan weakness. It's not because the US loves sushi so much.
Patience + Humility + Study = Success
  • #49,555
  • Nov 11, 2007 3:15pm Nov 11, 2007 3:15pm
We may possibly have reached the bottom for the day (see chart from FXSolution). Not sure London session would re-test it again but it may not go any lower .. my guess
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  • #49,556
  • Nov 11, 2007 3:22pm Nov 11, 2007 3:22pm
we saw similar things in august... just when everybody were seeing a perfect setup for longs... price kept going down... Once I read this as smart money... big players fooling everybody.
  • #49,557
  • Nov 11, 2007 3:37pm Nov 11, 2007 3:37pm
Quoting mktjong
We may possibly have reached the bottom for the day (see chart from FXSolution). Not sure London session would re-test it again but it may not go any lower .. my guess
It has formed a positive divergence on hourly chart. If this is in progress, we may see area of 233.50ish which is around the daily pivot.
  • #49,558
  • Nov 11, 2007 3:37pm Nov 11, 2007 3:37pm
230.53 scale out half stop to break even
  • #49,559
  • Nov 11, 2007 3:37pm Nov 11, 2007 3:37pm
morning everybody don't gaps usually get filled on this pair?
  • #49,560
  • Nov 11, 2007 3:38pm Nov 11, 2007 3:38pm
Quoting emda
we saw similar things in august... just when everybody were seeing a perfect setup for longs... price kept going down... Once I read this as smart money... big players fooling everybody.
Yeah, but I kept my shorts open. I ask myself, "how long are the markets going to ignore the fundamentals?" but then again, we've got fools running the markets.
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