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

  • #50,401
  • Nov 15, 2007 7:36am Nov 15, 2007 7:36am
Quoting Ash
Dude, the overall trend has been down. Just one little news about CHF isn't going to change the overall trend for USD/CHF. If you want to scalp, that's ok but one would personally suggest to do your homework. One has previously stated that we find a lot of traders that trade currencies but don't know the fundamentals as to what drives a currency up or down. When you can grasp the fundamentals along with the technicals, you can minimize your losses and become successful traders.

just wanted to rub it in that i got a nice trade with the usd/chf on that last spike to the plus guess it pays to gamble sometimes
  • #50,402
  • Nov 15, 2007 7:36am Nov 15, 2007 7:36am
Probably won't get a clear picture until NYSE opens but I am thinking more bearish at this point.....
  • #50,403
  • Nov 15, 2007 7:38am Nov 15, 2007 7:38am
I feel lonely being the only one here long with my SL in profit
Trade what you see, not what you think.
  • #50,404
  • Nov 15, 2007 7:39am Nov 15, 2007 7:39am
Karmo how do you put SL in profit. I am trying to figure that out by the way dont feel lonely bro I am long too!
  • #50,405
  • Nov 15, 2007 7:39am Nov 15, 2007 7:39am
Quoting dagoods
where is this bad credit news? is it worse than expectations or better than expectations? BIG DIFFERENCE. For example a 2.7 bill writedown when analysts thought it would be 10 billion can actually be good news what have u heard?
Bear Stearns, not Barclay
Patience + Humility + Study = Success
  • #50,406
  • Nov 15, 2007 7:41am Nov 15, 2007 7:41am
Quoting dagoods
just wanted to rub it in that i got a nice trade with the usd/chf on that last spike to the plus guess it pays to gamble sometimes
Have you not read the title of this thread. Auslanco- gby/jpy and GBP/USD
(news trade). We are all really happy for your success on your trade. But to totally honest I really don't care. So if you have some meaningful analysis for this thread then please post that information. That I would read.
  • #50,407
  • Nov 15, 2007 7:41am Nov 15, 2007 7:41am
Quoting karmostaji
I feel lonely being the only one here long with my SL in profit
It's lonely at the top my friend
Patience + Humility + Study = Success
  • #50,408
  • Nov 15, 2007 7:42am Nov 15, 2007 7:42am
Quoting vinesh2
Karmo how do you put SL in profit. I am trying to figure that out by the way dont feel lonely bro I am long too!
I'm not anymore LOL

time to go short for me.
Trade what you see, not what you think.
  • #50,409
  • Nov 15, 2007 7:47am Nov 15, 2007 7:47am
mom on g/u and u/j for 4 hr TF are all point down w/ 1:15 left in the 4 hr TF. This should bode well for g/j heading down. Waiting for the 4 hr QQE to cross down w/ a confirmation on mom.

Picture 7.png
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  • #50,410
  • Nov 15, 2007 7:50am Nov 15, 2007 7:50am
Looks we will be testing the lows again and even lower. . . GBP/JPY just broke support again @ 226.40/50 and is heading south. . .

I see 224.60 at the very least, lets watch and see how this plays out. . . We may see 222.50 by 2morrow. NY usually follows London so we'll see if they will retest the low and make a new low. . .

I'm short and will hold on to it until I see a reversal. But the fact that GBP/JPY is having trouble boucing from support leads me to believe that more downside is coming. . .

Good luck everyone on your trades today. . .
  • #50,411
  • Nov 15, 2007 7:50am Nov 15, 2007 7:50am
Quoting wired2199
Have you not read the title of this thread. Auslanco- gby/jpy and GBP/USD
(news trade). We are all really happy for your success on your trade. But to totally honest I really don't care. So if you have some meaningful analysis for this thread then please post that information. That I would read.

no problem sorry for getting off topic... if u go back to 5 am u will see my analysis i said bearish on gpb but waiting on usd data to confirm i simply was corresponding with peter b4 he went to bed b4 with the chf trade thats all i wont post anything but gpb from now on just thought u all might want a good gamble I am short gpb/jpy right now and i am on the plus side 50 pips in the black and going to hold that maybe all day depending on what i see (i am also plus long on usd/cad and usd/chf as i told ya'all earlier..... but you don't give a crap and rightly so) but back to gpb i like gpb/usd short and gpb/jpy short and i would look for chances to get on short side today using stochastics on charts just my humble opinion
  • #50,412
  • Nov 15, 2007 7:57am Nov 15, 2007 7:57am
Don't forget about the petroleum inventory report coming out in 1.5 hours. We should see the full effect of the mexico problem, and I expect a big drop in inventories. Since the dollar has strengthened a lot over the last week, I don't expect to see WTI oil pushing over $100/barrel, but there still may be some fireworks in both the forex and the stock market.
  • #50,413
  • Nov 15, 2007 7:58am Nov 15, 2007 7:58am
Quoting markam
Don't forget about the petroleum inventory report coming out in 1.5 hours. We should see the full effect of the mexico problem, and I expect a big drop in inventories. Since the dollar has strengthened a lot over the last week, I don't expect to see WTI oil pushing over $100/barrel, but there still may be some fireworks in both the forex and the stock market.
do u have any open shorts mark?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,414
  • Nov 15, 2007 8:01am Nov 15, 2007 8:01am
Quoting dagoods
just wanted to rub it in that i got a nice trade with the usd/chf on that last spike to the plus guess it pays to gamble sometimes
dagoods:

I, and most others, come here to learn. As a new trader, I appreciate
the work that the successful, more experienced, traders are doing on
this thread. It was because of posts like yours that one of those
experienced traders left this thread. Unfortunately, his leaving
was a loss to all of us. We also see that some of the other mature
traders are not here as frequently. Please reread the thread's
purpose and realize that it was placed here so that we may
learn from mature experienced ones. With all due respect, please
use it to watch and learn as others are doing. If you feel the need
to post about your trades, use the journal section of this forum.

Thank you
  • #50,415
  • Nov 15, 2007 8:05am Nov 15, 2007 8:05am
Quoting moneymagnet
do u have any open shorts mark?

I am not in right now. Other than a little playing, I am probably out until after the TIC report tomorrow. I believe it will determine the direction for the next big move up or down.
  • #50,416
  • Nov 15, 2007 8:08am Nov 15, 2007 8:08am
Futures looking a little weak.

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NEW YORK (CNNMoney.com) -- Stocks could have trouble Thursday as investors struggle to shake off concerns about credit markets, oil prices and a warning about a slowdown in the tech sector.
Stock futures fell in early trading, suggesting U.S. stocks will follow overseas markets lower at the open.
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  • #50,417
  • Nov 15, 2007 8:12am Nov 15, 2007 8:12am
Quoting dagoods
where is this bad credit news? is it worse than expectations or better than expectations? BIG DIFFERENCE. For example a 2.7 bill writedown when analysts thought it would be 10 billion can actually be good news what have u heard?

The credit crunch also keeps hitting banks. British bank Barclays (Charts) said Thursday it would take a $2.7 billion writedown, although shares were little changed in early London trading as investors were apparently relieved the hit wasn't larger.
  • #50,418
  • Nov 15, 2007 8:18am Nov 15, 2007 8:18am
Quoting wired2199
mom on g/u and u/j for 4 hr TF are all point down w/ 1:15 left in the 4 hr TF. This should bode well for g/j heading down. Waiting for the 4 hr QQE to cross down w/ a confirmation on mom.

Picture 7.png
i have 228.50 as my pivot point this will determine short term trend in my opinion do u agree?
  • #50,419
  • Nov 15, 2007 8:19am Nov 15, 2007 8:19am
Quoting wired2199
mom on g/u and u/j for 4 hr TF are all point down w/ 1:15 left in the 4 hr TF. This should bode well for g/j heading down. Waiting for the 4 hr QQE to cross down w/ a confirmation on mom.

Picture 7.png

sorry meant 226.50 obviously
  • #50,420
  • Nov 15, 2007 8:19am Nov 15, 2007 8:19am
As for the spreading problems in credit markets, the Wall Street Journal reported Thursday that GMAC's home lending unit, ResCap, is in danger of violating terms of loan agreements due to declines in the value of its loan portfolio. The paper said that could lead lenders to demand immediate payment of its loans and even force the unit into bankruptcy protection. GMAC is 49 percent owned by General Motors (Charts, Fortune 500), which last week reported a much bigger than forecast operating loss due greatly to problems at ResCap, and 51 percent owned by private equity firm Cerberus Capital Management, which took another hit from credit market woes Wednesday.

The United Arab Emirates may end the dirham's 30-year-old peg to the dollar and link it to a basket of currencies, said central bank Governor Sultan Bin Nasser al-Suwaidi.
The falling dollar will trigger a ``review'' of the U.A.E.'s dollar peg, al-Suwaidi said in an interview in Gwacheon, South Korea today. The plan is ``not to drop the dollar peg, but maybe to reduce it to a basket which will consist of more dollars, but not totally 100 percent,'' he said.

``There does seem to be a shift going away from the dollar structurally across the board. We therefore don't see any reasons to jump in and buy the dollar.''


Some more doom and gloom.
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