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

  • #51,581
  • Nov 26, 2007 6:11pm Nov 26, 2007 6:11pm
Quoting Srikanth
any one short here?
i saw earlier you ask for an interactive nikkei. i can not post the chart but i use the MT4 platform of Waterhouse Capital and it has live chart for nikkei 225. It's a Russian site...you can download the platform. just google it. BR
  • #51,582
  • Nov 26, 2007 6:14pm Nov 26, 2007 6:14pm
Quoting quecee5
Yeah, it looks like the typical short squeeze to me. I'm watching to see how long it last. It's amazing Nikkei down -262.32 but carry trade up. . .

Aus patience pills required here. . . ROTFLAMO!
Hey Quecee, could you explain your thoughts on what entails a "typical short squeeze"? I think this is something that not a lot of people understand to the full extent, myself included, but is something that is of great value in trading. Thanks in advance for any information on the subject.
I dream, therefore I become.
  • #51,583
  • Nov 26, 2007 6:20pm Nov 26, 2007 6:20pm
Quoting Srikanth
friends,

Could any one post the link to live nikkie price chart?

Thank you
Try this link....



Below is a copy of an earlier post......the link is to the MT4 download if anyone else is interested.


A free MT4 download from Waterhouse (WHC Trader) ...http://www.metaquotes.net/files/whc/whc4setup.exe right click on "Symbol" line below Market Watch and click Show All......DOW is listed as YM...just below Nikkei listed as NQ.

Hope it helps
  • #51,584
  • Nov 26, 2007 6:24pm Nov 26, 2007 6:24pm
Quoting mike w
Hey Quecee, could you explain your thoughts on what entails a "typical short squeeze"? I think this is something that not a lot of people understand to the full extent, myself included, but is something that is of great value in trading. Thanks in advance for any information on the subject.
It's when many traders are heavily positioned on the short side and a market catalyst causes them to cover (buy) in a hurry causing the price to increase rapidly. . .

In this case based on Fukui's statement many trader took that as if BOJ intervention would happen to prevent further drop in the dollar. ..
However, in the end the market always returns back to fundamentals therfore the run up on price is usually short lived. . .

As can be seen UJ price moving back down based on US outlook which is bleek at this point.
  • #51,585
  • Nov 26, 2007 6:28pm Nov 26, 2007 6:28pm
Quoting quecee5
It's when many traders are heavily positioned on the short side and a market catalyst causes them to cover (buy) in a hurry causing the price to increase rapidly. . .

In this case based on Fukui's statement many trader took that as if BOJ intervention would happen to prevent further drop in the dollar. ..
However, in the end the market always returns back to fundamentals therfore the run up on price is usually short lived. . .

As can be seen UJ price moving back down based on US outlook which is bleek at this point.
Great! Thanks a lot, I really appreciate the info. This is something to take note of during any large news event or any event that could move the market very quickly. If nothing out of the ordinary happens during the news event, then this squeeze poses a great place to enter in more positions for your favor.
I dream, therefore I become.
  • #51,586
  • Nov 26, 2007 6:33pm Nov 26, 2007 6:33pm
Quoting mike w
Great! Thanks a lot, I really appreciate the info. This is something to take note of during any large news event or any event that could move the market very quickly. If nothing out of the ordinary happens during the news event, then this squeeze poses a great place to enter in more positions for your favor.
I trade based on the fundamentals and chart analysis when its all said and done. I never trade on news because sometimes what you expect to happen doesn't alway pan out. . .

Therefore, I trade what I see because typically once we get the news it's old news and is usually factored in the price already. That's why the charts are all small traders have to go on for reliability. . .
  • #51,587
  • Nov 26, 2007 6:35pm Nov 26, 2007 6:35pm
Quoting quecee5
I trade based on the fundamentals and chart analysis when its all said and done. I never trade on news because sometimes what you expect to happen doesn't alway pan out. . .

Therefore, I trade what I see because typically once we get the news it's old news and is usually factored in the price already. That's why the charts are all small traders have to go on for reliability. . .
I agree with that. Fundamental analysis always plays out in technical analysis through price action.
I dream, therefore I become.
  • #51,588
  • Nov 26, 2007 6:40pm Nov 26, 2007 6:40pm
Quoting mike w
I agree with that. Fundamental analysis always plays out in technical analysis through price action.
Well stated!
  • #51,589
  • Nov 26, 2007 6:58pm Nov 26, 2007 6:58pm
We just ghosted past the daily pivot at 223.05 and we're right at the Gann on 1H. It sometimes offers support/resistance, and if broken can signal that longs might be in play. This bar closes in 5 minutes.

Perhaps I should clarify that this does not necessarily mean I will take longs, as I fully expect the unwinding of the carry trade, a US recession and therefore global slowdown so I am not particularly bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: 1h gann.gif Size: 17 KB
  • #51,590
  • Nov 26, 2007 7:04pm Nov 26, 2007 7:04pm
the pound is flying up accross the board at the moment
  • #51,591
  • Nov 26, 2007 7:06pm Nov 26, 2007 7:06pm
Quoting peterM
the pound is flying up accross the board at the moment
How far it can fly up ?
  • #51,592
  • Nov 26, 2007 7:08pm Nov 26, 2007 7:08pm
glad i waited before i scaled in shorts. this is what i saw. bullish divergence 4 hr
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 22 KB
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,593
  • Nov 26, 2007 7:09pm Nov 26, 2007 7:09pm
I think it will take more than an hourly close above that area for bulls to come fully into play and so I am still hanging onto my shorts. Right now, we are facing resistance on the 4 hour charts and I think price will bounce back down away from it. I could be wrong however, just as I was earlier in thinking that price wouldn't escape the area of 222.50. The next couple hours will be crucial for realizing if shorts could still be in effect. If they are, then I look for the previous low to be taken out and new lows to be created.
I dream, therefore I become.
  • #51,594
  • Nov 26, 2007 7:11pm Nov 26, 2007 7:11pm
This thing just shot up like crazy!
  • #51,595
  • Nov 26, 2007 7:11pm Nov 26, 2007 7:11pm
Here's the chart that I am seeing.
Attached Image (click to enlarge)
Click to Enlarge Name: testing resistance 4 hour..gif Size: 12 KB
I dream, therefore I become.
  • #51,596
  • Nov 26, 2007 7:14pm Nov 26, 2007 7:14pm
I'm glad I closed my short last night, if an hourly candle closes above 224, I see this going much higher. I'll wait and see what London does before jumping in.
Trade what you see, not what you think.
  • #51,597
  • Nov 26, 2007 7:15pm Nov 26, 2007 7:15pm
Quoting mike w
I think it will take more than an hourly close above that area for bulls to come fully into play and so I am still hanging onto my shorts. Right now, we are facing resistance on the 4 hour charts and I think price will bounce back down away from it. I could be wrong however, just as I was earlier in thinking that price wouldn't escape the area of 222.50. The next couple hours will be crucial for realizing if shorts could still be in effect. If they are, then I look for the previous low to be taken out and new lows to be created.
we also have the 4hr 5 sma high and the 1hr 100 ema as strong resistance at the 224 area. but as i am typing it busted right through it. wow
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #51,598
  • Nov 26, 2007 7:17pm Nov 26, 2007 7:17pm
Quoting birdt
We just ghosted past the daily pivot at 223.05 and we're right at the Gann on 1H. It sometimes offers support/resistance, and if broken can signal that longs might be in play. This bar closes in 5 minutes.

Perhaps I should clarify that this does not necessarily mean I will take longs, as I fully expect the unwinding of the carry trade, a US recession and therefore global slowdown so I am not particularly bullish.
birdt,

i just noticed that your 1hr gann line looks completely different from mine. what is your lookback setting?

here is a pic of mine:
Attached Image (click to enlarge)
Click to Enlarge Name: 1hrgann.jpg Size: 53 KB
  • #51,599
  • Nov 26, 2007 7:17pm Nov 26, 2007 7:17pm
What the freak is going on here! lol! everyone please take a KARMO patience pill high dosage
  • #51,600
  • Nov 26, 2007 7:18pm Nov 26, 2007 7:18pm
hmm..Hedged my shorts..any chance of this beast to come down to 221 again?
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