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

  • #58,061
  • Jan 9, 2008 11:32am Jan 9, 2008 11:32am
In my opinion, gbp/usd will rise after the rate decision, no matter whether there is a cut or a hold. The big boys are waiting for the kneejerk reaction of the little guys who try and trade the news. The big boys will then then collect the stop losses of late, weak entries, drive the price up, take profit, and exit the market, laughing all the way to the bank.
  • #58,062
  • Jan 9, 2008 11:34am Jan 9, 2008 11:34am
P.S. the only exception to my position is a 50 point cut, as opposed to a 25 point cut.
The BOE is known for surprising the market, and acting in a pre-emptive fashion.
  • #58,063
  • Jan 9, 2008 11:45am Jan 9, 2008 11:45am
I will probably stay away from trading anything but my bias is short. There maybe a spike for a couple of days but then reallity will settle in and send the pound down again. Carry trade is still in unwinding mode and all long term indicators are pointing south but who knows its the big unknown
  • #58,064
  • Jan 9, 2008 11:47am Jan 9, 2008 11:47am
Quoting mike w
Seriously...everybody here needs to start looking at higher charts. Check out your dailies, we had a pin bar which indicates price is going to move downwards after it rejected the higher price. I don't need a big system to tell me that and neither do you (everyone and anyone). I'm just saying that because I want the best for everybody here. look higher instead of lower. Stop looking for action, if that's what your looking for then go race motocross or something.
hi everybody, have been busy and away for sometime, sure nobody noticed that as I don't write much.. anyway, I feel like you Mike, the 214.1sh level has been tested thrice on the 4h TF since Jan the 3rd, it is working as a support but as the price hasn't largly bounced back I tend to think that the price insists to break this level and drop.

just a thought.
  • #58,065
  • Jan 9, 2008 11:49am Jan 9, 2008 11:49am
Quoting vinesh2
I will probably stay away from trading anything but my bias is short. There maybe a spike for a couple of days but then reallity will settle in and send the pound down again. Carry trade is still in unwinding mode and all long term indicators are pointing south but who knows its the big unknown
Good idea. there will a lot of opportunities tomorrow. No need to get caught on the wrong side. I am holding my short from 215.47 for gbp/jpy until the dow closes. Dow is off the lows for now, but it has been been a last hour sell off for the last 2 days. Maybe today that will change. Maybe not.
  • #58,066
  • Jan 9, 2008 11:59am Jan 9, 2008 11:59am
There maybe a slight spike in price due to tripple interest WED after that AUD is coming out with new which is going to be possitive for all YEN pairs might provide slight relief but after that not sure its going to get interesting during asian session imo
  • #58,067
  • Jan 9, 2008 12:09pm Jan 9, 2008 12:09pm
I have now closed my short and bought the dow last hour rally.
  • #58,068
  • Jan 9, 2008 12:16pm Jan 9, 2008 12:16pm
Quoting ovaforty
I have now closed my short and bought the dow last hour rally.
Right there with ya mate.

Dow not rallying as hard as expected, what is your upside target before looking to sell more?? Im thinking 215.15/20 or so.
"If it bleeds ... we can kill it"
  • #58,069
  • Jan 9, 2008 12:21pm Jan 9, 2008 12:21pm
Quoting ovaforty
I have now closed my short and bought the dow last hour rally.
knew this would happen thats y i was very tempted to buy the recent low. u can always expect a rally from the low on a wednesday between 3-5pm est, almost like clock work. but i will wait
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #58,070
  • Jan 9, 2008 12:23pm Jan 9, 2008 12:23pm
Quoting MMDealer
Right there with ya mate.

Dow not rallying as hard as expected, what is your upside target before looking to sell more?? Im thinking 215.15/20 or so.
i am targeting resistance at 215/215.25 area for a scalp up for my 1st target.
  • #58,071
  • Jan 9, 2008 12:30pm Jan 9, 2008 12:30pm
216.22 area is the daily 5 sma high. That is my 2nd possible target.
  • #58,072
  • Jan 9, 2008 12:32pm Jan 9, 2008 12:32pm
Quoting ovaforty
216.22 area is the daily 5 sma high. That is my 2nd possible target.
Havn't seen this mentioned yet, but price has just broken out of a massive bullish wedge. This is my rationale for buying. Probably would have like to see a pullback to the topside of wedge... but i feel she'll just run with it.
"If it bleeds ... we can kill it"
  • #58,073
  • Jan 9, 2008 12:44pm Jan 9, 2008 12:44pm
make of it what u will
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  • #58,074
  • Jan 9, 2008 12:48pm Jan 9, 2008 12:48pm
her ya go gl eeveryone

TRADE YOUR OWN PLAN NOT MINE! CHECK MARKS ARE NOT GUARANTEED AT ALL JUST A POSSIBILITY!
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  • #58,075
  • Jan 9, 2008 12:50pm Jan 9, 2008 12:50pm
Look out for it to spike down a little after 4 and then spike back up just before 5. Typical Wed action
  • #58,076
  • Jan 9, 2008 12:50pm Jan 9, 2008 12:50pm
Quoting ovaforty
216.22 area is the daily 5 sma high. That is my 2nd possible target.
overforty I am happy somebody is doing the same I am long as of 214.20 1st target 215.20, 2nd 216.16 if the move is strong up will move target to 217.
good luck
carl
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  • #58,077
  • Jan 9, 2008 12:51pm Jan 9, 2008 12:51pm
On The Other Hand Look At 4 Hour Lol
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  • #58,078
  • Jan 9, 2008 12:52pm Jan 9, 2008 12:52pm
Yeah i going to do a runner when i hit 50 pips profit... and wait for a short opportunity higher.
"If it bleeds ... we can kill it"
  • #58,079
  • Jan 9, 2008 12:54pm Jan 9, 2008 12:54pm
Quoting boomer1
overforty I am happy somebody is doing the same I am long as of 214.20 1st target 215.20, 2nd 216.16 if the move is strong up will move target to 217.
good luck
carl

215.20 HMMMMMM
  • #58,080
  • Jan 9, 2008 12:58pm Jan 9, 2008 12:58pm
i closed at 215.23 for +90 pips
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