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

  • #63,341
  • Feb 24, 2008 4:03pm Feb 24, 2008 4:03pm
Quoting mktjong
My hands is also itching to short it now, but I think it is trying to re-test 211.48ish. If that line rejects it, would go short from there
short off 211.4 once more

211 1st target.
Blogging daily now at www.volume.zone
  • #63,342
  • Feb 24, 2008 4:12pm Feb 24, 2008 4:12pm
Current intra-day trend to me is UP and this week it is going to be BULLISH

Enjoy trading
Trade what you see, not what you think.
  • #63,343
  • Feb 24, 2008 4:19pm Feb 24, 2008 4:19pm
Quoting karmostaji
Current intra-day trend to me is UP and this week it is going to be BULLISH

Enjoy trading
Thanks Karm.

Having fun already this week.

PS Lived in your neck of the woods for 4 years Jebel Ali .. worked on the desalination plant there back in early 90's
Blogging daily now at www.volume.zone
  • #63,344
  • Feb 24, 2008 4:19pm Feb 24, 2008 4:19pm
current trend is bearish. so go and sell
  • #63,345
  • Feb 24, 2008 4:21pm Feb 24, 2008 4:21pm
Quoting malcolmb14
short off 211.4 once more

211 1st target.
Huh .. you only go for 40 pips? I went short on Eur/Jpy, seems more bearish than this pair.. Tp around 158ish.
  • #63,346
  • Feb 24, 2008 4:24pm Feb 24, 2008 4:24pm
malcomb14 is right. 40 pips for current bearish is appropriate target. dont buy or ur at risk.
  • #63,347
  • Feb 24, 2008 4:27pm Feb 24, 2008 4:27pm
Quoting karmostaji
Current intra-day trend to me is UP and this week it is going to be BULLISH

Enjoy trading

JPY repatriation has begun

The end of March is the close of the Japanese financial year and the weeks leading up to it typically sees significant amounts of JPY-repatriation, which usually translates into sustained JPY-buying. Japanese asset managers typically liquidate large amounts of existing positions and turn the proceeds into JPY for balance sheet window-dressing and year-end results. The recent failure of USD/JPY in the mid-108 area suggests just such a development at work this past week. I continue to look for strength in the JPY-crosses to be limited by such repatriation selling interest, with the bulk of JPY-buying likely to be completed before the third week of March.


Alex
  • #63,348
  • Feb 24, 2008 4:32pm Feb 24, 2008 4:32pm
Quoting mktjong
Huh .. you only go for 40 pips? I went short on Eur/Jpy, seems more bearish than this pair.. Tp around 158ish.
I like to scalp in this market .. 10 - 20 standard lots. Got 65 pips today after commission.

65 pips x 6 days = 400 pips per week.

I used to swing trade but now sleep better at night with no positions open when i go to bed at night.

Right now I am done for the day ... will trade again tomorrow morning 4am to 1pm pst on forex and 6:30 am to 1 pm on dj-30 index.

There is 38.2% fib at 211.18 forming support right now.

The way I see this game is smaller lots size for bigger moves .. or go nuts with larger lot sizes on smaller moves.

50 pips a day , 20 lots = 10 k per day = $2.4 cool ones per year ... and that is based on only 5 days a week , 48 weeks of the year.
Blogging daily now at www.volume.zone
  • #63,349
  • Feb 24, 2008 4:33pm Feb 24, 2008 4:33pm
Quoting AlexFX
JPY repatriation has begun

The end of March is the close of the Japanese financial year and the weeks leading up to it typically sees significant amounts of JPY-repatriation, which usually translates into sustained JPY-buying. Japanese asset managers typically liquidate large amounts of existing positions and turn the proceeds into JPY for balance sheet window-dressing and year-end results. The recent failure of USD/JPY in the mid-108 area suggests just such a development at work this past week. I continue to look for strength in the JPY-crosses to be limited by such repatriation selling interest, with the bulk of JPY-buying likely to be completed before the third week of March.


Alex
Awesome info Alex .. confirms the shorts I am seeing in all the JPY crosses
Blogging daily now at www.volume.zone
  • #63,350
  • Feb 24, 2008 4:38pm Feb 24, 2008 4:38pm
+293 on NIKKEI

dj-30 futures up 60 .

new forum by me gbpjpy scalpers.
Blogging daily now at www.volume.zone
  • #63,351
  • Feb 24, 2008 4:54pm Feb 24, 2008 4:54pm
I hope all this 5min scalping going on here stops or something, because I'm sure it is confusing a lot of people here since the majority on this thread trade from 1H charts and above, thank you.
Trade what you see, not what you think.
  • #63,352
  • Feb 24, 2008 4:58pm Feb 24, 2008 4:58pm
Yes it does get confusing - almost time for a poll to vote for either 214 or 204.
History is written by the victors.
  • #63,353
  • Feb 24, 2008 5:07pm Feb 24, 2008 5:07pm
yay, we might get another buy zone coming up
"Millionaires don't use astrology, billionaires do"
  • #63,354
  • Feb 24, 2008 5:07pm Feb 24, 2008 5:07pm
Quoting AlexFX
JPY repatriation has begun

The end of March is the close of the Japanese financial year and the weeks leading up to it typically sees significant amounts of JPY-repatriation, which usually translates into sustained JPY-buying. Japanese asset managers typically liquidate large amounts of existing positions and turn the proceeds into JPY for balance sheet window-dressing and year-end results. The recent failure of USD/JPY in the mid-108 area suggests just such a development at work this past week. I continue to look for strength in the JPY-crosses to be limited by such repatriation selling interest, with the bulk of JPY-buying likely to be completed before the third week of March.


Alex
Great post Alex! And to add to that, Japanese banks will disclose subprime losses in february/march and there is apparently 250 Billion in sub-prime losses yet to be disclosed. If the Japanese banks took most of these losses ... then god help the carry trades. I hope GBGPJPY gets a move on and goes to 217/223 before march comes around!!
  • #63,355
  • Feb 24, 2008 5:07pm Feb 24, 2008 5:07pm
Yes I agree Karmo. Please stop with the scalp posts this thread was started by Aus for HTF trades and as Karmo's slogan mentions PATIENCE and patience only works with higher time frame trades.
  • #63,356
  • Feb 24, 2008 5:25pm Feb 24, 2008 5:25pm
Quoting karmostaji
I hope all this 5min scalping going on here stops or something, because I'm sure it is confusing a lot of people here since the majority on this thread trade from 1H charts and above, thank you.
Sorry Karm! I didn't see your post. I agree the scalping talk should be kept to a minimum.
  • #63,357
  • Feb 24, 2008 5:32pm Feb 24, 2008 5:32pm
current 1hr sippli demand
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"Millionaires don't use astrology, billionaires do"
  • #63,358
  • Feb 24, 2008 5:35pm Feb 24, 2008 5:35pm
Quoting malcolmb14
I like to scalp in this market .. 10 - 20 standard lots. Got 65 pips today after commission.

65 pips x 6 days = 400 pips per week.

I used to swing trade but now sleep better at night with no positions open when i go to bed at night.

Right now I am done for the day ... will trade again tomorrow morning 4am to 1pm pst on forex and 6:30 am to 1 pm on dj-30 index.

There is 38.2% fib at 211.18 forming support right now.

The way I see this game is smaller lots size for bigger moves .. or go nuts with larger lot sizes on smaller moves.



50 pips a day , 20 lots = 10 k per day = $2.4 cool ones per year ... and that is based on only 5 days a week , 48 weeks of the year.
lol. this thread is definitely not what it used to be!
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #63,359
  • Feb 24, 2008 5:38pm Feb 24, 2008 5:38pm
Quoting moneymagnet
lol. this thread is definitely not what it used to be!
DITTO!
  • #63,360
  • Feb 24, 2008 6:08pm Feb 24, 2008 6:08pm
I believe the purpose of the posting is to educate readers to make money, period. If your post either is for short, mid, or long term trade but don't make profit better don't post it. This kind of post is really causing readers to lose money.
So, my point is whatever trading technique is introduced and as long as is profitable and consistent, the post should be appreciated and learned from. It is ridiculous and stupid not to learn from it http://www.forexfactory.com/images/icons/icon8.gif
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