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

  • #66,521
  • Mar 7, 2008 4:53am Mar 7, 2008 4:53am
Quoting parlenk
Here is a chart i posted last night.So to say..let's see if the pattern going to be mature .Im watching that breakout too as well..LOL dont cry on the missing opp buddy..million opp out here as always.

Yeah, let's hope that breakout wasn't the last train

38.2 provide us with rock solid resistance. If price going down to 203.49 area again, I'm sure you're not the only one stalking up long positions.
Measure twice, cut once
  • #66,522
  • Mar 7, 2008 4:56am Mar 7, 2008 4:56am
Quoting aediaz1
Look at the drama when support-line was broken. Hope y'all made some good pips while I was sleeping and missing them all.
I was also asleep and missed this nice breakout trade. Now everything just seem to stop moving before NFP. I guess I got about 2 more hours for more nap before the big release.
  • #66,523
  • Mar 7, 2008 5:03am Mar 7, 2008 5:03am
all those that entered with me,if your not a long term trader now could be a good time to exit
Imanuel Parsifal
  • #66,524
  • Mar 7, 2008 5:04am Mar 7, 2008 5:04am
Going with recent actions on UJ. IMO I feel GJ might just follow the same trend...

Like I posted last night; UJ has finished its correction from the 107.90 Tanking. and ready for a continuation tp 100.70 TP1 or so.
http://www.alkaspace.com/free/spit_i...cff6e1ce2a6799

and GBPUSD is in for a correction soon; so we might see 203 before next weekend IMO.

http://www.alkaspace.com/free/spit_i...9fa1e09b2b609f

I Love this is:

News is Price, Price is News

NFP would decide next direction
  • #66,525
  • Mar 7, 2008 5:07am Mar 7, 2008 5:07am
I have a question

Who can answer it best ?

Can I place a stop sell at 205.80 and expect to get 204.20 today ??
  • #66,526
  • Mar 7, 2008 5:08am Mar 7, 2008 5:08am
Quoting forexlion
By the way, whoever designed the rainbow system, i must say it is real cool.

Look up Linuxtroll - Cyrox Rainbow... charge on.

John

Attached Image (click to enlarge)
Click to Enlarge Name: rainbow.gif Size: 17 KB
  • #66,527
  • Mar 7, 2008 5:09am Mar 7, 2008 5:09am
Quoting forexlion
I have a question

Who can answer it best ?

Can I place a stop sell at 205.80 and expect to get 204.20 today ??

no you cant you can never place a sell stop above the current price, but you can put a sell limit above the price
{Promotion Removed}
  • #66,528
  • Mar 7, 2008 5:11am Mar 7, 2008 5:11am
gbpjpy will drop down to around 201-200
{Promotion Removed}
  • #66,529
  • Mar 7, 2008 5:13am Mar 7, 2008 5:13am
G/J is looking very bearish after breaking past 206.00 down to 205. Further downward price action is most likely going to push the pair toward 204. It is possible we see a break of 203 today, after US new releases (with the continued climate of risk aversion any bad news may trigger a sell of pushing the U/J under 100 and taking the G/J with it..

Wild card here is BOJ has stated "That intervention is a possibility" Which means not if but when...


Active Trades

Short out of 207.25 (TP's hit while I was sleeping at 206, 205.50) Holding my best shorts for 204, and a test/break of 203..

S/L none: Hedge (long) on G/U considering the upwards momentum over the past few days or so..
Attached Image (click to enlarge)
Click to Enlarge Name: charts7.gif Size: 64 KB
  • #66,530
  • Mar 7, 2008 5:15am Mar 7, 2008 5:15am
Quoting forexpert310
gbpjpy will drop down to around 201-200
Excellent analyze, it truly helped many in here
Measure twice, cut once
  • #66,531
  • Mar 7, 2008 5:16am Mar 7, 2008 5:16am


Quoting forexpert310
no you cant you can never place a sell stop above the current price, but you can put a sell limit above the price
  • #66,532
  • Mar 7, 2008 5:17am Mar 7, 2008 5:17am
Quoting smmcintyre
G/J is looking very bearish after breaking past 206.00 down to 205. Further downward price action is most likely going to push the pair toward 204. It is possible we see a break of 203 today, after US new releases (with the continued climate of risk aversion any bad news may trigger a sell of pushing the U/J under 100 and taking the G/J with it..

Wild card here is BOJ has stated "That intervention is a possibility" Which means not if but when...


Active Trades

Short out of 207.25 (TP's hit while I was sleeping at 206, 205.50) Holding my best shorts for 204, and a test/break of 203..

S/L none: Hedge (long) on G/U considering the upwards momentum over the past few days or so..

u think its better to sell now or waiting the 205 break?
  • #66,533
  • Mar 7, 2008 5:23am Mar 7, 2008 5:23am
am looking at this bounce to be a big one.
Imanuel Parsifal
  • #66,534
  • Mar 7, 2008 5:23am Mar 7, 2008 5:23am
Quote
u think its better to sell now or waiting the 205 break?

Depends on your trading style, me might see a quick jump to 205.50 (might be a better entry), then again we may not see it it for some time :-).
  • #66,535
  • Mar 7, 2008 5:23am Mar 7, 2008 5:23am
A daily close below 204.40 is a good confirmation of the fall to 202 area, IMO[NFP is the fuel]. But watch out for 203.30 resistance.. since I missed the entry

Keeping it Simple [KISS]
http://www.alkaspace.com/free/spit_i...98f6b6982b6294
  • #66,536
  • Mar 7, 2008 5:28am Mar 7, 2008 5:28am
Quoting aediaz1
Excellent analyze, it truly helped many in here
  • #66,537
  • Mar 7, 2008 5:29am Mar 7, 2008 5:29am
I am also trying to get in short @ 205.7 - 205.8 area (Fibs, Gan)

Currently I am thinking through all the scenarios and the reactions of GBP/JPY.

* Weak NFP => dollar goes down, shares might rise because odds for another rate cut increase (maybe even emergency rate cut) => in case of emergency rate cut dollar should weaken a lot

=> GBP/JPY should go down also together with USD/JPY

* Good NFP => dollar goes up, shares go down because no further rate cut

=> unwinding of carry trades

=> GBP/JPY should go down also

Hmmmm... my conclusion is that in both cases it has to go down. And I can remember when we where @ 220 - 230 area where something similar happened. You did not have to take care of the news... GBP/JPY always went down.

Any experts who can correct this / comment on that? Not sure about that at all... just my observation...
  • #66,538
  • Mar 7, 2008 5:31am Mar 7, 2008 5:31am
Quoting smmcintyre
G/J is looking very bearish after breaking past 206.00 down to 205. Further downward price action is most likely going to push the pair toward 204. It is possible we see a break of 203 today, after US new releases (with the continued climate of risk aversion any bad news may trigger a sell of pushing the U/J under 100 and taking the G/J with it..

Wild card here is BOJ has stated "That intervention is a possibility" Which means not if but when...


Active Trades

Short out of 207.25 (TP's hit while I was sleeping at 206, 205.50) Holding my best shorts for 204, and a test/break of 203..

S/L none: Hedge (long) on G/U considering the upwards momentum over the past few days or so..
Hey Smmc,

Fellow BULL eater,

what the name of the indicator on the top left of your chart. Love it, can I have it ><:
  • #66,539
  • Mar 7, 2008 5:34am Mar 7, 2008 5:34am
Quoting ernesto
I am also trying to get in short @ 205.7 - 205.8 area (Fibs, Gan)

Currently I am thinking through all the scenarios and the reactions of GBP/JPY.

* Weak NFP => dollar goes down, shares might rise because odds for another rate cut increase (maybe even emergency rate cut) => in case of emergency rate cut dollar should weaken a lot

=> GBP/JPY should go down also together with USD/JPY

* Good NFP => dollar goes up, shares go down because no further rate cut

=> unwinding of carry trades

=> GBP/JPY should go down also

Hmmmm... my conclusion is that in both cases it has to go down. And I can remember when we where @ 220 - 230 area where something similar happened. You did not have to take care of the news... GBP/JPY always went down.

Any experts who can correct this / comment on that? Not sure about that at all... just my observation...
weak dollar will make GU skyrocket also, so GU up UJ down, GJ stuck.
Emergency rate cut will boost the equity markets and if the equity markets go up, carry trades go up.
Trade what you see, not what you think.
  • #66,540
  • Mar 7, 2008 5:35am Mar 7, 2008 5:35am
Quoting sycho
am looking at this bounce to be a big one.
I know
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