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

Quoting kotaro-san

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hey i short early today on asian session n there was a rejection. now UJ suddenly reversing up.

i smell BULLISH

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Quoting forexlion

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wash smelly undies

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Quoting auslanco

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Here you go folks.. If you are short, Watch out..

GJ could Breakout to the upside

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Quoting malcolmb14

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I do position trade , EURCAD is the one I like as it moves in very nice orderly waves ,(I have been in a long since 1.4876) whereas GBPJPY moves in these massive 500 pip wide bands. I do not like my account being drawn down that much.

So I day trade GBPJPY. , scalping is different , if you scalp you are going with large lots for 10 - 20 pips a time.

I traded gbpjpy for 100 pip drop today at close (40 min)

Think this is a daily chart below ? Nope 1 min. If you know how to trade channels it is good pipping. I traded this also .

I did not trade gbpjpy during the morning as i traded YM instead (dj-30 emini futures) that move 2 times what the GBPJPY moves in a day.

When you trade on a 5 min chart , you have to pick the time you are in the markets , some times are more volatile than others. I typically like to trade Euro / USD overlap as there are always good trades to be made . I also love the last 1.5 hours of US market close as there seems to be some good trades to be had at that time also these days. Today for example there was lots of longs taking proifit at end of market that dropped the indexes quickly, and dragged the gbpjpy down with it. Look back at Friday last week we had a nice move up in the GBPJPY from 11:30 am (Pacific standard time) on as short covering was taking place in the stock markets. The indices and GBPJPY are still very much connected.

Targets in this volatile market 100 - 150 pips per day , which is VERY achievable.

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Quoting auslanco

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Here you go folks.. If you are short, Watch out..

GJ could Breakout to the upside

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Quoting rodders

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I am leaning to the bearish side for the long term in this market but for what it's worth here is an opposing view. My wife just sent me this.

From: RUSSELL CHIN (LEHMAN BROTHERS JAPA)
At: 3/18 8:58:16

Lehman US Credit Analyst Ashish Shah, who was right in his negative view of
financial credits until now, today believes the time has come to cover shorts
and buy broker and money center bank credit. "The Fed has finally intervened
with overwhelming force. The Bear run has at last driven policymakers to
aggressive confidence boosting action; the regulatory authorities now understand
that the time for half-measures is over and yesterday's move signals a major
campaign - the Fed will win this liquidity battle. In this context, the time
has come to change our view on financials." 2 reasons: (1) Spreads are at
attractive fundamental levels - breached the wides seen in both 1990/91 and
2001/02, and the cheapest in 20 years vs. industrials. (2) The regulatory
response will be as aggressive as necessary to restore confidence - the key
point is that they will not cease intervention until connditions stabilize. The
Bear bailout has set the boundries of "too big to fail." Notable on the back of
this call CDS for the 4 remaining major brokers tightened last night. Global
Equity Strategtist Ian Scott is saying the numbers in Japan are not as bad as
the market is pricing in. Indeed, very quietly indicators are starting to turn
up: small business sentiment, wage growth, and consumer spending. Yes,
Yen/Dollar has collapsed but the US is only 20% of Japan's exports. History has
shown that when there is a peak in analyst earnings downward revisions, this
usually is followed by a jump in the market. Japan 2008 GDP forecasted +1.6%
vs. US +1.0%. So what to buy in the Japan wreckage? Walter Altherr recommends
the brokers, as they are diametrically opposite to Bear. Focus is on Equities,
not Fixed Income. Businesses in asset management and retail require little
capital while Bear only had 10% of its reveneus here. Nomura/Daiwa have very
little in prime brokerage and as they have both been buying back stock (Daiwa
1.8% of outstanding last month) there is no sign of liquidity crisis. Nomura
bottomed at P/B 1.1x in 1998 and today we stand at exactly the same level.
Y1,400 matches the lows hit in 1992, 1997, 1998, and 2002. Cover shorts.

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Quoting rodders

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Here's one more about Japan "De-coupling" from the US.

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Quoting kotaro-san

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i have read an article saying US Dollar will no longer be the peg currency. it will be replaced with a new one named Amero

http://www.humanevents.com/article.php?id=15017

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Quoting quecee5

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I agree long looking good from 4hr chart as well. . .
ZL Stoch starting cross-up and looks to have room to move up.

Once we get above 4hr gann hi/lo we should see a move toward 198 area 1st target. . . Daily also looking bullish as well.

Good luck to all longs =

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