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

  • #82,641
  • May 20, 2008 10:14am May 20, 2008 10:14am
I don't normally look at lower timeframes, but today I'm looking for setups developing from lower timeframes into higher ones. What I see on the 30m is a Reversal back down according to the last 3 candles. This senario would only be valid if this last candle closes in 18mins at 203.99/204.05, and push us back to mid 203 for a re-think.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp jpy 30m.gif Size: 21 KB
  • #82,642
  • May 20, 2008 10:15am May 20, 2008 10:15am
Quoting WarrenBuffet
how to protect those shorts? by shorting more?
Never over-leverage .. always leave plenty of room for position averaging. Yes, I shorted more at higher price and close some when it has some nice pips. Like this morning, I closed a couple positions at 4H 5 sma and still a couple on the table. Then the price went up, I shorted again .. and take some out if it is in nice profit. It is a small part of a complex money management :-)
Play with it.. use some creative Money Management strategy ..
  • #82,643
  • May 20, 2008 10:21am May 20, 2008 10:21am
Touched the 55 EMA on the daily, and there's much more resistance up there above the EMA than there is down below IMVHO. The last touch signaled the beginning of the tight downtrend. Well within the confines of the larger move down. Also have an OB forming, but it's got a way to go, and if you look closely its choosing what type of bermudas to go diving in.
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #82,644
  • May 20, 2008 10:24am May 20, 2008 10:24am
Quoting toyboy tramp
Touched the 55 EMA on the daily, and there's much more resistance up there above the EMA than there is down below IMVHO. The last touch signaled the beginning of the tight downtrend. Well within the confines of the larger move down. Also have an OB forming, but it's got a way to go, and if you look closely its choosing what type of bermudas to go diving in.

  • #82,645
  • May 20, 2008 10:27am May 20, 2008 10:27am
Looks bearish on 15 min chart H&S
  • #82,646
  • May 20, 2008 10:28am May 20, 2008 10:28am
Quoting lilmoe
she's team forex today bro
Back to UJ
  • #82,647
  • May 20, 2008 10:36am May 20, 2008 10:36am
Quoting Dmac
Looks bearish on 15 min chart H&S
I would say more bullish on 15 min/30 min chart.....Bullish triangle/wedge whichever you want to call it
The only sovereign I can allow to rule me is reason.
  • #82,648
  • May 20, 2008 10:37am May 20, 2008 10:37am
Man, this is FiSHY.. Dow over -191 but all YEN (carry) pairs are on Hold...
  • #82,649
  • May 20, 2008 10:37am May 20, 2008 10:37am
Dam really hate the Geppy today. Completely lost its correlation with DOW hope its not like December 07 when a lot of people got wiped out b/c they were depending on the correlation. What a day!
  • #82,650
  • May 20, 2008 10:40am May 20, 2008 10:40am
Quoting Piters
Man, this is FiSHY.. Dow over -191 but all YEN (carry) pairs are on Hold...
The CHF crosses are down like a rock. Maybe cause Tokyo is asleep, and nobody is selling their yen for them.
  • #82,651
  • May 20, 2008 10:41am May 20, 2008 10:41am
Bullish chart
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY17.GIF Size: 41 KB
The only sovereign I can allow to rule me is reason.
  • #82,652
  • May 20, 2008 10:42am May 20, 2008 10:42am
I see a big breakout coming and my bias is to the downside cause I am looking at the European futures and they are RED all over. However, MPC meeting minutes tomorrow may change that slightly. Hell of a day to start.
  • #82,653
  • May 20, 2008 10:43am May 20, 2008 10:43am
Quoting Piters
Man, this is FiSHY.. Dow over -191 but all YEN (carry) pairs are on Hold...
yeah .. it's really fishy .. I think it's just a matter of time.
Paper can't wrap the fire ..
  • #82,654
  • May 20, 2008 10:49am May 20, 2008 10:49am
Quoting mktjong
yeah .. it's really fishy .. I think it's just a matter of time.
Paper can't wrap the fire ..
As much as the dow is correlated with the carry trades, that doesn't mean that European banks cant still charge whatever they want for their currencies. It was only a matter of time the euro, and pound made a come back after weeks of beating. Looks like the chf carry trades followed the dow, but the jpy crosses did not. Oh, also the chf had some good data.
  • #82,655
  • May 20, 2008 10:55am May 20, 2008 10:55am
Quoting Clouds
As much as the dow is correlated with the carry trades, that doesn't mean that European banks cant still charge whatever they want for their currencies. It was only a matter of time the euro, and pound made a come back after weeks of beating. Looks like the chf carry trades followed the dow, but the jpy crosses did not. Oh, also the chf had some good data.
It looks like GU holding it.
  • #82,656
  • May 20, 2008 10:56am May 20, 2008 10:56am
Gbp/usd * usd/jpy = gbp/jpy
  • #82,657
  • May 20, 2008 10:58am May 20, 2008 10:58am
not to forget:

eur/usd * usd/jpy = eur/jpy
  • #82,658
  • May 20, 2008 11:00am May 20, 2008 11:00am
London, Europe CLOSE.. now is going to be interesting
  • #82,659
  • May 20, 2008 11:02am May 20, 2008 11:02am
Quoting Piters
Man, this is FiSHY.. Dow over -191 but all YEN (carry) pairs are on Hold...

i'm expecting cable to reach 1.9740 area, i do think that's what's keeping GJ from a big ars dump
  • #82,660
  • May 20, 2008 11:03am May 20, 2008 11:03am
Quoting mktjong
It looks like GU holding it.
Patience + Discipline - Greed = Success
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