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

  • #82,781
  • May 20, 2008 5:15pm May 20, 2008 5:15pm
I just returned home after driving over 2000 miles in the last few days. What a beautiful trip! Minnesota is a looker in the spring. Anyways... I've been on the charts for a couple hours and I think I'm the only one who is long today... It seems like everyones disposition is short today... I am using only fibs and have been following all the cycles to completion up to this point and my charts are showing long. So I am long to 205.32.

Scotty B
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  • #82,782
  • May 20, 2008 5:19pm May 20, 2008 5:19pm
Quoting karmostaji
Follow your charts

My target is 207


will say his target will be hit 1 year later when he wakes up in Tokyo hours seeing Geppy tanks to 199.

We follow our own charts for sure.
I AM NOT AGAINST ANY RETARD. I AM JUST AGAINST ANY WRONG/LOSING TRADES.
  • #82,783
  • May 20, 2008 5:20pm May 20, 2008 5:20pm
Thank you Malcombe for taking the time to post your analysis. Excellent bro, I think I'll hold onto these Shorts for a little longer (well until they get stopped out or hit TP that is, may take a few days at this rate )
  • #82,784
  • May 20, 2008 5:27pm May 20, 2008 5:27pm
Quoting shakesfx
Thank you Malcombe for taking the time to post your analysis. Excellent bro, I think I'll hold onto these Shorts for a little longer (well until they get stopped out or hit TP that is, may take a few days at this rate )

I often see usd/jpy dropping a few hundred pips in Tokyo hours.... can they do it for us today
I AM NOT AGAINST ANY RETARD. I AM JUST AGAINST ANY WRONG/LOSING TRADES.
  • #82,785
  • May 20, 2008 5:38pm May 20, 2008 5:38pm
Quoting WarrenBuffet
I often see usd/jpy dropping a few hundred pips in Tokyo hours.... can they do it for us today
U/J sitting at the same level for 10hrs now...very strange. Everything seems poised for a huge move...Once G/J breaks put of its range I think 1000 pips is on the cards over a week for sure. Problem is...Long or Short? No-one knows for sure, so I'll keep my Bermuda's. Obviously, now I've mentioned it I expect the market to move in the opposite direction to me

Happy trading tonight/tomorrow everyone, see you all at London open.
  • #82,786
  • May 20, 2008 5:41pm May 20, 2008 5:41pm
Quoting WarrenBuffet
will say his target will be hit 1 year later when he wakes up in Tokyo hours seeing Geppy tanks to 199.

We follow our own charts for sure.
No need to be rude.....

That is his view and based on his charts and it is quite possible that price may hit these levels soon.

There is another inside bar on the daily which I will play either way....until then......

Dow is short term bearish, Yen is bearish, Pound starting to look bullish, though the 1.9740 area is very critical, however the gj charts look quite bullish to me.....

This pair is quite undecided at the moment and I will resume trading it when it makes up its mind.

Bless
Patience + Discipline - Greed = Success
  • #82,787
  • May 20, 2008 5:41pm May 20, 2008 5:41pm
Quoting Scotty B
I just returned home after driving over 2000 miles in the last few days. What a beautiful trip! Minnesota is a looker in the spring. Anyways... I've been on the charts for a couple hours and I think I'm the only one who is long today... It seems like everyones disposition is short today... I am using only fibs and have been following all the cycles to completion up to this point and my charts are showing long. So I am long to 205.32.

Scotty B
I am with you

The close above the trendline on the 4 hour charts breaking the channel should be a big wake-up call for short term shorts. There really is no bearish bias unless it breaks the support between 202.70-203.30, its in a bullish pattern intraday.

As for a perspective for you all,

Draw a trendline from 95.72 Low on 3/17/2008 to 102.57 low on 5/12/2008

Is it any surprise as to where U/J is right now? Trendline today is at 103.60 current price is 103.66.

The fact that many of you are in shock about why U/J didn't drop today astounds me.....many of you should be looking at it as a wake up call. U/J is not dropping at this point in time, if it were going to it would have done so today with all the bearish dollar news, just like all the other pairs did.
In addition to that, GBP/JPY broke out of its bearish trend resistance, giving light to a temporary bullish upside. The daily candle closes for me in less than 2 hours....I am expecting volatility to pick up in Asian session in favor of the dollar.

U/J will rebound off the trendline, and I would start looking for 105.00 as a possibility. bringing 205.30-207.00 a very real possibility on G/J short term.

This temporary shift in my view does not mean that I am with 'OwningSoros' and his view of 251 in two weeks, which by the way my friend you now have 8 days to complete your arduous task.

Hope that helps you guys, look at your charts and trade them, don't hold on to a losing trade for the wrong reasons.
The only sovereign I can allow to rule me is reason.
  • #82,788
  • May 20, 2008 6:02pm May 20, 2008 6:02pm
welcome back scottyB!
  • #82,789
  • May 20, 2008 6:05pm May 20, 2008 6:05pm
Quoting Evilgoat
i love your quote
"It is not impossible to become a Millionaire; but to become a Billionaire you need an Astrologer!"-JP Morgan
Likewise Evilgoat I like ur sign also may the pips be w/us! Happy trading dude!
  • #82,790
  • May 20, 2008 6:12pm May 20, 2008 6:12pm
Quoting pearsonfx
I am with you

The close above the trendline on the 4 hour charts breaking the channel should be a big wake-up call for short term shorts. There really is no bearish bias unless it breaks the support between 202.70-203.30, its in a bullish pattern intraday.

As for a perspective for you all,

Draw a trendline from 95.72 Low on 3/17/2008 to 102.57 low on 5/12/2008

Is it any surprise as to where U/J is right now? Trendline today is at 103.60 current price is 103.66.

The fact that many of you are in shock about why U/J didn't drop today astounds me.....many of you should be looking at it as a wake up call. U/J is not dropping at this point in time, if it were going to it would have done so today with all the bearish dollar news, just like all the other pairs did.
In addition to that, GBP/JPY broke out of its bearish trend resistance, giving light to a temporary bullish upside. The daily candle closes for me in less than 2 hours....I am expecting volatility to pick up in Asian session in favor of the dollar.

U/J will rebound off the trendline, and I would start looking for 105.00 as a possibility. bringing 205.30-207.00 a very real possibility on G/J short term.
I don't think U/J will bounce off its trendline. If there were plenty of buyers wouldn't they have bought there? With a distinct lack of buyers at this level, I think we will see U/J and G/J head lower during Asian. Looking forward to the next 12hrs...
  • #82,791
  • Edited 6:31pm May 20, 2008 6:15pm | Edited 6:31pm
hi all,
date 20 may..
yday Dow Closed -199.48
yday Nasdaq Closed -23.83
yday Nikki Closed -109.52
===
So Today 21 May The Dirction Strong Moving Down For GJ/UJ/EJ..
Will Start Move Down During Jpy Market and US Market.
===
yday GJ Closed at 204.02
yday Hi 204.78
Pivot 203.69
mY Calc..for GJ today is..
Start TP 202.90
201.78
200.66
End TP 197.30
Dirction strong moving down [SELL]
nice trade......
  • #82,792
  • May 20, 2008 6:15pm May 20, 2008 6:15pm
The dj-30 is at the bototm of its bear flag on the daily.

The 50% move 13775 to 11665 is right at 12705 , which I think will be tested tomorrow. If we break this then the dj-30 will liekly drop down into 12200.

I would be very surprised if the GJ did not follow it ,as it has on every other major move down in the markets recently. Maybe GJ just has catch up to do and forex traders do not believe that the 12700 will not give way on the dj-30.

So far this week it has been a VERY volatile week trading the YM ( dj-30 emini futures , 400 point movement both yesterday and today) indicating that a top may be in place on the dj-30 for now as maximum volatility comes in at tops and bottoms.

This may have some downside effect on the GJ.
Blogging daily now at www.volume.zone
  • #82,793
  • May 20, 2008 6:17pm May 20, 2008 6:17pm
I has OP in GBP/JPY 200.17 and i set SELL position. And now is still open.
How about u allllll.
The GJ will be down????
Please give me some PIPS
  • #82,794
  • May 20, 2008 6:18pm May 20, 2008 6:18pm
Quoting 4x_Trader
Likewise Evilgoat I like ur sign also may the pips be w/us! Happy trading dude!

Thanks man I think the pips will be with my short on the geppy soon I just played it a few songs on the guitar to make her sad.
  • #82,795
  • May 20, 2008 6:29pm May 20, 2008 6:29pm
Bullish vs Bearish.

200 pip 4HR candle and the bulls peak their heads out.
But are we not basically just about where we started from ?
25 pips from 203.50.
Unless the Dow can rally back its 200 points tomorrow and the global equities have a big up day (night for me) I just don't see the bullish aspect of this.
Most global equity markets were down yesterday into the US market open, what would be the motivation for more buyers to come into the markets right now ?

Early tomorrow a.m. we have UK MPC meeting minutes, the more votes for a cut the pressure will be on to sell the pound.

Tomorrow afternoon we have FOMC meeting minutes.
No more rate cuts because of obvious inflation, how will the whiners on Wall Street react ? I want a rate cut, now I don't, now I don't know what I want, give me a bottle of oil and we all will be in the crapper.

USD/JPY broke the DAILY T/L to the downside. Period.
Only a matter of time before it breaks down.

We have not been able to breach the 205.00 area since May 8th, I just don't see what could possible provide the momentum to go above this area. One 200 pip 4 hour candle for the GBP/JPY is peanuts. Does it change the obvious downtrend we are in ? (it already gave 1/2 of it back).


Next 24 hours fundamentally is crucial and this is one of those times that indicators, t/l's, oscillators are not going to show the way. Price action will dictate.

Hope we all make good trades regardless of direction.

Interesting times my fellow traders, interesting times.
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  • #82,796
  • May 20, 2008 6:35pm May 20, 2008 6:35pm
geppy every time you go up god kills a kitten.

http://i268.photobucket.com/albums/j...n704528ab4.jpg

I think you know what to do now don't you geppy.
  • #82,797
  • May 20, 2008 6:38pm May 20, 2008 6:38pm
Quoting Evilgoat
geppy every time you go up god kills a kitten.



I think you know what to do now don't you geppy.
Geppy has no heart. Geppy thinks kittens are tasty. Here kitty kitty.
  • #82,798
  • May 20, 2008 6:40pm May 20, 2008 6:40pm
http://i268.photobucket.com/albums/j...t01/kane-1.jpg


I'll send my dog after it than.
  • #82,799
  • May 20, 2008 6:42pm May 20, 2008 6:42pm
Quoting Evilgoat
geppy every time you go up god kills a kitten.


I think you know what to do now don't you geppy.
  • #82,800
  • May 20, 2008 6:47pm May 20, 2008 6:47pm
Why the Dirction is down today until end of week.
becoues the yday Dow=Down and yday Nikki = Down

nice trade......
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