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

  • #83,681
  • May 22, 2008 2:19pm May 22, 2008 2:19pm
Quoting lilmoe


i believe so too, but i will change my view if we maintain this level friday-monday
Change like the wind hey.
  • #83,682
  • May 22, 2008 2:20pm May 22, 2008 2:20pm
Well it only took a few days for them shorts to get spanked
"Millionaires don't use astrology, billionaires do"
  • #83,683
  • May 22, 2008 2:20pm May 22, 2008 2:20pm
It seems this movement started in Asia and I suspect that the banks otherwise known as robbing theiving bastards knew what was coming with the news and made the most of it, my 2% for what its worth...

Alex
  • #83,684
  • May 22, 2008 2:21pm May 22, 2008 2:21pm
about 2 years back, i was a person who was very firm with my trading positions in the sense when I made a mistake, i refuse to admit it and I was very optimistic that the trend will 'soon' follow as my positions.

I was so optimistic till I blew a few accounts to nill !!

So, lesson learnt is "The Trend Is Always Your Friend" .

So I am wondering all the way here, on why some of you guys are so positive that the price will drop. I was here since 16hrs ago and till now many have been saying that it heading down, but to no avail. Isn't it a better and safer to ride with the wave rather than go against it?

Figure it yourself, on how much you could have make if you would have been with the trend, then see how much you have lose out.
  • #83,685
  • May 22, 2008 2:24pm May 22, 2008 2:24pm
Orion what's your take on this. Trend is down is this just a spike for the overall trend?
  • #83,686
  • May 22, 2008 2:25pm May 22, 2008 2:25pm
Quoting AlexFX
It seems this movement started in Asia and I suspect that the banks otherwise known as robbing theiving bastards knew what was coming with the news and made the most of it, my 2% for what its worth...

Alex
  • #83,687
  • May 22, 2008 2:27pm May 22, 2008 2:27pm
Quoting vinesh2
I think this is the time for reversal fellas. Here we go
did you mean it will start to go down from 206.45
  • #83,688
  • May 22, 2008 2:28pm May 22, 2008 2:28pm
Quoting WarrenBuffet
205 breach is a significant event to break from the medium downtrend and develop into an uptrend.


Peak oil supports cable while stronger USD supports usd/jpy.


if u wanna be a billionaire, buy every dip.
gb = net oil importer = peak oil spells disaster for gb
  • #83,689
  • May 22, 2008 2:29pm May 22, 2008 2:29pm
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  • #83,690
  • May 22, 2008 2:29pm May 22, 2008 2:29pm
The trend is your friend and the Daily is DOWN. This spike has stretched the limits of what the bulls can do inside current channels and s/r. I'm short until this touches the lower t/l on the weekly. Then we can talk about 251.
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #83,691
  • May 22, 2008 2:30pm May 22, 2008 2:30pm
Quoting vinesh2
Orion what's your take on this. Trend is down is this just a spike for the overall trend?

LT trend is up, medium term trend is down, correction?. sht trend is up

I have had a bullish stance on this pair we may test the lo of that consolidation again as it plays in time further out.

I missed the break so have no position but there will be plenty of opportunity i think
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"Millionaires don't use astrology, billionaires do"
  • #83,692
  • May 22, 2008 2:31pm May 22, 2008 2:31pm
Quoting shakesfx
I had a problem before with tight SL's being hit all the time. I've come to realise with this pair that large SL's seem to work well to counter the huge swings. If the SL's get hit then fine, but I really do expect a retracement. I'm not married to the trade, just holding it till either TP or SL. Money management is at 2-4% per trade using agressive strategy.
except you are a scalper, your SL matterss alot. i always use 100pips SL, dis gives GJ enuf room to dance around even when news comes comes out,

Remember price is news news is price, d market probably already knew d news was good, and it reflected in price,

Basically i just trade what ever i see on GJ charts, i look at UJ GU i look at oil , gold , DOW.

but only for confirmation of trades, if i dont get confirmation i just trade wht GJ tells me, bcos i know GJ wont always follow UJ, sometimes it follows GU
  • #83,693
  • May 22, 2008 2:42pm May 22, 2008 2:42pm
Broke 205.00 (tough resistance) soundly and then some.
Looks like we revisit 207.50-209.00 area again.

Question is when does this disconnect between equities and carry trades end ?

When it does will the roaring bears come out to play ?

DJIA can't hold onto any of its gains. Looks like today will be flat or slightly up.

400 points down in 2 days and the good ole Geppy is like the energizer bunny.

We have seen this before, just before a large decline.

Look back on DJIA daily charts and G/Y daily charts.

Nice pippage today, hope everyone made out !
  • #83,694
  • May 22, 2008 2:43pm May 22, 2008 2:43pm
Does any one notice that the Daily candle pattern looks similar to back around March 12th. A couple of days of consolidation and then a break up to 207.95 region and then back down? I maybe wrong but check it out
  • #83,695
  • May 22, 2008 2:44pm May 22, 2008 2:44pm
Quoting ephisi
except you are a scalper, your SL matterss alot. i always use 100pips SL, dis gives GJ enuf room to dance around even when news comes comes out,

Remember price is news news is price, d market probably already knew d news was good, and it reflected in price,

Basically i just trade what ever i see on GJ charts, i look at UJ GU i look at oil , gold , DOW.

but only for confirmation of trades, if i dont get confirmation i just trade wht GJ tells me, bcos i know GJ wont always follow UJ, sometimes it follows GU

I was scalping yesterday, so of course used smaller SL's. But for the swing/ medium trades I use around 200 plus pips for SL's.

I'm not sure what G/J is saying at the moment, apart from severely overbought across the board.

I do know that things need to unwind, and this may be the point (206.50) for the retracement. GBP is reacting to a little good news and the fact that there may be no interest rate rises this year, so increasing carry trade volume. But, the UK is in the dark brown stuff and I expect a little "bad" news will launch us down South.

Also, the divergences are starting to work through the Charts, the 30min shows it best...what do you bros think??
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  • #83,696
  • May 22, 2008 2:44pm May 22, 2008 2:44pm
does anyone have any ideas concerning why carry and dow jones isnt correlating any more?
  • #83,697
  • May 22, 2008 2:52pm May 22, 2008 2:52pm
Quoting quecee5
Looks like no one cares about tripple interest Wed. anymore. . .
Today should be called quadruple interest Thursday...WTF....
Patience + Discipline - Greed = Success
  • #83,698
  • May 22, 2008 2:55pm May 22, 2008 2:55pm
Quoting VEC
does anyone have any ideas concerning why carry and dow jones isnt correlating any more?
Because everyone on this thread would be loaded if they were!
Money & Pain Respect the market, protect your capital, be patient
  • #83,699
  • May 22, 2008 2:56pm May 22, 2008 2:56pm
Quoting VEC
does anyone have any ideas concerning why carry and dow jones isnt correlating any more?

not sure PMS maybe
the way I'm looking at it is that it will correlate it's just a divergence that will correct itself.
  • #83,700
  • May 22, 2008 2:56pm May 22, 2008 2:56pm
Quoting Infinity
Today should be called quadruple interest Thursday...WTF....

they actually dbl teamed it, took last week off accumulating all week and again all this week and BOOM, they got paid heavy but just never moved price against their buying intrest. Crafty ppl playing this game.
"Millionaires don't use astrology, billionaires do"
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