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

  • #90,261
  • Jun 6, 2008 3:26pm Jun 6, 2008 3:26pm
Quoting toyboy tramp
What about U/J? Thousand point drop on the DOW this last month and the U\J is in an uptrend, bearish flag admittedly but I thought those two were close, does the non-relation reflect that the money leaving equities is going into $ currency?

high oil prices kill the JPY . They import 100% of their oil. If the markets were dropping like this because of a banking issue then the JPY would be following , but because of oil prices also has a negative effect on JPY

I to was expecting a massive drop in GBPJPY ... but is just does not seem to be happening .... even the drop last Sunday was quickly recovered.

In the mean time trade the GBPCHF ...nice little 230 pip move in that bad boy today.1.9380 test I wonder ??? if gold breaks 1000 . Today GBPCHF broike the 50 sma on the daily and the bull flag on the daily . The move is due to massive weakness in USDCHF as gold gains strength
Blogging daily now at www.volume.zone
  • #90,262
  • Jun 6, 2008 3:27pm Jun 6, 2008 3:27pm
Quoting frevd
ok guys, it seems this is the beginning of a real crisis. this is no technical movement, so dont be overproud to have predicted it. though, it will stop at a technical level, panics do rush to them. its sad to watch all the world selling and implicitly destroying worldwide economy, but may it be. I'm out of this shit, cost me more than i wanted it to, I'm not going to support this stupid selloff any longer.
I would suggest you to join the crowd if you can't beat them. This is life of trading business.
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  • #90,263
  • Jun 6, 2008 3:27pm Jun 6, 2008 3:27pm
Quoting OrionsWay
Nice one, not myself but 4hrs is cooked u should make out nicely infinity
got some good support right in here
here's a chart infinity, grab a yard and a half anyways
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_31.gif Size: 82 KB
"Millionaires don't use astrology, billionaires do"
  • #90,264
  • Jun 6, 2008 3:28pm Jun 6, 2008 3:28pm
Quoting malcolmb14
high oil prices kill the JPY . They import 100% of their oil. If the markets were dropping like this because of a banking issue then the JPY would be following , but because of oil prices also has a negative effect on JPY

I to was expecting a massive drop in GBPJPY ... but is just does not seem to be happening .... even the drop last Sunday was quickly recovered.

In the mean time trade the GBPCHF ...nice little 230 pip move in that bad boy today.1.9380 test I wonder ??? if gold breaks 1000 . Today GBPCHF broike the 50 sma on the daily and the bull flag on the daily . The move is due to massive weakness in USDCHF as gold gains strength
Solid Malcomb thanks
Money & Pain Respect the market, protect your capital, be patient
  • #90,265
  • Jun 6, 2008 3:29pm Jun 6, 2008 3:29pm
Quoting malcolmb14
Bank of Canada rarely gives any surprises .

They are cutting rates next week as a strong CAD is causing pain in the economy here. US is our # 1 trade partner .. .according to my system USDCAD could hiut 1.05 next week.

shorts just make sure you set good stops.
Thanks for the info malcolmb.
  • #90,266
  • Jun 6, 2008 3:30pm Jun 6, 2008 3:30pm
Quoting malcolmb14
It is all oil I think ... but Asia should sell off .... oil high = usd low ( look at gu chart)

I gave up on GJ for now and went long GU yesterday ... moved stop to break even . GU target 2.000 next week. I just need to get through that 50 sma on the daily and she will be on her way.

also nice short on usdchf today on drop below support .

Also NO dent on my eurcad trade based on high oil (in fact it went higher today).... . as CAD is lowering interest rates this week to devalue CAD .,... so whoever shorted that ... GOOD LUCK with that. Still targeting 1.6400 by June 19th. maybe even higher
This is purely a technical play and stop is a above yesterday's high, very tight......I took this trade mainly based on the fact that we did not make a new high today and we are at a strong tl....Thanks for your good luck but I think I will see 100 to 200 pips before rate decision......if not, I wont lose much...
Patience + Discipline - Greed = Success
  • #90,267
  • Jun 6, 2008 3:31pm Jun 6, 2008 3:31pm
Quoting forexpert
I would suggest you to join the crowd if you can't beat them. This is life of trading business.
bro, dont rehash old stories, was during the last drop days ago, i was quite.. er.. angry.
  • #90,268
  • Jun 6, 2008 3:32pm Jun 6, 2008 3:32pm
Quoting OrionsWay
got some good support right in here
here's a chart infinity, grab a yard and a half anyways
Patience + Discipline - Greed = Success
  • #90,269
  • Jun 6, 2008 3:35pm Jun 6, 2008 3:35pm
Quoting Infinity

dont worry i'll let you out with my buying around there
"Millionaires don't use astrology, billionaires do"
  • #90,270
  • Jun 6, 2008 3:35pm Jun 6, 2008 3:35pm
Quoting Infinity
for Mike_W

Anyone else taking this cad short.......

I'm in at 1.02....
What's up Infinity! How ya been bro? Yeah I've been in since yesterday playing it aggressively and added more at 1.02 too. It looks like it will be a solid trade down to at least 1.00- I plan to take some off the table at that point.
I dream, therefore I become.
  • #90,271
  • Jun 6, 2008 3:35pm Jun 6, 2008 3:35pm
Quoting frevd
i'm operating on standard deviation, it is at +3, it must go back to parity first - no other way (but i'm not targeting the whole thing).
Here is my daily .

The rapid rsi has only just passed into the overbought zone and the macd is wide open. I think we test at least top of the LR channel .... if not 1.0400.

Now if Bank of Canada drops rates and US hawkish ( as per Bernanke earlier this week) we could even spike to 1.06 /1.07

There is a 1-2-3 buy formation on the daily that gives:

61.8% @1.0203
78.6%1.0306
if this is broken we go to 128.6 @ 1.06

simple as that

Attached Image (click to enlarge)
Click to Enlarge Name: cad1.png Size: 166 KB
Blogging daily now at www.volume.zone
  • #90,272
  • Jun 6, 2008 3:35pm Jun 6, 2008 3:35pm
this is truely an addiction.
I spend more time in here than I spend time with my wife.
  • #90,273
  • Jun 6, 2008 3:37pm Jun 6, 2008 3:37pm
Quoting Infinity
This is purely a technical play and stop is a above yesterday's high, very tight......I took this trade mainly based on the fact that we did not make a new high today and we are at a strong tl....Thanks for your good luck but I think I will see 100 to 200 pips before rate decision......if not, I wont lose much...
as orion mentioned the 4 hour is cooked so you may just get that 100 pips you are looking for

I will be looking to get long on the pull back if there is one.
Blogging daily now at www.volume.zone
  • #90,274
  • Jun 6, 2008 3:40pm Jun 6, 2008 3:40pm
Quoting malcolmb14
Now if Bank of Canada drops rates and US hawkish ( as per Bernanke earlier this week) we could even spike to 1.06 /1.07
Nah, c'mon, this is a high probability trade. We have +3 stddev (30day) and weekly and monthly resistance directly above it. stop loss at above 1.0250, target at 1.0, good p&l.
  • #90,275
  • Jun 6, 2008 3:41pm Jun 6, 2008 3:41pm
Quoting malcolmb14
Here is my daily .

There is a 1-2-3 buy formation on the daily that gives:

61.8% @1.0203
78.6%1.0306
if this is broken we go to 128.6 @ 1.06

simple as that

Attachment
Malcomb,

Where can I get the low down on these 1-2-3 buy/sell formations, sounds like a good tool. I use trend, s/r, EW, and divergence, (+pa and patterns of course), think it might compliment the arsenal...

Thanks
Money & Pain Respect the market, protect your capital, be patient
  • #90,276
  • Jun 6, 2008 3:41pm Jun 6, 2008 3:41pm
hey malcomb...i have seen lots of talk about this 1-2-3 buying thing. do you mind going into that briefly...it is very new to me....

thanks
"Keep your eyes on the helpers" - Mr. Rogers
  • #90,277
  • Jun 6, 2008 3:42pm Jun 6, 2008 3:42pm
Read some Joe Ross
"Millionaires don't use astrology, billionaires do"
  • #90,278
  • Jun 6, 2008 3:42pm Jun 6, 2008 3:42pm
Quoting toyboy tramp
Japan are 2nd in holding $ reserves only to China...
Intervention? Cause it doesn't make sense at all to me, lately, when the USD loses value against the yen, due to US bad news, or whatever, the yen gets rewarded and gains against the other pairs, and vise versa.
  • #90,279
  • Jun 6, 2008 3:43pm Jun 6, 2008 3:43pm
Quoting mike w
What's up Infinity! How ya been bro? Yeah I've been in since yesterday playing it aggressively and added more at 1.02 too. It looks like it will be a solid trade down to at least 1.00- I plan to take some off the table at that point.
Hi Mike,

This has been an absolutely wonderful week for me! I have been following your journal and I see your trades are doing great! This Cad trade looks like a nice setup for 100 to 200 pips at least. My first target is 1.01 then 1.00.
Have a great weekend bro and good luck to you
Patience + Discipline - Greed = Success
  • #90,280
  • Jun 6, 2008 3:43pm Jun 6, 2008 3:43pm
Quoting OrionsWay
Read some Joe Ross
joe ross....about 1-2-3?
"Keep your eyes on the helpers" - Mr. Rogers
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