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

  • #90,381
  • Jun 7, 2008 12:46pm Jun 7, 2008 12:46pm
Next week the dj might well break down 12180( bottom of weekly bear flag). If she does I would imagine the carry trades would unwind , and even though gu and eu could keep going up the move will ber driven by weakness in the UJ.

I have a 1-2-3 sell formation on the GJ 2 hour right now with downside targets 203.88 and lower (210.28)

As long as oil remains high the overall US stock markets are going to go down.

Also note how even though the US stock markets regained some of their losses in the middle of last week , the Euro markets still took a dive. This week the euro market move down will be accelerated by the high price of oil.

The move down in GJ will start with a gap down on Sunday , that likely will NOT fill .

Black Monday ???? is this possible this week.
Blogging daily now at www.volume.zone
  • #90,382
  • Jun 7, 2008 12:47pm Jun 7, 2008 12:47pm
hi,

just call me forexgodess, eventhough i can't understand some forex terms

20 years old, from the philippines..

i got interested in forex 2 years ago, since it was part of my subjects in college (Economics 308),

what else??? hmmm...

just let me know...

i'll post it here..
I'm not an expert but I can read charts.
  • #90,383
  • Jun 7, 2008 12:49pm Jun 7, 2008 12:49pm
Quoting lilmoe
yea ukvipersden, a nice "gift" would be nice for piters
i see: u looking for a bust-up
http://www.forexfactory.com/member.php?u=45561


as below:
Quoting ukvipersden
I do indeed: BUT, a few people seem to be offended by them. I ask you: should such people be trading forex for a living??? It doesn't compute

http://tbn0.google.com/images?q=tbn:...ed.com/404.jpg
  • #90,384
  • Jun 7, 2008 12:52pm Jun 7, 2008 12:52pm
I am George Soros, the man who broke the Bank of England in 1992 by shorting billions of cable on leverage.

Cable dropped 1900ish pips in a day.


Quoting forexgodess
hi,

just call me forexgodess, eventhough i can't understand some forex terms

20 years old, from the philippines..

i got interested in forex 2 years ago, since it was part of my subjects in college (Economics 308),

what else??? hmmm...

just let me know...

i'll post it here..
greed+gluttony+self-indulgence+craving= success
  • #90,385
  • Jun 7, 2008 12:54pm Jun 7, 2008 12:54pm
coz I closed my shorts already.....I was so disappointed with that limited dip on Fri....


wanna re-short it higher.



Quoting malcolmb14
Next week the dj might well break down 12180( bottom of weekly bear flag). If she does I would imagine the carry trades would unwind , and even though gu and eu could keep going up the move will ber driven by weakness in the UJ.

I have a 1-2-3 sell formation on the GJ 2 hour right now with downside targets 203.88 and lower (210.28)

As long as oil remains high the overall US stock markets are going to go down.

Also note how even though the US stock markets regained some of their losses in the middle of last week , the Euro markets still took a dive. This week the euro market move down will be accelerated by the high price of oil.

The move down in GJ will start with a gap down on Sunday , that likely will NOT fill .

Black Monday ???? is this possible this week.
greed+gluttony+self-indulgence+craving= success
  • #90,386
  • Jun 7, 2008 12:57pm Jun 7, 2008 12:57pm
Quoting OwningSoros
the full title of MBA there?
MBA or MBNA: their credit rating sucks
  • #90,387
  • Jun 7, 2008 12:59pm Jun 7, 2008 12:59pm
Quoting ukvipersden
MBA or MBNA: their credit rating sucks

got a high rating in this thread.
greed+gluttony+self-indulgence+craving= success
  • #90,388
  • Jun 7, 2008 1:00pm Jun 7, 2008 1:00pm
Quoting malcolmb14
Next week the dj might well break down 12180( bottom of weekly bear flag). If she does I would imagine the carry trades would unwind , and even though gu and eu could keep going up the move will ber driven by weakness in the UJ.

I have a 1-2-3 sell formation on the GJ 2 hour right now with downside targets 203.88 and lower (210.28)

As long as oil remains high the overall US stock markets are going to go down.

Also note how even though the US stock markets regained some of their losses in the middle of last week , the Euro markets still took a dive. This week the euro market move down will be accelerated by the high price of oil.

The move down in GJ will start with a gap down on Sunday , that likely will NOT fill .

Black Monday ???? is this possible this week.
Agreed with this analysis. As for oil, I see nothing getting in the way of higher 140's now as it is completely speculator driven. I hope some of you guys got in at the 120's dip. Beat out those gas prices lol. The u/j is definitely a solid trade opportunity right now as the technicals are looking for this downfall to take place. G/U, I expect, will keep going higher now just based on the monthly technicals, but nowhere near enough as U/J will fall. I'm looking to see those lower lows hit, but as a conservative target I will be placing some T/Ps at 101.
I dream, therefore I become.
  • #90,389
  • Jun 7, 2008 1:02pm Jun 7, 2008 1:02pm
regarding gbpjpy....the highest i see this pair going tomorrow if it does go highere and if might would be 208 ish....

my current tl's with strong resistence above 208.50 leads me to believe that for now fundamentals would have to change to send this pair any higher than this area.....looks to me like this pair for the short term is bearish and we may need to see usdjpy to hit a lower t/l and bounce before we will see any big raly for gbpjpy......

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 149 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #90,390
  • Jun 7, 2008 1:04pm Jun 7, 2008 1:04pm
Quoting OwningSoros
we are all bachelors if not MBA.
MBA?
"Keep your eyes on the helpers" - Mr. Rogers
  • #90,391
  • Jun 7, 2008 1:05pm Jun 7, 2008 1:05pm
Quoting OwningSoros
coz I closed my shorts already.....I was so disappointed with that limited dip on Fri....


wanna re-short it higher.

I think the best is yet to come
Blogging daily now at www.volume.zone
  • #90,392
  • Jun 7, 2008 1:07pm Jun 7, 2008 1:07pm
Quoting malcolmb14
I think the best is yet to come
gebby is be(a)st no more
  • #90,393
  • Jun 7, 2008 1:08pm Jun 7, 2008 1:08pm
jawboning USD again at weekend to get bears trapped.




are there any good re-shorting levels? another guy mentioned 208ish? can we see it again next week?


Quoting malcolmb14
I think the best is yet to come
greed+gluttony+self-indulgence+craving= success
  • #90,394
  • Jun 7, 2008 1:15pm Jun 7, 2008 1:15pm
Hi all. Here is my view on GBP/JPY. I am calling a bottom.
No more waves down, nothing.
It will either go up, or we will have a few years of 210 -195 area.
After the darkness, comes the dawn.
Attached Image
  • #90,395
  • Jun 7, 2008 1:17pm Jun 7, 2008 1:17pm
Quoting Clouds
Hi all. Here is my view on GBP/JPY. I am calling a bottom.
No more waves down, nothing.
It will either go up, or we will have a few years of 202 -209 area.
After the darkness, comes the dawn.
Attachment
If you really believe that's the case, then why not wait for a good price and then hold for a long time to collect interest on top of your position.
I dream, therefore I become.
  • #90,396
  • Jun 7, 2008 1:23pm Jun 7, 2008 1:23pm
Quoting forexgodess
hi fellow traders,

i'm a newbie, i really want to gather some informations about GJ, i've been trading for more than a year now, but these past few months only that i had focused more attention on my trading system, i read, blog, forums, thread about systems, inidcators, ea, etc...

but i only got is head ache

but anyways, i'm focusing right now on GJ,

i hope other traders here in this thread especially you, Auslanco, might be a good help for me...

i'm trying do make my own style in trading i hope it will work out good..

my target is not less than 1% daily profit, (isn't it too BIG?????)

WELL, KEEPING MY FINGERS CROSSED!!!!
There are approximately 20 trade days in each month. If your risk 2% of your account on each trade, given a minimum risk/reward ratio of 1:1.5 on each trade, then each correct trade would yield you 3% or more return on your investment.

10 correct trades per month would, assuming a constant lot size, give you 30% per month. So your target is not unreasonable, given a sound trading strategy.
  • #90,397
  • Jun 7, 2008 1:25pm Jun 7, 2008 1:25pm
Quoting mike w
If you really believe that's the case, then why not wait for a good price and then hold for a long time to collect interest on top of your position.
Edited my post to 195-210 and yes that's good idea, and I would be a buyer at 195. Also if it 'does' go up and breaks 250, then say hello to 300. If it breaks 195, then say hello to 170 or so. But I'm still range bias and more likely up.
  • #90,398
  • Jun 7, 2008 1:28pm Jun 7, 2008 1:28pm
Quoting Clouds
Edited my post to 195-210 and yes that's good idea, and I would be a buyer at 195.
Excellent! I will honestly be surprised if it doesn't break that once momentum in the downmove picks up, but if it wouldn't that would be a solid area depending on your amount of money your willing to risk. Remember though, in two days we fell from 203 to 192. Just make sure that you don't try to catch a falling knife if you see that momentum building.
I dream, therefore I become.
  • #90,399
  • Edited 1:32pm Jun 7, 2008 1:29pm | Edited 1:32pm
Quoting GodfreyH
There are approximately 20 trade days in each month. If your risk 2% of your account on each trade, given a minimum risk/reward ratio of 1:1.5 on each trade, then each correct trade would yield you 3% or more return on your investment.

10 correct trades per month would, assuming a constant lot size, give you 30% per month. So your target is not unreasonable, given a sound trading strategy.
thank you very much godfreyh,

i like honest and upfront suggestions/recommendations.. just like that

i can even accept criticisms, constructive or destructive..

kidding aside, thanks again good luck on your trading..


maybe i should have your honest comments regarding my system??? (i don't know if i can really call it a SYSTEM )

here's the thread:

http://www.forexfactory.com/showthread.php?t=90429

please read it, it's only 2 pages..

thanks
I'm not an expert but I can read charts.
  • #90,400
  • Jun 7, 2008 1:35pm Jun 7, 2008 1:35pm
Quoting mike w
Excellent! I will honestly be surprised if it doesn't break that once momentum in the downmove picks up, but if it wouldn't that would be a solid area depending on your amount of money your willing to risk. Remember though, in two days we fell from 203 to 192. Just make sure that you don't try to catch a falling knife if you see that momentum building.
I would be a wary buyer, with clear sign of consolidation and bullish signs, off to see a movie, have a good weekend!
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