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

  • #92,881
  • Jun 12, 2008 10:08am Jun 12, 2008 10:08am
Quoting VEC
my theory is that once you have both dow/s&p and carrycrosses at heavy resistance, then turning down, the correlation will continue. they are sort of "out of synch"

what do you think about that?

by the way, dow and S&P looks like they are gonna sell of anytime now
They have been out of sync for days ..I think they'd miss each others a lot and back to sync .. hehee
  • #92,882
  • Jun 12, 2008 10:10am Jun 12, 2008 10:10am
I just gave 4 set ups. Do yourself a favor: Open a demo and try them. See if they aren't good for a quick 400 pips or so.
  • #92,883
  • Jun 12, 2008 10:11am Jun 12, 2008 10:11am
Quoting ovaforty
1st rule of my strategy:

Buy it cheap and sell it high. Stay out of the middle.
Great rule
  • #92,884
  • Jun 12, 2008 10:17am Jun 12, 2008 10:17am
Quoting ovaforty
1st rule of my strategy:

Buy it cheap and sell it high. Stay out of the middle.

good rule, but it's a shame you can't apply your own system.

buying cheap and selling high..... each time i see that phrase in a book about stocks or currencies i simply close it and throw it away.

tell me big guy. what does the price 210 mean for u? is it cheap or high?
  • #92,885
  • Jun 12, 2008 10:17am Jun 12, 2008 10:17am
Quoting iksh
Options expiry for tomorrow1000 EDT

EURUSD 1.54 and 1.57

USDYEN 105

AUDUSD .9450 and .9400 for tokyo expiry

USDCAD 1.018
Sorry, I don't understand options. What does that mean are the possibilities for traders?
  • #92,886
  • Jun 12, 2008 10:18am Jun 12, 2008 10:18am
Quoting iksh
Options expiry for tomorrow1000 EDT

EURUSD 1.54 and 1.57

USDYEN 105

AUDUSD .9450 and .9400 for tokyo expiry

USDCAD 1.018

what makes you think that?
  • #92,887
  • Jun 12, 2008 10:21am Jun 12, 2008 10:21am
middle


Quoting lilmoe
good rule, but it's a shame you can't apply your own system.

buying cheap and selling high..... each time i see that phrase in a book about stocks or currencies i simply close it and throw it away.

tell me big guy. what does the price 210 mean for u? is it cheap or high?
There is no bad decisions, its only didn't work out.
  • #92,888
  • Jun 12, 2008 10:22am Jun 12, 2008 10:22am
Quoting lilmoe
good rule, but it's a shame you can't apply your own system.

buying cheap and selling high..... each time i see that phrase in a book about stocks or currencies i simply close it and throw it away.

tell me big guy. what does the price 210 mean for u? is it cheap or high?
it is the middle. i am standing aside until 209ish or 213 ish.
  • #92,889
  • Jun 12, 2008 10:22am Jun 12, 2008 10:22am
Quoting puteraku73
middle

haha, very diplomatic! very good!

you shloud be the new head of treasury
  • #92,890
  • Jun 12, 2008 10:26am Jun 12, 2008 10:26am
Quoting Clouds
In 3-4 more rallies we'll see 109. Sorry.
Price was 106.40ish at the time

Quoting ak4x
agreed, maybe even quicker than that, and i'm a permabear havin to shed my winter coat it seems.

"The market can stay irrational longer than I can stay solvent." I now have that quote on a sticky stuck on the middle of my screen.
And now 2 and 1/2 days later, here we are at 108. Clouds, you da man.

Here's an 8hr UJ chart to peruse. The only question now I think, is the usual end of week action... will it break higher yet or retrace before friday close, or wait till next week?

For sure we're at strong resistance with no retracement yet in a market where all our heads are doing the 360 swivel thing. I'm thinking retracement first, and hoping someone will just knock me in the head with a hammer to fix that "thinking" problem I have...

Gotta leave for the weekend, so won't be back unless I find internet access. Careful trades all...
Attached Image
FUBAR...
  • #92,891
  • Jun 12, 2008 10:27am Jun 12, 2008 10:27am
GBP/YEN

Daily Pivots: (S1) 209.39; (P) 210.01; (R1) 210.60; More
No change in GBP/JPY's outlook as the cross continues to engage in sideway trading in tight range. Further rally is still mildly in favor towards 38.2% retracement of 241.35 to 192.60 at 211.22 first. Break will target 213.48 medium term resistance. On the downside, below 208.49 minor support will indicate an intraday top is in place and bring consolidation. But further rally is still in favor as long as GBP/JPY stays in side the inner rising channel (support at 205.41).
In the bigger picture, a medium term bottom is in place at 192.60. Though, subsequent price actions are still treated as correction in the whole down trend from 251.09 only. Such correction is still in progress to mentioned 211.22 fibo resistance or higher but resistance should start to build up as the cross approaches 213.48 resistance where such correction should complete. Though, on the downside, break of 199.78 support will indicate that such corrective rise has completed. In such case, focus will be back to 192.60 low.
  • #92,892
  • Jun 12, 2008 10:30am Jun 12, 2008 10:30am
my Geppy chart.
Attached Image (click to enlarge)
Click to Enlarge Name: geppy.gif Size: 20 KB
  • #92,893
  • Jun 12, 2008 10:32am Jun 12, 2008 10:32am
Quoting ak4x
Price was 106.40ish at the time



And now 2 and 1/2 days later, here we are at 108. Clouds, you da man.

Here's an 8hr UJ chart to peruse. The only question now I think, is the usual end of week action... will it break higher yet or retrace before friday close, or wait till next week?

For sure we're at strong resistance with no retracement yet in a market where all our heads are doing the 360 swivel thing. I'm thinking retracement first, and hoping someone will just knock me in the head with a hammer to fix that "thinking" problem I have...

Gotta leave for the weekend, so won't be back unless I find internet access. Careful trades all...
I was thinking UJ would do the usual up /down motion to get there, but now I have no idea what's next for it. Its lost correlation with buying/selling of dollars in other pairs, so for now, I am focusing on long EU with low risk stop. Thanks for compliment.. UJ could fall to 105 , but I have watch it.
Attached Image
  • #92,894
  • Edited 10:58am Jun 12, 2008 10:41am | Edited 10:58am
Quoting Clouds
UJ could fall to 105 , but I have watch it.
That's the light shaded area at right edge. Should have marked it "possible retrace area", but actually didn't want to commit to that yet as I think it's too soon to say.

That one 8 hr candle that DID retrace may be all we see for awhile, but it was a single candle as opposed to several candles making up the genuine retraces previously. So bottom line is if it does bull thru to 109-110 before major retrace, that technically shifts everything higher, as those levels aren't in yet.

Kind of glad I have to leave later. Methinks this is a dangerous time...
FUBAR...
  • #92,895
  • Jun 12, 2008 10:47am Jun 12, 2008 10:47am
Quoting mktjong
I am in again @1.5405 ..
Seems like EU trades making me more pips than my Yen pairs ..hahaaa
I went for lunch but I got in again at 5398 just before....

Apart from my earlier eu loss, I have been getting much better returns on gu and eu this week than gj.... even though the pip count is greater on gj...
Patience + Discipline - Greed = Success
  • #92,896
  • Jun 12, 2008 10:50am Jun 12, 2008 10:50am
211 on geppy is strong resistance. It takes multiple attempts to break strong support/resistance. It will be broken eventually. Each attempt upward is absorbing the sell orders of those bears who are defending their positions. Sooner or later one side will give up. We, as traders dont care which side wins this battle. We just exploit it.
  • #92,897
  • Jun 12, 2008 10:52am Jun 12, 2008 10:52am
Quoting Tiger Hunter
my Geppy chart.

looks good, but that short gold trade, are you gonna keep it?
  • #92,898
  • Jun 12, 2008 11:02am Jun 12, 2008 11:02am
another look at UJ
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 33.png Size: 18 KB
  • #92,899
  • Jun 12, 2008 11:07am Jun 12, 2008 11:07am
Quoting Infinity
Apart from my earlier eu loss...
Hey bro, was thinkin of you last night... . On to the next one tho, right? Pip Pip and Away!!... all that kind of thing.
FUBAR...
  • #92,900
  • Jun 12, 2008 11:10am Jun 12, 2008 11:10am
evening pip makers

...dead-cat

http://www.depression2.tv/images/s-deadcat.gif
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