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

  • #94,561
  • Jun 17, 2008 6:12am Jun 17, 2008 6:12am
...and FTSE is rallying
  • #94,562
  • Jun 17, 2008 6:13am Jun 17, 2008 6:13am
Quoting OrionsWay
maybe this Q Vix
  • #94,563
  • Jun 17, 2008 6:17am Jun 17, 2008 6:17am
at least GBP/CAD has been nice to me.. 185 pips so far
  • #94,564
  • Jun 17, 2008 6:22am Jun 17, 2008 6:22am
  • #94,565
  • Jun 17, 2008 6:23am Jun 17, 2008 6:23am
i have deleted my post by mistake.
again... 210.6x, 211.5x, 209.6x and then 213.70/214.10. in this order.
sorry Q... my mistake.
Nihil Sine Deo.
  • #94,566
  • Jun 17, 2008 6:28am Jun 17, 2008 6:28am
the first retracement is getting ready as i post. we already have a lower low, but the oscillators on smaller tfs are not following the price... bullish divergence. long on confirmation (which i'm still waiting for!!!), TP @ 211.50 but will be carefully securing pips as we go up.

Quoting Scrat
i have deleted my post by mistake.
again... 210.6x, 211.5x, 209.6x and then 213.70/214.10. in this order.
sorry Q... my mistake.
Nihil Sine Deo.
  • #94,567
  • Jun 17, 2008 6:29am Jun 17, 2008 6:29am
i sold cable again at 205 with a b/e stop loss.
  • #94,568
  • Jun 17, 2008 6:34am Jun 17, 2008 6:34am
Quoting Srikanth
lilmoe,

did you got stopped by that GU up move ? i think it was just a manipulation to eat SL
I think it was nothing of the sort. The announcement was for slightly higher than expected, hence the immediate knee jerk reaction was for higher rates in the UK. A couple of minutes thought and it is realised (as is evident from the Governor of the BOE's letter to the Chancellor of the Exchequer) that actually rates will not rise regardless of the inflation rate...as it is deemed that it will settle back over a period of 2 years, which is within the guidelines of what the MPC is meant to do. One sees these overreactions to news all the time, before the trend settles in the opposite direction. I put it down to human stupidity and exuberance rather than manipulation.
  • #94,569
  • Jun 17, 2008 6:41am Jun 17, 2008 6:41am
Quoting Scrat
the first retracement is getting ready as i post. we already have a lower low, but the oscillators on smaller tfs are not following the price... bullish divergence. long on confirmation (which i'm still waiting for!!!), TP @ 211.50 but will be carefully securing pips as we go up.

we might not see a retracement bro, i would say the price will stall here and there, but i don't think it will retrace.
  • #94,570
  • Jun 17, 2008 6:43am Jun 17, 2008 6:43am
Quoting lilmoe
we might not see a retracement bro, i would say the price will stall here and there, but i don't think it will retrace.

i canceled my sell limits and am waiting on a market entry. if m30 gann crosses up then back down i'll go short... screw this.
  • #94,571
  • Jun 17, 2008 6:43am Jun 17, 2008 6:43am
Hi everyone,

Is G/y going down more further? What you think lilmoe?
  • #94,572
  • Jun 17, 2008 6:43am Jun 17, 2008 6:43am
Quoting Spectator
I think it was nothing of the sort. The announcement was for slightly higher than expected, hence the immediate knee jerk reaction was for higher rates in the UK. A couple of minutes thought and it is realised (as is evident from the Governor of the BOE's letter to the Chancellor of the Exchequer) that actually rates will not rise regardless of the inflation rate...as it is deemed that it will settle back over a period of 2 years, which is within the guidelines of what the MPC is meant to do. One sees these overreactions to news all the time, before the trend settles in the opposite direction. I put it down to human stupidity and exuberance rather than manipulation.
It was that letter that caused movement.

edit: I was holding 2 longs just before the news and letter. I took profits on one long immediately, figuring whiplash might occur. I closed the second when the letter came out and bearish sentiment emerged.
  • #94,573
  • Jun 17, 2008 6:44am Jun 17, 2008 6:44am
Quoting forex888
Hi everyone,

Is G/y going down more further? What you think lilmoe?

at the moment, i don't think anyone knows. but i'm guess it will. i'm not short, but i would really love to see a retracement so i can enter.
  • #94,574
  • Jun 17, 2008 6:46am Jun 17, 2008 6:46am
Quoting ovaforty
It was that letter that caused movement.

edit: I was holding 2 longs just before the news and letter. I took profits on one long immediately, figuring whiplash might occur. I closed the second when the letter came out and bearish sentiment emerged.
The letter came out after the movement, did it not? I didn't see it until 1 hour after the movement.
  • #94,575
  • Jun 17, 2008 6:47am Jun 17, 2008 6:47am
Quoting Scrat
the first retracement is getting ready as i post. we already have a lower low, but the oscillators on smaller tfs are not following the price... bullish divergence. long on confirmation (which i'm still waiting for!!!), TP @ 211.50 but will be carefully securing pips as we go up.
Very, very true, but if you take a look at the Dx the pound is really getting sold across the board on the crosses and not against the dollar, that means, since I see no risk aversion as of yet that the pound needs to find a bottom first before an upswing can materialize, taking into consideration that the markets were expecting a rise in the interst rates and the recent dovish statements by King had taken the wind out of those expectations it would be safe to assume that the current move on the pound is a readjustment of risk versus expectations and as such "could" cause the breakdown of the pound to lower levels, "could">
  • #94,576
  • Jun 17, 2008 6:48am Jun 17, 2008 6:48am
yes, that's also possible. i posted a 40min chart with oscillators being OS; i was waiting for either a retracement or a zigzag, just enough to take the oscillators out of extreme OS condition... which would signal the continuation of the move to the downside...
all i can tell now is that this drop is not over yet. and when it's over, we will either see a retracement or another rally attempting to break last high.

p.s. @gene: i was writing while you posted, but i think we're on the same page. more to the downside.

Quoting lilmoe
we might not see a retracement bro, i would say the price will stall here and there, but i don't think it will retrace.
Nihil Sine Deo.
  • #94,577
  • Jun 17, 2008 6:50am Jun 17, 2008 6:50am
if today closes below 210.70 then the target WILL be 206.20. 50% fib. at least.
  • #94,578
  • Jun 17, 2008 6:51am Jun 17, 2008 6:51am
Quoting lilmoe
at the moment, i don't think anyone knows. but i'm guess it will. i'm not short, but i would really love to see a retracement so i can enter.
Thanks lilmoe..I am very afraid and scare now.. I had 2 open long at peak..
  • #94,579
  • Jun 17, 2008 6:51am Jun 17, 2008 6:51am
Building wealth takes time and patience. Chasing the market won't do it. By the time you see a move on the charts it is usually too late to catch it.

Geppy is approaching the daily 5 sma low. If it holds then it is a good price area to own geppy, if she continues the uptrend that she has been experiencing for nearly 3 months.
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  • #94,580
  • Jun 17, 2008 6:52am Jun 17, 2008 6:52am
Quoting good
Even if we have seen the top on GJ, price must go back up to 212 area to make a lower high before falling.
why?
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