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

  • #95,061
  • Jun 18, 2008 7:51am Jun 18, 2008 7:51am
Quoting mktjong
I see it differently Q.
Current Dow, Bond, Gold are supporting the move to the down side. Dow is approaching 12,000 .. unbelievable ..

Yep, but I wouldn't be surprise to see a short squeeze to the upide before the move down to 209.40 1st target. . . I'm thinking 211.65/70 if not slightly higher, then down. . .
  • #95,062
  • Jun 18, 2008 7:51am Jun 18, 2008 7:51am
GM bro! how is it going. My shorts TP'd nicely from yesterday though playing it very small right now. Did't get a chance to load long at the bounce from 0% Fib from the fall of 212.79 may load shorts if the 4hr candle cannot cross Gann. 1hr looks flat right now. Hope you are doing well
  • #95,063
  • Jun 18, 2008 7:51am Jun 18, 2008 7:51am
afternoon pip makers: March lows on the Dow approaching
  • #95,064
  • Jun 18, 2008 7:55am Jun 18, 2008 7:55am
Quoting vinesh2
GM bro! how is it going. My shorts TP'd nicely from yesterday though playing it very small right now. Did't get a chance to load long at the bounce from 0% Fib from the fall of 212.79 may load shorts if the 4hr candle cannot cross Gann. 1hr looks flat right now. Hope you are doing well


I would'nt enter short until 212.30 area is touched and its a failure up there -
Check out your 4hr chart and tell me what u see. . .

Lets see how it all plays out. . .
  • #95,065
  • Jun 18, 2008 7:59am Jun 18, 2008 7:59am
Quoting mktjong
But very strange .. Yen pairs are having its own agenda again. The pair should tank hundreds of pips by now ..
Japan is hurting from higher fuel and food cost as well also lower demand of their products from their biggest buyer the USA.
  • #95,066
  • Jun 18, 2008 8:02am Jun 18, 2008 8:02am
i fixed sell limit for UJ
  • #95,067
  • Jun 18, 2008 8:04am Jun 18, 2008 8:04am
Quoting Evilgoat
Japan is hurting from higher fuel and food cost as well also lower demand of their products from their biggest buyer the USA.
Yep .. this sounds like a good argument
On the other hand, investors borrowed Yen to buy equities in the past would need to pay it back with Yen as well, right? But why is not reflecting it .. where is the money go? .. Swiss Franc?
  • #95,068
  • Jun 18, 2008 8:08am Jun 18, 2008 8:08am
Ok I see ZLS approcahing 50 line thus indicating some upside coming. Price having some resistence at 38.2 FIB level. I see some resistence at GANN but price may extend on to 78.6 fib level which 212.32 area also a Demark trend line? Did I get it all?
  • #95,069
  • Jun 18, 2008 8:10am Jun 18, 2008 8:10am
Quoting vinesh2
Ok I see ZLS approcahing 50 line thus indicating some upside coming. Price having some resistence at 38.2 FIB level. I see some resistence at GANN but price may extend on to 78.6 fib level which 212.32 area also a Demark trend line? Did I get it all?


I see a short squeeze higher coming to shake out weak shorts. . .

shake, skake, shake
shake, shake, shake
shake'em the weak shorts. . .

Knock, knock, knock - can I have them shorts. . .
Knock, knock, knock - gimme them weak shorts. . .

Just kidding all - hope everyone is trading cautiously. . . These market conditions can be tough to gage/trade in. . .
  • #95,070
  • Jun 18, 2008 8:11am Jun 18, 2008 8:11am
Here is another point of view :

We all know that interest rates will not go down anytime soon and will probably go up for that matter. The stock market is not good for investing so what do people with a LOAD of CASH do? Thats right, the carry trade is back. Swap interest is the name of the game in the near future.
  • #95,071
  • Jun 18, 2008 8:15am Jun 18, 2008 8:15am
I closed my long position on GU for a small 80 pips profit. GU has been good to me these few days.

From now on when I see GJ is ranging I'll trade GU and UJ instead of it. This kind of market is just playing with my nerves. It's boring ...

... but I'll be watching Price Action of the beast closely to jump in if she wants to start huge moves like before ...
Discipline + Patience - Fear - Greed = Success
  • #95,072
  • Jun 18, 2008 8:17am Jun 18, 2008 8:17am
Quoting mktjong
Yep .. this sounds like a good argument
On the other hand, investors borrowed Yen to buy equities in the past would need to pay it back with Yen as well, right? But why is not reflecting it .. where is the money go? .. Swiss Franc?

well I was trying to find a link for you but can't seem to find it basicly it said that alot of jananese were buying other currencies even tho they lost some big money the last few years they have been just buying more. the yen selling on their part could take away some of the yen buying by investor.
  • #95,073
  • Jun 18, 2008 8:17am Jun 18, 2008 8:17am
Quoting ultimate
Here is another point of view :

We all know that interest rates will not go down anytime soon and will probably go up for that matter. The stock market is not good for investing so what do people with a LOAD of CASH do? Thats right, the carry trade is back. Swap interest is the name of the game in the near future.
Good point
How about if the fundamentals can't support its currency value, it will go down much faster than the accumulated interests. Carry trade is still a very risky business as of now.
  • #95,074
  • Jun 18, 2008 8:23am Jun 18, 2008 8:23am
Quoting quecee5


I see a short squeeze higher coming to shake out weak shorts. . .

shake, skake, shake
shake, shake, shake
shake'em the weak shorts. . .

Knock, knock, knock - can I have them shorts. . .
Knock, knock, knock - gimme them weak shorts. . .

Just kidding all - hope everyone is trading cautiously. . . These market conditions can be tough to gage/trade in. . .
Everytime I here this I remember shakesfx...where the hell is he...

I hope he is ok...

I have been trading gu short last night long this morning... I think it is better to trade these days than gj.....
Patience + Discipline - Greed = Success
  • #95,075
  • Jun 18, 2008 8:23am Jun 18, 2008 8:23am
Quoting ultimate
Here is another point of view :

We all know that interest rates will not go down anytime soon and will probably go up for that matter.
Do we know that they will probably go up? I see mixed messages coming out of the FED and out of the UK.
  • #95,076
  • Jun 18, 2008 8:25am Jun 18, 2008 8:25am
Quoting vinesh2
Ok I see ZLS approcahing 50 line thus indicating some upside coming. Price having some resistence at 38.2 FIB level. I see some resistence at GANN but price may extend on to 78.6 fib level which 212.32 area also a Demark trend line? Did I get it all?
nice analysis bro.
  • #95,077
  • Jun 18, 2008 8:27am Jun 18, 2008 8:27am
USDJPY - Which economy do you think is going to get better going forward? Investors are betting on the USD vs the JPY and USD JPY goes up. Add the fact that interest rates in the US will go UP from here on and the JPY rates will probably stay the same and you have USDJPY going up.

30 day Federal Funds Futures :
http://www.pfxglobal.com/intermarket...s-futures.html

In addition the VIX is tame compared to last year :
http://www.pfxglobal.com/intermarket...index-vix.html

Fundamentally USDJPY will continue going up for now ... there will be a correction here and there of course.
  • #95,078
  • Jun 18, 2008 8:33am Jun 18, 2008 8:33am
Quoting Jerry
i fixed sell limit for UJ
where do u have ur sell limit, by the way , y dont u post in d uj thread?
  • #95,079
  • Jun 18, 2008 8:35am Jun 18, 2008 8:35am
If GY can break 211.60 today, it will go up to 214S in the coming sessions.
It has proved to be bottomed out @ 209.60 on Hrly chart and retraced to 0.618 Hrly Fib.
Any comment?
  • #95,080
  • Jun 18, 2008 8:35am Jun 18, 2008 8:35am
Quoting arezab
I closed my long position on GU for a small 80 pips profit. GU has been good to me these few days.

From now on when I see GJ is ranging I'll trade GU and UJ instead of it. This kind of market is just playing with my nerves. It's boring ...

... but I'll be watching Price Action of the beast closely to jump in if she wants to start huge moves like before ...
u took a small short at DP, i think it should go down a bit now 40 pips or so. if not, and price closes well above DP i might think of a long position again.
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