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

  • #98,241
  • Jul 1, 2008 10:30am Jul 1, 2008 10:30am
Quoting lilmoe
i'm thinking 213.11 then 214.12
216 - 216.80 ultimately
Don't get over your head too much bro .. 216 ..
I think if we can get to 213-214 .. would be a blessing, then it would be a good short ..
  • #98,242
  • Jul 1, 2008 10:31am Jul 1, 2008 10:31am
US trading combined will ALL UK trading is about 50% of volumne.
Sure volumne will be down some when NY is closed, but there will be plenty of big boys playing on Friday, some of them ONLY trade on Fridays.

Quoting Austin168
Don't forget that due to light volume on holiday, check history on price movement during major holiday (light volume)
  • #98,243
  • Jul 1, 2008 10:31am Jul 1, 2008 10:31am
Quoting lilmoe
wait for confirmation
if this candle closes as a doji, i'll wait for price to close above 1h 50ema.

doji. i'll wait for a close above 1h 50ema (30m 100ema)
  • #98,244
  • Jul 1, 2008 10:33am Jul 1, 2008 10:33am
Quoting mktjong
Don't get over your head too much bro .. 216 ..
I think if we can get to 213-214 .. would be a blessing, then it would be a good short ..

hehehe, when i said 213.90 last week u said the same
  • #98,245
  • Jul 1, 2008 10:34am Jul 1, 2008 10:34am
Quoting lilmoe
doji. i'll wait for a close above 1h 50ema (30m 100ema)
Thanks bro.
  • #98,246
  • Jul 1, 2008 10:34am Jul 1, 2008 10:34am
Quoting lilmoe
hehehe, when i said 213.90 last week u said the same
  • #98,247
  • Jul 1, 2008 10:43am Jul 1, 2008 10:43am
Not a good day to trade today market all over the place but why do I get the feeling that the equity market has bottemed out. If we close in GREEN today then I think we have bottmed
  • #98,248
  • Jul 1, 2008 10:48am Jul 1, 2008 10:48am
anyone think short ?
  • #98,249
  • Jul 1, 2008 10:51am Jul 1, 2008 10:51am
Quoting pkimnyc
Thanks bro.
  • #98,250
  • Jul 1, 2008 10:52am Jul 1, 2008 10:52am
Quoting vinesh2
Not a good day to trade today market all over the place but why do I get the feeling that the equity market has bottemed out. If we close in GREEN today then I think we have bottmed

I thought this was a GBPJPY thread - what have equities got to do with it?

Doesn't look like it's bottomed out yet on this chart of Dow futures. There may be a pre-holiday rally for a couple of days but difficult to see how you came up with 'bottomed out'. Why don't you post a chart and make a bit more sense.
Attached Image (click to enlarge)
Click to Enlarge Name: djifutures.gif Size: 27 KB
  • #98,251
  • Jul 1, 2008 10:54am Jul 1, 2008 10:54am
Quoting lilmoe
hehehe, when i said 213.90 last week u said the same
Well, I just can't see the carry trades would flourish to the extreme. There is not enough fundamentals to support it yet.
I hope you're right this time 'coz I am long UJ
and don't have any position on GJ so far this week.
  • #98,252
  • Jul 1, 2008 10:54am Jul 1, 2008 10:54am
Quoting birdt
I thought this was a GBPJPY thread - what have equities got to do with it?

Doesn't look like it's bottomed out yet on this chart of Dow futures. There may be a pre-holiday rally for a couple of days but difficult to see how you came up with 'bottomed out'. Why don't you post a chart and make a bit more sense.
Cranky?lol
  • #98,253
  • Jul 1, 2008 10:58am Jul 1, 2008 10:58am
Calm down buddy take a deep breadth. Yes agree its GBP JPY thread but other pairs have been discussed here previously since GJ has or had correlation with equity market that's I am making my "prediction" I can't post chart because of technical reasons but what I have noticed is when equity market opens up RED big time and then closes in GREEN that's a sign of bottoming and I don't think traders are going to let equity market go into bear territory which a close below 11,000 IMO.
  • #98,254
  • Jul 1, 2008 11:00am Jul 1, 2008 11:00am
Quoting pr0spero
mYKE sorry, I just saw your message now as I was browsing past posts to see my cookies post ;-)

You probably figured out why it was a swing long trade, just by looking at the charts, but here goes. I had three entries: 1. which got stopped out quickly, then 2. and 3. Position 2. closed about at the prior swing highs, and 3. I closed it on the last "spike" high

Posting the chart here even though it's not G/Y related, just as an example of a swing trade that had a good R/R..though don't know if swing trading is your thing (or the thing of many here..looks like scalping is more popular)

There are good books out if you wanna read out on swing trading

cheers
Thanks for the chart, the 2 and 3 trades look great... that was a nice swing up today.

  • #98,255
  • Jul 1, 2008 11:01am Jul 1, 2008 11:01am
this is my view on the current situation. the regular bearish divergences on histo macd, cci and even rsi are waiting to play out (or already started).
i am looking for a confirmation, which should be one (or both) of the following:
- breakout on rsi trendline + cci closed below 0 (this is confirmed already), OR
- breakout of the classical trendline (or a daily close below gann hilo): not yet.
under normal circumstances, i would have taken the short by now, but this is a little bit tricky and until i see a daily close below gann hilo / classical trendline i won't jump big time into it.
however, my bias is bearish at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: gjd.gif Size: 26 KB
Nihil Sine Deo.
  • #98,256
  • Jul 1, 2008 11:02am Jul 1, 2008 11:02am
Good for longs would be a close above the circled area on my chart.
Which is also the descending t/l resistance.
4HR Gann and 4HR 50EMA.
If you can get a close above all that resistance.
Then up she goes.

Above the daily pivot would be a good start.

Before you see your 213-217 area or these other fantasy numbers I would look to at least close above 212.00 first.

See chart.

Good Luck
Attached Image
  • #98,257
  • Jul 1, 2008 11:03am Jul 1, 2008 11:03am
Quoting PipChick
Cranky?lol
Just brooding. Everyone's an expert round here. Of course we're all entitled to an opinion but if you post cowboy analysis without any evidence to back it up then expect to get challenged to a duel at high noon.
  • #98,258
  • Jul 1, 2008 11:04am Jul 1, 2008 11:04am
i went long at 210.80 targeting 211.80 to 212 and i will move stop lose to 1+ pip once we reach 211.11
  • #98,259
  • Jul 1, 2008 11:06am Jul 1, 2008 11:06am
Quoting vinesh2
Calm down buddy take a deep breadth. Yes agree its GBP JPY thread but other pairs have been discussed here previously since GJ has or had correlation with equity market that's I am making my "prediction" I can't post chart because of technical reasons but what I have noticed is when equity market opens up RED big time and then closes in GREEN that's a sign of bottoming and I don't think traders are going to let equity market go into bear territory which a close below 11,000 IMO.

Ahh, the DOW has already reached the threshold for an official bear market, which is -20%. Most, if not all, traders are not going to dangle their funds over the abyss when so so so many signals are negative.
"Timing Is Everything. Really I Swear It Is"
  • #98,260
  • Jul 1, 2008 11:07am Jul 1, 2008 11:07am
it just continues .....evening pippy makers
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