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

  • #101,881
  • Jul 17, 2008 5:34pm Jul 17, 2008 5:34pm
Im thinking we must go test 214 the previous high
  • #101,882
  • Jul 17, 2008 5:36pm Jul 17, 2008 5:36pm
Quoting mktjong
Now, am looking to 209.xx area .. LOL ( what a nice 400-500 pips range weekly)

Good luck with that lb futures selling yen futures mixed, geppy will drift with yen for a slow short sell liquidation of yesterdays buy day

The inevitable liquidation is coming no doubt but for me not worth holding a draw and pay to have it when times not quite up yet i dont think, nor has price balanced from last swing yet either, plus yesterday was some pretty good buying, now has a bit of momentum behind it

but who knows anything possible with the wretched one
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"Millionaires don't use astrology, billionaires do"
  • #101,883
  • Jul 17, 2008 5:55pm Jul 17, 2008 5:55pm
My weekly chart shows some pretty good resistance that needs to be overcome before it goes much further north...
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  • #101,884
  • Jul 17, 2008 6:00pm Jul 17, 2008 6:00pm
I hope everybody notized, the cause of this jump:

A Hammer !

Next time i see a hammer on the daily, near a resistance-zone,
i know, what to do...

good nite ladys and gents.
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  • #101,885
  • Jul 17, 2008 6:01pm Jul 17, 2008 6:01pm
Post market.

Microsoft down ... google down .. merryl lynch down .... capitol one down 40% profit ....

thought the rally was due to banking sector....
Blogging daily now at www.volume.zone
  • #101,886
  • Jul 17, 2008 6:05pm Jul 17, 2008 6:05pm
Quoting malcolmb14
Post market.

Microsoft down ... google down .. merryl lynch down .... capitol one down 40% profit ....

thought the rally was due to banking sector....
No, it was due to the fact that GJ has not moved in 7 weeks, and when it did, 'it had a lot of fans' Mainly because of FF members bought it
  • #101,887
  • Jul 17, 2008 6:07pm Jul 17, 2008 6:07pm
Inserted Video


interesting watch for whoever's bored.
  • #101,888
  • Jul 17, 2008 6:10pm Jul 17, 2008 6:10pm
Watch for DOW to give up all the gains it made in 2 days. A complete opposite of today. They have sucked in enough buyers and now they are going to tank this thing in the coming days.economy cannot reverse in 2 days. Just 2 days ago ppl in wall st were talking about armegadon now suddenly econony has turned the corner classic manupulation imo
  • #101,889
  • Jul 17, 2008 6:17pm Jul 17, 2008 6:17pm
Quoting vinesh2
Watch for DOW to give up all the gains it made in 2 days. A complete opposite of today. They have sucked in enough buyers and now they are going to tank this thing in the coming days.economy cannot reverse in 2 days. Just 2 days ago ppl in wall st were talking about armegadon now suddenly econony has turned the corner classic manupulation imo

This is called a bear rally .... they are fast and furious .,.. those that know how to play these can get short entries right on the sweet spot . For me the sweet spot on the YM is 12000 . I think they will push this up to this level. In the mean time I will just keep on playing those open rnage breakouts on the futures . They have been awesome the last 2 days.

Here is the open range set up for gj today ... 211.85 was the open range high of the 1st 30 min of us open ... breakout of here gave us a nice 65 pips ride

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  • #101,890
  • Jul 17, 2008 6:20pm Jul 17, 2008 6:20pm
Also of note...

Pound Falls on Report Treasury Working to Reform Fiscal Rules.

http://bloomberg.com/apps/news?pid=2...aIw&refer=home

Combine that with the suckers rally it should be a fun freaky friday!
  • #101,891
  • Jul 17, 2008 6:22pm Jul 17, 2008 6:22pm
Watch for this thing to close exactly at DP just to confuse the hell out of everyone.my daily closes in 40mins
  • #101,892
  • Jul 17, 2008 6:28pm Jul 17, 2008 6:28pm
Quoting vinesh2
Watch for DOW to give up all the gains it made in 2 days. A complete opposite of today. They have sucked in enough buyers and now they are going to tank this thing in the coming days.economy cannot reverse in 2 days. Just 2 days ago ppl in wall st were talking about armegadon now suddenly econony has turned the corner classic manupulation imo
I get so confused when people come in here and talk about stocks in relation to Geppy. What does the US stock market have to do with currency trading? So the carry trades will tank? So GBP/AUD short is a carry, so that will go up? Gold, stocks, oh my, the US economy, oh my. The US is not a third world country, and the US has a recession every 10 years, so what. If you are from the US, stop complaining about the economy. The currency is a down trend, now how does that affect the pound and the yen. So GU will go sky high, because of the stock market? Maybe trade the stock market? Maybe I don't know what I'm talking about, but /USD and /JPY pairs are both carry trades, and so what. Buy dips and sell the rallies. I wish one day this thread would be just about currencies. Tomorrow, the /USD pairs should go down, and the /JPY pairs should continue to rally. The /USD pairs are still too expensive to buy.
  • #101,893
  • Jul 17, 2008 6:34pm Jul 17, 2008 6:34pm
Quoting Clouds
I get so confused when people come in here and talk about stocks in relation to Geppy. What does the US stock market have to do with currency trading? So the carry trades will tank? So GBP/AUD short is a carry, so that will go up? Gold, stocks, oh my, the US economy, oh my. The US is not a third world country, and the US has a recession every 10 years, so what. If you are from the US, stop complaining about the economy. The currency is a down trend, now how does that affect the pound and the yen. So GU will go sky high, because of the stock market? Maybe trade the stock market? Maybe I don't know what I'm talking about, but /USD and /JPY pairs are both carry trades, and so what. Buy dips and sell the rallies. I wish one day this thread would be just about currencies. Tomorrow, the /USD pairs will go down, and the /JPY pairs will continue to rally. The /USD pairs are still too expensive to buy.

Clouds what do u think moves economies, transfering from one asset to another, how can u do that without currency from one country to another. If you think these things arent related u should shoot yourself in the head.
"Millionaires don't use astrology, billionaires do"
  • #101,894
  • Jul 17, 2008 6:36pm Jul 17, 2008 6:36pm
Quoting OrionsWay
Clouds what do u think moves economies, transfering from one asset to another, how can u do that without currency from one country to another. If you think these things arent related u should shoot yourself in the head.
Tell me how you think you get your currency rates.
  • #101,895
  • Jul 17, 2008 6:40pm Jul 17, 2008 6:40pm
alright guys i still hold my EJ short

and its 60 pips minus right now

i tried to make some analysis for some of JPY pairs and i got these

1- EJ closing inside the rising wedge which is bullish but in the same time it got refused from the gann line and closed below it so i am still bearish and i will wait for it to go down

2- UJ got refused from gann line also and closed below it, not only that ! UJ right now tested back the broken up trend and it couldn't close inside it so this is very bearish sign and it could make UJ go down also.

so i am expecting GJ to go down but who knows if the market will follow my analysis
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  • #101,896
  • Jul 17, 2008 6:43pm Jul 17, 2008 6:43pm
Quoting Clouds
I get so confused when people come in here and talk about stocks in relation to Geppy. What does the US stock market have to do with currency trading? So the carry trades will tank? So GBP/AUD short is a carry, so that will go up? Gold, stocks, oh my, the US economy, oh my. The US is not a third world country, and the US has a recession every 10 years, so what. If you are from the US, stop complaining about the economy. The currency is a down trend, now how does that affect the pound and the yen. So GU will go sky high, because of the stock market? Maybe trade the stock market? Maybe I don't know what I'm talking about, but /USD and /JPY pairs are both carry trades, and so what. Buy dips and sell the rallies. I wish one day this thread would be just about currencies. Tomorrow, the /USD pairs will go down, and the /JPY pairs will continue to rally. The /USD pairs are still too expensive to buy.
Well, unfortunately it DOES affect the currency market.
Currencies basically fluctuate in regards to interest rate differentials. Interest rates are maintained based upon a nations inflation and economic conditions.

During the US session watch the Dow futures chart and the USD/YEN, they are 99% of the time in synch.

So, since the GBYEN is the GBP/USD * USD/YEN I would definitely say world economies affect the currencies.

Obviously you do not pay attention to the WORLD economic news. The USA is not the only country experiencing financial difficulties. The entire world is hurting.

I am trying to be respectful here; but don't knock complaining about the USA economy unless you are actually living it you DO not have the observation tools to tell anyone to "stop complaining". I know people that are without jobs, food and other things just because of rampant inflation.

Remember the US is one of the largest economies in the world. Trust me when I tell you if it falters others will follow in it's footsteps.
  • #101,897
  • Jul 17, 2008 6:51pm Jul 17, 2008 6:51pm
Quoting Clouds
Tell me how you think you get your currency rates.

Demand for one asset over another THATS IT
"Millionaires don't use astrology, billionaires do"
  • #101,898
  • Jul 17, 2008 6:52pm Jul 17, 2008 6:52pm
Quoting Rustyyy


I am trying to be respectful here; but don't knock complaining about the USA economy unless you are actually living it you DO not have the observation tools to tell anyone to "stop complaining". I know people that are without jobs, food and other things just because of rampant inflation.
Yes, I live in the US, but this forum is about currency trading,, and not everyone wants to hear about 'how bad' the US economy is, (which it isn't that bad). I don't care if it affects currencies or not, I rather just trade, and not care think about the economy. We could talk about crime too, if you like.
  • #101,899
  • Jul 17, 2008 6:55pm Jul 17, 2008 6:55pm
Quoting Clouds
Yes, I live in the US, but this forum is about currency trading,, and not everyone wants to hear about 'how bad' the US economy is, (which it isn't that bad). I don't care if it affects currencies or not, I rather just trade, and not care think about the economy. We could talk about crime too, if you like.
If we didnt pay attention to Dow and financials when trading currencies, we would prolly lose all of our $$$$$$$$$$$$$$$$$
  • #101,900
  • Jul 17, 2008 6:55pm Jul 17, 2008 6:55pm
Quoting Clouds
I get so confused when people come in here and talk about stocks in relation to Geppy. What does the US stock market have to do with currency trading? So the carry trades will tank? So GBP/AUD short is a carry, so that will go up? Gold, stocks, oh my, the US economy, oh my. The US is not a third world country, and the US has a recession every 10 years, so what. If you are from the US, stop complaining about the economy. The currency is a down trend, now how does that affect the pound and the yen. So GU will go sky high, because of the stock market? Maybe trade the stock market? Maybe I don't know what I'm talking about, but /USD and /JPY pairs are both carry trades, and so what. Buy dips and sell the rallies. I wish one day this thread would be just about currencies. Tomorrow, the /USD pairs should go down, and the /JPY pairs should continue to rally. The /USD pairs are still too expensive to buy.
I guess over the last 2 days the rally in the DJ ... drop in oil .... rally in GBPCHF and GBPJPY (which are both carry trades and rally when the stock market is rallying) have no connection ( said with Sarcasm).

The day when the dj crashed down to test the breakout level of 10814 was the same day the gj tanked from 212 to 209 zone .

If gold moves from 960 to 1000 in one day ... do you think the dj will move only 50 points and the usdchf move only 30 pips ???? Gold has a .88 correlation with CHF

All markets are interlinked and one form of market will move another one ... gbpchf moved 200 points yesterday at the US markets rallied due to Airline and Banking sectors. Was it pure coincidence that the GBPCHF and GBPJPY took off yesterday as the US markets rallied and oil dropped ?????
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