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

  • #116,221
  • Sep 21, 2008 5:04pm Sep 21, 2008 5:04pm
if this sucker makes a good run up i'm shorting but otherwise i'll be on the sidelines..
  • #116,222
  • Sep 21, 2008 5:08pm Sep 21, 2008 5:08pm
Quoting Trader Neal
if this sucker makes a good run up i'm shorting but otherwise i'll be on the sidelines..
agree..baby

i've been short bias but was not sure were this baby waz going to go..as at friday i waz thinking 204? but now i'm thinking 201..

let see...i've got a sell order sitting at 201....my tp remains 177..baby
  • #116,223
  • Sep 21, 2008 5:08pm Sep 21, 2008 5:08pm
Quoting msniper
what is the closing for last week candle for EJ guys ?

i am just long @ 154.80 for gap refilling and i wanna make sure about the closing just incase i have wrong one

mine is 155.24
i got 155.41 according to gft.
  • #116,224
  • Sep 21, 2008 5:09pm Sep 21, 2008 5:09pm
Quoting mktjong
I expect macd to retrace down to zero line, it could be 23.6% - 50% retracement .. let's see.
oh oh .. it may try to fill in the gap first ..
  • #116,225
  • Sep 21, 2008 5:09pm Sep 21, 2008 5:09pm
Quoting Trader Neal
i got 155.41 according to gft.
thank u very much
  • #116,226
  • Sep 21, 2008 5:11pm Sep 21, 2008 5:11pm
Quoting Big Bruv
agree..baby

i've been short bias but was not sure were this baby waz going to go..as at friday i waz thinking 204? but now i'm thinking 201..

let see...i've got a sell order sitting at 201....my tp remains 177..baby
yeah it might be a long wait.. 201 is up there. i want to go long here but there's just not enough optimism in my book.. eventually will go down. i should have went long last week it was obvious then but now it gets tough..
  • #116,227
  • Sep 21, 2008 5:12pm Sep 21, 2008 5:12pm
Quoting msniper
thank u very much
sure it's not a problem. gives me something else to look at lol..
  • #116,228
  • Sep 21, 2008 5:19pm Sep 21, 2008 5:19pm
Quoting TraderStar
You have an ignore button too.

malcomb is the arrogant one ... attacking eveyone who does not trade exactly as he does.
Karmo's analysis are steady & reasoned, I do not see him switching directions every other day. That is more my style, so that is why I listen to him. I also like Godfrey & rgitt. But I don't attack the ones I don't agree with.

I only picked apart your post ....saying things like ' shorting was the only way to go ' on a day when gj moved 700 pips in 24 hours . I mean you have to admit your statement was a little misleading to the newer traders ??? ' 'shorting is the only way to go on Friday' so you are telling them that on a day when there is a 700 pip rally that shorting is the only way to go ?

wouldn't it make more sense to buy on the dips ?

it is not only me that says this .. but also hundreds of books .. the trend is your friend...

so really who is the arrogant one here ? me or you ? you are married to the bearish trend .. .that is fact ... not being arrogant .. look at your postings .. shorting is the only way to go ..... we have had a 1200 pip reversal .... and you are still saying short is the way to go ....and you seem to be a swing trader rather than day trader ???

if it makes money for you great ... but do not post such utter nonsense for newer traders to listen to and maybe even trade and lose money.....
Blogging daily now at www.volume.zone
  • #116,229
  • Sep 21, 2008 5:19pm Sep 21, 2008 5:19pm
shorted euro's on the open 4491
"Millionaires don't use astrology, billionaires do"
  • #116,230
  • Sep 21, 2008 5:20pm Sep 21, 2008 5:20pm
Quoting Trader Neal
yeah it might be a long wait.. 201 is up there. i want to go long here but there's just not enough optimism in my book.. eventually will go down. i should have went long last week it was obvious then but now it gets tough..
yeah baby..i'm prepared to wait...my first entry is at 200 then another at 201..if price gets there..to be honest i have no clue as to the short term view ....long term this baby is going to hell...
  • #116,231
  • Sep 21, 2008 5:22pm Sep 21, 2008 5:22pm
Quoting TraderStar
Breakout?? Today it was all about shorting the rallies.
Unless there is a gap up on Sunday .. and that would be a gift for new shorting, I see no strength here. I've been wrong before


is this your post ?

just wondering
Blogging daily now at www.volume.zone
  • #116,232
  • Sep 21, 2008 5:26pm Sep 21, 2008 5:26pm
Quoting Big Bruv
yeah baby..i'm prepared to wait...my first entry is at 200 then another at 201..if price gets there..to be honest i have no clue as to the short term view ....long term this baby is going to hell...
for sure the funda.. are very bearish for uk. but when they start to file out is another story. their holding onto their last hopes. raising rates is not an option but the cpi is way over cooked. when things tame they will be cutting and the price will surely cave in. the key to carry trades is rising rates and that is not going to be occurring at least from what i can see. the only thing positive about the uk is their banks looked stronger than the us in the heat of the bail outs. 200's "if" it gets there and it could.
  • #116,233
  • Sep 21, 2008 5:32pm Sep 21, 2008 5:32pm
Quoting Big Bruv
yeah baby..i'm prepared to wait...my first entry is at 200 then another at 201..if price gets there..to be honest i have no clue as to the short term view ....long term this baby is going to hell...
I think your short entries are good, I will be looking there as well if other factors agree .. but I am not sure about the sub 180 level anymore .. she has a strong weekly candle and often when she reverses she moves up with a vengence .. so there may be a test of a longer term TL which is in the 206-207 area, however news could override everything . .these are crazy times so I would say follow price action first and ask questions later.
  • #116,234
  • Sep 21, 2008 5:32pm Sep 21, 2008 5:32pm
actually if i was uk central banker i might raise 25 baisis points and hold to contain cpi. i wouldn't want the rates too close to the cpi to stay away from having negative rates of return but their logic is different and will likely just hold and cut sometime probably after demand slackens of oil from global slow down going though the 2nd half.. we'll see i don't trade the news but i at least want to keep ahead of what's going on so theirs no big surprises to that shift the market. but we know how the cb's like to throw curve balls.
  • #116,235
  • Sep 21, 2008 5:33pm Sep 21, 2008 5:33pm
short at 9615. this was after the bounce back up to ~9660.
Will see what happens at 9560.
Short term target of 9515.

Out of this trade very short term if does not keep below 9600
--post hoc ergo propter hoc--
  • #116,236
  • Sep 21, 2008 5:34pm Sep 21, 2008 5:34pm
mac14 i think your right and i hope others do to

lets get back to the charts and trade this baby

  • #116,237
  • Sep 21, 2008 5:37pm Sep 21, 2008 5:37pm
If we get a retracement I have drawn some fib levels for the move 189.77 to now for all to use , as the 185 level is just so far away and gives more ' distance ' between fib levels

195.5 , 194.41 ( typically in strong up trends retracements go to 38.2 / 50 %)
, 193.52 , 192.64

I am sitting out till US markets tomorrow.

currently unless the 33 sma ( red line) on the attached 60 min chart is broken I will be looking to buy the dips.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 210 KB
Blogging daily now at www.volume.zone
  • #116,238
  • Sep 21, 2008 5:46pm Sep 21, 2008 5:46pm
Quoting malcolmb14
If we get a retracement I have drawn some fib levels for the move 189.77 to now for all to use , as the 185 level is just so far away and gives more ' distance ' between fib levels

195.5 , 194.41 ( typically in strong up trends retracements go to 38.2 / 50 %)
, 193.52 , 192.64

I am sitting out till US markets tomorrow.

currently unless the 33 sma ( red line) on the attached 60 min chart is broken I will be looking to buy the dips.

Attachment
the reason for buying the dips
1) strong trend at the moment on daily .. break out of month long trend line
2) I believe that congress will approve something in regards to rescue plan and when that happens gj will move 300 pips very quickly to upside.
3) the 33 sma on the 60 min has been most useful for trading direction ..... as you can see from the chart ....and showed the long off 188 and 190 very nicely....33 is a fib number and I have found the 14 / 33 sma's to be a deadly combo
Blogging daily now at www.volume.zone
  • #116,239
  • Sep 21, 2008 5:47pm Sep 21, 2008 5:47pm
Quoting malcolmb14
If we get a retracement I have drawn some fib levels for the move 189.77 to now for all to use , as the 185 level is just so far away and gives more ' distance ' between fib levels

195.5 , 194.41 ( typically in strong up trends retracements go to 38.2 / 50 %)
, 193.52 , 192.64

I am sitting out till US markets tomorrow.

currently unless the 33 sma ( red line) on the attached 60 min chart is broken I will be looking to buy the dips.

Attachment
Malcolmb,

Look at Eur/Aud or your favorite Gbp/Aud, these pairs are volatile .. not under Geppy.. I longed Eur/Aud around 1.7300 level and it bursts to the top very fast ..
Did u catch Gbp/aud ..
  • #116,240
  • Sep 21, 2008 5:49pm Sep 21, 2008 5:49pm
Quoting malcolmb14
the reason for buying the dips
1) strong trend at the moment on daily .. break out of month long trend line
2) I believe that congress will approve something in regards to rescue plan and when that happens gj will move 300 pips very quickly to upside.
3) the 33 sma on the 60 min has been most useful for trading direction ..... as you can see from the chart ....and showed the long off 188 and 190 very nicely....33 is a fib number and I have found the 14 / 33 sma's to be a deadly combo
No doubts, agreed with u. The 4 hr trend is still very strong. The 1 hr macd cross down would mean retracement in place until it crosses up again ..imo.
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