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

  • #117,701
  • Sep 28, 2008 8:25pm Sep 28, 2008 8:25pm
Quoting rgitt05
If the UJ breaks the 107 area, I believe GJ can get thru the consolidation zone..195.50 to 197.00

Yeah, 107 is a tough cookie o crack right now but I think we will see it in due time. Should see buyers in UJ ar'd 106.40/106.60 area before breaking thru to 107.35/108.20 area. . .
  • #117,702
  • Sep 28, 2008 8:27pm Sep 28, 2008 8:27pm
Quoting rgitt05
If the UJ breaks the 107 area, I believe GJ can get thru the consolidation zone..195.50 to 197.00

GJ also having a hard time getting above daily 5sma. . . keeping my eye on the daily candle for further clues. . . 4hr hour chart looks bullish so I'll wait to see what happens. . .
  • #117,703
  • Sep 28, 2008 8:28pm Sep 28, 2008 8:28pm
on the daily chart 76.8% retracement around 210 area..

Attached Image (click to enlarge)
Click to Enlarge Name: daily 2.gif Size: 51 KB
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  • #117,704
  • Sep 28, 2008 8:30pm Sep 28, 2008 8:30pm
Quoting rgitt05
on the daily chart 76.8% retracement around 210 area..

Wow, that's petty optimistic. . . I'd be happy with 200 area 1st - LOL!
  • #117,705
  • Sep 28, 2008 8:35pm Sep 28, 2008 8:35pm
We are due for a big recovery this week...

The Dow future are positive and the asian market is positive as well..

I don't see anymore shorts on the board..



Quoting quecee5
Wow, that's petty optimistic. . . I'd be happy with 200 area 1st - LOL!
[
  • #117,706
  • Sep 28, 2008 8:40pm Sep 28, 2008 8:40pm
Quoting OrionsWay
had to long the euro on the open 4522
hope you toook the few pips

I have been short since 1.4589 , target 1.4450
Blogging daily now at www.volume.zone
  • #117,707
  • Sep 28, 2008 8:41pm Sep 28, 2008 8:41pm
Quoting rgitt05
We are due for a big recovery this week...

The Dow future are positive and the asian market is positive as well..

I don't see anymore shorts on the board..

DOW futures are up 20 pts. Might as well say it's flat.

I'm not sure what is going to happen but the last thing I see is a run up to 200. I could be wrong and will admit it if I am.

B
  • #117,708
  • Sep 28, 2008 8:43pm Sep 28, 2008 8:43pm
Quoting malcolmb14
hope you toook the few pips

I have been short since 1.4589 , target 1.4450
Hey M,

yup .. selling rallies on EU and GU in the next few days, maybe extend to weeks even months ..it can't go wrong mostly
  • #117,709
  • Sep 28, 2008 8:44pm Sep 28, 2008 8:44pm
Quoting malcolmb14
hope you toook the few pips

I have been short since 1.4589 , target 1.4450

NICE!!!

My short order didnt get filled at 1.4580 . Another reason to leave FXCM.

Went short on this small retracement. This should be easy pips!

B
  • #117,710
  • Sep 28, 2008 8:46pm Sep 28, 2008 8:46pm
Quoting rgitt05
We are due for a big recovery this week...

The Dow future are positive and the asian market is positive as well..

I don't see anymore shorts on the board..

I agree. . . However the markets r still jittery right now so we could see lots of volatility before it finally settles down. A break above 197 area will set the stage for 202/205 area then we could see price head south for a bit before continuing if it's to continue.

210 would be nice but price has lots of wood to chop to get there. Maybe this Wall Street mess will be the catalyst to propel it there who knows. . .

I do agre shorts would be crazy to go against the rescue of the goverment JMHO! Injecting that type of money into the markets has to generate some type of rally or optimism....
  • #117,711
  • Sep 28, 2008 8:48pm Sep 28, 2008 8:48pm
Quoting bigcoupe
NICE!!!

My short order didnt get filled at 1.4580 . Another reason to leave FXCM.

Went short on this small retracement. This should be easy pips!

B
It may now retrace up a bit before continuing down .. bullish div on 5 min.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.GIF Size: 54 KB
  • #117,712
  • Sep 28, 2008 8:48pm Sep 28, 2008 8:48pm
Looks like gap was filled. In order to go up, PA need to close above 4hr gann and 4hr qqe cross upward otherwise I am short for time being. Took small short from gap top @ 195.40
Do not follow my trades. Trade what you see on your own charts.
  • #117,713
  • Sep 28, 2008 8:48pm Sep 28, 2008 8:48pm
Quoting mktjong
Hey M,

yup .. selling rallies on EU and GU in the next few days, maybe extend to weeks even months ..it can't go wrong mostly
I will trade both sides of the market .... right now moved stop to +20 and letting her run

seems to be moving down in small waves into 1.4444.

As long as 1.4590 holds it is short the rallies

GJ i have been going long off 195.15 , closing for 25 pips a ride after commission

Oil should follow eu and drop with strength in usd and I am short off 1.06.45 with tight stop .... see how that pans out
Blogging daily now at www.volume.zone
  • #117,714
  • Sep 28, 2008 8:53pm Sep 28, 2008 8:53pm
That is not my short term target of 210 area..I am only pointing out if the PA full retracement to the upper trendline or 76.8%..

My mid-term target is 204 area..



Quoting bigcoupe
DOW futures are up 20 pts. Might as well say it's flat.

I'm not sure what is going to happen but the last thing I see is a run up to 200. I could be wrong and will admit it if I am.

B
Attached Image (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 56 KB
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  • #117,715
  • Sep 28, 2008 8:59pm Sep 28, 2008 8:59pm
You are right...I didn't point out my mid term target..204.00 area

PA have been crazy for the past week..(Ranging).

Above 197 is absolutely is a clearway to the 200 area..

Full retracement maybe a long shot but it doesn't hurt to know the highest point..




Quoting quecee5
I agree. . . However the markets r still jittery right now so we could see lots of volatility before it finally settles down. A break above 197 area will set the stage for 202/205 area then we could see price head south for a bit before continuing if it's to continue.

210 would be nice but price has lots of wood to chop to get there. Maybe this Wall Street mess will be the catalyst to propel it there who knows. . .

I do agre shorts would be crazy to go against the rescue of the goverment JMHO! Injecting that type of money into the markets has to generate some type of rally or optimism....
[
  • #117,716
  • Sep 28, 2008 8:59pm Sep 28, 2008 8:59pm
Prepared by: FX Solutions, LLC Saddle River Executive Centre, One Route 17 South, Suite 260, Saddle River, NJ 07458
9/28/2008 9:06:25 PM

CHINA PRESS: The People`s Bank of China has stated recently that it

will slow the appreciation of the yuan a prominent economist who met

officials of the central bank said in a report by the South China

Morning Post. The comments by David Hale the chairman of Hale Advisors

support the perception of many observers that the central bank has

shifted to a policy of slower yuan strengthening as the currency

stalled against the US dollar in the third quarter. "I had lunch with

the People`s Bank of China on Friday and they told me that they`re

going to slow down the appreciation of the currency here" Hale said in

the report.
  • #117,717
  • Sep 28, 2008 9:07pm Sep 28, 2008 9:07pm
Quoting mktjong
Prepared by: FX Solutions, LLC Saddle River Executive Centre, One Route 17 South, Suite 260, Saddle River, NJ 07458
9/28/2008 9:06:25 PM

CHINA PRESS: The People`s Bank of China has stated recently that it

will slow the appreciation of the yuan a prominent economist who met

officials of the central bank said in a report by the South China

Morning Post. The comments by David Hale the chairman of Hale Advisors

support the perception of many observers that the central bank has

shifted to a policy of slower yuan strengthening as the currency

stalled against the US dollar in the third quarter. "I had lunch with

the People`s Bank of China on Friday and they told me that they`re

going to slow down the appreciation of the currency here" Hale said in

the report.
how did you make the connection that CNY and JPY are positively correlated?
  • #117,718
  • Sep 28, 2008 9:19pm Sep 28, 2008 9:19pm
Longs,

I do not see anything at the moment that suggests we will even get to the 197.3 resistance level. I agree that if that breaks, we will go north. However, as stated, there's nothing in the GANN or MOM that suggests we are heading up that far. IMHO, the fundimentals don't support this either. Even if the bill is signed, $250Bil is a far cry from $700Bil +. I don't see the market liking it at all.

Just my HO and I will admit I'm wrong if I am. Won't be the first time

B
  • #117,719
  • Sep 28, 2008 9:20pm Sep 28, 2008 9:20pm
welcome back.

Quoting quecee5
Price is currently trading above the daily gann hi/lo. As long as price is situated above there I look for further upside. . .

I'm looking for a break and close above daily 5sma for further confirmation of my long position. I don't look to short until 200/202 area possibly 205. . .

Short covering is imminent which drive should price thru the roof. . .
Nihil Sine Deo.
  • #117,720
  • Sep 28, 2008 9:21pm Sep 28, 2008 9:21pm
Quoting Eulogy
how did you make the connection that CNY and JPY are positively correlated?
Just look at the history for the last 2 years or so. Even though, it doesn't have more than 90% correlation but is still on a positive side as I see it.
Solely based on my observation, Asian currencies are likely tied up together one way or another just like Euro and GBP. If Euro strengthen, GBP tends to follow as it benefits from neighbors' economy. Same principle applies in Asia.
Neverthless, we have also seen the Euro and GBP correlation can way off for some reason on certain occasion but mostly its correlation is on a positive side.
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