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

now i'm out of the market waiting for the asian session.

right lilmoe yes i made a mistake ,i should 've taken some profits .

my strategy buy high ,sell higher, sell low ,buy lower as long as you know the direction of the market, does it make sense at all?

anyway ,Market is a great teacher no matter whether you are experienced or not

Karmo, my daily chart is in favor of a sharp drop from this area.

Whats your opinion on 2000 pips

keep on eating your milky bars lol

Hoping we can get through that 15M 50ema this time.

I like that, price is still below daily gann and if price manages to get below 4h gann tomorrow then definitely shorts are back and will retest the lows and possibility of a new low.

anal ??

i know u're a good trader, but we all make mistakes. partial profit is always the backup to our plans

odds for 500 point tank in the market before close are running at 10 to 1 right now .... any takers ?

which side are u?

You must be a momentum trader

I am bookie ... cannot tell you my side lol

be carefull, maybe you can have BOJ on opposite side; there was a rummors that yesterday Raly was actualy BOJ intervention..

makes sense ...weak economy with strong yen ... and they cannot make yen any weaker by cutting rates .. they have no where to go

Why Japan's Next Act Could
Wipe Out Your Trading Account Unless
You Heed Their Warning


By Sean Hyman
Good Day Currency Traders!
The currency markets have been absolutely insane lately. Currency pairs have moved more in a single month than they normally move in a year or two.
This never happens. I know I've never seen anything like this in the 16 years I've been in the currency trenches. And I'm hearing the same comments from guys who have been in this field for the last 30 years. No one can recall anything like it.
That means nothing like this has happened in the entire time we've had a Forex market - and definitely not since retail investors like you have been able to participate in this market.
Understandably, central bankers are a little concerned that their currencies are moving so fast. That's inspiring some of the world's most influential central bankers to talk about interventions. But I'll get to that in just a minute....
Obviously, the recent extreme volatility in all financial markets has normal stock and commodity investors running scared. In the currency markets, it's forcing margin calls and causing most everything to swing to an extreme.
The high-yielding currencies are being attacked while one currency has shot up higher than anyone's wildest imagination, the Japanese yen!
In fact, not one currency in the world's top 170 currencies has matched the yen's gains recently.
Naturally, this unprecedented rise of the yen has caused a ripple effect in most markets. But it's especially hurt Japan's "household name" stocks.

The Yen's Rise Has Crippled Sony, Toyota, Isuzu, Canon To Name a Few!


Isuzu's stock price has plunged the most since 1974. Nintendo dropped the most since 2001. And this year Canon has had to slash its full-year earnings outlook because of the yen's soaring price.
In fact, when the yen moves a single point vs. the dollar, it cuts Canon's annual operating profit by 9.9 billion yen. Ouch! So obviously, a currency's value has a huge impact on a company's overall earnings.
Toyota and Sony have both experienced the same problem. Sony has had to revise their earnings outlook several times this year because of the yen has risen so high in such a short time. So you can see that the rise of the yen is killing those major exporters too.
You see, Americans don't buy as many Japanese electronics, cars, etc. when the yen rises against the dollar because they're more expensive.
The yen has reached a 13-year high this month. In just one month's time, the yen has gained 14% against the dollar, 30% against the euro, 35% against the Aussie dollar, 35% versus the pound and 43% against the Canadian dollar!
I can't remember the yen ever moving so much in under a month. One or two percent isn't uncommon and maybe even 4-5% at times, but 30-40%? That just doesn't happen.
So what can anyone do when a currency is draining corporate profits and sending ripple effects around the world?
Answer: Central banks step in so they can address the root cause of the problem. In other words, they start talking about an intervention. An intervention happens when a central bank goes into the market and buys or sells their currency to preserve that country's overall economy.

The Bank of Japan Says "Make My Day!"

Interventions are rare occurrences, but when they happen traders definitely have to pay attention.
Historically speaking, the Bank of Japan has launched more interventions than any other central bank around the world. They have tons of reserves, so they have the cash readily available all the time to force the yen higher or lower.
On Monday the 27th, the Bank of Japan (along with the rest of the G-7) expressed their displeasure with the yen's recent violent rise. They said they will be monitoring the yen's activity. This is code for "traders, quit buying the yen (in the short-term) or else."
The Bank of Japan doesn't play around either. They will usually first come out and express their displeasure with the exchange rate. But if this jawboning doesn't work, then they are always ready to enter the market and starting pitching money either for or against the yen.
The last time they did this was in March of 2004 when the USD/JPY exchange rate was at 103.42. They went into the market, unannounced, and shocked traders by selling 14.8 trillion yen (approximately US$157 billion). They also sold over 20 trillion yen back in 2003.

Don't Bother Betting Against the Central Bank - You'll Lose Every Time

You need to take note when central bankers warn you that they're "ready to act quickly" as they said yesterday. After all, who wants to be on the wrong side of that trade when they sell trillions of yen? Not me!
I'd rather be on central bankers' side than against it.
So when the G-7 gave its blessing to Japan yesterday, the G-7 guys basically said they agreed with and approved of any central bank intervention if the BoJ felt it was necessary. In other words, the BoJ now has the green light to intervene.
It's true that interventions often don't have enough punch to actually affect change. But that's definitely not the case in Japan. In fact, any analyst who says interventions NEVER work obviously has never seen the Bank of Japan in action. The BoJ actually has a good track record for moving the yen as much as they want.
In the next couple weeks, the BoJ and rest of the G-7 will have their eyes on how the yen measures up versus the dollar and the euro. Europe and the U.S. are Japan's biggest trading partners so the yen's price affects how everything is priced in these three major economies.

Moral of this Intervention Story

When currencies start to reach extreme prices, listen to what the central bankers are saying. Central bankers will tell everyone if they're going to intervene, so you need to pay attention in order to trade with the central bankers and not against them.
The last time I saw the Bank of Japan intervene, it was too late to get out if you were already holding yen. The BoJ intervened so quickly and sold so much yen at once, that traders didn't have time to sell their yen pairs.
The moral of the story: Take these central bankers seriously when they talk about intervening in their currency. These central bankers have the ammo needed to hurt your trading account if you go against them. So make sure to heed their warnings.
Best Regards,
Sean

my state was simple nature of retracement in bullish upmove

I am not saying that it happend, still no confirmation, but.. it is always good to know some bits more

have a good nite all..

bullish flag has been broken

16350 here we go

Well...it appears as though it has decided on a direction!

wow wow, 200 pips up in 2mins!?

Edit: 5mins