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

  • #145,001
  • Dec 2, 2008 1:44am Dec 2, 2008 1:44am
pretty crappy to trade those markets...since yesterday, because there are no chances for decent reentering and i do not expect it to just go on dropping like hell today...

it is 8:43 am here. 17 minutes till london time and this upmove we currently see could well be the frankfurt/pre-london headfake, so i am looking for shorts in general. but since we are sitting on some support, i am not 100% sure about that. nevertheless, i would have wished for price to be located at some better area, when i come to trading

since we did not see any retracement which we definitely were expecting yesterday, this all smells somehow strange..let's see, perhaps i am biased and this just is a whole week selloff
  • #145,002
  • Dec 2, 2008 1:51am Dec 2, 2008 1:51am
Goood Morning to All!
How is it going?
  • #145,003
  • Dec 2, 2008 1:53am Dec 2, 2008 1:53am
my opinion is a move to the downside making a new all time low in the process is highly unlikely. the recent selloff seems to be directly correlated to the massive us stock market drop. given futures are in the green at the moment...the only thing that may drive this pair lower (among with many others) is some bombshell news we are not aware of. other then that i see a rally up at best..at worst...consolidation until ny session at the low possibly creating a W reversal pattern in the process on the 1h chart. This whole statement will be proven invalid if and when we make a new low.
Different opinions highly valued, ignorant to slander.
  • #145,004
  • Dec 2, 2008 1:57am Dec 2, 2008 1:57am
Attached Image (click to enlarge)
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Timing is everything
  • #145,005
  • Dec 2, 2008 2:13am Dec 2, 2008 2:13am
Quoting psiholog
my opinion is a move to the downside making a new all time low in the process is highly unlikely. the recent selloff seems to be directly correlated to the massive us stock market drop. given futures are in the green at the moment...the only thing that may drive this pair lower (among with many others) is some bombshell news we are not aware of. other then that i see a rally up at best..at worst...consolidation until ny session at the low possibly creating a W reversal pattern in the process on the 1h chart. This whole statement will be proven invalid...
If the Stock market was the cause of the drop, then the Japan Stock market closing negative -533 points a moment ago, should cause GBP/JPY to even go lower.

http://www.nni.nikkei.co.jp/CF/FR/MKJ
  • #145,006
  • Dec 2, 2008 2:20am Dec 2, 2008 2:20am
lol sure, we fall until we hit the double digit area. those markets are just sick
  • #145,007
  • Dec 2, 2008 2:24am Dec 2, 2008 2:24am
Quoting Dr.Geppynius
pretty crappy to trade those markets...since yesterday, because there are no chances for decent reentering and i do not expect it to just go on dropping like hell today...

it is 8:43 am here. 17 minutes till london time and this upmove we currently see could well be the frankfurt/pre-london headfake, so i am looking for shorts in general. but since we are sitting on some support, i am not 100% sure about that. nevertheless, i would have wished for price to be located at some better area, when i come to trading

since we did not see...
GM - agreed, a little one so I sold cable on the repeated failure to break its 4900 level and and UJ was flat at that time. Just exited in the push towards yesterdays low, Now what will The Brits do........
Trading Levels with WRBs
  • #145,008
  • Dec 2, 2008 2:25am Dec 2, 2008 2:25am
nothing is cast in stone but it sure looks that way
Timing is everything
  • #145,009
  • Dec 2, 2008 2:25am Dec 2, 2008 2:25am
Quoting dreed
If the Stock market was the cause of the drop, then the Japan Stock market closing negative -533 points a moment ago, should cause GBP/JPY to even go lower.

http://www.nni.nikkei.co.jp/CF/FR/MKJ
I always thought HSI (Hong Kong Index) has more influence. Compare the last few minutes of Geppy drop with HSI, there's correlation between the two alot of times.
  • #145,010
  • Dec 2, 2008 2:25am Dec 2, 2008 2:25am
Quoting dreed
If the Stock market was the cause of the drop, then the Japan Stock market closing negative -533 points a moment ago, should cause GBP/JPY to even go lower.

http://www.nni.nikkei.co.jp/CF/FR/MKJ
futures just turned negative after being 50points up a minute ago. asia session has been down for a while now...we just dropped to make a new low. see the correlation?
Different opinions highly valued, ignorant to slander.
  • #145,011
  • Dec 2, 2008 2:25am Dec 2, 2008 2:25am
*shrug*
long 137.8
we just renewed low, time to retrace

update:
seems that market is really mad now
closed long and reopened shorts..
  • #145,012
  • Dec 2, 2008 2:25am Dec 2, 2008 2:25am
Quoting Dr.Geppynius
lol sure, we fall until we hit the double digit area. those markets are just sick
good morning everyone!

lol man im so lost....i'm currently flat and confused...waiting.
  • #145,013
  • Dec 2, 2008 2:26am Dec 2, 2008 2:26am
Quoting hyh
*shrug*
long 137.8
we just renewed low, time to retrace
lol if making a decision was that easy i'd be rich by now! Good luck
  • #145,014
  • Dec 2, 2008 2:28am Dec 2, 2008 2:28am
Hey islander, good to see you knocking a'rd. hope all is well with you.
FUBAR...
  • #145,015
  • Dec 2, 2008 2:29am Dec 2, 2008 2:29am
Down she goes!!!

Next stop who knows!
  • #145,016
  • Dec 2, 2008 2:29am Dec 2, 2008 2:29am
Quoting susufx
good morning everyone!

lol man im so lost....i'm currently flat and confused...waiting.
i'm also flat. just selling into falling knives...no..even tough it would have worked yesterday ^^

isn't this just annoying...drop drop drop. but 139 would have been a decent headfake reentry.
  • #145,017
  • Dec 2, 2008 2:32am Dec 2, 2008 2:32am
Easy pips, Just beautiful

Thank you GJ for my bday gifts, I know more is on the way
Trade what you see, not what you think.
  • #145,018
  • Dec 2, 2008 2:32am Dec 2, 2008 2:32am
morning all...

just like i thought, we had to test more lows before retracing further up, if ever...

last entry short was 5m 50ema... hope u guys caught that one.
  • #145,019
  • Dec 2, 2008 2:33am Dec 2, 2008 2:33am
Quoting karmostaji
Easy pips, Just beautiful

Thank you GJ for my bday gifts, I know more is on the way
lol you got your new lows and lovely pips. a7la birthday
  • #145,020
  • Dec 2, 2008 2:34am Dec 2, 2008 2:34am
135.85 we have possible broadening triangle formations LTL. Watch price action around this level closely as USD/JPY is 30 pips from its descending 1hr channels LTL. We have a bullish wedge on the dayly USD/JPY that still needs one more leg up to confirm the UTL. This is cruicial so im taking a patience pill and watching how the market unfolds.
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