we got a pretty sick hammer bar on gbp\jpy on the weekly chart... this shows there is strong buying and or support at that level... this has provided a temporary prop for the gbp-usd as well...
- #8,002
- Mar 9, 2007 10:43am Mar 9, 2007 10:43am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
The problem I see is that if cable is gonna follow gbp\jpy now its moves are huge it will drag cable with it even if technically from a trend perpective we should get a move down gbp\jpy will pull cable up a weakening in this pair will bring cable down... right now the up candles look quite strong we need a bearish candle on the higher level charts to form and provide a turning point for the contiuation down on gbp\jpy then i think we will see the next leg down on cable\usd... just some thoughts and possibilites...
Stocks up - carries up. Stocks down - carries down.
If GU is going along? Market is not trading GU for a week. There are just sellers at 9330-9350 (CBs, importers, whatever) and buyers at 9280-9260 (CBs, exporters, whatever). Speculators in the between. There is no big speculation money out of those ranges to provide continuation. This is not Technicals, this is price action ...
A good, smart and health sphinctered speculator will throw all his money in a bullish carry, for they are yet in a very, very attractive price
Well, the outcome was not really USD bullish. If you look it that way: The Jan number was higher than thought before, means the Feb number looks much more lower now.
Or I'm trying to curve-fit something here for a long?
Or I'm trying to curve-fit something here for a long?
A good, smart and health sphinctered speculator will throw all his money in a bullish carry, for they are yet in a very, very attractive price
If I count the waves with elliot theory, this would be a wave 4 up, before the last wave 5 down comes. This wave 3 down was already long enough. We stucked at 38% (9360) and were not able to break it yet.
The traders saw only the revision, not the actual outcome (they were in hurry to push the trigger). But this phase of hard action to react is over.
Who knows. Thats a real tough game. And nothing as a game, even with the best trend- or channel lines or fibos.
- #8,006
- Mar 9, 2007 10:50am Mar 9, 2007 10:50am
- Joined Sep 2006 | Status: Trader | 2,272 Posts
shin fejn declares to join right ireland to left ireland and we go & visit the 4x8....
...sorry, but i am off, untill we go start moving, somewhere, hope down to 222 & stocks -4,-5, thats what i wona see....
...sorry, but i am off, untill we go start moving, somewhere, hope down to 222 & stocks -4,-5, thats what i wona see....
its just money
- #8,009
- Mar 9, 2007 11:00am Mar 9, 2007 11:00am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Eurodollar down 60 pips and hold
dollaryen up 110 pips and hold
- #8,013
- Mar 9, 2007 11:18am Mar 9, 2007 11:18am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Sure, but that was all news reaction. The 'trigger effect', as I call it.
Probably yen was better? Look at EURJPY, you see its up too. What now?
- #8,016
- Mar 9, 2007 11:58am Mar 9, 2007 11:58am
on the gbp/jpy theres a confluence of a broken uptrend line on the daily chart and 61 percent retracement that price would have to contend with in order to move higher... this will be a pivotal zone... to watch at this point and next weekend i think gbpusd will be folowing in this pairs footsteps... unless another outside force acts upon either the dollar cable or yen... 
