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

  • #150,101
  • Dec 17, 2008 6:21pm Dec 17, 2008 6:21pm
Quoting rogerdoger
targeting ~126.3
historical low is around 129.30. Even though i agree we should bust through that area eventually, there is a real probability of a violent retrace at that point.
  • #150,102
  • Dec 17, 2008 6:32pm Dec 17, 2008 6:32pm
Quoting Eulogy
historical low is around 129.30. Even though i agree we should bust through that area eventually, there is a real probability of a violent retrace at that point.
fingers crossed but we'll see what happens
  • #150,103
  • Dec 17, 2008 6:39pm Dec 17, 2008 6:39pm
Quoting malcolmb14
The way I look at it is 30 pips in the bank better than kick in rear end ...lol
well...true, lol...

anyway, check this out. the only pair that didn't gain as much as all the other majors during this massive dollar selloff was the pound... the pound is VERY weak. if the dollar starts retracing back for a 50%er?? then what would that do to the pound? my guess is PLUNGE...

it's just like u're trying to push the pound down, but the dollar weakness was pushing it up. the pressure to the downside didn't go away, so if the dollar's "push" stops, pound should accelerate downwards, this means that next week we might actually see a massive selloff in cable and GJ if not before the end of this week... who knows!
  • #150,104
  • Dec 17, 2008 7:21pm Dec 17, 2008 7:21pm
Quoting lilmoe
well...true, lol...

anyway, check this out. the only pair that didn't gain as much as all the other majors during this massive dollar selloff was the pound... the pound is VERY weak. if the dollar starts retracing back for a 50%er?? then what would that do to the pound? my guess is PLUNGE...

it's just like u're trying to push the pound down, but the dollar weakness was pushing it up. the pressure to the downside didn't go away, so if the dollar's "push" stops, pound should accelerate downwards, this means that next week we might actually see...
Wow, that makes a lot of sense. Lets see them both go down the crapper and the sooner the better.
  • #150,105
  • Dec 17, 2008 7:27pm Dec 17, 2008 7:27pm
is there any cows out there cause this is tough
  • #150,106
  • Dec 17, 2008 7:37pm Dec 17, 2008 7:37pm
Quoting MykeFX
Wow, that makes a lot of sense. Lets see them both go down the crapper and the sooner the better.
lol, it usually backfires in ur face when it "makes sense"
let's hope things work out the way they should.... looool.

otherwise, if i start getting those bullish HDs again on the 1h and above, i'll start buying dips again for daily 50ema... u'll just never know what happens.


alright guys, i'm off for my nap, will be back at Frankfort
  • #150,107
  • Dec 17, 2008 7:46pm Dec 17, 2008 7:46pm
Quoting lilmoe
lol, it usually backfires in ur face when it "makes sense"
let's hope things work out the way they should.... looool.

otherwise, if i start getting those bullish HDs again on the 1h and above, i'll start buying dips again for daily 50ema... u'll just never know what happens.


alright guys, i'm off for my nap, will be back at Frankfort
cool mate time out see you at stop
  • #150,108
  • Dec 17, 2008 7:51pm Dec 17, 2008 7:51pm
Yen is goona turn into a LT buy me thinks

4 scalped out holding base position 87.24 sl .34

shorting euro also 4419
"Millionaires don't use astrology, billionaires do"
  • #150,109
  • Dec 17, 2008 7:53pm Dec 17, 2008 7:53pm
Quoting lilmoe
the euro has made a magnificent comeback from that fall... i'm out of words.

i did NOT expect it to make 2000 pips in such a period of time. not only was that bull run strong, it beet the crap out of those MASSIVE bearish monthly candles. it has gained more than 50% of it's loss over the last 4 months in just a little over 2 weeks....

ladies and gentlemen..... welcome to forex... a world that does not include "impossible" in its dictionary...


bravo..
EURGBP broke its resistance since 1995...parity anyone?
CCI decipherer
  • #150,110
  • Dec 17, 2008 7:55pm Dec 17, 2008 7:55pm
Quoting lilmoe
well...true, lol...

anyway, check this out. the only pair that didn't gain as much as all the other majors during this massive dollar selloff was the pound... the pound is VERY weak. if the dollar starts retracing back for a 50%er?? then what would that do to the pound? my guess is PLUNGE...

it's just like u're trying to push the pound down, but the dollar weakness was pushing it up. the pressure to the downside didn't go away, so if the dollar's "push" stops, pound should accelerate downwards, this means that next week we might actually see...
I have given your comments consideration and have the following to say:

If a USD correction occurs is should affect both GBPUSD and USDJPY pairs. That being said the GBPJPY should range more or less. For the pair to drop like a stone as mentioned in other posts (one post talking about a descending wedge to around 127) the Yen would have to appreciate considerably.

Given that the probability of the BOJ intervening, I would expect the Yen to depreciated severely. Just the talk of possible intervention may be enough to deflate the Yen down.

That being said a GBPJPY short may be a risky call. GBPUSD short may be the way to go.

Myself I’m leaning towards being long Geppy and short the cable.
  • #150,111
  • Dec 17, 2008 9:17pm Dec 17, 2008 9:17pm
when is this gonna start moving ...
  • #150,112
  • Dec 17, 2008 9:47pm Dec 17, 2008 9:47pm
Quoting OrionsWay
Yen is goona turn into a LT buy me thinks

4 scalped out holding base position 87.24 sl .34

shorting euro also 4419
You still dare to act as a kamikaze soldier ..
Short EU unless you look for a small gain only .. this pair is just starting to warm up I would say. USD is gonna plunge more in the weeks ahead .. due to low rate and Fed keeps printing money.
  • #150,113
  • Dec 17, 2008 9:48pm Dec 17, 2008 9:48pm
Quoting rgitt05
The USD crumbled further today in NY trading as concerns over exploding US budget deficits led to a further exodus from the greenback. EUR had its’ largest one-day move higher against the USD since its 1999 creation, rising from near 1.4100 to a peak around 1.4440 before falling back into a consolidation range near the highs. USD/JPY also plumbed 13-year lows, falling as low as about 87.15 from NY opening levels around 88.50. [u][b][color=red]Newswires reported a shift from Japan’s Fin. Min. Nakagawa as he indicated that the government is prepared...
Possible BOJ intervention if UJ still shows weakness .. me think.
  • #150,114
  • Dec 17, 2008 10:15pm Dec 17, 2008 10:15pm
according to forex.com forexinsider ..

They wont let u/j go below 85 ...
  • #150,115
  • Dec 17, 2008 10:47pm Dec 17, 2008 10:47pm
keeps getting rejected from 50ema @ 136.4
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  • #150,116
  • Dec 17, 2008 10:53pm Dec 17, 2008 10:53pm
Quoting lilmoe
well...true, lol...

anyway, check this out. the only pair that didn't gain as much as all the other majors during this massive dollar selloff was the pound... the pound is VERY weak. if the dollar starts retracing back for a 50%er?? then what would that do to the pound? my guess is PLUNGE...

it's just like u're trying to push the pound down, but the dollar weakness was pushing it up. the pressure to the downside didn't go away, so if the dollar's "push" stops, pound should accelerate downwards, this means that next week we might actually see...
... and EU

This EU stopped me out 7 times while trying to pick the top I lost nearly 9 percent of my account doing this ... and now I don't dare to go long either ... how funny.
Discipline + Patience - Fear - Greed = Success
  • #150,117
  • Dec 17, 2008 11:26pm Dec 17, 2008 11:26pm
any reason this thing just shot up?
  • #150,118
  • Dec 17, 2008 11:28pm Dec 17, 2008 11:28pm
its finally flying ...
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  • #150,119
  • Dec 17, 2008 11:29pm Dec 17, 2008 11:29pm
Quoting Eulogy
any reason this thing just shot up?
its interesting the pound is finally flexing its muscles on the yen .. geppy is moving with cable .. could be the coming yen rate cut? not sure ..
  • #150,120
  • Dec 17, 2008 11:36pm Dec 17, 2008 11:36pm
Looks like a 50% retrace. If it does a 61.8 instead, it will bring price up to the mid-137s.
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