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

  • #152,641
  • Jan 13, 2009 1:54pm Jan 13, 2009 1:54pm
Quoting moneymagnet
i wouldnt be surprised if we see another low before 4:30pm est. i am staying away until i get better confirmation. I think 129 maybe a good place to buld some longs. the pj is due for some retracing
not me not yet ...


tried long gu and she is getting beaten down by sellers at 1.4520 . I was in at 1.4480 off my 30 pip line off dp and bull div rsx on 5 min with 10 pip stop. i got out for 25 pip ( scalping mode on longs and holding for longer on sells on GU )

if gu cannot rise gj has NO hope of going up ..... 128 maybe

Attached Image
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  • #152,642
  • Jan 13, 2009 1:55pm Jan 13, 2009 1:55pm
I think we may have seen the bottom by looking at the treasuries data. Europena closed and US going ot close soon. Both are not looking so bearish anymore .. kinda neutral .. maybe its a turning for a short while .. I hope am right ..
  • #152,643
  • Jan 13, 2009 2:00pm Jan 13, 2009 2:00pm
If price gets below 129, then I would really be aware of BOJ intervention. They have indicated that they are watching things closely. Last time they intervened was back in 2003. I'm sticking to GU if GJ trades below 129 because the risk of intervention is a real possibility.

If you see a 600 pips spike up on GJ then it would be very obvious because no such news can cause such buying in this market.
  • #152,644
  • Jan 13, 2009 2:02pm Jan 13, 2009 2:02pm
Quoting Pipsqueak
If price gets below 129, then I would really be aware of BOJ intervention. They have indicated that they are watching things closely. Last time they intervened was back in 2003. I'm sticking to GU if GJ trades below 129 because the risk of intervention is a real possibility.

wrong pair .. switch to GBPCHF ..... it is insane like gj but no intervention

also intervention would be good .... lol ... a few hundred pips up would not go amiss in the account ....

those that are short should be trailing stops anyways ... to protect some profit ( a reminder to newbies)
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  • #152,645
  • Jan 13, 2009 2:09pm Jan 13, 2009 2:09pm
PA speaks louder than words...

The EU weekly chart looks bearish...

The indicators shows a Bearish Divergence..

It may take out the EU low 10/08

If this EU weakness continues, than US will be the safe haven for now..









Quoting mktjong
I think we may have seen the bottom by looking at the treasuries data. Europena closed and US going ot close soon. Both are not looking so bearish anymore .. kinda neutral .. maybe its a turning for a short while .. I hope am right ..
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  • #152,646
  • Jan 13, 2009 2:12pm Jan 13, 2009 2:12pm
Quoting malcolmb14
wrong pair .. switch to GBPCHF ..... it is insane like gj but no intervention

also intervention would be good .... lol ... a few hundred pips up would not go amiss in the account ....

those that are short should be trailing stops anyways ... to protect some profit ( a reminder to newbies)

alos look at eu .... this afternoon after markets settled it has simply delicious to trade off a 3m in chart .... loads of 30 - 60 pip scalps
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  • #152,647
  • Jan 13, 2009 2:16pm Jan 13, 2009 2:16pm
Quoting malcolmb14
wrong pair .. switch to GBPCHF ..... it is insane like gj but no intervention

also intervention would be good .... lol ... a few hundred pips up would not go amiss in the account ....

those that are short should be trailing stops anyways ... to protect some profit ( a reminder to newbies)
Do you think we will retrace during Asia again? I'm itching to buy here sub 129 looking for the 15M 50ema. It seems Asia almost always retrace the move from US (I would say a high percentage). Your observation is very correct about this.
  • #152,648
  • Jan 13, 2009 2:18pm Jan 13, 2009 2:18pm
Quoting malcolmb14
not me not yet ...


tried long gu and she is getting beaten down by sellers at 1.4520 . I was in at 1.4480 off my 30 pip line off dp and bull div rsx on 5 min with 10 pip stop. i got out for 25 pip ( scalping mode on longs and holding for longer on sells on GU )

if gu cannot rise gj has NO hope of going up ..... 128 maybe

Attachment
thats why i am on the side lines on the pj
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #152,649
  • Jan 13, 2009 2:18pm Jan 13, 2009 2:18pm
intervention? yeah, maybe to drive it even lower. there is not going to be any intervention.

Quoting Pipsqueak
If price gets below 129, then I would really be aware of BOJ intervention. They have indicated that they are watching things closely. Last time they intervened was back in 2003. I'm sticking to GU if GJ trades below 129 because the risk of intervention is a real possibility.

If you see a 600 pips spike up on GJ then it would be very obvious because no such news can cause such buying in this market.
Nihil Sine Deo.
  • #152,650
  • Jan 13, 2009 2:19pm Jan 13, 2009 2:19pm
The EJ is starting to meltdown...

It all bearish.. If the EU continues fallen, the EJ will pull the GJ down also..

How low can you go?


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  • #152,651
  • Jan 13, 2009 2:20pm Jan 13, 2009 2:20pm
Quoting moneymagnet
i wouldnt be surprised if we see another low before 4:30pm est. i am staying away until i get better confirmation. I think 129 maybe a good place to buld some longs. the pj is due for some retracing
as stated, a new low
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #152,652
  • Jan 13, 2009 2:20pm Jan 13, 2009 2:20pm
My intervention is to buy more short positions..



Quoting Scrat
intervention? yeah, maybe to drive it even lower. there is not going to be any intervention.
[
  • #152,653
  • Jan 13, 2009 2:26pm Jan 13, 2009 2:26pm
Quoting Pipsqueak
Do you think we will retrace during Asia again? I'm itching to buy here sub 129 looking for the 15M 50ema. It seems Asia almost always retrace the move from US (I would say a high percentage). Your observation is very correct about this.

maybe ..... I was looking for retrace in asia yesterday but nothing .... only 50 pips

buy at 129 is ok ... just place tight stop (but high risk I think ) ...

however word of caution the selling in GU this afternoon into US close has still been very strong.
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  • #152,654
  • Jan 13, 2009 2:26pm Jan 13, 2009 2:26pm
forget longs, I got out with a loss because I hate holding losers, the £ and $ are racing for the bottom, hold on
Money & Pain Respect the market, protect your capital, be patient
  • #152,655
  • Jan 13, 2009 2:37pm Jan 13, 2009 2:37pm
as mentioned eu is dreamy to trade on 3 min .. scalping

rsx turns up (sma crosses rsx is green ) go long on next 30 pip line off dp ..

stop 15 pip take profit 30 - 60

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  • #152,656
  • Jan 13, 2009 2:38pm Jan 13, 2009 2:38pm
Quoting malcolmb14
maybe ..... I was looking for retrace in asia yesterday but nothing .... only 50 pips

buy at 129 is ok ... just place tight stop (but high risk I think ) ...

however word of caution the selling in GU this afternoon into US close has still been very strong.
I took a long at 129.02 with 50 pips SL. Good thing about bottom picking is that I can use tight SL.
  • #152,657
  • Jan 13, 2009 2:41pm Jan 13, 2009 2:41pm
IMVHO it seem like breaking a low that has stood since 95 is a good place to move the price back up psychologically speaking. I am going to watch for a good place to go long. Will watch the Asian open also for a retrace.
  • #152,658
  • Jan 13, 2009 2:43pm Jan 13, 2009 2:43pm
Quoting malcolmb14
as mentioned eu is dreamy to trade on 3 min .. scalping

rsx turns up (sma crosses rsx is green ) go long on next 30 pip line off dp ..

stop 15 pip take profit 30 - 60

Attachment
That does sound like fun
  • #152,659
  • Jan 13, 2009 2:43pm Jan 13, 2009 2:43pm
I'm not going long until cable hits 1.4, and U/J 80
Money & Pain Respect the market, protect your capital, be patient
  • #152,660
  • Jan 13, 2009 2:45pm Jan 13, 2009 2:45pm
Quoting Pipsqueak
I took a long at 129.02 with 50 pips SL. Good thing about bottom picking is that I can use tight SL.
All TF up to daily are showing (OB) -
That wasn't the case earlier today the daily was showing downside pressure so the move down should have been expected to retest the lows. . . I think it's just a bit overdone. . .

I do agree with everyone on the this thread that the downside will continue to at least 125 area but we may see a slight retrace before that happens. . . 131.75 area seems to be a good 1st target, above there is back to the DP @ 133.45 area. . .
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