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

  • #156,861
  • Jan 29, 2009 2:40pm Jan 29, 2009 2:40pm
Quoting malcolmb14
something not right with GU...

eu tanking , usdchf ripping up ... gu going opposite to both .. maybe Soros plan is working ... now all we got to do is figure out where his boys have placed thier sell orders .... lol

Attachment

lol, yes that's correct We need to be patient and watch closely
  • #156,862
  • Jan 29, 2009 2:43pm Jan 29, 2009 2:43pm
Quoting ukdaytrader
Well this is the precise point I am making; every man and his dog is predicting new lows for Sterling; It's all over the financial news every day. Why? We already know that funnymentals mean sh1t, so we can't cite a poor economy for more declines. What if the real suckers are those who are holding shorts from 119 in the belief that it'll tank again soon?

Like I said, I do not know where this will go, only that 140 is 1100 pips away and 119 is 1000. Doesn't seem entirely unreasonable that 140 could be hit before 120.

I agree could go either way ....

hence I like to trade my 3 min charts..lol .. in us session 3 min charts ranging up and down 400 pips between very defined s/r levels ... been to sweet

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  • #156,863
  • Jan 29, 2009 2:46pm Jan 29, 2009 2:46pm
Im short for 128.68...

Malc, how long do you wait to move you SL to BE?
Dr. C
  • #156,864
  • Jan 29, 2009 2:48pm Jan 29, 2009 2:48pm
Quoting cvcamper
Im short for 128.68...

Malc, how long do you wait to move you SL to BE?


typically 20 pip .. last one was to tight .. got stopped out .. but re - entered with stop set at be +1 ... the trick is if you move stop to be to early and you get stopped out. and the trade set up is still valid , hop back in
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  • #156,865
  • Jan 29, 2009 2:51pm Jan 29, 2009 2:51pm
Quoting malcolmb14
typically 20 pip .. last one was to tight .. got stopped out .. but re - entered with stop set at be +1 ... the trick is if you move stop to be to early and you get stopped out. and the trade set up is still valid , hop back in
Only problem then is you have just entered in at a lower position, no? I always worry bout that.
Dr. C
  • #156,866
  • Jan 29, 2009 2:54pm Jan 29, 2009 2:54pm
Quoting cvcamper
Only problem then is you have just entered in at a lower position, no? I always worry bout that.

some times ... but lets face it if this thing moves down from here the daily pivot at 128 is target and if it really tanks then 126.50 ... so what is a few pips between friends.

If you are facing large losses for the day then is tough to do ... but so far so good .. no losers today ... almost think i should jack it in before things go all hay wire on me and i get a massive loss ...lol
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  • #156,867
  • Jan 29, 2009 2:54pm Jan 29, 2009 2:54pm
Quoting cvcamper
Only problem then is you have just entered in at a lower position, no? I always worry bout that.

But what's low ? Think about that question. And you will discover something about FX.
  • #156,868
  • Jan 29, 2009 2:55pm Jan 29, 2009 2:55pm
I just moved SL to +1..... could very well trigger, but I got to go.... Clinic starts at 1
Dr. C
  • #156,869
  • Jan 29, 2009 3:02pm Jan 29, 2009 3:02pm
Quoting malcolmb14
something not right with GU...

eu tanking , usdchf ripping up ... gu going opposite to both .. maybe Soros plan is working ... now all we got to do is figure out where his boys have placed thier sell orders .... lol

Attachment
lol, could be.. but

Jim Rogers, his bus. partner is heavily SHORT on POUND.. so that statement from Mr Soros is more likely political, attending DAVOS meeting!

just my 2.5 cents
  • #156,870
  • Jan 29, 2009 3:03pm Jan 29, 2009 3:03pm
I think it's just a matter of time before we move higher. The 15M 50ema has been holding very well so if you're short, your target isn't very far. To the upside, 129.30 is a very strong resistance because it's used to be a very strong support. I think we may consolidate here to end the month. Then the monthly will form a very nice pinbar, we could literally say goodbye to 118.80, at least for the next 10 years.
  • #156,871
  • Jan 29, 2009 3:05pm Jan 29, 2009 3:05pm
Quoting Piters
lol, could be.. but

Jim Rogers, his bus. partner is heavily SHORT on POUND.. so that statement from Mr Soros is more likely political, attending DAVOS meeting!

just my 2.5 cents
When did Rogers do this? He said earlier in the week that he was holding no more Sterling and that at some stage he may short sell it.

Has he shorted it since?
  • #156,872
  • Jan 29, 2009 3:11pm Jan 29, 2009 3:11pm
Quoting Pipsqueak
I think it's just a matter of time before we move higher. The 15M 50ema has been holding very well so if you're short, your target isn't very far. To the upside, 129.30 is a very strong resistance because it's used to be a very strong support. I think we may consolidate here to end the month. Then the monthly will form a very nice pinbar, we could literally say goodbye to 118.80, at least for the next 10 years.
10 years ... damn i barely think more than 30 minutes a head with the beast
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  • #156,873
  • Jan 29, 2009 3:12pm Jan 29, 2009 3:12pm
Quoting Pipsqueak
I think it's just a matter of time before we move higher. The 15M 50ema has been holding very well so if you're short, your target isn't very far. To the upside, 129.30 is a very strong resistance because it's used to be a very strong support. I think we may consolidate here to end the month. Then the monthly will form a very nice pinbar, we could literally say goodbye to 118.80, at least for the next 10 years.

I am with you on this. I see consolodation between 129.30 and 126.50 for today, then a gap up over the weekend, maybe even above 129.30 to suck in buyers then a massive dump next week.

The market is ripe for the picking, the levels look right, they have been setting this up all week. Then again I could be wrong and about to get run over by a bull.
{Some Profound Statement goes here}
  • #156,874
  • Jan 29, 2009 3:17pm Jan 29, 2009 3:17pm
Quoting ukdaytrader
When did Rogers do this? He said earlier in the week that he was holding no more Sterling and that at some stage he may short sell it.

Has he shorted it since?
Quote
So does everyone hold this view? His old trading partner that founded the Quantum Fund with him, Jim Rogers, doesn’t seem to agree. He is very opinionated on the pound. In fact, on January 20th he came out and boldly claimed that the pound was finished and that it should drop to parity with the dollar (in other words GBP/USD would equal 1.00). The pound is currently at 1.4329 as of this writing

http://www.mywealth.com/blog/post/ge...ner-jim-rogers

NOW.. Dow is down for -227, we are facing a strong resistance line on daily, couldnt cross that in NY.

I am talking here

 

  1. short term, im sure 80% that we should drop in asia, to retest that 127-126 level at least..

  1. MID term, we have to watch that Upper TL on daily, if we bounce again, then we are crossing GANN 4h to downside..

  1. Long term.. is down as well., target near 100.. so Let''s play,

  • #156,875
  • Jan 29, 2009 3:21pm Jan 29, 2009 3:21pm
So does everyone hold this view? His old trading partner that founded the Quantum Fund with him, Jim Rogers, doesn’t seem to agree. He is very opinionated on the pound. In fact, on January 20th he came out and boldly claimed that the pound was finished and that it should drop to parity with the dollar (in other words GBP/USD would equal 1.00). The pound is currently at 1.4329 as of this writing

OK, this is what I saw. He didn't say he was short the Pound only that he may at some stage in the future.
  • #156,876
  • Jan 29, 2009 3:23pm Jan 29, 2009 3:23pm
yeah baby..still got my longs...still a bull...

short term..retrace probably in asia to 125 -126 level..then we see what happens.....

seeing its the last day of the month...i will take nothing for granted..so i'm looking forward to the shakes..baby
  • #156,877
  • Jan 29, 2009 3:31pm Jan 29, 2009 3:31pm
GBP/USD is on the edge
  • #156,878
  • Jan 29, 2009 3:41pm Jan 29, 2009 3:41pm
it's ME that i'm on the edge. how long will this charade keep climbing...
start selling already mister big shark

Quoting fxinthesun
GBP/USD is on the edge
Nihil Sine Deo.
  • #156,879
  • Jan 29, 2009 3:45pm Jan 29, 2009 3:45pm
he just claims to be short. would you trust him?

Quoting Piters
lol, could be.. but

Jim Rogers, his bus. partner is heavily SHORT on POUND.. so that statement from Mr Soros is more likely political, attending DAVOS meeting!

just my 2.5 cents
Nihil Sine Deo.
  • #156,880
  • Jan 29, 2009 3:49pm Jan 29, 2009 3:49pm
i was thinking if we see it below 126.50... then it should drop for a retest of the absolute lows. or even lower. 100, 90, -6.xx (yeah, remember my chart with negative fib levels?)... who knows.

Quoting Piters
I am talking here

  1. short term, im sure 80% that we should drop in asia, to retest that 127-126 level at least..

  1. MID term, we have to watch that Upper TL on daily, if we bounce again, then we are crossing GANN 4h to downside..

  1. Long term.. is down as well., target near 100.. so Let''s play,

Nihil Sine Deo.
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