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

  • #161,061
  • Feb 17, 2009 7:20pm Feb 17, 2009 7:20pm
short 131.45

SL 132.45

TP 129.45

* Risk Trade
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No Magic, Just basic fundamental chart analysis
  • #161,062
  • Feb 17, 2009 7:30pm Feb 17, 2009 7:30pm
Quoting NathanSim
short 131.45

SL 132.45

TP 129.45

* Risk Trade
I have no clue why you would have your target @ 129.45. Please explain?
129.75 would make more sense to me.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #161,063
  • Feb 17, 2009 7:41pm Feb 17, 2009 7:41pm
Quoting KillerWhale
I have no clue why you would have your target @ 129.45. Please explain?
129.75 would make more sense to me.

Orca
S1=130.52 is more meaningful to me....
next level will be S2=129.60 then S3=128.64

Untill london time 130.52 is meaningfull to me...before next move to 132 level back in US time
  • #161,064
  • Feb 17, 2009 8:08pm Feb 17, 2009 8:08pm
Pound is poised to go up, with equities at this point, it can just benefit of a new wage of optimism and risk aversion

that shall come sooner than many expect...and also looks like the japanese currency is running out of fuel

I see much more upside than downside in this pair
  • #161,065
  • Feb 17, 2009 8:11pm Feb 17, 2009 8:11pm
Quoting fammira
Pound is poised to go up, with equities at this point, it can just benefit of a new wage of optimism and risk aversion

that shall come sooner than many expect...and also looks like the japanese currency is running out of fuel

I see much more upside than downside in this pair
WHAAAAAA??????
  • #161,066
  • Feb 17, 2009 8:18pm Feb 17, 2009 8:18pm
I believe we are very close to the bottom in equities, since I notice every one is more pessimist than ever
  • #161,067
  • Feb 17, 2009 8:20pm Feb 17, 2009 8:20pm
Quoting fammira
Pound is poised to go up, with equities at this point, it can just benefit of a new wage of optimism and risk aversion

that shall come sooner than many expect...and also looks like the japanese currency is running out of fuel

I see much more upside than downside in this pair
why do u see such optimism in gbp? the number posted yesterday beg to differ they are in worst shape than US - JUST CURIOUS?

Although price may incline in the short-term GBP is poised to go lower sooner than latter as indicated by the bearish H&S on both GU adn GJ chart. . . GU pointing at 1.37/35 and GJ at 125/116

http://www.actionforex.com/fundament...2009021779086/

UK Consumer Prices Cool to 3%

UK consumer prices cooled to an annual rate of 3% in January, which was higher than forecast, but is still the lowest level in the last 9 months. The fall in prices was led by lower fuel and housing costs. Prices for food and drinks were also down. In monthly terms, prices were down 0.7% which was a bigger drop than the 0.4% seen in December, which could signal an acceleration of price declines. The annual core reading however increased on the month to 1.3%, which means volatile items were a major contributor to the overall decline.
  • #161,068
  • Feb 17, 2009 8:23pm Feb 17, 2009 8:23pm
Quoting fammira
I believe we are very close to the bottom in equities, since I notice every one is more pessimist than ever
Sorry, i wasn't asking about equity pessimism. I was just confounded by your statement of both "Optimism and risk aversion".
  • #161,069
  • Feb 17, 2009 8:28pm Feb 17, 2009 8:28pm
Quoting Eulogy
Sorry, i wasn't asking about equity pessimism. I was just confounded by your statement of both "Optimism and risk aversion".
I'm kind of bullish on GJ, thinking it may test 137s after 134 obviously. The 4hr is showing higher lows. Also US markets were down alot today, and it didn't follow, but I bet as soon as US markets go up, GJ follows. Just my opinion.

Don't hateee me

Also, I've taken a break from GJ, I can't sleep with holding it lol so I've moved to EJ since it has smaller peak to peaks and lower spread for me.
  • #161,070
  • Feb 17, 2009 8:35pm Feb 17, 2009 8:35pm
doesn't seem like much interest either way in Asain session. as a matter of fact the fixing has come and gone and price is still in a tight range resting just above the gann hi/lo on 1hr and 4hr chart for now but that could easily change.

i'm short biased and only a 4hr close above 132.40 will change my view for now.
  • #161,071
  • Feb 17, 2009 8:40pm Feb 17, 2009 8:40pm
Quoting forextine
I'm kind of bullish on GJ, thinking it may test 137s after 134 obviously. The 4hr is showing higher lows. Also US markets were down alot today, and it didn't follow, but I bet as soon as US markets go up, GJ follows. Just my opinion.

Don't hateee me

Also, I've taken a break from GJ, I can't sleep with holding it lol so I've moved to EJ since it has smaller peak to peaks and lower spread for me.
I agree, if the stock market bounces back tomorrow I see GJ going up, and no, I don't hate you.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #161,072
  • Feb 17, 2009 8:42pm Feb 17, 2009 8:42pm
Quoting Eulogy
Sorry, i wasn't asking about equity pessimism. I was just confounded by your statement of both "Optimism and risk aversion".
I am sorry, I meant risk appetite
  • #161,073
  • Feb 17, 2009 8:44pm Feb 17, 2009 8:44pm
Quoting forextine
I'm kind of bullish on GJ, thinking it may test 137s after 134 obviously. The 4hr is showing higher lows. Also US markets were down alot today, and it didn't follow, but I bet as soon as US markets go up, GJ follows. Just my opinion.

Don't hateee me

Also, I've taken a break from GJ, I can't sleep with holding it lol so I've moved to EJ since it has smaller peak to peaks and lower spread for me.
EJ does have lower spreads along with lower margin requirements, but it is slightly less volatile. That, and the fact i already have other Eur cross pairs in keeping me away from this one.

Favourite noob is still bearish on the GJ beast. This recent consolidation and ranging is very similar to the one seen last July when it kept edging higher from 192 eventually hitting 215. In the midst of hearing multiple calls of "Long GJ, its gonna rocket up to the 240s", i remember building shorts from 208 onwards saying that i would not be considering a single long until the beast had reached a minimum of 168. Even i was off the mark on that one. Look at it where it is now, and all those long pundits, i hope they enjoyed the MC.

Granted we are at much lower levels than 7-8 months ago the economic conditions have deteriorated much further with the nationalisation of the auto industry, bankruptcy of Lehmans.....etc.....

On a technical perspective, Quecee is right, that shampoo formation on both Cable and GJ have not yet completed. Do not look too much into a rally on the Dow either. That descending triangle is looking very scary. Break that and down we go to 6k.
  • #161,074
  • Edited 9:03pm Feb 17, 2009 8:51pm | Edited 9:03pm
Quoting KillerWhale
I agree, if the stock market bounces back tomorrow I see GJ going up, and no, I don't hate you.

Orca

that's a BIG "if" anything could happen in these markets overnight! market didn't seem too excited about the stimulus plan. I see another down day 2morrow and perhaps a recovery on thursday into Friday. But that's JMHO of course!

It use to be that the market looked forward to triple interest Wed. but over the last several month as interest rates have decreased that is no longer the case and many can short and hold these pairs without a lot of pain. . .

price right now looks very bearish. . .

qqe on 1hr chart is starting to roll over
macd on 1hr has dipped below the zero line indicating a trip down south sooner than later
another 1hr close here should push it further south signaling more selling pressure abeit on low volume
no buying interest in this session but could easily change.
on 4hr and daily macd and qqe are flat but is hovering around the zero crossing line and 50 line.
there is also divergence on 4hr and daily macd indicatimg selling pressure sooner rather later

i think we see a dip sooner than latter to at least daily r1 @ 130 area. we'll have to see how price reacts if/when it gets there for more confirmation.
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  • #161,075
  • Feb 17, 2009 9:08pm Feb 17, 2009 9:08pm
15 min chat for now!
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  • #161,076
  • Feb 17, 2009 9:09pm Feb 17, 2009 9:09pm
Quoting quecee5
that's a BIG "if" anything could happen in these markets overnight! market didn't seem too excited about the stimulus plan. I see another down day 2morrow and perhaps a recovery on thursday into Friday. But that's JMHO of course!

It use to be that the market looked forward to triple interest Wed. but over the last several month as interest rates have decreased that is no longer the case and many can short and hold these pairs without a lot of pain. . .

price right now looks very bearish. . .

qqe on 1hr chart is starting to roll over
macd...

I love what i see from your chart
No Magic, Just basic fundamental chart analysis
  • #161,077
  • Feb 17, 2009 9:09pm Feb 17, 2009 9:09pm
That's why I like EJ, I'm able to sleep better lol. Anyways I see what you're saying, the movement still seems very confused, very small range today, which I'm sure malcolmb enjoyed but people like me, and I think you, wouldn't have had too much fun.

Quoting Eulogy
EJ does have lower spreads along with lower margin requirements, but it is slightly less volatile. That, and the fact i already have other Eur cross pairs in keeping me away from this one.

Favourite noob is still bearish on the GJ beast. This recent consolidation and ranging is very similar to the one seen last July when it kept edging higher from 192 eventually hitting 215. In the midst of hearing multiple calls of "Long GJ, its gonna rocket up to the 240s", i remember building shorts from 208 onwards saying that i would not be considering...
  • #161,078
  • Feb 17, 2009 9:12pm Feb 17, 2009 9:12pm
Quoting quecee5
15 min chat for now!
aud/jpy is strong now
so i treat this small downtrend as bull flag
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  • #161,079
  • Feb 17, 2009 9:14pm Feb 17, 2009 9:14pm
Quoting NathanSim
I love what i see from your chart
I still contend that the spike we saw in NY session @ ar'd 132 area was selling. we saw the exact same thing at 141/137 and 134 but only time will tell and that double top seems to be holding thus far.

looking for these charts to play out sooner rather than later howerver another spike up to 132.50 area can't be ruled out.

but the fact that price has been consolidating below that area for 7 hours going into 8 hrs leads me to believe that a decline is forthcoming sooner rather than later.

just my opinion of course based on what i'm seeing in the chart so far - things can change rapidly this is the beast we're talking about -
  • #161,080
  • Feb 17, 2009 9:19pm Feb 17, 2009 9:19pm
rsx down after trending up all day ( hence buying dips on 5 min) ,

50 sma at 131 , which also ties in with todays VWAP and the new daily pivot . Break of this we could test 129.6 again

No 4 hour close under under 130 ... uptrend channel remains intact

130 is very critical

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