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

  • #161,741
  • Feb 22, 2009 6:43pm Feb 22, 2009 6:43pm
Quoting quecee5
no problem bro it's ripping higher as I write. Might see 1.31/1.32 before London session at this rate -
I'm hoping for a tweezer in 17 min to open a large short order with a SL at 20 pips above the tweezer.
  • #161,742
  • Feb 22, 2009 7:04pm Feb 22, 2009 7:04pm
looks like yen and dollar being sold so we should see yen crosses and EU go higher and pairs like usd/chf take a nose dive. . .

Closed other half of my GJ position for a total pip gain of 375 pips from today and last week. already up EU 300 pips - what a way to start of the week!
  • #161,743
  • Feb 22, 2009 7:07pm Feb 22, 2009 7:07pm
Quoting quecee5
looks like yen and dollar being sold so we should see yen crosses and EU go higher and pairs like usd/chf take a nose dive. . .

Closed other half of my GJ position for a total pip gain of 375 pips from today and last week. already up EU 300 pips - what a way to start of the week!
Nice!

I'm short EU at 1.2979 w/ SL at 1.2953

B
  • #161,744
  • Feb 22, 2009 7:11pm Feb 22, 2009 7:11pm
Prepare for great show IMHO

JPY index daily chart
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  • #161,745
  • Feb 22, 2009 7:12pm Feb 22, 2009 7:12pm
Quoting 5ysfx
Prepare for great show IMHO

JPY index daily chart
  • #161,746
  • Feb 22, 2009 7:18pm Feb 22, 2009 7:18pm
Quoting Eulogy
was there some news event? That spike looks unnatural

Feb. 23 (Bloomberg) -- Citigroup Inc., the recipient of $45 billion in U.S. government aid, is in talks with federal officials that may increase state ownership of the bank, the Wall Street Journal said.

The government may end up holding as much as 40 percent of Citigroup’s common stock, the newspaper said, citing people familiar with the situation it didn’t identify.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #161,747
  • Feb 22, 2009 7:20pm Feb 22, 2009 7:20pm
Quoting quecee5
if so this means our big bad beast is going down too.
U know which pair i meant
  • #161,748
  • Feb 22, 2009 7:20pm Feb 22, 2009 7:20pm
Quoting bigcoupe
Nice!

I'm short EU at 1.2979 w/ SL at 1.2953

B
Good luck on that short bro - nice short-term play. . . the market is short EU all the way from 1.47 so I see a lot of short covering once 1.3093 is taken out. I also see a short-term bottom in EU for now with room on the daily & weekly chart to move much much higher 1.33 at a minimum and 1.36/37/38 on an implulse move up. . . Price is basing each 100-150 pips up gaining more and more support on the way up.

however, it might be a nice short play back down to 1.284/76 area short-term but it is gaining momentum to the upside to clear out shorts above medium term IMHO!

Right now is has a classic bullish wolf wave on the daily that may not end until at least 1.36/1.38 area. . . I'll be adding longs on dip support areas -
  • #161,749
  • Feb 22, 2009 7:26pm Feb 22, 2009 7:26pm
Quoting 5ysfx
if so this means our big bad beast is going down too.
U will be knew which pair i meant
not if yen is being sold. . . if yen is sold off yen crossed will go wayyyyyyyyy up. . . JMHO!

I'm out of GJ shorts looking to short higher at 141 area - this will complete that inverse h&s pattern on the daily chart neck line at 141. . .

don't forget that this week is month end so fundies will be looking to take price higher and sell at higher prices this week - maybe!
  • #161,750
  • Feb 22, 2009 7:27pm Feb 22, 2009 7:27pm
Quoting DMA Trader
Feb. 23 (Bloomberg) -- Citigroup Inc., the recipient of $45 billion in U.S. government aid, is in talks with federal officials that may increase state ownership of the bank, the Wall Street Journal said.

The government may end up holding as much as 40 percent of Citigroup’s common stock, the newspaper said, citing people familiar with the situation it didn’t identify.
40% ROFL. the US already owns over 100% of the company on face value of the preference shares upon immediate redemption. In fact if you were going on just capital injected + asset guarantees against market cap, they own over 2000% of the company.
  • #161,751
  • Feb 22, 2009 7:30pm Feb 22, 2009 7:30pm
Quoting quecee5
not if yen is being sold. . . if yen is sold off yen crossed will go wayyyyyyyyy up. . . JMHO!

I'm out of GJ shorts looking to short higher at 141 area - this will complete that inverse h&s pattern on the daily chart neck line at 141. . .

don't forget that this week is month end so fundies will be looking to take price higher and sell at higher prices this week - maybe!
Wrong answer

keep tryin...
  • #161,752
  • Feb 22, 2009 7:35pm Feb 22, 2009 7:35pm
Quoting 5ysfx
Wrong answer

keep tryin...
don't let the bulls get'cha =
  • #161,753
  • Feb 22, 2009 7:43pm Feb 22, 2009 7:43pm
Quoting quecee5
don't let the bulls get'cha =
Yeah sh&t happens sometimes
  • #161,754
  • Feb 22, 2009 7:55pm Feb 22, 2009 7:55pm
Quoting quecee5
not if yen is being sold. . . if yen is sold off yen crossed will go wayyyyyyyyy up. . . JMHO!

I'm out of GJ shorts looking to short higher at 141 area - this will complete that inverse h&s pattern on the daily chart neck line at 141. . .

don't forget that this week is month end so fundies will be looking to take price higher and sell at higher prices this week - maybe!
Hey Que
I'm not sure where you are seeing the inverse shampoo with neckline 141.
The inverse shampoo i'm staring at seems to have completed the pattern right on the neckline at 136.
Attached Image
  • #161,755
  • Feb 22, 2009 8:03pm Feb 22, 2009 8:03pm
Quoting Eulogy
Hey Que
I'm not sure where you are seeing the inverse shampoo with neckline 141.
The inverse shampoo i'm staring at seems to have completed the pattern right on the neckline at 136.
how bout this?
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  • #161,756
  • Feb 22, 2009 8:10pm Feb 22, 2009 8:10pm
Quoting quecee5
how bout this?
but that top blue line isn't so much a neckline target as an "elbow-line". It would be the target if it breaks the 136 neckline but for the moment that level is holding quite strongly.
  • #161,757
  • Feb 22, 2009 8:17pm Feb 22, 2009 8:17pm
everything tells me that we are going to test 140 level tomorrow
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  • #161,758
  • Feb 22, 2009 8:42pm Feb 22, 2009 8:42pm
Cable is also ready to switch channel
This will be 4th attempt to break ema50
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  • #161,759
  • Feb 22, 2009 9:04pm Feb 22, 2009 9:04pm
Quoting cancunkev
135.20 resistance line from friday still strong....

We will break it !
  • #161,760
  • Feb 22, 2009 9:05pm Feb 22, 2009 9:05pm
Quoting Eulogy
but that top blue line isn't so much a neckline target as an "elbow-line". It would be the target if it breaks the 136 neckline but for the moment that level is holding quite strongly.

i guess we will find out this week how this plays out. . . look at 1hr & 4hr chart GJ has been basing ar'd the 133-134.50 for several hrs and looks like price wants to go higher. . .. so if 137 is taken out next logical target is 140-141 where there will be a double top on the daily unless it breaks higher to 148.

JMHO - right now too risky to take the trade cause price could also get rejected and break lower to 129 -126 area as well. . . could go either way.
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