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

  • #162,501
  • Feb 26, 2009 9:53am Feb 26, 2009 9:53am
Quoting marcb
Hi Piters,
sorry for asking something different from GJ, but I would like your opinion on CHFJPY.
On 1hr there is a diamond that's been broken to the upside.
I am long on this.
What do you think it could be a potential target?
Thanks!
Marc
Im not Piters, but i work with diamonds for some time now. 100 pips belong to the diamond target, so lock them in if you get a chance. Also you might get a chance to ride her up to 86 (dayly TL). Maybe a little chance but still worth trying lol
  • #162,502
  • Feb 26, 2009 10:05am Feb 26, 2009 10:05am
Quoting Piters
That's clear .. GY is correlated with YEN futures.. all Ny session YEn was the weakest currency across.

But my question is: What correlation is between ES and:

  1. Unemployment Claims -667K
  2. Durable Goods Orders m/m -5.2%
  3. New Home Sales -309K

BS correlation ??

hey numbers are bad ... but not that bad ....lol

unemployment claims -6 mil es may have moved down ...lol
Blogging daily now at www.volume.zone
  • #162,503
  • Feb 26, 2009 10:06am Feb 26, 2009 10:06am
Quoting Flem26
true.
ES is facing a resistance in a form Double top and 50 ema [4h]... with a bad market data, we are maybe seeing all from the bulls move.

that is dragging GY down.. just check lately when ES touches 50 ema on 4h
  • #162,504
  • Feb 26, 2009 10:08am Feb 26, 2009 10:08am
Quoting ukdaytrader
OK, now we see a rise to previous high, double top is a possibiity, but I won't be trading it. This move is strong and I think we'll now race to 143.

Still holding long.

top was for selling ....

there was a no demand bar on 5 min right at 141.50
Blogging daily now at www.volume.zone
  • #162,505
  • Feb 26, 2009 10:13am Feb 26, 2009 10:13am
Quoting malcolmb14
top was for selling ....

there was a no demand bar on 5 min right at 141.50
Not an abundance of sellers either.....

No indication of ES or Dow tankage yet...

I guess we'll see what the market has in store for us.
  • #162,506
  • Feb 26, 2009 10:17am Feb 26, 2009 10:17am
I had a long position this morning at 139.82 from an entry order that was activated while I was sleeping. When I woke up it had been at -40 for a while, so when it got to -14 I closed it.

Then after it broke through 140 I went long again at 140.32 and set TP at 141.50 and after I was at +30 I moved SL to +3 and it was eventually triggered.

About 20 minutes ago I went long at 141.09 and after it bounced off 141.56 which was the high from Dec. last (year I believe) I took profit at 141.478.

So that's probably it for me today, I'll just leave it a +26.

My problem right now is I let my emotions get the best of me. I believe it's mostly a psychological factor rather than a technical factor.
On a journey to consistency.
  • #162,507
  • Feb 26, 2009 10:20am Feb 26, 2009 10:20am
Will it be a double top or a breakout? UJ "could" be running out of steam as it is approaching the daily 50% at 99 but I wouldn't count on it. Anyways, GJ could close this week very bullish just like UJ did last week and look what UJ does this week. If GJ closed this week above 139, it would close above the weekly gann with qqe crossed up. I'm afraid to envision what a bullish GJ week would look like. Anyways, buy any dips because once GJ breaks out, it may just shoot up with very little retrace like UJ did this week.
  • #162,508
  • Feb 26, 2009 10:24am Feb 26, 2009 10:24am
Quoting Tataocb
I had a long position this morning at 139.82 from an entry order that was activated while I was sleeping. When I woke up it had been at -40 for a while, so when it got to -14 I closed it.

Then after it broke through 140 I went long again at 140.32 and set TP at 141.50 and after I was at +30 I moved SL to +3 and it was eventually triggered.

About 20 minutes ago I went long at 141.09 and after it bounced off 141.56 which was the high from Dec. last (year I believe) I took profit at 141.478.

So that's probably it for me today, I'll just leave...
Good trading mate.
There will be other opportunities. You had a + day, many others didn't.
  • #162,509
  • Feb 26, 2009 10:32am Feb 26, 2009 10:32am
Thanks ukdaytrader.

If it breaks 142.00, do you think we will see a retrace before price continues to climb?
On a journey to consistency.
  • #162,510
  • Feb 26, 2009 10:33am Feb 26, 2009 10:33am
I see market is firm to break 141.70 ..

If this happens then first target 143.30 (Fibo expansion 100 which coincides with Fibo extension %138.2) and then 144.30 which is Fibo extension %161.8 as second target will be expected.

This is from a pure Fibonacci point of view
Discipline + Patience - Fear - Greed = Success
  • #162,511
  • Feb 26, 2009 10:38am Feb 26, 2009 10:38am
hello people hope you having a good day...

off topic..baby...but looks like USD/CAD is about to plummet to the oblivion....
  • #162,512
  • Feb 26, 2009 10:39am Feb 26, 2009 10:39am
Quoting arezab
I see market is firm to break 141.70 ..

If this happens then first target 143.30 (Fibo expansion 100 which coincides with Fibo extension %138.2) and then 144.30 which is Fibo extension %161.8 as second target will be expected.

This is from a pure Fibonacci point of view
Perfect bullish channel
  • #162,513
  • Feb 26, 2009 10:42am Feb 26, 2009 10:42am
these spikes by dollar yen reek of boj intervention. if it plows right through 99.50, my suspicions will be confirmed.
"Don't trade to trade . . . trade to win." - James16
  • #162,514
  • Feb 26, 2009 10:46am Feb 26, 2009 10:46am
if this bull move in geppy is for real, 149 is where it could have trouble pushing through.
"Don't trade to trade . . . trade to win." - James16
  • #162,515
  • Feb 26, 2009 10:46am Feb 26, 2009 10:46am
On Dec 1st I posted that I had several longs left with entries in the 1.49-1.54 area. Everyone thought I was crazy to hold on to them.
I said then and I say now that I will close them with profit. And it is not going to take a long time I think.

Orca
New voice message: Why are you calling me? If I need you, I'll call you!
  • #162,516
  • Feb 26, 2009 10:47am Feb 26, 2009 10:47am
Quoting Flem26
these spikes by dollar yen reek of boj intervention. if it plows right through 99.50, my suspicions will be confirmed.
I don't think it's intervention as the fundamentals support this move. The yen seem to start severely weakening ever since Japan's last quarter GDP numbers. Most people still don't realize that even though the US economy is really bad but Japan economy is much worse. If it is intervention, we'll see it on bloomberg in a few days but I highly doubt it.
  • #162,517
  • Feb 26, 2009 10:49am Feb 26, 2009 10:49am
I'll re-enter long if price close over both the 4hr 50 ema (blue line)and the day 5-sma (yellow line)
Attached Image (click to enlarge)
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  • #162,518
  • Feb 26, 2009 10:54am Feb 26, 2009 10:54am
Quoting belekas
Im not Piters, but i work with diamonds for some time now. 100 pips belong to the diamond target, so lock them in if you get a chance. Also you might get a chance to ride her up to 86 (dayly TL). Maybe a little chance but still worth trying lol
Thanks!
  • #162,519
  • Feb 26, 2009 10:58am Feb 26, 2009 10:58am
Quoting KillerWhale
On Dec 1st I posted that I had several longs left with entries in the 1.49-1.54 area. Everyone thought I was crazy to hold on to them.
I said then and I say now that I will close them with profit. And it is not going to take a long time I think.

Orca
OR, dow will break 7000, bailouts will fail, and you end up crying!
well, i hope not...
I recommend you read something else as this sentence is now concluded.
  • #162,520
  • Feb 26, 2009 11:02am Feb 26, 2009 11:02am
Quoting GodfreyH
I'll re-enter long if price close over both the 4hr 50 ema (blue line)and the day 5-sma (yellow line)
GU bounced off the 50% fib to the pip at 1.4382. Now it's ranging between the 4H 50ema and this 50% fib level. I'm not sure which way it'll break. GU is very bearish as it is still trading below the daily 50 ema but then 1.42 is acting like a brick wall support so I really don't which way it will go. I'm just waiting and hoping for GJ to retrace again and reenter long. I'm dip buying my way to riches.
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