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

  • #167,001
  • Mar 23, 2009 8:28pm Mar 23, 2009 8:28pm
What do you think about 143.98? If it breaks, it shoot up to 145? If not, it might retrace back? Please advise. Thanks.
  • #167,002
  • Mar 23, 2009 8:29pm Mar 23, 2009 8:29pm
Quoting Ferick
So what are you saying? We just broke major resistance and went up up by 200 over it. This looks like a big break on my book regardless of what the volume is.

Do you have a target?

lol .. I am saying who the hell is buying ? last 60 min volume is low to say least ....

not saying it is but ever heard of bull trap ... the move in dj today sure looked like one.


lets see .... DJ moves up 8% and gj cannot break 141.7 .... then during low volume times we get break out. ... do you not think that is odd ?

target on this move has to be 145 and could go to 148 but as i said it all looks a bit suspicious to me
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  • #167,003
  • Mar 23, 2009 8:29pm Mar 23, 2009 8:29pm
Quoting Ferick
So what are you saying? We just broke major resistance and went up up by 200 over it. This looks like a big break on my book regardless of what the volume is.

Do you have a target?
It doesn't matter whether or not major resistance was broken, if the pro money is not interested then its not going to last.
  • #167,004
  • Mar 23, 2009 8:31pm Mar 23, 2009 8:31pm
DOWN this thing as soon as possible!
ROBOT FOREX
  • #167,005
  • Mar 23, 2009 8:32pm Mar 23, 2009 8:32pm
Got to drinkin with friends......came back and all hell broke loose......just a watchin the action. Time of day does seem a little suspect. Volume does seem a little suspect. Looks like FOMC news day, which looks a little suspect.....

What goes up this fast, usually comes back down this fast........

Sometimes. Which is suspect. Traders always suspect big moves.
  • #167,006
  • Mar 23, 2009 8:32pm Mar 23, 2009 8:32pm
it might high for now. here with expansions, if drawn rightly..
it's possible 148 this week, doesn't it?
just imho, imho
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  • #167,007
  • Mar 23, 2009 8:39pm Mar 23, 2009 8:39pm
I see much pain, for the bears who plan on stepping in front of this, didnt take much of a push to breakout did it. soon the herd will come, then the momentum, then 3 4 handles in a twinkle of an eye.

There seems to be much confusion of this concept of volume.
"Millionaires don't use astrology, billionaires do"
  • #167,008
  • Mar 23, 2009 8:40pm Mar 23, 2009 8:40pm
From Daily it already hit R3=143.75 and may seen reverse back to at least R1=141.86 before run to 145 level..

Am taking short atm from 143.65 with my first TP was R2=142.65 then second target was 141.65...

Mal..what' your talk....M30/H1 almost tell us whats going on..

Anyway just my 25sen and see what happen...
  • #167,009
  • Mar 23, 2009 8:43pm Mar 23, 2009 8:43pm
Quoting OrionsWay
I see much pain, for the bears who plan on stepping in front of this, didnt take much of a push to breakout did it. soon the herd will come, then the momentum, then 3 4 handles in a twinkle of an eye.

There seems to be much confusion of this concept of volume.
+1

this beast is going to test for higher highs IMO

time will tell, although I wouldn't like to be a bear right now
  • #167,010
  • Mar 23, 2009 8:46pm Mar 23, 2009 8:46pm
Hey malc, if market makers are manipulating price for mark-up, wouldn't they hide volume to cover their tracks, or do they even trade when changing price, no volume, just drag the price slider on the computer?
  • #167,011
  • Mar 23, 2009 8:47pm Mar 23, 2009 8:47pm
Quoting malcolmb14
lol .. I am saying who the hell is buying ? last 60 min volume is low to say least ....

not saying it is but ever heard of bull trap ... the move in dj today sure looked like one.


lets see .... DJ moves up 8% and gj cannot break 141.7 .... then during low volume times we get break out. ... do you not think that is odd ?

target on this move has to be 145 and could go to 148 but as i said it all looks a bit suspicious to me

Well, yes I agree with you there as far as the 141.7 figure. I think it had to do with the fact that JPY/USD and GBP/USD were facing some resistance.

You have to keep in mind that when this pair gets pulled up (or down) by the above mentioned pairs, orders are sometimes removed from the market making the volume lighter then normal. This was the case today....I think.


I think I will set my target at 144.80.
  • #167,012
  • Mar 23, 2009 8:49pm Mar 23, 2009 8:49pm
Quoting Eulogy
It doesn't matter whether or not major resistance was broken, if the pro money is not interested then its not going to last.
Well I don't know about that. Major resistance never gets broken by the likes me and you.
  • #167,013
  • Mar 23, 2009 8:53pm Mar 23, 2009 8:53pm
no buyers, no sellers, but keeps moving up, might as well enjoy the ride and look to short with the pros
  • #167,014
  • Mar 23, 2009 8:54pm Mar 23, 2009 8:54pm
Quoting Ferick
Well I don't know about that. Major resistance never gets broken by the likes me and you.
who said it was broken by the retailers, they're just coattailing on the move. The 141.7 handle could have simply been marked-over. It sure looked like it on my feed. One second it was on 141.6, then next it shot up to 141.95. Stalled for about 40 seconds then moved to 142.5 in the next 2 mins.
  • #167,015
  • Mar 23, 2009 9:03pm Mar 23, 2009 9:03pm
wow, did not expect this to be broken during asia.
was waiting for a pull back. missed the entry. thought it was a fake out. bumed out now. lol
  • #167,016
  • Mar 23, 2009 9:04pm Mar 23, 2009 9:04pm
Quoting Eulogy
who said it was broken by the retailers, they're just coattailing on the move. The 141.7 handle could have simply been marked-over. It sure looked like it on my feed. One second it was on 141.6, then next it shot up to 141.95. Stalled for about 40 seconds then moved to 142.5 in the next 2 mins.
I think I will trade what is actually happening rather then ponder a possible conspiracy. There is no reason right now whatsoever to believe this pair will head south in a major way. Hopes, wishes, maybe; but no rational reasons.

One advice to newbees: Never try to rationalize your bias. Been there and done that and got burned many times. Trade what you see!
  • #167,017
  • Mar 23, 2009 9:09pm Mar 23, 2009 9:09pm
As long as its above the 5M 21EMA, i'm holding this long
  • #167,018
  • Mar 23, 2009 9:09pm Mar 23, 2009 9:09pm
pls send the graph which represent yr view.
also on what basis u say that it will go down up to 141.65 or near to 142 level from CMP of 143.75
  • #167,019
  • Mar 23, 2009 9:14pm Mar 23, 2009 9:14pm
i think i'm going to wait for london.. may be gj will clear itself,
And i think i'll buy GU to 1.4840, due to its 4hr bullish flag which fly is not finished..
quite brave statement but thats after london starts
  • #167,020
  • Mar 23, 2009 9:14pm Mar 23, 2009 9:14pm
I'm thinking the rally in gbp/yen is being driven by the Asian session (w/lighter volume) b/c they know all of this talk of a Japanese stimulus package by the Jpn Finance Minister that may approach $210billion (nobody really knows how big) is potentially inflationary for the JPY. They evidently know more details on the size and nature of the 'stimulus' and are positioning as we speak..

148 by 4/15 , I'm hoping for nice-n-easy trending higher as opposed to straight up.
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