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

  • #177,941
  • May 18, 2009 4:43pm May 18, 2009 4:43pm
Quoting ukdaytrader
... we all have to remember just how far GY has fallen from the top. Here's a thought, now don't let it scare anyone;

GBP is undervalued, some analysts are saying as much as 20%. Let's for a moment consider this as accumulation by the large institutionals. 'Why here? you ask, the UK economy is in the gutter' etc. Well, just maybe the pros are buying this cheaply and 151 was just a sick tease for a run to 170 and beyond.

Big Bruv has said similar in his analysis, (where's he been? btw). The drop last week could simply be an opportunity...
Are you also targeting 170? I think that is a logic target for now. However, for this move to be valid, we have to see how the price action and candle formation towards 150. All higher time frames are pointing up. Just my 2 cents.
  • #177,942
  • May 18, 2009 4:49pm May 18, 2009 4:49pm
Quoting A-speculator
Are you also targeting 170? I think that is a logic target for now. However, for this move to be valid, we have to see how the price action and candle formation towards 150. All higher time frames are pointing up. Just my 2 cents.
I don't do targets. I don't see the point in trying to predict a target thousands of pips away, but I'm willing to concede that some traders are very good at it.

I do think we could race past 151 this time though.
  • #177,943
  • May 18, 2009 4:53pm May 18, 2009 4:53pm
Quoting A-speculator
Are you also targeting 170? I think that is a logic target for now. However, for this move to be valid, we have to see how the price action and candle formation towards 150. All higher time frames are pointing up. Just my 2 cents.
This thing rides in waves, let be flexible ie in your bias not in your SL

BTW congrats to RGITT for holding his grounds last night.
Since it was a holiday here and I dont trade while drinking I have no trade open at the mo.
Cheers!
  • #177,944
  • May 18, 2009 4:56pm May 18, 2009 4:56pm
Quoting ukdaytrader
I don't do targets. I don't see the point in trying to predict a target thousands of pips away, but I'm willing to concede that some traders are very good at it.

I do think we could race past 151 this time though.
Well.. you might be right. That spot has been tested 2 times already. If it fails, we might be in a range of 142-151. However, based on current movement and daily candle formation, we might stand a chance.
  • #177,945
  • May 18, 2009 4:59pm May 18, 2009 4:59pm
Quoting sycho
nope! it just got over booked and was delayed to layoff cheap passenger's...got back from lunch and could'nt acces FF anymoe,taught it was from FF..but chatted with donfriday and he sayed all was good from his end..just about to re-evaluate things and post my analysis on this suspicious move without bearing....still shorting from 150.12.Captain Sycho.
This upmove also looked suspicious to me. The weekly trend is down, we should see it lower by the end of the week .. of course anything can happen and beyond my observation
  • #177,946
  • May 18, 2009 5:01pm May 18, 2009 5:01pm
Quoting Estero
This thing rides in waves, let be flexible ie in your bias not in your SL

BTW congrats to RGITT for holding his grounds last night.
Since it was a holiday here and I dont trade while drinking I have no trade open at the mo.
Cheers!
Yap, you definitely right. It definitely rides in waves so it must pass certain checkpoint first. ahaha..
  • #177,947
  • May 18, 2009 5:03pm May 18, 2009 5:03pm
UK CPI at 830GMT, expect it will either sent gj flying higher again, or if its MUCH worse than expected will provide a nice opportunity to get in long again after the drop.

anyone still confused as to which direction the trend is, open a daily chart, draw a couple of trendlines or a channel, its pretty obvious. that trendline was broken but only for a few hours during asia. if I had shorts i would have closed them again once it got back above that trendline.

as i said before, those calling for 130 or lower must be insane, there is no fundemental or technical reason for it to go anywhere near there (unless something very unexpected happens). the drop was a normal retracement after failing the double top around 150-51. they can now mount another assult on that area ad this time im betting it smashes straight through it like a hot knife through butter.

Also on a daily, at start of today my RSX was at its lowest level (31) since we hit 118, and look what it did since 118....
  • #177,948
  • May 18, 2009 5:11pm May 18, 2009 5:11pm
Quoting mktjong
This upmove also looked suspicious to me. The weekly trend is down, we should see it lower by the end of the week .. of course anything can happen and beyond my observation
Well sir, if you are talking about the major trend (weekly) I'm afraid I have to agree with you that the major trend is down. However, you don't trade by the weekly chart, do you? So the trend that we should be focusing on the the current retracement. If you really look into it, there are no indications yet from the weekly chart but the current momentum is uptrend (this is just based on indicators). But if you look into daily, you can see candle consolidation pattern which means that the down move has exhausted.
  • #177,949
  • May 18, 2009 5:34pm May 18, 2009 5:34pm
I don't claim to be an expert on volume, but this move to the upside was not that much of a surprise for me. If the Interbank volume really is legitimate, I see selling on the daily that exhausted itself last week on the Pound and Dollar yen (market can't continue to go down without increasing volume).

Now, it looks like geppy is going up on lower volume. I am on the sidelines until the bulls and bears settle this.
"Don't trade to trade . . . trade to win." - James16
  • #177,950
  • May 18, 2009 5:35pm May 18, 2009 5:35pm
To all sellers, I think there might be a chance to cover your position(s) during asian. This is based on ONLY 1hr TF and no guarantee on this. Anyway, good luck to everyone.. Happy trading.
  • #177,951
  • May 18, 2009 5:39pm May 18, 2009 5:39pm
Quoting ukdaytrader
You been living in a cave? Bullish news on UK investment reported on Bloomies today, analysts predicting higher prices for Sterling and the Bank of Japan stating they are 'monitoring' the FX market closely.
bro i heard access to that info,b/4 u knew what it was..if you just take a moment and look at my volume thread,you will see that our target point 2day where all bullish b/4 start of market..all the way up to 147area..if you have been trading fx long enough,you will know that market does'nt tank this way,not in a recession filled one..i rest my case as i have to do some volume analysis for 2mmrrw target point's..
Imanuel Parsifal
  • #177,952
  • May 18, 2009 5:43pm May 18, 2009 5:43pm
Quoting Flem26
I don't claim to be an expert on volume, but this move to the upside was not that much of a surprise for me. If the Interbank volume really is legitimate, I see selling on the daily that exhausted itself last week on the Pound and Dollar yen (market can't continue to go down without increasing volume).

Now, it looks like geppy is going up on lower volume. I am on the sidelines until the bulls and bears settle this.
exactly bro..same thing i posted today on the volume thread..it clearly showed as we wre retracing up that there were still in bear territory but,somehow they seem to need an upmove to gain momemtum..let's see how she play's out...
Imanuel Parsifal
  • #177,953
  • May 18, 2009 5:46pm May 18, 2009 5:46pm
Quoting Estero
oh c'mon
lol! bro...am just smoking the bear's till i find a good analytical and fundamental reason to stop...may i ask!if all is getting well,y! did china stop accepting American credit card's? anybody(100pips)
Imanuel Parsifal
  • #177,954
  • May 18, 2009 5:48pm May 18, 2009 5:48pm
Dear Rgitt05,

Could you please tell us what post you posted the bb macd cct indie on,have looked back and on the attachments can't find.
Thankyou it does look interesting.
  • #177,955
  • May 18, 2009 5:54pm May 18, 2009 5:54pm
what a nasty upward, somebody stop this for a moment, i want a low, come on get me a low
Making money not by predicting just by following ...
  • #177,956
  • May 18, 2009 5:55pm May 18, 2009 5:55pm
Quoting A-speculator
Well sir, if you are talking about the major trend (weekly) I'm afraid I have to agree with you that the major trend is down. However, you don't trade by the weekly chart, do you? So the trend that we should be focusing on the the current retracement. If you really look into it, there are no indications yet from the weekly chart but the current momentum is uptrend (this is just based on indicators). But if you look into daily, you can see candle consolidation pattern which means that the down move has exhausted.
Bro u drop from the blues with your speculation's..ahhah your name tells it all..lol....
Imanuel Parsifal
  • #177,957
  • May 18, 2009 5:58pm May 18, 2009 5:58pm
Quoting gl4di4t0r
what a nasty upward, somebody stop this for a moment, i want a low, come on get me a low
I don't think anyone here can help you. Try call Buffet and Soros.
  • #177,958
  • May 18, 2009 6:03pm May 18, 2009 6:03pm
Quoting sycho
Bro u drop from the blues with your speculation's..ahhah your name tells it all..lol....
Please don't forget, you are also a speculator, forex speculator.
  • #177,959
  • May 18, 2009 6:06pm May 18, 2009 6:06pm
Quoting A-speculator
I don't think anyone here can help you. Try call Buffet and Soros.
i closed my long before, i was looking low for a long, what take this beasts with no retrace, long time not seen like this move
Making money not by predicting just by following ...
  • #177,960
  • May 18, 2009 6:07pm May 18, 2009 6:07pm
Quoting sycho
lol! bro...am just smoking the bear's till i find a good analytical and fundamental reason to stop...may i ask!if all is getting well,y! did china stop accepting American credit card's? anybody(100pips)
not saying all is well... but you got to ride the wave be flexible bro
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