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

  • #179,541
  • May 27, 2009 5:23am May 27, 2009 5:23am
Quoting azibi
Was actually referring to cable sorry and yes at 250 the UK economy wasn't (known) that bad as it is now and besides there was a much bigger interest rate differential between the two.
Yes, but by that token the Japanese economy was in a worse state in 2007 than it is now. That doesn't compute.

Fundamentals did not drive the move in GY from 251 to 118, sentiment did. The same sentiment which is driving the price higher now.
  • #179,542
  • May 27, 2009 5:23am May 27, 2009 5:23am
Quoting sachin_syd
Hi

Can you explain a bit more on using this. I copied it to indicator folder but my platform started freezing
thanks

Sachin
It shows when there is a break out , but you have to wait for the candle to close and you open the position on the second dot .it also shows where u should put your stoplost.
Try this one and compaile it.
Attached File(s)
File Type: mq4 TOPTREND.mq4   6 KB | 348 downloads
  • #179,543
  • May 27, 2009 5:36am May 27, 2009 5:36am
The tough PA trying to break out may mean it will really take off once a direction is confirmed.
History is written by the victors.
  • #179,544
  • May 27, 2009 5:55am May 27, 2009 5:55am
Thomas Paine has some very good points.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #179,545
  • May 27, 2009 6:00am May 27, 2009 6:00am
Quoting Vanhook2
Thomas Paine has some very good points.
Attached Image
  • #179,546
  • May 27, 2009 6:11am May 27, 2009 6:11am
Quoting Big Bruv
keep it simple...

we break 151.50...we continue up baby

if not then there a risk we go the LTL (ascending line on the daily)

we are currently ranging with an ascending triangle (daily)
morning pips...dat 151.50 has finally been broken...we probably test it at some point today..baby...

watch out for the 151.50/70 zone......if it holds..then hold on to your hats....

Happy Pippin

see blog for updates
  • #179,547
  • May 27, 2009 6:28am May 27, 2009 6:28am
Although there is signs of big bears wanting to step in from a weekly insight but I'm still kind of expecting 156.00 to be hit before any correction down to 130.00 or any major down move resumes to 118.00 and lower.

If 156.00 (%38.2 fib) is breached then 167.00 (%50 fib) will be next target to the upside.

Based on weekly trend lines and recent weekly PA patterns I think this forecast should be logical unless the beast behaves not logically
Attached Image (click to enlarge)
Click to Enlarge Name: GJ weekly.jpg Size: 121 KB
Discipline + Patience - Fear - Greed = Success
  • #179,548
  • May 27, 2009 6:35am May 27, 2009 6:35am
Quoting arezab
Although there is signs of big bears wanting to step in from a weekly insight but I'm still kind of expecting 156.00 to be hit before any correction down to 130.00 or any major down move resumes to 118.00 and lower.

If 156.00 (%38.2 fib) is breached then 167.00 (%50 fib) will be next target to the upside.

Based on weekly trend lines and recent weekly PA patterns I think this forecast should be logical...
Nice chart/analysis! This is one illogical beast though
  • #179,549
  • May 27, 2009 6:53am May 27, 2009 6:53am
One thing to watch out for is EURGBP - gy is held up this morning by eg's move lower, any turnaround here and bad economic news can send gy down fast.
  • #179,550
  • May 27, 2009 6:57am May 27, 2009 6:57am
Quoting ukdaytrader
I know some were calling distribution yesterday at 151.5, but I couldn't see it on pretty low volumes. I still see little real sign of professional selling, every dip is being bought and the volumes are not extraordinary yet. If anything, I'm seeing accumulation.

My best guess is we'll see a rapid buy on high volume before the pro sellers get interested. Today looks ripe for such a move. Watch out shorting this now.

***Can someone PM me with details on how to post charts please. Thanks***
bro,have you been reading you 12'' upside down...
Imanuel Parsifal
  • #179,551
  • May 27, 2009 7:03am May 27, 2009 7:03am
Quoting currencyexch
How does anyone see 140.00 let alone 135.00 when the daily shows 145.00 as support. With the USD and Yen in the tank with all there debt I'm not sure I see the GBP going into the dump

how about the gbp lost its AAA rating already ... the USDS did not .

from a fundies standpoint all this is going to do is cost the Uk more to get debt , devaluing the gbp . I am not sure why 1.6 unless this is a last push up before a drop


Just trade the charts and you cannot go wrong , losing AAA rating is massive GBP should be -2000 pips by now from where it was last week if you look at the UK fundies
Blogging daily now at www.volume.zone
  • #179,552
  • May 27, 2009 7:13am May 27, 2009 7:13am
Quoting malcolmb14
how about the gbp lost its AAA rating already ... the USDS did not .

from a fundies standpoint all this is going to do is cost the Uk more to get debt , devaluing the gbp . I am not sure why 1.6 unless this is a last push up before a drop


Just trade the charts and you cannot go wrong , losing AAA rating is massive GBP should be -2000 pips by now from where it was last week if you look at the UK fundies

No rating cut yet.
S&P merely downgraded their economic outlook from Normal to Negative, but still AAA; as are the other ratings agencies.
  • #179,553
  • May 27, 2009 7:14am May 27, 2009 7:14am
Quoting malcolmb14
how about the gbp lost its AAA rating already ... the USDS did not .

from a fundies standpoint all this is going to do is cost the Uk more to get debt , devaluing the gbp . I am not sure why 1.6 unless this is a last push up before a drop


Just trade the charts and you cannot go wrong , losing AAA rating is massive GBP should be -2000 pips by now from where it was last week if you look at the UK fundies
looks like you stopped smoking that crack of your's,and started targeting 118below...
Imanuel Parsifal
  • #179,554
  • May 27, 2009 7:16am May 27, 2009 7:16am
Quoting ukdaytrader
Yes, but by that token the Japanese economy was in a worse state in 2007 than it is now. That doesn't compute.

Fundamentals did not drive the move in GY from 251 to 118, sentiment did. The same sentiment which is driving the price higher now.
long term it's always fundamentals that play a role. The drop had all to do with decreasing interest rate differential and negative sentiment as the UK economy collapsed. UK bonds are now rated same as Latin-European countries.......(or they soon will be)
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  • #179,555
  • May 27, 2009 7:16am May 27, 2009 7:16am
Quoting ukdaytrader
No rating cut yet.
S&P merely downgraded their economic outlook from Normal to Negative, but still AAA; as are the other ratings agencies.
bro,no one is agains your country,just face the fact and dont loose money defending your currency...
Imanuel Parsifal
  • #179,556
  • May 27, 2009 7:17am May 27, 2009 7:17am
Quoting sycho
bro,have you been reading you 12'' upside down...

he is right buying has been on dips ... the signs of distribution that were there last week have gone. In fact on 60 min last 2 days all higher volume bars have been on up bars in up trends

ES is being bought on every dip .....


would not be surprised to see good home sales this morning and gj test 153 and beyond....market is really being cooked thee days
Blogging daily now at www.volume.zone
  • #179,557
  • May 27, 2009 7:18am May 27, 2009 7:18am
Quoting malcolmb14
how about the gbp lost its AAA rating already ... the USDS did not .

from a fundies standpoint all this is going to do is cost the Uk more to get debt , devaluing the gbp . I am not sure why 1.6 unless this is a last push up before a drop


Just trade the charts and you cannot go wrong , losing AAA rating is massive GBP should be -2000 pips by now from where it was last week if you look at the UK fundies
We should be seeing huge gbp weekness but i think until we hit a good TP for the pro's at around 155 they will keep this thing moving up. im scalping as normal as nothing is clear right now
  • #179,558
  • May 27, 2009 7:18am May 27, 2009 7:18am
Quoting sycho
looks like you stopped smoking that crack of your's,and started targeting 118below...

lol nope still on the crack .....

I said gbp should have been 2000 pips lower instead they are pushing it higher and higher. Really odd.
Blogging daily now at www.volume.zone
  • #179,559
  • May 27, 2009 7:18am May 27, 2009 7:18am
can somebody tell me what does it mean AAA rating
  • #179,560
  • May 27, 2009 7:20am May 27, 2009 7:20am
Quoting sometospend
can somebody tell me what does it mean AAA rating

it is credit rating .

AAA you are good for credit and can pay all debts back ..everyone will lend you money on lower interest rates

AA ..... credit not so good only few lenders will lend you money and liekly you will not get as good an interest rate ... this is what GBP has been reduced to
Blogging daily now at www.volume.zone
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