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

  • #179,661
  • May 27, 2009 11:35pm May 27, 2009 11:35pm
If the latest symmetry holds (1100 pips up-550/600 down) it should go down from here to retest 148.00.
  • #179,662
  • May 27, 2009 11:40pm May 27, 2009 11:40pm
What is driving USD/JPY?
  • #179,663
  • May 28, 2009 12:09am May 28, 2009 12:09am
154.44 look very nice price to sell on GJ.......
  • #179,664
  • May 28, 2009 12:11am May 28, 2009 12:11am
Quoting Fusion
What is driving USD/JPY?
Many want to know also.
  • #179,665
  • May 28, 2009 12:18am May 28, 2009 12:18am
Quoting MoreYummy
Many want to know also.
What is driving GBP/JPY I thought UK's credit rating wasn't worth salr and the thing just keeps going and going. Gottas fall sometime.
  • #179,666
  • May 28, 2009 12:20am May 28, 2009 12:20am
Quoting tony_dtrader
Actually, my main focus is the pair eur/jpy , 20 pip target x 5 is my daily goal. So far Ive hit 2 targets of 20pips on the Tokyo session. 3 more to go.

But, sometimes i also shift my focus into gbpjpy only for high probability trades, cuz my fxdd broker has really nasty spread of 9pip for the pound-yen.

Yup, you read my mind, im trying to compound and building my account margin. Im focusing on turnin it to 100,000$ . Then switch to 5-10% trade size, will be happy with makin 40-80% gains a month of 100k
What size backstop are you guys using?
  • #179,667
  • May 28, 2009 12:33am May 28, 2009 12:33am
Quoting currencyexch
What is driving GBP/JPY I thought UK's credit rating wasn't worth salr and the thing just keeps going and going. Gottas fall sometime.
You don't need to ever get into the complex fundamentals of why a currency is strong/weak. How are we retail traders ever able to know why? I mentioned yesterday that we've dropped from 251 to 118. You think that entire fall was fundamental driven?

Ignore funnymentals, they are there to confuse you. Your charts say up.
  • #179,668
  • May 28, 2009 12:44am May 28, 2009 12:44am
Quoting ukdaytrader
You don't need to ever get into the complex fundamentals of why a currency is strong/weak. How are we retail traders ever able to know why? I mentioned yesterday that we've dropped from 251 to 118. You think that entire fall was fundamental driven?

Ignore funnymentals, they are there to confuse you. Your charts say up.
I fully agree with you. Because I trade primarily only using Fibonnaci I can show years back how we got here just by using that alone, not even knowing when news were to come out or why. Realistically I do believe there are pivotal moments to watch out for when "bumps" seem to occur, but then the currency continues on it's way. Remember that bump we had that was a huge down move based on pound being downgraded? Yet, here we are... There are clues if you know where to look for them.
  • #179,669
  • May 28, 2009 12:47am May 28, 2009 12:47am
Quoting currencyexch
What is driving GBP/JPY I thought UK's credit rating wasn't worth salr and the thing just keeps going and going. Gottas fall sometime.
Market sentiment has been favoring longs when this pair tested the Daily Pilot and was immediately greeted with buyers when it has bounced away from strong support at 152. Now that it has. I expect it to see 154, before any decent selling interest.

The upmove also was being powered by the USD strength against the yen and not so much against the Pound..
Learning never ends.
  • #179,670
  • May 28, 2009 12:51am May 28, 2009 12:51am
Quoting Fusion
What is driving USD/JPY?
Charts!
  • #179,671
  • May 28, 2009 12:52am May 28, 2009 12:52am
new target for 4h chart is 154.9 area.

trade safe
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  • #179,672
  • May 28, 2009 12:53am May 28, 2009 12:53am
Its Ok if one can stand on 1909 pips,
Still looking for more anyway !
What goes up comes down, so always make Forex better than u met it.
  • #179,673
  • May 28, 2009 1:05am May 28, 2009 1:05am
1. GM-OPEL potential bankruptcy filing
2. JY- led by banks and mining companies, as surging bond yields sparked
concern borrowing costs will rise
3. FED - step up asset purchases to prevent its balance sheet from
contracting until policy makers are convinced an economic
recovery has taken hold
4. North Korean Nuclear weapon testing
5. UK Tresure E70 billion warn hole in budget

And some other nice news and forecast

All this will make us

With that am looking for my final GY long target to be hit @ 38.2% weekly ~155.50 target with just set SL=153.02 from 152.02 with trailing stop of 75pips...

damm..only yesterday able to make +220 pips profit this week but far away from my weekly target after a few losses in Mon&Tues...mm..less than 8 entry till today...worsen trading from Mar 09 ...so far..just good to take a rest after this last entry to be close either SL or TP....
  • #179,674
  • May 28, 2009 1:10am May 28, 2009 1:10am
Quoting forex3e
Bingo take profit time .. run up from 14955<>15350 .. ciao
What is this ??
Discipline + Patience - Fear - Greed = Success
  • #179,675
  • May 28, 2009 1:11am May 28, 2009 1:11am
I see this on cable daily chart.
Attached Image
Discipline + Patience - Fear - Greed = Success
  • #179,676
  • May 28, 2009 2:11am May 28, 2009 2:11am
i think we have strong resistance here at 154.45 possible pull back, so those interested in buying can still long but GJ as done so well today..
Just my cant
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MY OPINION NOT FINANCIAL ADVISE
  • #179,677
  • May 28, 2009 2:14am May 28, 2009 2:14am
GU - Pin bar at Daily. DROP
EU - Drop

GJ - confuse
  • #179,678
  • May 28, 2009 2:40am May 28, 2009 2:40am
Just miss my short target GU 1.5840. Jason Bull friday the 13th know my targets .
  • #179,679
  • May 28, 2009 2:44am May 28, 2009 2:44am
Quoting PandoraBox
GU - Pin bar at Daily. DROP
EU - Drop

GJ - confuse
which fuse ?
  • #179,680
  • May 28, 2009 2:44am May 28, 2009 2:44am
German/EUR impact Unemp. news due in 10 min, & in 2hr GB's CBI Sales is due, & classed as high impact. Some key US data is due @ their mkt open, then GB evening "Reflections on the Financial Crisis" speech at the Cass Business School, in London" is to be given by Weber, and then 15hrs away JPY releases key monthly data. I think we should fasten our seatbelts for the GY ride.
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