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

  • #184,621
  • Jul 15, 2009 12:51pm Jul 15, 2009 12:51pm
Quoting wormboy
There's a good chance we get to 157 slykyn. Think I posted a chart here earlier .. I had a chat with malcolm early yesterday morning & we agreed the possibility of reaching 155 today. That level is now reached.
I don't know what he reckons the move next will be but I think 157 is doable.
I certainly agree with u, 157 is now in sight if the market closes very strong today. I think we just have to wait and see until then.
  • #184,622
  • Edited 1:24pm Jul 15, 2009 1:13pm | Edited 1:24pm
tried a small short from 155. Stop at 155.25
might get lucky

....or not
--post hoc ergo propter hoc--
  • #184,623
  • Jul 15, 2009 1:31pm Jul 15, 2009 1:31pm
According to my hourly chart gbp/yen is becoming very overbought here. I think a 50/80 points retracement is likely before going up further. Think I square up for the moment in order to re enter at somewhat lower levels.
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  • #184,624
  • Jul 15, 2009 1:52pm Jul 15, 2009 1:52pm
Quoting wormboy
There's a good chance we get to 157 slykyn. Think I posted a chart here earlier .. I had a chat with malcolm early yesterday morning & we agreed the possibility of reaching 155 today. That level is now reached.
I don't know what he reckons the move next will be but I think 157 is doable.
lol 200 for sure .....

i am not sure. I see a no demand bar on the ES today. The up move today was on lower vloume than last 2 days. This could be a sign of weakness. 155.20 is 61.8 % fib of the down move

The hourly studys are overbought ... and need to ocme off a bit to provide us breakout.

As you said this could got 157 and maybe even 159/160 test

JP Morgan earnings are up tomorrow. Could drive market higher

Odd how in all this market euphoria the CIT news has died a death ...lol ... only 100 year old bank , with 320,000 retailers at risk . Thye only have 1 billion in bonds maturing. I wonder if feds will throw more tax payers money at them to keep them afloat
Blogging daily now at www.volume.zone
  • #184,625
  • Jul 15, 2009 2:00pm Jul 15, 2009 2:00pm
GJ will going down anytime at H1......probably to fibo 38.2 or 50.0....good luck
  • #184,626
  • Jul 15, 2009 2:07pm Jul 15, 2009 2:07pm
Quoting malcolmb14
s/r level gj .

I am NOT shorting unless price gets under 152.3.

153 r , above that 153.7 and 155

gu up to 1.6450 maybe
all targets hit ... not sure what to do next .

i guess scalp till market works its way out. Looking at s&p today anyone would think it is going back to 1000.
Blogging daily now at www.volume.zone
  • #184,627
  • Jul 15, 2009 2:10pm Jul 15, 2009 2:10pm
Quoting malcolmb14
all targets hit ... not sure what to do next .

i guess scalp till market works its way out. Looking at s&p today anyone would think it is going back to 1000.
I would .. filling gap http://www.forexfactory.com/images/icons/icon10.gif
  • #184,628
  • Jul 15, 2009 2:29pm Jul 15, 2009 2:29pm
Quoting mktjong
I would .. filling gap http://www.forexfactory.com/images/icons/icon10.gif
bull .. as in bull trap ... lol
that is what I see , but enjoying ride.

Why do i have a feeling something major is going down about the time CIt have 1 billion in bonds expriring ? ... august 15th
Blogging daily now at www.volume.zone
  • #184,629
  • Jul 15, 2009 2:48pm Jul 15, 2009 2:48pm
Quoting malcolmb14
bull .. as in bull trap ... lol
that is what I see , but enjoying ride.

Why do i have a feeling something major is going down about the time CIt have 1 billion in bonds expriring ? ... august 15th


anyone have idea what this look like? kinda scary so thinking of closing my long but still want to wait for daily candle to close.
Malc what u think
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MY OPINION NOT FINANCIAL ADVISE
  • #184,630
  • Jul 15, 2009 2:49pm Jul 15, 2009 2:49pm
60 min here is what I got .....

157 test is next level , but would love to see some form of flag form down into 154 thru asia ...

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  • #184,631
  • Jul 15, 2009 2:54pm Jul 15, 2009 2:54pm
Quoting donfriday
anyone have idea what this look like? kinda scary so thinking of closing my long but still want to wait for daily candle to close.
Malc what u think
may get little dip ... but I am thinking more on upside.

we are above today upopper value area , I would favour some form of dip into 154 zone and see if we get buying interest there. If so we could see up move.

Not sure what GU is up to though

gu was hit hard on 60 min with sellers .... got to see what reaciton is to that in London session
Blogging daily now at www.volume.zone
  • #184,632
  • Jul 15, 2009 4:00pm Jul 15, 2009 4:00pm
Quoting ukdaytrader
Something I've just noticed. the Daily ltl from the move up from 118, (this was broken down last week), still sits at 155 which also coincides with the 50% fibo from last downmove.

A bounce/rejection off 155 is very possible.
Hi ukdaytrader. Clear charts and interesting explanation of how hidden bullish divergence is playing out

155.5 certainly looks like a strong resistance area off the daily tl and confluence of the 20 MA. I have the 61.8% fibo at 156.6 which coincides with the daily tl.

Would be good to see the daily tl tested at both levels and even better a pin bar off 156.6 for confirmation of a down move with first tp at 150.5
  • #184,633
  • Jul 15, 2009 5:08pm Jul 15, 2009 5:08pm
shorted GU based on this. small position, i'll add as it breaks TL/Gann.

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I love how the price channel and 618 coincide. I'll be heartbroken if it doesn't head south.
" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #184,634
  • Jul 15, 2009 5:30pm Jul 15, 2009 5:30pm
i also have a short on geppy at 100sma and 618.
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" If I can't be my own, I'd feel better dead" - Alice In Chains
  • #184,635
  • Jul 15, 2009 6:00pm Jul 15, 2009 6:00pm
Looks like soon it's time to buy again. In 15 min. chart it is almost at trend line. In hourly can be seen its out of overbought situation and has room for a new up thrust imho.
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  • #184,636
  • Jul 15, 2009 6:03pm Jul 15, 2009 6:03pm
what the hell was that all about?
i was thinking at least 5400 before a quick bounce. Staying short until 5520
Then next short at 5650
--post hoc ergo propter hoc--
  • #184,637
  • Jul 15, 2009 6:05pm Jul 15, 2009 6:05pm
that last hour candle is sort of interesting.
My chart has the open and the close the same.

Any thoughts?
--post hoc ergo propter hoc--
  • #184,638
  • Jul 15, 2009 6:17pm Jul 15, 2009 6:17pm
Quoting Monk
that last hour candle is sort of interesting.
My chart has the open and the close the same.

Any thoughts?
Well earlier I also had 15400 as objective; am also short. But the trend line in the 15 min looks pretty solid. So think I will cover short and go long as the uptrend support line gets hit. The hourly chart or rather the RSI shows hourly clearly out of overbought territory leaving room to the upside again. But of course that line might be broken but don't wanna run the risk being caught short at the London open in an overall uptrending market.....
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  • #184,639
  • Jul 15, 2009 6:37pm Jul 15, 2009 6:37pm
One thing has me puzzled. With all the large former IB's declaring that Q2 was spectacular (lending at 300-400 bps spread) and now with goldman declaring multi-billion $ earning, why is BofA baulking at a mere $4 million in fees to the Treasury?
  • #184,640
  • Jul 15, 2009 7:30pm Jul 15, 2009 7:30pm
Getting kinda nervous in this market

Dow rises
S&P rises
Gold rises
Crude rises

Then on the other hand you have

Fed fund rate falls
2yr year Treasury yields fall
VIX rises
CIT shares rise - halts trading - prepares for bankruptcy
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