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

  • #187,541
  • Aug 5, 2009 7:23pm Aug 5, 2009 7:23pm
nursing a short from 6185 for 12 hours now....thinking of taking my 50 odd pips and calling it a day.

Anyone else in the same spot?
--post hoc ergo propter hoc--
  • #187,542
  • Aug 5, 2009 8:07pm Aug 5, 2009 8:07pm
The PA has been shite the past couple of days.

I'm trying NOT to take any big trades right now so I don't chip away at Monday's profits. We will find direction again, and I believe it's up, maybe after Friday NFP we'll get the move. I had to close 2 longs and 3 shorts so far for a small profit and 2 BEs, and have been aggressively moving my SLs up to deal with the reversals, but not one move reached a TP I set.

So for now, just scalping the range.

I noticed people talking about Goldman. The NY Times has been running some good pieces on high speed trading.

In this carefully crafted article (to avoid a libel suit no doubt) Paul Krugman comes dangerously close to accusing GS of high tech insider trading.

http://www.nytimes.com/2009/08/03/op...03krugman.html

Here's a graphic that explains what the Goldman software does. My sense is that the manipulation is caused by these massive orders being loaded up in this 30 millisecond timeframe which, in turn, makes PA move erratically.

All of a sudden trading the 1M seems really slow!
Attached Image (click to enlarge)
Click to Enlarge Name: 0724-biz-web2TRADING.jpg Size: 76 KB
  • #187,543
  • Aug 5, 2009 8:31pm Aug 5, 2009 8:31pm
so much for nursing that short....
--post hoc ergo propter hoc--
  • #187,544
  • Aug 5, 2009 8:38pm Aug 5, 2009 8:38pm
Good AUS news spiked it up. I am still thinking down before it goes up more. I could be wrong.
Show me the PIPS!
  • #187,545
  • Aug 5, 2009 8:39pm Aug 5, 2009 8:39pm
Quoting Monk
so much for nursing that short....


this does not make any sense any more ..... I thought this would move towards 160.50 , when I left the office the 15 min and 60 min said so , thought nice get to drive home ..... no I come home and find i was stopped out.

this move in Asia makes no sense in overall scheme of things.

typically they mark it down in Asia to get better prices for London . This could mean that we may see reversal day tomorrow.

I do not know if BOE ever throws out surprise rate cuts ? BOE already been squaking they do not like the gbp above 1.7
Blogging daily now at www.volume.zone
  • #187,546
  • Aug 5, 2009 8:42pm Aug 5, 2009 8:42pm
AUS employment figures are royally screwed today. Complete fakery to the extreme.

official figures
+32.2k seasonally adjusted employment change
5.8% Unemployment rate

trend (unadjusted figures)
-0.8k employment change
5.9% Unemployment rate.

for all you peeps in the US, Australia has a tiny population and hence a minute workforce by comparison. 32.2k new jobs is the equivalent of the US NFP turning a figure within the ballpark of positive 400-500k
  • #187,547
  • Aug 5, 2009 8:45pm Aug 5, 2009 8:45pm
Quoting Eulogy
AUS employment figures are royally screwed today. Complete fakery to the extreme.

official figures
+32.2k seasonally adjusted employment change
5.8% Unemployment rate

trend (unadjusted figures)
-0.8k employment change
5.9% Unemployment rate.

for all you peeps in the US, Australia has a tiny population and hence a minute workforce by comparison. 32.2k new jobs is the equivalent of the US NFP turning a figure within the ballpark of positive 400-500k
the more i see stuff like that the more i want to hoard my food , water and get as many guns as i can . These lies are going to come out at some point .... and when they do it is going to be a blood bath
Blogging daily now at www.volume.zone
  • #187,548
  • Aug 5, 2009 8:47pm Aug 5, 2009 8:47pm
Quoting malcolmb14
this does not make any sense any more ..... I thought this would move towards 160.50 , when I left the office the 15 min and 60 min said so , thought nice get to drive home ..... no I come home and find i was stopped out.

this move in Asia makes no sense in overall scheme of things.

typically they mark it down in Asia to get better prices for London . This could mean that we may see reversal day tomorrow.

I do not know if BOE ever throws out surprise rate cuts ? BOE already been squaking they do not like the gbp above 1.7
Hey Malc, i've heard a few rumours about GBP over 1.7 handle but nothing concrete. Do you have a link somewhere?
  • #187,549
  • Aug 5, 2009 8:49pm Aug 5, 2009 8:49pm
Quoting Eulogy
AUS employment figures are royally screwed today. Complete fakery to the extreme.

official figures
+32.2k seasonally adjusted employment change
5.8% Unemployment rate

trend (unadjusted figures)
-0.8k employment change
5.9% Unemployment rate.

for all you peeps in the US, Australia has a tiny population and hence a minute workforce by comparison. 32.2k new jobs is the equivalent of the US NFP turning a figure within the ballpark of positive 400-500k
their not as small as Romania..
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #187,550
  • Aug 5, 2009 8:49pm Aug 5, 2009 8:49pm
Quoting malcolmb14
this does not make any sense any more ..... I thought this would move towards 160.50 , when I left the office the 15 min and 60 min said so , thought nice get to drive home ..... no I come home and find i was stopped out.

this move in Asia makes no sense in overall scheme of things.

typically they mark it down in Asia to get better prices for London . This could mean that we may see reversal day tomorrow.

I do not know if BOE ever throws out surprise rate cuts ? BOE already been squaking they do not like the gbp above 1.7
no kidding......i moved my stop up from BE thinking i would rater loose 30 pips then sit and watch what WAS a 120 pip gain get stopped out right before the plunge.
--post hoc ergo propter hoc--
  • #187,551
  • Aug 5, 2009 8:49pm Aug 5, 2009 8:49pm
Quoting Eulogy
Hey Malc, i've heard a few rumours about GBP over 1.7 handle but nothing concrete. Do you have a link somewhere?

no just something i saw on wires the other day ... caused GBP to come off a bit during london On Monday
Blogging daily now at www.volume.zone
  • #187,552
  • Aug 5, 2009 8:57pm Aug 5, 2009 8:57pm
Quoting malcolmb14
no just something i saw on wires the other day ... caused GBP to come off a bit during london On Monday

gbp going up based on BOE stopping the easing they are doing.... that is rumour.

now what if they do not ? and there is nothing in the statement from them about this ?

could get messy
Blogging daily now at www.volume.zone
  • #187,553
  • Aug 5, 2009 9:08pm Aug 5, 2009 9:08pm
Quoting england33
their not as small as Romania..
I'm not sure what the population/workforce of Romania is but Australia is a very sparsely populated land. We celebrated that our country surpassed the 21 million population figure late last year. As it stands, the workforce is approx 1/13th the size of the US.
  • #187,554
  • Aug 5, 2009 9:09pm Aug 5, 2009 9:09pm
Eulogy,

Bro, I have upload GBPJPY Weekly analysis at News Thread.

http://www.forexfactory.com/news.php?do=news&id=188660


Including Special Report for GBPUSD.


~ Welcome for voting ~
  • #187,555
  • Aug 5, 2009 9:10pm Aug 5, 2009 9:10pm
Remember when USD/CAD hit 1.30 barrier 3 times and was unable to clear it ... Look at it NOW...it has dropped almost 20%... 1.70 could have be same for GBP/USD... Forget about the fact that it has been lingering above 1.70 for the past 12hrs...It is obviously for trapping newbies...THIS THING IS VERY OVERBOUGHT....

Since the time that it hit 1.65, 1.67, we all expected it to retrace to 1.58...Did it?... NO!...It has come up 1000 pips without proper retraction...
  • #187,556
  • Aug 5, 2009 9:13pm Aug 5, 2009 9:13pm
Quoting Eulogy
I'm not sure what the population/workforce of Romania is but Australia is a very sparsely populated land. We celebrated that our country surpassed the 21 million population figure late last year. As it stands, the workforce is approx 1/13th the size of the US.
oh yeah but no deficit from what I understand so at least they (policy makers) didn't make the mistake that the states has by digging a huge hole that will surely have long term consequences.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #187,557
  • Aug 5, 2009 9:29pm Aug 5, 2009 9:29pm
hard to believe were in still in bull mode. I'm looking at my charts and I don't see anything to jump at. hopefully a new session will bring us some more light.
160.91 downside target but still bullish above 161.00
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #187,558
  • Aug 5, 2009 9:32pm Aug 5, 2009 9:32pm
Can Some one please tell ME..what kinda F***D up PATTERN IS THIS ..

FORGET THE 15m ...EVEN ON HOURLY TOO... I KNOW ITS RANGE... BUT W.T.F.. IS THIS???
Markets are not Random, they are designed!
  • #187,559
  • Aug 5, 2009 9:36pm Aug 5, 2009 9:36pm
Quoting Raza
Can Some one please tell ME..what kinda F***D up PATTERN IS THIS ..

FORGET THE 15m ...EVEN ON HOURLY TOO... I KNOW ITS RANGE... BUT W.T.F.. IS THIS???
Tell me about it! Best thing to do is to just sit and watch.....
  • #187,560
  • Aug 5, 2009 9:39pm Aug 5, 2009 9:39pm
Quoting susufx
Tell me about it! Best thing to do is to just sit and watch.....
Hey saw your Blog..

ALSO NOTICED YOU VOUCHED ME THAN YOU TOOK IT AWAY.. NOT CONCERNED WITH..WHY YOU TOOK IT AWAY.. WHY DID YOU VOUCHED ME IN THE FIRST PLACE...? JUST CURIOUS

HOW IS UP TOWN TREATING YOU?
Markets are not Random, they are designed!
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