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

  • #188,341
  • Aug 10, 2009 11:04am Aug 10, 2009 11:04am
On the Daily chart cable sitting on 38 fibo it could go up from here ,but for a new trader with limited money the stops should worked by now
  • #188,342
  • Aug 10, 2009 11:07am Aug 10, 2009 11:07am
Quoting malcolmb14
thing is on the JY futures Friday the up move had no volume behind it .. almost like risk tolerance is not there . Yet the euro and gbp futures dropped on good volume.
Let's wait and see you are pushing your view on me ,will see soon what direction we will take ,maybe even this week)))
  • #188,343
  • Aug 10, 2009 11:07am Aug 10, 2009 11:07am
Quoting tonycashflow
What about GU getting back to 1.6575 1.6600 ? Is this possible soon? Or should I close this now ?

Thanks

liekly .... but not 100 % sure.

we broke back into the channel and 1.6600 was support , now turned resistance. Price does not just dive with no retracement.

There is a 50 / 50 chance that you get back to 1.6600

the drop has been on low volume .. no buyers in the market at all , howvere the fact that volume is low could mean that the pros maybe interested in buying still , but where is the question .....1.6000 ?
Blogging daily now at www.volume.zone
  • #188,344
  • Aug 10, 2009 11:10am Aug 10, 2009 11:10am
Quoting sofia101
Ha,HaNow with no jokes their is Igrok tread and he thinks the same)))
sophia we still have a small spike but am not with u @ 169 - 170 coz the key level is 167-8 once we break the door will open to 191

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  • #188,345
  • Aug 10, 2009 11:14am Aug 10, 2009 11:14am
Quoting sofia101
Let's wait and see you are pushing your view on me ,will see soon what direction we will take ,maybe even this week)))
no not pushing view ... just saying what I noticed in volumes ....for mark up like that to happen in UJ there should have been more volume. The daily volume on the up candle was the same daily volume as the wide spread marked up candle before 700 pip drop .

If i saw volume to support Uj move or now see a down move on daily with low volume (called low vol test ) then I will agree that buyers are really there
Blogging daily now at www.volume.zone
  • #188,346
  • Aug 10, 2009 11:18am Aug 10, 2009 11:18am
Quoting malcolmb14
liekly .... but not 100 % sure.

we broke back into the channel and 1.6600 was support , now turned resistance. Price does not just dive with no retracement.

There is a 50 / 50 chance that you get back to 1.6600

the drop has been on low volume .. no buyers in the market at all , howvere the fact that volume is low could mean that the pros maybe interested in buying still , but where is the question .....1.6000 ?
It could be around 1.62 if not then we going much lower to 1.52
  • #188,347
  • Aug 10, 2009 11:19am Aug 10, 2009 11:19am
I understand why GY has been falling. I posted an alternative bearish scenario on Friday after the close.

But, what has me spooked is that Sterling and Euro were weak pretty much from the start of trading this week whereas, other Yen crosses gained and the indices held their own.
Whe GY moves in the way it has today, this normally means a weak market across the board, but AY and ES were very steady. Also, there was no major UK news today which would have seen Sterling drop exclusively. Sell-offs are usually across the board. Strange.

The strangest thing in all this though is that ES and AY latched on to the GY trend later in the day. I know correlations aren't always foolproof, but AY usually follows the movements of Sterling to a tee.

If I didn't know better, I would have said todays moves were a mark down to get out of O/B territory, but I do know better, so I trade my charts.
  • #188,348
  • Aug 10, 2009 11:19am Aug 10, 2009 11:19am
jpy futures .. inverse UJ ... shows the volumes very clearly and what is going on . Today was very high volume on a low spread day at support zone .. could be buyers

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  • #188,349
  • Aug 10, 2009 11:21am Aug 10, 2009 11:21am
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  • #188,350
  • Aug 10, 2009 11:26am Aug 10, 2009 11:26am
Quoting ukdaytrader
I understand why GY has been falling. I posted an alternative bearish scenario on Friday after the close.

But, what has me spooked is that Sterling and Euro were weak pretty much from the start of trading this week whereas, other Yen crosses gained and the indices held their own.
Whe GY moves in the way it has today, this normally means a weak market across the board, but AY and ES were very steady. Also, there was no major UK news today which would have seen Sterling drop exclusively. Sell-offs are usually across the board. Strange.

The strangest...

look for this on main news wires ... it is not any where

http://www.al.com/business/press-reg...850.xml&coll=3
Blogging daily now at www.volume.zone
  • #188,351
  • Aug 10, 2009 11:27am Aug 10, 2009 11:27am
Quoting malcolmb14
Attachment
Well at least we are discussing what's will happened without showing off and arguing ))) Let's wait till tomorrow and it will be more clear ,Good luck to all)Cheers
  • #188,352
  • Aug 10, 2009 11:30am Aug 10, 2009 11:30am
[quote=malcolmb14;2944319]look for this on main news wires ... it is not any where

http://www.al.com/business/press-reg...850.xml&coll=3[/quote I read about last night ,so far it's no reaction
  • #188,353
  • Aug 10, 2009 11:31am Aug 10, 2009 11:31am
Quoting sofia101
Well at least we are discussing what's will happened without showing off and arguing ))) Let's wait till tomorrow and it will be more clear ,Good luck to all)Cheers

tomorrow but i think fomc on Wednesday will bring light to what direction market wants to take . I am not discounting this move in GU to be some form of mark down either
Blogging daily now at www.volume.zone
  • #188,354
  • Aug 10, 2009 11:34am Aug 10, 2009 11:34am
[quote=sofia101;2944332]
Quoting malcolmb14
look for this on main news wires ... it is not any where

http://www.al.com/business/press-reg...850.xml&coll=3[/quote I read about last night ,so far it's no reaction

meeting is Wednesday this week. Colonial do not have to accept the request by Banking Board . If they do thought 6th largest bank in US history . This may not effect markets till Thursday
Blogging daily now at www.volume.zone
  • #188,355
  • Aug 10, 2009 11:41am Aug 10, 2009 11:41am
Quoting malcolmb14
look for this on main news wires ... it is not any where

http://www.al.com/business/press-reg...850.xml&coll=3
Yes, but this kind of news/rumour would have affected the whole matket, not limited to Sterling only. I would have expected Dollar to tank first if this news comes to light.

Would I be crazy if I said I'm placing a number of small long orders above the falling price....?
  • #188,356
  • Aug 10, 2009 11:42am Aug 10, 2009 11:42am
hihi everyone.....im new here....there should be alot of pips to collect.... going long now for G/J @ 15965.
  • #188,357
  • Aug 10, 2009 12:03pm Aug 10, 2009 12:03pm
Quoting ukdaytrader
Yes, but this kind of news/rumour would have affected the whole matket, not limited to Sterling only. I would have expected Dollar to tank first if this news comes to light.

Would I be crazy if I said I'm placing a number of small long orders above the falling price....?

it will not be on mainstream till Thursday if it happens ..... it is Just a meeting where Banking board will request Colonial to accept take over by FDIC. I like request .. law says that colonial should be taken over as debts versus assets ratio is below min required
Blogging daily now at www.volume.zone
  • #188,358
  • Aug 10, 2009 12:06pm Aug 10, 2009 12:06pm
Quoting malcolmb14
it will not be on mainstream till Thursday if it happens ..... it is Just a meeting where Banking board will request Colonial to accept take over by FDIC. I like request .. law says that colonial should be taken over as debts versus assets ratio is below min required

obviously GS worried baout it and off loading a few shares ... look how their stock went down as market went UP on Friday and they Knew Thursday that nfp was going to be -250k

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  • #188,359
  • Aug 10, 2009 12:07pm Aug 10, 2009 12:07pm
Quoting malcolmb14
obviously GS worried baout it and off loading a few shares ... look how their stock went down as market went UP on Friday and they Knew Thursday that nfp was going to be -250k

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could form h&s
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #188,360
  • Aug 10, 2009 12:09pm Aug 10, 2009 12:09pm
Quoting GreekEagle
The following is a good piece from Karl Denninger's blog....
I gave you guys this old news 5 days ago but you were all busy attacking me that its to long to read you all been listening to the tTO BIG TO FAIL
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