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

  • #189,881
  • Aug 19, 2009 11:11pm Aug 19, 2009 11:11pm
I trade full lots in my demo account, for test purposes. I trade (max) half lots in my live account, mostly because I have other currency swing trades going on and I don't want too much risk. As far as TP, when I scalp, 10-25 points is great, but in this pair, it's a little tougher. I have had trades go negative 100 pips, only to wait for the reversal and then take 25-50 pips, even 75-100. Things change so fast here. You have to have guts and a big account.
Si vis pacem, para bellum.
  • #189,882
  • Aug 19, 2009 11:22pm Aug 19, 2009 11:22pm
I think GJ will go up to 167 before any reversal.. Just my 2 cents..
  • #189,883
  • Aug 19, 2009 11:25pm Aug 19, 2009 11:25pm
Quoting A-speculator
I think GJ will go up to 167 before any reversal.. Just my 2 cents..

167.35?
Si vis pacem, para bellum.
  • #189,884
  • Aug 19, 2009 11:27pm Aug 19, 2009 11:27pm
IMO currently 156 is the critical level as it is where the UTL of the bull flag (depends on how u see it tho) and then 157.50 - neckline of double bottom.
  • #189,885
  • Aug 19, 2009 11:28pm Aug 19, 2009 11:28pm
167,,

Lets see if it can even get to 157 here....
Markets are not Random, they are designed!
  • #189,886
  • Aug 19, 2009 11:30pm Aug 19, 2009 11:30pm
Quoting Eulogy
There was also the rumour that the government is mulling a second stimulus package, which Gibbs later on subsequently quashed. What i want to know was if the Gibbs announcement was before or after 4pm

what i do not understand is that if a 2nd stimulus package was thrown out there , after not even seeing dividends form the first tarp loans .... would the market not take this as a sign that the US Government is concerned that the recession is not over and be bad for the markets ?
Blogging daily now at www.volume.zone
  • #189,887
  • Aug 19, 2009 11:30pm Aug 19, 2009 11:30pm
Quoting Duce
167.35?
Well, I cannot say what price to be exact as it is from 38% weekly. it might be 167.50 or 167.00 or maybe 170.00. We'll figure it out when we get there. Until then the price must break 156, 157.50, 160 and 163 first. Just my 2 cents..
  • #189,888
  • Aug 19, 2009 11:39pm Aug 19, 2009 11:39pm
I would like to suggest anyone here that if you want a clear picture of where will the price go (in this case GJ), perhaps you can analyze another 2 or 3 pairs related to pound and yen just to have some idea of the strength and weekness of the currency. In my case, I study GBPCHF & GBPUSD & EURGBP - for analyzing pound and EURJPY & USDJPY - for yen.
  • #189,889
  • Aug 19, 2009 11:40pm Aug 19, 2009 11:40pm
Quoting Raza
167,,

Lets see if it can even get to 157 here....
Ok bro. No problemo..
  • #189,890
  • Aug 19, 2009 11:41pm Aug 19, 2009 11:41pm
Quoting malcolmb14
what i do not understand is that if a 2nd stimulus package was thrown out there , after not even seeing dividends form the first tarp loans .... would the market not take this as a sign that the US Government is concerned that the recession is not over and be bad for the markets ?
the psychology of the current breed of investors in the market atm is similar to all those Wall Street fat cats. Money NOW, responsibility - that's the last person holding all the crap's problem.
  • #189,891
  • Aug 19, 2009 11:45pm Aug 19, 2009 11:45pm
today important news

Retail Sales m/m

GBP

.,.,. ?
  • #189,892
  • Aug 19, 2009 11:45pm Aug 19, 2009 11:45pm
Quoting A-speculator
Well, I cannot say what price to be exact as it is from 38% weekly. it might be 167.50 or 167.00 or maybe 170.00. We'll figure it out when we get there. Until then the price must break 156, 157.50, 160 and 163 first. Just my 2 cents..

omg guys , when u see a green candle u start thinking in 167 and 170

we r still in bearish sentiment with this pair

good morning all
  • #189,893
  • Aug 19, 2009 11:48pm Aug 19, 2009 11:48pm
Quoting warta
omg guys , when u see a green candle u start thinking in 167 and 170

we r still in bearish sentiment with this pair

good morning all
I'm just saying in may get there, and i think it will. it may takes weeks but as i say, it just my humble opinion..
  • #189,894
  • Aug 19, 2009 11:49pm Aug 19, 2009 11:49pm
and on that note of corporate/investor irresponsibility i'd like to pose this question.

has anybody even heard a peep from Wells Fargo lately? It seems to have been keeping an extremely low profile these last few months.

GS and to a lesser extent MS, you see quite regularly wrangling over this HFT scandal.

BAC and JPM are bitching to the FASB against re-introducing fair market accounting.

AIG got a new CEO that had a 2 week vacation after 2 days on the job and was approved for a $7 million + bonus package.

alot of regional banks (some with negative Tier 1 capital) are collapsing one after the other.

WFC was most probably the worst big bank in boosting loss provisions seems to have retrenched its entire PR department.
  • #189,895
  • Aug 19, 2009 11:52pm Aug 19, 2009 11:52pm
Quoting Eulogy
and on that note of corporate/investor irresponsibility i'd like to pose this question.

has anybody even heard a peep from Wells Fargo lately? It seems to have been keeping an extremely low profile these last few months.

GS and to a lesser extent MS, you see quite regularly wrangling over this HFT scandal.

BAC and JPM are bitching to the FASB against re-introducing fair market accounting.

AIG got a new CEO that had a 2 week vacation after 2 days on the job and was approved for a $7 million + bonus package.

alot of regional banks (some...
FWIW...that's a lot of acronyms ! LOL.
Si vis pacem, para bellum.
  • #189,896
  • Aug 19, 2009 11:55pm Aug 19, 2009 11:55pm
Quoting A-speculator
I'm just saying in may get there, and i think it will. it may takes weeks but as i say, it just my humble opinion..
for sure it will go there and for sure it will go to 100 and for sure one day it will go back to 530 but when and how who know

so now we r @ 156 , tone of R/S bellow and above
  • #189,897
  • Aug 19, 2009 11:59pm Aug 19, 2009 11:59pm
Quoting warta
for sure it will go there and for sure it will go to 100 and for sure one day it will go back to 530 but when and how who know

so now we r @ 156 , tone of R/S bellow and above
I think it will go north first before any kind of major reversal.
  • #189,898
  • Aug 20, 2009 12:00am Aug 20, 2009 12:00am
IS that a Grave stone Doji I saw on 1 hr.. or a Pin bar..!!!
Markets are not Random, they are designed!
  • #189,899
  • Aug 20, 2009 12:04am Aug 20, 2009 12:04am
warta, the thing is, I'm not very good in waves but from my observation in H4, we are approaching the end of 2nd wave. The first wave is from 146 - 163, and I think 163 - 153.50 is the second wave. Just my 2 cents man..
  • #189,900
  • Aug 20, 2009 12:06am Aug 20, 2009 12:06am
right now 3 hour down ward channel . Symmetry was broken today double bottom 153.50 zone , approx 61.8% reatrce of move 148 to 163.

unitl 157.50 taken out on 3 hour chart , the trend is still down , although there is a possibility that his is a bull flag .

everyday it seems they come out with some piece of news to hold the markets up . Today it was the fact that we chewed thru more oil in a week than at any other timei n the last 2 years . They are just fabricating stuff now ...did manufacturing take off ? or refineries shut down ?

now if 157.50 taken out then for sure we will see 163 test

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