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

  • #201,861
  • Oct 6, 2009 11:50am Oct 6, 2009 11:50am
Quoting ewokuk
can anyone explain how its bad nfp, bad news after bad news.......and s+p continues to fly up? whats moving it up? hot air?
It's all about the crooked US Fed man . . . just gotta throw common sense out of the window . . . the primary dealers are flush with cash this week . . . and doing what they do best: speculate.
"Don't trade to trade . . . trade to win." - James16
  • #201,862
  • Edited 2:18pm Oct 6, 2009 11:53am | Edited 2:18pm
Quoting Flem26
It's all about the crooked US Fed man . . . just gotta throw common sense out of the window . . . the primary dealers are flush with cash this week . . . and doing what they do best: speculate.
seems to me a big bubble is being created with these things moving up for no valid reason. once that bubble bursts we are going to have a double dip recession which they were scared about originally.

and with gu and gj dropping regardless of s+p ripping up, god help gj if the bubble does burst, gonna be worse than the drop last year lol

LOL just noticed, ftse up 113 points on news GDP is still not positive and if gu and gj STILL drop with ftse flying up, i cant see how its going to move up from here at all.
  • #201,863
  • Oct 6, 2009 12:03pm Oct 6, 2009 12:03pm
Quoting ewokuk
seems to me a big bubble is being created with these things moving up for no valid reason. once that bubble bursts we are going to have a double dip recession which they were scared about originally.

and with gu and gj dropping regardless of s+p ripping up, god help gj if the bubble does burst, gonna be worse than the drop last year lol
I don't think they will let another free fall like last year again. Well, crazy as it sounds, I will stay bullish until 141 is taken out with tight SL..
  • #201,864
  • Oct 6, 2009 12:25pm Oct 6, 2009 12:25pm
Quoting ewokuk
seems to me a big bubble is being created with these things moving up for no valid reason. once that bubble bursts we are going to have a double dip recession which they were scared about originally.

and with gu and gj dropping regardless of s+p ripping up, god help gj if the bubble does burst, gonna be worse than the drop last year lol
"Don't trade to trade . . . trade to win." - James16
  • #201,865
  • Oct 6, 2009 2:36pm Oct 6, 2009 2:36pm
Watch the breakout of the Gold high at 1043 for furthur freefall of the GJ

Attached Image(s) (click to enlarge)
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  • #201,866
  • Oct 6, 2009 2:43pm Oct 6, 2009 2:43pm
Quoting rgitt05
Watch the breakout of the Gold high at 1043 for furthur freefall of the GJ

hang on you said if it breaks 1030 it would freefall. now it has to break 1043?
  • #201,867
  • Oct 6, 2009 2:49pm Oct 6, 2009 2:49pm
Gold is inching higher and higher..

patience



The pips aren't going anywhere but in my account




Quoting ewokuk
hang on you said if it breaks 1030 it would freefall. now it has to break 1043?
[
  • #201,868
  • Oct 6, 2009 2:53pm Oct 6, 2009 2:53pm
Quoting rgitt05
Watch the breakout of the Gold high at 1043 for furthur freefall of the GJ

I think I agree with you, but I don't have the nerve to short from this price, let see if we have a retrace or breakout of 141..
  • #201,869
  • Edited 3:25pm Oct 6, 2009 3:02pm | Edited 3:25pm
You need to reduce your risk for any pullback

Here is the BIG PICTURE

Double TOP been confirmed when 146.50 support broke

Here is a daily chart for your enjoyment where GJ PA is heading..

http://www.trending123.com/patterns/double_top.html

Patience!!!



Don't follow me, trade your charts

You don't need a GPS to see where GU and UJ is heading..

Both GU and UJ are heading lower eventually..

Overall bias is KABOOM






Quoting A-speculator
I think I agree with you, but I don't have the nerve to short from this price, let see if we have a retrace or breakout of 141..
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  • #201,870
  • Oct 6, 2009 3:18pm Oct 6, 2009 3:18pm
hmmmmmmmm assuming DT plays out fully, ultimate target is somewhere around 132. first top to 147 confirmation point is around 1500 pips. confirmation point-1500 pips = 132 area.

but i dont trust that sort of thing, anything can happen between now and then to send it flying up. else i may as well just short the sucker right now, set up additional position orders along the way and come back in a month. hmmmm so thats how quecee does it
  • #201,871
  • Oct 6, 2009 3:21pm Oct 6, 2009 3:21pm
[quote=rgitt05;3122423]You need to reduce your risk for any pullback

Here is the BIG PICTURE

Double TOP been confirm when 146.50 support broke

Here is a daily chart for your enjoyment where GJ PA is heading..

http://www.trending123.com/patterns/double_top.html

Patience!!!



that is a textbook double top, nice chart.
Thanks
  • #201,872
  • Oct 6, 2009 3:54pm Oct 6, 2009 3:54pm
1047.60 will be a stretch seeing that times has met resistance now
"Millionaires don't use astrology, billionaires do"
  • #201,873
  • Oct 6, 2009 4:08pm Oct 6, 2009 4:08pm
Very tight range for the last few hours 20pip, shes going to break... which way is the question????

asia may show us the way..
  • #201,874
  • Oct 6, 2009 5:32pm Oct 6, 2009 5:32pm
I have a very newbie question...

I've been trading the Jpy for about 8 months now and in my time zone the Tokyo Market opens at 7pm (29 minutes fromnow). But for some reason the past three days ForexFactory has showed that the market is opening at 8pm (1hr 29 minutes from now).

I called my broker, and checked a few websites and everyone/thing says the session is opening at 7pm still....


Any Ideas?

Thanks in Advance,

AC
  • #201,875
  • Oct 6, 2009 5:33pm Oct 6, 2009 5:33pm
Just like last night at Tokyo's open, I think we're going to see some major price action soon ... even in these preopen hours, it's very rare to see 20 pip drops in a matter of seconds. VSA probably dictates selling is happening. You can also see the lower side of a wedge triangle I'd hoped GY was going to stay within, but it looks to have broken out of that. Bias looks down, to at least 140.64, perhaps a retrace, then to test 139.69. For bulls and those who are thinking retrace, I'd like to think BOJ will intervene, but I doubt that's likely to happen until 135.
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  • #201,876
  • Oct 6, 2009 5:36pm Oct 6, 2009 5:36pm
kaboommmmmmmmmmmmmmmmm to 135 ..this is it
  • #201,877
  • Oct 6, 2009 5:42pm Oct 6, 2009 5:42pm
LOL
"Millionaires don't use astrology, billionaires do"
  • #201,878
  • Oct 6, 2009 5:42pm Oct 6, 2009 5:42pm
Quoting _ac_
I have a very newbie question...

I've been trading the Jpy for about 8 months now and in my time zone the Tokyo Market opens at 7pm (29 minutes fromnow). But for some reason the past three days ForexFactory has showed that the market is opening at 8pm (1hr 29 minutes from now).

I called my broker, and checked a few websites and everyone/thing says the session is opening at 7pm still....


Any Ideas?

Thanks in Advance,

AC
Daylight savings for many countries came in on Sunday.
  • #201,879
  • Oct 6, 2009 5:54pm Oct 6, 2009 5:54pm
Quoting Beljevina
Just like last night at Tokyo's open, I think we're going to see some major price action soon ... even in these preopen hours, it's very rare to see 20 pip drops in a matter of seconds. VSA probably dictates selling is happening. You can also see the lower side of a wedge triangle I'd hoped GY was going to stay within, but it looks to have broken out of that. Bias looks down, to at least 140.64, perhaps a retrace, then to test 139.69. For bulls and those who are thinking retrace, I'd like to think BOJ will intervene, but I doubt that's likely to...
I hope so, its not very often that the GJ ranges so tight, usually 20 pips is a blink. I wouldn't count on BOJ intervention as they have said they won't and don't think they would till UJ is in the low 80s. I'm waiting for the break to the downside..
  • #201,880
  • Oct 6, 2009 6:21pm Oct 6, 2009 6:21pm
Quoting Beljevina
Just like last night at Tokyo's open, I think we're going to see some major price action soon ... even in these preopen hours, it's very rare to see 20 pip drops in a matter of seconds. VSA probably dictates selling is happening. You can also see the lower side of a wedge triangle I'd hoped GY was going to stay within, but it looks to have broken out of that. Bias looks down, to at least 140.64, perhaps a retrace, then to test 139.69. For bulls and those who are thinking retrace, I'd like to think BOJ will intervene, but I doubt that's likely to...
I would have to disagree about the VSA selling. We had a strong down bar on moderate volume (for Tokyo) which closed off the lows. Next bar was an up bar with increased volume. After that we had a down bar on lower volume and then a "down-thrust" bar.

Aside from what looks like a "no demand bar" a few bars later, looks like buying to me. Price trying to breach the M5 55LWMA to the upside now.
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