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

  • #203,581
  • Oct 15, 2009 8:14am Oct 15, 2009 8:14am
Quoting ukdaytrader
Yea, I saw that. Just adding small positions for a longer term trade. EU has been correlating quite well with Gold lately and I think Gold is very toppy.

Once Dollar recovers, (and it will), both EU and Gold will plummet.

dollar maybe not till end 1st quarter of next year when indexes drop .....

I do not think before xmas .
Blogging daily now at www.volume.zone
  • #203,582
  • Oct 15, 2009 8:15am Oct 15, 2009 8:15am
Commentary:

Today is looking like a major reversal day in a number of pairs, but mostly with a USD positive tilt...USD/JPY has broken above the 21-day sma and key down channel resistance, but is currently facing trend line resistance at 90.75/80. The S&P 500 is looking dangerous, with an opening gap to the upside yesterday, and a potential opening gap lower today possibly signaling a key reversal lower. Gold prices have dropped swiftly, and the EUR/USD is sliding lower after more Trichet negative EUR/positive USD comments and a test to nearly 1.5000. GBP is the clear outlier, rampaging higher on a mix of stories--Mid-East names intent on buying a UK retail chain; US investment house recommending buying GBP; massive EUR/GBP selling by hedge fund longs; FT blog talk about QE being suspended (when just yesterday the same blog suggested QE might be expanded by a further GBP 50 bio); you name it, it was GBP positive, which I take to be the red herring here. Stay tuned, stock market reaction to be the next big driver, but the big dollar may have turned the corner
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  • #203,583
  • Oct 15, 2009 8:16am Oct 15, 2009 8:16am
Quoting ukdaytrader
Yea, I saw that. Just adding small positions for a longer term trade. EU has been correlating quite well with Gold lately and I think Gold is very toppy.

Once Dollar recovers, (and it will), both EU and Gold will plummet.
it's not going to plummet yet i think..
  • #203,584
  • Oct 15, 2009 8:23am Oct 15, 2009 8:23am
Quoting rgitt05
Commentary:

Today is looking like a major reversal day in a number of pairs, but mostly with a USD positive tilt...USD/JPY has broken above the 21-day sma and key down channel resistance, but is currently facing trend line resistance at 90.75/80. The S&P 500 is looking dangerous, with an opening gap to the upside yesterday, and a potential opening gap lower today possibly signaling a key reversal lower. Gold prices have dropped swiftly, and the EUR/USD is sliding lower after more Trichet negative EUR/positive USD comments and a test to nearly...
hi rgitt,
will GJ touch 148 for your opinion?
  • #203,585
  • Oct 15, 2009 8:23am Oct 15, 2009 8:23am
Quoting rgitt05
Commentary:

Today is looking like a major reversal day in a number of pairs, but mostly with a USD positive tilt...USD/JPY has broken above the 21-day sma and key down channel resistance, but is currently facing trend line resistance at 90.75/80. The S&P 500 is looking dangerous, with an opening gap to the upside yesterday, and a potential opening gap lower today possibly signaling a key reversal lower. Gold prices have dropped swiftly, and the EUR/USD is sliding lower after more Trichet negative EUR/positive USD comments and a test to nearly 1.5000....

lol ... yeah dollar truned for sure .... wtf are they talking aabout

76 is resistance , 74.60 targets support .... we have another 1.4 to go down on usd index yet .... GU 1.6400 min target

also on dip to 1081 ES got bought on weakness .... no reversal day yet .

Attached Image (click to enlarge)
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Blogging daily now at www.volume.zone
  • #203,586
  • Oct 15, 2009 8:24am Oct 15, 2009 8:24am
Quoting malcolmb14
looking at daily


resis

148
150
153

fib reatrce major down move

148.63
151.37

and even 154 and we would still be in overall downtrend

154 sound odd but look at move overnight

and if my ES target right we should top 10500 dj / 1100 ES

there does not seem to be any sellers interested right now ... not even a 100 pip reatrce of a 400 pip move

Attachment
Thanks Malcolm. Love your insights bro, they are a big help.
You've got to be IN IT to WIN IT!
  • #203,587
  • Oct 15, 2009 8:24am Oct 15, 2009 8:24am
Quoting A-speculator
it's not going to plummet yet i think..
Maybe not yet, but like I said I'm positioning for a longer term setup.

Every man and his dog are bearish on Dollar; means one thing.
  • #203,588
  • Oct 15, 2009 8:25am Oct 15, 2009 8:25am
Quoting malcolmb14
15 min confirmed by 5 min... easy entry

Attachment

it played on our last skype chat..lol..i will sleep better today..lol
MY OPINION NOT FINANCIAL ADVISE
  • #203,589
  • Oct 15, 2009 8:27am Oct 15, 2009 8:27am
I've been waiting for a reversal for the longest time.. WHERE IS THAT RETRACEMENT!!!???
  • #203,590
  • Oct 15, 2009 8:29am Oct 15, 2009 8:29am
Weekly R3 strong resistance



Double Bottom

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

Quoting special0nefx
hi rgitt,
will GJ touch 148 for your opinion?
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  • #203,591
  • Oct 15, 2009 8:29am Oct 15, 2009 8:29am
Quoting Ifty
Thanks Malcolm. Love your insights bro, they are a big help.

we should wait till confirmation of reversal day before trying to pick a top( unless you are an intraday trader like me and even today i would not take shorts .. might miss a 150 pip move to down side but best not trade against strong trend)

gu is on fire .... look at weekly ....
Blogging daily now at www.volume.zone
  • #203,592
  • Oct 15, 2009 8:30am Oct 15, 2009 8:30am
Quoting ukdaytrader
Maybe not yet, but like I said I'm positioning for a longer term setup.

Every man and his dog are bearish on Dollar; means one thing.
I think we might break 1.5 and maintain above that level for mid term. Just my 2 cents..
  • #203,593
  • Oct 15, 2009 8:30am Oct 15, 2009 8:30am
Quoting lyy.sg
I've been waiting for a reversal for the longest time.. WHERE IS THAT RETRACEMENT!!!???
if it goes below 146.27, then there is a good chance that you'll get a decent retracement. No gaurantee that it will reverse completely though....
  • #203,594
  • Oct 15, 2009 8:33am Oct 15, 2009 8:33am
Quoting lyy.sg
I've been waiting for a reversal for the longest time.. WHERE IS THAT RETRACEMENT!!!???
yeah.. it's reminds me the time when everyone waited for s&p retracement but there never was.. stay cool man.. maybe not today..
  • #203,595
  • Oct 15, 2009 8:34am Oct 15, 2009 8:34am
Quoting lyy.sg
I've been waiting for a reversal for the longest time.. WHERE IS THAT RETRACEMENT!!!???

you need to be poked ....


sellers are not interested ..do not even try picking a top , you might be lucky or you might not

buying dips way to go for now even for intraday trading , look at 147 dip to 146.20 bought for another 130 pip move up


I am expecting gu to re test 1..6300 , seems a low vol test on 15 min has not played out yet , but not sure what they are waiting for , maybe news at top of hour , that takes gj into 148 min , maybe 148,5
Blogging daily now at www.volume.zone
  • #203,596
  • Oct 15, 2009 8:36am Oct 15, 2009 8:36am
Quoting altrader
if it goes below 146.27, then there is a good chance that you'll get a decent retracement. No gaurantee that it will reverse completely though....

from vsa perspective NO sellers in sight ... why try stopping a freight train ...are we that desperate to hit a trade ?

148 to 148.50 is place to look for profit taking ... but even I and NOT taking sells today
Blogging daily now at www.volume.zone
  • #203,597
  • Oct 15, 2009 8:37am Oct 15, 2009 8:37am
Quoting rgitt05
Weekly R3 strong resistance



Double Bottom

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

wow...strong R3...
  • #203,598
  • Oct 15, 2009 8:45am Oct 15, 2009 8:45am
gbp/jpy - is starting a shoulder head formation with top in 147,50 area target 146,24 - 40
Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #203,599
  • Oct 15, 2009 8:47am Oct 15, 2009 8:47am
Quoting rgitt05
Weekly R3 strong resistance



Double Bottom

http://www.trending123.com/patterns/double_bottom.html
Your signal

[EUR/USD] is losing further ground, as [TRICHET] says the Euro was not created to be a global reserve currency, never had a plan to promote the global use of the Euro. Trichet responds to being asked whether the US is really interested in a strong Usd says excessive volatility is the enemy of stability and reiterates that it is very important that the US admin has said it would pursue strong Usd policies. A very long market suddenly looks a touch vulnerable and the closest in proximity sub 1.4870 and 1.4850 stops have been tripped. More in place through 1.4840 too, we are told.

More from [ECB's TRICHET], though this time firmly on the fence, as he says the Bank is neither optimistic nor pessimistic about the economy while emphasising now is not the time to signal a return to good times.
  • #203,600
  • Oct 15, 2009 8:47am Oct 15, 2009 8:47am
You might hit the bull eye if the double bottom plays out

A double bottom occurs when prices form two distinct lows on a chart. A double bottom is only complete, however, when prices rise above the high end of the point that formed the second low.

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



Quoting malcolmb14
maybe 150 on cards at this rate

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