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

lol ...148.55 happens to be high volume pivot 10 days back .....

we came 1 pip off that

SSI is crazy today. Was there another 50 trillion RMB stimulus being planned or perhaps 100 simultaneous Government sponsored IPOs launched?

Interesting stuff from forexlive.com; BTW, they also reported that shorts were being massively dumped by hedge funds 12-24 hours before the ride up from 140/141.

posted 8hrs ago: USD/JPY running lower again, Written by Sean Lee, Nov 1, 2009 at 22:12 GMT
There was a brief pause at the Fibo support but that has now been broken and most traders I’ve spoken with this morning agree that something big might be about to happen in USD/JPY. The next technical support level is a previous intraday low at 88.80.

and 3hrs old ...

Focus to be back on GBP in early Europe, Written by Sean Lee, Nov 2, 2009 at 03:57 GMT
Two stories in the British press will likely impact the pound in early European trade. Talk that two High Street banks are to be broken up and another story involving the RBS, this time the severe demands from the EU competition commissioner. Uncertainty is never a good thing in a market and these news stories might see cable struggling to hold onto gains made during Asian trade.

And can't remember how I came across it, but this article contains among other (dire) info:

"The (Japanese) debt situation is irrecoverable," said Carl Weinberg from High Frequency Economics. "I don't see any orderly way out of this. They will not be able to fund their deficit. There will be a fiscal shutdown, a pension haircut, and bank failures that will rock the world. ... The country is hurtling into sovereign "Chapter 11". ... "This is incredibly dangerous ... The rate of deflation is shocking. The debt dynamics are horrible and there is the risk of a downward spiral."

Good luck to us all and hopefully your plan works out.

uj4h

Has to be reason that falling USDIX keeps USDJPY up...

Kaboom??

lots of invisibles here

Quite UK session so far, Strange for their standards.

Could be something is cooking??? We should be ready...

Those invisibles will pop up when GY below 147.... and yes, I am shorting GY

IMO , it be safer to trade UJ, now it's 90.18 and i see a high up-canal in 1h , what do you see ?

I see a Huge H/S with neckline broken and close well on Friday. I see a retest the same neckline, and with "possible projected target" under 88.00 level..

so.. be careful my friend.. watch carefully that green NL...

[Chart]

this is a very convincing short thx Piters.

nice and wild day..
a nice swings starting with Sydney Session down 170p then in Asia up 270p

very good day for a day trading..

havent seen a selloff of 170p in Sydney session since Stern.. collapse..



cheers!

Did someone say Kaboom?



QUOTE=Piters;3199012]nice and wild day..
a nice swings starting with Sydney Session down 170p then in Asia up 270p

very good day for a day trading..

havent seen a selloff of 170p in Sydney session since Stern.. collapse..



cheers![/quote]

This is the best advice could be given. I hate fundamentals. Last night i took care, and i lost 16 pips in EU instead winning 80 if i wait to today. I was conviced that my plan was right ( Long EU 1.4720, SL 1.4760, Target on three levels up to 1.4820 through 1.4800) Two targets were reached, but taking care of funademntals (bankrupty of CIT Bank) applied to technicals, i prefered to get out and scalping (36 pips) to come back my lost. It doesn't matter, it will serve as very precious lesson and Forex is full of opportunities.

Never and never i'll take care again to fundamentals.

Charts are my friends.

If all members at Aus Thread know, why sellers sitting at 148.50, they will trigger massive short at 148.50 and make huge profit during NY open.

I did draw little red lines showing the hig vol up bars at 148.50 ..... showing sellers hitting the market

I am hoping for test 145,75

i set a short @146.90 with target 145.30, what do you think ?

i forgot attachment