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

I vote for kaboom..

PO was filled @ 150. Let's see where it gonna go..

Hi,
BGPJPY also my favorite trade.. but as newbie i like blind man do trading on market just get 20 pips short/ long... some time it just leave me at the bottom ant some time it hang on on the top..... need help to manage and have good result


than you
note: i can't open the file that you send.... help help...

What tf are you trading? why didnt you tp at 149.2 ish? and reload later?

Basically I use 4hr and 1hr is my entry TF. I've been bearish for AU,EU,GCAD,UCAD,EJ,GU & UJ as well...

To be fair, let me tell the reason I am bearish.

First of all, I saw a bear flag is forming in 1hr last week and had my PO set and early asian session, the flag has been broken. Though there's no follow up with the movement, I think it is the best bet to short rather than long. Furthermore, I seen EU testing it's breakout price, same goes with GU. The confirmation for this analysis is a sustainable trading session below 149.40.

Each is own, I just scalped this mfer on long for 30 pips as this isnt going anywhere right now. London may give us some direction.
Cheers!

Set your sl to +1, your trade is interesting at the mo though. check your tl on the 5m

151.50/60 target? anyone?

That's what I did, i bought on the dip, entry was 149.28 It does not seem to want to make up its mind, its trading in such a tight range at the moment. which takes really talent for those who are scalping..

Just imagine all the stops that would trigger if it get there...

sound interesting...i should hold this GY till London -NY and see what daily close first before am start my new setting...

Just short GU at 1.6722 atm with BE+1..

GY am confuse atm 147.10 (148.20 need to break for south confirmation) or 151.50/60...mm

Let see how london open

only H1 above gann where may flip at any time below 89.40...very bearish
M15 just flip below gann

But my stoc at H4/d1/weekly/monthly all show OS accept H1...

So am prefer and a bit agree with dreed view atm...

Stay out for a while are better decision i think ..

Looking our VSA master if he have any input.......

Perhaps the first target may be 150.40, and if we break that, then to 151.13 & then perhaps 151.50 area. Lets see what will happen during the London Session. But if we can't break thru 150.40, it would be a good area to short i feel.

Nov. 16 (Bloomberg) -- Japan’s economy expanded at the fastest pace in more than two years in the third quarter, led by a rebound in domestic demand that may ease concern of a return to recession next year.
Gross domestic product rose at an annual 4.8 percent pace, more than the forecasts of all 20 economists in a Bloomberg News survey, after a 2.7 percent gain in the second quarter, Cabinet Office figures showed today in Tokyo. It was the second straight advance after the nation’s deepest postwar recession.
Faster growth in the world’s second-largest economy underscores a strengthening global recovery, after reports last week showed accelerating Chinese industrial production and a return to growth in the euro region. At the same time, Japan’s policy makers need to maintain monetary and fiscal stimulus to buttress the rebound, Deputy Prime Minister Naoto Kan said.
“The turnaround in public investment has definitely contributed to the rebound in GDP, so if they do start to cut it’ll weigh on growth,” said Hiromichi Shirakawa, chief Japan economist at Credit Suisse Group in Tokyo.
The yen initially rose, before paring its gains and trading at 89.65 per dollar at 12:44 p.m. in Tokyo, from 89.60 before the release. The Nikkei 225 Stock Average rose 0.2 percent. Concern about the economy’s prospects has weighed on equities, with the benchmark gauge dropping 1.6 percent since the end of June even as companies reported earnings gains.
Domestic Demand
The economy grew 1.2 percent in the three months ended Sept. 30 from the previous quarter, more than the 0.7 percent median estimate of economists. Domestic demand accounted for more than half of the increase.
Capital spending climbed 1.6 percent, more than three times the pace projected by analysts, after its longest rout since at least 1980. Business investment accounts for about 15 percent of the economy and drove more than a third of Japan’s growth between 2002 and 2007.
Prime Minister Yukio Hatoyama said over the weekend at a meeting of Asia-Pacific leaders in Singapore that the economy remains “worrisome” and another supplementary budget is “probably” warranted.
Kan said after the report that while capital spending is showing signs of bottoming, downside risks to the economy must be watched. He also predicted, in a news conference in Tokyo, that the Bank of Japan won’t alter its accommodative stance. The BOJ last month kept its benchmark interest rate near zero.
Idle Factories
One third of Japan’s factories still sit idle, forcing firms to delay hiring and investment that would help to sustain the revival.
Consumer spending, which makes up about 60 percent of the economy, climbed 0.7 percent, fueled by government incentives to purchase energy-efficient cars and appliances.
Today’s GDP figures were leaked by Trade Minister Masayuki Naoshima at a meeting of oil executives almost an hour before their release. Naoshima later apologized, telling Bloomberg News he didn’t know when the data were due to be published.
Hatoyama’s Democratic Party of Japan inherited policies that helped prop up spending at home at the cost of increasing a debt that’s approaching double the size of GDP. The DPJ itself pledges to boost spending and cut taxes, even as tax revenue declines, raising concern that Japan’s fiscal position will deteriorate further.
Investors’ Trust
The price of hedging against losses on $10 million of the country’s bonds with credit-default swaps more than doubled this month from August to as much as $76,160 a year. Finance Minister Hirohisa Fujii said last week that “maintaining the trust of investors in the government bond market is our priority.”
“The problem is that you can’t expand fiscal spending forever because we’ve got this fiscal deficit to worry about,” said Shirakawa at Credit Suisse. “They’re concerned about the economy on the one hand, on the other they’re concerned about the deficit.”
Stimulus from abroad also spurred Japan’s growth last quarter. Exports increased 6.4 percent from the previous three months, the Cabinet Office said.
China’s 4 trillion yuan ($586 billion) in government spending on building projects and household subsidies helped Hitachi Construction Machinery Co. drain stockpiles and return to profit last quarter. Honda Motor Co. last month tripled its full-year profit forecast because of Chinese sales.
Lost Ground
Japan’s expansion since March doesn’t make up the ground lost during the previous four quarters of contraction, when the economy shrank to its 2003 size. Industrial production is still about 20 percent below last year’s level and the slump in domestic demand has depressed consumer prices, which have dropped for seven months.
The Bank of Japan last month forecast deflation will persist through fiscal 2011, leaving little room to raise the benchmark rate from 0.1 percent. Central bank Governor Masaaki Shirakawa on Nov. 7 pledged to maintain an “extremely accommodative monetary environment.”
“Manufacturers are saddled with massive overcapacity so you can’t expect a strong recovery for quite some time. That’s a given,” Hiroshi Shiraishi, an economist at BNP Paribas in Tokyo, said before today’s report. “That means this initial bounce-back in the economy won’t really accelerate.”

http://www.bloomberg.com/apps/news?p...qQCo6jBU&pos=1

Volume has definitely been dropping for some days now-

Some of you might enjoy this article . . .

http://www.forexblog.org/2009/11/inv...lse-still.html

Selling at this point- 1.4995
Seems like a lack of buyers
Malcolmb is a genius- out driving his Porsche I guess

there we go.. Let's see can we manage to trade below the 149.40 level..

Also a Cup and Handle.

Breakout trading..

Patience is required..

Worth waiting.

I'm with you bro,

What I see now, GJ bounce at LTL H4. Hit LTL ...buyer coming ....hit LTL ...buyer coming ....

Excuse my ignorance what is LTL?

Lower trend Line- never mind I got it!