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

rgitt5 i think will see first 1.6760 and after we break down ? what you say ?

Haven't traded G/J in about a month. As you can see my signals haven't been great on this pair even though they have been working fine on the other pairs I trade.

Let's see if we can get our feet wet with a short 146.78 20 pip SL.

or it may test the bottom of the triangle

Looks like there might finally be some love on the table. I will target +50 and below.

rgitt05, I'll keep that in mind for the long term.

Not liking this PA, exit for +17, still holding short A/U.

Trend is your friend!!

Hope longs were closed. . .

I just closed shorts and went long. Willing to risk 20 pips to see what the go is. US big dog might have left a bone at 147.7 he wants to bury lower.

Not liking this price action at all either... I was able to get out of my long without hurt or injury... I do think the 147.50 will be tested, and I have a pending buy order at 147.10 just in case, it happens while sleeping.

Are you guys intra-day traders or swing traders? Don't get caught up in the small rallies and PB.. Just go with the overall trend.. I set my trades and go to bed instead of crying over little BS moves..

The trend is down and I posted easy charts to follow..140 is where it is heading.. NO fundamentals will save the freefall.

Mark my word..

Happy Thanksgiving to all the short position traders!!

Sorry, forgot to add the chart.

Here is a website i found with a lot of marketing books, for those who are interested

"Thomas N. Bulkowski Encyclopedia Of Chart Patterns, 2nd Edition" is a great reference book for all the different types of patterns.

http://forexone.wordpress.com/downlo...a/#comment-386

M15 20EMA being a pest all day. If there is no up now, there will be down now! Still holding long. Happier to hold long than short at this point.

Malcom, Can you please look at your volume crystal bowl and see if we have a mark up in GU? On my MT4 platform, the upmove is supported by nothing.

Thanks

Nov. 25 (Bloomberg) -- The Australian dollar, emerging market currencies and Asian automaker stocks gained on expectations for stronger economic growth. Japanese bank shares fell to an eight-month low after Anabuki Construction Inc. filed for bankruptcy.

Australia’s currency strengthened 0.7 percent to 92.56 U.S. cents at 11:52 a.m. in Hong Kong after Reserve Bank of Australia deputy governor Ric Battellino told a conference in Melbourne the economy had entered a “new upswing.” The Malaysian ringgit and Taiwan dollar gained after Japan reported the smallest decline in exports in a year. The MSCI Asia Pacific Index rose 0.5 percent to 117.36. The Topix Real-Estate Index in Japan sank 2.1 percent and the Topix Banks Index lost 1.2 percent.

“There should be stronger growth in Asia than any other region next year,” said Christian Jin, a fund manager at HI Asset Management Co. in Seoul, which manages the equivalent of $7.8 billion. “Domestic demand is good and exports to developed economies are likely to improve.”

Australia’s economy will expand 2.9 percent next year as the world exits the first global recession since World War II, according to the median estimate of seven economists in a Bloomberg survey. Japan’s exports dropped 23.2 percent from a year earlier in October following a 30.6 percent decline the previous month, the Finance Ministry said today in Tokyo. The median estimate of 18 economists was for a 26.8 percent drop.

Australia Rates

The Australian dollar rose against all 16 of its most- traded counterparts after Battellino added to speculation for more interest-rate increases. The central bank raised rates twice since Oct. 6 and there’s a 76 percent chance the Reserve Bank will boost borrowing costs on Dec. 1, according to a Credit Suisse AG index based on swaps.

Benchmark interest rates are 3.5 percent in Australia and 2.5 percent in New Zealand, compared with 0.1 percent in Japan and as low as zero in the U.S., attracting investors to the South Pacific nations’ higher yields.

The ringgit advanced 0.3 percent to 3.3785 per dollar and Taiwan’s dollar climbed 0.1 percent to NT$32.245. The yen gained to as high as 88.20 versus the dollar, the strongest level since Oct. 8.

“Japan’s trade data clearly indicates that overseas demand is recovering,” said Tomohiro Nishida, a dealer in Tokyo at Chuo Mitsui Trust & Banking Co. “The bullish remarks from the RBA also added to the revival of risk demand.”

Consumer Stocks

Consumer stocks, including automakers, and material producers were the biggest contributors to the MSCI Asia Pacific Index’s advance. Honda Motor Co. gained 1.8 percent to 2,775 yen.

BHP Billiton, the world’s largest mining company, added 1.6 percent to A$40.86. James Hardie Industries NV, the top seller of home siding in the U.S., gained 3 percent to A$8.02.

Japan’s financial shares fell after the bankruptcy of Anabuki, with 140 billion yen ($1.6 billion) of debt, renewed concerns about the need for new capital.

Mitsui Fudosan Co., Japan’s largest property developer, fell 2.5 percent to 1,386 yen in Tokyo. Sumitomo Realty & Development Co., Japan’s No. 3 builder, dropped 2.8 percent to 1,401 yen.

Anabuki, based in Takamatsu in western Japan, filed for protection from creditors yesterday, saying its condominium business had struggled in the recession and tighter credit markets since last year. Condominium sales in Tokyo fell 20.1 percent in October.

S&P Futures

Futures on the Standard & Poor’s 500 Index added 0.1 percent. The gauge lost less than 0.1 percent yesterday as Federal Reserve officials said record-low interest rates might fuel “excessive” speculation in financial markets and possibly dislodge expectations for low inflation.

Treasuries were little changed after rising the most in a week yesterday as a sale of five-year debt drew the strongest demand in more than two years and the Fed reiterated that interest rates would remain near zero for an extended period.

The government will auction a record $32 billion of seven- year notes today following yesterday’s offering of $42 billion in five-year notes and a $44 billion sale of two-year securities on Nov. 23.

Gold for immediate delivery jumped 0.6 percent to a record $1,179 an ounce as the dollar dropped.

Buying Interest

“There certainly is very strong buying interest,” said Toby Hassall, a commodity analyst with CWA Global Markets Pty Ltd. in Sydney. “Investors are thinking of more long-term trends in the U.S. dollar, taking advantage of any short-term weakness to increase their exposure to gold.”

Oil was unchanged at $75.92 a barrel. Prices dropped to a five-week low in New York yesterday after the American Petroleum Institute reported late yesterday that U.S. crude stockpiles increased 3.35 million barrels to 336.4 million last week.

“Demand growth isn’t that strong, especially in the U.S. and we do have high inventories, so I think in the short term we could see high volatility,” said Anthony Nunan, an assistant general manager for risk management at Mitsubishi Corp in Tokyo.

The U.S. Energy Department will probably report today that crude supplies climbed by 1.5 million barrels last week, according to a Bloomberg News survey.

Long G/J (146.63) short A/U (0.9238) straddle finally starting to pay off. Have been waiting all day for this.

Looks like your Long on GJ is working out.. I have a pending order for a long at 147.10.. with a target of 147.50... Not sure if it will play out or not.. only time will tell... but congrads to you.