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

  • #208,601
  • Nov 25, 2009 4:12am Nov 25, 2009 4:12am
im already up 300 pips this week, best week for months so far. if my gu and gj positions (just opened) both go down as expected i might be able to break my record of 720

and its mostly down to using smaller positions. i no longer worry when opening it cos i know if it does go the wrong way i have the option of averaging out of it or managing it in various other ways. i seem to be getting more patient too.

down down down!!
  • #208,602
  • Nov 25, 2009 4:15am Nov 25, 2009 4:15am
Quoting ewokuk
im already up 300 pips this week, best week for months so far. if my gu and gj positions (just opened) both go down as expected i might be able to break my record of 720

and its mostly down to using smaller positions. i no longer worry when opening it cos i know if it does go the wrony way i have the option of averaging out of it or managing it in various other ways.

down down down!!
Would hold on to gj for a while. . .
Stay patient with it! Daily chart has plenty of room to move much lower!

Don't believe me just watch yr chart its very clear!
  • #208,603
  • Nov 25, 2009 4:20am Nov 25, 2009 4:20am
Quoting quecee5
Would hold on to gj for a while. . .
Stay patient with it! Daily chart has plenty of room to move much lower!

Don't believe me just watch yr chart its very clear!
Hi quecee. Charts are quite readable when you know the trading alphabet. Im lovin GJ shorts from last week. What is your most optimistic target?
  • #208,604
  • Nov 25, 2009 4:22am Nov 25, 2009 4:22am
Quoting quecee5
Would hold on to gj for a while. . .
Stay patient with it! Daily chart has plenty of room to move much lower!

Don't believe me just watch yr chart its very clear!

i have a habit of moving my stop up to lock in some nice pips cos i REALLY dont like being 100+ pips up and have it come back on me and end up negative. wouldnt mind a few hundred stress free pips though. but im always wary that all it takes is 1 guy to say 1 thing and it might go flying up 500 pips over a couple of days.

had a shorts in gj from 147.40 and 146.84 but closed both after the big move down for fear it would just get bought straight back up again into the weakness. so probably not the best entry i have now at 146.37.

UJ worries me, its 60 pips from the financial crisis lows, it might touch that and fly up couple of hundred and take gj up 500 pips. or japan might intervene on uj and send gj flying with it. these things keep me from holding things too long and make me lock most of the pips in.

gu i got initial target of 6500 so a nice 200 pips.
  • #208,605
  • Nov 25, 2009 4:24am Nov 25, 2009 4:24am
Quoting belekas
Hi quecee. Charts are quite readable when you know the trading alphabet. Im lovin GJ shorts from last week. What is your most optimistic target?
144.50/80 seems to be a given but I would look for monthly gann for a bounce once 144.80 is reached back to support turned resistance @ 146.30 then a continuation from there to 141.50-140 area. . . maybe even lower. . . 137/135!

Would watch the monthly close. . . a close below 147 on a monthly basis would be very supportive of this view!
  • #208,606
  • Nov 25, 2009 4:27am Nov 25, 2009 4:27am
My chart 1 hour TF, MA of RSX is overbought. Waiting Lagueare to pointing downwards to confirm down move. Or else, price will go up a little bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 34 KB
  • #208,607
  • Nov 25, 2009 4:28am Nov 25, 2009 4:28am
Quoting quecee5
144.50/80 seems to be a given but I would look for monthly gann for a bounce once 144.80 is reached back to support turned resistance @ 146.30 then a continuation from there to 141.50-140 area. . . maybe even lower. . . 137/135!

Would watch the monthly close. . . a close below 147 on a monthly basis would be very supportive of this view!
Ok, im targeting 144-143 so let's see what happens. Completely different technics right there. Hope you are riding the bear with me?
  • #208,608
  • Nov 25, 2009 4:35am Nov 25, 2009 4:35am
gj is going the wrong waaaaaaaaaaaaaaay *panic sets in*
  • #208,609
  • Nov 25, 2009 4:38am Nov 25, 2009 4:38am
Quoting belekas
Ok, im targeting 144-143 so let's see what happens. Completely different technics right there. Hope you are riding the bear with me?
Patience my friend patience is all it takes. . .
  • #208,610
  • Nov 25, 2009 4:39am Nov 25, 2009 4:39am
Well I got in a buy at 146.20, which seem to be a newer support that had formed in my opinion..

Quoting karmostaji
146.40 area has held well for now, I think we're going to test 149..
  • #208,611
  • Nov 25, 2009 4:39am Nov 25, 2009 4:39am
Quoting quecee5
Patience my friend patience is all it takes. . .
How true. Cheers to that buddy
Send my greetings to Piters and pkmnyc!
  • #208,612
  • Nov 25, 2009 4:48am Nov 25, 2009 4:48am
Quoting donfriday
enjoy
4 HR ..15M.. AND hOURLY ARE ALL bULLISH...

Besides GANN... which can Flip Back..

Bullish engulfing on 15..M big huge hammer on 1 hr...unless hourly becomes a doji in 10 min at 146.44

Even 30 M has double hammer..
Markets are not Random, they are designed!
  • #208,613
  • Nov 25, 2009 4:52am Nov 25, 2009 4:52am
Quoting Raza
4 HR ..15M.. AND hOURLY ARE ALL bULLISH...

Besides GANN... which can Flip Back..

Bullish engulfing on 15..M big huge hammer on 1 hr...unless hourly becomes a doji in 10 min at 146.44
Yep pips can be made both ways all just depends on your trading style, tolerance level and the amount of time you have to invest. . .

Chow and happy pip'n. ..
  • #208,614
  • Nov 25, 2009 4:53am Nov 25, 2009 4:53am
Commentary:

Sell all BS rallies!!

Gold was the big mover and shaker of the day in Asia as the precious metal surged to new record highs near the $1,178.00 per ounce mark in cash. Early rumors that India was looking to add to the 200 metric ton stockpile it purchased last week was cited as a propellant for the commodity. Although the rumors were later denied by an Indian finance minister, the damage had already been done as the big moves helped boost the Euro and other risk currencies higher. Traders now seem to have changed their focus to the $1,200.00 per ounce threshold. EUR/USD once again flirted with the 1.5000 level but failed to consummate the move above it, failing at 1.4998 after a 45 pip run higher from the open. GBP/USD continued higher after yesterday’s selloff, reaching 1.6625 to cap a 45 pip drive higher. Dollar weakness across Asia was also fueled by a Chinese news report that left the door open for the possibility of increasing the flexibility of its currency. Down under, the Aussie Dollar was boosted by Deputy RBA Governor Battellino’s optimistic commentary on the state of the Australian economy, thus helping to raise expectations for a potential rate hike to end out the year in December. AUD/USD had a solid run from 0.9190 to just over 0.9260 for the day, empowered as well by the strength in commodities, in this case most notably gold. A rebalancing of the Asian MSCI index was favorable to the yen as USD/JPY hit 88.20 which was a seven week low. The all important 88.00 level in this pair, which is noted to be a large option barrier still looms large. With the US holiday on the horizon, tomorrow is jam packed with data including Unemployment, durable goods and new home sales. With many traders squaring up positions in the face of fading liquidity, look for markets to lose steam heading into the weekend.









Quoting quecee5
Most were expecting the leaked supposedly good news to boost GJ up to 149 or to the moon. . . Typical BS move. . .!

The move lower was/is to be expected. . . The charts implied that the market was selling the whole time as the let the low volume drive the price to technical levels before unloading. . .

Typical bull trap!
[
  • #208,615
  • Nov 25, 2009 4:55am Nov 25, 2009 4:55am
Quoting quecee5
Yep pips can be made both ways all just depends on your trading style, tolerance level and the amount of time you have to invest. . .

Chow and happy pip'n. ..
..

Chewing some Patience Pills...ATM..

Hope this does not become a Bear Trap.....

Need a Daily to close below 146.00
Markets are not Random, they are designed!
  • #208,616
  • Edited 5:12am Nov 25, 2009 4:58am | Edited 5:12am
4 hour chart shows that we are in an descending staircase (bearish continuation pattern) might be bouncing in the traingle before heading down.

Quoting Raza
4 HR ..15M.. AND hOURLY ARE ALL bULLISH...

Besides GANN... which can Flip Back..

Bullish engulfing on 15..M big huge hammer on 1 hr...unless hourly becomes a doji in 10 min at 146.44

Even 30 M has double hammer..
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 24 KB
  • #208,617
  • Nov 25, 2009 5:01am Nov 25, 2009 5:01am
Just a word to say hello !

HELLO
  • #208,618
  • Nov 25, 2009 5:02am Nov 25, 2009 5:02am

Quoting rgitt05
Commentary:

Sell all BS rallies!!

[b]Gold was the big mover and shaker of the day in Asia as the precious metal surged to new record highs near the $1,178.00 per ounce mark in cash. Early rumors that India was looking to add to the 200 metric ton stockpile it purchased last week was cited as a propellant for the commodity. Although the rumors were later denied by an Indian finance minister, the damage had already been done as the big moves helped boost the Euro and other risk currencies higher. Traders now seem to have changed their focus to the...
  • #208,619
  • Nov 25, 2009 5:10am Nov 25, 2009 5:10am
Quoting just_ha
1 hour chart shows that we are in an descending staircase (bearish continuation pattern) might be bouncing in the traingle before heading down.

Here is 1 hr channel...and descending triangle..

I would like to se this go down too..BUT..

As far as I know descending triangle in Downtrend Break to the UPSIDE..

Agree Disagree.....Please convince ME..
Attached Image (click to enlarge)
Click to Enlarge Name: 1 hr channel.jpg Size: 167 KB
Markets are not Random, they are designed!
  • #208,620
  • Nov 25, 2009 5:16am Nov 25, 2009 5:16am
Quoting Raza
Here is 1 hr channel...and descending triangle..

I would like to se this go down too..BUT..

As far as I know descending triangle in Downtrend Break to the UPSIDE..

Agree Disagree.....Please convince ME..
Only time will tell. . . Sentiments are bearish. . .
Daily sentiments activated. . .

We put in a lower high (top) off 148.20 which tells me that a lower low is forthcoming!

Stay tuned!

Nevertheless shorting rallies is almost a given. . . This time support may not hold!
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