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

  • #209,941
  • Dec 8, 2009 8:52am Dec 8, 2009 8:52am
looking to buy GU?
Attached Image (click to enlarge)
Click to Enlarge Name: 12-8-2009 8-50-37 AM.png Size: 28 KB
MY OPINION NOT FINANCIAL ADVISE
  • #209,942
  • Dec 8, 2009 8:56am Dec 8, 2009 8:56am
Quoting USD-Bear
Entered short entries @ 147.45 147.70 and 147.95
Trailing SL @ 150.05
All closed @ 1.4395
Don't be a hero. Don't have an ego. Always question yourself
  • #209,943
  • Dec 8, 2009 9:58am Dec 8, 2009 9:58am
Scalping long @ 1.44
Don't be a hero. Don't have an ego. Always question yourself
  • #209,944
  • Dec 8, 2009 10:06am Dec 8, 2009 10:06am
Today ....EU first time since 30 April 2009 break EMA 50 at daily.

Based on H4 TF EU might spike upward...but based on daily and weekly we might see massive move down.

Weekly target will be around 3000 ~ 4000 pips
  • #209,945
  • Dec 8, 2009 10:16am Dec 8, 2009 10:16am
Quoting PandoraBox
Today ....EU first time since 30 April 2009 break EMA 50 at daily.

Based on H4 TF EU might spike upward...but based on daily and weekly we might see massive move down.

Weekly target will be around 3000 ~ 4000 pips
Yep, here comes $ rally.

I have a couple of longs which I am hedging now. Bearish bias now looks very strong.
  • #209,946
  • Dec 8, 2009 10:18am Dec 8, 2009 10:18am
Quoting ukdaytrader
Yep, here comes $ rally.

I have a couple of longs which I am hedging now. Bearish bias now looks very strong.

Mate, EU weekly now testing weekly gann .....if weekly gann flip...it will drop hard....
  • #209,947
  • Dec 8, 2009 10:41am Dec 8, 2009 10:41am
Quoting PandoraBox
Mate, EU weekly now testing weekly gann .....if weekly gann flip...it will drop hard....
Sorry, I meant I had a couple of GY longs which are hedged. GU and EU only point south to me.
  • #209,948
  • Dec 8, 2009 11:09am Dec 8, 2009 11:09am
Quoting USD-Bear
Scalping long @ 1.44
Stopped @ -10 pips
Don't be a hero. Don't have an ego. Always question yourself
  • #209,949
  • Dec 8, 2009 12:11pm Dec 8, 2009 12:11pm
according to fxlive theres chinese buying in gu protecting 6250 barriers so im a bit nervous trying to short it from here.
  • #209,950
  • Dec 8, 2009 12:16pm Dec 8, 2009 12:16pm
Quoting ewokuk
according to fxlive theres chinese buying in gu protecting 6250 barriers so im a bit nervous trying to short it from here.
I hope Asian session will give it a fuel
  • #209,951
  • Edited 1:09pm Dec 8, 2009 12:20pm | Edited 1:09pm
i hope some sort of retrace to short from. hate it when it just moves straight with no retraces, either have to not get in and get nothing, or jump in and hope it isnt at the exact point where the retrace comes.

6250-60 is major resistance even without chinese protecting barriers and theres a 23.6fib of 1.36 to 1.7 move at 6242, AND the daily trendline from 1.35 to 1.7 comes in right in that area as well. if it breaks then i think it will be a case of 'go straight to 1.58, do not pass go, but do collect 400 pips' . if it holds then maybe we somehow head back up again. i still think it will break for now, but i want a retrace to short from so it can get a bit of steam to smash through.
  • #209,952
  • Dec 8, 2009 12:47pm Dec 8, 2009 12:47pm
went long gj .....good night
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MY OPINION NOT FINANCIAL ADVISE
  • #209,953
  • Dec 8, 2009 1:38pm Dec 8, 2009 1:38pm
Quoting ewokuk
i hope some sort of retrace to short from....
You didnt hold your short from 1.6446 from yesterday then? I closed mine 1.6286, figured we retrace to 1.6375-6400 to look to get short as well. I'm having doubts it will get there now.
  • #209,954
  • Dec 8, 2009 1:44pm Dec 8, 2009 1:44pm
Quoting Cdawg
You didnt hold your short from 1.6446 from yesterday then? I closed mine 1.6286, figured we retrace to 1.6375-6400 to look to get short as well. I'm having doubts it will get there now.
no closed it at 6346 for 100. shorted again last night at 6340 and closed that too early this morning for only 50. would probably have shorted again after its little 40 pip retrace but it was 6am and i went back to bed after getting the 50.

im not good at holding things and dont like potentially giving back pips. i could put a stop 50 pips from current price and end up giving that 50 back if it gets hit, so id be more likely to put the stop 10 pips behind current price to lock most of it in, and then get stopped out early. bit irritating when it keeps going for another 50+.
  • #209,955
  • Dec 8, 2009 1:51pm Dec 8, 2009 1:51pm
http://www.forexfactory.com/showpost...stcount=209819

Above post when price was at 14880...


Now we have dropped 500 pips, are you surprised yet?
  • #209,956
  • Edited 2:17pm Dec 8, 2009 2:06pm | Edited 2:17pm
Quoting direct-trade
http://www.forexfactory.com/showpost...stcount=209819

Above post when price was at 14880...


Now we have dropped 500 pips, are you surprised yet?
surprised a bit, dollar strength hasnt held up UJ as well as i thought it might. but i didnt trust the yen pairs anyway after a 1000 pip gj rally with no retrace so stayed away expecting a retrace, concentrating on GU instead so didnt lose anything in the gj drop.

i still dont fully trust gj. looks more downside to come with 100 pips to the next fib and no pivots in the way, daily bar looks strong. wouldnt mind a short from somewhere now but probably not a good idea from here.

problem with gj is if i get it wrong i might come back after work and be down 400 pips.

i am considering shorting gu and gj at the start of london, hopefully to come back from work with 200 pips on each after the budget report sends the pound crashing hmmmm
  • #209,957
  • Dec 8, 2009 2:15pm Dec 8, 2009 2:15pm
I am in a short on GJ at 144.04... thinking that it will go further, especially with the U.S. Equitity market down.

Quoting ewokuk
i hope some sort of retrace to short from. hate it when it just moves straight with no retraces, either have to not get in and get nothing, or jump in and hope it isnt at the exact point where the retrace comes.

.
  • #209,958
  • Dec 8, 2009 2:21pm Dec 8, 2009 2:21pm
Quoting dreed
I am in a short on GJ at 144.04... thinking that it will go further, especially with the U.S. Equitity market down.
you think it will continue down in asia?

asia does often seem to sell the yen crosses except when they are taking profits off.

guess it may continue down if asian stocks follow europe and us stocks down the pan.
  • #209,959
  • Dec 8, 2009 2:52pm Dec 8, 2009 2:52pm
I think you're right, if the asian stock market follows the same pattern as the U.S Stock Market, it will indeed be down, and yes GJ will continue to fall, that is my hope...Maybe it will just gradually continue to fall down or perhaps we will get the Kaboom everyone has been speaking of, I am not sure, but I do think the over-all trend is down.

Quoting ewokuk
you think it will continue down in asia?

asia does often seem to sell the yen crosses except when they are taking profits off.

guess it may continue down if asian stocks follow europe and us stocks down the pan.
  • #209,960
  • Dec 8, 2009 3:03pm Dec 8, 2009 3:03pm
Quoting dreed
I think you're right, if the asian stock market follows the same pattern as the U.S Stock Market, it will indeed be down, and yes GJ will continue to fall, that is my hope...Maybe it will just gradually continue to fall down or perhaps we will get the Kaboom everyone has been speaking of, I am not sure, but I do think the over-all trend is down.
I generally agree, but the HUGE wild card here is BOJ. General inconsistency and incompetence aside, they are a formidable force, and if/how/when they choose to act, it will have impact. If things approach 139 again, it's likely to be quick, and any BOJ intervention could screw with your account's financial health. Trend trading and tight stops - even at the expense of greater profits, is prudent here.
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