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

  • #211,321
  • Jan 7, 2010 3:06am Jan 7, 2010 3:06am
Ranging between 147 and 148.40...i guess it'll be safer to trade once it broke one of these level
The thing is that GU broke is 1.5940 support and UJ 92.70 resistance
So it's mixed for me
what do you think ?
COT: The precious data ignored
  • #211,322
  • Jan 7, 2010 3:07am Jan 7, 2010 3:07am
Quoting ewokuk
not convinced this is going long anymore even after finmin coments about weaker yen. keeps failing to break 148.25 area and pound is real weak
OK, no major reaction to the news. That alone makes me happy! We might be seeing a VSA test now. Longs still hold promise, as that 70 pip M5 bar an hour ago must have been all buyers and there was almost the same amount of volume earlier in upwards M5 bars during Asia. Hopefully she chops some more wood, and takes off.
  • #211,323
  • Jan 7, 2010 3:07am Jan 7, 2010 3:07am
news was better than expected, i went long 147.69. stop at 70 now so i hope it keeps going this time, im getting sick of being whipped out at +1. i was at +40 last night when the thing turned on me and stopped me again on its way back to 147, was trying to hold it for once and take a few more pips up to 149.
  • #211,324
  • Jan 7, 2010 3:10am Jan 7, 2010 3:10am
Quoting ewokuk
not convinced this is going long anymore even after finmin coments about weaker yen. keeps failing to break 148.25 area and pound is real weak
We may see some volatility here, but when the Japanese finance minister says he wants a weaker Yen after it has already fallen quite rapidly, means only one thing to me.

We may be seeing some consolidation/resistance here due to AY breaking through resistance. If AY resumes it's upward motion today, there will be good reasons for GY to follow.

Staying long and added at 147.45 earlier.
  • #211,325
  • Jan 7, 2010 3:14am Jan 7, 2010 3:14am
yeah him saying that might help but before this news gj was tanking right back to 147 again on pure pound weakness. if this news can give pound a lift we might be ok.
  • #211,326
  • Jan 7, 2010 3:14am Jan 7, 2010 3:14am
Quoting ewokuk
news was better than expected, i went long 147.69. stop at 70 now so i hope it keeps going this time, im getting sick of being whipped out at +1. i was at +40 last night when the thing turned on me and stopped me again on its way back to 147, was trying to hold it for once and take a few more pips up to 149.

try to learn how and where to place a stoploss.. it worked well ,if its on the right place..
  • #211,327
  • Jan 7, 2010 3:29am Jan 7, 2010 3:29am
Quoting laharjaya
can we vote for north
n could i say welcome 146.60 then 145.60 as well
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  • #211,328
  • Jan 7, 2010 3:33am Jan 7, 2010 3:33am
Quoting Gucc
try to learn how and where to place a stoploss.. it worked well ,if its on the right place..
the answer to his problem is ..nothing work best all the time..i have tried what he's doing before..i place 4 long on gj 1 after the other first entry,second and third entry closed me at 1+ but the forth closed over 100pips ..so if it doesn't work today it will work tomorrow.
MY OPINION NOT FINANCIAL ADVISE
  • #211,329
  • Jan 7, 2010 4:55am Jan 7, 2010 4:55am
Quoting kuroro001
Ranging between 147 and 148.40...i guess it'll be safer to trade once it broke one of these level
The thing is that GU broke is 1.5940 support and UJ 92.70 resistance
So it's mixed for me
what do you think ?
If this pair doesn't reach a higher high today (minimum 148.30) I'll close my long again
Don't be a hero. Don't have an ego. Always question yourself
  • #211,330
  • Jan 7, 2010 5:15am Jan 7, 2010 5:15am
this is getting really irritating now. 2 hours its moved about 5 pips. GO UP DAMNIT
  • #211,331
  • Jan 7, 2010 5:41am Jan 7, 2010 5:41am
Guys, just take a look at UY. There is your Yen pair bias IMO. AY has not surprisingly stalled at resistance, but is ready to fly again and GY won't do anything until after the BoE meeting. UY has been steadily climbing.

Be flexible, but this kind of 'will she, won't she' movement is not surprising.
  • #211,332
  • Jan 7, 2010 5:48am Jan 7, 2010 5:48am
Hello again. Well, returned from skiing, spent the best part of this morning reading the posts, and just made a first glance at the charts.
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #211,333
  • Jan 7, 2010 5:53am Jan 7, 2010 5:53am
enough is enough..time to exit .went short on eur/jpy until 131.77 before long.will post a chart why ive done it..i cant figger out the setup on the gbp/jpy, but eur/jpy is clearer to than the gbp/jpy. so i will short the eur/jpy until 131.777 is reach before i wil go long again on gbp/jpy and eur/jpy..
  • #211,334
  • Jan 7, 2010 5:58am Jan 7, 2010 5:58am
Quoting ukdaytrader
Guys, just take a look at UY. There is your Yen pair bias IMO. AY has not surprisingly stalled at resistance, but is ready to fly again and GY won't do anything until after the BoE meeting. UY has been steadily climbing.

Be flexible, but this kind of 'will she, won't she' movement is not surprising.
Please bear my ignorance, looking at this Yen Pair bias, could we say strength of GY is mostly weakness of the Yen (GU tells us Pound is not strong), if we would see a double top on UY around 93.20 GJ could go south massively?
Don't be a hero. Don't have an ego. Always question yourself
  • #211,335
  • Jan 7, 2010 5:59am Jan 7, 2010 5:59am
Quoting USD-Bear
Please bear my ignorance, looking at this Yen Pair bias, could we say strength of GY is mostly weakness of the Yen (GU tells us Pound is not strong), if we would see a double top on UY around 93.20 GJ could go south massively?
or if pound gains any strength after boe announcement, gj would fly massively.

id count more on pound strength than rely on a double top from a currency thats getting stronger vs one thats getting weaker
  • #211,336
  • Jan 7, 2010 6:02am Jan 7, 2010 6:02am
I think it's amazing how quickly everyone questions/changes their biases here. Nothing crazy has happened. No support areas hacked out and we're still putting pressure on resistance. Simmer down, have patience and get some sleep!
check out my blog: forexmademillionaire dot com
  • #211,337
  • Jan 7, 2010 6:04am Jan 7, 2010 6:04am
Quoting USD-Bear
Please bear my ignorance, looking at this Yen Pair bias, could we say strength of GY is mostly weakness of the Yen (GU tells us Pound is not strong), if we would see a double top on UY around 93.20 GJ could go south massively?
Not ignorance at all, your analysis is correct. Sterling is not strong against the Dollar. But Yen is weakening against other currencies, so GY is poised to follow.

It's not cast in stone, JMHO.
  • #211,338
  • Jan 7, 2010 6:11am Jan 7, 2010 6:11am
well i had a weak long on gj that got stopped out at 1. im waiting for retest again of 147.80 OR a break of 148.50 before i consider another long now
  • #211,339
  • Jan 7, 2010 6:16am Jan 7, 2010 6:16am
this is my view .. ive exit my gbp/jpy possition ,because i was a bit to heavy on my position,and went short on eur/jpy with min, only for the buzzz. if im wrong i wiill re-enter my gbp/jpy long after it retrace at 149 somewhere..

the eur/jpy is more clearer to me than the gbp/jpy,if im right..

the EJ broke out of the main trandline and busy consilidate in a wedge formation and build up the speed ,before we break out to new highs..we wwill see if the wedge play out,and if it did.it should go to the 78.6 fib at 131.74..where i will load it up again..if not .. ill catch it later..
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  • #211,340
  • Jan 7, 2010 6:23am Jan 7, 2010 6:23am
more work to do ..a break above yesterday high 149.40 will be next stop ..i still have more up bias.
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MY OPINION NOT FINANCIAL ADVISE
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