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

  • #216,401
  • Feb 24, 2010 7:35am Feb 24, 2010 7:35am
Quoting ewokuk
home sales is also out at the same time bernie starts. so its possible that sends it flying up, only for bernie to send it flying back down. or if home sales is bad thatll send it down, then bernie sends it down and we might even se 135.70 today but probly not
Actually the daily swing is 138.02 - 139.84 - 140.95 so it could go either way.
But I believe that 4hr hour divergence will play whether it's a spike or whatever. . .
  • #216,402
  • Feb 24, 2010 7:40am Feb 24, 2010 7:40am
Quoting quecee5
Actually the daily swing is 138.02 - 139.84 - 140.95 so it could go either way.
But I believe that 4hr hour divergence will play whether it's a spike or whatever. . .
its absolutely true what you are saying. its been there for ages in such a tight unusual for GJ range - it has to go somewhere from there.
I am very tempted to put trades on both sides of the range and see which of them will work out. at this time its pure gamble
  • #216,403
  • Feb 24, 2010 7:44am Feb 24, 2010 7:44am
Quoting quecee5
Actually the daily swing is 138.02 - 139.84 - 140.95 so it could go either way.
But I believe that 4hr hour divergence will play whether it's a spike or whatever. . .
Romeo take me somewhere we can be alone
I'll be waiting all there's left to do is run
You'll be the prince and I'll be the princess
It's a love story baby just say yes

Let's Breakout baby.
  • #216,404
  • Feb 24, 2010 7:55am Feb 24, 2010 7:55am
Commentary News:

Calm before the Bernanke storm... The currency markets have been in consolidation mode for the better part of the overnight session as traders await with anticipation Fed Chairman Bernanke’s testimony at 10am NY time. The recent hike to the discount rate has many speculating that this was only the first in many steps to tighten monetary policy. While it does suggest a shift to a tighter Fed sooner rather than later, the economic reality of what has become a very uneven recovery coupled with extremely elevated unemployment are likely to keep the Fed on hold (as far as the target rate goes) at least into the 4Q of this year. Bernanke will shed more light on the Fed’s path and will likely be grilled as to the timeline of such tightening measures. Should he echo recent comments by San Francisco Fed President Yellen that the Fed should remain open to expanding its MBS (mortgage-backed securities) purchases should the housing market warrant and that the target rate should remain on hold for "an extended period", we could see some weakness in the US dollar on the follow. One of the justifications for the buck’s strength has been that the Fed will be tightening policy much sooner than many other central banks (BOE, ECB) so Bernanke casting doubt on this front could make for a short-term US dollar selloff. In our view, such an event would only provide an even better opportunity in which to establish US dollar long positions.
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  • #216,405
  • Feb 24, 2010 7:57am Feb 24, 2010 7:57am
took small long at 138.96, looks like diamond bottom on H2 to me. Any comment welcome. Target141.
Attached Image
  • #216,406
  • Feb 24, 2010 8:55am Feb 24, 2010 8:55am
seems geithner and bernie are both speaking at the same time. and heres a nice little upthrust before the news comes out lol up it goes weeeeeeeeeeeeeeeeeeeeeeeeeeee come to me baby,im ready to sell you
  • #216,407
  • Feb 24, 2010 9:17am Feb 24, 2010 9:17am


Quoting rgitt05
Since PA been consolidating for a while, I am expecting at around 134.00 today..

IMHO..

It may happen today or not depending on BEN...

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  • #216,408
  • Feb 24, 2010 9:21am Feb 24, 2010 9:21am
Quoting rgitt05

I am counting..hahaha
  • #216,409
  • Feb 24, 2010 9:22am Feb 24, 2010 9:22am
Quoting rgitt05
is it going to 134 now?

its only done 127 pip range, plenty more downside potential now! at least another 70 easily possible
  • #216,410
  • Feb 24, 2010 9:25am Feb 24, 2010 9:25am
Kaboom

Quoting ewokuk
is it going to 134 now?

its only done 127 pip range, plenty more downside potential now! at least another 70 easily possible
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  • #216,411
  • Feb 24, 2010 9:28am Feb 24, 2010 9:28am
Quoting rgitt05
Kaboom
i be surprised if it gets below weekly s3 at 137.32 before the end of the week though
  • #216,412
  • Feb 24, 2010 9:28am Feb 24, 2010 9:28am
Quoting hindart
took small long at 138.96, looks like diamond bottom on H2 to me. Any comment welcome. Target141.
Well, Stopped out at BE after 31pip up move. This is the second time Diamond bottom has failed for me. I am not going to trade this pattern again, fortunately i had moved SL to BE when i was 25pip up.
  • #216,413
  • Feb 24, 2010 9:32am Feb 24, 2010 9:32am
The play is sell the rallies - long'n at these levels are quite dangerous but to each his/her own. . .

The daily chart speaks volume as I pointed out on Sunday before the market opened and it has plenty of room to move south. . .

Wouldn't be looking at longs until we hit a major support level - like 135.70/134.60 because this time ladies and gentlemn this 138 support won't hold water. . . Bulls have run out of steam and we are making lower highs each and every day. . .

Good luck on longs. . .
  • #216,414
  • Feb 24, 2010 9:36am Feb 24, 2010 9:36am
Quoting ewokuk
is it going to 134 now?

its only done 127 pip range, plenty more downside potential now! at least another 70 easily possible
Who the heck knows. The drop was due to abysmal US housing sales, down 11% - that's gotta translate into lots of job losses, directly in the building trade and obviously everything that gets bought for new homes, adding to job losses. On GJ, the golden question is, will 138.3 hold before crashing through 138.2. In tenous times like this, where patterns and S/R aren't really being respected, but instead testimonies and news drive things, entries aren't really wise, just for the sake of trading. I've been burned too many times, and choose to be flat, until a better entry comes along. Mid-term trend is clearly bearish, with 150 pip swings, often against you! And eating my own words ... am in a 138.4 speculative long, SL 138.3.
  • #216,415
  • Feb 24, 2010 9:44am Feb 24, 2010 9:44am
Quoting Beljevina
Who the heck knows. The drop was due to abysmal US housing sales, down 11% - that's gotta translate into lots of job losses, directly in the building trade and obviously everything that gets bought for new homes, adding to job losses. On GJ, the golden question is, will 138.3 hold before crashing through 138.2. In tenous times like this, where patterns and S/R aren't really being respected, but instead testimonies and news drive things, entries aren't really wise, just for the sake of trading. I've been burned too many times, and choose to be flat,...
Exactly my point. Calling short now is dangerous. I am long too from 138.50, sl below 138.25 .
  • #216,416
  • Feb 24, 2010 9:50am Feb 24, 2010 9:50am
lol..every week the supp change form some guys here..

it was 140 ,then 139,now 138 ,next week 137 ..?

the major supp was 140,,broke that already ,,138 no biggy ... 135 next,then 130 ...
  • #216,417
  • Feb 24, 2010 9:51am Feb 24, 2010 9:51am
138.22 may act as support trap for gbp jpy ,watch out for imminent weakness
  • #216,418
  • Feb 24, 2010 9:53am Feb 24, 2010 9:53am
Now..that is BS...hello 140.3?..I am out for tonite..happy pipping every one..sl @ BE
  • #216,419
  • Feb 24, 2010 9:54am Feb 24, 2010 9:54am
You change also with your avatar name...You think I don't know who you are..



Quoting zweig
lol..every week the supp change form some guys here..

it was 140 ,then 139,now 138 ,next week 137 ..?

the major supp was 140,,broke that already ,,138 no biggy ... 135 next,then 130 ...
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  • #216,420
  • Feb 24, 2010 9:57am Feb 24, 2010 9:57am
Wait for the london close before you change bias..

You will be long margin call.

This PB is a classic before the london close

Selling all rallies..

Trend is my friend..





Quoting manz66
Exactly my point. Calling short now is dangerous. I am long too from 138.50, sl below 138.25 .
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