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

  • #218,441
  • Mar 16, 2010 11:44am Mar 16, 2010 11:44am
Quoting Scrat
well well... just as i expected. going nowhere. no more longs, apparently, otherwise this should have already been at 139 .

but, it clearly showed where support is FOR NOW. 137.20.
Not sure I agree... seeing as FOMC is really a USD dominated news event I feel like GBP/JPY generally gets caught in a tug of war between USD/JPY and GBP/USD which is exactly what happened here.

The intraweek trend is up for now and I think that was confirmed with the movement earlier this morning. We could definitely see a continuation of it so I'm not writing off my long bias yet.
check out my blog: forexmademillionaire dot com
  • #218,442
  • Mar 16, 2010 11:44am Mar 16, 2010 11:44am
FOMC will/is a non-event this time around ... I think Mr. Bean of BoE speaking in the next 30 min will have more of an impact on sterling - downwards me hopes! Afterall, how much optimism and doublespeak would it take to rally sterling? But, you never know, 139.2 might still be in the cards, this wave or later this week ... yen weakness is a concern too ... oh I miss the days when things were less complicated!
  • #218,443
  • Mar 16, 2010 11:44am Mar 16, 2010 11:44am
Well amigo I played short the eur/jpy on this it's looking really good so far..
Dean


Quoting Scrat
well well... just as i expected. going nowhere. no more longs, apparently, otherwise this should have already been at 139 .

but, it clearly showed where support is FOR NOW. 137.20.
  • #218,444
  • Mar 16, 2010 11:47am Mar 16, 2010 11:47am
Quoting dean walker
Well amigo I played short the eur/jpy on this it's looking really good so far..
Dean
Now the G very strong...
  • #218,445
  • Mar 16, 2010 12:18pm Mar 16, 2010 12:18pm
yes, intra-week trend is still up but looks really toppish. intra-day is up as well but with same observation.

i am not saying it won't get to 139 or even 141. it's just that at this moment, supports are more important than upside targets.

Quoting Geppy
Not sure I agree... seeing as FOMC is really a USD dominated news event I feel like GBP/JPY generally gets caught in a tug of war between USD/JPY and GBP/USD which is exactly what happened here.

The intraweek trend is up for now and I think that was confirmed with the movement earlier this morning. We could definitely see a continuation of it so I'm not writing off my long bias yet.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #218,446
  • Mar 16, 2010 12:25pm Mar 16, 2010 12:25pm
mister bean... hm... where did i hear this name

Quoting Beljevina
FOMC will/is a non-event this time around ... I think Mr. Bean of BoE speaking in the next 30 min will have more of an impact on sterling - downwards me hopes! Afterall, how much optimism and doublespeak would it take to rally sterling? But, you never know, 139.2 might still be in the cards, this wave or later this week ... yen weakness is a concern too ... oh I miss the days when things were less complicated!
Nihil Sine Deo.
  • #218,447
  • Mar 16, 2010 12:27pm Mar 16, 2010 12:27pm
Quoting Scrat
it's just that at this moment, supports are more important than upside targets.
I think that's been pretty true for most of this correction and will continue being true unless we get through 143.00 or so and then we can start looking toward resistance rather than watching to see what supports are going to hold.

Appreciate the input though.
check out my blog: forexmademillionaire dot com
  • #218,448
  • Mar 16, 2010 12:47pm Mar 16, 2010 12:47pm
Quoting Beljevina
FOMC will/is a non-event this time around ... I think Mr. Bean of BoE speaking in the next 30 min will have more of an impact on sterling - downwards me hopes! Afterall, how much optimism and doublespeak would it take to rally sterling? But, you never know, 139.2 might still be in the cards, this wave or later this week ... yen weakness is a concern too ... oh I miss the days when things were less complicated!
BOE’s Bean: Policy could go either way, as needed - Written by Jamie Coleman - March 16, 2010 at 19:18 GMT

- UK deficits are unsustainable in the medium-term and are a factor behind the recent weakness of the pound
- Road ahead still bumpy, long way before recovery complete
MPC ready to resume asset purchases (QE) or tighten policy if required.
Cable is holding firm despite the Bean comments. Usually we would tumble on talk of unsustainable deficits, but the market trades as if it is short…Cable trades at 1.5230.


Hmm ... cable's bullish ... GY looking similar, with room to grow, and UJ/EJ yearning to go up too.
  • #218,449
  • Mar 16, 2010 12:54pm Mar 16, 2010 12:54pm
Right..well picked up some nice pips on the eur/jpy
Not much of a impact this time with FOMC plus they had the Fed funds rate and we got a dud more or less now were back where we started from almost..
Dean


Quoting special0nefx
Now the G very strong...
  • #218,450
  • Mar 16, 2010 12:57pm Mar 16, 2010 12:57pm
well i'm not worried about you...

i've got the feeling you know exactly what you are doing. but most people on this thread probably don't, and they take risks based on what we are saying. it shouldn't be like that, but unfortunately it is. i remember someone was pretty enthusiastic (and no, it was not rgitt) at the end of last week... "yeah baby this is going straight into 139... oh yeaaaah"... well it didn't. it went straight to 135. not very good for longs taken in the high 137...

i am trying to show both sides of the coin... and why we are more likely to get one side rather than the other...

Quoting Geppy
I think that's been pretty true for most of this correction and will continue being true unless we get through 143.00 or so and then we can start looking toward resistance rather than watching to see what supports are going to hold.

Appreciate the input though.
Nihil Sine Deo.
  • #218,451
  • Mar 16, 2010 12:59pm Mar 16, 2010 12:59pm
i wonder what would have happened if instead of UK would have been Greece .

Quoting Beljevina
BOE’s Bean: Policy could go either way, as needed - Written by Jamie Coleman - March 16, 2010 at 19:18 GMT [indent]- UK deficits are unsustainable in the medium-term and are a factor behind the recent weakness of the pound
- Road ahead still bumpy, long way before recovery complete
MPC ready to resume asset purchases (QE) or tighten policy if required.
Cable is holding firm despite the Bean comments. Usually we...
Nihil Sine Deo.
  • #218,452
  • Mar 16, 2010 1:00pm Mar 16, 2010 1:00pm
Quoting Scrat
well i'm not worried about you...

i've got the feeling you know exactly what you are doing. but most people on this thread probably don't, and they take risks based on what we are saying. it shouldn't be like that, but unfortunately it is. i remember someone was pretty enthusiastic (and no, it was not rgitt) at the end of last week... "yeah baby this is going straight into 139... oh yeaaaah"... well it didn't. it went straight to 135. not very good for longs taken in the high 137...

i am trying to show both sides of the coin... and why...

Agreed, the ones that know more than the others I think is quite apparent who they are (or is after some observation). And I don't mean that in a demeaning way, there are just some who have been at it longer and therefore more experienced. I think it's key for new people to recognize that and watch those members and learn from them... I'm not an advocate of giving a man a fish but rather teaching how to fish. Unfortunately, I too see a lot simply wanting a handout but I think most generally want to learn.

I'm glad to help if I can.
check out my blog: forexmademillionaire dot com
  • #218,453
  • Mar 16, 2010 2:32pm Mar 16, 2010 2:32pm
Quoting special0nefx
hi bro, long time no see. how are you?
i am fine just busy with life outside FF..how u doing in the pip world..take care..
MY OPINION NOT FINANCIAL ADVISE
  • #218,454
  • Mar 16, 2010 2:57pm Mar 16, 2010 2:57pm
I just closed nearly all my longs, but I'll be looking to pick them back up. I think we should see a slight retracement and I'm not one to just leave my profits on the table.

The 4H stochastics look like they could use some unwinding before we see a higher high... this will also help take some pressure off the 1H timeframe so those two can align and break the heavy resistance in the 138.00 zone. The 1H 200SMA comes in near the bottom trendline of the uptrend channel and offered good support on last night's retracement. This may be the place to add longs... perhaps the 136.30-50 area or slightly lower. After that we could definitely see a push for 138.00 again and a break. If that is to happen we can definitely expect 138 to turn into some great support.

That's my plan and I'm sticking with it!
check out my blog: forexmademillionaire dot com
  • #218,455
  • Mar 16, 2010 4:59pm Mar 16, 2010 4:59pm
i entered late long at 136.95 and took profit at 137.70.

keep up the good wok guys...

BB
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  • #218,456
  • Mar 16, 2010 7:26pm Mar 16, 2010 7:26pm
I wanted to go short for a 75 - 100 pips during Asia, but it doesn't seem to happen.
At least not yet.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #218,457
  • Mar 16, 2010 8:21pm Mar 16, 2010 8:21pm
i was thinking going short at the moment...somewhere around 137.55 with SL -50 (138.05)....why?the price have tested my [email protected] and i know the bias at the moment is bullish (the beginning) but still i like short....risking only 2% of equity at the moment (just incase my prediction is totally wrong)....but as soonest it goes ++ i will lock in the pips just incase it return back to me. it could be a continous uptrend, a double top or H&S (i'm still not sure). adding in my indicator still showing me a low amount of buyer and the momentum going up is not quite strong.....any opinion? should i waited or should i risk it...... anybody please.....
  • #218,458
  • Mar 16, 2010 8:29pm Mar 16, 2010 8:29pm
stay out for now.

Quoting Mr.Elliott
i was thinking going short at the moment...somewhere around 137.55 with SL -50 (138.05)....why?the price have tested my [email protected]...
Nihil Sine Deo.
  • #218,459
  • Mar 16, 2010 8:36pm Mar 16, 2010 8:36pm
Quoting Scrat
stay out for now.
I concur. Wait until London session to know the direction.
  • #218,460
  • Mar 16, 2010 8:39pm Mar 16, 2010 8:39pm
Quoting Mr.Elliott
i was thinking going short at the moment...somewhere around 137.55 with SL -50 (138.05)....why?
I'm out of all trades for the moment.
I'll wait for a clear sign which direction it is going.
Only too bad that London open is time I have to get sleep.
New voice message: Why are you calling me? If I need you, I'll call you!
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