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

  • #218,601
  • Mar 18, 2010 1:32am Mar 18, 2010 1:32am
Technically,now it is a game of tug of war between Gbp and Jpy indices. Gbp H4 is stuck and is rejecting the bottom of inside bar( strengtening). Jpy hourly has hit resistance and fib 62...it is weekening.

IMO..better lock in or bag your pips for now.. I still believe we may see 138.6 or 139.3 before we move down again.
  • #218,602
  • Mar 18, 2010 1:46am Mar 18, 2010 1:46am
London traders & systems are coming online shortly; we'll very likely see this spike in some direction. Expect big moves in GJ, GU & be careful. Retest of 137.5 underway - if they flip the buy switch, this will shoot up.
  • #218,603
  • Mar 18, 2010 2:04am Mar 18, 2010 2:04am
Gbp pennant is breached..I am buying
  • #218,604
  • Mar 18, 2010 2:14am Mar 18, 2010 2:14am
Quoting Myrza
Gbp pennant is breached..I am buying
I'd be very careful ... pre-session whippings are meant to shake you out - candle flags carry little weight at this time. Yesterday morning, they whipped it up and down 80 pips before sending it straight up. Not to mention, the red herring of UK public finances news later - can't expect goodness there, so maybe locking in any profits is the key.
  • #218,605
  • Mar 18, 2010 2:22am Mar 18, 2010 2:22am
Quoting Beljevina
I'd be very careful ... pre-session whippings are meant to shake you out - candle flags carry little weight at this time. Yesterday morning, they whipped it up and down 80 pips before sending it straight up. Not to mention, the red herring of UK public finances news later - can't expect goodness there, so maybe locking in any profits is the key.

I am being careful..sl @ BE...actually still not sure where we are heading
  • #218,606
  • Mar 18, 2010 2:58am Mar 18, 2010 2:58am
Quoting Scrat
it has to go lower, this is what big guys built for the last couple of days. 138.30/40 is resistance, and i will look for more shorts from there.
below, there is 137.60/30; then 136.70; and then 135.45, the last frontier - below that, we can open again the pip parachute.
good call so far...
  • #218,607
  • Mar 18, 2010 3:03am Mar 18, 2010 3:03am
closed all my sorts ! will latter, currently out of this!

By the way scalp bought UJ @90.04
  • #218,608
  • Edited 3:33am Mar 18, 2010 3:08am | Edited 3:33am
Out with another 1/4 of my shorts @ 137.4. Looking for good buy point now; GJ's tanked 100 pips in <1 hour, FTSE's opening, up she goes, until the news in 90.

EDIT: On second thought, there's nothing convincing about a retrace upwards & given news in an hour, will be contemplating more shorts for what's gotta be bad public finance news. Only guessing though, trade your charts.
  • #218,609
  • Mar 18, 2010 4:39am Mar 18, 2010 4:39am
I'm wondering who bought usdjpy like that
COT: The precious data ignored
  • #218,610
  • Mar 18, 2010 4:40am Mar 18, 2010 4:40am
Quoting Beljevina
... will be contemplating more shorts for what's gotta be bad public finance news. Only guessing though, trade your charts.
Going to stick with my existing shorts & pop some patience pills. Sterling news was better than expected ... Gordon's cooking the books, and declaring not that many fires on the Titanic. Nice pin bar bounce off 137 should signal buy - will set a few points (for 40-50 pips, SL just below 137) and go off to bed - am feeling more tired than a Greek PM puttin' on a dog'n'pony show!
  • #218,611
  • Mar 18, 2010 4:43am Mar 18, 2010 4:43am
Quoting Beljevina
Going to stick with my existing shorts & pop some patience pills. Sterling news was better than expected ... Gordon's cooking the books, and declaring not that many fires on the Titanic. Nice pin bar bounce off 137 should signal buy - will set a few points (for 40-50 pips, SL just below 137) and go off to bed - am feeling more tired than a Greek PM puttin' on a dog'n'pony show!
FF calendar says Sterling news was far worse than expected and previous month's results were downgraded as well.
  • #218,612
  • Mar 18, 2010 4:47am Mar 18, 2010 4:47am
you looking at the right item? borrowing was better than expected on mine
  • #218,613
  • Mar 18, 2010 4:54am Mar 18, 2010 4:54am
Quoting ewokuk
you looking at the right item? borrowing was better than expected on mine
Public borrowing 12.4B vs expected 14.6B: previous 0.0B revised from 4.3B

M4 money supply 0.2% vs 0.8%: previous 0.2% revised from 0.6%
  • #218,614
  • Mar 18, 2010 5:33am Mar 18, 2010 5:33am
Quoting Eulogy
Public borrowing 12.4B vs expected 14.6B: previous 0.0B revised from 4.3B

M4 money supply 0.2% vs 0.8%: previous 0.2% revised from 0.6%
exactly, its government borrowing, less is better?
  • #218,615
  • Mar 18, 2010 5:41am Mar 18, 2010 5:41am
Quoting ewokuk
exactly, its government borrowing, less is better?
not necessarily, the effect of this one is ambivalent at best. You could make the argument that increased government borrowing leads to greater fiscal stimulus which would boost the economy, and vice versa.
  • #218,616
  • Mar 18, 2010 5:48am Mar 18, 2010 5:48am
Quoting Eulogy
not necessarily, the effect of this one is ambivalent at best. You could make the argument that increased government borrowing leads to greater fiscal stimulus which would boost the economy, and vice versa.
surely not when all the focus is on reducing the govt debt?
  • #218,617
  • Mar 18, 2010 5:50am Mar 18, 2010 5:50am
139.3x area was a major daily level, we printing lower highs&lows, I believe in absense of additional big news we are about to visit 136's and then determine further directions
  • #218,618
  • Mar 18, 2010 5:58am Mar 18, 2010 5:58am
Quoting hindart
closed all my sorts ! will latter, currently out of this!

By the way scalp bought UJ @90.04
Good exit as of now, need to break 138.20 to go up., need to watch that spot again.
  • #218,619
  • Mar 18, 2010 7:58am Mar 18, 2010 7:58am
Quoting ewokuk
surely not when all the focus is on reducing the govt debt?
how is that relevant to the topic at hand?
  • #218,620
  • Mar 18, 2010 8:34am Mar 18, 2010 8:34am
alright, this is not going the way it should. they sure tested resistance... probably a lot of folks are short and need to be shaken out.
let's see where this is heading. imo, it should not go above 138.16 without a change in trend... so then we'll start buying again...
Nihil Sine Deo.
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