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

  • #220,421
  • Apr 7, 2010 6:37pm Apr 7, 2010 6:37pm
Quoting Geppy
Mike, for the last two days you've been sending me PMs asking why 14x.xx, why 14x.xx

I've explained it to you each time as politely and as well as I can.
Actually you didn't.That's why I have to ask again.

But does it matter if you tell all of us once more please?

Thank you so much
Mike
Failure, is a wonderful teacher!
  • #220,422
  • Apr 7, 2010 7:00pm Apr 7, 2010 7:00pm
Just put these on ... And all will be made clear to you.
Quoting mike1349
Actually you didn't.That's why I have to ask again.

But does it matter if you tell all of us once more please?

Thank you so much
Mike
Attached Image
  • #220,423
  • Apr 7, 2010 7:05pm Apr 7, 2010 7:05pm
In H1 it toughs the 2 days-low bottom. It needs to rebound soon. Any one loves to long now?
  • #220,424
  • Apr 7, 2010 8:15pm Apr 7, 2010 8:15pm
I see price testing 142.00 to 142.20 for resistance ATM if that holds i think a dip and a sharp strike upwards to form a double top in that area and we resume this move down. I will consider adding to my short position in that area when the re-test occurs OR on the break of 141.80 and restest of that area. Sorry i didn't mention yesterday i took the small double top short off the 143.80 area on my own accord (with help from this thread) and also some one mentioned the bottom of the gap...grashid? not sure. Anyway some pips locked in and looking to ad to this position. I like Q's target but have 160 on the table with 20 locked in. anyway im a newb and have blown up many accounts so i guess we'll see. Im going for wings cuase its wing wednesday LOL
Quoting Pham
In H1 it toughs the 2 days-low bottom. It needs to rebound soon. Any one loves to long now?
  • #220,425
  • Apr 7, 2010 8:23pm Apr 7, 2010 8:23pm
I was just reading on Bloomberg.. Posted April 8th.. (well it is April 8th here were I am too..) That Greece might default on their loan and that many big investors were buying the yen as a safe haven. I also read that the U.K. might start being pushed into a recession. So how do these fundamentals affect your Technical analysis on your charts?

By the way, I am a newbie, so lots of questions.
Luck has no place in trading. Leave that for the poker table.
  • #220,426
  • Apr 7, 2010 9:22pm Apr 7, 2010 9:22pm
Quoting Geppy
I just covered about 40% of my shorts down here and am looking to put them back on at 142.60... it looks like we could see a little pop up on some of the lower time frames before a resumption lower.
Changed entry to 142.50
check out my blog: forexmademillionaire dot com
  • #220,427
  • Apr 7, 2010 9:24pm Apr 7, 2010 9:24pm
Quoting Geppy
Changed entry to 142.50
May I ask why?

Any charts ?
Failure, is a wonderful teacher!
  • #220,428
  • Apr 7, 2010 10:08pm Apr 7, 2010 10:08pm
any thoughts on the 4 hour ... will it roll over here or at the 141 level?
  • #220,429
  • Apr 7, 2010 10:08pm Apr 7, 2010 10:08pm
there you go. important resistance levels from yesterday.
as long as we stay below 142.58, immediate trend is bearish.

Quoting mike1349
May I ask why?

Any charts ?
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Nihil Sine Deo.
  • #220,430
  • Apr 7, 2010 10:40pm Apr 7, 2010 10:40pm
I would look to add short position if a retracement to 142.40-50 area occurs for initial targets of 141 and 140.5...
Traderdesk -
  • #220,431
  • Apr 7, 2010 10:44pm Apr 7, 2010 10:44pm
G/J. we go down, deep down when we close below 4180.
Its all in the mind.
  • #220,432
  • Apr 7, 2010 11:22pm Apr 7, 2010 11:22pm
141.77 seems to be a strong support at the moment ....2 tries so far....yesterday low and todays current PA.....it's making me nervous....i have shorting from....144.XX and 143.XX....
  • #220,433
  • Apr 7, 2010 11:33pm Apr 7, 2010 11:33pm
nice! got in just a little below from that, my tp target is 140.5 (around s2 and other fib clusters), price is holding in my channel utl/ Descending staircase pattern, but we need to break 141.8 support (also weekly center pivot) i believe its gonna break in one direction or the other, I put a tight SL if it breaks north.

Quoting Mr.Elliott
141.77 seems to be a strong support at the moment ....2 tries so far....yesterday low and todays current PA.....it's making me nervous....i have shorting from....144.XX and 143.XX....
  • #220,434
  • Apr 7, 2010 11:54pm Apr 7, 2010 11:54pm
Something to consider ... and if the noted crosses get dumped, I don't see why GY wouldn't be in the same lot.

On my personal expectations, 141.77 has been support over the last hours and I'd say holding only because the Asia session infrequently does 100 pips down, on extremely low volume, so their work is done. Nikkei losses are also probably resulting in a flight to the yen. GY's had three tries on dropping through 141.77, and the PA looks extremely bearish. London may open with a pop up perhaps as high as the DPP around 142.6, and with no confirmed buying interest - and continued selling into up bars like seems to have been the case in Asia - we should drop through 141.77, hopefully traveling the 100+ pips to 140.6. Combined with the toppiness of major US indexes, we may see that drop down to the 139.x zone pretty quickly: don't forget that GJ has a tendendcy to freefall down to that zone fairly quickly, ie., 30-50 pips per M5 bar. Now, the article:

Important Developments In JPY Crosses - By Sean Lee || April 8, 2010 at 00:02 GMT

Goldman Sachs is up to something. They either know something or are taking a big punt and they generally do not do this without some very good information. They have been heavy sellers of EUR/JPY, AUD/JPY and USD/JPY over the past 24 hours. I can only speculate that this has something to do with Greece or China (or a double-whammy of both!). Don’t be surprised to see them issue a sell recommendation in the next day or so!
(edit) I should add that an excellent point from Solange is that some of GS’s senior traders have left the firm in the last few days and Goldies might well be unwinding some existing positions. Perhaps we shouldn’t read too much into the selling just yet.

  • #220,435
  • Apr 7, 2010 11:59pm Apr 7, 2010 11:59pm
crappy 41180 holdin iy up

Quoting 5abi
G/J. we go down, deep down when we close below 4180.
Its all in the mind.
  • #220,436
  • Apr 8, 2010 12:01am Apr 8, 2010 12:01am
Don't forget that today we have GBP news that will affect PA. If the news is not good for GBP then that will give the impetus needed to break lower even in spite of O/S readings....
Traderdesk -
  • #220,437
  • Apr 8, 2010 12:03am Apr 8, 2010 12:03am
Quoting Traderdesk
Don't forget that today we have GBP news that will affect PA. If the news is not good for GBP then that will give the impetus needed to break lower even in spite of O/S readings....

if it good i lose money today
Its all in the mind.
  • #220,438
  • Apr 8, 2010 12:38am Apr 8, 2010 12:38am
Quoting just_ha
nice! got in just a little below from that, my tp target is 140.5 (around s2 and other fib clusters), price is holding in my channel utl/ Descending staircase pattern, but we need to break 141.8 support (also weekly center pivot) i believe its gonna break in one direction or the other, I put a tight SL if it breaks north.
Lolz, can you please explain to me what a tight s/l is for this pair?
Is that 20 pips or a 100 pips?
They both seem tight to me.

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #220,439
  • Apr 8, 2010 12:45am Apr 8, 2010 12:45am
Sorry! very tight, as in 50 pips, above the H1 Gans. But i'll determine depending on momentum. I'll take my pips off the table and leave a small portion to run and push my sl back up , in this case above daily pivot and wait for another setup.

Quoting KillerWhale
Lolz, can you please explain to me what a tight s/l is for this pair?
Is that 20 pips or a 100 pips?
They both seem tight to me.

Shamu
  • #220,440
  • Apr 8, 2010 1:02am Apr 8, 2010 1:02am
Quoting just_ha
Sorry! very tight, as in 50 pips, above the H1 Gans. But i'll determine depending on momentum. I'll take my pips off the table and leave a small portion to run and push my sl back up , in this case above daily pivot and wait for another setup.
thanks
New voice message: Why are you calling me? If I need you, I'll call you!
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