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

  • #221,121
  • Apr 15, 2010 9:40am Apr 15, 2010 9:40am
Quoting Ben920FX
Northbound
Up upNorth and away
My edge ===> Patience
  • #221,122
  • Apr 15, 2010 9:40am Apr 15, 2010 9:40am
wow.... this weekend geppy playing zig zag.... still thinking should i closed at 145.xx instead of 148.xx anyone can give me advice?
thanks....
row row row your boat
  • #221,123
  • Apr 15, 2010 9:44am Apr 15, 2010 9:44am
Quoting ukdaytrader
I've never seen such strange PA since I started trading. The amount of 100% retracements has been staggering...... and very very manipulative.
Agreed, it has been nutty... I shorted into this upmove though.
check out my blog: forexmademillionaire dot com
  • #221,124
  • Apr 15, 2010 9:44am Apr 15, 2010 9:44am
There is a very similar set of patterns at the end of Oct. and the beginning of Jan.

If memory serves me correct, the end of each were the following:

Oct. - Dubai

Jan. - Obama confronting the US banks - which was an excuse for a market correction.

If 145 is not breached, then I would assume that there is something lerking around the corner from a fundamental standpoint that is dampening an all out bullish move. The general argument, of course, is the general state of the global economy.

NM

Quoting ukdaytrader
I've never seen such strange PA since I started trading. The amount of 100% retracements has been staggering...... and very very manipulative.
  • #221,125
  • Apr 15, 2010 9:46am Apr 15, 2010 9:46am
Also, if anyone is interested... I had EUR/USD shorts from 1.3640 and took them off this morning near the lows although I was targetting 1.3487

I've got a new sell order in for 1.3582 with a target still of 1.3487... lets close that gap!
check out my blog: forexmademillionaire dot com
  • #221,126
  • Apr 15, 2010 9:48am Apr 15, 2010 9:48am
agree about oct 2009 and jan2010 same pattern i said bfore...you seeing same picture go down or not?GL


Quoting next-move
There is a very similar set of patterns at the end of Oct. and the beginning of Jan.

If memory serves me correct, the end of each were the following:

Oct. - Dubai

Jan. - Obama confronting the US banks - which was an excuse for a market correction.

If 145 is not breached, then I would assume that there is something lerking around the corner from a fundamental standpoint that is dampening an all out bullish move. The general argument, of course, is the general state of the global economy.

NM
  • #221,127
  • Apr 15, 2010 9:50am Apr 15, 2010 9:50am
Quoting JhonMonsalve

Wow, what a nice pullback, overall is bearish day, take a look to this 15m B. Div.

Attachment
very nice!

I'm loving this, very predictable day so far.
144 break to the upside added some decent pips. Out of my long for now. Watching if the 28sma and Gann flip hold on the 1H for next move. 15M toppy, but 1H still has some legs on it.
Attached Image (click to enlarge)
Click to Enlarge Name: z7.gif Size: 24 KB
  • #221,128
  • Apr 15, 2010 9:51am Apr 15, 2010 9:51am
i seen such move bfore,GL


Quoting ukdaytrader
I've never seen such strange PA since I started trading. The amount of 100% retracements has been staggering...... and very very manipulative.
  • #221,129
  • Apr 15, 2010 9:53am Apr 15, 2010 9:53am
Quoting ukdaytrader
I've never seen such strange PA since I started trading. The amount of 100% retracements has been staggering...... and very very manipulative.
Agreed. As a newcomer to GBP/JPY this has been exciting but also frustrating.

I really have no clue where it's going and as you mentioned something is manipulating this beast. This doesn't look like the market trading I've previously known.

I'm scalping (I usually do medium term trading) at the moment and leaving no trades open during Sydney/Tokyo for this pair.
  • #221,130
  • Apr 15, 2010 9:55am Apr 15, 2010 9:55am
well everyone today jpy is not weak....just gbp strong today tomorrow big news coming....tonight big move possible in jpy pairs...GL
  • #221,131
  • Apr 15, 2010 9:56am Apr 15, 2010 9:56am
simply watch jpy crosses ithink...gbp is easy crossing of jpy..._GL


Quoting Jake Snake
Agreed. As a newcomer to GBP/JPY this has been exciting but also frustrating.

I really have no clue where it's going and as you mentioned something is manipulating this beast. This doesn't look like the market trading I've previously known.

I'm scalping (I usually do medium term trading) at the moment and leaving no trades open during Sydney/Tokyo for this pair.
  • #221,132
  • Apr 15, 2010 10:05am Apr 15, 2010 10:05am
I have no clue where it is going.

The action is looking more like a desparate ending diagonal, which would suggest a quick drop. However, do not be surprised if the price pops over the 200 daily SMA even for a day and then goes back down. A quick drop could also be followed up with another surge.

One thing that is sticking in the back of my mind is that in March someone purchased a large order of 6-month puts at the 1.44 level in Cable or GBP/USD.

For a thread, see: http://www.forexlive.com/92457/all/u...ble-puts-today

These kinds of stories always seem to end up to come true. I remember a similar report of someone who bought $66 puts on the SPY in the equities market in Jan of 2009 (when it was at $95) and low and behold $66 was hit three months later.

NM

Quoting Mush
agree about oct 2009 and jan2010 same pattern i said bfore...you seeing same picture go down or not?GL
  • #221,133
  • Apr 15, 2010 10:10am Apr 15, 2010 10:10am
Quoting Geppy
Also, if anyone is interested... I had EUR/USD shorts from 1.3640 and took them off this morning near the lows although I was targetting 1.3487

I've got a new sell order in for 1.3582 with a target still of 1.3487... lets close that gap!

Filled.
check out my blog: forexmademillionaire dot com
  • #221,134
  • Apr 15, 2010 10:11am Apr 15, 2010 10:11am
well now guys ur charts not working?isaid end of trend 145.....now see....everyone was telling me chart and this and that..this is another big thursday....GL


Quoting next-move
I have no clue where it is going.

The action is looking more like a desparate ending diagonal, which would suggest a quick drop. However, do not be surprised if the price pops over the 200 daily SMA even for a day and then goes back down. A quick drop could also be followed up with another surge.

One thing that is sticking in the back of my mind is that in March someone purchased a large order of 6-month puts at the 1.44 level in Cable or GBP/USD.

For a thread, see: http://www.forexlive.com/92457/all/u...ble-puts-today...
  • #221,135
  • Apr 15, 2010 10:13am Apr 15, 2010 10:13am
I am not sure what you mean about 'ur charts not working'.

All I am saying is that I do not know where it is going.

I take a more reactionary (conservative?) approach. Geppy is so volatile, there is something for everyone.

NM


Quoting Mush
well now guys ur charts not working?isaid end of trend 145.....now see....everyone was telling me chart and this and that..this is another big thursday....GL
  • #221,136
  • Apr 15, 2010 10:17am Apr 15, 2010 10:17am
Quoting Fudomyo
very nice!

I'm loving this, very predictable day so far.
144 break to the upside added some decent pips. Out of my long for now. Watching if the 28sma and Gann flip hold on the 1H for next move. 15M toppy, but 1H still has some legs on it.
Cable looks toppy now, let's see
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #221,137
  • Apr 15, 2010 10:19am Apr 15, 2010 10:19am
im not asking only you im asking everyone..everyone has own charts....
donot worry....ithink short is good idea...im just seeing drop scene and big drop...ihope im not wrong...GL


Quoting next-move
I am not sure what you mean about 'ur charts not working'.

All I am saying is that I do not know where it is going.

I take a more reactionary (conservative?) approach. Geppy is so volatile, there is something for everyone.

NM
  • #221,138
  • Apr 15, 2010 10:22am Apr 15, 2010 10:22am
ithink nzdjpy audjpy and chfjpy more good idea today...any view welccome,GL
  • #221,139
  • Apr 15, 2010 10:22am Apr 15, 2010 10:22am
Quoting ukdaytrader
I've never seen such strange PA since I started trading. The amount of 100% retracements has been staggering...... and very very manipulative.
Glad I'm not the only one. Truth be told, the last 12 hours has been easier/classic GY trading, perhaps because I've felt the 145 top, holding resistance & session significant retrace were occurring. My last sentiment was bullish for various TA and non-TA reasons and still stands until we see some significant signs that a breach or approach to 134 is in the cards; but should it get there, we'll be having a similar debate, thus, short term profits and day trading is what's prevailing for me.
  • #221,140
  • Apr 15, 2010 10:28am Apr 15, 2010 10:28am
I believe Mr. Sorros has thrown his prediction into motion about the devaluation of the Pound. Big wallet dropping it like a rock!!!
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