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

  • #221,881
  • Apr 21, 2010 2:12pm Apr 21, 2010 2:12pm
did anybody else see the YM collapse 30 points immediately after DJIA close
  • #221,882
  • Apr 21, 2010 2:25pm Apr 21, 2010 2:25pm
Quoting Geppy
GBP/JPY almost always moves more than U/J... the latter is just too slow and boring for me. Also, I don't want to to short both because then I'm simply betting on the same thing (Yen strength) and doubling my risk exposure...
Well I see bearish signals on UJ/GU and GJ so I entered shorts on all 3 of them.
Something has to be terrible right or wrong tomorrow morning

Goodnight everyone.....
Don't be a hero. Don't have an ego. Always question yourself
  • #221,883
  • Apr 21, 2010 2:37pm Apr 21, 2010 2:37pm
Quoting Eulogy
did anybody else see the YM collapse 30 points immediately after DJIA close
No I didn't... were you looking at futures I take it?
check out my blog: forexmademillionaire dot com
  • #221,884
  • Apr 21, 2010 2:42pm Apr 21, 2010 2:42pm
Quoting Geppy
No I didn't... were you looking at futures I take it?
YM = dow mini futures
  • #221,885
  • Apr 21, 2010 2:45pm Apr 21, 2010 2:45pm
Quoting Eulogy
YM = dow mini futures
yeah, looking at Bloomy right now and showing -23
check out my blog: forexmademillionaire dot com
  • #221,886
  • Apr 21, 2010 2:50pm Apr 21, 2010 2:50pm
Looks like a piranha...but will it bite me?

M5 chart leading to where?
Attached Image (click to enlarge)
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  • #221,887
  • Apr 21, 2010 3:12pm Apr 21, 2010 3:12pm
Quoting Jake Snake
Looks like a piranha...but will it bite me?

M5 chart leading to where?
Just catch that thing by the tail and you'll be alright!
  • #221,888
  • Apr 21, 2010 3:25pm Apr 21, 2010 3:25pm
Quoting Geppy
Ugh... sorry for the multiple posts guys but the more I zoom out and really take a look at what's going on with the daily chart the more I feel like we could be in for a serious drop... like 1,000+ pips.

The DOW seems precarious at these levels and volatility has been very low. A correction is over due in my opinion and it seems there could be more poor news that surfaces whether regarding Goldman, Greece, etc. or something else that could drive a little bit of a panic.

A scenario like this wouldn't surprise me in the least.
You are so precisely right on this and I'd been (and still) do talk/think/expect something on this, but the (damn) DOW and the US/WW indexes have been at this "it can't go higher point" for months now ... optimism, hope & neverending desire for economic betterment seem to be driving it higher. Your point is very relevant, and Ashraf's written about it too here (April 19th entry): the VIX index is regarded as a good barometer of overall market sentiment, but my unscientific monitoring over the last many months shows it to be disregarded ... that tells me that when investors are sufficient spooked, it will become incredibly foretelling, and, the drop could be big ... mind you, we could be waiting/ranging/consolidating through the summer.

I think it's going to hold out ranging or going higher 'till just after the UK elections ... I think we could then be looking at a real UK crisis, which hasn't been the case for about a year. Past EUR & GBP patterns tell us that sterling's (major) fall comes as an aftermath to a major EUR fall, and I think the UK pre-election euforia ceasing might be the pre-cursor to GBP's fall.

Sterling has no real and sole dynamic in my mind: it's either on the JPY-cross train or it's being reactionary to GU, thus also driven by the USD portion of the UJ relationship. Since our (really unjustified) 131 bounce, this week's dip to 139.2 gave us the strongest yet H4 doji candle thingy - of the greatest height since 131 - and until it reapproaches that area, I see midterm bullish as the strongest option. Regardless of direction, when GY gets moving, we should be able to climb aboard & figure out it's trajectory - that's the beauty of trading it!
  • #221,889
  • Apr 21, 2010 3:39pm Apr 21, 2010 3:39pm
my ea went from 140 to 144, and now its selling wildly

something is cooking here, it takes 10 trades only when its dead sure of the direction, otherwise it takes just 1 or 2 trades in sideways market.

http://img217.imageshack.us/img217/1144/88412307.gif
  • #221,890
  • Apr 21, 2010 4:25pm Apr 21, 2010 4:25pm
Quoting forexlion
my ea went from 140 to 144, and now its selling wildly

something is cooking here, it takes 10 trades only when its dead sure of the direction, otherwise it takes just 1 or 2 trades in sideways market.

http://img217.imageshack.us/img217/1144/88412307.gif
What EA? What threshold is causing it to sell? What's the barrier it's reached?
  • #221,891
  • Apr 21, 2010 4:45pm Apr 21, 2010 4:45pm
Quoting Beljevina
What EA? What threshold is causing it to sell? What's the barrier it's reached?
i will let you know when i find out myself why it sold
  • #221,892
  • Apr 21, 2010 5:00pm Apr 21, 2010 5:00pm
im gonna stick a finger into the air and say we going to see close to 140 by NY close friday
  • #221,893
  • Apr 21, 2010 5:05pm Apr 21, 2010 5:05pm
Quoting lexazver
im gonna stick a finger into the air and say we going to see close to 140 by NY close friday
Tomorrow is Thursday, we still have two more days... that could be a conservative estimate.
check out my blog: forexmademillionaire dot com
  • #221,894
  • Apr 21, 2010 5:06pm Apr 21, 2010 5:06pm
Quoting Geppy
Tomorrow is Thursday, we still have two more days... that could be a conservative estimate.
conservative
  • #221,895
  • Apr 21, 2010 5:10pm Apr 21, 2010 5:10pm
any break below 143 and dragon will be singing songs
we might test this week's low, probably even 136
  • #221,896
  • Apr 21, 2010 5:10pm Apr 21, 2010 5:10pm
Finally, it look like we broke the trendline.
Its about time coz I'm heavy short @ 1.4349.
Now lets go all the way to 1.37 before the weekly close, and I'll have a very happy weekend.
Attached Image (click to enlarge)
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #221,897
  • Apr 21, 2010 5:13pm Apr 21, 2010 5:13pm
Quoting forexlion
conservative
why funny?
check out my blog: forexmademillionaire dot com
  • #221,898
  • Apr 21, 2010 5:17pm Apr 21, 2010 5:17pm
Quoting Geppy
why funny?
nutin special, just the word conservative for dragon cracked me up
  • #221,899
  • Apr 21, 2010 5:42pm Apr 21, 2010 5:42pm
4h evening star formed..
goes down; first 141 then may go bottom wall of the channel
hope this crazy pair respect this evening star and long legged bars:-)
good trading
Attached Image (click to enlarge)
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  • #221,900
  • Apr 21, 2010 5:47pm Apr 21, 2010 5:47pm
Quoting forexlion
my ea went from 140 to 144, and now its selling wildly

something is cooking here, it takes 10 trades only when its dead sure of the direction, otherwise it takes just 1 or 2 trades in sideways market.

http://img217.imageshack.us/img217/1144/88412307.gif
im selling wildly too , im completely sure it's going down, but not sure why
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