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

  • #223,961
  • May 9, 2010 6:14pm May 9, 2010 6:14pm
Quoting KeyframeHR
cup and handle on 15m easily visible, will go up now... or not this is "fun"
http://www.forexfactory.com/showthre...27#post3705527

I appreciate your enthusiasm but don't you thing that if you blew your account your should post less and read more?
Without a trade plan, say bye bye to your account & hello to frustration.
  • #223,962
  • Edited 7:03pm May 9, 2010 6:45pm | Edited 7:03pm
Quoting KillerWhale
long @ 136.15, target 137.50
Collected.
Next long > target 143.00 but that's gonna take some time.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #223,963
  • May 9, 2010 6:53pm May 9, 2010 6:53pm
Sorry, my bottom line was in the wrong place. Seeing 128.00 myself. @ least that's what I see in the charts.
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  • #223,964
  • May 9, 2010 7:41pm May 9, 2010 7:41pm
So if England decides to drop the pound and go with the Euro what does that do to the pound until it gets morphed or whatever?
  • #223,965
  • May 9, 2010 7:53pm May 9, 2010 7:53pm
I don't see the Britts. changing. If they can get the pound to 120. import would boost the economy. Euro is in worst shape, this is actually good for the Pound.

Quoting Cod
So if England decides to drop the pound and go with the Euro what does that do to the pound until it gets morphed or whatever?
  • #223,966
  • May 9, 2010 8:01pm May 9, 2010 8:01pm
Quoting SannaCBranno
I don't see the Britts. changing. If they can get the pound to 120. import would boost the economy. Euro is in worst shape, this is actually good for the Pound.
i would not put my real money on 120 just yet.... that weekly/daily spikes tell something... we can be in for a 1000 pip op north...

this weeks is def a no- go zone maybe the next 3 weeks is a no-go...

ill be conservative and trade the gbp/usd inverted H&S this week on 1 hour.. all what i can see ,but its not confirm yet

gbp/usd looks quiet bullish for the rest of the week,,
its only sunday,,so lets see,,things can change ina matter of a 1 hour candle..
  • #223,967
  • May 9, 2010 8:03pm May 9, 2010 8:03pm
Quoting SannaCBranno
I don't see the Britts. changing. If they can get the pound to 120. import would boost the economy. Euro is in worst shape, this is actually good for the Pound.
I wouldn't think they would either but some of the candidates that were elected are proponent of it and at the end of the day you have to think that is the "end game" as they say.

Just something to keep in mind as there are those in England in government now seeking this already.
  • #223,968
  • May 9, 2010 8:03pm May 9, 2010 8:03pm
Quoting Cod
So if England decides to drop the pound and go with the Euro what does that do to the pound until it gets morphed or whatever?
no way they want to change to Euro. If anything the problem with Greece has shown us, when your country has a problem you need to be able to devalue your currency to fix the problems. The Greeks aren't able to devalue they're currency to fix they're problems so they're screwed.
Without a trade plan, say bye bye to your account & hello to frustration.
  • #223,969
  • May 9, 2010 8:09pm May 9, 2010 8:09pm
I'm not sure if the pitchfork is welcomed here on Auslanco's board, but right now it looks like there is no diffenitive up or down trend-agreed? Right in the middle of chaos, that will probally be allieviated during Europe trading. 1974, last time there was a hung parliment. If they're given a 'figuratively' clean slate, there would be a lot to work with......that's just Sannastic Fundies......forget 'bout it. But yes, haven't wet my feet as of yet, still not a definate- just speculatiion.

And yes, I am on a real account, for about 3 years now.

Quoting fullhouse
i would not put my real money on 120 just yet.... that weekly/daily spikes tell something... we can be in for a 1000 pip op north...

this weeks is def a no- go zone maybe the next 3 weeks is a no-go...

ill be conservative and trade the gbp/usd inverted H&S this week on 1 hour.. all what i can see ,but its not confirm yet

gbp/usd looks quiet bullish for the rest of the week,,
its only sunday,,so lets see,,things can change ina matter of a 1 hour candle..
Attached Image (click to enlarge)
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  • #223,970
  • May 9, 2010 8:22pm May 9, 2010 8:22pm
Quoting fullhouse
this weeks is def a no- go zone maybe the next 3 weeks is a no-go...
What do you mean "no-go zone"
So far I've made 151 pips up and 99 pips down in the last 7 hours.
That's a total of 250 pips. I wish I could do that every day.
But at this moment I'm flat.
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  • #223,971
  • May 9, 2010 8:24pm May 9, 2010 8:24pm
Good job, KillerWhale.

Quoting KillerWhale
What do you mean "no-go zone"
So far I've made 151 pips up and 99 pips down in the last 7 hours.
That's a total of 250 pips. I wish I could do that every day.
But at this moment I'm flat.
  • #223,972
  • May 9, 2010 8:52pm May 9, 2010 8:52pm
Quoting SannaCBranno
Good job, KillerWhale.
Thanks,

At this moment I'm short @ 137.95 because gy has a very hard time getting past 138. I do believe we will have a retrace here. 250 pips up in a Sunday session is as much as it gets I think. How far of a retrace? I don't know in this crazy market but I've set my target @ 137.00

Shamu
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  • #223,973
  • May 9, 2010 9:03pm May 9, 2010 9:03pm
IF it retraces, i think tokyo open @ 136.50 is a good target...

Quoting KillerWhale
Thanks,

At this moment I'm short @ 137.95 because gy has a very hard time getting past 138. I do believe we will have a retrace here. 250 pips up in a Sunday session is as much as it gets I think. How far of a retrace? I don't know in this crazy market but I've set my target @ 137.00

Shamu
Nihil Sine Deo.
  • #223,974
  • May 9, 2010 9:14pm May 9, 2010 9:14pm
Quoting Scrat
IF it retraces, i think tokyo open @ 136.50 is a good target...
I was just studying charts and I believe you're right.
Adjusted my target to 136.65. I don't wanna be too greedy.
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  • #223,975
  • May 9, 2010 9:51pm May 9, 2010 9:51pm
Quoting KillerWhale
Just wondering, maybe this is one of those very rare Sunday's that the GAP is not going to close. At least not today.
There is no gap - there's just the majority of us who's brokers open 5pm or 6pm EST, while the global market opens somewhere around 1 or 2pm EST, so we have a gap on our charts, which peeves me off to no end, because it breaks TLs and expected PA that I'm not able to see.

Regardless, from my 5pm broker open view, I see that GJ "gap" as having been closed, and GU, UJ didn't have one while EJ's been flying.

Hope everyone's reading their news for the fundamental perspective. The EU had their finance dude Olli up at the Godly hour of 2am Monday morning (3 hrs ago), to announce $1 Trillion of eurobond purchase & other aid. It all sounds very encouraging and non-(fumbling)-EU like, which is why most things are flying, and previous pundits are wowed. So the intended effect will definitely be immediate and mid-term positive, how much lasting power it'll have until the next EU country sneezes is questionable. In theory it has little to do with the UK state and poor ol' sterling, but both sterling and yen crosses have and are likely to further rally; all global present and future indicies are up. (Get this one: US Futures are showing their strongest pre-opening levels since LAST JULY!!!)

So, we've probably got a huge wick from that Thursday 'crash', which further implies it was engineered, and screwed many people out of unbelievable wealth, only to have the move undone, and the wealth transfered to the scum that orchestrated it, at bargain basement prices. But rest assured they'll repeat it, with a different tinge, enough to confuse those who think it'll unfold like the last one, which it won't.

P.S. - KillerWhale - fantastic pip profits & trading in the forward posts. I like others here, am seeing GJ with a completely different personality, and undertaking PA it never would have, and I don't see volume difference on my ECN LQ feed, sure some of it is driven by the double spreads on GJ, but that's not because of you and me, but because of the new norm that the cybermonkeys have set up - the big boys have reprogrammed the algos to change the game rules. I am likely to sit out the next week as well, partially to heal leaving $$$ on the table at first, and then heal from some lost coin on a large misjudge on the shenanigans of Thursday.
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  • #223,976
  • May 9, 2010 10:06pm May 9, 2010 10:06pm
Quoting Beljevina
There is no gap - there's just the majority of us who's brokers open 5pm or 6pm EST, while the global market opens somewhere around 1 or 2pm EST, so we have a gap on our charts, which peeves me off to no end, because it breaks TLs and expected PA that I'm not able to see.
You are absolutely right.
I trade with Oanda and I never have a gap.

Only I use MT4 for charting and that shows a 20 pip gap that is normally filled within a few hours. Not this time though. And I don't expect it to fill anytime soon.
My bias is up, all though I'm short at this moment.
Let me get the retrace and then I'll be long again.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #223,977
  • May 9, 2010 10:24pm May 9, 2010 10:24pm
Quoting KillerWhale
You are absolutely right.
I trade with Oanda and I never have a gap. Only I use MT4 for charting and that shows a 20 pip gap that is normally filled within a few hours. Not this time though. And I don't expect it to fill anytime soon. My bias is up, all though I'm short at this moment. Let me get the retrace and then I'll be long again.
I didn't realize Oanda opens at 1 or 2pm EST - will have to look into that.

If you're seeing a 20 pip gap, I'd humbly submit that once you factor in the spread on GJ - normally 6-9 pips for most brokers, and I suspect more than double that since Thursday, the gap's been pretty much closed.

Just another side/perspective/marketing note on the EU $1 Trillion QE package: the US bank bailout was $750B. The EU knew their name was mud, and they had to do something, so the non-cynical marketing of this package in theory should give good bullish mileage.

I'm just not sure how that should relate to sterling; GJ's done 220/300 pips in Asia, we'll (hopefully) dip to the 50/38.2 retrace now, but I agree 138 is strong going up, and I see 139.2 as a weak ceiling heading up. Not sure of the London PA direction, but if the marketing of this EU QE prevails, the yen crosses will rally for NY's session. IMHO, if GY blows past 138, 138.7 is a strong TL from the down move that it needs to get over, and then 140.3 is a strong top. If it gets there, it does leave one head-scratching on what the hell did we need to move down for? (I'll leave it to everyone to insert their cynical & conspiracist reasons here.)
  • #223,978
  • May 9, 2010 10:26pm May 9, 2010 10:26pm
oanda never has gaps.

there was a gap between ny close on friday and new zealand open today, and on my charts it is not closed yet.

Quoting KillerWhale
You are absolutely right.
I trade with Oanda and I never have a gap.

Only I use MT4 for charting and that shows a 20 pip gap that is normally filled within a few hours. Not this time though. And I don't expect it to fill anytime soon.
My bias is up, all though I'm short at this moment.
Let me get the retrace and then I'll be long again.
Nihil Sine Deo.
  • #223,979
  • May 9, 2010 10:26pm May 9, 2010 10:26pm
Quoting PipinStein
no way they want to change to Euro. If anything the problem with Greece has shown us, when your country has a problem you need to be able to devalue your currency to fix the problems. The Greeks aren't able to devalue they're currency to fix they're problems so they're screwed.
Yeah I don't think they'll join the Euro any time soon.
  • #223,980
  • May 9, 2010 10:27pm May 9, 2010 10:27pm
Quoting Scrat
oanda never has gaps.

there was a gap between ny close on friday and new zealand open today, and on my charts it is not closed yet.
Oanda is crap.
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