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

  • #224,701
  • May 16, 2010 7:53pm May 16, 2010 7:53pm
Also wanted to post the M30 volume chart: volumes in this Asia session are almost 3x what they normally would be, and, it would almost appear there is buying interest in this last hour. Not sure what VSA would prescribe in this type of a strong down move, but certainly there's a huge amount of shorting/selling volume in those bars. I guess we'll wait and see if 130.8 can be won out by bulls and give a temporary bounce. Notable also to say that London usually reverses Asia moves - perhaps we'll see a double bottom bounce to 129 and then up for short reloading.
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  • #224,702
  • May 16, 2010 8:00pm May 16, 2010 8:00pm
Quoting direct-trade
http://www.forexfactory.com/showpost...postcount=6136
Cable:
Longs were scaled in at 14695 and 14670, currently -140, targets 148, 150, 152 and above. Will be moved to BE at 148.
[font=Calibri][size=3]Everyone is short, so it would be rude of me not to take the opposite side, particularly when everyone is still selling at the bottom of a 500 pip move with no retracement. Does it have to retrace? No, but put it this way,...
  • #224,703
  • May 16, 2010 8:10pm May 16, 2010 8:10pm
  • #224,704
  • May 16, 2010 9:05pm May 16, 2010 9:05pm
Quoting Fudomyo
he forgot maybe to check higher TF where weekly=monthly=bear and sell all rallies.

So mine GU long term target reach since i quick from quicksilver...so and EU at 1.2280 since I quick from EURUSD thread as well...

hope one more last target in GY then i may quick from auslonko as well....still

I bet with fullhause and he sure love to see that target..come baby

cheers

g
  • #224,705
  • May 16, 2010 9:12pm May 16, 2010 9:12pm
Quoting grashid
he forgot maybe to check higher TF where weekly=monthly=bear and sell all rallies.

So mine GU long term target reach since i quick from quicksilver...so and EU at 1.2280 since I quick from EURUSD thread as well...

hope one more last target in GY then i may quick from auslonko as well....still

I bet with fullhause and he sure love to see that target..come baby

cheers

g
huh grashid what bet are we on ?? what target..i hope you cash some on the shorts >>
  • #224,706
  • May 16, 2010 9:16pm May 16, 2010 9:16pm
Quoting kourtney
agreed not even a dip ...just went down gradually and i think will do the same for the next few hours. and i think actually tonight we will se a smal dump.

Clouds if ur question is how hiugh will the correction be...I think wont be higher than 135.25
I would take a correction just to 134.30 again. Actually, any sizable correction is good with me but I don't think we'll see it. It's looking like a one-way ticket to 129.60. All I can do now is watch this bear run and can only hope that it retraces. Otherwise it's a start to sour week for me missing out on a great short.
  • #224,707
  • May 16, 2010 9:20pm May 16, 2010 9:20pm
A valuable lesson I learn from this is that I can always close my short before the weekend but re-enter new short right away at the open from the new week. That way I can avoid holding the position over the weekend but still stay in the short.
  • #224,708
  • May 16, 2010 9:25pm May 16, 2010 9:25pm
Quoting fullhouse
huh grashid what bet are we on ?? what target..i hope you cash some on the shorts >>
your GY 118. Forgot? Cash on this short...aah no trade...still lazy to trade
  • #224,709
  • May 16, 2010 9:25pm May 16, 2010 9:25pm
Quoting $teve
A valuable lesson I learn from this is that I can always close my short before the weekend but re-enter new short right away at the open from the new week. That way I can avoid holding the position over the weekend but still stay in the short.

ive learn that lesson very well..i was long eur/usd over weekend ,,up 800 pips ,,then they capture for suddham housain on the saturday,and eur/usd gap 1500 pips below my entry.... and i closed it immedialtely on open,,and it retrace all the way back ,plus another 500 pips .... stupid from me,,but oh well i learn something..
  • #224,710
  • May 16, 2010 9:34pm May 16, 2010 9:34pm
Quoting grashid
your GY 118. Forgot? Cash on this short...aah no trade...still lazy to trade
yip you bet we wont see below...i cant also see that it wont happen..but gbp/usd target now 1.35 ,,i cant see it will bottom before ..

its a touch and go situation on gbp/jpy ..i have a low of 123.80 ... thats my LAST low...

i dont know if you look at other jpy crosses... they still got a hell of a lot to go to the downside,,and that will let gbp/jpy break 118 ...especially aud/jpy ...
  • #224,711
  • May 16, 2010 9:37pm May 16, 2010 9:37pm
Quoting fullhouse
yip you bet we wont see below...i cant also see that it wont happen..but gbp/usd target now 1.35 ,,i cant see it will bottom before ..

its a touch and go situation on gbp/jpy ..i have a low of 123.80 ... thats my LAST low...

i dont know if you look at other jpy crosses... they still got a hell of a lot to go to the downside,,and that will let gbp/jpy break 118 ...especially aud/jpy ...
  • #224,712
  • May 16, 2010 9:45pm May 16, 2010 9:45pm
i heard some big names are shorting usd /yen to parity.


  • #224,713
  • May 16, 2010 9:48pm May 16, 2010 9:48pm
you have to think ej is going down to test 98 and that should be enough to take gj down for the week too i would think.
  • #224,714
  • May 16, 2010 9:50pm May 16, 2010 9:50pm
Could this be the retrace finally? I hate these head fakes. It's looking like it's finally going up only to get slam back down twice as hard. I'm setting my sell limit at 134.30 and taking a nap. It's probably won't get trigger but I don't care. I hate trading.

ps. Depending on how 129 holds, I think we'll just see a bounce back to 131 and eventually 129 might get broken as well, then 125, 118, 1.
  • #224,715
  • May 16, 2010 9:53pm May 16, 2010 9:53pm
Is it retracing now? Hopefully
Shit Happens
  • #224,716
  • May 16, 2010 9:55pm May 16, 2010 9:55pm
Quoting act333
Is it retracing now? Hopefully
to 132 it did.
  • #224,717
  • May 16, 2010 10:10pm May 16, 2010 10:10pm
This is good spot to consider long on cable,
healthy pullback is more than needed.

1.47-1.48 -first res zone if broken then
1.54-1.55 as second res zone

if current level broken(e.g. stocks crash) nothing left much till double bottom pattern which is perfectly aligning with fibs from all major retracement so far (marked on chart).
From that point we can expect some bigger correction unless more shit hit the fan and cable will make new low arround 1.2 - 1.15 my targets since last years.
We'll see.

There is no hurry to jump in on long side yet but would be smart to take partial profit here if someone is selling from 1.47 level and 1.52
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  • #224,718
  • May 16, 2010 10:26pm May 16, 2010 10:26pm
Quoting 5ysfx
This is good spot to consider long on cable,
healthy pullback is more than needed.

1.47-1.48 -first res zone if broken then
1.54-1.55 as second res zone

if current level broken(e.g. stocks crash) nothing left much till double bottom pattern which is perfectly aligning with fibs from all major retracement so far (marked on chart).
From that point we can expect some bigger correction unless more shit hit the fan and cable will make new low arround 1.2 - 1.15 my targets since last years.
We'll see.

There is no hurry to jump in on long...
but it's going down. so why go long again?
  • #224,719
  • May 16, 2010 10:33pm May 16, 2010 10:33pm
Quoting Clouds
but it's going down. so why go long again?

alot here try to pick tops and bottoms... and some of us used to trade like this,,but you learn later to wait for confirmations etc..
  • #224,720
  • May 16, 2010 10:36pm May 16, 2010 10:36pm
Quoting Clouds
but it's going down. so why go long again?
Good Afternoon, Clouds. Nice pushing down GJ, resistant@132. no above it, we're way to new low
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