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

  • #224,821
  • May 17, 2010 9:11am May 17, 2010 9:11am
Q, was gonna PM you this but you don't receive them so... I just wanted to commend you on the nice analysis lately. I know we got a bit heated the other week, but I mean no disrespect and acknowledge you as one of the few good traders on FF.

Yes, I thought we would see more of a retracement and I was very wrong. Luckily I got out with minimal damage and a nice reminder why counter trend trades don't pay... it's like writing naked options to collect premiums or picking up pennies in front of a buldozer (neither things I practice ).

Anyway, I got back on the short side late last week and looking forward to hopefully a crack at 118... that'd be amazing.

Regards,

Geppy

Quoting quecee5
Yup - as stated early last week when we sat close to 140. . . weekly was bearish and we had a weekly close below the target I mentioned 135.88.
check out my blog: forexmademillionaire dot com
  • #224,822
  • May 17, 2010 9:14am May 17, 2010 9:14am
Go up to the triangle or come back to channel?? maybe i take profit and sell again when he comes up. what do you do?

ston3
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  • #224,823
  • May 17, 2010 9:20am May 17, 2010 9:20am
That 1,000 point move in Dow, must have flushed all the longs, shorts may have no competition..
  • #224,824
  • May 17, 2010 9:21am May 17, 2010 9:21am
Quoting quecee5
Agreed. . . monthly looks ugly. . . But don't be surprise to 136 for month end just keep that in your hip pocket. . . if we bounce from 125. . .
I need a few weeks now if price will be still above 130 i am going long for 190,followed by 220,250 and 300 seriously and ofc taking all dips on emas then, otherwise i will be still waiting for my first in the lifetime carry trade opportunity.
I dont wanna miss it
  • #224,825
  • May 17, 2010 9:22am May 17, 2010 9:22am
Quoting Geppy
Q, was gonna PM you this but you don't receive them so... I just wanted to commend you on the nice analysis lately. I know we got a bit heated the other week, but I mean no disrespect and acknowledge you as one of the few good traders on FF.

Yes, I thought we would see more of a retracement and I was very wrong. Luckily I got out with minimal damage and a nice reminder why counter trend trades don't pay... it's like writing naked options to collect premiums or picking up pennies in front of a buldozer (neither things I practice ).

Anyway,...
Bro,

No apology needed here I'm thicked skinned and our dsaagreement was a mere discussion to "agree to disagree". . . happens with two stubborn traders. . . LMAO!

You are a great swing trader and we both have made some calls based on what we analyzed that have gone against us - nature of Forex and the biz we are in. . .

But overall we've been pretty solid and on most occassions on the same page. . . Last week was a bit tense for all so I too apologize for my rudeness to you so lets agree to put this behind us and make them "green' pips bro because they are there for the taken. . .
  • #224,826
  • May 17, 2010 9:24am May 17, 2010 9:24am
Quoting quecee5
Yup - as stated early last week when we sat close to 140. . . weekly was bearish and we had a weekly close below the target I mentioned 135.88.

Now we could consolidate between 129.22 - 135.88 before we break lower to the new range 129.22 - 125.22. . .

After that then you can kiss 141.50/143 and anything remotely close because either we see a dbl bottom at 119 or we see a new low. . .

Mentioned the possibilty of a new low last week and here we are. . .
we are closer to 125 and from the looks of GU we will see it soon enough and a possible...
Hi Q, yes sell all rallies...I found price is [email protected] and bounce which is retrace of today up move where it [email protected].
Price need to break and it for today's low. If not my chart show can up to test 200EMA M15 then M30 chart which will be my sell setup again.
But sell all rallies, we will see 125 soon. Take care on long
  • #224,827
  • May 17, 2010 9:25am May 17, 2010 9:25am
Sounds good man... looking forward to more GBP/JPY "Kaboooomage"!

Quoting quecee5
Bro,

No apology need here I'm thicked skineed and our dsaagreement was a mere discussion to "agree to disagree". . .

You are a great swing trader and we've both have made some calls based on what we analyzed that have gone against us - nature of Forex. . .

But overall we've been pretty solid and on most occassions on the same page. . . Lats week was a bit tense for all so I too apologize for me rudeness to you so lets agree to put this behind us and make them "green' pips bro because they are there for the taken. . .
check out my blog: forexmademillionaire dot com
  • #224,828
  • May 17, 2010 9:31am May 17, 2010 9:31am
Quoting $teve
My threat to turn gay has convinced the GJ bears to finally come out in full force. Congrats to all the cubbies enjoying the pips. The key here was to get in a good short for this next wave down. If you're not in short at the top 134, then you just have to settle for a much lower price or stay on the sideline and enjoy us cubbies taking in the pips.
Hey you could of waited until my last portion of my long to close at 134.90 before allowing the bears out

Well at least I covered 90% of my long for profit... I am looking though to go long for a weekly retracement at 1.30 or 1.25 depending on where PA starts to consolidate...

Seems like usd/jpy is still following the downtrend channel along with gbp/jpy...
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Traderdesk -
  • #224,829
  • May 17, 2010 9:43am May 17, 2010 9:43am
Quoting special0nefx
Hi Q, yes sell all rallies...I found price is [email protected] and bounce which is retrace of today up move where it [email protected].
Price need to break and it for today's low. If not my chart show can up to test 200EMA M15 then M30 chart which will be my sell setup again.
But sell all rallies, we will see 125 soon. Take care on long
Yup, I would imagine that we will range a couple days and possibly a week. . . We have visited close to the bottom of the weekly range so may see some movement back to the top which I see 135.88 with a spike up to 136.16/60 and possibly a bit higher for a shake-out to take out stops if we get that high. . .

My ultimate goal is the bottom of the weekly range 130/129.22 and maybe a break or dip before we see some good buying. . .

Stay Tuned!
  • #224,830
  • May 17, 2010 9:51am May 17, 2010 9:51am
Quoting Beljevina
I think we've seen some selling pressure at that 38.2% retrace top and a rejection. It's been a 300 pip ride up, even with the wider swing moves GJ's seeing these days, that's an overshoot IMHO. FTSE is into the final 30 minutes and is definitely a cap factor here. Not sure what the afternoon NY session will bring but things are looking a little toppy on many pairs.

The H4 on GY has some long top wicks and the daily has a 250 pip bottom wick, which I think needs to shrink as I'm expecting more downside.
Got some more shorts in about 133.6, but certainly didn't expect 150 pips down so quickly - clearly the selling pressure was real - I was thinking at the time it was very similar to HiddenGap's move that he's often analyzed (most recently here.) Clearly UJ weakness helped us get here. The daily is looking more reasonable now and better prepared for the move to 129/127/125, but I wouldn't rule out that one more (in vain) push up to 135 or higher - Asia will likely have us revisit the DPP around 134.5, perhaps a fake bull rally up prior to or as a part of FTSE's open, and then hopefully confirmed weakness & selling will bring us down further - might take a day or two though. The current bounce off 132 seems pretty strong (with buying underway), so the close is likely to be somewhere above here, but also signaling more upside IMHO.

From a news perspective, UKDayTrader mentioned hidden debts on the books courtesy of Brown - that'd certainly be a reason to drive out new sterling lows. I follow politics in a number of countries and it's amazing how often this strategy is used by the incoming leadership - uncover hidden debt, displace blame, justify your need to raise taxes, and try to come out the hero. Hopefully all us small fry fx traders can profit from it, and at least hopefully handsomely offset the ongoing screwing that our governments put on us with higher taxes that their own boys club caused.

P.S. - Glad to see the geppy/quecee5 rift fixed (couldn't believe how it blew up back there); you've each had such impeccable calls almost down to the pip, & I continue to learn that art. Glad you've not stopped postin'!
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  • #224,831
  • May 17, 2010 10:02am May 17, 2010 10:02am
Quoting quecee5
Yup, I would imagine that we will range a couple days and possibly a week. . . We have visited close to the bottom of the weekly range so may see some movement back to the top which I see 135.88 with a spike up to 136.16/60 and possibly a bit higher for a shake-out to take out stops if we get that high. . .

My ultimate goal is the bottom of the weekly range 130/129.22 and maybe a break or dip before we see some good buying. . .

Stay Tuned!
Agree ...range then only continue to main target 125~130

Going up [email protected] which is previous week close. Take alert on this price. Good Luck
  • #224,832
  • May 17, 2010 10:04am May 17, 2010 10:04am
who wants to bet? I say it is @ 130 within this hour
  • #224,833
  • May 17, 2010 10:09am May 17, 2010 10:09am
Quoting ghuisthefirs
who wants to bet? I say it is @ 130 within this hour
I wish!
check out my blog: forexmademillionaire dot com
  • #224,834
  • May 17, 2010 10:09am May 17, 2010 10:09am
Quoting ghuisthefirs
who wants to bet? I say it is @ 130 within this hour
Looks to be in an abc correction coming up to me but lets see what it does when it gets above 133. . .
  • #224,835
  • May 17, 2010 10:11am May 17, 2010 10:11am
Quoting quecee5
Yup, I would imagine that we will range a couple days and possibly a week. . . We have visited close to the bottom of the weekly range so may see some movement back to the top which I see 135.88 with a spike up to 136.16/60 and possibly a bit higher for a shake-out to take out stops if we get that high. . .

My ultimate goal is the bottom of the weekly range 130/129.22 and maybe a break or dip before we see some good buying. . .

Stay Tuned!

hey Q ,,dont you think we might ABC correct now? it dont looks like it,,but then agian its might looks like a correction above 2day's high ?

im ggrrrrrrrr confused ...
  • #224,836
  • May 17, 2010 10:12am May 17, 2010 10:12am
Quoting ghuisthefirs
who wants to bet? I say it is @ 130 within this hour
While that would be nice, I think it's highly unlikely.

That said I'm very, VERY willing to be proven wrong.
Every time you use 'hopium' in a post, God kills a kitten.
  • #224,837
  • May 17, 2010 10:14am May 17, 2010 10:14am
Quoting fullhouse
hey Q ,,dont you think we might ABC correct now? it dont looks like it,,but then agian its might looks like a correction above 2day's high ?

im ggrrrrrrrr confused ...
yes range time IMO looking for it to climb above 133 soon. . .
  • #224,838
  • May 17, 2010 10:15am May 17, 2010 10:15am
Quoting quecee5
Looks to be in an abc correction coming up to me but lets see what it does when it gets above 133. . .
ABC FE100@135 . 130 in hours better come fast...the train is moving soon
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  • #224,839
  • May 17, 2010 10:17am May 17, 2010 10:17am
Quoting special0nefx
ABC FE100@135 . 130 in hours better come fast...the train is moving soon
Agreed = more likely ABC over next couple seesions. . . Low in for today. . .
  • #224,840
  • May 17, 2010 10:22am May 17, 2010 10:22am
new channel
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