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

  • #225,681
  • May 20, 2010 5:30pm May 20, 2010 5:30pm
GJ looking VERY ugly guys, over the last day it broke the last major support between it and 118.... eek.... Once it gets back to 130 (If it does)... the selling is ON!
Dr. C
  • #225,682
  • Edited 5:59pm May 20, 2010 5:43pm | Edited 5:59pm
I took a long at 127.80 and targeting 130.70 with consideration to get short around between there and 131.00
check out my blog: forexmademillionaire dot com
  • #225,683
  • May 20, 2010 5:51pm May 20, 2010 5:51pm
looks like no up moves today until a few hundred pip drop, maybe 123
  • #225,684
  • May 20, 2010 5:53pm May 20, 2010 5:53pm
Quoting Clouds
looks like no up moves today until a few hundred pip drop, maybe 123
Yeah, got my stop at BE +10 in case she drops like a rock from here.
check out my blog: forexmademillionaire dot com
  • #225,685
  • May 20, 2010 6:20pm May 20, 2010 6:20pm
Quoting USD-Bear
... I ask myself if G by itself isn't a currency where all bad things are within the price and if policy finally is turning in a good direction. Being no EU member gives them huge advantages in being able correcting things.
Optimism is good, but frankly, it's the bulls and neverending spending that got the world to this mess. And make no mistake, we are into a debt crisis, like never before in history, so there's no real benchmark to go by. While sterling is independent of the euro, nothing has yet changed in the UK for the worse: there will be massive bank failures, debt defaults, and significant social upheaval, sooner there than elsewhere. Money printing will only do so much; every country that's tried it has ultimately failed at it; was just reading a CATO institute study today re the 2nd largest inflationary period in the former Yugoslavia - people's bank savings ultimately got modified by moving the decimal place 22 digits to the left - now that's, impacting. (Yes, they ultimately had a war, but for very different reasons)

I'm just saying that when you look at all this at a higher level, it's been decades of good times on borrowed resources; everyone who lent duly expected to get their loan back, yet, that's not likely to happen. Hence, things will get ugly. Markets will correct, currencies and countries will reset, and what is left behind will be very different from what people have been used to. Greece is only the start, and in Scene 2, of dozens to come. Every currency will have spurts of optimism, but ultimately, the lows of the past will be far surpassed. it may take years, or much less. Sorry to be Mr Doom & Gloom, but the fundamental facts can only be ignored for so long.
  • #225,686
  • May 20, 2010 6:27pm May 20, 2010 6:27pm
Quoting fullhouse
how do you get 1.5280.. i do see 1.54 as a possible stop point.. prev supp? ..
I see 1.5945 as a much better level to short. Check it out.
Every time you use 'hopium' in a post, God kills a kitten.
  • #225,687
  • May 20, 2010 6:29pm May 20, 2010 6:29pm
Quoting Beljevina
Optimism is good, but frankly, it's the bulls and neverending spending that got the world to this mess. And make no mistake, we are into a debt crisis, like never before in history, so there's no real benchmark to go by. While sterling is independent of the euro, nothing has yet changed in the UK for the worse: there will be massive bank failures, debt defaults, and significant social upheaval, sooner there than elsewhere. Money printing will only do so much; every country that's tried it has ultimately failed at it; was just [url="http://www.cato.org/pub_display.php?pub_id=8232"]reading...
Those are your FACTS & GOLDMAN SACHS FACTS BUT THEY ARE DEFFINATLY NOT MY FACTS. If I sell you a 100 pound Gold Bar as 0.999 pure Gold & when you cut it open its LED THATS FRAUD & THEFT "NOT ME OVERSPENDING" The Paper they Goldman & the rest of the BANKSTERS sold the World as AAA were really GARBAGE & they knew it "ITS FRAUD" Those are thge REAL FACTS!
  • #225,688
  • May 20, 2010 6:45pm May 20, 2010 6:45pm
OK, sure. That reminds me, I didn't get my weekly paycheque from GS. Your "facts" and GS's cohorts are barely a small portion of the problems that have developed. Believe it if you will, but that bridge is crossed, and, regardless of what happens, everyone's taken the debt at face value - undoing it now will barely change the upheaval that will unfold going forward.
  • #225,689
  • Edited 7:22pm May 20, 2010 7:01pm | Edited 7:22pm
Quoting fullhouse
raza


and here is another chart ... 1.55 looks promising for me ,, HUGE RESS level
Got Burnt but its OK..it is Hedged so locked Pips..You are Right...But I am still Shorting it for 300-400 pips ..for E/A its nothing...Isee 1.60 closer than I thought....

I GOT THAT 1.52.88 FROM fIB EXPANSION 261.8% FROM SOME WHERE ALSO 50% retrace from High

Above...1.55 is a good resistence......For all I know 1.4839 will get tested on E/A... bY THE wAY jUST BROKE EVEN ON THAT SHORT FROM 1.5288
Just shorted U/CAD as well...Lets see...

I think its Flag Time...Range In most Pairs

Today was an Account Maker and Breaker......
Markets are not Random, they are designed!
  • #225,690
  • May 20, 2010 7:15pm May 20, 2010 7:15pm
Quoting Allseeingeye
Those are your FACTS & GOLDMAN SACHS FACTS BUT THEY ARE DEFFINATLY NOT MY FACTS. If I sell you a 100 pound Gold Bar as 0.999 pure Gold & when you cut it open its LED THATS FRAUD & THEFT "NOT ME OVERSPENDING" The Paper they Goldman & the rest of the BANKSTERS sold the World as AAA were really GARBAGE & they knew it "ITS FRAUD" Those are thge REAL FACTS!
I agree. The market is so broken it's not even funny. As soon as the Fed pulled back on the liquidity programs, cracks began to form in the dam once again. Until the Fed decides to REALLY intervene again, the volatility should be here to stay.
"Don't trade to trade . . . trade to win." - James16
  • #225,691
  • May 20, 2010 9:00pm May 20, 2010 9:00pm
Anyone seeing a 4r bullish stochastic divergence?
  • #225,692
  • May 20, 2010 9:26pm May 20, 2010 9:26pm
Buying to 135.50, Selling there

Attached Image
  • #225,693
  • May 20, 2010 9:27pm May 20, 2010 9:27pm
Quoting profxtrader
I see 1.5945 as a much better level to short. Check it out.
Isee 1.60xx first,,

But scalping this is more FUN than G/J if you know what you are Doing...100 pips Up ..100 pips Down...

IHAVE NOT EVEN SEEN g/j ALL DAY...I AM HOOKED ON euro PAIRS..ATM...

I see EURO as Mighty Bull against AUD..

and Aud mighty Bear against USD...If you look at the chart of AUD/USD that Broken lower TL will not get tested for a long Time... Its a Double Top Confirmed... My advise Donot go against the Trend......Follow the Money...
Markets are not Random, they are designed!
  • #225,694
  • May 20, 2010 9:36pm May 20, 2010 9:36pm
Quoting Clouds
Buying to 135.50, Selling there

Attachment
I will Buy when it comes back to 127xx level ,,If ever......Dont sell it at that level....140.00 is the level to watch....G/J...

I am nobody to adevise you...just saying...look at your 4 hr or even 1 Hr...squeeze it...dont worry about the INDIS...I had predicted 126.70 level 2- 3 months ago and had a pending Buy which got missed by 3 pips.......!!! Oh I am pissed off.... If it ever goes below that Bull party is OVER....IMO,...
Markets are not Random, they are designed!
  • #225,695
  • May 20, 2010 9:57pm May 20, 2010 9:57pm
Hello everyone, I want to use the opportunity of this relatively quiet time and ask you what the latest word is on EUR interventions. (The reason I am posing the EUR question on this thread is that GBP typically gets dragged along.) Thanks in advance for your input.
  • #225,696
  • May 20, 2010 11:04pm May 20, 2010 11:04pm
Quoting FXjane
Hello everyone, I want to use the opportunity of this relatively quiet time and ask you what the latest word is on EUR interventions. (The reason I am posing the EUR question on this thread is that GBP typically gets dragged along.) Thanks in advance for your input.
That's the problem. When intervention happens we see it reflected in the charts and the effect is usually very obvious. Regardless, the central banks be it the Fed, ECB, SNB, BoJ etc.... will never admit the fact that they became buyer/seller of the last resort until about 6 months afterwards.
  • #225,697
  • May 20, 2010 11:44pm May 20, 2010 11:44pm
Quoting Eulogy
That's the problem. When intervention happens we see it reflected in the charts and the effect is usually very obvious. Regardless, the central banks be it the Fed, ECB, SNB, BoJ etc.... will never admit the fact that they became buyer/seller of the last resort until about 6 months afterwards.

Thanks, Eulogy. I agree with you. Ongoing SNB interventions are quite obvious. But I don't believe that the SNB interventions alone should be of concern. Japan hasn't intervened in the currency market since 2004. The concern is about joint ECB, Fed, and BoJ(?) intervention.
  • #225,698
  • May 21, 2010 12:17am May 21, 2010 12:17am
Good morning all... Boy that was fun yesterday....I think I have become addicted to Thursdays as you have strong probabilities of trending moves in the G/Y pair especially around 2pm Eastern time... Yesterday watching PA you could just see/feel/hear the storm coming.... As you see I like analogies

OK back to business(while having my first cup of coffee) in spite of the 300 pip bounce off of the 127 level we are still in a downtrend... First level I would look at is the decending UTL on the 30 minute chart that is currently at 131.0-15 level. That would need to break to change the bias from strong bear to mildly bullish INTRADAY.... I see that PA has come up to 130.50 where we had a previous high on the chart and PA reversed itself for the moment...So UTL at 131 has yet to be tested and bear action is still on.... Bears are placing shorts from 130.3 up to 130.9 most likely....

We have a second more important UTL on the dealer chart that currently resides at 134.50 where to keep this swing trend in a bear mode should not be broached. Bears will defend this line for a good R/R in their daily charts. If this line falls then look for buying on your hourly charts on the dips.....

Now for those traders that have switch themselves to bull mode intraday I would look at a bull trend pattern that is showing itself at the moment... Buying at around 128.70 with a profit point around 131 before a reversal is in play... Just take a 30 minute chart and draw a bullish channel for the picture...You can see a triangle being formed which should give us a breakout pattern I would think on Monday or Tuesday...

Well back to my coffee and charts with my PTStation for some more pips....
Traderdesk -
  • #225,699
  • May 21, 2010 12:27am May 21, 2010 12:27am
Quoting Raza
I will Buy when it comes back to 127xx level ,,If ever......Dont sell it at that level....140.00 is the level to watch....G/J...

I am nobody to adevise you...just saying...look at your 4 hr or even 1 Hr...squeeze it...dont worry about the INDIS...I had predicted 126.70 level 2- 3 months ago and had a pending Buy which got missed by 3 pips.......!!! Oh I am pissed off.... If it ever goes below that Bull party is OVER....IMO,...

hey... here .. draw your fibs on gbp/jpy from 2 recent highs and you get a confluence area at 131.75/132....use these highs at 139.81 & 134.82 .then your confluence area is at 382 & 618.... nice ress to short if we get up there....

i missed the eur/aud . i was asleeep,but eur/usd got it again...and just add more on usd/chf for shorts ..she looks tired up there
  • #225,700
  • May 21, 2010 12:44am May 21, 2010 12:44am
Quoting Raza
I will Buy when it comes back to 127xx level ,,If ever......Dont sell it at that level....140.00 is the level to watch....G/J...

I am nobody to adevise you...just saying...look at your 4 hr or even 1 Hr...squeeze it...dont worry about the INDIS...I had predicted 126.70 level 2- 3 months ago and had a pending Buy which got missed by 3 pips.......!!! Oh I am pissed off.... If it ever goes below that Bull party is OVER....IMO,...

i keep pressing buttons.. i think ,ithink gbp/usd reach his bottom for medium/long term ..we heading to 1.5 first ,then later more .. i went long,stop below low,and target 1.5 first ....

gbp/jpy at extreme levels..waste of time to look at ..check the divergance on gbp/usd .... isnt it obv we going up ? ...
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