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

  • #226,101
  • May 25, 2010 9:08am May 25, 2010 9:08am
Price retraced 78.6 of the last up move and starting to rise.if it was to continue downtrend then the price should close below the previous low.Is it start of an uptrend ??
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  • #226,102
  • May 25, 2010 9:14am May 25, 2010 9:14am
Quoting honeybhi
Price retraced 78.6 of the last up move and starting to rise.if it was to continue downtrend then the price should close below the previous low.Is it start of an uptrend ??
If an uptrend, 130.15 should be the point to look for. And you red line should be hold or break?
  • #226,103
  • May 25, 2010 9:54am May 25, 2010 9:54am
Quoting grashid
Today is Monday=DJ will be up temperory and 128-128.80 could possible to reach...

however overall is bear...just becarefull...scalp hit n out should be ok for 2-3X with M5/M15

look like yesterday 131.20 area is the best set-up for 125 next...

good lcuk

g
..correction : Today is tuesday
  • #226,104
  • May 25, 2010 9:56am May 25, 2010 9:56am
We may be on a mindset/correlation change between equities & the fx market. Correlations over the past many months have been such that major equity market selloffs have translated into down moves in most currencies, esp. for the yen crosses. But that's not been the case today, at least in the NY session. Today's market action in both Europe & US is driving the cash out of the markets into bonds, which are seeing record low yields, given the demand. With the regional war declaration of a lunatic leader in Japan's midst, we should also be seeing yen weakness. And as I mentioned before, I'm noticing a stark increase in volumes since May 18 on GY/GU lows, indicating increased potential buyers.

This last hour is an important one, as London closes in 30 minutes. But given the untraditionally slow GY movement today, it would be surprising to see any larger jumps in GY, unless further negative news takes hold. Resistance at 128.9 has held, but so has support down around 127.8; I'd only be taking further positions when one of them and their associated trend lines breaks.
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  • #226,105
  • May 25, 2010 10:36am May 25, 2010 10:36am
naked chart says bears are still out. we are below last week close (130.03).
lower tfs show last resistance @ 130.61 area, so no longs for me unless i see a break of this area.

what war?!??

Quoting Beljevina
We may be on a mindset/correlation change between equities & the fx market. Correlations over the past many months have been such that major equity market selloffs have translated into down moves in most currencies, esp. for the yen crosses. But that's not been the case today, at least in the NY session. Today's market action in both Europe & US is driving the cash out of the markets into bonds, which are seeing record low yields, given the demand. With the regional war declaration of a lunatic leader in Japan's midst, we should also be seeing yen...
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Nihil Sine Deo.
  • #226,106
  • May 25, 2010 10:44am May 25, 2010 10:44am
Quoting Scrat
naked chart says bears are still out. we are below last week close (130.03).
lower tfs show last resistance @ 130.61 area, so no longs for me unless i see a break of this area.

what war?!??
nice post .. nice and simlpe

130.30 is key

sell on rallies to this level
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  • #226,107
  • May 25, 2010 11:26am May 25, 2010 11:26am
I don't think it will break 129.78 ... that is the same line that held it to 130.77. It has moved down some.
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  • #226,108
  • May 25, 2010 12:48pm May 25, 2010 12:48pm
Ok... I finally put my gameplan into action... I am longing now every dip in price on the 2 hour chart... I am closing out most of my short positions that I have from 142 level...

First level I am looking at is around 139 level... In case we head back down to 125 I will open more longs there... And down to 118 IF reached with this downtrend I will open more longs... Below that I will be buying options to protect my positions until market turn-around...

I am buying USD/YEN as well... Were there is congestion there is opportunity...

So for the next two years I am on a buying spree.... Sell me your YEN as I am buying.... So I guess for these two pairs on swing trades it's a BUY from me....

I am now known as the BUY GBP and USD - SELL JPY TraderDesk..... Business is now open... <whew>
Traderdesk -
  • #226,109
  • May 25, 2010 12:59pm May 25, 2010 12:59pm
Quoting Traderdesk
Ok... I finally put my gameplan into action... I am longing now every dip in price on the 2 hour chart... I am closing out most of my short positions that I have from 142 level...

First level I am looking at is around 139 level... In case we head back down to 125 I will open more longs there... And down to 118 IF reached with this downtrend I will open more longs... Below that I will be buying options to protect my positions until market turn-around...

I am buying USD/YEN as well... Were there is congestion there is opportunity...

So for the...
Good luck, you will need it.
Trade what you see, not what you think.
  • #226,110
  • Edited 1:44pm May 25, 2010 1:00pm | Edited 1:44pm
Quoting Traderdesk
Ok... I finally put my gameplan into action... I am longing now every dip in price on the 2 hour chart... I am closing out most of my short positions that I have from 142 level...

First level I am looking at is around 139 level... In case we head back down to 125 I will open more longs there... And down to 118 IF reached with this downtrend I will open more longs... Below that I will be buying options to protect my positions until market turn-around...

I am buying USD/YEN as well... Were there is congestion there is opportunity...

So for the...
wait for 123.80 ,,then im joining you ,,but for now,,you are right ..137/139 is closer than anyone think here ...


gbp/usd bottom and 1.47 is just around the corner... then 1.5
i went long with gbp/usd with a 20 pip stop and 500 limit ..

it work out ...

usd/chf clearly topped also .. looks like a ice cream caramel top...
  • #226,111
  • May 25, 2010 1:43pm May 25, 2010 1:43pm
and the bearish flag widen up 2day... i personally wont try any shorts until we reach 131.60/70 area .. yes its the last ress still left before we turn to semi bullish... but gbp/usd tell me up we go ,,

at 131.60/70,do we have a confluence area and the top of bearish flag,and the upper TL.. so that is not tooo bad spot to short,if we get up there... it will be a slowww dragging process until then..

130.50 is also there and a few below that,,but im sitting out if we dont get upto 131 atleast
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  • #226,112
  • May 25, 2010 1:49pm May 25, 2010 1:49pm
Quoting kourtney
Ok amigos now im going long to 129.60 before we keep diving
ok now .... I will short to 129....what a ride uh?
  • #226,113
  • May 25, 2010 1:50pm May 25, 2010 1:50pm
Quoting fullhouse
wait for 123.80 ,,then im joining you ,,but for now,,you are right ..137/139 is closer than anyone think here ...


gbp/usd bottom and 1.47 is just around the corner... then 1.5
i went long with gbp/usd with a 20 pip stop and 500 limit ..

it work out ...

usd/chf clearly topped also .. looks like a ice cream caramel top...
Nice call on GU
Read the entire market, money is made on the main trend not the fluctuation
  • #226,114
  • May 25, 2010 1:51pm May 25, 2010 1:51pm
Quoting karmostaji
Good luck, you will need it.
still looking down karmo? perhaps asia takes it back down?
  • #226,115
  • May 25, 2010 1:52pm May 25, 2010 1:52pm
Quoting kourtney
ok now .... I will short to 129....what a ride uh?
Nice call kourtney
Read the entire market, money is made on the main trend not the fluctuation
  • #226,116
  • May 25, 2010 1:54pm May 25, 2010 1:54pm
Quoting kourtney
ok now .... I will short to 129....what a ride uh?

normally we had the same view and enter at the same time ..but not this time ...

are you sure ???
  • #226,117
  • May 25, 2010 1:56pm May 25, 2010 1:56pm
Quoting Kofmaster
Nice call on GU
yeah luckliy it worked,,eur aswell and usd/chf ... its about bladdy time..
  • #226,118
  • May 25, 2010 2:02pm May 25, 2010 2:02pm
Quoting ewokuk
still looking down karmo? perhaps asia takes it back down?
I got stopped out of my trade earlier for +50, I'm sitting out for now until Asia opens..
Trade what you see, not what you think.
  • #226,119
  • May 25, 2010 2:03pm May 25, 2010 2:03pm
welll it may go higher but i think will retrace a bit first
  • #226,120
  • May 25, 2010 2:27pm May 25, 2010 2:27pm
buy eur/jpy @110.60!!! .......untested supp..we breakout without drop back and test ...

i
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