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

  • #228,581
  • Jul 1, 2010 9:46am Jul 1, 2010 9:46am
Quoting USD-Bear
Could have done the same (if I was fearless)

Attachment
Thank you.

Quoting ukdaytrader
I don't tbh. There's no bullish divergence I would trade.
Look where the price currently sits, not where it did 2.5 hours ago.
Ok thanks...
  • #228,582
  • Jul 1, 2010 9:59am Jul 1, 2010 9:59am
Now, if everyone is suddenly so risk averse, why is Gold taking a dump.?

I already have a small Gold short because there's some bearish divergence which could take us back to $1000 ish. Will hold and add either way until divergence is invalidated.
  • #228,583
  • Jul 1, 2010 10:12am Jul 1, 2010 10:12am
Quoting ukdaytrader
87.21. Couldn't resist against ny better judgement. Target 89.21.

Will add more if/as we dip lower.
Interested what your SL would be ukdaytrader, I can see the possibillities, just see few backups above 85 if it goes wrong.....
Don't be a hero. Don't have an ego. Always question yourself
  • #228,584
  • Jul 1, 2010 10:56am Jul 1, 2010 10:56am
very interesting... i see buying at the bottom, but not yet selling. it might be possible to see price going up and down within this range (131.30/132.40), although i believe stops have just been run with the last dip to 131.26.

going up for now... this week's resistance is @ 134.70 area...
Attached Image (click to enlarge)
Click to Enlarge Name: g-j_h1.gif Size: 20 KB
Nihil Sine Deo.
  • #228,585
  • Jul 1, 2010 11:06am Jul 1, 2010 11:06am
Quoting USD-Bear
Interested what your SL would be ukdaytrader, I can see the possibillities, just see few backups above 85 if it goes wrong.....
Stop loss? You guys kill me. (jok)

To be honest though, I don't have a set figure in mind yet. I'm basing my trade on the 4hr bullish divergence which hasn't played out yet. (In my opinion). The play out figure i'm watching for is around 89.20. Once this bounce extends a bit more, I will likely lock a stop at b/e.

89.20 will be seen though, i'm almost certain of that. Everything else is MM.
  • #228,586
  • Jul 1, 2010 11:15am Jul 1, 2010 11:15am
.....is in da house.
  • #228,587
  • Jul 1, 2010 11:20am Jul 1, 2010 11:20am
Quoting ukdaytrader
Stop loss? You guys kill me. (jok)

To be honest though, I don't have a set figure in mind yet. I'm basing my trade on the 4hr bullish divergence which hasn't played out yet. (In my opinion). The play out figure i'm watching for is around 89.20. Once this bounce extends a bit more, I will likely lock a stop at b/e.

89.20 will be seen though, i'm almost certain of that. Everything else is MM.
Didn't realize the question was so funny, but alla think I'm not rich enough or need too much leverage to do without SL's
Hope it works for you......
Don't be a hero. Don't have an ego. Always question yourself
  • #228,588
  • Jul 1, 2010 11:26am Jul 1, 2010 11:26am
Quoting USD-Bear
Didn't realize the question was so funny, but alla think I'm not rich enough or need too much leverage to do without SL's
Hope it works for you......
It's not funny, I was joking with you.

I trade small. Not looking for 10% every week like some of the heros on FF. Typically, my trade ideas are sound, my entries are rarely perfect though, so averaging in is a staple part of my trading.
  • #228,589
  • Edited 11:59am Jul 1, 2010 11:45am | Edited 11:59am
Hmm, triple bottom appears to have broken. Discussed in third chart - in link. If UJ keeps dropping as previously discussed, Geppy may well see the 129 region before long.

http://www.forexfactory.com/showpost...5&postcount=33
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #228,590
  • Jul 1, 2010 12:26pm Jul 1, 2010 12:26pm
So it looks like we have a new dynamic in place where the worse the fundamental news the bigger the rally.

I guess Bulls are now hoping for horrible NFP so they can get a huge rally.
  • #228,591
  • Jul 1, 2010 2:26pm Jul 1, 2010 2:26pm
Quoting I like steak
I am not sure what to make of this EJ has fallen 230 pips, AJ 300 pips and GJ only 200 pips.
http://www.forexfactory.com/news.php?do=news&id=244112

This is possibly the reason why some think there are buyers in the market... I think the fact that UK is tightning could also be helping.

And the European/UK currencies have already underperformed in the rallies.
  • #228,592
  • Jul 1, 2010 2:33pm Jul 1, 2010 2:33pm
not necessarily buyers... this move up could also mean profit taking and it might be a good reason to test resistances @ upper 134 area.

u-j doesn't show any signs of bottoming yet. g-j went a little bit up because of pound, but as far as i'm concerned pound is very close to key resistance if not already there. so no reason for geppy to continue much higher now, at least not until u-j will find any real bottom.

Quoting I like steak
http://www.forexfactory.com/news.php?do=news&id=244112

This is possibly the reason why some think there are buyers in the market... I think the fact that UK is tightning could also be helping.

And the European/UK currencies have already underperformed in the rallies.
Nihil Sine Deo.
  • #228,593
  • Jul 1, 2010 2:38pm Jul 1, 2010 2:38pm
Boy have I seen this before, everyone unoading before NFP. Gonna call it here. Slow upwards climb thru the night toward 133.70 area, then big plunge tomorrow morning. Nice Morning Star on the 4 hr to start the climb. If we get a leak we will know it as it will show up earlier than expected.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 17 KB
  • #228,594
  • Jul 1, 2010 2:40pm Jul 1, 2010 2:40pm
Here is 4 hr chart with fibs, Morning star and close above.

Quoting Nene
Boy have I seen this before, everyone unoading before NFP. Gonna call it here. Slow upwards climb thru the night toward 133.70 area, then big plunge tomorrow morning. Nice Morning Star on the 4 hr to start the climb. If we get a leak we will know it as it will show up earlier than expected.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #228,595
  • Jul 1, 2010 2:46pm Jul 1, 2010 2:46pm
Quoting Scrat
not necessarily buyers... this move up could also mean profit taking and it might be a good reason to test resistances @ upper 134 area.

u-j doesn't show any signs of bottoming yet. g-j went a little bit up because of pound, but as far as i'm concerned pound is very close to key resistance if not already there. so no reason for geppy to continue much higher now, at least not until u-j will find any real bottom.
ok, it makes reason (for me) for the next move lower.

But on the other hand the daily macd is only starting to curl lower...

Thanks
  • #228,596
  • Jul 1, 2010 2:49pm Jul 1, 2010 2:49pm
Quoting Scrat
not necessarily buyers... this move up could also mean profit taking and it might be a good reason to test resistances @ upper 134 area.

u-j doesn't show any signs of bottoming yet. g-j went a little bit up because of pound, but as far as i'm concerned pound is very close to key resistance if not already there. so no reason for geppy to continue much higher now, at least not until u-j will find any real bottom.
see the other day you mentioned we were getting shake outs well i agreed with your thoughts and seen buying on the lower tf but not on the hr tf and up but would you agree that the signals are now showing more strength also if we look at the monthly not alot going on selling wise anyway welcome to the third quarter already
  • #228,597
  • Jul 1, 2010 3:00pm Jul 1, 2010 3:00pm
some selling going on during last hour... let's see what's next. i would look for selling opportunities, but that's just me.

Quoting cohiba pips
see the other day you mentioned we were getting shake outs well i agreed with your thoughts and seen buying on the lower tf but not on the hr tf and up but would you agree that the signals are now showing more strength also if we look at the monthly not alot going on selling wise anyway welcome to the third quarter already
Attached Image (click to enlarge)
Click to Enlarge Name: g-j_h1.gif Size: 20 KB
Nihil Sine Deo.
  • #228,598
  • Jul 1, 2010 3:03pm Jul 1, 2010 3:03pm
gbp-usd
pattern---
ab=cd------------>app162%
symmetry crown
Attached Image (click to enlarge)
Click to Enlarge Name: GBP- D1.gif Size: 78 KB
  • #228,599
  • Jul 1, 2010 3:05pm Jul 1, 2010 3:05pm
On any other day of the month I would be right there with ya, Buddy. But not the night before NFP.

Quoting Scrat
some selling going on during last hour... let's see what's next. i would look for selling opportunities, but that's just me.
  • #228,600
  • Jul 1, 2010 3:14pm Jul 1, 2010 3:14pm
Quoting cohiba pips
see the other day you mentioned we were getting shake outs well i agreed with your thoughts and seen buying on the lower tf but not on the hr tf and up but would you agree that the signals are now showing more strength also if we look at the monthly not alot going on selling wise anyway welcome to the third quarter already
YES mate.. very clear...

almost everyone was EUR short, and holding for a long time.. NOW with bad US data.. what we saw is only a position liquidation... What suprise is the the intensity of that move in a singe day.. In GU [320p] and EU [350p].. but probably b/c some 6 day window borrowing from ECB to cover 500Bln loan for euro BANKS..

Interesting anyway..

Cheers !
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