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

  • #231,641
  • Sep 10, 2010 7:48am Sep 10, 2010 7:48am
Entered short at 129.95.Tight stop.Break above will switch to long.
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  • #231,642
  • Sep 10, 2010 8:07am Sep 10, 2010 8:07am
Quoting honeybhi
Entered short at 129.95.Tight stop.Break above will switch to long.
i am also short with tight SL but its damn confusing but it can retrace down and will close on upside but let see how it goes will enter long when it retrace down.

good luck

Ub
  • #231,643
  • Sep 10, 2010 8:29am Sep 10, 2010 8:29am
Quoting ubaidahsan
i am also short with tight SL but its damn confusing but it can retrace down and will close on upside but let see how it goes will enter long when it retrace down.

good luck

Ub
Take trades only which you have confidence of winning it with good money management.

Friday's are tricky ,trade carefully.

Good luck to u.
  • #231,644
  • Sep 10, 2010 8:39am Sep 10, 2010 8:39am
Well, I didn't have time yesterday to do a comprehensive post but wanted to update here anyway (I'll post something over the weekend).

I was filled on a long order overnight at 129.25 and just added to my position by one-third here at 129.60.

In short, I think we're in a temporary uptrend that may go as high as 135/136 but I'll post my technical and fundamental reasonings sometime over the weekend.
check out my blog: forexmademillionaire dot com
  • #231,645
  • Sep 10, 2010 8:50am Sep 10, 2010 8:50am
Closed short +40 .

Geppy I agree with you on uptrend but lot of wood to chop.

Downward seems to be like a free fall.
  • #231,646
  • Sep 10, 2010 8:52am Sep 10, 2010 8:52am
The pound is showing it's weakness - it makes it up on low volume, then gets whacked with sellers. GY shows it best. Almost exact same pattern in GU, but GY of course gets a bit more because after what's a decent run for UJ these days (40/50 pips), it's too been hit with sellers up at 84.35. Watching on M5/M10 to see if that LTL holds. EURUSD behaving similar to cable, but not as weak IMHO, although the preachings from 'experts' are otherwise.

Very tricky market to trade - schizophrenic I'd call it: way too many moves occurring in very tight time intervals, partially bull/bear battles, but really algorithms trying to figure things out and make money.
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  • #231,647
  • Sep 10, 2010 9:27am Sep 10, 2010 9:27am
I will wait for the yellow trendline to break to enter short.

Break of red trendline I will go long.

Have a nice weekend all.
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  • #231,648
  • Sep 10, 2010 9:37am Sep 10, 2010 9:37am
not sure
- - -
sometimes 2*2=„7/40“
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  • #231,649
  • Edited 10:12am Sep 10, 2010 9:59am | Edited 10:12am
Took a short at M3 but not expecting much. Although Obamaspeak is to be underway in 1 minute, I don't see it moving the markets. London closes down in the next hour, but frankly I think they're done already - we're likely to range into nothingness for the rest of the day. Hope I'm wrong, but without any news or marked interest, we're likely done.

London still controls the bulk of fx trading - something like over 60% of the volume; US sessions have just over half of the remainder - without London's presence, not much happens.

EDIT: forexlive reports "Traders report sizable demand for EUR/USD at the upcoming 15:00 GMT fixing. EUR/USD trades quietly around 1.2715. Should any sort of rally break out in the last hour of European trade, expect the SNB to sell toward 1.2750 once again…". My comment: I'd far sooner believe this to be true versus the boatload that we read the other day of GS (or whatever assw*pe brokerage house) said they expect EURAUD to head to 1.3! Clearly, they loaded up in the wrong direction!
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  • #231,650
  • Sep 10, 2010 12:53pm Sep 10, 2010 12:53pm
Surprisingly big moves underway in sterling ... it would appear there are no buyers in this afternoon NY session. Weird also because equities are doing relatively well and the usual yen pair correlation is not in play - EY and AY and perhaps others are 'correlating' but GBP & CAD are not - can't explain that one. And USD strength looks to be strong. Overall, sterling still looks much weaker than the euro to me.

Looks like the market is dumping sterling - with volume diminishing, odds are there for buyers to be taking this up, yet the pace down is farily quick IMO - just hard to say why and what the next-week strategy behind that is. Certainly makes you think someone knows something. Interesting times no doubt. Sorry for the bad and for recent days unreadable/busy chart - just want to show that there appears to be soo little interest in the beast heading up, and cable is equally bearish, perhaps more rangebound.

Although I have repeated that BoJ intervention will not happen, it's been based on the futility of such an action. But, politicians worldwide are least of all known for their logic and doing the right thing at the right time, and Japan's current crop appears to be no exception. It is possible they will intervene but that's not necessarily because they have facts it will work - it will be because of the political climate and the current throne-sitters need to do 'something'. Today's populist politics will demand it, and, when it doesn't work, there will be a different angle used to blame the Japanese politicians. Why won't it work? What impact can many billions make to a $4 trillion daily market? And, what's the impact and opportunity cost/loss to Japan for spending it, only to have the real crux of the issue remain? If/when they try, you need to be on the right side of the move - can't wait for it!
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  • #231,651
  • Sep 10, 2010 1:06pm Sep 10, 2010 1:06pm
not really unexpected... i already mentioned that i expect pound to hit 1.5270 area which is major support; any major decision will happen there - we bounce back to upper 1.56, or we go down to test this year's lows.

as for g-j... behaving like a sick parrot, so not much trading for now. main trend is however going downwards, but i suspect we will see some sharp moves both ways.

Quoting Beljevina
Surprisingly big moves underway in sterling ... it would appear there are no buyers in this afternoon NY session. Weird also because equities are doing relatively well and the usual yen pair correlation is not in play - EY and AY and perhaps others are 'correlating' but GBP & CAD are not - can't explain that one. And USD strength looks to be strong. Overall, sterling still looks much weaker than the euro to me.

Looks like the market is dumping sterling - with volume diminishing, odds are there for buyers to be taking this up, yet the pace down...
Nihil Sine Deo.
  • #231,652
  • Sep 10, 2010 6:10pm Sep 10, 2010 6:10pm
Quoting Geppy
Well, I didn't have time yesterday to do a comprehensive post but wanted to update here anyway (I'll post something over the weekend).

I was filled on a long order overnight at 129.25 and just added to my position by one-third here at 129.60.

In short, I think we're in a temporary uptrend that may go as high as 135/136 but I'll post my technical and fundamental reasonings sometime over the weekend.
Well, I started writing and writing and realized it was a very long post so I'm putting it on my blog. Gonna try to keep this baby updated on a more frequent basis.

Have a good weekend everyone.
check out my blog: forexmademillionaire dot com
  • #231,653
  • Sep 11, 2010 12:15pm Sep 11, 2010 12:15pm
Quoting maanawi
G please what do you think about EU? will it tank following the GU?? or there a chance for EUR strength ?
sorry mate..been out a few day due to eid celebration...

as i told u before..i am not touching this f***er yet atm (i mean no new entry/setting)....

only scalp (GU) and scalp + intra in EY n GY.....

if u ask my opinion i saw step by step (not straight line tanking) of 1.255-1.233-1.226-1.210..but 1.245 is the gate for this....but anythings could happen

good luck

g
  • #231,654
  • Sep 12, 2010 12:36pm Sep 12, 2010 12:36pm
Quoting grashid
sorry mate..been out a few day due to eid celebration...

as i told u before..i am not touching this f***er yet atm (i mean no new entry/setting)....

only scalp (GU) and scalp + intra in EY n GY.....

if u ask my opinion i saw step by step (not straight line tanking) of 1.255-1.233-1.226-1.210..but 1.245 is the gate for this....but anythings could happen

good luck

g
Eid Mubark G

thanks a lot for your view, I thought the break will be last week but still there a respect for the weekly channel ..
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  • #231,655
  • Sep 12, 2010 4:52pm Sep 12, 2010 4:52pm
chart for short term -

support at red horizontal and blue lines. resistance @ 129.80 for today, which means there's a good r/r area for shorts from there - stops above 130.06 and tp at 128.88/30.

129.80 taken = going up more... possibly to upper 130 or lower 131 first...
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Nihil Sine Deo.
  • #231,656
  • Sep 12, 2010 8:06pm Sep 12, 2010 8:06pm
Quoting naatha
a possibility
- - -
http://www.forexfactory.com/showpost...stcount=231655
Trying a long here on the 4H Gann flip
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  • #231,657
  • Sep 12, 2010 8:35pm Sep 12, 2010 8:35pm
Gooooooood Moooooorning all.

Entered short GU at 1.54. SL green trendline.

Good luck all .
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  • #231,658
  • Sep 12, 2010 9:34pm Sep 12, 2010 9:34pm
I'm short but not too enthusiastic about this position, could go either way..
  • #231,659
  • Sep 12, 2010 11:54pm Sep 12, 2010 11:54pm
Quoting nahman
I'm short but not too enthusiastic about this position, could go either way..
Yes could go either way but when I go to sleep in 2 hours or so I'll set my target @ 132.80, just under 50% fib from the down move that started August 3rd from 137.77.
May take some time to get there though but it would be a nice 350 pips gain.

I'm still long UJ from last week 1 entry 84.35 and 1 entry 83.35 and I'll keep those open for longer term.

Shamu
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  • #231,660
  • Sep 13, 2010 12:14am Sep 13, 2010 12:14am
I must say that USD/CAD has been very easy trading last couple of weeks.
It's very simple, everything over 1.04 you go short, everything under 1.04 you go long.
Very easy money, you can't miss.
Just need a lil' bit of patience.
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