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

  • #231,661
  • Sep 13, 2010 12:32am Sep 13, 2010 12:32am
Currently 1hr 200 ema holding it as resistance.

A close above it we have a possibility to test the 131.xx which is also the weekly 5 SMA.

Until this level is cleared the bias remains to the downside and target 128.80 - 128.50.

Once these levels are cleared we move further downside.
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  • #231,662
  • Sep 13, 2010 1:37am Sep 13, 2010 1:37am
Quoting KillerWhale
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.

Shamu
Are we getting somewhere finally?
1 hr chart
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New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,663
  • Sep 13, 2010 1:41am Sep 13, 2010 1:41am
Is this move on GU the Franki fakeout?
  • #231,664
  • Sep 13, 2010 2:01am Sep 13, 2010 2:01am
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  • #231,665
  • Sep 13, 2010 2:44am Sep 13, 2010 2:44am
Everything going as planned, gotta get some sleep.
Happy trading for all.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #231,666
  • Sep 13, 2010 3:12am Sep 13, 2010 3:12am
From high point of 133.60 to 127.90 low point as of recently we are currently at a 38.2 retracement at 130.05. 131.40 is 61.8 retracement which imo we would need to really push down. Just above the 61.8 retracement is the 200ema and my bollinger band that can confirm a down push. Just speculation. It's been awhile since i posted. Good luck to all.
  • #231,667
  • Sep 13, 2010 4:12am Sep 13, 2010 4:12am
Price not able to close above the trendline.
Will stay short and target LTL and 128.70 area until price closes above.
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  • #231,668
  • Sep 13, 2010 5:45am Sep 13, 2010 5:45am
Quoting honeybhi
Price not able to close above the trendline.
Will stay short and target LTL and 128.70 area until price closes above.
LTL target done.Partial closed ,rest at breakeven.

Break of this should take us down to the 4hr LTL .
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  • #231,669
  • Sep 13, 2010 7:19am Sep 13, 2010 7:19am
Quoting honeybhi
LTL target done.Partial closed ,rest at breakeven.

Break of this should take us down to the 4hr LTL .
nope..look to me atm, PA back to normal where 'main' short n 'cross' long....

i need to c how today close before make any decision in my trade this week....
  • #231,670
  • Sep 13, 2010 7:31am Sep 13, 2010 7:31am
Quoting grashid
nope..look to me atm, PA back to normal where 'main' short n 'cross' long....

i need to c how today close before make any decision in my trade this week....
Watching this mate.Closed previous short and took small long .Break of it will short again.Not placing long term trades yet.
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  • #231,671
  • Sep 13, 2010 7:32am Sep 13, 2010 7:32am
Quoting honeybhi
Watching this mate.Closed short and took long .Break of it will short again.Not placing long term trades yet.
yup..still in scalping mode
  • #231,672
  • Sep 13, 2010 9:07am Sep 13, 2010 9:07am
Entered short again on break of trendline .

Target LTL .
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  • #231,673
  • Sep 13, 2010 9:19am Sep 13, 2010 9:19am
Quoting honeybhi
Entered short again on break of trendline .

Target LTL .
what is your Target and SL??

Ub
  • #231,674
  • Sep 13, 2010 9:26am Sep 13, 2010 9:26am
Quoting ubaidahsan
what is your Target and SL??

Ub
SL close above orange trednline or 129.75 .

Target LTL around 128.50 area posted in previous chart.
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  • #231,675
  • Edited 10:29am Sep 13, 2010 10:16am | Edited 10:29am
Another strange fx market Monday: risk rally is on, equities are up, yet the yen remains incredibly strong, and no yen pair rally appears to be in play. CDN dollar is strong, yet unable to rally against that even stronger yen via CADJPY in support of risk being on. Oddly too, US bond yields are down. But, a few nice words from euroland, and they're in lala land, sailing through some key EURUSD areas looking to head for that 1.29 target.

Yet, that same talking up of euroland, hardly reflects against the UK. Quick, someone grab a UK politician and have him make up some stuff about how wonderful things are in England! Sterling's so far done about an indecisive 30 pips in most pairs for the NY pre and current day. Point being? Grab the pips in 15-20 pip increments and let the remainder sail (which usually gets stopped out if you're swinging or scalping!)

EDIT: Possible good trade long in USDCHF if the 1.06x area holds, which it seems to be. Talk though of CHF demand though at the current London fixing; am watching closely and looking to add to fresh longs.
  • #231,676
  • Sep 13, 2010 10:39am Sep 13, 2010 10:39am
Daily
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  • #231,677
  • Sep 13, 2010 11:01am Sep 13, 2010 11:01am
Potential bottoming for today, against Friday's low? Perhaps. Am in, but out at BE. USDYEN has undone itself, and while buying volume there isn't big, it may pull back up; 83.3 has to hold IMO. CANYEN also hit S2 and has so far been rejected. USDCHF long still potential.
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  • #231,678
  • Sep 13, 2010 11:16am Sep 13, 2010 11:16am
Quoting Beljevina
Potential bottoming for today, against Friday's low? Perhaps. Am in, but out at BE. USDYEN has undone itself, and while buying volume there isn't big, it may pull back up; 83.3 has to hold IMO. CANYEN also hit S2 and has so far been rejected. USDCHF long still potential.
USD not looking good at the moment .I will better wait for todays close on the USD/CHF trade.
  • #231,679
  • Sep 13, 2010 11:39am Sep 13, 2010 11:39am
Quoting Scrat
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...
superb call, just wish I followed
  • #231,680
  • Sep 13, 2010 12:34pm Sep 13, 2010 12:34pm
Quoting Beljevina
Potential bottoming for today, against Friday's low? Perhaps. Am in, but out at BE. USDYEN has undone itself, and while buying volume there isn't big, it may pull back up; 83.3 has to hold IMO. CANYEN also hit S2 and has so far been rejected. USDCHF long still potential.
Longs don't appear to be in play on GY yet; is heading for either 128.8, 128.56, or if that breaks, who knows. (ie., another 50-80 pips.) Interesting to see the yens participate in equity correlation as they go down, but not seemingly when equities go up.

Looking at sterling, it's one of the weakest pairs out there, not seeing any real love (demand). Someone elsewhere mentioned it's been like a toilet seat - up and down, on a <50 pip range on too many pairs, except for of course the all powerful EURUSD. I can't imagine the pros & funds are making enough or consistent money in fx trading of late - we need equities to head in one direction, I'm biasing upwards, but, given correlations to fx and affinity for the US is breaking & changing, who knows how that will reflect against risk & yen pairs.
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