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

  • #231,801
  • Sep 15, 2010 1:14am Sep 15, 2010 1:14am
Resistance here at 131.66 and 1hr not able to close above.

Also close to daily 50 ema .A retrace would be more logical but I'am only taking longs atm.

A 4hr close above 131.50 area , I will long again.
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  • #231,802
  • Sep 15, 2010 1:20am Sep 15, 2010 1:20am
Quoting honeybhi
Resistance here at 131.66 and 1hr not able to close above.

Also close to daily 50 ema .A retrace would be more logical but I'am only taking longs atm.

A 4hr close above 131.50 area , I will long again.
Nice work on your trade earlier!

Same here, not attempting any shorts at the moment.

GU and EU are relatvely calmer waters for the time being. Waiting for London and will decide then if an entry looks inviting.
  • #231,803
  • Sep 15, 2010 1:30am Sep 15, 2010 1:30am
Quoting Fudomyo
Nice work on your trade earlier!

Same here, not attempting any shorts at the moment.

GU and EU are relatvely calmer waters for the time being. Waiting for London and will decide then if an entry looks inviting.
4hr still has lot more room to go up,waiting for reload .

Maybe test of the broken trednline and support around 130 and 130.50 area.
  • #231,804
  • Sep 15, 2010 2:10am Sep 15, 2010 2:10am
There's talk of further intervention in JPY currently ...

UJ up over it's last high ... not sure about the timing & accuracy on this report ... why'd they wait (BoJ, or do they commission this out to London?) until London traders (started their day about 30 minutes ago @ 7:30 local time) arrived to their desks & FTSE opens?

Regardless, we're rising ... let's go!
  • #231,805
  • Edited 2:36am Sep 15, 2010 2:19am | Edited 2:36am
Next up should be 133.60 and 134.11 if this does not retrace.

So far UJ pulled this now GU also seems like joining the party.

edit: weekly R2 132.15

50% fibo from 137.75-127.62 at 132.69.
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  • #231,806
  • Sep 15, 2010 2:23am Sep 15, 2010 2:23am
Quoting Beljevina
There's talk of further intervention in JPY currently ...

UJ up over it's last high ... not sure about the timing on this one ... why'd they wait (BoJ, or do they commission this out to London?) until London traders (started their day about 30 minutes ago @ 7:30 local time) arrived to their desks & FTSE opens.

Regardless, we're rising ... let's go!
It's day one, so they will probably protect their ground more fiercely in the beginning. But also what better opportunity for the other banks to catch the retailers on the wrong side of the trade too. The market could be moving up without BOJ as well.
  • #231,807
  • Sep 15, 2010 2:30am Sep 15, 2010 2:30am
Quoting Fudomyo
It's day one, so they will probably protect their ground more fiercely in the beginning. But also what better opportunity for the other banks to catch the retailers on the wrong side of the short too. The market could be moving up without BOJ as well.
i don't think this Euro session movement has BoJ intervention. If it did, the spike would come alot quicker and far more unidirectional. Strange they wouldn't take advantage of this calm period though to push through their agenda. There were several BB reports few months back where large Japanese companies were clamouring that UJ had to be at least 88 before they would be profitable.
  • #231,808
  • Sep 15, 2010 2:43am Sep 15, 2010 2:43am
Quoting Eulogy
i don't think this Euro session movement has BoJ intervention. If it did, the spike would come alot quicker and far more unidirectional. Strange they wouldn't take advantage of this calm period though to push through their agenda. There were several BB reports few months back where large Japanese companies were clamouring that UJ had to be at least 88 before they would be profitable.
I was thinking similarly. Whatever it is, this is a nice spot to bank some more profit. out at 132.42
  • #231,809
  • Sep 15, 2010 2:56am Sep 15, 2010 2:56am
Entered small Short at 132.50 Sl 133.30

50% fibo on daily .Lets see if we can pull back.Risky trade.
  • #231,810
  • Sep 15, 2010 2:59am Sep 15, 2010 2:59am
Quoting honeybhi
Entered small Short at 132.50 Sl 133.30
could keep going a bit higher. I'm thinking 132.8 for possible short.
  • #231,811
  • Sep 15, 2010 3:03am Sep 15, 2010 3:03am
Quoting honeybhi
Entered small Short at 132.50 Sl 133.30
Beware that BoJ is trying to stop shorting with this intervention. While we can't confirm they're in the market now, they could show up at any time, and create a 80 pip pop in seconds. Not sure to what extent your position is and impact on already taken profits, but IMHO that seems like a large SL. There's also the potential impact of the news in 30 min, so it may work out, but who really knows until we get there.
  • #231,812
  • Sep 15, 2010 3:06am Sep 15, 2010 3:06am
Quoting Fudomyo
could keep going a bit higher. I'm thinking 132.8 for possible short.
Spot on mate as usual.
  • #231,813
  • Sep 15, 2010 3:09am Sep 15, 2010 3:09am
Quoting Beljevina
Beware that BoJ is trying to stop shorting with this intervention. While we can't confirm they're in the market now, they could show up at any time, and create a 80 pip pop in seconds. Not sure to what extent your position is and impact on already taken profits, but IMHO that seems like a large SL. There's also the potential impact of the news in 30 min, so it may work out, but who really knows until we get there.
Risking only 10% of my profits.Will close if it pops up.

Technically its time to retrace but anything can happen.400+ pips up and 50% fibo on daily.
  • #231,814
  • Sep 15, 2010 3:13am Sep 15, 2010 3:13am
Quoting Fudomyo
could keep going a bit higher. I'm thinking 132.8 for possible short.
How do you guys call it to the pip? High on my chart is 132.807. Just amazing!!!
  • #231,815
  • Sep 15, 2010 3:16am Sep 15, 2010 3:16am
Quoting honeybhi
Risking only 10% of my profits.Will close if it pops up.

Technically its time to retrace but anything can happen.400+ pips up and 50% fibo on daily.
If we break below 132.42, first target 132.15
  • #231,816
  • Sep 15, 2010 3:17am Sep 15, 2010 3:17am
Woke up for a hot second to see I got out of my longs just barely at target 132.65

I love it!

Also, was filled on my GBP/USD longs at 1.5470 and sitting nice right now. I'll have to do some more analysis today and update the blog with new charts, etc. I'll probably be on the sidelines for New York in regards to GBP/JPY as I'm quite happy with the target in such a short time-frame.
check out my blog: forexmademillionaire dot com
  • #231,817
  • Sep 15, 2010 3:21am Sep 15, 2010 3:21am
Quoting Fudomyo
If we break below 132.42, first target 132.15
I'am out bro.Not sure whether the news will pump or dump.
  • #231,818
  • Sep 15, 2010 3:24am Sep 15, 2010 3:24am
Quoting honeybhi
I'am out bro.Not sure whether the news will pump or dump.
good idea...me too. looks like 132.42 held price for the moment... +25 pips.
  • #231,819
  • Sep 15, 2010 3:29am Sep 15, 2010 3:29am
Quoting honeybhi
I'am out bro.Not sure whether the news will pump or dump.
Good Analysis Bro Abhi..i am also out from my short 132.60 waiting for news then decide to wait or short from the spot..

thanks for your posts and analysis

Ub
  • #231,820
  • Sep 15, 2010 3:32am Sep 15, 2010 3:32am
Quoting honeybhi
I'am out bro.Not sure whether the news will pump or dump.
oopss wrong decision bro will wait for a new setup again

Ub
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