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

  • #232,621
  • Oct 18, 2010 2:34am Oct 18, 2010 2:34am
Watch 128.75 and 128.20 area for bounce .

Good luck to all .
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  • #232,622
  • Oct 18, 2010 1:08pm Oct 18, 2010 1:08pm
don't see a drop in gold soon, it won't be soon enough

bloody joke if you ask me I thought Friday lunch time the move was on but defended again just like today we are seeing signs of weakness but someone keeps buying hence gu uj eu uc running my patience to catch a swing so closing out daily until we see the top

good luck guys
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  • #232,623
  • Oct 18, 2010 1:16pm Oct 18, 2010 1:16pm
Too bad for main cross pair for bullish right now..unless have something 'shock' news...

so with EU n GU.....for bear


Take a look this weekly relative strength index...no way for USD bull for the time being...

Short all rallies?...crazy...GY look like may break 128.60 to test back 127.10/20...
Break this 127.10/20...then welcome 121-118 area soon....

just my 2 cent..

g
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  • #232,624
  • Oct 18, 2010 1:42pm Oct 18, 2010 1:42pm
don't be worried about being wrong just think about your entry times going into the market when they are closing the books isnt a good idea

all the best
  • #232,625
  • Oct 18, 2010 1:54pm Oct 18, 2010 1:54pm
What a lovely 5pm NY close coming up ... didn't actually short GBPUSD but rather have been shorting EURUSD up to and close to 1.4; would have fared 20 or so pips better with GU - oh well. Nice technical close coming up below yesterday's. Seems to be tied to Geithner's very agressive comments saying the US wil not engage in devaluation and "not in our lifetime will the dollar stop being a reserve currency.' - Whoa Betsey! Them's fighting words? How much can you print Timmy? (I know, they press buttons mostly) Anyway, Geinther emphasize the strong $ mantra as he said the US will preserve confidence in a 'strong dollar.'

I vote for a retest of 1.383 in EU, and 1.584 in GU.

Sounds like a currency war start to me ... BoJ/Noda, are you listening?
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  • #232,626
  • Oct 18, 2010 2:22pm Oct 18, 2010 2:22pm
Quoting cohiba pips
don't see a drop in gold soon, it won't be soon enough

bloody joke if you ask me I thought Friday lunch time the move was on but defended again just like today we are seeing signs of weakness but someone keeps buying hence gu uj eu uc running my patience to catch a swing so closing out daily until we see the top

good luck guys
Couldn't agree more ... while I'm sure there's more upside, that's mid-term & onwards. And, if the USDX and double bottom USDJPY hold and USD strength returns, silly gold should come down too. It is after all not more valuable but rather the US dollars it's priced in are becoming worth less every day. Mind you, was looking at a Bloomberg chart today - some commodities have fared better than gold - rubber was one of them!

Quoting supa
Guys - I am new to this thread and also may be new to trading though I have been learning for almost one year.

Can somebody please give me a brief summary of the trading system being followed on this thread?

supa
Yes this is one of the flagship FF threads, but I can't recall the last person that actually stuck to the auslanco method. The thread has evolved and to some extent degenerated, and basically represent's poster's wildly varying views of where GBPUSD/JPY are heading.

Everyone's trading evolves, the markets change and people adapted, looking for what works for them. Not sure what your trading experience is and your intentions, but every trader evolves, loses money, wisens up, and finds what works for him. Learning from others is part of that process - just make sure you assess posters adequately. Welcome!
  • #232,627
  • Oct 18, 2010 2:31pm Oct 18, 2010 2:31pm
I typed my trade up wrong--That's why I erased--sorry--Correction BUYING @ 129.09- Stops 128.69-Limit 129.77,130.55GBPJPY

Quoting cohiba pips
don't be worried about being wrong just think about your entry times going into the market when they are closing the books isnt a good idea

all the best
  • #232,628
  • Oct 18, 2010 2:47pm Oct 18, 2010 2:47pm
Quoting GBPJPYMaster
I typed my trade up wrong--That's why I erased--sorry--Correction BUYING @ 129.09- Stops 128.69-Limit 129.77,130.55GBPJPY
i make bad calls all the time but i wouldn't post them without a chart or plan etc and I don't always have to be in a trade ( that took time to learn and certain folk pointed that out to me )
I wouldnt be buying geppy right now either you might see a few pips higher from here but not by much I could be very wrong but the futures are marked down by quite a bit anyway all the best friend
  • #232,629
  • Oct 18, 2010 2:55pm Oct 18, 2010 2:55pm
view the chart 128.89 is strong support its been tested several times
so during asia i would short below this price and stand aside untill a certain resistance point has been taken

gd luck

thanks for the reply bel
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  • #232,630
  • Oct 18, 2010 5:42pm Oct 18, 2010 5:42pm
lOCKIN ON BUY-
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Quoting GBPJPYMaster
I typed my trade up wrong--That's why I erased--sorry--Correction BUYING @ 129.09- Stops 128.69-Limit 129.77,130.55GBPJPY
  • #232,631
  • Oct 18, 2010 5:49pm Oct 18, 2010 5:49pm
Quoting GBPJPYMaster
lOCKIN ON BUY-Attachment
trade but i still wouldn't buy

good luck mate
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  • #232,632
  • Oct 19, 2010 2:23am Oct 19, 2010 2:23am
Daily
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  • #232,633
  • Oct 19, 2010 6:31am Oct 19, 2010 6:31am
Quoting maanawi
what is the view?

I will take long at the green area once its gain i will lock it and update later
SL below the green area
  • #232,634
  • Oct 19, 2010 7:53am Oct 19, 2010 7:53am
Quoting Geppy
I sold GBP/JPY this morning at 130.66 based on the upper channel resistance of the downtrend channel on a 4 hour chart. I'd post my chart, but don't currently have access. I'm sure someone has it drawn though. I see 128.50 as a reasonable target... that would take us near the lower portion of the down trend channel.
Well, I reached my 128.50 profit target last night and I've actually taken a long now at exactly 128.43 with a potential target of 130.15 I think this is a conservative, "safer" target if we head higher and I'm just playing the 4 hour flag until it breaks either way (bias is down right now).

Hope everyone is doing well.
check out my blog: forexmademillionaire dot com
  • #232,635
  • Oct 19, 2010 7:58am Oct 19, 2010 7:58am
aud/jpy about to break supp of 30 day top - we will be looking for 75.30 as a main support area !
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  • #232,636
  • Oct 19, 2010 9:26am Oct 19, 2010 9:26am
Quoting grashid
Too bad for main cross pair for bullish right now..unless have something 'shock' news...

so with EU n GU.....for bear


Take a look this weekly relative strength index...no way for USD bull for the time being...

Short all rallies?...crazy...GY look like may break 128.60 to test back 127.10/20...Break this 127.10/20...then welcome 121-118 area soon....

just my 2 cent..

g
one more to go..127.10/20..then 124.80 atleast...

Laptop Bat almost gone while waiting plane back to normal...just saw some price ....mmm..

my flight already 6.5hr delay at Madrid airport..suck

all of us almost die due to fuel leakage just now...what suck Thai Airways..

no more after this n back to my Singapore airline or Malaysian airline....damm

bb later maybe on Thursday....take care n good luck guys
  • #232,637
  • Oct 19, 2010 9:32am Oct 19, 2010 9:32am
Quoting Geppy
Well, I reached my 128.50 profit target last night and I've actually taken a long now at exactly 128.43 with a potential target of 130.15 I think this is a conservative, "safer" target if we head higher and I'm just playing the 4 hour flag until it breaks either way (bias is down right now).

Hope everyone is doing well.
Nice trade and extra points for patience on that one! Going forward, be careful of the very real possibility of QE announcement London Wednesday morning session & a plethora of sterling data. If QE happens - and BoE has led the FED in the past - there's no time like the present (ie., before Nov 3) to announce it. I'm still looking for 1.55 in GU, and if UK QE2 happens, we're sailing onwards.

Regardless, the UK budget will be scathing and swings potentially huge. I'm finding GY just too messed up mostly due to UJ and the combination of a weak pound. GY nor GU frankly look like they're recovering into the US afternoon, but hopefully I'm wrong, as I'm trying to longing GU, but not finding the reasons or place. And, swervin' Mervyn blabs about the UK @ 2:50 EST - he has almost a perfect record of talking sterling down!
  • #232,638
  • Oct 19, 2010 9:49am Oct 19, 2010 9:49am
Quoting grashid
one more to go..127.10/20..then 124.80 atleast...

Laptop Bat almost gone while waiting plane back to normal...just saw some price ....mmm..

my flight already 6.5hr delay at Madrid airport..suck

all of us almost die due to fuel leakage just now...what suck Thai Airways..

no more after this n back to my Singapore airline or Malaysian airline....damm

bb later maybe on Thursday....take care n good luck guys
back safe G

---

http://www.forexfactory.com/attachme...5&d=1286070745

I think this PA near to your view

here is my update , 128.21 is my week L-low so im holding on my long and if its break down I will buy again and i will wait for price to come to 128.21 again then I close today long positions.
just trade longs carefully if today close below 128.50
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  • #232,639
  • Oct 19, 2010 9:54am Oct 19, 2010 9:54am
gbp/jpy next stop will be 125.30 +- then one way to 123.80 ,my all time support,,

eur/jpy has just broke the down TL,aud/jpy break of support hold it

jpy crosses dive to lower levels

why long now??

turn your screen around then you will see longs all over
  • #232,640
  • Oct 19, 2010 1:13pm Oct 19, 2010 1:13pm
Quoting fx-gucci
aud/jpy about to break supp of 30 day top - we will be looking for 75.30 as a main support area !

I know you're a big fan of untested support. What about the area around 78.5 as a support level?
Without a trade plan, say bye bye to your account & hello to frustration.
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