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

  • #232,641
  • Oct 19, 2010 1:18pm Oct 19, 2010 1:18pm
I took a long, TP 129, although I'll take less than that, just incase it spikes, I want to be covered for a higher move , see attached:

Attached Image (click to enlarge)
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  • #232,642
  • Edited 5:09pm Oct 19, 2010 4:48pm | Edited 5:09pm
Quoting Beljevina
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....
I've been buying some USD for the past few weeks now. Frankly I'm still really confused at why so many people are so carry xxxUSD bullish. To me the QE2/lite 500lb dancing white elephant in the room has been so overplayed that it seems more like a giant headfake than anything else. The disconnect between the high US denom bond prices and the DXY plummeting to the lows can only last for so long.

IMO people are starting to realise that QE may not be the magical enema they were hoping for but just another lubricant application and while they've most likely already priced in QE2 by circa 150% I'm fearing that the market will fall if QE2 is announced at less than $3T, or he folds to pressure and scraps QE2 entirely causing a flash crash of 3000 points on the DJIA. Either way he will shit himself, its just a matter of how hard/explosively he does so.

PS. Cable target 1.535
  • #232,643
  • Oct 19, 2010 5:15pm Oct 19, 2010 5:15pm
Im Selling @ 127.82-Stops 128.22-Limit 127.11,125.55GBPJPY--Broke Daily Low and under Gann with weak GBP
  • #232,644
  • Oct 19, 2010 7:06pm Oct 19, 2010 7:06pm
Morning all.

Brake 127.43 area next should be 126.18.

Else up from here.
4hr pretty much oversold.

Good day to all.
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  • #232,645
  • Oct 19, 2010 7:32pm Oct 19, 2010 7:32pm
Quoting honeybhi
Morning all.

Brake 127.43 area next should be 126.18.

Else up from here.
4hr pretty much oversold.

Good day to all.

No kidding aready! my long will not bite though and just hanging at S/R....Pretty good scalpen.

Cheers
  • #232,646
  • Oct 19, 2010 9:46pm Oct 19, 2010 9:46pm
wow..geppy wanna retrace...today...i'm bias bullish...right now...
  • #232,647
  • Oct 19, 2010 11:18pm Oct 19, 2010 11:18pm
Quoting fisingfx
wow..geppy wanna retrace...today...i'm bias bullish...right now...
You serious? The day of the UK government spending review and you're long Sterling? Sterling has been falling all week in anticipation of what these reviews recommend.

I'm not saying your long will fail, but you're making things more difficult for yourself by ignoring the trend.
  • #232,648
  • Oct 20, 2010 1:26am Oct 20, 2010 1:26am
Selling @ 127.85-LOW LOTS NEWS IN 5MINS Stops 128.30-TP 127.11,126.33GBPJPY
Quoting GBPJPYMaster
Im Selling @ 127.82-Stops 128.22-Limit 127.11,125.55GBPJPY--Broke Daily Low and under Gann with weak GBP
  • #232,649
  • Oct 20, 2010 2:05am Oct 20, 2010 2:05am
Quoting GBPJPYMaster
Selling @ 127.85-LOW LOTS NEWS IN 5MINS Stops 128.30-TP 127.11,126.33GBPJPY
I am the opposite 128.30 TP 127.20 SL although its not looking promising
  • #232,650
  • Oct 20, 2010 2:11am Oct 20, 2010 2:11am
I wont short this because of the 4hr stochs shown in chart.

But 126.18 target is possible based on daily charts.

I will wait for price to get to 126.18 area or enter long when I get clear signal.

My pos is flat now.
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  • #232,651
  • Oct 20, 2010 2:33am Oct 20, 2010 2:33am
If the labelling is not right..

Red channel is pretty Deep....
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Markets are not Random, they are designed!
  • #232,652
  • Oct 20, 2010 2:39am Oct 20, 2010 2:39am
Quoting ukdaytrader
You serious? The day of the UK government spending review and you're long Sterling? Sterling has been falling all week in anticipation of what these reviews recommend.

I'm not saying your long will fail, but you're making things more difficult for yourself by ignoring the trend.
agreed! no point of going long now...just be patience, nowday..the retracement have been so tiny and it aint't enough for all of us..
  • #232,653
  • Oct 20, 2010 5:18am Oct 20, 2010 5:18am
Quoting PipinStein
I know you're a big fan of untested support. What about the area around 78.5 as a support level?

hey pippin...

i spotted that 78.50 level--i was expecting it to drop to 78.5 after the breakout yesterday,but was shy of 17 pips.

but over i see 75.30 and that can be the daily down TL aswell ? wht pattern is this on daily ?? mega bearflag ? it looks like it .. so we will see wht happen after 75 level ..? wht if we break it ? down more and that will be alot---

eur/jpy will most likely drop another 400/500 pips before we reverse,,and that mean aud/jpy and gbp/jpy will follow---

gbp/jpy 123.80/84 -- its in line with eur/jpy atm..

we will be bearish till end of Q4.

gl
  • #232,654
  • Oct 20, 2010 6:31am Oct 20, 2010 6:31am
True I do see Divergence in the market also everytime Im up 20pips I just lockin pips on days like this
Quoting honeybhi
I wont short this because of the 4hr stochs shown in chart.

But 126.18 target is possible based on daily charts.

I will wait for price to get to 126.18 area or enter long when I get clear signal.

My pos is flat now.
  • #232,655
  • Oct 20, 2010 6:50am Oct 20, 2010 6:50am
possible ?
good luck
(hourly chart)
Attached Image
  • #232,656
  • Oct 20, 2010 7:11am Oct 20, 2010 7:11am
Got some support here on the 3hr. I closed my longs from sub 128 for 30 pips or so.

Going to continue to flip, longs only due to it being bottom of channel still, that and POMO might drive up risk pairs.
  • #232,657
  • Oct 20, 2010 7:53am Oct 20, 2010 7:53am
http://cdn.forexfactory.com/attachme...1&d=1287506589
now watch 128.75 / 128.65 if these levels broke I will update else we may have reverse from mentioned levels
good luck
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  • #232,658
  • Oct 20, 2010 8:53am Oct 20, 2010 8:53am
I took this opportunity to work my way out of my longs... things just didn't materialize and I think we're gonna crash hard on this baby. USD is getting beat up again this morning, but I think it's a temporary shakeup (i.e. bull trap for all those XXXUSD buyers). I'm short Euro from 1.3940 and will short some GBP/JPY too. The rally on this pair has been pretty muted compared to the Euro and Cable ones. It seems when they rally, GBP/JPY's up-move is a struggle and when they fall it drops easily. So the line of least resistance seems down for now.
check out my blog: forexmademillionaire dot com
  • #232,659
  • Oct 20, 2010 9:16am Oct 20, 2010 9:16am
Quoting maanawi
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

thanks mate...alhamduillah...almost 26hr total travelling time...the worst ever my business trip.

now at Penang airport..fuhh...

ok...mm..almost broke 127 area last strong support ya...
ok if today close back above 128.60/70...then back to 131.70 ....till market decide which way next....but for me...another short rallies will starting back at that 131 area...

ok..my friend already come...n going back to my home now...good luck guys n take care...

g
  • #232,660
  • Oct 20, 2010 9:22am Oct 20, 2010 9:22am
Quoting Raza
If the labelling is not right..

Red channel is pretty Deep....
Count looking good so far.
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