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

  • #232,701
  • Oct 22, 2010 2:56am Oct 22, 2010 2:56am
Quoting travpip
No

Just a few things to bear in mind 118.75 january 2009 jpy/gbp, the low from the initial fallout before the ramifications were fully understood, hence the 2009 rally

usd/jpy 79.75 low from april 1995,

now the global fundamentals effecting these currencies is much better understood now then january 2009 and worse than the circumstances surrounding the lows in april 1995, that combined with timing and a now or never to print the lows the circumstances deserve is why we will be around 117...119 come next friday..
now pound is worst than 2009 or what ever bro...bare in mind UK debt vs their GDP atm...chow
  • #232,702
  • Oct 22, 2010 2:56am Oct 22, 2010 2:56am
Quoting grashid
..hope u got gold, aud,gu n eu when we talk in skype...

ok mate happy trading and good luck

bb in NY

chiow..

g
yes G im in
  • #232,703
  • Oct 22, 2010 3:55am Oct 22, 2010 3:55am
gillybabe if you are around what's your analyse?
thanks
  • #232,704
  • Edited 4:55am Oct 22, 2010 4:27am | Edited 4:55am
We have a number of significant UTLs that are being diligently respected by cable in it's downtrend since 1.61. Bearishness ensues and I am targeting 1.56 at least during/before NY. That breaks and we are getting to my longstanding target of 1.557, 1.552. I am leaning to the latter if we see a another down day in equities. Thursday expectations unfolded perfectly. We are building a relatively quick and convincing bearish daily chart. Going to call for a revisit of 1.53. We could well see a further unraveling of many hundreds of pips across xxxUSD pairs next week as strength returns to USD.

Check how EURUSD has seen a 70 pip bounce, yet sterling can't muster 25; am expecting a bit upwards to perhaps the next fib - beyond the DPP @ 1.5748 or 1.576 would be very surprising.

Sterling is likely to remain weaker than most pairs as they ramp up to likely QE2 injection - it should get the same weakening effect as the USD has gone through prior to actual announce; a double whammy for sterling.
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  • #232,705
  • Oct 22, 2010 8:08am Oct 22, 2010 8:08am
..
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  • #232,706
  • Oct 22, 2010 11:33am Oct 22, 2010 11:33am
..
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  • #232,707
  • Oct 22, 2010 11:41am Oct 22, 2010 11:41am
I still think we see a move to mid 128s. So I'm long. If I'm wrong, it's just money
  • #232,708
  • Oct 22, 2010 11:43am Oct 22, 2010 11:43am
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  • #232,709
  • Oct 22, 2010 2:31pm Oct 22, 2010 2:31pm
Quoting Beljevina
We have a number of significant UTLs that are being diligently respected by cable in it's downtrend since 1.61. Bearishness ensues and I am targeting 1.56 at least during/before NY. That breaks and we are getting to my longstanding target of 1.557, 1.552. I am leaning to the latter if we see a another down day in equities. Thursday expectations unfolded perfectly. We are building a relatively quick and convincing bearish daily chart. Going to call for a revisit of 1.53....
A lot of lines in your chart. I can hardly recognize your lines...but I agree with you on further GBP weakness. "Retal traders" are pretty much long in GBP and GBP/JPY based on hopes of

a) BOJ interventions
b) US QEII

Therefore the constant "dip buying mentality" - in hope for easy, no-brainer money making efforts.

BUT : currency trading ain´t easy money making, or ?
________________________________ Errare humanum est
  • #232,710
  • Oct 22, 2010 3:37pm Oct 22, 2010 3:37pm
Quoting MisterTrader
A lot of lines in your chart. I can hardly recognize your lines...but I agree with you on further GBP weakness. "Retal traders" are pretty much long in GBP and GBP/JPY based on hopes of

a) BOJ interventions
b) US QEII

Therefore the constant "dip buying mentality" - in hope for easy, no-brainer money making efforts.

BUT : currency trading ain´t easy money making, or ?
tom is results of G20, maybe they deal not to do effects on the currencies and to leave move naturally
if so then no more BOJ to rescue Yen of strength.
  • #232,711
  • Oct 23, 2010 7:16am Oct 23, 2010 7:16am
http://www.bloomberg.com/news/2010-1...ven-rates.html

Group of 20 finance chiefs pledged to avoid weakening their currencies to boost exports and to let markets increasingly set foreign exchange values to defuse trade tensions before they hurt the world economy......
  • #232,712
  • Oct 23, 2010 10:58am Oct 23, 2010 10:58am
So we should see GBPJPY/USDJPY up correct???
Quoting maanawi
http://www.bloomberg.com/news/2010-1...ven-rates.html

Group of 20 finance chiefs pledged to avoid weakening their currencies to boost exports and to let markets increasingly set foreign exchange values to defuse trade tensions before they hurt the world economy......
  • #232,713
  • Oct 23, 2010 11:44am Oct 23, 2010 11:44am
Quoting GBPJPYMaster
So we should see GBPJPY/USDJPY up correct???
this kill the hope for traders who is holding longs waiting boj to weaknen the Yen so i expect for GY if we have down move it will be followed with big drop caused by traders releasing the long positions else we wont have up rallies imo
  • #232,714
  • Oct 23, 2010 1:26pm Oct 23, 2010 1:26pm
Quoting forextine
I still think we see a move to mid 128s. So I'm long. If I'm wrong, it's just money
This kind of attitude will never bring you success in your trading. Money has psychology and if you have no respect for your hard earned money then kiss your money goodbye. The forex market will eat you alive with what you think will happen. Welcome to the world of forex.
  • #232,715
  • Oct 23, 2010 2:31pm Oct 23, 2010 2:31pm
Quoting mrroboto
This kind of attitude will never bring you success in your trading. Money has psychology and if you have no respect for your hard earned money then kiss your money goodbye. The forex market will eat you alive with what you think will happen. Welcome to the world of forex.
But come on man, it's his money and if that's how he wants to treat it, fair enough.

Unless he wants to actually make money in the market.
  • #232,716
  • Oct 23, 2010 2:33pm Oct 23, 2010 2:33pm
Quoting Beljevina
We have a number of significant UTLs that are being diligently respected by cable in it's downtrend since 1.61. Bearishness ensues and I am targeting 1.56 at least during/before NY. That breaks and we are getting to my longstanding target of 1.557, 1.552. I am leaning to the latter if we see a another down day in equities. Thursday expectations unfolded perfectly. We are building a relatively quick and convincing bearish daily chart. Going to call for a revisit of 1.53....
what inch screen are you trading on?
  • #232,717
  • Oct 23, 2010 2:52pm Oct 23, 2010 2:52pm
Quoting mrroboto
This kind of attitude will never bring you success in your trading. Money has psychology and if you have no respect for your hard earned money then kiss your money goodbye. The forex market will eat you alive with what you think will happen. Welcome to the world of forex.
Lol, I'm willing to take the risk, thanks for the concern and I'm not new to the forex world
  • #232,718
  • Oct 23, 2010 2:53pm Oct 23, 2010 2:53pm
Quoting qwertymyfx
But come on man, it's his money and if that's how he wants to treat it, fair enough.

Unless he wants to actually make money in the market.
I've made plenty in FOREX, once again thanks for your concern. Losses are part of the game, so yeah, I'm not going to start whining if this trade goes against me.

Thanks for the Saturday laugh.
  • #232,719
  • Oct 23, 2010 3:01pm Oct 23, 2010 3:01pm
What I see...
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  • #232,720
  • Oct 23, 2010 4:51pm Oct 23, 2010 4:51pm
Quoting forextine
What I see...Attachment
the pattern you have drawn is a bull flag in other words you are trying to pick a bottom ( risky ) bulls would enter around that area if broken and you would take profit

if your lucky and catch a bottom let the trade run but look at cable monthly and uj imo uj - uj could range down here for a while while cable could drop 1.54 - .3 putting geppy at a conservative 124 mark dipping lower
the weakness in gold is playing so we are at a point in strength (dollar)

gl
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