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- Richardj replied Aug 15, 2007
If you're bored... draw ma380 and ma580 on a weekly chart.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Gosh - sorry! - I was looking at the GU chart - ignore what I said.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Possible bounce off ma 650 6 hrs in my 'system'... but remember I'm lousy at retracements. Aus - your thoughts?
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
That's exactly my intention.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
I'm already preparing to start doing that that, strangely enough, if things turn out all right over the next 8 months or so... I've wanted for several years now to do something 'good' (silly as that may sound)... and I'm in the process of setting up ...
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
I would suggest people have the occasional look at the other JPY crosses, one by one.. and then look at the cross between that pair and GBP. This gives a good clue as to what will happen to us.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Oh dear... when you worry, I worry!
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Gosh, I know it can be annoying to hear people celebrating their successes... but I put a 100K put option on AUDJPY a little before the top - around 107.00 - and have made 13 figs on it. I really think that's a good method in FX: have one cross that ...
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
You returned in very timely fashion, Aus! You're short, right?
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Well, simply that AUDGBP has been dropping like mad - so AUDJPY was dropping much faster than GJ. Obviously, GJ will be dragged down, eventually, by that move - provided that AUDGBP slows down or stops.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Or if you prefer (though it's rather depressing for those without AUD shorts), look at AUDGBP.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Look at AUDJPY! Once AUDGBP reaches 0.40, it should be our chance to catch them up.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
We've dropped so far, and so fast, that we've left an empty hole of zero force behind us. The downwards forces need time to catch us up... a day or two until they start pulling us down again. In the meantime, the only downward force is in the weekly ...
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Nikkei down 428 points in morning session.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
MA 55 on weekly is now developing strong downwards torque: this is reassuring against the possibility of a dramatic retracement.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
In my opinion, it's certainly possible that we might retrace again to resistance at the old 235.50 approx. support level (now resistance). I'm slightly reducing my short position, and placing sell order at 235.30 against this contingency.
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
I have to admit, reviewing the charts again, that whilst massive downward forces are unquestionably in play, price has dropped so far beneath those downward-pulling forces that there really is no real reassurance that the drop will continue without ...
Auslanco - GBP/JPY and GBP/USD (newstrade)
- Richardj replied Aug 15, 2007
Did you think we've reached the bottom of your mountain?
Auslanco - GBP/JPY and GBP/USD (newstrade)