So far, it's done exactly that. I said earlier this week we were heading straight to the pink dot. As long as the daily LTL holds, we should kiss it. (which would push the break out until Monday) ho hum... people are such creatures of habit ...

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

You've got to love Bloomberg. Using Billabong as one of the bell weathers is a very subtle way of being dismissive of the drop.

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

thanks! was eyeing that earlier. waiting to see which way this consolidation around 154 breaks out.

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

cheers! If it gets that high, 155 would be a nice entry point. Let's see what the Germans have in mind.

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

Hi Malcomb Do you think 154.6 - 154.8 is a good target to re-enter shorts?

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

nice analysis. may the stars be with us! The GY is at a decision point within the next 8 hours. everything has followed the pattern exactly to this point. we are right on the lower trend line of the up channel to 170. if it fails to hold, ...

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

I'd take any pattern with a grain of salt right now. We're in a holding pattern until Geithner speaks. closed my short earlier but still bearish sentiment until we hit 153.7 area. We may get a small bounce to 156 before the trip down.

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

ok, at least I'm not the only one getting aggravated by this PA.... I have this image in my head, (phone rings) ... "yes Mr. President" Obama: "Timmy, Everything's ready to go. Trade Station's loaded on your laptop, and Ben set up the T3 Node into ...

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

not far off... yesterday's NY Times in a piece about Mugabe wanting to revive the Zim dollar. They interviewed some bus driver for the man on the street segment of the article. hahaha apparently bus fare is 3 trillion z dollars!

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

I'm not sure, but the bus driver said he didn't have any eggs to give the lady change. (true story!) LOL

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

Nothing collapses completely. Even in Zimbabwe you can pay for a bus ride with a chicken. By consumer economy, I didn't mean basic food and services. I was referring to automotive, technology, entertainment, garment industries, etc. which are the ...

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

America has been off the gold standard for decades, so the value of the money has been purely conceptual for a long time. The last thing the world needs is CNBC telling people the "truth". A run on the banks and complete collapse of the consumer ...

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

wasn't very bearish, it didn't break 156 and needs to close more than 50% of last bullish candle. The last three 1H candles haven't done that combined. This 1H may turn it around. If it can close below 155.9 then that support will be broken. But we ...

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

Unless we get good GB retail sales news and break 157, it's going into the center of the tiny pink circle. It's the apex of the bear channel and the ltl of the uptrend to 170. It would be nice to get a break out sooner, but many times the last ...

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

lol... 3 hours of chaos in a 30 pip range. finally we broke out! You guys must have mad skill to trade this PA. I'm going to stick with Asia and London from now on unless NY is trending, they're like a Sunday drive compared to this.

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

I feel the same way. Day trading fits where I am right now. Maybe someday when my pockets are deep enough intraday would make sense. I figure someone trading 30 lots at 100 to 1 leverage from March until now would be pretty happy with the run the GU ...

Cable Update (GBPUSD)

I'm not having good luck trading NY lately. I got hammered on a short I opened earlier when the GY was dropping after the NYSE open. I thought the Dow was going to drop further. As long as DJ 9130 and Daily S1 at 9147 hold, we're not going up or ...

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

you're right. I missed the Tokyo session so was initially surprised.

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

wow! The GY dropped harder and faster than I was expecting.... The Japan GDP numbers are truly awful. The expected increase was much higher from the government intervention. In reality it falls well below the breakeven. I can't believe the news is ...

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

weekly outlook — Last week we had the move down to 156. from 163.0. A 61.8% retrace to 160.3 followed by a retest of 156. finishing with a bounce up to 23.6% at 157.0. Major resistance for this week's range is 158.4, Major Support 153.8 I see ...

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