Listen to Scrat. Don't ever leave a trade unattended with no S/L. Believe it from one who has done it long ago..... I do believe we are going down at least for some sort of retracement. But at this point who the hell knows.

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

I'm just curious why do you think 109 in next couple of days? Don't you think this dollar strength was priced in before today? Plus can't close above 108.45

USD/JPY Discussion

I don't see this going anywhere. GBP/USD and USD/JPY cancelling each other. USD/JPY sitting on a pretty tough T/L. Looks to be an impasse'

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

You will give us some of your great charts when you get time ?

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

Well...I guess was in the middle. Closer to the side Small short position, but getting ready to close. All other positions closed. Where are you at my friend?

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

Just more BS — My favorite part of the statement. "Economic activity has continued to expand" Where in the hell do they see this at ? What a bunch of horseshit. Just a bunch of fedspeak to hold up the markets. July earnings report and NFP will ...

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

I agree if it can break the 213.50 level. Tough resistance. Correlation has been gone, when will it come back who the hell knows..... My past observations with these events is initial reaction is exact opposite what tomorrows reaction will be...

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

Well if that happens 216.00 would not be reached? March low was 192.50 area...

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

LMAO....you are the best !

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

Same here but it sure does seem awful toppy. I will definitely close my longs before 2:00 pm EST if not before. Then watch the action for the rest of the day.

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

Thank You — Scrat, Thank you for the explanation and examples. Extremely helpful.

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

Thank you Scrat. Now, since I am just a learning fool , what do we look for, for confirmation? EDIT: Nikkei is really taking a dump. -200

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

I agree and appreciate all the information you provide access to for our perusal.

USD/JPY Discussion

I noticed that but did not think about the movement of funds to carry trades. Actually thought it would be the opposite. Obviously I thought wrong.

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

Another question — Thank you for all the responses. Really is appreciated. Another question/observation. Daily chart: Is this legitimate divergence ?

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

LOL, I think you are right on. Lot of this has to do with oil. But I sure don't see oil going down. Seems to me they are buying every dip. I bet you will be right about the reverse correlation as well. What a mess, huh ?

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

My fundamental take — Fundamentally this BEAST has absolutely no reason to go up. Gbp is weak, Dollar is weak. Both economies suck. The disconnection to the equity markets is baffling to say the least. I can sit here and watch the Dow and S&P ...

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

My take — Daily Chart (pretty much naked) Little confusing right now. I see the upside but I also see a huge potential for a hard downside move. From July 2007 it seems like we have been in this same pattern. Large drops followed by a wedge ...

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

What are the chances of going to the pink and green areas on your chart? Thanks !

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

Sorry for the delay my friend. Yes the 4th chart was to show what happens when they meet. It is usually a sign of a large fall. Hope you are doing well.

Equity/Carry Trade Correlation