If 131.50 holds, I think we might see 134 before the move down to 129. 129 is free money long if we get there. I'm buying half position here at 131.50 and buy limit the other at 129. SL at 128.50.

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

It's because managing a hedge fund gives you large performance fees. The top hedge fund managers make three to four billions a year, that's their take home pay. Trading your own money isn't gonna get you billions of dollars a year, unless you ...

What is your weekly return?

Closed long at 132.65. We might be heading to 130 from here or maybe one push up to 133.23, then down. Sidelined for now.

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

I think 131.17 (50% fib) should be a very nice place to go long for at least 500 pips up to 136.20 (monthly pivot). Price could be in ranging mode with the top at 140 and bottom at 129 for the next several months until 140 is broken. Monthly gann ...

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

I think we'll see 139.40 by the end of this month. The question now will GJ visit the 50% fib first at 131.17 before heading to 139.40. I'm taking a long here at 134.70 (half position) and the other half waiting at 131.20. SL 130. TP 139.40.

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

G7 intervention caught many by surprise. Since they stated they would intervene again if necessary, traders were not willing to commit. How do you trade when technicals are pointing down but the central banks want you to buy? All the intervention ...

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

Bears are not done. UJ trading below all-time low so I expect it to tank pretty hard soon. I don't even know where the support for UJ is since price has never gotten this low. Short GJ 127.20, SL 130, TP 123, 119.

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

With the BOJ intervening, it becomes like crapshoot trading any yen crosses. The technical for GJ still points to 125 in two months. But with the BOJ defending UJ from falling any further, it will be hard for GJ to tank. Seems like 129.50 will be ...

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

YES!! Big money!!! Closed half at 131.40 and half to 125. The next big set-up should be a buy at around 125 area assuming price does get there. 129.40 could also be a turning point but I can only wait for price to get and see how the support holds ...

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

I think price is preparing for a large drop in the coming 2 months. Each upward movement towards resistance (135 area) has been sold off very strongly and price has been unable to make new highs. This is a classic rejection at resistance and after ...

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

This could finally be the day of reckoning. Shorts should cut losses at 135.60. Longs let them ride until 139.60.

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

4h-channel so I'm long targeting 134 area.

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

135.40 is a strong resistance area. I don't think it will break with this 2nd attempt. What happens now is we will see a pull back to either 133.20 or 131.70 and then resumption of uptrend to 136.80 and 139.60 next two weeks.

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

Current price = 1.60 Projection = 1.65 in 2 weeks

Cable Update (GBPUSD)

Looks like MIG Bank is the way to go with that colossal leverage. I just chatted with one of their reps and he confirmed that they are not affected by CFTC regulations. If this is true, then this will be my new broker for some time. Kudos!

no regulations stopping US residents from opening offshore accounts

Is it just me or does the forex market seem "dead" the last couple of months after the 100:1 leverage rule took effect? This news really hit me hard because I rely on leverage to magnify my winnings. I dont have millions of dollars to trade with and ...

Thoughts on 50:1 Leverage

Dukascopy has a pretty good reputation as an ECN. They deal mostly with institutional traders and big clients. When you have $50k, you can also shop for an ECN/broker with the lowest spread as well. FXDD generally doesn't offer very good spreads.

Is it safe to deposit $50,000 in a single broker?

Looks to me like 136 has been acting as strong support now. Price may finally be heading towards 139 area before heading down again.

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

All those major hedge funds calling for EU 1.18 by the end of the year, I wonder what they're thinking now. So many people were bearish on EU a few weeks ago, I guess they are all "losing their shirts".

Cable Update (GBPUSD)

Zipsignals are zulutrade have some decent traders. I would give out signals but I don't think you could afford it.

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