UK fundies — DT has made some good points, re upcoming UK budget measures. I suspect though that Sterling will take a bit more battering before we see any significant retrace. News eminating from the new UK government this weekend is strongly ...

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

shorts done I think — Volumes showing signs of buyers this past hour or so. Gunna take a wee long if we break 134. (tight S/L)

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

Divergences — Not seeing too much in the way of divergence either way tbh. Not anything I would trade anyway. The 30m does have some unfinished business to the upside at around 137-137.5, but i'm not risking longs right now.

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

Support zone — Took some profits on my shorts at 135. This area provided good support after last week's shenanigans and I expect it will again. Will scalp short if we crash below 135 with a tight S/L.

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

For Q, Piters etc.... — Saw this over at the Oanda forums and thought i'd share. Makes very interesting reading I think. ********************************** This story is probably closer to the truth of what happened on Thursday. by Scott ...

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

EU — Big bomb exploded in Grece in the last hour.

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

Not really that odd — Took 2 hours to break from the narrow range and 45 mins to fall back. Not that extraordinary I think. This thing IS screaming short, but I still believe we need to see a higher pop up before it gets sent back down. Every ...

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

Fair enough. There's every chance IMO we'll see a pop up to the last high if the UK PM situation gets resolved today. I'm still short in a sub account btw, but scalping this market pop-up too.

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

Would be risky shorting this until we know what's happening with the DCam/Clegg/Brown news later today. Cameron set to be installed as PM as early as tonight.

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

Hmmmm — Not enough longs suckered into this thing yet. 1hr looks set to rally back IMO. Will scalp any quick moves through resistance. BUT Will add more small shorts in a sub acocunt as she goes.

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

I remember your last great call.

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

Shorts — Been adding small shorts as we go higher.

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

for what it's worth..... — Fundamentally, the hung parliament is bad news for Sterling, but the kind of moves we may have seen have been swallowed in the run down last week. But, the longer the UK stays in limbo, the less the markets will like ...

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

Worth bearing in mind..... — All this talk of a fat finger or glitch or conspiracy is clouding the most important aspect of all IMO: GY had already dropped over 700 pips last week before Thursday's 15m panic. Was this pre-election Sterling ...

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

Yep, cheers. Damn IE7 settings.

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

Link no worky.

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

I've been thinking this myself. What happens when the whole trading world become TA proficient? Good ole Gann, Stocs, MACD etc can't work for ever. There have been more instances of market shenanigans this past year or so where chart reading is ...

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

This is actually a really good point. And lends weight to the shake-out-then-buy theory. 130 could indeed be the bottom, though I think we'll retest somewhere near there at some point before going higher.

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

Every market affected — It didn't affect the Dow only. There was a 300 pip 5m bar on GY at 7.45 BST. I shouldn't laugh; there will have been thousands of traders wiped out by that move through no fault of their own. No one can ...

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

Small Long — Entered a small long here @ 135.87. Early indications are the Conservatives are hopeful of a majority.

UK Election Countdown.....