Weekly 200SMA (214.00) is going to be super strong resistance. Have to have a solid break above for any bullish continuation.

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

Well, considering the state of everything....this time I agree. But I would say by tomorrow this time more like 103.80. It will give it all back and then some....

USD/JPY Discussion

Bye-bye Merrill Lynch -$4.95/share. -$9B writeoff. 80% of profits made in FOREX ! Oh wait ... you can't short the stock!

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

Earnings reports; IBM, Microsoft, Merrill Lynch and to top it all off. The SEC is going to announce the EXACT requirements for its new short selling rule that goes into effect on Monday. Funny it only applies to the TOP financial firms in the world ...

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

Looking back at 4HR charts. Last few times we had a huge move like this, gave it all back and then some in the following 2 days. Just an observation. This is all about oil. Today was options expiration for oil contracts. Tomorrow is options ...

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

Same here. Where are you looking at for t/p level?

No Brainer Trades

Shorted at 213.50. Weekly R2 at 213.60 area. Should limit upside movement. But I sure did close my longs to early. Oh well......

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

Something strange — Gold up over $13.00 ??? Something smells funny about this BIG move up. Oh well I am sitting on the sidelines for now.....

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

Same here. Has "tried" to flip down twice. This area is critical as Lilmoe said. Could reverse from here or 212.60 area. Tomorrow is supposed to be a reversal day so who knows...

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

Thank you for the detailed explanation. Much appreciated. Sent you a PM. Small short at 211.80 with a tight s/l. But not much confidence. I do believe we will see a selloff later today in the Dow. Doesn't seem like much conviction in buying today. ...

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

Where to from here ??? — Price sitting close to Daily Gann. 211.88. Also 61.8 from from total move down from 213.90 area. Retrace from here to 210.60 area and then back up? Sure wouldn't want to go long here....but what the hell do I know.... ...

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

Absolutely 100% agree. Lines at the second largest bank failure in USA history and the stk market rallies ..... what a f......g joke. I see 200 by end of month. Same as last summer.

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

Consolidation — This is just consolidation for the next leg down. Shorting all rallies.

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

Same here......looking for some G/U weakness. Which should provide more downside momentum for the beast. What about our GBP/CHF my friend. Looks like it may close below T/L at 2.0190 area...

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

Right on my friend. Most people are actually trading REAL money accounts. Kind of hard to plan and watch your intraday trades and post at the same time. Hope you do well!

USD/JPY Discussion

Stuck? — Are we going to get stuck between Daily 200 SMA(Blue) and 50 EMA(Green) ? Hope not. But I sure don't see enough momentum to break above this area. Unless Bush announces he can actually make oil appear out of thin air !!! What a ...

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

Packed them in....because I LOVE profit and HATE giving it back.

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

Looks like a start of a selloff to me. Unable to close above 210.30 area is a telltale sign.

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

Thank you Malcolmb. If the 1HR 50EMA holds I am thinking to hold overnight into Wednesday for interest. But not too sure....

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

Alright my friend. Take a look at my new favorite GBP/CHF. What do you think? 50% retrace from the bottom or continue up? Holding longs from 2.0130-2.0150

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