Nice — Nice. I'm gunna stick my neck out today and keep adding GY longs. If we break support at 147.8, then I was wrong, but i'm willing to throw some money at this on a R/R basis.

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

More cynical than me. lol — Don't be so sure this Labour government won't get back in. John Major anyone? Likely scenario: Present government do everything they can to get positive GDP before May. UK out of recession before April, probably by ...

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

Cynical I know.... — There's an election next May, so it's imperitive that the UK is out of recession before then. Being realistic, it's touch and go whether UK GDP will turn positive before then, so if additional QE helps push things along, ...

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

Ready? — We're at a critical point I think. DPP and WPP sit within a whisker of each other and price now hovering just above. We also have the Daily 5 sma too. If we break both lower there's a good chance we won't see them again for the rest ...

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

Yes but.... — All true, but remember to think like the big players. They and the whole World knows 153 looks the next stop, so what do you think they'll do? I'm long still btw and will add if we retrace lower. I actually think this could be ...

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

?? — Hmmm, I honestly don't know. I see confluence of previous supports there. Fibos aren't showing anything to speak of. Do I have to pay for the answer? EDIT: Just noticed 38% fibo from 139.7 - 153.2.

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

Funny you should ask that 'cos my chart shows reversal at S2. I assume it's purely down to broker Daily start times etc. image

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

Bookmarked for future p1ss taking.

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

lol. — Maybe, but we may go back to 250 first.

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

Hmmm — Forget fundamentals, the news headline for today is of much bigger importance; The US Is Out Of Recession

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

Fair enough.... — Fair enough, but that's nearly 200 pips away.

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

You're braver than me. Every dip today been bought, even before the news. Make no mistake, I got caught short too, but upmove looks sustainable to me. (In the short term anyway). EDIT: Took some profit on the long trade. Will look to re-enter ...

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

Hmmm — Why not a speculative long 'til 152 then? I cannot be bearish now. I do have some shorts which are now hedged. If first +ve US GDP in over a year does not weaken the Yen, there isn't much that will. Am long, with bells on.

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

lol — I think you answered your own question.

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

Struggling — Am struggling to get a handle on PA movements at the moment. What's confusing me is the massive volumes traded last Tuesday on GY, AY and EU. Look at this 4hr chart. Shows the huge increase in volume coinciding with a reasonably ...

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

yea yea — Just call me Mystic Daytrader.

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

lol — Bloody hell.

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

Closed longs — Closed all longs at 153.17. Very often, we see a pre-news move which is sustained afterwards. Not as if UK GDP will be good is it.......

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

Equities — To be fair, equities only took a beating yesterday just before the close. But, you are right in saying Yen would normally have strengthened more during such a fall. And funnily, equities still weak while Sterling and Aussie remain ...

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

Gunna get ugly — Not fighting this move, but under no illusions, we gunna tank hard soon enough. Massive volume on the 4 hour TF 2 days ago, looked very much like sellers and yesterday's rapid downmove at the close wiping out the day's gains ...

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