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

  • #5,561
  • Aug 9, 2007 6:49am Aug 9, 2007 6:49am
Quoting karmostaji
correct Mr. T
Thanks for your guidance karmostaji.
New Forex Trader
  • #5,562
  • Aug 9, 2007 6:49am Aug 9, 2007 6:49am
Quoting digitizer123
I just remembered your post from hours back with this photo???
Unfortunately, I was asleep during the last drop off the mesa. I am trying to figure out how to get back in.
  • #5,563
  • Aug 9, 2007 6:49am Aug 9, 2007 6:49am
I guess GJ forgot it was correlated with the DOW...
  • #5,564
  • Aug 9, 2007 6:50am Aug 9, 2007 6:50am
I might enter short @ 5SMA 1H
Trade what you see, not what you think.
  • #5,565
  • Aug 9, 2007 6:52am Aug 9, 2007 6:52am
Quoting lawrh
I guess GJ forgot it was correlated with the DOW...

Actually, the dow is retracing some upwards right now. I would assume that they will turn down again together.
  • #5,566
  • Aug 9, 2007 6:53am Aug 9, 2007 6:53am
Quoting karmostaji
I might enter short @ 5SMA 1H
Karmo,

Please make sure you check the 15m Momentum, first.

According to Auslanco: .. if the 15min SI cross upwards during the retracement .. dont go short.
(Don't know why, but just want to help.)
  • #5,567
  • Aug 9, 2007 6:54am Aug 9, 2007 6:54am
Quoting trader8686
Karmo,

Please make sure you check the 15m Momentum, first.
I know, I'm watching like a falcon
Trade what you see, not what you think.
  • #5,568
  • Aug 9, 2007 6:54am Aug 9, 2007 6:54am
Quoting karmostaji
I might enter short @ 5SMA 1H
or about 240.30 at the 38.2 fib...RIGHT???
  • #5,569
  • Aug 9, 2007 6:54am Aug 9, 2007 6:54am
First time during the brutal decline of the last hours the 15m. Trend has changed from Down to UP.

A.D.
  • #5,570
  • Aug 9, 2007 6:55am Aug 9, 2007 6:55am
Quoting markam
Unfortunately, I was asleep during the last drop off the mesa. I am trying to figure out how to get back in.
Me too - on and off - I wish I had gone short at the beginning of it when London opened.....
  • #5,571
  • Aug 9, 2007 6:56am Aug 9, 2007 6:56am
Quoting karmostaji
I might enter short @ 5SMA 1H
The 5 min QQE has crossed up, the 30 min QQE starting to turn, the 1h QQE flat lining, dose this not wary you to go short at 5sma 1h?
  • #5,572
  • Aug 9, 2007 6:57am Aug 9, 2007 6:57am
Quoting amsterdanny
First time during the brutal decline of the last hours the 15m. Trend has changed from Down to UP.

A.D.
That's the retracement, not trend change.
  • #5,573
  • Aug 9, 2007 6:58am Aug 9, 2007 6:58am
Quoting kevinsw
or about 240.30 at the 38.2 fib...RIGHT???
Can't find the run you're using that produces a 38.2 Fib at that level. Could you post a chart or at least give the beginning and end numbers of the run?

M2B
  • #5,574
  • Aug 9, 2007 6:59am Aug 9, 2007 6:59am
DOW is down 184 points!! 1.35%
  • #5,575
  • Aug 9, 2007 7:01am Aug 9, 2007 7:01am
The 1-hour 5sma is now 240.05. We are right on that level now.
  • #5,576
  • Aug 9, 2007 7:03am Aug 9, 2007 7:03am
Quoting khmr
sorry I'm kinda behind but what was the bad news that triggered this reversal?
This is what caused the sell off...

ECB Offers Unlimited Cash as Bank Lending Costs Soar (Update2)
By Gavin Finch and Steve Rothwell
Aug. 9 (Bloomberg) -- The European Central Bank, in an unprecedented response to a sudden demand for cash from banks roiled by the subprime mortgage collapse in the U.S., loaned 94.8 billion euros ($130.2 billion) to assuage a credit crunch.
The overnight lending rates banks charge each other jumped to the highest in six years. The so-called London interbank offered rate in dollars rose to 5.86 percent today from 5.35 percent and in euros gained to 4.31 percent from 4.11 percent. Three-month dollar Libor rose to 5.5 percent from 5.38 percent.
Trading Levels with WRBs
  • #5,577
  • Aug 9, 2007 7:03am Aug 9, 2007 7:03am
Quoting markam
The 1-hour 5sma is now 240.05. We are right on that level now.
The 15m SI is cross up (becareful)
  • #5,578
  • Aug 9, 2007 7:03am Aug 9, 2007 7:03am
Quoting my2buoys
Can't find the run you're using that produces a 38.2 Fib at that level. Could you post a chart or at least give the beginning and end numbers of the run?

M2B
Sure but don't you even Think about laughing at me..lol
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  • #5,579
  • Aug 9, 2007 7:05am Aug 9, 2007 7:05am
Quoting amsterdanny
First time during the brutal decline of the last hours the 15m. Trend has changed from Down to UP.

A.D.

strong retracement
  • #5,580
  • Aug 9, 2007 7:05am Aug 9, 2007 7:05am
Quoting karmostaji
I know, I'm watching like a falcon
Maybe, when 15m SI cross up, don't short - meaning retrace to 4h 5 sam?
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