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

  • #7,441
  • Aug 14, 2007 12:33pm Aug 14, 2007 12:33pm
Quoting markam
volume has picked up in market trading, and the dow is sitting right above 13,100. We may see another attempt on 13,000 before close of market. The next area of resistance looks to be around 12,800, which would give a ~250 pip drop in GJ.

Not saying it will happen, just that it is a possibility.
Thanks, mark, was wondering if you were missing.
  • #7,442
  • Aug 14, 2007 12:33pm Aug 14, 2007 12:33pm
Quoting kevinsw
Well I got +10 locked in, I might place a 65 pip T/S just to let it lock in more while I sleep then open it up when I wake up if it is still a working trade.
LOL we were typing at the same time I guess
  • #7,443
  • Aug 14, 2007 12:35pm Aug 14, 2007 12:35pm
DOW might go for another round at the low of today around 13,058
Trade what you see, not what you think.
  • #7,444
  • Aug 14, 2007 12:36pm Aug 14, 2007 12:36pm
Quoting karmostaji
DOW might go for another round at the low of today around 13,058
Well tell it to hurry up...I hate sleeping through all the good stuff..lol
  • #7,445
  • Aug 14, 2007 12:37pm Aug 14, 2007 12:37pm
Quoting Richardj
Mmmm.... I personally find it very difficult to set the TP levels in a situation like this, when it is so obvious that there is SO MUCH further down to go, overall - in fact, we're only just starting now, in my view.

What percentage of your short are you planning to take at your two profit targets, Karm? I assume you're going to retain some short after both>?
I have several short positions open, some are TP'ed @ 233.40 and some others TP'ed @ 232.50

will have to watch price at those levels and see what happens
Trade what you see, not what you think.
  • #7,446
  • Aug 14, 2007 12:38pm Aug 14, 2007 12:38pm
Quoting karmostaji
DOW might go for another round at the low of today around 13,058
It has actually turned up now. Hopefully it will make a run for the opening level. It won't stay up very long.
  • #7,447
  • Aug 14, 2007 12:39pm Aug 14, 2007 12:39pm
Quoting kevinsw
Well tell it to hurry up...I hate sleeping through all the good stuff..lol
It usually goes nuts at the end of the session lol
Trade what you see, not what you think.
  • #7,448
  • Aug 14, 2007 12:40pm Aug 14, 2007 12:40pm
Quoting karmostaji
I have several short positions open, some are TP'ed @ 233.40 and some others TP'ed @ 232.50

will have to watch price at those levels and see what happens
No, what I meant was - what % of your current total short are you intending to retain after you have met both of those TP's? I assume you will retain some short?
  • #7,449
  • Aug 14, 2007 12:42pm Aug 14, 2007 12:42pm
It can't go far below weekly support 235.84. But I believe with 4H crossed, bad fundamental for GBP, DOW going down it will soon cross the barrier.
  • #7,450
  • Aug 14, 2007 12:44pm Aug 14, 2007 12:44pm
Quoting karmostaji
It usually goes nuts at the end of the session lol
Yep. Check out the volume spikes at the end of the last 4 days.

http://farm2.static.flickr.com/1352/...fae30c9561.jpg
  • #7,451
  • Aug 14, 2007 12:50pm Aug 14, 2007 12:50pm
Quoting sunarto.sun
It can't go far below weekly support 235.84. But I believe with 4H crossed, bad fundamental for GBP, DOW going down it will soon cross the barrier.

Wooo hoooo already crossed 235.84. 2nd barrier to go on 235.38 monthly support pivot line. If it is break also then nothing can stop this beast going further down.
  • #7,452
  • Aug 14, 2007 12:54pm Aug 14, 2007 12:54pm
I'm lowering my 1st GU TP (spot, from 2.0380) from 1.9860 to 1.9765.

However, increasingly, to me, it does look that GU will go a lot, lot lower than that.
  • #7,453
  • Aug 14, 2007 12:54pm Aug 14, 2007 12:54pm
Quoting sunarto.sun
Wooo hoooo already crossed 235.84. 2nd barrier to go on 235.38 monthly support pivot line. If it is break also then nothing can stop this beast going further down.
Keep talking man please .... everything you say just happens seconds after your post
  • #7,454
  • Aug 14, 2007 12:55pm Aug 14, 2007 12:55pm
Quoting markam
volume has picked up in market trading, and the dow is sitting right above 13,100. We may see another attempt on 13,000 before close of market. The next area of resistance looks to be around 12,800, which would give a ~250 pip drop in GJ.

Not saying it will happen, just that it is a possibility.
I agree with you. Lately the last hour of trading has not been good for the DOW so a test of 13,000 is very possible.
  • #7,455
  • Aug 14, 2007 12:56pm Aug 14, 2007 12:56pm
FIRST 100 AFTER RETRACEMENT

  • #7,456
  • Aug 14, 2007 12:57pm Aug 14, 2007 12:57pm
I hope you guys didn't miss the train and are making and will make some great pips & profit
Trade what you see, not what you think.
  • #7,457
  • Aug 14, 2007 12:57pm Aug 14, 2007 12:57pm
Quoting sunarto.sun
Wooo hoooo already crossed 235.84. 2nd barrier to go on 235.38 monthly support pivot line. If it is break also then nothing can stop this beast going further down.
Yep n imagine the DOW would close under 13000...
  • #7,458
  • Aug 14, 2007 12:57pm Aug 14, 2007 12:57pm
And the GU has finally broken lows of the session and support of 1.9977
  • #7,459
  • Aug 14, 2007 12:58pm Aug 14, 2007 12:58pm
Looks like the dow isn't going to break down.
  • #7,460
  • Aug 14, 2007 12:58pm Aug 14, 2007 12:58pm
I've got a potential temporary support at 233.97 on daily charts
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