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

  • #14,301
  • Aug 23, 2007 11:41am Aug 23, 2007 11:41am
Quoting auslanco
It's a good idea if you guys do not load any more longs at this level. 30min SI is crossing the 50 line.. which could result in another 100 pip dip before it turns up.
Yeah it looks like a good short setup for 50-100 pips
Craazy
  • #14,302
  • Aug 23, 2007 11:42am Aug 23, 2007 11:42am
U.S. files fraud charges against Sentinel

http://news.yahoo.com/s/nm/20070820/...ankruptcy_dc_3

Yea, my government does something right. Of course, it won't help the investors get a penny back.

Amazing how quickly the government moves when they are trying to restore confidence. It took years to go after the Enron guys.
  • #14,303
  • Aug 23, 2007 11:42am Aug 23, 2007 11:42am
Will buy on a dip at 231.30 (Fibo confluence of double 38.2 levels of downward wave (19 July-16 August) and upward move (19 August-22 August)
  • #14,304
  • Aug 23, 2007 11:42am Aug 23, 2007 11:42am
Hey Markam,

I know what you mean, but I thinking Bank of America save there butt with $2 billion investment. Am I missing something?

Now, I am aware more mortgages in US are due for a reset, meaning that low interest that was fix is now will be market interest which will cause more defaults in coming months. Especially with refinancing harder than ever.


Quoting markam
For you non-americans. The countrywide situation is a big deal. If it goes down, it will have serious consequences to the banking industry, the stock market, and the economy.
  • #14,305
  • Aug 23, 2007 11:44am Aug 23, 2007 11:44am
Quoting craazy
Yeah it looks like a good short setup for 50-100 pips

If my 5min cross down I will go for a short scalp
  • #14,306
  • Aug 23, 2007 11:45am Aug 23, 2007 11:45am
Quoting auslanco
If my 5min cross down I will go for a short scalp
Let me know... also, shooting you a quick PM here in a sec
Craazy
  • #14,307
  • Aug 23, 2007 11:47am Aug 23, 2007 11:47am
Quoting Majd
Will buy on a dip at 231.30 (Fibo confluence of double 38.2 levels of downward wave (19 July-16 August) and upward move (19 August-22 August)
I don't know whether it will go that low. 231.50 looks fairly strong.
  • #14,308
  • Aug 23, 2007 11:51am Aug 23, 2007 11:51am
Quoting Zoran
I don't know whether it will go that low. 231.50 looks fairly strong.
Good point taking into consideration that the major downtrend wave 38.2 Fibo comes first but it is showing @ 231.41 on my chart!
  • #14,309
  • Aug 23, 2007 11:52am Aug 23, 2007 11:52am
Quoting newjersey24
Hey Markam,

I know what you mean, but I thinking Bank of America save there butt with $2 billion investment. Am I missing something?

Now, I am aware more mortgages in US are due for a reset, meaning that low interest that was fix is now will be market interest which will cause more defaults in coming months. Especially with refinancing harder than ever.
They tapped their entire 11 billion line of credit all at once last week. 2 billion will do nothing. I don't know what BOA is thinking.
  • #14,310
  • Aug 23, 2007 11:52am Aug 23, 2007 11:52am
Does anybody have VT up and running yet?
  • #14,311
  • Aug 23, 2007 11:54am Aug 23, 2007 11:54am
Quoting Zoran
I don't know whether it will go that low. 231.50 looks fairly strong.
Where do you have 231.50 ? I have a daily 38.2 fib but at 231.45, you just rounded that up or do you have 231.50 from somewhere else?
  • #14,312
  • Aug 23, 2007 11:54am Aug 23, 2007 11:54am
Quoting Majd
Good point taking into consideration that the major downtrend wave 38.2 Fibo comes first but it is showing @ 231.41 on my chart!
I have support at just above 231.50
  • #14,313
  • Aug 23, 2007 11:56am Aug 23, 2007 11:56am
if 231.74 (50fib) doesnt hold, where will price fall to in the short term?
  • #14,314
  • Aug 23, 2007 11:57am Aug 23, 2007 11:57am
Quoting ovidiu
Where do you have 231.50 ? I have a daily 38.2 fib but at 231.45, you just rounded that up or do you have 231.50 from somewhere else?
My target also 231.50.. start of the breakout out 1hr bar.. This will retrace to that level. After that it could turn up.. or go further down .
  • #14,315
  • Aug 23, 2007 11:59am Aug 23, 2007 11:59am
Quoting auslanco
My target also 231.50.. start of the breakout out 1hr bar.. This will retrace to that level. After that it could turn up.. or go further down .
Yes, that left shoulder that was previous resistance (during Asian session) will now turn into support. I have it at 231.55
  • #14,316
  • Aug 23, 2007 12:01pm Aug 23, 2007 12:01pm
Hourly candle couldn't close below the fib levels
Trade what you see, not what you think.
  • #14,317
  • Aug 23, 2007 12:01pm Aug 23, 2007 12:01pm
How would you determine which direction to enter using the fibos?
Money for nothin' and pips for free!
  • #14,318
  • Aug 23, 2007 12:03pm Aug 23, 2007 12:03pm
Quoting auslanco
My target also 231.50.. start of the breakout out 1hr bar.. This will retrace to that level. After that it could turn up.. or go further down .
Did you go short based on the 30 min cross down 50 line?
  • #14,319
  • Aug 23, 2007 12:03pm Aug 23, 2007 12:03pm
Quoting auslanco
My target also 231.50.. start of the breakout out 1hr bar.. This will retrace to that level. After that it could turn up.. or go further down .
hi aus
you think how far price can down 231.50 will broke?????
thanks
  • #14,320
  • Aug 23, 2007 12:04pm Aug 23, 2007 12:04pm
30 min QQE crossed 50 line.. Hmmm... another 100 pips down , atleast.
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