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

  • #17,061
  • Aug 28, 2007 11:13am Aug 28, 2007 11:13am
Quoting mjolimer
I agree with Markem on the short to retest the low. I've taken it. Safe bet i think.. after it has retested.. who knows.. day bull so is this August going to be like many others and just a good month for the yen.. come back in september..
?
I'd prefer to see it breach 230.10 first . . .
  • #17,062
  • Aug 28, 2007 11:15am Aug 28, 2007 11:15am
Quoting quickpips
My other favorite was the Fed sees the subprime market having a negative effect on the market. Good job!!
Our seers in action!
  • #17,063
  • Aug 28, 2007 11:15am Aug 28, 2007 11:15am
Quoting markam
All it would do is give a short-term boost to the stock market, and that is the stupidist reason in the world to cut rates.
A strong stock market tends to block the sight of the real problems. Greenspan has done it before Big Ben.
  • #17,064
  • Aug 28, 2007 11:16am Aug 28, 2007 11:16am
new intraday low for the dow. I expect we will threaten 13100 by the end of the day, if not break it.

GJ is lagging the dow so far. It needs to drop more.
  • #17,065
  • Aug 28, 2007 11:21am Aug 28, 2007 11:21am
It looks like the technicals are putting a drag on GJ. It should be at a new low for the day.
  • #17,066
  • Aug 28, 2007 11:23am Aug 28, 2007 11:23am
Yeh , the way DOW is dropping should bring GJ way more deeper than it is right now
COT: The precious data ignored
  • #17,067
  • Aug 28, 2007 11:24am Aug 28, 2007 11:24am
But i'll wait a close below 13155 for the DOW before taking position
COT: The precious data ignored
  • #17,068
  • Aug 28, 2007 11:25am Aug 28, 2007 11:25am
Quoting quickpips
My other favorite was the Fed sees the subprime market having a negative effect on the market. Good job!!
LOL! You need a phd in economics to make that assessment I guess.
  • #17,069
  • Aug 28, 2007 11:27am Aug 28, 2007 11:27am
Markam,as i can see on the daily DOW,all indicates south,accept the momentum,so could we see levels below 13.000?How do you thing?
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  • #17,070
  • Aug 28, 2007 11:38am Aug 28, 2007 11:38am
Case-Shiller home price index felll 3.2 in Q2, the biggest decline in its 20-year history.

(Don't know if this was posted before).
  • #17,071
  • Aug 28, 2007 11:39am Aug 28, 2007 11:39am
Quoting I.Y.I
Markam,as i can see on the daily DOW,all indicates south,accept the momentum,so could we see levels below 13.000?How do you thing?
I doubt we will go below 13000 today. I am betting below 13000 before the end of the week (maybe well below).
  • #17,072
  • Aug 28, 2007 11:40am Aug 28, 2007 11:40am
Down!
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  • #17,073
  • Aug 28, 2007 11:42am Aug 28, 2007 11:42am
Quoting Pips_Cruiser
Down!
I would take 229.77 in the next hour and 15 minutes
  • #17,074
  • Aug 28, 2007 11:44am Aug 28, 2007 11:44am
It should go to 229.33, let's see if this holds or not
Trade what you see, not what you think.
  • #17,075
  • Aug 28, 2007 11:44am Aug 28, 2007 11:44am
so far the 229.78 seems to be a pretty good support for GBP/JPY. The overall downtrend, however, might push the pair to 226.63 - 23.6% fib level (June high - August low).

Good luck
  • #17,076
  • Aug 28, 2007 11:46am Aug 28, 2007 11:46am
Quoting karmostaji
It should go to 229.33, let's see if this holds or not
Were you praying last night?? . . . didn't see you trading.
  • #17,077
  • Aug 28, 2007 11:46am Aug 28, 2007 11:46am
Quoting jay9170
real quick while its quiet in here, when looking for retracements, what are we looking for in the momentum indicator? Is this what we use to determine retracements? I noticed aus mentioned 4 hour retracement to 5sma a little earlier, what was he looking at for indication of such?

Thanks for your help.
It's hard to tell exactly how far it will retrace. I think Auslanco takes a lot of things into consideration.. time of day, momemtum supporting the move down etc.

From that point on i think it is more art than science.. confidence bred on experience of seeing the same situations time after time..

Maybe someone else can help better.. i just look at the varous 5 sma's as the price retraces.. then if i see a particular resistance being tested a couple of times.. i look for a breakout on 5minute scale .. breakout retrace and new lows.. / highs for entry.. ABC pattern in short time frame..

I hope this helps.. others may have better techniques.. but hey.. this works for me..
  • #17,078
  • Aug 28, 2007 11:47am Aug 28, 2007 11:47am
Quoting karmostaji
It should go to 229.33, let's see if this holds or not
Karm...are you hedging your longs or did you close them?
  • #17,079
  • Aug 28, 2007 11:48am Aug 28, 2007 11:48am
nice one mate.

small win but still sweet..



opps MarkAm.. oh well you know who i mean
  • #17,080
  • Aug 28, 2007 11:49am Aug 28, 2007 11:49am
Quoting karmostaji
It should go to 229.33, let's see if this holds or not
Now U are talking.
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