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

  • #17,101
  • Aug 28, 2007 2:23pm Aug 28, 2007 2:23pm
Quoting markam
and will basically put an end to currency trading.
oh no...... I hope not
  • #17,102
  • Aug 28, 2007 2:25pm Aug 28, 2007 2:25pm
Dow dropped below -200
  • #17,103
  • Aug 28, 2007 2:25pm Aug 28, 2007 2:25pm
Quoting markam
The US dollar has historically been the safest currency in the world, and the one most likely to retain value. As a result, during turbulent times, people have moved their assets into dollars and dollar-denominated securities (such as treasury bonds).

This characteristic is still in effect to a degree, hence the strenghtening of the dollar over the last few weeks. However, the federal government has let our financial house get so out of order that the days of the dollar being the safe currency are almost over. Peak oil, the ongoing economic collapse, and the exponential growth of world currencies are going to hit the dollar even more than other currencies, and I believe the dollar is going to drop a lot very soon (within the next year).

Of course, I also believe that we are going to see the end of the 35 year world experiment in fiat currencies, and we are going to see a merger in currencies and a return to currencies backed by something (almost certainly gold). This will probably occur in the next 5-10 years, and will basically put an end to currency trading.
I dont see the later of your comments occuring, I mean didn't it take alot of work just to get all the euro countries to get together? Also theres not even enough gold to back up all of currency in circulation now, so I dont see that happening either...but I do believe theres a cycle for everything and the dollar had to have its down sooner or later
  • #17,104
  • Aug 28, 2007 2:25pm Aug 28, 2007 2:25pm
I have never seen a day where the dow dropped so steadily, yet with such low volatility. It is almost like an orderly exit from the market, which does not happen.
  • #17,105
  • Aug 28, 2007 2:27pm Aug 28, 2007 2:27pm
Quoting markam
The US dollar has historically been the safest currency in the world, and the one most likely to retain value. As a result, during turbulent times, people have moved their assets into dollars and dollar-denominated securities (such as treasury bonds).

This characteristic is still in effect to a degree, hence the strenghtening of the dollar over the last few weeks. However, the federal government has let our financial house get so out of order that the days of the dollar being the safe currency are almost over. Peak oil, the ongoing economic collapse, and the exponential growth of world currencies are going to hit the dollar even more than other currencies, and I believe the dollar is going to drop a lot very soon (within the next year).

Of course, I also believe that we are going to see the end of the 35 year world experiment in fiat currencies, and we are going to see a merger in currencies and a return to currencies backed by something (almost certainly gold). This will probably occur in the next 5-10 years, and will basically put an end to currency trading.

We dont care though because we will all have made another few million by then and hey you can only spend it so fast..

Another year another million..
  • #17,106
  • Aug 28, 2007 2:28pm Aug 28, 2007 2:28pm
I said 13,100 on the dow before the market opened and we have almost hit it. I wish I could call GJ targets as well as that
  • #17,107
  • Aug 28, 2007 2:29pm Aug 28, 2007 2:29pm
if anyone was long, they were wrong - on the dow anyway. european indices are gonna take a battering tomorrow.
  • #17,108
  • Aug 28, 2007 2:31pm Aug 28, 2007 2:31pm
i believe that 226.99 support will be tested this week
  • #17,109
  • Aug 28, 2007 2:31pm Aug 28, 2007 2:31pm
Quoting karmostaji
no, is this a new broker?? Interesting..
yes I just find out about it today from internet.
  • #17,110
  • Aug 28, 2007 2:32pm Aug 28, 2007 2:32pm
Quoting markam
The US dollar has historically been the safest currency in the world, and the one most likely to retain value. As a result, during turbulent times, people have moved their assets into dollars and dollar-denominated securities (such as treasury bonds).

This characteristic is still in effect to a degree, hence the strenghtening of the dollar over the last few weeks. However, the federal government has let our financial house get so out of order that the days of the dollar being the safe currency are almost over. Peak oil, the ongoing economic collapse, and the exponential growth of world currencies are going to hit the dollar even more than other currencies, and I believe the dollar is going to drop a lot very soon (within the next year).

Of course, I also believe that we are going to see the end of the 35 year world experiment in fiat currencies, and we are going to see a merger in currencies and a return to currencies backed by something (almost certainly gold). This will probably occur in the next 5-10 years, and will basically put an end to currency trading.

I am assuming you are writing this in response to my post. Thank you. So. you mean this dollar strengthening is a temporary phenomenon and Euro should shoot back up. But before that, how low you think Euro could go, based on your analysis.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #17,111
  • Aug 28, 2007 2:32pm Aug 28, 2007 2:32pm
Quoting khmr
I dont see the later of your comments occuring, I mean didn't it take alot of work just to get all the euro countries to get together? Also theres not even enough gold to back up all of currency in circulation now, so I dont see that happening either...but I do believe theres a cycle for everything and the dollar had to have its down sooner or later

There is plenty of gold, it just won't be $650/ounce, it will be $6500/ounce. I don't predict the return of gold coins in circulation (though that would be cool). We are more likely to have essentially an electronic currency, but backed by actual gold reserves stored by the government, and by you in your bank.

The only reason it wouldn't happen is that it destroys big government, and big government will destroy the world before they give up their power over the people.
  • #17,112
  • Aug 28, 2007 2:32pm Aug 28, 2007 2:32pm
Well I couldn't take it any longer. I lost 100 pips this morning, but I just gained that back plus 80 pips this afternoon so I closed it out and taking my first major profit and will wait for tomorrow for more input from all you experienced traders.

Thanks for helping the little guy.

Spent1
  • #17,113
  • Aug 28, 2007 2:34pm Aug 28, 2007 2:34pm
dow broke 13,100, there may not be a bottom before 4 pm.
  • #17,114
  • Aug 28, 2007 2:37pm Aug 28, 2007 2:37pm
could this thing even retrace with this kind of dow day?
  • #17,115
  • Aug 28, 2007 2:38pm Aug 28, 2007 2:38pm
I'm still waiting the retracement , but if i enter short now it'll retrace
COT: The precious data ignored
  • #17,116
  • Aug 28, 2007 2:38pm Aug 28, 2007 2:38pm
Quoting TradeStar
I am assuming you are writing this in response to my post. Thank you. So. you mean this dollar strengthening is a temporary phenomenon and Euro should shoot back up. But before that, how low you think Euro could go, based on your analysis.
I don't have a clue. If this economic crisis is a big as I think it is, you could easily see EU below 1.25, just because of typical market reactions. You could also see EU above 2 this time next year.
  • #17,117
  • Aug 28, 2007 2:39pm Aug 28, 2007 2:39pm
Quoting khmr
could this thing even retrace with this kind of dow day?
I am betting on a fairly large retrace starting as soon as the US markets close, and going until the asian markets open.
  • #17,118
  • Aug 28, 2007 2:40pm Aug 28, 2007 2:40pm
it already did the retracement....to the 1h 5sma...and now its breaking the support ( on its second try ).....lets wait for a confirmation on the 4h and i think it will bust through to the 226 level.
  • #17,119
  • Aug 28, 2007 2:41pm Aug 28, 2007 2:41pm
Quoting markam
I am betting on a fairly large retrace starting as soon as the US markets close, and going until the asian markets open.
Mark...I also meant to ask you, have you notice the dow seems to pick up or recover on Weds? or is that just me?
  • #17,120
  • Aug 28, 2007 2:43pm Aug 28, 2007 2:43pm
Quoting AWG
it already did the retracement....to the 1h 5sma...and now its breaking the support ( on its second try ).....lets wait for a confirmation on the 4h and i think it will bust through to the 226 level.
I believe it is breaking the support only because the dow is dragging it down. Once the market closes, it may shoot up.
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