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

  • #19,321
  • Aug 30, 2007 10:49pm Aug 30, 2007 10:49pm
Quoting AndyPass
I think this might retrace back down to about 23410 to collect some more buyers.

On my chart the 2hr qqe could cross upwards shortly.
Looks like people are buying at just about any price right now! Good sign!
  • #19,322
  • Aug 30, 2007 10:52pm Aug 30, 2007 10:52pm
I hope this thing doesn't pull back to the 5sma this time, i hate watching rockets fall.
"Only when the tide goes out will we know who is swimming naked."
  • #19,323
  • Aug 30, 2007 10:56pm Aug 30, 2007 10:56pm
Quoting pipped oFF
I hope this thing doesn't pull back to the 5sma this time, i hate watching rockets fall.
LOL. Luckily it's pulling the SMA's up with it . . .

Ron
  • #19,324
  • Aug 30, 2007 10:56pm Aug 30, 2007 10:56pm
Quoting pipped oFF
I hope this thing doesn't pull back to the 5sma this time, i hate watching rockets fall.
Rockets don't fall, they just come down to pick up more friends for the ride
  • #19,325
  • Aug 30, 2007 10:57pm Aug 30, 2007 10:57pm
Quoting pipped oFF
I hope this thing doesn't pull back to the 5sma this time, i hate watching rockets fall.

This time it is armed with missile, would reach further range before exhaustion .. hope so http://www.forexfactory.com/images/icons/icon10.gif
  • #19,326
  • Aug 30, 2007 10:58pm Aug 30, 2007 10:58pm
Quoting Pips_Cruiser
Looks like people are buying at just about any price right now! Good sign!
I agree. I think I was being optimistic in having it retrace so low as to get another lot in. Maybe it'll go to the 15min 5sma and then continue back upwards.
  • #19,327
  • Aug 30, 2007 10:59pm Aug 30, 2007 10:59pm
Nikkei is up 247+
  • #19,328
  • Aug 30, 2007 11:02pm Aug 30, 2007 11:02pm
Quoting AndyPass
I agree. I think I was being optimistic in having it retrace so low as to get another lot in. Maybe it'll go to the 15min 5sma and then continue back upwards.
I'm with you. A little retrace might be a good thing now.
  • #19,329
  • Aug 30, 2007 11:03pm Aug 30, 2007 11:03pm
23.6 @ 234.25 and 38.2 @ 234.04
  • #19,330
  • Aug 30, 2007 11:05pm Aug 30, 2007 11:05pm
Hi M2B,

My mom on 15m, 30 and H4 are pointing downwards. I'm still not sure which retrace it will go to. Is it the TF with the sharpest angle? I remember Aus mentioning something about if the 15m cross down then it will retrace to H4. Sorry if this has been answered, reading as many momentum posts as i can find but can't find this one.

Cheers
  • #19,331
  • Aug 30, 2007 11:06pm Aug 30, 2007 11:06pm
Quoting auslanco
soon bro.. I will let you know in advance Lets catch up for a drink at the Rocks.

Leave it to me where i take u for drinks !
  • #19,332
  • Aug 30, 2007 11:06pm Aug 30, 2007 11:06pm
Quoting lepiricus
Rockets don't fall, they just come down to pick up more friends for the ride
In the TSR trading system, they called it "Take My Hand situation". Yeah, take my hand and go with the ride.
  • #19,333
  • Aug 30, 2007 11:07pm Aug 30, 2007 11:07pm
I've been thinking about this plan that bush and the feds are dreaming up. Obviously they are carefully rolling it out try and maximize the short term impact on stock and currency markets. My guess is that it will work and we will see a big rally tomorrow. But lets think about what they can actually do.

As best I can tell, they are looking at the following items.

Utilize FHA to allow distressed homeowners to refinance mortgages that they otherwise could not get out of. This might help the people that have high interest ARMs that they can't get out of because of credit problems, and who are living in houses that they could pay for at a lower interest rates. Unfortunately, that is a very small fraction of the people in trouble. Most of the people in trouble owe substantially more than the current value of the house. They will not be able to get a loan to pay of their current loan. Then there is the second problem. Even if the government loans them more than the current value of their home, they couldn't pay even the principle back on the loan. They have only kept their houses up to now because prices have been increasing 10% a year and they have pulled cash out every year.

The second item is tax forgiveness for short sales, and forclosures. That is a great idea, for Joe Citizen. Right now, even if he declares bankruptcy and turns over the keys to his house to the bank, he gets hit with a big tax bill for whatever loss the bank has on his loan. With tax relief, it becomes a lot, lot easier for people to just walk away from their house. That is bad for home prices, bad for banks and bad for government revenues. Therefore, this provision absolutely will not happen.

The third item is talking about developing new loan programs. The goal is obviously to try and keep home prices up. What they will be looking at are things like 50 year loans, and loans where a portion of the principal is not paid back until the house is sold and where the bank takes a portion of the appreciation at the end of the loan. These ideas only work if home prices keep appreciating at rates well above the inflation rate. In other words, they can't work.

Sorry about the long rant, but it is obvious to me that they cannot fix this problem. It all goes back to my arguement that our economy only works as long as the supply of money increases exponentially. In the case of housing, our current system only works if home prices always increase faster than the rate of inflation. We have only had one year where home prices havent increased, and you can see that our home lending/banking system is already falling apart. One more year, and it will have basically collapsed.
  • #19,334
  • Aug 30, 2007 11:11pm Aug 30, 2007 11:11pm
Quoting auslanco
Bro, there has to be three arrows(green arrow,blue arrow and a blue dot) ,, can you send me a screen shot to see whether you got the correct set up.
The mt4 indicator that bruce did only gives signle arrows, the blue up arrows and the purple down arrow.
  • #19,335
  • Aug 30, 2007 11:12pm Aug 30, 2007 11:12pm
If 23.6 id broken, confluence of trend line, 38.2 of 5 Min and previous resistance @ 234.04, good potential retracement point

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  • #19,336
  • Aug 30, 2007 11:13pm Aug 30, 2007 11:13pm
Quoting markam
I've been thinking about this plan that bush and the feds are dreaming up. Obviously they are carefully rolling it out try and maximize the short term impact on stock and currency markets. My guess is that it will work and we will see a big rally tomorrow. But lets think about what they can actually do.

<cut>
.

Markam .. please don't post any more. Once you post .. all the rockets fall http://www.forexfactory.com/images/icons/icon10.gif
  • #19,337
  • Aug 30, 2007 11:15pm Aug 30, 2007 11:15pm
Quoting mktjong
Markam .. please don't post any more. Once you post .. all the rockets fall http://www.forexfactory.com/images/icons/icon10.gif
They better not, I'm long.
  • #19,338
  • Aug 30, 2007 11:15pm Aug 30, 2007 11:15pm
Quoting mktjong
Markam .. please don't post any more. Once you post .. all the rockets fall http://www.forexfactory.com/images/icons/icon10.gif
  • #19,339
  • Aug 30, 2007 11:15pm Aug 30, 2007 11:15pm
Quoting markam
I've been thinking about this plan that bush and the feds are dreaming up. Obviously they are carefully rolling it out try and maximize the short term impact on stock and currency markets. My guess is that it will work and we will see a big rally tomorrow. But lets think about what they can actually do.

As best I can tell, they are looking at the following items.

Utilize FHA to allow distressed homeowners to refinance mortgages that they otherwise could not get out of. This might help the people that have high interest ARMs that they can't get out of because of credit problems, and who are living in houses that they could pay for at a lower interest rates. Unfortunately, that is a very small fraction of the people in trouble. Most of the people in trouble owe substantially more than the current value of the house. They will not be able to get a loan to pay of their current loan. Then there is the second problem. Even if the government loans them more than the current value of their home, they couldn't pay even the principle back on the loan. They have only kept their houses up to now because prices have been increasing 10% a year and they have pulled cash out every year.

The second item is tax forgiveness for short sales, and forclosures. That is a great idea, for Joe Citizen. Right now, even if he declares bankruptcy and turns over the keys to his house to the bank, he gets hit with a big tax bill for whatever loss the bank has on his loan. With tax relief, it becomes a lot, lot easier for people to just walk away from their house. That is bad for home prices, bad for banks and bad for government revenues. Therefore, this provision absolutely will not happen.

The third item is talking about developing new loan programs. The goal is obviously to try and keep home prices up. What they will be looking at are things like 50 year loans, and loans where a portion of the principal is not paid back until the house is sold and where the bank takes a portion of the appreciation at the end of the loan. These ideas only work if home prices keep appreciating at rates well above the inflation rate. In other words, they can't work.

Sorry about the long rant, but it is obvious to me that they cannot fix this problem. It all goes back to my arguement that our economy only works as long as the supply of money increases exponentially. In the case of housing, our current system only works if home prices always increase faster than the rate of inflation. We have only had one year where home prices havent increased, and you can see that our home lending/banking system is already falling apart. One more year, and it will have basically collapsed.
Man you seem to have all the answers when the bulls come out. Geez calm down and hope for the best for our econonomy. U CAN MAKE MONEY IN A GOOD ECONOMY. LOL
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #19,340
  • Aug 30, 2007 11:16pm Aug 30, 2007 11:16pm
Quoting lepiricus
Rockets don't fall, they just come down to pick up more friends for the ride
Anybody who isn't long yet might want to consider grabbing a seat on this baby. We might not see prices this low again for awhile.

1 hour 5SMA is 233.95 and rising. It should give strong support. QQE indicators are still bullish. The new 4 hour candle is forming well above the Gann HiLo and the 4H 5SMA.

We should be heading into the distant atmosphere very shortly. Price might not even make it down to 1H 5SMA first.

Ron
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