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

  • #19,821
  • Aug 31, 2007 8:04am Aug 31, 2007 8:04am
Quoting markam
I just found my signature

  • #19,822
  • Aug 31, 2007 8:04am Aug 31, 2007 8:04am
Quoting learningfx
if the dow goes up the gbp/jpy goes down??????
no
  • #19,823
  • Aug 31, 2007 8:05am Aug 31, 2007 8:05am
Reading a report from Thomson Financial that H&R Block is calling the current mortgage mess on a scale of The Great Depression and they may have to close their mortgage division if they can't sell it.

Good Morning!
  • #19,824
  • Aug 31, 2007 8:06am Aug 31, 2007 8:06am
Quoting Hakuna Matata
bullsh butterfly on 5 min

entry was at 234.50
s/l 13 pips --just below that red rectangle
( tght s/l-- coz news near--any more profits for day is bonus and wont give away to another fx pimp

t/p aiming for 50-70 pps minimum

i got out at 234.85

be careful guys--bernie and bushie are farting soon
expect some serious volatility --be careful of your broker spreads too

ill reeneter with the speech
  • #19,825
  • Aug 31, 2007 8:06am Aug 31, 2007 8:06am
Quoting VishalJ
It's 'phrases' and another term I see misspelled most often is 'Visa versa'.. it's not that.. it's 'vice versa' .. Visa is.. er.. the card company Sorry, I just like being anal when it's a really bullish day!

looooooooooool, dude i know, i do have a dictionary, we're on a forum here, i don't think anyone would really care why someone would have a spelling mistake, because people are just trying to type fast. plus, that's how i spell stuff on my sms, so i'm used to it

thanks for the disclaimer thought (hope i spelled that right!)
  • #19,826
  • Aug 31, 2007 8:06am Aug 31, 2007 8:06am
Karmo,

I've been looking over the charts and I can't find any reason for the 8GMT spike down. There was no bad news flash. It blew through all 5SMA levels and even blew through the bullish 4H trend line. It did find support at the 1H TFT but that to me is just coincidental. You could post 100 different lines on a chart until one lined up with price to prove support at any level. My point is, I read your earlier statement about it being a stop hunting expo and I think your are absolutely right. Nothing else makes sense. It's hard to figure those kinds of spikes in when placing a stop loss. Keep up the good work, my friend.

M2B
  • #19,827
  • Aug 31, 2007 8:07am Aug 31, 2007 8:07am
Quoting coolhand
Reading a report from Thomson Financial that H&R Block is calling the current mortgage mess on a scale of The Great Depression and they may have to close their mortgage division if they can't sell it.

Good Morning!
Yup.. but that came out yesterday so markets have already digested that. So far.. since the London session I haven't come across any typically earth shattering news.
  • #19,828
  • Aug 31, 2007 8:08am Aug 31, 2007 8:08am
Quoting Hakuna Matata
i got out at 234.85

be careful guys--bernie and bushie are farting soon
expect some serious volatility --be careful of your broker spreads too

ill reeneter with the speech


Keep us informed, your opinion is highly valued
  • #19,829
  • Aug 31, 2007 8:08am Aug 31, 2007 8:08am
Quoting coolhand
Reading a report from Thomson Financial that H&R Block is calling the current mortgage mess on a scale of The Great Depression and they may have to close their mortgage division if they can't sell it.

Good Morning!

Now that is the kind of good morning post I like to see.
  • #19,830
  • Aug 31, 2007 8:08am Aug 31, 2007 8:08am
Quoting lilmoe
looooooooooool, dude i know, i do have a dictionary, we're on a forum here, i don't think anyone would really care why someone would have a spelling mistake, because people are just trying to type fast. plus, that's how i spell stuff on my sms, so i'm used to it

thanks for the disclaimer thought (hope i spelled that right!)
I know bro.. I was just playing hehe.. I was hoping Aus would catch the 'visa versa' thing because he uses it all the time lol

Edit - I told you guys.. big boys are going to push this beast down.. and then *boom* when bernanke/bush are talking.
  • #19,831
  • Aug 31, 2007 8:10am Aug 31, 2007 8:10am
What is the next area of resistance above?
  • #19,832
  • Aug 31, 2007 8:11am Aug 31, 2007 8:11am
Hakuna let's see if it hits your 15 min 50ema and bounces back.. one of Soros's quotes just crossed my mind.. seeing that everyone is going to go long today 'Do the opposite of what the markets expect..' I hope that doesn't play out today!
  • #19,833
  • Aug 31, 2007 8:12am Aug 31, 2007 8:12am
Quoting VishalJ
I know bro.. I was just playing hehe.. I was hoping Aus would catch the 'visa versa' thing because he uses it all the time lol

Edit - I told you guys.. big boys are going to push this beast down.. and then *boom* when bernanke/bush are talking.

I think the opposite. The market should rise until bernanke speaks. I think we will get from him there is no immediate rate cut expected. Then the market will dive.

Just my guess. I am out after the opening spike.
  • #19,834
  • Aug 31, 2007 8:13am Aug 31, 2007 8:13am
Am i seeing something differently with you all or what, 4 hr momentum is pointing down as well as 1 hr. Could it be 4 hr sma retracement is in progress?
  • #19,835
  • Aug 31, 2007 8:14am Aug 31, 2007 8:14am
I'm sure most of you know this by now, but for those who don't FYI:

http://l.yimg.com/us.yimg.com/i/us/nws/p/ap_small.gif
Bush to outline aid to mortgage holders

By DEB RIECHMANN, Associated Press Writer1 hour, 21 minutes ago

Offering federal help for strapped mortgage holders, President Bush is proposing to aid hundreds of thousands of borrowers hard hit by the housing slump.
The president on Friday was to talk about several initiatives and reforms to help homeowners with risky mortgages keep their homes, a senior administration official said Thursday. Bush also was to discuss efforts to prevent these kinds of problems from arising in the future.
The official said Bush will direct Treasury Secretary Henry Paulson and Housing Secretary Alphonso Jackson to work on an initiative to help troubled mortgage holders get services and products they need to keep them from defaulting on their loans. The official spoke on condition of anonymity to discuss details of the initiatives ahead of the presidential event.
Bush also planned to:
• Urge Congress to pass Federal Housing Administration overhaul legislation that would give the FHA more flexibility in assisting mortgage holders with subprime mortgages.
• Pledge to work with Congress to reform the tax code to help troubled borrowers rework their loans.
• Call for rigorously enforcing predatory lending laws and strengthening lending practices.
Foreclosure and late payments have spiked, especially for so-called subprime borrowers with blemished credit histories or low incomes. Higher interest rates and weak home values have made it impossible for some to pay or to keep up with their monthly mortgage payments. Some overstretched homeowners can't afford to refinance or even sell their home.
Mortgage foreclosures and late payments are expected to worsen. Some 2 million adjustable rate mortgages are to reset to higher rates this year and next. Steep penalties for prepaying mortgages have added to some homeowners' headaches.
The economy enjoyed a strong revival in the spring although growing troubles in housing and credit markets have darkened prospects considerably since then. The Commerce Department reported on Thursday that the gross domestic product grew at an annual rate of 4 percent in the second quarter — the strongest showing in more than a year.
But that growth could be the best showing for some time as the economy continues to be battered by the worst housing slump in 16 years and a widening credit crisis that has sent financial markets on a roller-coaster ride in recent weeks
  • #19,836
  • Aug 31, 2007 8:14am Aug 31, 2007 8:14am
Quoting my2buoys
Karmo,

I've been looking over the charts and I can't find any reason for the 8GMT spike down. There was no bad news flash. It blew through all 5SMA levels and even blew through the bullish 4H trend line. It did find support at the 1H TFT but that to me is just coincidental. You could post 100 different lines on a chart until one lined up with price to prove support at any level. My point is, I read your earlier statement about it being a stop hunting expo and I think your are absolutely right. Nothing else makes sense. It's hard to figure those kinds of spikes in when placing a stop loss. Keep up the good work, my friend.

M2B
Read my post 19587
http://www.forexfactory.com/showthre...51#post1569351
  • #19,837
  • Aug 31, 2007 8:14am Aug 31, 2007 8:14am
Quoting markam
Now that is the kind of good morning post I like to see.
LOL! markam you should change your handle to doom&gloom.
  • #19,838
  • Aug 31, 2007 8:15am Aug 31, 2007 8:15am
Quoting markam
I think the opposite. The market should rise until bernanke speaks. I think we will get from him there is no immediate rate cut expected. Then the market will dive.

Just my guess. I am out after the opening spike.
Hmm.. could be.. he might not talk about anything related to the rates at all.. although everyone' expecting him to. If the market dives.. shouldn't it jump back up once Bush starts babbling? (depending on the aid package)
  • #19,839
  • Aug 31, 2007 8:15am Aug 31, 2007 8:15am
<MENU> to return to headlines. CurncyT N I

Yen Falls Versus Dollar, Euro as Bush Plan Spurs Carry Trade Page 1/6
By Kosuke Goto and Ron Harui
Aug. 31 (Bloomberg) -- The yen fell against all of the
world's 16 most-active currencies as plans by President George
W. Bush to help mortgage borrowers revived confidence in
borrowing in Japan to buy higher-yielding assets.
The currency slid about 1.5 percent against the Australian
and New Zealand dollars, favorite targets of so-called carry
trades, as stocks in Europe and Asia advanced. Bush today will
announce steps to help people with subprime mortgages keep their
homes, which may ease losses in the credit market.
``The yen is being sold,'' said Kenichi Yumoto, senior
currency dealer at Societe Generale SA in Tokyo. ``Expectations
about Bush's steps and gains in the stock markets are restoring
risk appetite.''
  • #19,840
  • Aug 31, 2007 8:16am Aug 31, 2007 8:16am
I thought bernanke wasn't speaking until 2 this afternoon. I just looked and it is 10. This will be an exciting morning.
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