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

  • #23,161
  • Sep 7, 2007 11:04am Sep 7, 2007 11:04am
Quoting Spent1
Hi all: just trying to understand a little. The thought is that once it retraces to some level say 1hr 5sma it should continue back down?
yes

new 4hr momentum is still strongly bearish
Trade what you see, not what you think.
  • #23,162
  • Sep 7, 2007 11:05am Sep 7, 2007 11:05am
Quoting Spent1
Hi all: just trying to understand a little. The thought is that once it retraces to some level say 1hr 5sma it should continue back down?
That's the theory . . . price never travels in a straight line . . . ever. It stops, dips, retraces, reverses, continues, etc.
  • #23,163
  • Sep 7, 2007 11:05am Sep 7, 2007 11:05am
adios amigos
have a good weekend!
  • #23,164
  • Sep 7, 2007 11:06am Sep 7, 2007 11:06am
Japanese firm Nippon Oil is to start paying for Iranian oil in yen, rather than in US dollars.
The first payments to be made in the new currency for crude oil contracts will take place in October.

http://news.bbc.co.uk/2/hi/business/6981375.stm



Another nail in the dollar coffin. And probably the reason we will be "liberating" Iran soon.
  • #23,165
  • Sep 7, 2007 11:06am Sep 7, 2007 11:06am
229.00-229.30 might be my new girl, karmo.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #23,166
  • Sep 7, 2007 11:07am Sep 7, 2007 11:07am
Quoting Hakuna Matata
adios amigos
have a good weekend!
See ya Hakuna! THANKS!!
  • #23,167
  • Sep 7, 2007 11:07am Sep 7, 2007 11:07am
Quoting karmostaji
yes

new 4hr momentum is still strongly bearish
Karmo

Can you confirm which 5sma you are looking to go short again?

Thanks. sw
The Will is Greater than the Skill
  • #23,168
  • Sep 7, 2007 11:08am Sep 7, 2007 11:08am
Quoting SailingAway
How EVER will civilization collapse . . . if it never collapses! :-)
Every advanced culture in history has collapsed over time. Every single one. Western civilization has had a good run, but it will also. Soon.
  • #23,169
  • Sep 7, 2007 11:08am Sep 7, 2007 11:08am
Quoting jarroo
229.00-229.30 might be my new girl, karmo.

Jim
I'll B.. slap her lol, choose something like 220 :
Trade what you see, not what you think.
  • #23,170
  • Sep 7, 2007 11:08am Sep 7, 2007 11:08am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
on 1h i've got a nice 61.8 fib at 230.50 and it looks like the 5sma will meet it there.
  • #23,171
  • Sep 7, 2007 11:09am Sep 7, 2007 11:09am
Quoting skillwill
Karmo

Can you confirm which 5sma you are looking to go short again?

Thanks. sw
1hr 5sma which 230.70 or close it since we have a fib at 230.50
Trade what you see, not what you think.
  • #23,172
  • Sep 7, 2007 11:09am Sep 7, 2007 11:09am
Quoting karmostaji
1hr 5sma which 230.70 or close it since we have a fib at 230.50
Thanks
The Will is Greater than the Skill
  • #23,173
  • Sep 7, 2007 11:10am Sep 7, 2007 11:10am
Quoting karmostaji
I'll B.. slap her lol, choose something like 220 :
Indicators show the past. Price Action "Indicates" the future.
  • #23,174
  • Sep 7, 2007 11:10am Sep 7, 2007 11:10am
momentums have turned down on all time frames. we may not make it back to the 1 hour.
  • #23,175
  • Sep 7, 2007 11:10am Sep 7, 2007 11:10am
Quoting markam
momentums have turned down on all time frames. we may not make it back to the 1 hour.
the important thing about momentum is where it is pointing at the beginning of the new candle
Trade what you see, not what you think.
  • #23,176
  • Sep 7, 2007 11:11am Sep 7, 2007 11:11am
Quoting markam
Another nail in the dollar coffin. And probably the reason we will be "liberating" Iran soon.
I read that too. I think Bush just found some new terrorists, not only in Iran but also here in Japan. I book'n a flight befor the "Shock and AWE!!
  • #23,177
  • Sep 7, 2007 11:14am Sep 7, 2007 11:14am
Quoting markam
Every advanced culture in history has collapsed over time. Every single one. Western civilization has had a good run, but it will also. Soon.
Your a buzz killer markam. lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #23,178
  • Sep 7, 2007 11:14am Sep 7, 2007 11:14am
Quick question,

Let say Fed cut rate on Monday to stop further crashing the market. Is it possible this pair will bounced back to 240 level.

Is it possible that fed announce rate cut before 18.

I heard they did once in past.
  • #23,179
  • Sep 7, 2007 11:15am Sep 7, 2007 11:15am
Quoting markam
Every advanced culture in history has collapsed over time. Every single one. Western civilization has had a good run, but it will also. Soon.

i've never seen anyone as evil and pessimistic
  • #23,180
  • Sep 7, 2007 11:16am Sep 7, 2007 11:16am
It would have been nice to see a close beneath this Daily trend line on the 4H chart, but no such luck. Shorted again at 230.21, the 30M 5SMA. I know some thought that it had 'crashed through' the 30M 5SMA and therefore we would see the 1H 5SMA but remember, on GBP/JPY especially, nothing is that cut and dried. It can run through trend lines, Fibos and other S&R's by 10 or 15 pips and still be considered within the range of that mark. 30M and 15M Momentum are flat but 1H and 4H are still very bearish, as Karmo pointed out. Though the Momentum line can shift during the formation of the candle, it doesn't appear we'll see a 1H retrace before the top of the next hour, but don't forget this is Forex and anything can happen.

M2B
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