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

  • #24,801
  • Sep 11, 2007 11:32am Sep 11, 2007 11:32am
Anybody think this is going to fall off by end of day?
  • #24,802
  • Sep 11, 2007 11:33am Sep 11, 2007 11:33am
Quoting jmatt
geeze, not only does bernie kill the market when he talks....he's now killed the chat on here.

i guess everyone had shorts, and got pissed because of the loss...
thank god i made up for all my losses earlier today.
i'm long since 230.40, and i'm gonna hold on into this one.
  • #24,803
  • Sep 11, 2007 11:34am Sep 11, 2007 11:34am
I'm out of my longs now, trying to gauge if there's a short opportunity anywhere today.

Quoting lilmoe
i guess everyone had shorts, and got pissed because of the loss...
thank god i made up for all my losses earlier today.
i'm long since 230.40, and i'm gonna hold on into this one.
  • #24,804
  • Sep 11, 2007 11:55am Sep 11, 2007 11:55am
It looks like the hedge funds are going to try halting redemptions as opposed to just dissolving. That is going to piss of the very wealthy investors that have their money in these funds. I believe that most hedge funds are only going to have two choices, halt redemptions or dissolve, so we are looking at some really nasty legal battles.

http://www.bloomberg.com/apps/news?p...d=aGfQ5jcOrx1Q

Quote
Y2K Finance Hedge Fund Halts Redemptions and Sales

The crash is drawing ever nearer.
  • #24,805
  • Sep 11, 2007 12:02pm Sep 11, 2007 12:02pm
Markam, do you see any short opprtunities today? I don't think this rally will last. What are your thoughts?

Quoting markam
It looks like the hedge funds are going to try halting redemptions as opposed to just dissolving. That is going to piss of the very wealthy investors that have their money in these funds. I believe that most hedge funds are only going to have two choices, halt redemptions or dissolve, so we are looking at some really nasty legal battles.

http://www.bloomberg.com/apps/news?p...d=aGfQ5jcOrx1Q



The crash is drawing ever nearer.
  • #24,806
  • Sep 11, 2007 12:05pm Sep 11, 2007 12:05pm
Quoting BenQ
Markam, do you see any short opprtunities today? I don't think this rally will last. What are your thoughts?
I think a break above 231.90 will take us to 232.74 If we cant break above 90 then I see a good short.
  • #24,807
  • Sep 11, 2007 12:08pm Sep 11, 2007 12:08pm
Quoting lilmoe
i guess everyone had shorts, and got pissed because of the loss...
thank god i made up for all my losses earlier today.
i'm long since 230.40, and i'm gonna hold on into this one.

Good job. Show us a chart, my friend.

I see we are just off of a 50 fib @ 231.83. (235.49/228.22)

Something to respect.
  • #24,808
  • Sep 11, 2007 12:11pm Sep 11, 2007 12:11pm
Quoting fourxtrader
Good job. Show us a chart, my friend.

I see we are just off of a 50 fib @ 231.83. (235.49/228.22)

Something to respect.
How do I post a chart?
  • #24,809
  • Sep 11, 2007 12:13pm Sep 11, 2007 12:13pm
Good rally in the dow - not that i'm convinced by it. I'm unsure that the fed will actually cut - and i still hope they do not.
  • #24,810
  • Sep 11, 2007 12:17pm Sep 11, 2007 12:17pm
Yep. Been bumping up against the 50 on the daily as well over the last few days.

Quoting fourxtrader
Good job. Show us a chart, my friend.

I see we are just off of a 50 fib @ 231.83. (235.49/228.22)

Something to respect.
  • #24,811
  • Sep 11, 2007 12:24pm Sep 11, 2007 12:24pm
I noticed that momentum is pointing down in 4H, 2H, 1H and 30m. Doesn't this indicate that it is more likely to go down?

~G.
  • #24,812
  • Sep 11, 2007 12:27pm Sep 11, 2007 12:27pm
Quoting BenQ
Yep. Been bumping up against the 50 on the daily as well over the last few days.

Reminds me of a simple trading strategy offered by JacKo from another thread:

The trend is the BEST friend you will ever have in the Forex market.

When you trade with the trend, even if you make a mistake, the market will get you out of your problem....If you make a mistake and you are fighting the trend ...YOU ARE STUFFED, BIG TIME !!!

EVERYONE SHOULD TEST OUT THIS VERY UNUSUAL AND RARELY USED STRATEGY;

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price... I also use the 50% Fib ratio..and "round numbers"....That's it, nothing else.)
3. bank your profits
__________________
Jacko
  • #24,813
  • Sep 11, 2007 12:27pm Sep 11, 2007 12:27pm
Anybody seen Karmo lately? Where the heck is he?
  • #24,814
  • Sep 11, 2007 12:30pm Sep 11, 2007 12:30pm
Quoting fourxtrader
Good job. Show us a chart, my friend.

I see we are just off of a 50 fib @ 231.83. (235.49/228.22)

Something to respect.
i posted more than 3 today, would u mind going back through the pages on this thread?
  • #24,815
  • Sep 11, 2007 12:31pm Sep 11, 2007 12:31pm
I am long from 231.55 (not the best entry) SL 231.15 TP 233.00. You guys see this breaking out to 233 or not getting past 231.85 today?
  • #24,816
  • Sep 11, 2007 12:33pm Sep 11, 2007 12:33pm
My charts show that the 1HR has precisely retraced back to the 5sma. (231.54).
Does that satisfy the markets requirement for a breather and now it goes back up
to test the highs for the session and the 50 fib. (231.83)
  • #24,817
  • Sep 11, 2007 12:34pm Sep 11, 2007 12:34pm
Quoting smmcintyre
I am long from 231.55 (not the best entry) SL 231.15 TP 233.00. You guys see this breaking out to 233 or not getting past 231.85 today?
If we get above 231.90 on the bid we will probably see 232.74 target.
  • #24,818
  • Sep 11, 2007 12:34pm Sep 11, 2007 12:34pm
Quoting AlphaGA
I noticed that momentum is pointing down in 4H, 2H, 1H and 30m. Doesn't this indicate that it is more likely to go down?

~G.

nope, when momentum is pointing down AT OPENING of a candle, that means it's going to retrace to 5sma for that respective TF, however if momentum crosses the 0 line, that means it's going to retrace to TFT line.

hope that helps
  • #24,819
  • Sep 11, 2007 12:35pm Sep 11, 2007 12:35pm
Quote
If we get above 231.90 on the bid we will probably see 232.74 target
Thanks for the reply, looks like we are testing that now, adjusted TP to 232.70...
  • #24,820
  • Sep 11, 2007 12:43pm Sep 11, 2007 12:43pm
Quoting fourxtrader
My charts show that the 1HR has precisely retraced back to the 5sma. (231.54).
Does that satisfy the markets requirement for a breather and now it goes back up
to test the highs for the session and the 50 fib. (231.83)

The USDJPY is similiarly sitting on it 50 fib @ 114.12
and we keep bouncing off of ours.

And the EJ is right at it's 61.8
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