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

  • #24,861
  • Sep 11, 2007 2:14pm Sep 11, 2007 2:14pm
Quoting ar1002
Good to see you. You mean the G/J will come down to 212?
I still think 232.74 and then 233.70. May have a retrace and a bounce off of 231.80-85 before then but it definately looks up to me. And if the u/y breaks and holds above 114.33 then the g/j will definately go up.If the Dow can close above 13315-20 then I think it will be up and up for the g/j.
  • #24,862
  • Sep 11, 2007 2:18pm Sep 11, 2007 2:18pm
Quoting karmostaji
At the moment there is no clear direction of where this wants to go but we are in a big range, this can still go higher, maybe 234? but I'm more of a bear for this week and the coming weeks, I'm sitting right next to markam.

then obviously you missed my comment last night that either the dow needs to come down to the 12500 area, or GJ needs to go up to the 238 area. Since the dow apparently has it's bull switch on, I am expecting GJ to be rising over the next week.

I am short right now just because I am betting on the dow dropping before close of market. That bet isn't looking so good.
  • #24,863
  • Sep 11, 2007 2:23pm Sep 11, 2007 2:23pm
Quoting markam
then obviously you missed my comment last night that either the dow needs to come down to the 12500 area, or GJ needs to go up to the 238 area. Since the dow apparently has it's bull switch on, I am expecting GJ to be rising over the next week.

I am short right now just because I am betting on the dow dropping before close of market. That bet isn't looking so good.
The DOW has just completed the 76.4% retrace from last weeks move down, it should continue it's journey downwards, but let's see what happens in the coming days..
Trade what you see, not what you think.
  • #24,864
  • Sep 11, 2007 2:23pm Sep 11, 2007 2:23pm
Quoting karmostaji
At the moment there is no clear direction of where this wants to go but we are in a big range, this can still go higher, maybe 234? but I'm more of a bear for this week and the coming weeks, I'm sitting right next to markam.

would think so. not if we see a h4 and daily close over this trendline. last week it was close to imposible to close over it. there's alot of support from all TFs and they're all pointing upwards. it's the same trendline zoran pointed out last week. i think we might see it breaking tonight (today)
take a look

Attached Image (click to enlarge)
Click to Enlarge Name: h4-major_trendline.gif Size: 19 KB
  • #24,865
  • Sep 11, 2007 2:25pm Sep 11, 2007 2:25pm
Quoting markam
then obviously you missed my comment last night that either the dow needs to come down to the 12500 area, or GJ needs to go up to the 238 area. Since the dow apparently has it's bull switch on, I am expecting GJ to be rising over the next week.

I am short right now just because I am betting on the dow dropping before close of market. That bet isn't looking so good.
At what rate you are short now? And you see it retrace to 231.85?
  • #24,866
  • Sep 11, 2007 2:26pm Sep 11, 2007 2:26pm
so far no significant profit taking. Looks like the big players expect the stock market to continue up, at least for tomorrow.
  • #24,867
  • Sep 11, 2007 2:30pm Sep 11, 2007 2:30pm
Quoting ar1002
At what rate you are short now? And you see it retrace to 231.85?
I am short at 232.19. I was looking for the dow to drop to the 13200 area by close, and pull GJ down at least 100 pips. I will stick with my short after the stock market closes, because I believe we will get a retrace, hopefully to the 4 hour sma.
  • #24,868
  • Sep 11, 2007 2:40pm Sep 11, 2007 2:40pm
Quoting markam
then obviously you missed my comment last night that either the dow needs to come down to the 12500 area, or GJ needs to go up to the 238 area. Since the dow apparently has it's bull switch on, I am expecting GJ to be rising over the next week.

I am short right now just because I am betting on the dow dropping before close of market. That bet isn't looking so good.
Sorry Markham. I wasnt trying to be a smart XXX. I was just trying to be part of the board which everyone has totally ignored me thus far except for when they want to get on my case about something.
  • #24,869
  • Sep 11, 2007 2:41pm Sep 11, 2007 2:41pm
Quoting markam
I am short at 232.19. I was looking for the dow to drop to the 13200 area by close, and pull GJ down at least 100 pips. I will stick with my short after the stock market closes, because I believe we will get a retrace, hopefully to the 4 hour sma.
No one was questioning your expertise. Actually, I didnt read your post yet. I dont believe there is any room for ego in this market.
  • #24,870
  • Sep 11, 2007 2:45pm Sep 11, 2007 2:45pm
Quoting PipChick
Sorry Markham. I wasnt trying to be a smart XXX. I was just trying to be part of the board which everyone has totally ignored me thus far except for when they want to get on my case about something.
I wasn't trying to knock anything you were saying. Nobody is trying to ignore you. There is just a lot of activity on this thread, and a lot of times comments don't get responded to. Trust me, I am reading your analysis.
  • #24,871
  • Sep 11, 2007 2:45pm Sep 11, 2007 2:45pm
looks like the bottom might have just let go
  • #24,872
  • Sep 11, 2007 2:46pm Sep 11, 2007 2:46pm
Quoting Azili
looks like the bottom might have just let go

looks like there is finally a little profit taking in the stock market.
  • #24,873
  • Sep 11, 2007 2:47pm Sep 11, 2007 2:47pm
Price is reacting nicely, I just hope this 231.80 area doesn't be an azz like it was before!
Trade what you see, not what you think.
  • #24,874
  • Sep 11, 2007 2:48pm Sep 11, 2007 2:48pm
Quoting PipChick
Sorry Markham. I wasnt trying to be a smart XXX. I was just trying to be part of the board which everyone has totally ignored me thus far except for when they want to get on my case about something.
Just want to say that I've been reading all your posts, and I greatly appreciate your analysis of this market.
  • #24,875
  • Sep 11, 2007 2:55pm Sep 11, 2007 2:55pm
watching the 231.80 level with a hawk eye, a 15min candle close below it means to go short , so will wait for confirmation as per AUS system
  • #24,876
  • Sep 11, 2007 3:00pm Sep 11, 2007 3:00pm
boy the stock market didn't drop very far. Unless there is some bad news or a bad day in the asian/european markets, I expect the dow to top 13400 tomorrow. It has only been above that level 1 day since this whole subprime mess really got started.
  • #24,877
  • Sep 11, 2007 3:00pm Sep 11, 2007 3:00pm
Got stopped out at 232.03. Looking for a reason to and a time to short.

On a side not I just wanted to thank everyone on this thread for the advice and education that they have shared.... took me a LONG time to read and try and absorb most of it...(Still got a way to go)


I moved a lot of money out of US stocks today.....Mostly mutual funds retirement stuff....Have a bad feeling this month wanted to lock in a good year of gains so far.

Good luck all

And may the pips be with you
  • #24,878
  • Sep 11, 2007 3:01pm Sep 11, 2007 3:01pm
This pair has just not been too user friendly today... It just not want to give into the bear side.
  • #24,879
  • Sep 11, 2007 3:02pm Sep 11, 2007 3:02pm
Wasn't it up to 14000 before the subprime mess? Perhaps I'm wrong.

Quoting markam
boy the stock market didn't drop very far. Unless there is some bad news or a bad day in the asian/european markets, I expect the dow to top 13400 tomorrow. It has only been above that level 1 day since this whole subprime mess really got started.
  • #24,880
  • Sep 11, 2007 3:03pm Sep 11, 2007 3:03pm
Quoting imransait
watching the 231.80 level with a hawk eye, a 15min candle close below it means to go short , so will wait for confirmation as per AUS system
Well guys..it appears that we may get to play the 231.80 area again. Remember last week when we were able to buy off the 231.80 area over and over again because of the inverse head and shoulders? The 4 hr chart is setting up the same scenario right now. It will be interresting to see if we are going to be able to play it until FOMC next week. I dont know how to post a chart or I would post what I see.
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