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

  • #26,261
  • Sep 13, 2007 3:39pm Sep 13, 2007 3:39pm
The Pair Is Going Down On A Good Uptrend. Is This A Retracement. 232.30 Seems Good Support. But I Guess It Will Have To Break 233 First. Which Direction R U Guys In?(sorry For The Caps Seems To Be Broken)
  • #26,262
  • Sep 13, 2007 3:39pm Sep 13, 2007 3:39pm
Quoting markam
that drop looked like a pretty big bearish sign for asian and european sessions.

bro.. thats just a retracement
  • #26,263
  • Sep 13, 2007 3:41pm Sep 13, 2007 3:41pm
Quoting khmr
nice one Mark...was gona ask you you're using Yahoo for your dow #'s right?
yahoo or google. Would like to find a streaming dow source, but so far have had to settle for hitting the refresh button a lot.
  • #26,264
  • Sep 13, 2007 3:43pm Sep 13, 2007 3:43pm
Quoting auslanco
bro.. thats just a retracement
I was talking about the speed of the retrace. Normally, it is slow, with lots of little ups and downs. That damn thing fell off a cliff as soon as the US markets closed and stopped exactly on the 4-hr sma. It was a thing of beauty.
  • #26,265
  • Sep 13, 2007 3:44pm Sep 13, 2007 3:44pm
Quoting markam
yahoo or google. Would like to find a streaming dow source, but so far have had to settle for hitting the refresh button a lot.
www.cnn.com has great Dow feeds. i don't think there is a delay.
  • #26,266
  • Sep 13, 2007 3:45pm Sep 13, 2007 3:45pm
Quoting bmwboyee
www.cnn.com has great Dow feeds. i don't think there is a delay.
thanks, I will check it out tomorrow
  • #26,267
  • Sep 13, 2007 3:45pm Sep 13, 2007 3:45pm
Quoting karmostaji
I'm not really into these indicators but something else I would like to say is, whenever it is overbought, it does NOT mean price should fall, price could consolidate until it gets itself out of the overbought area and then shoot up again, I've watched these indicators a lot and like M2B said at once, use it as secondary confirmation only.
Thanks!
  • #26,268
  • Sep 13, 2007 3:45pm Sep 13, 2007 3:45pm
it found support on the 200 SMA on 5 min chart, got to watch a break of it to target 232.60
  • #26,269
  • Sep 13, 2007 3:45pm Sep 13, 2007 3:45pm
Quoting markam
that drop looked like a pretty big bearish sign for asian and european sessions.
Yeah thinking those sessions will help it finish its retracement lower or is this news really bad news for the pair?

The Northern Rock Bank has applied to the Bank of England for Emergency Support.

http://news.bbc.co.uk/1/hi/default.stm
  • #26,270
  • Sep 13, 2007 3:46pm Sep 13, 2007 3:46pm
although i hate scalping, i'm starting to like this hit and run business
  • #26,271
  • Sep 13, 2007 3:47pm Sep 13, 2007 3:47pm
Also Noticed That Since Aug 15th On The Hourly Chart That 234 Figure Has Been Hit App. 7 Times( 2 Times Is Double Top What Do U Call 7?) And Gone Down Long Way. For This Uptrend To Continue Maybe It Will Have To Decisively Close Above This Level Or Maybe It Will Range Or Go Down Again As It Is A Pretty Tough Resisitance Level.
  • #26,272
  • Sep 13, 2007 3:47pm Sep 13, 2007 3:47pm
If you guys need updates on traffic and weather you just let me know k...
"Only when the tide goes out will we know who is swimming naked."
  • #26,273
  • Sep 13, 2007 3:49pm Sep 13, 2007 3:49pm
Quoting markam
I was talking about the speed of the retrace. Normally, it is slow, with lots of little ups and downs. That damn thing fell off a cliff as soon as the US markets closed and stopped exactly on the 4-hr sma. It was a thing of beauty.
bro.. I will be trading from e-signal charts soon. I will have access to DOW, S&P, e mini, Nasdaq, FTSE and nikkei. I 'm hoping to trade all that from next year. These charts will be great for you. All live data feed.
  • #26,274
  • Sep 13, 2007 3:49pm Sep 13, 2007 3:49pm
Quoting imransait
it found support on the 200 SMA on 5 min chart, got to watch a break of it to target 232.60
nice one imran bro
Trade what you see, not what you think.
  • #26,275
  • Sep 13, 2007 3:53pm Sep 13, 2007 3:53pm
Quoting markam
yahoo or google. Would like to find a streaming dow source, but so far have had to settle for hitting the refresh button a lot.
Markam, not sure if it helps or not, but I am using my optionsXpress account for real-time streaming charts for Dow, treasuries, ISE FX options, etc. You have to signup for an account to get access, but there is no minimum deposit required. Not sure if signing up using fake info works or not, since I used real info

The only drawback is that they don't give access to the futures charts unless you deposit a good chunk of $
  • #26,276
  • Sep 13, 2007 3:53pm Sep 13, 2007 3:53pm
short .. becareful.. there will be a bounce back from 4hr 5 sma
  • #26,277
  • Sep 13, 2007 4:00pm Sep 13, 2007 4:00pm
Quoting Zoran
Fundamentally, overbought is when the uninformed bought off the smart money - where the smart money knew buyers were running out and prices would start to fall. In the media, this translates to headlines like "Times have never been better!" and everyone gets loans, spends and buys stocks.

And oversold is when the uninformed sold to the smart money - where the smart money knew it was cheap and going to go up. In the media, this translates to the headlines like "The Economy has collapsed - things will get worse" and everyone just wants to get out.

The smart money is always waiting! The idea is to be on their side. They probably even control the media?

Now, I don't tend to use those terms but that's the way I see it.
Thanks. So an overbought condition might show up near the end of a bull run that's running out of steam. An oversold condition might show up near the end of a bear run that's petering out.
  • #26,278
  • Sep 13, 2007 4:00pm Sep 13, 2007 4:00pm
Quoting markam
I was talking about the speed of the retrace. Normally, it is slow, with lots of little ups and downs. That damn thing fell off a cliff as soon as the US markets closed and stopped exactly on the 4-hr sma. It was a thing of beauty.
Yes, very beautiful.

Been Short since 234.54.
Humble Lifetime Member
  • #26,279
  • Sep 13, 2007 4:02pm Sep 13, 2007 4:02pm
guys, this is not retracement, looks to me a 200 pip move down , got to watch if 232 level holds as it did so many times past week.
60 ma has crossed over 200 MA on the 1 min chart and seeing past history of such cross overs, need to watch every S & R levels if they hold. I suspect 232 level should give it a bounce back, lets watch it in Asian and Uk Session
I am currently short from 233.91 , 1st TP was 233.30 , its reached, closed 50% of my positions, left next 50% open for TP at 232.65 ( 5 pips above Karmos Target)
i have a limit order at 231.85 ready for going long, with SL at 231.35 and TP of 232.30 for the night, going to bed now
  • #26,280
  • Sep 13, 2007 4:03pm Sep 13, 2007 4:03pm
Good Zoran But Sometimes When The Trend Is Very Strong The Overbought / Oversold Conditions May Remain For A Long Time And The Trend May Continue. Cot Report Seems To Be A Good Source To Know What The Smart Money Is Thinking.
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