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

  • #26,441
  • Sep 13, 2007 4:07pm Sep 13, 2007 4:07pm
Quoting Hakuna Matata
short again 231.45
same here
Trade what you see, not what you think.
  • #26,442
  • Sep 13, 2007 4:07pm Sep 13, 2007 4:07pm
Quoting karmostaji
completed
indeed, added shorts right at that point!
  • #26,443
  • Sep 13, 2007 4:08pm Sep 13, 2007 4:08pm
Thanks Karm! Nice strategy.


Frank


Quoting karmostaji
100 pips but i'm locking in small # of pips once it goes my way 40-50 pips, then it becomes a free trade (win-win)
  • #26,444
  • Sep 13, 2007 4:08pm Sep 13, 2007 4:08pm
i would suggest everyone be carefull of their predictions now. it's ok to scalp, but not to take long term positions at the meantime. this thing as powerfull supports and resistances right now, and could go either way... however i'll stay out untill i see something stable, but that's just me


gonna have to go now, thanks all! happy trading!
  • #26,445
  • Sep 13, 2007 4:08pm Sep 13, 2007 4:08pm
231.32 weekly pivot
  • #26,446
  • Sep 13, 2007 4:09pm Sep 13, 2007 4:09pm
remember guys/girls, TP 230.70 and then we'll see if it breaks lower or not
Trade what you see, not what you think.
  • #26,447
  • Sep 13, 2007 4:10pm Sep 13, 2007 4:10pm
Quoting karmostaji
your target is 210, no worries about entrance buddy

just wait for a 30m retracement or maybe 15m

Well I would prefer not to be short if we take the long route through 251 first.
  • #26,448
  • Sep 13, 2007 4:10pm Sep 13, 2007 4:10pm
Quoting MPP
"Although the firm remains profitable, the fact that it has had to go cap in hand to the Bank is the most tangible sign that the crisis in financial markets is spilling over into businesses that touch most of our lives," he added.
http://newsimg.bbc.co.uk/shared/img/o.gifhttp://newsimg.bbc.co.uk/nol/shared/...t_quote_rb.gif It is much more exposed than its rivals to this distaste for mortgage debt http://newsimg.bbc.co.uk/nol/shared/...d_quote_rb.gif


Robert Peston
BBC Business Editor

http://newsimg.bbc.co.uk/nol/shared/...ashed_line.gif

Northern Rock's share price

The Governor of the Bank of England, Mervyn King, said in a letter to the Treasury Select Committee on Wednesday that the Bank would be prepared to provide emergency loans to a bank that ran into difficulties, so long as those difficulties were the result of temporary market conditions.



wierd yes but the BOE thinks they will servive. so by the morning all will be back to normal LOL

I wouldnt buy too much into it, as King clearly stated that he wouldn't want to help out imprudent lenders. His statements were pretty clear. I dont see the BoE helping out here lightly.
Northern Rock the 5th largest lender in the UK based in the North East of England where there was the greatest price drop in property prices.

The reason why King appears so cool is that with the current rate we will only experience a slow down in property prices but not a drop like in the US. I've seen some HSBC graphs that showed that even with a 6% base rate property prices would still grow, though only marginally.
Sure, a few regional pockets will experience a price drop but thats it.

So no bail out, and rates will stay put for a while.

Apart from that Diamond (a top dog at Barclays bank) praised the FED and EZB for their thoughtful moves (injecting cash) indirectly critisicing the BoE for not doing so.
I would trust those banking sharks only as far as I can throw them.
Diamond must be smacking his lips for an opportunity to get hold of cheap money.
His critique of the BoE seems particularly peculiar after he stated that Barclays is flushed with liquidity, when it was rumoured that Barclays had liquidity problems in conjunction with a recent £ 340 mill interbank lending from the BoE.

Northen Rock my a*s, this is just a bit of panic mongering. More has to happen before its serious. (ALL imho)
Be like a post stamp! Stick to it until you get there!
  • #26,449
  • Sep 13, 2007 4:10pm Sep 13, 2007 4:10pm
Quoting lilmoe
i would suggest everyone be carefull of their predictions now. it's ok to scalp, but not to take long term positions at the meantime. this thing as powerfull supports and resistances right now, and could go either way... however i'll stay out untill i see something stable, but that's just me


gonna have to go now, thanks all! happy trading!
Definately lilmo!! Its sitting right on a deciding factor price.
  • #26,450
  • Sep 13, 2007 4:11pm Sep 13, 2007 4:11pm
Quoting PipChick
Definately lilmo!! Its sitting right on a deciding factor price.
finger on trigger..lol
  • #26,451
  • Sep 13, 2007 4:11pm Sep 13, 2007 4:11pm
Quoting mades
228.5 means GU at 2.0043 while UJ at 114 or GU at 2.0132 while UJ at 113.5. Please, what makes you think, it will hapen THIS week ?
This pair has just fallen 300+ pips in just a couple of hours. 228.50 is only 300 more pips away. A fall of 600 pips in one day is nothing unusual for this pair. Though we may have to wait until London for this to happen. There will be no good news good enough to save it from falling.
  • #26,452
  • Sep 13, 2007 4:11pm Sep 13, 2007 4:11pm
t/p--230.78 61.8% reraced of rtecent 4hr move UP
  • #26,453
  • Sep 13, 2007 4:13pm Sep 13, 2007 4:13pm
Quoting markam
Well I would prefer not to be short if we take the long route through 251 first.
don't confuse the newbie's now markam LOL

I've come to agree that everything is going to hell (financial markets)
Trade what you see, not what you think.
  • #26,454
  • Sep 13, 2007 4:18pm Sep 13, 2007 4:18pm
Quoting karmostaji
don't confuse the newbie's now markam LOL

I've come to agree that everything is going to hell (financial markets)
I bought the bounce at 24 and I bet Karm beats it down cause he is short!!! Be nice Karm!
  • #26,455
  • Sep 13, 2007 4:19pm Sep 13, 2007 4:19pm
231.46 is the 38.2% daily fibo level acting as resistance
Trade what you see, not what you think.
  • #26,456
  • Sep 13, 2007 4:19pm Sep 13, 2007 4:19pm
Quoting Pipsqueak
This pair has just fallen 300+ pips in just a couple of hours. 228.50 is only 300 more pips away. A fall of 600 pips in one day is nothing unusual for this pair. Though we may have to wait until London for this to happen. There will be no good news good enough to save it from falling.
That is true, but GJ is ultimately driven by GU and UJ since these 2 pairs are being most traded together with EU. So when doing any predictions about such a strong fall i tend to watch also gu and uj charts. I believe we will see 228, but not sooner than next week, because only fed's rate cut decision is strong enough to push both GU and UJ below their support levels. Buut, anything is possible right now
  • #26,457
  • Sep 13, 2007 4:19pm Sep 13, 2007 4:19pm
Quoting PipChick
I bought the bounce at 24 and I bet Karm beats it down cause he is short!!! Be nice Karm!
If 52 doesnt give we are back down again.
  • #26,458
  • Sep 13, 2007 4:19pm Sep 13, 2007 4:19pm
Quoting PipChick
I bought the bounce at 24 and I bet Karm beats it down cause he is short!!! Be nice Karm!
lol you have 10-15 mins to do your thing
Trade what you see, not what you think.
  • #26,459
  • Sep 13, 2007 4:20pm Sep 13, 2007 4:20pm
so since the news came outside of london trading period, can be assumed that once london open, all hell will break loose?
  • #26,460
  • Sep 13, 2007 4:20pm Sep 13, 2007 4:20pm
Quoting Hakuna Matata
short again 231.45

HM, karmo. what is your SL?
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