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

  • #38,301
  • Oct 9, 2007 11:02am Oct 9, 2007 11:02am
Quoting RoWkIlLa
It kind of bounced off the 1h 100sma and if this hour closes as it is (a doji) the down move could continue in the next hour
Check out the 1hr 200ema . . . it's held quite nicely throughout this entire bull move and it's holding again here.
check out my blog: forexmademillionaire dot com
  • #38,302
  • Oct 9, 2007 11:05am Oct 9, 2007 11:05am
Quoting Geppy
LOL, are you the forum police now? This is a public forum (not a blog by the way) so get a clue little man. I have given plenty of analysis on this forum yet I have seen none from you.
  • #38,303
  • Oct 9, 2007 11:06am Oct 9, 2007 11:06am
Quoting RoWkIlLa
lol yes I didn't mean it would only continue in the next hour, simply that this retracement was possibly over
I believe it will hit 235.50-236 atleast
Yes sir, Im with you on that. There will be some solid support around this area, which is why I plan to scale down once we do get to it. I am not entirely sure that the retracement is over just yet. This is because of the 4 hour bar. It closed as basically a pin so I think we will see another test of 23820 before dropping back down. Just another spot to load up at. Good luck in your trading!
I dream, therefore I become.
  • #38,304
  • Oct 9, 2007 11:16am Oct 9, 2007 11:16am
Quoting Geppy
Check out the 1hr 200ema . . . it's held quite nicely throughout this entire bull move and it's holding again here.
It will break after gaining some selling power, patience.
Trade what you see, not what you think.
  • #38,305
  • Oct 9, 2007 11:38am Oct 9, 2007 11:38am
Quoting mktjong
Are we there yet? http://www.forexfactory.com/images/icons/icon10.gif
I missed most of the move last nite. Might as well scoop it up from the bottom http://www.forexfactory.com/images/icons/icon10.gif
Hi guys, I really scooped it up from bottom to top this morning on EUR/JPY, and got +30 pips on bigger lots
Trading this pair is like playing yo yo http://www.forexfactory.com/images/icons/icon10.gif
  • #38,306
  • Oct 9, 2007 12:29pm Oct 9, 2007 12:29pm
Fed notes being released in 30 minutes and the dow is dropping. Fakeout, or does the market really know something?
  • #38,307
  • Oct 9, 2007 12:33pm Oct 9, 2007 12:33pm
Quoting Geppy
Hello all, don't forget I had a hedge/net short order in for 238.50 Go back and find the post if you don't believe me. Too funny

TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #38,308
  • Oct 9, 2007 1:04pm Oct 9, 2007 1:04pm
karmo, are you still short?
  • #38,309
  • Oct 9, 2007 1:08pm Oct 9, 2007 1:08pm
Quoting bmwboyee
karmo, are you still short?
yes, I'll keep it open till it hits TP for 200 pips, might add new shorts when I get aus 15m trade signal and if momentum and everything else look good for shorts.
Trade what you see, not what you think.
  • #38,310
  • Oct 9, 2007 1:09pm Oct 9, 2007 1:09pm
I saw nothing significant in the minutes, and it looks like the market doesn't either
  • #38,311
  • Oct 9, 2007 1:09pm Oct 9, 2007 1:09pm
here it is

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.

Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.

Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.

Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; William Poole; Eric Rosengren; and Kevin M. Warsh.

In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco.
  • #38,312
  • Oct 9, 2007 1:12pm Oct 9, 2007 1:12pm
Quoting markam
I saw nothing significant in the minutes, and it looks like the market doesn't either

I agree it gbp/jpy should maintain the downward move and should pick up in a few hours
  • #38,313
  • Oct 9, 2007 1:28pm Oct 9, 2007 1:28pm
Quoting karmostaji
It will break after gaining some selling power, patience.
I've re-evaluated my targets. First one is around 235.00, second around 231.00 and third around 221.00 Sure the third one is a bit optimistic but this could potentially be a big one. I do expect a reversal around 231 but some bad news could change that.
  • #38,314
  • Oct 9, 2007 1:38pm Oct 9, 2007 1:38pm
Quoting Zoran
I've re-evaluated my targets. First one is around 235.00, second around 231.00 and third around 221.00 Sure the third one is a bit optimistic but this could potentially be a big one. I do expect a reversal around 231 but some bad news could change that.
nice, I have the daily 38.2% fib at 231.44, I'm totally with you bro
Trade what you see, not what you think.
  • #38,315
  • Oct 9, 2007 1:39pm Oct 9, 2007 1:39pm
Quoting Zoran
I've re-evaluated my targets. First one is around 235.00, second around 231.00 and third around 221.00 Sure the third one is a bit optimistic but this could potentially be a big one. I do expect a reversal around 231 but some bad news could change that.
The stock market doesn't share your optimism. We are looking at possibly a new record high close for the dow.
  • #38,316
  • Oct 9, 2007 1:40pm Oct 9, 2007 1:40pm
Quoting markam
The stock market doesn't share your optimism. We are looking at possibly a new record high close for the dow.
Yep, I can see that. I think DOW is going to 14,800, possibly 15,000.
  • #38,317
  • Oct 9, 2007 1:43pm Oct 9, 2007 1:43pm
i sure hope it goes to a record high close so that i can short from there

But yeah, 14112 now.. i'll sit at the sidelines and watch how it closes..

Quoting markam
The stock market doesn't share your optimism. We are looking at possibly a new record high close for the dow.
  • #38,318
  • Oct 9, 2007 1:43pm Oct 9, 2007 1:43pm
Quoting Zoran
Yep, I can see that. I think DOW is going to 14,800, possibly 15,000.
Only if the feds decide we just have to have another .5% cut at the end of this month.
  • #38,319
  • Oct 9, 2007 1:50pm Oct 9, 2007 1:50pm
that was either a great shorting opportunity, or I am totally screwed.

it better go back down.
  • #38,320
  • Oct 9, 2007 1:51pm Oct 9, 2007 1:51pm
Quoting markam
that was either a great shorting opportunity, or I am totally screwed.

it better go back down.
Indeed, touched 61.8% fibo at 238.65
Trade what you see, not what you think.
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