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

  • #40,421
  • Oct 16, 2007 6:14am Oct 16, 2007 6:14am
what will be the good entry point for short?
  • #40,422
  • Oct 16, 2007 6:18am Oct 16, 2007 6:18am
Quoting maheswara
TIC -70B ?! looks like we might be goin down again ...

thats what happens when you destroy your currency
  • #40,423
  • Oct 16, 2007 6:21am Oct 16, 2007 6:21am
Quoting igmak
Me too @ 239.50.
My TP was hit while I was sleeping for 200 pips profit. Now I'm going with bulls for retracement for another 100 pips probably. It might go to 50% fib from the last down move to 238.78.

What do you think guy?
Do not follow my trades. Trade what you see on your own charts.
  • #40,424
  • Oct 16, 2007 6:24am Oct 16, 2007 6:24am
This could be a bad day in the stock market. A real bad day.
  • #40,425
  • Oct 16, 2007 6:25am Oct 16, 2007 6:25am
Quoting gau2902
what will be the good entry point for short?
Confluence of 4hr 5SMA and 50EMA.
  • #40,426
  • Oct 16, 2007 6:26am Oct 16, 2007 6:26am
Quoting igmak
My TP was hit while I was sleeping for 200 pips profit. Now I'm going with bulls for retracement for another 100 pips probably. It might go to 50% fib from the last down move to 238.78.

What do you think guy?
Are you talking to yourself?

any retracement may stop cold in 5 minutes when the stock market opens. Be very careful with longs.
  • #40,427
  • Oct 16, 2007 6:29am Oct 16, 2007 6:29am
Quoting Kane Rai
Confluence of 4hr 5SMA and 50EMA.
what is that level on your chart?
  • #40,428
  • Oct 16, 2007 6:32am Oct 16, 2007 6:32am
Quoting gau2902
what is that level on your chart?
50EMA is currently at 238.30, 5SMA at 238.38. There is also a 61.8 fib from the last upmove on the 4hr chart at 238.39.
Looks like it bounced of the TL right now, so maybe it does not retrace that far.
  • #40,429
  • Oct 16, 2007 6:33am Oct 16, 2007 6:33am
I think that is about all the retracement we will see for the day.
Bad earning reports, oil prices up, down day on stock market.
  • #40,430
  • Oct 16, 2007 6:35am Oct 16, 2007 6:35am
Quoting markam
Are you talking to yourself?

any retracement may stop cold in 5 minutes when the stock market opens. Be very careful with longs.
oO doesn't the stock market open at the same time forex opens? (us open obviously)
  • #40,431
  • Oct 16, 2007 6:36am Oct 16, 2007 6:36am
Quoting RoWkIlLa
oO doesn't the stock market open at the same time forex opens? (us open obviously)
Stock market opened 5 minutes ago, as you can tell by looking at when GJ started crashing again.

Oh, and the US forex market opens 1.5 hours before the stock market does.
  • #40,432
  • Oct 16, 2007 6:37am Oct 16, 2007 6:37am
Quoting Kane Rai
Confluence of 4hr 5SMA and 50EMA.
It's also the 38.2 4H Fib from the last move down.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 4h.gif Size: 30 KB
  • #40,433
  • Oct 16, 2007 6:38am Oct 16, 2007 6:38am
Quoting RoWkIlLa
oO doesn't the stock market open at the same time forex opens? (us open obviously)
No, US Forex open is at 8 AM, Stock market opens at 9:30 AM NY time.
  • #40,434
  • Oct 16, 2007 6:48am Oct 16, 2007 6:48am
Quoting markam
Stock market opened 5 minutes ago, as you can tell by looking at when GJ started crashing again.

Oh, and the US forex market opens 1.5 hours before the stock market does.
Quoting Kane Rai
No, US Forex open is at 8 AM, Stock market opens at 9:30 AM NY time.
Thanks
  • #40,435
  • Oct 16, 2007 6:49am Oct 16, 2007 6:49am
Stock market is showing surprising resistance towards moving down. The dow is only down about 45 points.

I don't expect this to last much longer.
  • #40,436
  • Oct 16, 2007 6:57am Oct 16, 2007 6:57am
Quoting markam
Stock market is showing surprising resistance towards moving down. The dow is only down about 45 points.

I don't expect this to last much longer.
Probably waiting on news.
  • #40,437
  • Oct 16, 2007 7:03am Oct 16, 2007 7:03am
Quoting bmwboyee
Probably waiting on news.
I guess the market could hang on until after the G7 meeting or even the next fed meeting. For all we know, the economic news doesn't matter. The next rate cut could already be a done deal.
  • #40,438
  • Oct 16, 2007 7:05am Oct 16, 2007 7:05am
In normal market conditions, I would say this beast needs to retrace to 50% which is 238.70 area, but today is not normal and I'll let our big bear markam guide us of where it is going.

Making money while sitting in a classroom listening to a boring Dr. is great btw
Trade what you see, not what you think.
  • #40,439
  • Oct 16, 2007 7:09am Oct 16, 2007 7:09am
Quoting karmostaji
In normal market conditions, I would say this beast needs to retrace to 50% which is 238.70 area, but today is not normal and I'll let our big bear markam guide us of where it is going.

Making money while sitting in a classroom listening to a boring Dr. is great btw
Yes it is, those G/U G/J positions paid off!
Craazy
  • #40,440
  • Oct 16, 2007 7:09am Oct 16, 2007 7:09am
Quoting craazy
Yes it is, those G/U G/J positions paid off!
Patience always pays off
Trade what you see, not what you think.
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