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

  • #46,541
  • Nov 1, 2007 6:19am Nov 1, 2007 6:19am
dow futures down 131 points. It might recover later, but right now it looks like the stock market is going to go down hard.
  • #46,542
  • Nov 1, 2007 6:20am Nov 1, 2007 6:20am
Quoting Zoran
If we hit 239.00 soon (within the next couple of hours), that could serve as good confirmation that shorts are good. The sooner it hits the stronger the indication (and signs of a big sell-off). It means that support is crumbling.


zoran tanks your confirmation
  • #46,543
  • Nov 1, 2007 6:23am Nov 1, 2007 6:23am
Quoting winterwhite
Islander:

Apparently so. Again the projected results for the US news in
50 minutes is not too bad. This drop may continue.
We'll see.
The Dow Future was -150, now -130 and UJ fell from M4 to bounce off its DP at 115.12. It looks as if a Big Dog took some profit.....will the rest of the pack join in??

TWT
Trading Levels with WRBs
  • #46,544
  • Nov 1, 2007 6:23am Nov 1, 2007 6:23am
U/J already crossed central pivot and is near daily pivot,...
Waiting to add more shorts if it gives,...
  • #46,545
  • Nov 1, 2007 6:24am Nov 1, 2007 6:24am
Quoting markam
dow futures down 131 points. It might recover later, but right now it looks like the stock market is going to go down hard.
if going down, what is the effect on GJ and GU?
  • #46,546
  • Nov 1, 2007 6:25am Nov 1, 2007 6:25am
Ouch my footse!!LOL:
Quoting turn1to100
Check out my NIKKI225 +...PS look out for -LONDON to hurt!! QUOTE at 3:45 PM EST...COOL
  • #46,547
  • Nov 1, 2007 6:25am Nov 1, 2007 6:25am
Hey guys I may not be as good as the experts here but I want to trade what I see not just the experts' calls. Arrow shows a "possible" pin bar(yes not yet closed but..) off the left shoulder high which could start the making of a double top in the blue box and then finally completing the weekly H&S. Yes I know the pin bar is not yet confimed but a reversal would make a double top then continue to the weekly H&S.

Yes trade what you see, what I want is some advice to learn more and not trade calls. Please tell me if what I see is severely wrong. Thank you.

http://img112.imageshack.us/img112/8821/woa233zi9.gif
  • #46,548
  • Nov 1, 2007 6:29am Nov 1, 2007 6:29am
Yup markam.. stocks should take a beating today. Citigroup downgraded.. sprint loss.. credit suisse loss.. consumer spending down blah blah. Not to mention profit-taking has been due on this pair since a few hours ago.

And I closed my aud/jpy short just before this drop began
  • #46,549
  • Edited 6:36am Nov 1, 2007 6:35am | Edited 6:36am
Hi everyone,

Also, a 2-Bar 4H Pinbar in the making... almost formed.

-Paul



P.S. - Same thing for GBP/USD
Attached Image
  • #46,550
  • Nov 1, 2007 6:36am Nov 1, 2007 6:36am
Dear Gurus 'The Institute of Supply Management (ISM) Manufacturing Index measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.'

anyone can interpret this?
  • #46,551
  • Nov 1, 2007 6:37am Nov 1, 2007 6:37am
Yes it will..I made call yesterday
Quoting markam
dow futures down 131 points. It might recover later, but right now it looks like the stock market is going to go down hard.
  • #46,552
  • Nov 1, 2007 6:41am Nov 1, 2007 6:41am
WOW... what a drop. Dow/euro/gold/silver/carries...
  • #46,553
  • Nov 1, 2007 6:42am Nov 1, 2007 6:42am
Broke through 30M 50EMA and now has bounced at the 1H 50EMA.

M2B
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 1h.gif Size: 25 KB
  • #46,554
  • Nov 1, 2007 6:43am Nov 1, 2007 6:43am
PRESSSTO CHANGE O !!POOF! LOL MAGIC:surprised 3pmEST Quote
Quoting turn1to100
GBP as you can see is weaker then Usd, and dollar should get weaker in the time frame of 9am-1pm est.which should open Dow --negative and recover long by (1pm.EST)till close 430pm
  • #46,555
  • Nov 1, 2007 6:43am Nov 1, 2007 6:43am
Those who had eaten patience pills b4 pays off..
  • #46,556
  • Nov 1, 2007 6:44am Nov 1, 2007 6:44am
Dow needs to break 13700 and hold for a real drop
  • #46,557
  • Nov 1, 2007 6:44am Nov 1, 2007 6:44am
were should this retrace to?
Losers Complain, Winners Train! Utah
  • #46,558
  • Nov 1, 2007 6:44am Nov 1, 2007 6:44am
hopes everyone enjoying the drop , we all have predicted this ... , though markam predicted it way long time ago
To Live is the rarest thing in the world , Most people exist , that is all
  • #46,559
  • Nov 1, 2007 6:45am Nov 1, 2007 6:45am
Quoting my2buoys
Well, for those who were wondering about losing the Head and Shoulders pattern, price on the 'right shoulder' almost matched the peak of the 'left shoulder' to the pip. The second chart is the 30M chart which shows that the move down just bounced off of the 30M 50EMA. I'm not saying this was just a retrace and that price will continue moving further up. The 30M 50EMA is always good for a bounce. Price could/should collect itself and continue moving down IMO.

M2B
The shoulders line up with the historical SR line I have mentioned (241.06). Therefore, it is the line that formed the shoulders as it has been around for decades! If you see a horizontal purple line on my charts, expect a reversal around that point (or a big continuation if it breaks). As promised, I was building my shorts all the way up to it (as shown). Now I'll just let MM take care of the rest.
Attached Image (click to enlarge)
Click to Enlarge Name: guppy5min.gif Size: 13 KB
  • #46,560
  • Nov 1, 2007 6:46am Nov 1, 2007 6:46am
Quoting my2buoys
Well, for those who were wondering about losing the Head and Shoulders pattern, price on the 'right shoulder' almost matched the peak of the 'left shoulder' to the pip. The second chart is the 30M chart which shows that the move down just bounced off of the 30M 50EMA. I'm not saying this was just a retrace and that price will continue moving further up. The 30M 50EMA is always good for a bounce. Price could/should collect itself and continue moving down IMO.

M2B
Bounce on the 50ema on the hourly. Nice my2buoys.

And then down.

Jim
Indicators show the past. Price Action "Indicates" the future.
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