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

  • #46,661
  • Nov 1, 2007 12:31pm Nov 1, 2007 12:31pm
Closed out for today---6 tickets for a total of +224 pips...thanks to all for your insight!!
  • #46,662
  • Nov 1, 2007 12:31pm Nov 1, 2007 12:31pm
Quoting my2buoys
That would be nice. What area is your 4H Gann near? My MT4 is showing it around 238.75.

M2B
yep same thing on VT
Trade what you see, not what you think.
  • #46,663
  • Nov 1, 2007 12:34pm Nov 1, 2007 12:34pm
DOW is starting to break out downwards out of a bullish channel, if it does we'll see a nice fall
Trade what you see, not what you think.
  • #46,664
  • Nov 1, 2007 12:35pm Nov 1, 2007 12:35pm
Quoting karmostaji
GU is pushing higher just to complete that daily bearish pattern and then we'll be going to hell, it could start tomorrow.. stay tuned.
Strong NFP number(as expected ) tomorrow can delay this movement to hell for some time.
  • #46,665
  • Nov 1, 2007 12:38pm Nov 1, 2007 12:38pm
Karm,
13700 on the Dow is proving a tough nut to crack. May not happen until NFP tomorrow. When it does break----your ride to hell will continue to Dow 13500 before the next pause!!
  • #46,666
  • Nov 1, 2007 12:39pm Nov 1, 2007 12:39pm
If this breaks south where do you see major support at 236.50-.70?
  • #46,667
  • Nov 1, 2007 12:42pm Nov 1, 2007 12:42pm
Would it be safe to long if it hits 238.80 area? What do you guys think and ride it high to 241
  • #46,668
  • Nov 1, 2007 12:43pm Nov 1, 2007 12:43pm
Dow broke below 13,700 should see this resume down..
  • #46,669
  • Nov 1, 2007 12:44pm Nov 1, 2007 12:44pm
Dow Jones Industrial Average

13,699.88 Nov 1 1:37pm ET

Open:13,924.16
High (day):13,924.16
Low (day):13,667.61
  • #46,670
  • Nov 1, 2007 12:45pm Nov 1, 2007 12:45pm
Quoting smmcintyre
If this breaks south where do you see major support at 236.50-.70?
236.70 somewhere there we have the 200ma on 1Hr chart, that should provide some support
  • #46,671
  • Nov 1, 2007 12:45pm Nov 1, 2007 12:45pm
Quoting my2buoys
That would be nice. What area is your 4H Gann near? My MT4 is showing it around 238.75.

M2B
Also where the 50 ema is on 1H
  • #46,672
  • Nov 1, 2007 12:48pm Nov 1, 2007 12:48pm
karm, zoran, m2b,

do you guys have any shorts open right now that were triggered below 239?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #46,673
  • Nov 1, 2007 12:48pm Nov 1, 2007 12:48pm
Quoting smmcintyre
Dow broke below 13,700 should see this resume down..
Breaking AND staying below is what's important
  • #46,674
  • Nov 1, 2007 1:02pm Nov 1, 2007 1:02pm
Quoting moneymagnet
karm, zoran, m2b,

do you guys have any shorts open right now that were triggered below 239?
No. My last add on was at 240.18. I've been taking profits along the way. I still have a small position on. This thing could turn back up later today or tomorrow so it's best to take partial profits as you go. You can always add to your position as price retraces from time to time. Karmo has tried to teach that principle, of taking profits along the way, to the newer traders especially. This market isn't about home runs. So if you didn't get in under 239 don't feel bad. I haven't seen any good spots under that price to re-enter yet.

M2B
  • #46,675
  • Nov 1, 2007 1:07pm Nov 1, 2007 1:07pm
Quoting moneymagnet
karm, zoran, m2b,

do you guys have any shorts open right now that were triggered below 239?
This is not a call, but keep your eye on the 239.60 area. There's good confluence there. The only problem I see is that the market will begin to slow down in the next couple of hours until Asia opens.

M2B
  • #46,676
  • Nov 1, 2007 1:14pm Nov 1, 2007 1:14pm
At this moment in time I am banking profit. When I get confirmation of a downward continuation I will re-enter some entries.
  • #46,677
  • Nov 1, 2007 1:24pm Nov 1, 2007 1:24pm
Here a some things on the radar. I will look to add heavily at just under 241.00. Also looking for a potential H/S to break the NL.

On the flip side, this may not be a reversal but just a bounce off the monthly SR line. A continuation north is still a strong possibility so be prepared - take profit and re-enter (assuming you have multiples).

Notice the symmetrical triangle at the bottom failed as a continuation sign.
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  • #46,678
  • Nov 1, 2007 1:41pm Nov 1, 2007 1:41pm
Quoting my2buoys
This is not a call, but keep your eye on the 239.60 area. There's good confluence there. The only problem I see is that the market will begin to slow down in the next couple of hours until Asia opens.

M2B

Thanks Zoran and m2b,

I had already booked plenty before i asked but i value you guys opinion and i am now closed in all positions. i have a 50 and 100 sma sitting right at my bollinger band top on my 15 min chart around 239.90 that i would consider another short but i am in no hurry.

thanks
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #46,679
  • Nov 1, 2007 1:50pm Nov 1, 2007 1:50pm
Quoting moneymagnet
Thanks Zoran and m2b,

I had already booked plenty before i asked but i value you guys opinion and i am now closed in all positions. i have a 50 and 100 sma sitting right at my bollinger band top on my 15 min chart around 239.90 that i would consider another short but i am in no hurry.

thanks
Yes, I am watching that as well. The 239.60 area is still viable but 240 would definitely be better. The Daily pivot is right around 239.60 so I would consider adding a short position there myself. It all depends on Momentum and timing. We have already hit 239.50 but I want to see 239.60. Remember what Zoran said. There's a good chance that Asia will drive this thing back up to 241 during their session. And who knows what tomorrow holds.

M2B
  • #46,680
  • Nov 1, 2007 2:09pm Nov 1, 2007 2:09pm
Now falls in the GBP/JPY and GBP USD are still overall in effect with little retracement up between now and 8pmEST..340.quote yesterday
Quoting turn1to100
Now Dow will close +(up) and allow USD/JPY to keep up strength and ASAIN session should show strength with +close tonight. Which will weaken the GBP/USD and GBP/JPY....And we will get our fall on GBPJPY in LONDON--and Dow should open -negative until 4pm Tommorow. More info later..
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