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

  • #48,641
  • Edited Nov 8, 2007 1:45am Nov 7, 2007 6:23pm | Edited Nov 8, 2007 1:45am
Quoting Tiger Hunter
i hope you sail smooth with the flow today , it is good day to me
what about you?
It's been the best day of the week so far. I underestimated how far price would drop today, but it worked out alright. Doing a little scalping right now.
  • #48,642
  • Nov 7, 2007 6:27pm Nov 7, 2007 6:27pm
Quoting GJtrader
when Nikkei will open?
The Nikkei opened 25 minutes ago and is down 280 points
  • #48,643
  • Nov 7, 2007 6:29pm Nov 7, 2007 6:29pm
M2B are you going to take a trade at that level or wait and see how its moving within that range?
  • #48,644
  • Nov 7, 2007 6:29pm Nov 7, 2007 6:29pm
Quoting my2buoys
I know the Momentum on most TFs is still bearish for the most part, but I can see this thing retracing back to at least 237.30 where there is a confluence of resistance lines including the 4H 5SMA, the 50 Fib line from the last move down and the 15M 50EMA.

M2B
Don't forget the monthly pivot and new daily pivot are in that mess as well.
  • #48,645
  • Nov 7, 2007 6:29pm Nov 7, 2007 6:29pm
Quoting my2buoys
I know the Momentum on most TFs is still bearish for the most part, but I can see this thing retracing back to at least 237.30 where there is a confluence of resistance lines including the 4H 5SMA, the 50 Fib line from the last move down and the 15M 50EMA.

M2B
I figure the higher it retraces, the easier it will fall later. I am assuming we won't see any down action until after the japanese lunch break.
  • #48,646
  • Nov 7, 2007 6:30pm Nov 7, 2007 6:30pm
whats going on withith the beast keeps going north whats the deal
  • #48,647
  • Edited 6:37pm Nov 7, 2007 6:33pm | Edited 6:37pm
I have a diffrent target in mind. I am seeing the 5SMA at 237.79. But my 50 fib is at the same spot too. 237.32.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp630.gif Size: 15 KB
  • #48,648
  • Nov 7, 2007 6:33pm Nov 7, 2007 6:33pm
Quoting vinesh2
whats going on withith the beast keeps going north whats the deal
have you been reading what the other traders have been posting? Its retracing
  • #48,649
  • Nov 7, 2007 6:34pm Nov 7, 2007 6:34pm
Quoting markam
I figure the higher it retraces, the easier it will fall later. I am assuming we won't see any down action until after the japanese lunch break.
You're probably right. After it reaches its retracement level, either the 50 or 61.8 Fib, it'll probably graze there for awhile (or 'chop wood', as Peter Bain would say). That will give the Stochastics/RSI time to work out of their OS conditions and prepare for another move down.

M2B
  • #48,650
  • Nov 7, 2007 6:35pm Nov 7, 2007 6:35pm
The Nikkei is down 290 points right now.
  • #48,651
  • Nov 7, 2007 6:38pm Nov 7, 2007 6:38pm
Quoting khmr
M2B are you going to take a trade at that level or wait and see how its moving within that range?
It depends on timing. I use timing and Momentum together to decide if price will move more in the direction it is currently heading. At the pace price is currently retracing, it looks like it might end up hitting around 237.35 by the top of the new hour, which would be good timing. When price retraces to a resistance/support line too quickly, many times it will end up shooting past that line. I might go ahead and take a small position at the 237.35 area if price maintains its current retracement pace.

M2B
  • #48,652
  • Nov 7, 2007 6:38pm Nov 7, 2007 6:38pm
CSCO was down huge in after hours. No help from the tech sector tomorrow.
  • #48,653
  • Nov 7, 2007 6:41pm Nov 7, 2007 6:41pm
Quoting vinesh2
whats going on withith the beast keeps going north whats the deal
It has to go back up to find some more sellers. As Markam said, the higher it goes back up, the more sellers it will pick up along the way and the farther down it will go afterwards (at least that's the general theory behind retracements).

M2B
  • #48,654
  • Nov 7, 2007 6:43pm Nov 7, 2007 6:43pm
Quoting charvo
I admit that gene u r great, but no matter how great you are, when u predict the price this way, it is usually at most a game for fun instead of profit. Newbies should not follow it to trades.

as to the retrace, for the whole next week? i don't believe it. let's see.

Charvo,

I know gene22 and I got out on the wrong foot together earlier. But he has proven he was right. He has made me realize he was in a better direction than I was in.

Yes he has provided a number of information leading to what GBPJPY price is in right now and provided some charts showing why he believe in it. But I believe he is not the person to spoon feed us the info all the way.

You can see in his post that he wanted us to think about what he posted and ask questions and not just swallow it hook line and sinker.

This is something I and the rest of the newbies need to learn. We have to think, analyze and ask questions. (sensible ones of course).

EG
  • #48,655
  • Nov 7, 2007 6:47pm Nov 7, 2007 6:47pm
I think we might even see 238.50 again today.

The CS are all inside the downward channel again.

The daily CS looks bullish to me.

Just my observation......pls dont take trades based on this.

Anyone saw Aus around?
  • #48,656
  • Nov 7, 2007 6:48pm Nov 7, 2007 6:48pm
Some of you might recall that I posted this graph a week or so ago.

Attached Image


I thought I would show you the the latest.]

Attached Image


This is basically a tracking index for the AAA and AA rated CDO's

Here is one of the lower rated ones.

Attached Image
  • #48,657
  • Nov 7, 2007 6:51pm Nov 7, 2007 6:51pm
to yen index which is falling hard time from open 8935 to 8895, when yen index stop to fall, g/y could go in free fall again.
  • #48,658
  • Nov 7, 2007 6:53pm Nov 7, 2007 6:53pm
Quoting uncleforex
Anyone saw Aus around?
http://www.forexfactory.com/showthre...t=54585&page=9
  • #48,659
  • Nov 7, 2007 6:54pm Nov 7, 2007 6:54pm
Quoting Zoran
I can't remember the last time I called a long. It has been a while. It's a shame it didn't got back into the 240's otherwise I would have been fully loaded. First TP was 235 region (50% fib on the daily).
You're the man I held my short positions this morning (too many people were saying it was going to go long based on whatever patterns they were seeing) Fundamentals obviously said otherwise.. good thing I held on, hit my TP @ 236.

I expect a bearish day tomorrow but I'm going to stay out till the BoE decision.. might get choppy.
  • #48,660
  • Nov 7, 2007 7:04pm Nov 7, 2007 7:04pm
I show an Asian session daily pivot of 237.16. So far price has respected it.
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