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

  • #48,761
  • Nov 8, 2007 2:11am Nov 8, 2007 2:11am
Quoting gau2902
It doesn't seem to close above this level. If doesn't then do you favor short?
This is forex, not wonderland and miracles will not happen in a couple of minutes.
Trade what you see, not what you think.
  • #48,762
  • Nov 8, 2007 2:16am Nov 8, 2007 2:16am
Quoting karmostaji
This is forex, not wonderland and miracles will not happen in a couple of minutes.

karmo u da man
Good judgment comes from experience, and experience comes from bad judgment
  • #48,763
  • Nov 8, 2007 2:17am Nov 8, 2007 2:17am
Looks like g/j daily CS is bullish after all
  • #48,764
  • Nov 8, 2007 2:21am Nov 8, 2007 2:21am
Ha Ha . . My S/L is above the 4 hour 61 fib (238.20).

Take that you stop hunters.
Indicators show the past. Price Action "Indicates" the future.
  • #48,765
  • Nov 8, 2007 2:24am Nov 8, 2007 2:24am
Yellow fibs = Previous bull run

Blue fibs recent bear run from 240 to 235 yesterday.

Price waffled a little bit around the 38.2 retracement of bull run and then now currently testing the 38.2 retracement of yesterdays bear run.

QQE 60 bearish on 1 hr chart while both QQE 5 and QQE 1 have tunred bullish albiet both below 50.

MOM c1,c10 and c14 have tunred upwards on my 1 HR charts.

I had initially thought that the pound will come off its high just prior to BoE announcement and that will drag the GY down but since the london opening, the price, if anything has climbed higher.

Lets see how it pans out today.

hope everyone made pips yesterday.

Attached Image (click to enlarge)
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  • #48,766
  • Nov 8, 2007 2:28am Nov 8, 2007 2:28am
Karmostaji,

Just sent u a PM.
Can u reply to it Plz.

Thx.
  • #48,767
  • Nov 8, 2007 2:29am Nov 8, 2007 2:29am
Quoting sri
Karmostaji,

Just sent u a PM.
Can u reply to it Plz.

Thx.
Done.
Trade what you see, not what you think.
  • #48,768
  • Nov 8, 2007 2:32am Nov 8, 2007 2:32am
Got this off ForexB*stards. FYI guys, don't jump in blindly

1. Thursday, November 8th, 2007 (7:00 a.m. New York Time) UK
At 7:00 a.m. New York time we will have UK Interest Rate Statement coming out. It is expected that BOE will keep rates at the same level at 5.75%. If for some reasons they will cut the rate to 5.50%, I think GBP/USD may go down by as much as 120 pips or more in the first 30 minutes of the report. If they decide to keep the rate unchanged, then GBP/USD may or may not move so I do not recommend to trade it if the rate stays at the same level.
May the Pips be with You Let's Pimp some Pips!
  • #48,769
  • Nov 8, 2007 2:37am Nov 8, 2007 2:37am
let's see wheather this hourly can close above the pivot line..
  • #48,770
  • Nov 8, 2007 3:02am Nov 8, 2007 3:02am
Quoting karmostaji
My own targets for today are 238.30 and 239.30 , Today should be bull's day unless BOE cuts rate, then things might turn.
Things are looking good, 1st TP should reach before BOE announcement and if rates are unchanged, I expect more bulls to come in and possible new highs next week, but on the other hand if BOE cuts rates then lookout below.
Trade what you see, not what you think.
  • #48,771
  • Nov 8, 2007 3:03am Nov 8, 2007 3:03am
ae the momentum 1 hr turn bearish
  • #48,772
  • Nov 8, 2007 3:05am Nov 8, 2007 3:05am
Quoting Tiger Hunter
ae the momentum 1 hr turn bearish
yep retrace to 5sma
Trade what you see, not what you think.
  • #48,773
  • Nov 8, 2007 3:15am Nov 8, 2007 3:15am
http://www.bilder.forum24.dk/lustige-bilder/bulls.jpg
Trade what you see, not what you think.
  • #48,774
  • Nov 8, 2007 3:17am Nov 8, 2007 3:17am
I am not sure if this was posted earlier but if not. Just a little something to look out for with the DOW opening. Take it for what it is worth

Nov. 7 (Bloomberg) -- U.S. banks and brokers face as much as $100 billion of writedowns because of Level 3 accounting rules, in addition to the losses caused by the subprime credit slump, according to Royal Bank of Scotland Group Plc. The Financial Accounting Standards Board's rule 157 will make it harder for companies to avoid putting market prices on securities considered hardest to value, known as Level 3 assets, Royal Bank's chief credit strategist Bob Janjuah in London wrote in a note today. The new rule is effective Nov. 15. ``This credit crisis, when all is out, will see $250 billion to $500 billion of losses,'' Janjuah said. ``The heat is on and it is inevitable that more players will have to revalue at least a decent portion'' of assets they currently value using ``mark-to-make believe.'' Wall Street's biggest firms have written down at least $40 billion as prices of mortgage-related assets dwindle because of record foreclosures. Morgan Stanley, the second-biggest U.S. securities firm, has 251 percent of its equity in Level 3 assets, making it the most vulnerable to writedowns, followed by Goldman Sachs Group Inc. at 185 percent, according to Janjuah. Morgan Stanley fell $3.72, or 6.8 percent, to $50.79 at 1:15 p.m. in New York. The New York-based bank is down 23 percent this month. New York-based Goldman Sachs dropped 3.97 percent to $214.29. Morgan Stanley may write down $6 billion of assets, David Trone, an analyst at Fox-Pitt Kelton Cochran Caronia Waller, said yesterday. Merrill is Healthiest Citigroup Inc., which this week said losses from subprime assets may be $11 billion, has 105 percent of its equity in Level 3 assets, Janjuah wrote. The New York-based bank fell 2.51 percent to $34.20, a four-and-a-half year low. Merrill Lynch & Co., which wrote down $8.4 billion of subprime mortgage debt and other debt securities, has Level 3 assets equal to 38 percent of its equity ``and may well come out of all of this in the best health,'' Janjuah said. Merrill lost 4.36 percent at $53.91. ``If you look at the writedowns just at Citi and Merrill already it's about $20 billion, so $100 billion may be on the conservative side globally,'' said Sajiv Vaid, who manages the equivalent of about $10.5 billion of corporate debt at Royal London Asset Management in London, a unit of the U.K.'s biggest customer-owned insurer. The losses are likely to hurt shareholders more than bondholders because the banks may be forced to sell stock to raise additional capital, Vaid said. `Unobservable' Inputs Under FASB terminology, Level 1 means mark-to-market, where an asset's worth is based on a real price. Level 2 is mark-to- model, an estimate based on observable inputs and used when there aren't any quoted prices available. Level 3 values are based on ``unobservable'' inputs reflecting companies' ``own assumptions'' about the way assets would be priced. ABX indexes, which investors use to track the subprime-bond market, are showing ``observable levels'' that would wipe out institutions' capital if the benchmark's prices were used to value their Level 3 assets, according to Janjuah. The indexes have tumbled this year because investors expected rising numbers of borrowers to default on home loans, cutting the cash flowing to the bonds that package the mortgages. Lehman Brothers Holdings Inc. has the equivalent of 159 percent of its equity in Level 3 assets, and Bear Stearns Cos. has 154 percent, according to Janjuah's note, called ``Bob's World: Feast and Famine.''
  • #48,775
  • Nov 8, 2007 3:18am Nov 8, 2007 3:18am
Quote
That is a very good question. There is no doubt that there are large reserves in the tar sands of venezuela and canada, and there is likely a good bit of oil left in alaska. However, these resources will do nothing but slightly flatten the downward curve of global oil production.
Sorry for the delay, fell asleep, thanks for your in depth summary!
  • #48,776
  • Nov 8, 2007 3:27am Nov 8, 2007 3:27am
BULL BULL !!!

239 here we come!
  • #48,777
  • Nov 8, 2007 3:28am Nov 8, 2007 3:28am
Quoting GJtrader
It all depends on the BOE decision.
50,50 chances.

let's see but I still expect a retest of 235.4 later.
It will stay at 5.75 - Brown is too scared to do anything else right now. If we drop it then the pound will drop too - we can live with expensive exports for a while. He also doesnt want people going crazeee over xmas with their cash, there is already enough of a debt problem here in the UK and he doesnt want to fuel it. He may wait until Jan or even Feb for a cut - does depend on those idiotic Yanks yanks though. You can always rely on them to screw everyone.

Never mind, they will be a third world country soon enough !

  • #48,778
  • Nov 8, 2007 3:31am Nov 8, 2007 3:31am
Quoting karmostaji
Things are looking good, 1st TP should reach before BOE announcement and if rates are unchanged, I expect more bulls to come in and possible new highs next week, but on the other hand if BOE cuts rates then lookout below.
is ure first tp of 238.30 from the 50% fib level on the 4h chart?
  • #48,779
  • Nov 8, 2007 3:32am Nov 8, 2007 3:32am
Quoting DaddyWarbuck
is ure first tp of 238.30 from the 50% fib level on the 4h chart?
It's the daily 5sma and the weekly pivot.
Trade what you see, not what you think.
  • #48,780
  • Nov 8, 2007 3:38am Nov 8, 2007 3:38am
Quoting musicman007
Never mind, they will be a third world country soon enough !
I hear ya! We'll be following the UK all the way!
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