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

  • #49,301
  • Nov 9, 2007 8:51am Nov 9, 2007 8:51am
I think the elevator his hit the bottom floor. The SPX max pain is 1525 and it double-bottomed at 1450, so I think it will rise for the next week. We all know how GBPJPY follows the SPX during the US forex trading period...
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  • #49,302
  • Nov 9, 2007 8:52am Nov 9, 2007 8:52am
Quoting emda
I have S3 at 231.50.....
maybe a good position to go long.... but the market is crazy now....
who knows...
231.5 is my target but it could go lower. I am expecting a fairly big bounce back up from that area. Could even go to 230.5.
  • #49,303
  • Nov 9, 2007 8:55am Nov 9, 2007 8:55am
[quote=markam;1708139]Did anyone notice this?

I did... and I also have a few accounts with them
  • #49,304
  • Nov 9, 2007 8:56am Nov 9, 2007 8:56am
Quoting Zoran
231.5 is my target but it could go lower. I am expecting a fairly big bounce back up from that area. Could even go to 230.5.
231.50 area is weekly gann.
the bounce from 231-231.50 is very possible.
  • #49,305
  • Nov 9, 2007 8:57am Nov 9, 2007 8:57am
I think the house of cards is really starting to fall apart.

S&P Says State Street CDO Liquidates; Ratings Slashed

http://www.bloomberg.com/apps/news?p...ndE&refer=bond

Standard & Poor's said a collateralized debt obligation managed by State Street Corp. began liquidating its assets, prompting the ratings firm to slice the investment vehicle's ratings as much as 18 levels. The ratings on the most senior class of Carina CDO Ltd. were lowered to BB, two levels below investment grade, from AAA, while another AAA class was slashed 18 steps to CCC-. The chance of material losses to noteholders is high, New York-based S&P said.
Carina is the first CDO to begin unwinding after a slump in the credit worthiness of the underlying assets, S&P said. Thirteen others have informed S&P of an event of default, a precursor to liquidation.
  • #49,306
  • Nov 9, 2007 8:57am Nov 9, 2007 8:57am
Quoting emda
I have S3 at 231.50.....
maybe a good position to go long.... but the market is crazy now....
who knows...

emda, I've got my support at 231.77 and resistance 233.24. as you say the market is crazy and it looks like we'll see trading in this range most of the day. If it breaks through resistance then downwards to at least 230.50. Most of my indicators are still pointing downward.
  • #49,307
  • Nov 9, 2007 8:57am Nov 9, 2007 8:57am
Quoting Zoran
231.5 is my target but it could go lower. I am expecting a fairly big bounce back up from that area. Could even go to 230.5.
Are you expecting a bounce because of the weekly GANN at that level?
  • #49,308
  • Nov 9, 2007 8:58am Nov 9, 2007 8:58am
EXACTLY my thoughts!
november 16th is a very important date (if anyone is using Gann techniques, then you know what i am talking about); another one is december 16th, and the next one is january 1st - give or take 1-2 days for each date.
as for the direction of the move, i also favor downside. probably 196 area... maybe less. we'll see.

Quoting gene22
You can scroll and find the charts that I posted, you'll see why I was saying certain things, 231.50 is IT fo this week, 232 is more likely, but as is, the price had reached it's objectives and will retrace. I haven't been bying for a while now, since the 30th of October, I only sell, lock in profits and sell more. The price should retrace all next week, how high, maybe it will even decide to touch 240, that will make me extra happy. But at present I KNOW that the price will fall, untill the 26th that's the big day, I can only speculate to what level the price will rise, I don't care as it is not important to spent so much time on a retrace, just identify the major comfortable levels and time points. Watch out for the 16th, I might be off by 1 day. Could be 15th or 19th for the main fall. So far though I've been deadly accurate, just follow the analyses. I post at the beginning of the week.
Happy trading, time for a lottttttt of VODKA overthe weekend, and some analyses on Sunday, lol it's not everyday that this type of volatility comes along. You go to pay your respects.
Nihil Sine Deo.
  • #49,309
  • Nov 9, 2007 8:59am Nov 9, 2007 8:59am
230.50 is coming imo
  • #49,310
  • Nov 9, 2007 9:00am Nov 9, 2007 9:00am
Quoting rodders
Are you expecting a bounce because of the weekly GANN at that level?
what?????
daily GANN was crossed before.
  • #49,311
  • Nov 9, 2007 9:00am Nov 9, 2007 9:00am
Quoting cesare76fx
Thanks! I like your signature

Thanks....all that we American's can do at this point is laugh at our pathetic political situation..."Clowns to the left of me, Jokers to the right"!!!
  • #49,312
  • Nov 9, 2007 9:03am Nov 9, 2007 9:03am
Quoting my2buoys
GM,

Just a quick post here to help you understand Momentum a bit better. First, you should never use the Momentum indicator on one time frame alone to enter a trade unless you are just scalping for a few pips. Even then it could be hazardous. Second, 4H TFs vary from platform to platform and, therefore, some indicators which underlie price can be inconclusive or difficult to interpret. Third, Momentum always works. If it is pointing up on one TF and price goes down during that time period, check out what the Momentum on other TFs (higher and lower) was doing during that time. That is the most effective way to learn how to use the Momentum indicator. As Aus said above, since the Daily Momentum was pointing down from the beginning of the day, the overall bias for the day was down, or at the least, a big down thrust should have been expected at some point. The chart below is my current 4H which opened at 1200 GMT (7AM EST). Notice how bullish the Momentum is, and yet currently, halfway through the candle, we are looking at a doji. What happened? The strong bearish Daily is pushing down and the lower TFs have been flat to stagnant since 1200 GMT. This candle has already had an upthrust large enough to fulfill its bullishness, even if it doesn't end up being a good bullish candle. At this point, for the next two hours, I would watch the TFs underneath the 4H to see how their Momentums turn from candle to candle and look for opportunities there. If we get a strong Momentum 1H candle at 1500 GMT, that might be a good opportunity to try a long on a retracement since it would agree with the strong 4H Momentum. Study Momentum from the Larger TFs down and you will begin to catch on as to how it works.

M2B
That explained the MOM to me very well. Getting thru this hard head. I think all of us grasp these things in different ways so thank all of you (you know who you are) for your tireless support and explanations. Nikki
  • #49,313
  • Nov 9, 2007 9:04am Nov 9, 2007 9:04am
Too many negative reports, losses, fear today. We should see GY under 231.50 today and if my analysis on the fundamentals are correct, we might test august lows by the end of next week.
Humble Lifetime Member
  • #49,314
  • Nov 9, 2007 9:05am Nov 9, 2007 9:05am
Quoting Nostrathomas
Thanks....all that we American's can do at this point is laugh at our pathetic political situation..."Clowns to the left of me, Jokers to the right"!!!
  • #49,315
  • Nov 9, 2007 9:05am Nov 9, 2007 9:05am
13100 seems to be holding for now. It looks like the market either knew, or was expecting, that sentiment number.

My bet is that lots of people know beforehand.
  • #49,316
  • Nov 9, 2007 9:06am Nov 9, 2007 9:06am
234.06 looks like a good target for the resistance on the bounce. (the 38.2% fib level)
  • #49,317
  • Nov 9, 2007 9:07am Nov 9, 2007 9:07am
Quoting Nostrathomas
Thanks....all that we American's can do at this point is laugh at our pathetic political situation..."Clowns to the left of me, Jokers to the right"!!!
Or pray.

M2B
  • #49,318
  • Nov 9, 2007 9:08am Nov 9, 2007 9:08am
Quoting markam
Did anyone notice this?

Barclays Shares Temporarily Suspended After 9.1 Percent Plunge

http://www.bloomberg.com/apps/news?p...d=aqdsEY9MqcjE
Yeah bro, a few hours ago :
  • #49,319
  • Nov 9, 2007 9:11am Nov 9, 2007 9:11am
signal oanda
disconnected me.... maybe is time for a stop hunting and reversal
  • #49,320
  • Nov 9, 2007 9:11am Nov 9, 2007 9:11am
Wow, my currenex platform is 'disconnected'

Edit - Oanda too?! Looks like all these brokers are getting together.
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