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

  • #50,221
  • Nov 14, 2007 3:59pm Nov 14, 2007 3:59pm
Unless we get a convincing move by GU below 2.05, I think the bottom has been reached in GJ for now.
  • #50,222
  • Nov 14, 2007 4:01pm Nov 14, 2007 4:01pm
Quoting markam
That was nice of the market to do that spike down to 228 before 5pm so I could close my shorts and avoid paying interest.

sweet wasn't it. i had multiple positions for over 300 pips. felt it was a good point as well. but i do look to re-enter.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,223
  • Nov 14, 2007 4:05pm Nov 14, 2007 4:05pm
Quoting moneymagnet
sweet wasn't it. i had multiple positions for over 300 pips. felt it was a good point as well. but i do look to re-enter.
Be careful looking for shorts. 2.05 was a significant barrier for GU last month on the way up. I don't expect it to break tonight.

If it does, however, we could see a big move down in both GU and GJ.
  • #50,224
  • Nov 14, 2007 4:29pm Nov 14, 2007 4:29pm
Quoting markam
Be careful looking for shorts. 2.05 was a significant barrier for GU last month on the way up. I don't expect it to break tonight.

If it does, however, we could see a big move down in both GU and GJ.

thanks
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,225
  • Nov 14, 2007 4:39pm Nov 14, 2007 4:39pm
Quoting markam
Be careful looking for shorts. 2.05 was a significant barrier for GU last month on the way up. I don't expect it to break tonight.

If it does, however, we could see a big move down in both GU and GJ.
It's been moving below that line this past hour, but I would not trust it until you have at least an hourly candle closing well below that line. Remember, patience...
  • #50,226
  • Nov 14, 2007 4:46pm Nov 14, 2007 4:46pm
Quoting Zoran
Now I'm currently looking for a place to reverse this retracement and continue south to target. Target is currently 221 and I am thinking the retracement could go to 231.5. There seems to be quite a bit of resistance in that area. I wouldn't expect it to go much higher than 232.7. Expected reversal is somewhere within the orange shaded area.

Off to bed..
Update on the post above (posted yesterday).

http://www.forexfactory.com/showthre...98#post1713298

Looks like we have reversed within the expected orange shaded area and going as high as 232.39. I am now targeting 221.

There is a potential 1000+ pips from the reversal point. Strong support is sitting on 220.52 (purple line at the bottom). It could be a bumpy ride down.
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  • #50,227
  • Nov 14, 2007 4:50pm Nov 14, 2007 4:50pm
Quoting markam
Be careful looking for shorts. 2.05 was a significant barrier for GU last month on the way up. I don't expect it to break tonight.

If it does, however, we could see a big move down in both GU and GJ.
I'm expecting cable to hit the trendline currently sitting in the mid 2.03 area before seeing a potential reversal.
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  • #50,228
  • Nov 14, 2007 4:53pm Nov 14, 2007 4:53pm
Quoting Zoran
Update on the post above (posted yesterday).

http://www.forexfactory.com/showthre...98#post1713298

Looks like we have reversed within the expected orange shaded area and going as high as 232.39. I am now targeting 221.

There is a potential 1000+ pips from the reversal point. Strong support is sitting on 220.52 (purple line at the bottom). It could be a bumpy ride down.
Man, I would really like to see that happen Zoran, but Markam is right, cable is sitting on strong support right now and we might not have much down movement without a usd/jpy bear party, but without a doubt this 4hr bar will flip the gann line.

I am looking forward to Auslanco's momentum and 5sma analysis. I can't get my 5 sma's on the dailies to look right becuase I can't find broker that doesn't include sunday bars.
  • #50,229
  • Nov 14, 2007 5:00pm Nov 14, 2007 5:00pm
Alpari does not include sunday bars

Quoting lepiricus
Man, I would really like to see that happen Zoran, but Markam is right, cable is sitting on strong support right now and we might not have much down movement without a usd/jpy bear party, but without a doubt this 4hr bar will flip the gann line.

I am looking forward to Auslanco's momentum and 5sma analysis. I can't get my 5 sma's on the dailies to look right becuase I can't find broker that doesn't include sunday bars.
  • #50,230
  • Nov 14, 2007 5:05pm Nov 14, 2007 5:05pm
Quoting lepiricus
Man, I would really like to see that happen Zoran, but Markam is right, cable is sitting on strong support right now and we might not have much down movement without a usd/jpy bear party, but without a doubt this 4hr bar will flip the gann line.

I am looking forward to Auslanco's momentum and 5sma analysis. I can't get my 5 sma's on the dailies to look right becuase I can't find broker that doesn't include sunday bars.
We've already bounced off that support for 300+ pips. I assume it's cracked now and time for a break (soon). Grrr, paid triple interest today.
  • #50,231
  • Nov 14, 2007 5:11pm Nov 14, 2007 5:11pm
Quoting Zoran
We've already bounced off that support for 300+ pips. I assume it's cracked now and time for a break (soon). Grrr, paid triple interest today.
I thought it was supposed to retrace until the big drop on friday(16th)/monday?
  • #50,232
  • Nov 14, 2007 5:15pm Nov 14, 2007 5:15pm
Quoting DaddyWarbuck
I thought it was supposed to retrace until the big drop on friday(16th)/monday?
Who told you that?

That may be a reversal time-point to go long??
  • #50,233
  • Nov 14, 2007 5:15pm Nov 14, 2007 5:15pm
Quoting Zoran
I'm expecting cable to hit the trendline currently sitting in the mid 2.03 area before seeing a potential reversal.
y not the bottom trendline?
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,234
  • Nov 14, 2007 5:23pm Nov 14, 2007 5:23pm
Quoting moneymagnet
y not the bottom trendline?
I'm thinking the support areas will be hit around the same time for GJ, GU, etc... I don't think GU will have enough bears to go all the way to the bottom of the channel.
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  • #50,235
  • Nov 14, 2007 5:28pm Nov 14, 2007 5:28pm
Quoting Zoran
We've already bounced off that support for 300+ pips. I assume it's cracked now and time for a break (soon). Grrr, paid triple interest today.
That is a possibility. But look at the move over 2.05. It hit that level, bounced down 300 pips then came back to 2.05 where it sat for about 5 days. I just don't see a big break down, especially without some good dollar positive news.

I have my money where my mouth is. I figure this is a great place for a long, because you can have your stop right below 228.
  • #50,236
  • Nov 14, 2007 5:34pm Nov 14, 2007 5:34pm
Quoting markam
That is a possibility. But look at the move over 2.05. It hit that level, bounced down 300 pips then came back to 2.05 where it sat for about 5 days. I just don't see a big break down, especially without some good dollar positive news.

I have my money where my mouth is. I figure this is a great place for a long, because you can have your stop right below 228.
You may get another bounce from it but I don't expect it to be too big. I think it will break though, maybe London session tomorrow if not Asian.
  • #50,237
  • Nov 14, 2007 5:39pm Nov 14, 2007 5:39pm
Quoting Zoran
You may get another bounce from it but I don't expect it to be too big. I think it will break though, maybe London session tomorrow if not Asian.
I'm also expecting a break... this USD weakness has gone on for way too long now... we need to see 2.0200 and 220.00
  • #50,238
  • Nov 14, 2007 5:46pm Nov 14, 2007 5:46pm
This is unusual. Never heard of a money market fund actually dropping below a $1/share.

Mortgage Woes Damage a GE Bond Fund



http://online.barrons.com/article/SB...exclusives_top
  • #50,239
  • Nov 14, 2007 5:54pm Nov 14, 2007 5:54pm
Quoting Zoran
We've already bounced off that support for 300+ pips. I assume it's cracked now and time for a break (soon). Grrr, paid triple interest today.
I'm with you, still got my shorts open.
Humble Lifetime Member
  • #50,240
  • Edited 5:58pm Nov 14, 2007 5:58pm | Edited 5:58pm
Quoting markam
This is unusual. Never heard of a money market fund actually dropping below a $1/share.

Mortgage Woes Damage a GE Bond Fund



http://online.barrons.com/article/SB...exclusives_top
You need to read this:

A Fiscal ‘Tsunami’
The government's top watchdog warns of a coming catastrophe.

By Jeffrey Bartholet
Newsweek Web Exclusive
Updated: 12:12 PM ET Nov 14, 2007
David Walker can sound like a modern-day prophet of doom, warning about the gross irresponsibility of his countrymen and the disaster that awaits them if nothing is done. Put a scraggly beard on him, replace the neatly pressed suit with a tattered frock, and you could drop a coin in his cup and walk on by. But Walker is frighteningly sane. A former partner at Arthur Anderson LLP, he has been the comptroller general of the United States and head of the Government Accountability Office since he was appointed to a 15-year term in 1998. The GAO is a nonpartisan agency that investigates, on behalf of Congress, how the government is performing. It then issues thoroughly researched and often critical reviews. If the federal government is not spending taxpayers' money effectively, it's Walker's job to holler. He's hollering now—mainly about a severe fiscal crisis that will strike the United States as baby boomers reach retirement age. His fears are supported by economists from the left-leaning Brookings Institution and the conservative Heritage Foundation. NEWSWEEK's Jeffrey Bartholet spoke to Walker at his office in downtown Washington.

For the ful story: http://www.newsweek.com/id/70378
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