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

  • #50,661
  • Nov 16, 2007 8:20am Nov 16, 2007 8:20am
Quoting markam
It is a bad numbers, since we need a lot, lot, lot, lot, lot, lot more than that each month. However, it doesn't show total collapse, so that it good.
I know foreign purchases of US securities better @ $55 billion and greater but considering prior was $-70 billion that's great! Number weak but could have been worst. I think enough to hold USD/JPY up for now. . .

What do you think?
  • #50,662
  • Nov 16, 2007 8:20am Nov 16, 2007 8:20am
Quoting comeinvest
So does that means, bear is slowly coming back in action?
With the industrial production number, I would think the only direction we will be seeing is down.
  • #50,663
  • Nov 16, 2007 8:21am Nov 16, 2007 8:21am
Quoting comeinvest
Thanks, for your info as well... the 4 and 8 hours MOM also very bearish...
I'm short @ 226.60 with SL @ BE
No prob, bro
Do not follow my trades. Trade what you see on your own charts.
  • #50,664
  • Nov 16, 2007 8:24am Nov 16, 2007 8:24am
Quoting markam
With the industrial production number, I would think the only direction we will be seeing is down.
Yep, and if more chatter comes across the wires, down even more
Patience + Humility + Study = Success
  • #50,665
  • Nov 16, 2007 8:27am Nov 16, 2007 8:27am
I'm not here to spoil the party, but with longer term price action.... we have double bottom with strong support at 224.30. Furthermore we have 4 hour divergence in action with strong 12 hours bullish MOM. So for now, it's a bit confused now....
  • #50,666
  • Nov 16, 2007 8:30am Nov 16, 2007 8:30am
Quoting comeinvest
I'm not here to spoil the party, but with longer term price action.... we have double bottom with strong support at 224.30. Furthermore we have 4 hour divergence in action with strong 12 hours bullish MOM. So for now, it's a bit confused now....
I agree we aren't going to set a new low before market close. I do expect a negative day in the stock markets.
  • #50,667
  • Nov 16, 2007 8:52am Nov 16, 2007 8:52am
I think ...it will test 219.69 soon...next weeks
  • #50,668
  • Nov 16, 2007 9:04am Nov 16, 2007 9:04am
Stock market is dropping nicely. There is a possibility of a dow close below 13000.
  • #50,669
  • Nov 16, 2007 9:04am Nov 16, 2007 9:04am
Markam do you think this thing is going to reach 228 anytime today I am long at 226
  • #50,670
  • Nov 16, 2007 9:05am Nov 16, 2007 9:05am
Quoting markam
Stock market is dropping nicely. There is a possibility of a dow close below 13000.
Markam,

Also watch 1450 in the NASDAQ
Patience + Humility + Study = Success
  • #50,671
  • Nov 16, 2007 9:07am Nov 16, 2007 9:07am
Quoting vinesh2
Markam do you think this thing is going to reach 228 anytime today I am long at 226
No
  • #50,672
  • Nov 16, 2007 9:11am Nov 16, 2007 9:11am
Quoting comeinvest
Thanks, for your info as well... the 4 and 8 hours MOM also very bearish...
hello comeinvest..can u please show me how to add 8hr & 12hr period in MT4..have been trying but failed...thanks in advance..
  • #50,673
  • Nov 16, 2007 9:11am Nov 16, 2007 9:11am
Quoting markam
No

We could test the day low of 223.92
Patience + Humility + Study = Success
  • #50,674
  • Edited 9:44am Nov 16, 2007 9:17am | Edited 9:44am
Quoting comeinvest
I'm not here to spoil the party, but with longer term price action.... we have double bottom with strong support at 224.30. Furthermore we have 4 hour divergence in action with strong 12 hours bullish MOM. So for now, it's a bit confused now....
I agree,

Right now it seems to be testing support @ the 4hr pivot point @ 225.75. A strong break below sees a re-visit of 224.75. If it holds we may see a run toward 227.50 by the end of the NY session depending on DOW today. I expect the later. . .

UJ is well supported above 110.00 and will move higher next week. GU is well supported above 2.0400 (right now) and is due for a move back up.

Unless we get more bad news today I see this one ending on the upside with potential to move higher next week. . .

Lets see how this one plays out in later session.
  • #50,675
  • Edited 9:20am Nov 16, 2007 9:19am | Edited 9:20am
Quoting DutchTrader
We could test the day low of 223.92
Possible, and most likely. Maybe this will get Wall Street Selling

Fed's Kroszner Says `Rough Patch' Won't Warrant Cuts (Update2)

http://www.bloomberg.com/apps/news?p...lA4&refer=home

Also,

U.S. Stocks Drop for Third Day; FedEx, Starbucks, Fannie Tumble

http://www.bloomberg.com/apps/news?p...o6U&refer=home
Humble Lifetime Member
  • #50,676
  • Nov 16, 2007 9:21am Nov 16, 2007 9:21am
Quoting DutchTrader
We could test the day low of 223.92
if we do test, probably not until after 1pm est, IMO. i think we may see 227.40 area (38.2% fib of move down from 232.40) to 227.60 area (100 sma) because the last 4 hr candle was so bullish., IMO
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,677
  • Nov 16, 2007 9:29am Nov 16, 2007 9:29am
Quoting moneymagnet
if we do test, probably not until after 1pm est, IMO. i think we may see 227.40 area (38.2% fib of move down from 232.40) to 227.60 area (100 sma) because the last 4 hr candle was so bullish., IMO
Agreed!
  • #50,678
  • Nov 16, 2007 9:58am Nov 16, 2007 9:58am
Quoting moneymagnet
if we do test, probably not until after 1pm est, IMO. i think we may see 227.40 area (38.2% fib of move down from 232.40) to 227.60 area (100 sma) because the last 4 hr candle was so bullish., IMO
Closed my short, now I am long from 226.00 to 227.4 or higher (trailing+SL @ BE)
Agreed. We will retrace to 38.2%, however GJ likes to get 50% or even 62.8%. Time will show...
Do not follow my trades. Trade what you see on your own charts.
  • #50,679
  • Nov 16, 2007 10:01am Nov 16, 2007 10:01am
Quoting igmak
Closed my short, now I am long from 226.00 to 227.4 or higher (trailing+SL @ BE)
Agreed. We will retrace to 38.2%, however GJ likes to get 50% or even 62.8%. Time will show...
any other day except friday i would target 50% bcuz your right it loves that 50% area (learned that from Karm)
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #50,680
  • Nov 16, 2007 10:02am Nov 16, 2007 10:02am
New 4 HR opened just above 5SMA High. I am targeting 227.90 area as there is a 25EMA resistence there. Anyone with me on this prediction
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