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

  • #51,001
  • Nov 20, 2007 2:33pm Nov 20, 2007 2:33pm
wedge forming on 4hr chart. Something gotta give soon.
  • #51,002
  • Nov 20, 2007 3:06pm Nov 20, 2007 3:06pm
Hi,
Thanks for the post,as you said Auslanco,every trader is greedy,you are damn right,all we need is just to be less greedy,which i have always try to be...

Hope to read more post from you soon...

Aloha,
Oladeji
  • #51,003
  • Nov 20, 2007 3:32pm Nov 20, 2007 3:32pm
Just drawing simple lines at S&R this thing is most likely heading down. With the dow getting its teeth kicked in this will probably head down to retest the lows during Asia or London. Cable and Euro need some sort of retrace also. 224 area is very strong support, so look for another bounce up from there.

I'll be taking a small short after triple interest is paid in about 30 minutes.

Stop at 229.00 TP at 224.80
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  • #51,004
  • Nov 20, 2007 3:32pm Nov 20, 2007 3:32pm
Quoting pip_designer
wedge forming on 4hr chart. Something gotta give soon.
I would suggest more like a triple bottom or an inverted H&S with a bull flag at the end of the price chart - should go up to 232 soon
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  • #51,005
  • Nov 20, 2007 3:49pm Nov 20, 2007 3:49pm
Quoting Mr. G.
I would suggest more like a triple bottom or an inverted H&S with a bull flag at the end of the price chart - should go up to 232 soon

You could be right. I've just started reading from the beginning and still trying to learn. Thank you for. your help
  • #51,006
  • Nov 20, 2007 4:02pm Nov 20, 2007 4:02pm
Quoting lepiricus
Just drawing simple lines at S&R this thing is most likely heading down. With the dow getting its teeth kicked in this will probably head down to retest the lows during Asia or London. Cable and Euro need some sort of retrace also. 224 area is very strong support, so look for another bounce up from there.

I'll be taking a small short after triple interest is paid in about 30 minutes.

Stop at 229.00 TP at 224.80
Ludicrous Lepiricus,

How can you say that with a big 4hr. bouncing pip arrow pointing up on your chart?
  • #51,007
  • Nov 20, 2007 4:04pm Nov 20, 2007 4:04pm
Quoting Poocher
Ludicrous Lepiricus,

How can you say that with a big 4hr. bouncing pip arrow pointing up on your chart?
I also forgot its not wednesday and no triple interest
  • #51,008
  • Nov 20, 2007 4:14pm Nov 20, 2007 4:14pm
Quoting lepiricus
I also forgot its not wednesday and no triple interest
Dear sir,
I paid more attention to u now,i think maybe in two days,100SMA 224 will be break,and close belwo 220 this week,
How'syour idea
Ele
  • #51,009
  • Nov 20, 2007 4:34pm Nov 20, 2007 4:34pm
GUYS,

U av been talking about short arent u seeing what i'm seeing.

the candle just bounce of 50MA of 15 TF, and even 30, 1hr, 4hr, seems
bbullish.
Attached Image (click to enlarge)
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The pips is trending for you to catch, just catch it wisely.....
  • #51,010
  • Nov 20, 2007 5:28pm Nov 20, 2007 5:28pm
its now ranging, not deciding where to go, up or down.

catch ya all at london opens...
The pips is trending for you to catch, just catch it wisely.....
  • #51,011
  • Nov 20, 2007 5:47pm Nov 20, 2007 5:47pm
Quoting olacurrency
its now ranging, not deciding where to go, up or down.

catch ya all at london opens...
Also it just bounced off daily pivot - good sign.
  • #51,012
  • Nov 20, 2007 6:45pm Nov 20, 2007 6:45pm
Just prety buls flag . loo I see today maybe till tomorow 230.0
  • #51,013
  • Nov 20, 2007 6:46pm Nov 20, 2007 6:46pm
maybe 233.xx
  • #51,014
  • Nov 20, 2007 6:54pm Nov 20, 2007 6:54pm
Dovish BOE meeting minutes expected, it might not reach 230++ today.
  • #51,015
  • Nov 20, 2007 7:22pm Nov 20, 2007 7:22pm
Karmo, what are you thoughts about the price ranging right now? Would I be wrong if I said that it would drop down to 224.50 and then bounce back up
  • #51,016
  • Nov 20, 2007 8:22pm Nov 20, 2007 8:22pm
Quoting Zoran
I've had a look at the 224 level in greater detail and I can see that it has some historical significance. It seems that price prefers to sit on the 224 level and then occasionally dip below to bounce off 221/220. Also, it goes up to about the low/mid 228 area before bouncing back.

So at the moment we may be ranging between these levels (and perhaps for a long time to come!). It's similar to what we are seeing now but it has lasted a year in the past. Due to the interest differential, I'm still aiming to reverse long and hold at 221/220.
Yeah I noticed the same thing... and it was followed by an enormous 6000-7000 pip climb up... then went back to the range after falling 6000-7000 pips. Then once again there was a huge movement (the 1992 crash) of 10000pips

So what's the point... well if we do see a repeat of this we can expect some very slow movement period lasting for about a year followed by some very volatile periods

but...I'm almost 100% positive it won't happen like that.. we have a totally different setup this time around
  • #51,017
  • Nov 20, 2007 8:23pm Nov 20, 2007 8:23pm
Does the BOE rate cut ease the UK credit crisis. Please advice. Thannks
  • #51,018
  • Nov 20, 2007 8:47pm Nov 20, 2007 8:47pm
Quoting comeinvest
Does the BOE rate cut ease the UK credit crisis. Please advice. Thannks
A rate cut will certainly not hurt the credit situation in UK, and may help to some degree. Potential cut from BOE is really more about the downside risk to economice growth. BOE has already cut its 2008 forecast for growth and the minutes released tomorrow morning (EST) will tell us what the actual vote count was on keeping intrest rates unchanged. A 6-3 vote (3 to cut) will probably spark some down side to GJ. A 5-4 vote (4 to cut) will definetly get things moving to the downside---somewhere near the 224 area. GJ already looking for a reason to go down--Nikkei is -196 but GJ has not follwed very much because of the BOE minutes yet to come. Please be advised that the biggest risk here is to the downside---a 7-2 vote will not spark much upside intrest because that is what the vote was last time.
  • #51,019
  • Nov 20, 2007 8:59pm Nov 20, 2007 8:59pm
Quoting comeinvest
Does the BOE rate cut ease the UK credit crisis. Please advice. Thannks
The term 'plaster over cancer' springs to mind. I don't think the crisis can be resolved so easily, or else it wouldn't be much of a crisis would it? The problem in the UK is that for the last 40 plus years, much of the growth in the UK economy (and most of the West) has been fueled by loans/borrowing. If this lending decreases (as we might expect following recent events in the banking industry), so will consumption, investment etc.. If the BoE reduces rates it may have a temporary positive effect on these factors but the fundamental underlying issues will remain. Retailers have faired poorly this year in the UK, I expect they'll be next to turn out some more poor figures and stocks will nosedive further, taking GBP with it.
  • #51,020
  • Nov 20, 2007 9:10pm Nov 20, 2007 9:10pm
Thanks Fx-Petra and birdt for giving a good insight of the news.
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