Pretty quiet around town. Whats going on people. Whats the deal with GJ today? Any opinions on price action. I see that price reached my prediction of 217 area. I did't trade it but some pips. Whats up Q whats going on
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #57,782
- Jan 8, 2008 10:00am Jan 8, 2008 10:00am
- | Joined Nov 2006 | Status: Seeking Light | 1,059 Posts
Thanks. I think we may see something higher up as well, but since this thing loves to trade off trendlines, I thought we should see some pressure on approach to that line, (weekly pivot also around that area) and I suppose we did and I just missed it.
- #57,783
- Jan 8, 2008 10:08am Jan 8, 2008 10:08am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Pretty quiet around town. Whats going on people. Whats the deal with GJ today? Any opinions on price action. I see that price reached my prediction of 217 area. I did't trade it but some pips. Whats up Q whats going on
, Lots of activity today on the thread, now many are just catching the pips from all the good analysis from earlier. . .
As for price action, price could be headed back up to 216.65/75 possibly higher to the second target of 217.64, possibly 218.27 hopefully later today. . .
Stay tuned!
- #57,791
- Edited 11:26am Jan 8, 2008 11:15am | Edited 11:26am
- Joined Oct 2007 | Status: Trader | 5,510 Posts
- #57,793
- Jan 8, 2008 11:52am Jan 8, 2008 11:52am
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"
- #57,797
- Jan 8, 2008 12:17pm Jan 8, 2008 12:17pm
Countrywide came out to deny rumors it is looking to file for Chapter 11 Bankruptcy Protection = Dow rallies up 60+ points and is now in the green....
- #57,798
- Jan 8, 2008 12:17pm Jan 8, 2008 12:17pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
According to news on my trading desk, there is a rumour that a large US mortgage lender will file for bankruptcy this week. Supposedly this spooked the financials and thats why stocks are off or DOW is down!
I would take this with a grain of salt for now. . .
I think what we saw was profit taking and bad news that is old news. The financial market knows that the housing market is in a slump so this news should already be priced in. However the problem we're seeing is everyone is short the dollar hoping for the big crash but there is no one to buy????? Thats why we haven't seen a bigger sell-off than what we've seen.
Now the market has to create buyers to make the dollar attractive again. They'll do this by rumours, semi-good news, hocus-pocus, whatever to get people to buy so others can unload. . .
Watch GJ back up to 216.75 and higher by the end of the NY session or later today on some rumour BS that Fed will cut rates before Jan 30th or soemthing to that effect lol!
pm me regarding AJ, I don't want to clog up the thread with those type of post.
- #57,799
- Jan 8, 2008 12:21pm Jan 8, 2008 12:21pm
- Joined Apr 2007 | Status: "As Above So Below" | 6,206 Posts
"Millionaires don't use astrology, billionaires do"