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

  • #71,461
  • Apr 1, 2008 12:56pm Apr 1, 2008 12:56pm
Dow is beginning to look sexy. Lets see how it closes this hour.
Patience + Discipline - Greed = Success
  • #71,462
  • Apr 1, 2008 12:58pm Apr 1, 2008 12:58pm
Quoting GodfreyH
A double top to the pip. 201.65. The hour isn't complete yet though and it would have been nice to see divergence on the RSI, anyhow IF the next hr bar is a reversal bar I will short it.
you are right . four reason for good reversal :
1- bearish pattern
2- strong resistance
3- over bought
4- as you mentioned double top
regards
  • #71,463
  • Apr 1, 2008 1:08pm Apr 1, 2008 1:08pm
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ps read the title of the post.
and always read fine print.
Patience + Discipline - Greed = Success
  • #71,464
  • Apr 1, 2008 1:22pm Apr 1, 2008 1:22pm
Quoting pkimnyc
perhaps this is the reason?
http://biz.yahoo.com/ap/080401/wall_street.html
Thanks! Certainly, along w technicals, could explain today. Maybe I am too jaded, or believe in conspiracy theories too often, but we have had a very tough time putting 2 positive sessions together.

Wallstreet has been ruled by traders lately, which can be great for us, but that means they may take the DOW down 100-200pts tomorrow. Especially if Infinity's non-farm doesn't surprise us to the upside. S&P has been better for me to gauge JPY.
  • #71,465
  • Apr 1, 2008 1:28pm Apr 1, 2008 1:28pm
Quoting bigslice54
Thanks! Certainly, along w technicals, could explain today. Maybe I am too jaded, or believe in conspiracy theories too often, but we have had a very tough time putting 2 positive sessions together.

Wallstreet has been ruled by traders lately, which can be great for us, but that means they may take the DOW down 100-200pts tomorrow. Especially if Infinity's non-farm doesn't surprise us to the upside. S&P has been better for me to gauge JPY.
I won't be surprised if the number is better than expected. But it is EXPECTED to be bad thus I think the rumour will be sold until the actual release. If it is a good number the strong uptrend will continue I think.

Bless
Patience + Discipline - Greed = Success
  • #71,466
  • Apr 1, 2008 1:29pm Apr 1, 2008 1:29pm
Quoting bigslice54
Thanks! Certainly, along w technicals, could explain today. Maybe I am too jaded, or believe in conspiracy theories too often, but we have had a very tough time putting 2 positive sessions together.

Wallstreet has been ruled by traders lately, which can be great for us, but that means they may take the DOW down 100-200pts tomorrow. Especially if Infinity's non-farm doesn't surprise us to the upside. S&P has been better for me to gauge JPY.
  • #71,467
  • Apr 1, 2008 1:38pm Apr 1, 2008 1:38pm
Dow is on a burst.
Patience + Discipline - Greed = Success
  • #71,468
  • Apr 1, 2008 1:43pm Apr 1, 2008 1:43pm
wow, this bull run is stong.
  • #71,469
  • Apr 1, 2008 1:47pm Apr 1, 2008 1:47pm
Quoting Infinity
Dow is on a burst.
DOW +362 & GJ cannot break consolidation even though UJ has. Underlying UK weakness maybe??

Still looking for a break out reason
  • #71,470
  • Apr 1, 2008 2:22pm Apr 1, 2008 2:22pm
Quoting bigslice54
DOW +362 & GJ cannot break consolidation even though UJ has. Underlying UK weakness maybe??

Still looking for a break out reason
According to malcomb14:

"This move is purely news driven. You got to wonder why UBS is not allowing short selling of their stock .. that would not be an issue of the news was really great news as the markets seem to think it is."

I like his analysis. hope he doesn't mind me quoting his words.
  • #71,471
  • Apr 1, 2008 2:58pm Apr 1, 2008 2:58pm
only the first one is a real reason. All depend on U/J.

Quoting danryman78
you are right . four reason for good reversal :
1- bearish pattern
2- strong resistance
3- over bought
4- as you mentioned double top
regards
  • #71,472
  • Apr 1, 2008 3:48pm Apr 1, 2008 3:48pm
I am looking at 3 MAs meeting up at the 199.02-199.16 area. I am thinking it may go to that area first before going up. I am also seeing that 50% of today's move is near that area as well @ around 199.30ish. Also, the fact that 201.66 held firm even with all the strong upmoves elsewhere. I am thinking that it needs to retrace in order to gain momemtum for a further push up.

Still holding from 201.3 stop 201.9. My target is now 200.3.

Anyone else still holding?
Patience + Discipline - Greed = Success
  • #71,473
  • Apr 1, 2008 3:51pm Apr 1, 2008 3:51pm
Quoting Infinity
I am looking at 3 MAs meeting up at the 199.02-199.16 area. I am thinking it may go to that area first before going up. I am also seeing that 50% of today's move is near that area as well @ around 199.30ish. Also, the fact that 201.66 held firm even with all the strong upmoves elsewhere. I am thinking that it needs to retrace in order to gain momemtum for a further push up.

Still holding from 201.3 stop 201.9. My target is now 200.3.

Anyone else still holding?
yeah...still holding from 197
  • #71,474
  • Apr 1, 2008 3:54pm Apr 1, 2008 3:54pm
Quoting Küster
yeah...still holding from 197
no stop loss?
Patience + Discipline - Greed = Success
  • #71,475
  • Apr 1, 2008 3:56pm Apr 1, 2008 3:56pm
no...hedged at 192.9, but long closed at 201.5...i'm mad...
  • #71,476
  • Apr 1, 2008 4:09pm Apr 1, 2008 4:09pm
i think after NY closed we see first 199.9 , and last 4 hr bar single for short .. what u see ?
Never trouble trouble till trouble troubles you
  • #71,477
  • Apr 1, 2008 4:10pm Apr 1, 2008 4:10pm
Quoting Küster
no...hedged at 192.9, but long closed at 201.5...i'm mad...
Good luck with that man. Bulls look strong right now though. Depending on the data tomorrow and later in the week, upward movement could continue. I expect a retrace first though as I stated. This thing may also find it's way back down there later this week or next depending on the data but anything is possible.

Bless
Patience + Discipline - Greed = Success
  • #71,478
  • Apr 1, 2008 4:13pm Apr 1, 2008 4:13pm
Thanks...But i'm not expecting it to go back to 197-196ish, just arround 199, 199.3 would be fine...I'm targeting todays 50%.
  • #71,479
  • Apr 1, 2008 4:14pm Apr 1, 2008 4:14pm
Flag on 30m gbp/jpy. Strong resistance at 201.65 area. Be careful as this could go both ways.
Attached Image (click to enlarge)
Click to Enlarge Name: flag30m.gif Size: 12 KB
Measure twice, cut once
  • #71,480
  • Apr 1, 2008 4:36pm Apr 1, 2008 4:36pm
I think we could see 196 again soon.
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