GBPJPY scalpers

I'd need a permanent pacemaker installed

This may trend pretty tight till the USD news at 0815 EST

Just my 2 cents

Would you mind explaining the logic behind why that chart pattern was bearish, if the next candle closed below 201.6 ?

For the life of me I couldn't see it,
Cheers,

I use the red line as my indi now. weill only short after a 1h bar closed below that line or else just watch ( dare not to long ) this is coz that line have been a good rez/sup for past weeks

Sorry bro, i know too little abt pattern. i thought is a bearish pattern as why 201.6 coz i see good rez/sup in there

Ok Thanks,
that makes sense, if the candle had closed below 201.6 it would have been a rejection of the high of the preceeding candle. I just couldn't see how the pattern factored in, although it looked pretty, with some kind of symetry like it should be important . I agree with the 201.6 being a good level to watch. As is 200.8, any hourly candle closing below those would make me a happy short
Good Trading

Oh abt the pattern i didnt draw by hand. its a MT4 pattern recognition indi.

Just a point to make...there are folks talking everywhere about how we have headed off the "downturn" (read recession here), but these are the same dingbats who kept telling us that oil would retrace to $80 a barrel and hold there.

Check the price of oil. Anyone see $80 recently? NOPE

I work for a very smart man who makes a fortune advising Fortune 500 companies on commodity prices and he has been right on for the last 5 years. He says the commodity inflation we are seeing will NOT ease for at least 3 more years. Put that in your smoke and pipe it.

The down turn cannot be over. Mortgage help or not....the people in trouble with their mortgages cannot handle a fixed rate payment, which in why they went interest only and APR loans. The USD will rebound over the course of the year (2008) but only because the bad stuff with other countries is going to be hitting the fan. It will be their turn to take the beating (read Euro here)

Have fun, but the recession is not over.

Look like JPY got sold everywhere... 203 coming ?
comment any1 ?

CCI Bat

how can you see something in your charts?

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price indicator
yesterday was -201.57
today -202.53
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+100pips

it's easy

Good morning

This morning Bernanke's speech starts at 6:30 pst. This is liekly going to be his most important speech since he started.

The news yesterday was all bad , the only reason the markets rallied so hard was that investors were speculating that the credit crunch was over.

Today's speech will be a market mover for sure.

Right now we are sitting on 78.6% fib expansion at 202.35. A drop under this and I am short into 200.8

Does anyone have ZUP indicator?pls post here.thanks

Malcom, Trying to match your fib lines. Can't seem to match? Where are your two settings-hi-lo/dates??

How Does A Market Move Up 400 Points On Bad News?

Rally caps were out in force yesterday with the Dow moving up almost 400 points. How and why it did that in a day of predominantly bad news is hard to fathom. The FT mentioned that much of it was short covering. The pink-colored paper noted "bankers and analysts cautioned that the rally could also reflect the large number of hedge funds and other investors who had bet that prices would go down and were retreating from short positions" But that is an inadequate explanation for such a big surge
The list of negative data posted as the day went on was a shaking of the foundations of the US economy. It has been a very long time since car sales fell 18% at the nation's largest auto company, GM (GM). The head of sales at Ford (F) said that company expected the second quarter to be worse than the first.
For some reason, Wall St. saw the fact that Lehman (LEH) raised $4 billion as good news. It is not. The notion that a major investment bank had to go into the market for that kind of capital can only be viewed well in light of the fact that it got any money at all. When a major US financial companies have to raise one cent, the storm flags are out.
Notable as well, Reuters reports spreads on junk bonds, or corporate debt rated below "Baa3" by Moody's Investors Service and "triple-B-minus" by Standard & Poor's are at 821 basis points over comparable Treasuries -- or levels not seen since December 2002, according to Merrill. To put that in English, the smart money is betting that things will get worse and companies which have mediocre balance sheets will be hit with defaults over the next several months.
Cash continues to move into 10-year Treasuries, a safe-haven for big institutional investors who don't like the look of the equity and bond markets. Those firms could miss out on a big rally, but they don't think so.
At base, the market has to believe that most of the subprime problems which kicked-off all the trouble are coming to an end. That projection is for suckers. Nationwide, 1.5 million subprime adjustable-rate mortgages will reset to higher interest rates this year - with May and June being peak months, according to CNN Money. Congress will move at its own glacier-like pace and will miss any window that might save the poor souls who own these homes.
The optimism in traders in never ending. It is how they make their living. For them, trading the market up is like breathing But, they ought to read the newspapers.
Douglas A. McIntyre

March 16th , March 18th high , march 20th low , 60 min chart

Here is the link for the free download and instructions on how to use...

Best Regards,
Dave

Link removed so I don't get penalized. Google the indicator and you will learn how to use it.

Naatha, can you explain the correlation of the DJIA mini's to the GJ pair and how you use them? Thanks in advance.

Best Regards,
Dave

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OK
http://www2.barchart.com/ifutpage.asp?sym=YM&code=BSTK