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

  • #72,381
  • Apr 8, 2008 10:27am Apr 8, 2008 10:27am
Quoting quecee5
Bro we are exactly on the same page. . .
Love your charts and I'm starting to get the hang of mom's - Aus is a genious!

Im right there with you guys too. More often than not, I've come to notice that once price drops below those two red lines of support and resistance on my method that they get tried one more time before a fall, so we could possibly see even higher than 202.30, maybe around 202.70 or so. In either case, I'm adding a short there as it is justified to only add to a winning position.

And Q, I'm glad you had a good time brother! And don't worry about me posting lol You know I'm always here, this is like my crack haha
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I dream, therefore I become.
  • #72,382
  • Apr 8, 2008 10:28am Apr 8, 2008 10:28am
Quoting shahroodi
hi mike
how r u????
Im great Shahroodi, how about you man? Lovin your posts btw! Hows your trading going?
I dream, therefore I become.
  • #72,383
  • Apr 8, 2008 10:31am Apr 8, 2008 10:31am
Quoting jacko
Hi mike w

The USD is starting to gain traction...everyone has sighed a big sigh of relief that the worst didn't happen...so there may be a correction for a short while. (We currently have a big position in a counter trend trade)
However, the correction will be short lived..the major trend is still up for the Euro. (The USD is losing its pre-eminence as the worlds major currency, due to lack of trust). The USD is one very sick puppy.

.
I agree entirely with everything you said there Jacko. That's why we're back up in the 200's on g/j for now, but as you said, it's going to be short lived. It's that sigh of relief that's going to send most running too, I think. When everyone is just starting to think the USD is coming back to the clear, that's when it will get busted.
I dream, therefore I become.
  • #72,384
  • Apr 8, 2008 10:32am Apr 8, 2008 10:32am
Quoting mike w
Im great Shahroodi, how about you man? Lovin your posts btw! Hows your trading going?
tks bro tks
i'm fine
today i lose this down ride but i will wait to catch the rest of this downward movement with you and Q and others in here
  • #72,385
  • Apr 8, 2008 10:34am Apr 8, 2008 10:34am
Quoting frevd
you're right, i am watching a possible head&shoulders on eu daily chart. this could get us down to 1.5145 and matches the g7 meeting (who knows what those guys plan )
Excellent note on that! First, we had that double top with no luck for a break to the upside so that was the first thought for shorting and now with your thoughts as well, which are just like mine, that is another solid reason for it. Great stuff!
I dream, therefore I become.
  • #72,386
  • Apr 8, 2008 10:36am Apr 8, 2008 10:36am
Quoting shahroodi
tks bro tks
i'm fine
today i lose this down ride but i will wait to catch the rest of this downward movement with you and Q and others in here
For sure man! Everybody has down days, I know I have LOL It'll be turning around quick for you though, I guarantee it! I'm looking to see your 202.30 before placing another short myself, and if it goes any higher, I'll place another there as well and lock it into profit early.
I dream, therefore I become.
  • #72,387
  • Apr 8, 2008 10:36am Apr 8, 2008 10:36am
Quoting mike w
Im right there with you guys too. More often than not, I've come to notice that once price drops below those two red lines of support and resistance on my method that they get tried one more time before a fall, so we could possibly see even higher than 202.30, maybe around 202.70 or so. In either case, I'm adding a short there as it is justified to only add to a winning position.

And Q, I'm glad you had a good time brother! And don't worry about me posting lol You know I'm always here, this is like my crack haha
LOL!

Nice chart bro. . .
  • #72,388
  • Apr 8, 2008 10:37am Apr 8, 2008 10:37am
Quoting shahroodi
tks bro tks
i'm fine
today i lose this down ride but i will wait to catch the rest of this downward movement with you and Q and others in here
Yep, let's get them green pips my friend!
  • #72,389
  • Apr 8, 2008 10:45am Apr 8, 2008 10:45am
Quoting mike w
I agree entirely with everything you said there Jacko. That's why we're back up in the 200's on g/j for now, but as you said, it's going to be short lived. It's that sigh of relief that's going to send most running too, I think. When everyone is just starting to think the USD is coming back to the clear, that's when it will get busted.
Hmmm...I don't trade GBP/JPY so I can't say anything there.. But the GBP and EUR will drop against the USD for maybe a week or two...maybe even a month....But eventually the lack of trust in the US financial system will reassert itself. The trust in Wall St has been irrevocably damaged, especially in Europe where all their banks were loaded up with all the toxic waste...It will takes years to get that trust back.
The USD will fall for some more time yet.

But..I could be wrong !!
  • #72,390
  • Apr 8, 2008 10:52am Apr 8, 2008 10:52am
Quoting jacko
Hmmm...I don't trade GBP/JPY so I can't say anything there.. But the GBP and EUR will drop against the USD for maybe a week or two...maybe even a month....But eventually the lack of trust in the US financial system will reassert itself. The trust in Wall St has been irrevocably damaged, especially in Europe where all their banks were loaded up with all the toxic waste...It will takes years to get that trust back.
The USD will fall for some more time yet.

But..I could be wrong !!
I agree with you on that. The bearish monthly pin on g/u said it all for me and that started my bearish bias for now. I'm waiting to see how next month pans out, whether it will be a confirmation bar for the shorts or a reversal bar. I'm betting on seeing somewhat of a reversal and if not, then it will come soon after IMO. As you said, these corrections will be short lived. Great analysis Jacko!
I dream, therefore I become.
  • #72,391
  • Apr 8, 2008 10:56am Apr 8, 2008 10:56am
Quoting mike w
Excellent note on that! First, we had that double top with no luck for a break to the upside so that was the first thought for shorting and now with your thoughts as well, which are just like mine, that is another solid reason for it. Great stuff!
just enter long at 201.92
hoping to getting green pips
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  • #72,392
  • Apr 8, 2008 10:58am Apr 8, 2008 10:58am
Quoting Ultraman
just enter long at 201.92
hoping to getting green pips
with this fall in the Halifax House Price Index
  • #72,393
  • Apr 8, 2008 11:00am Apr 8, 2008 11:00am
Quoting Ultraman
just enter long at 201.92
hoping to getting green pips

How long are you planning on holding and what is your justification for going long? I'm just trying to get another viewpoint on it right now.
I dream, therefore I become.
  • #72,394
  • Apr 8, 2008 11:00am Apr 8, 2008 11:00am
Quoting hussin naiji
with this fall in the Halifax House Price Index
this is signal for 50bps cute rate by BOE
  • #72,395
  • Apr 8, 2008 11:07am Apr 8, 2008 11:07am
the time for longs start
  • #72,396
  • Apr 8, 2008 11:09am Apr 8, 2008 11:09am
Quoting khaled22
the time for longs start
what's your reasoning? just curious?
  • #72,397
  • Apr 8, 2008 11:09am Apr 8, 2008 11:09am
Hey Mike,

Good to see you back my friend.
Patience + Discipline - Greed = Success
  • #72,398
  • Apr 8, 2008 11:11am Apr 8, 2008 11:11am
Quoting Infinity
Hey Mike,

Good to see you back my friend.
Hey Infinity! Thanks! Hows it goin for ya man? I hope everything's great!
I dream, therefore I become.
  • #72,399
  • Apr 8, 2008 11:12am Apr 8, 2008 11:12am
look from the corner of ones eye to EURAUD
  • #72,400
  • Apr 8, 2008 11:14am Apr 8, 2008 11:14am
Quoting hussin naiji
look from the corner of ones eye to EURAUD
Nice look Hussin! It looks to me like we had a typical 5 waves up on the daily and we're possibly in the second wave of three correctional waves down. Could be a very easy play! Thanks for the find on there, I dont normally trade this pair!
I dream, therefore I become.
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