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

  • #72,981
  • Apr 12, 2008 7:30pm Apr 12, 2008 7:30pm
Quoting tdion
With 5 million views of this thread, is anybody turning profit? Geeeez....
Nah, only this guy http://www.imagi-nation.com/moonstruck/question.html

and you of course
Patience + Humility + Study = Success
  • #72,982
  • Apr 12, 2008 7:31pm Apr 12, 2008 7:31pm
malcolm,

I don't really see that happening as the fundamentals are terrible and skewed firmly against the USD. Any reprieve will be temporary. 600 bucks per person ain't going to offset massive losses in home equity, credit card debt, etc.
Patience + Humility + Study = Success
  • #72,983
  • Apr 13, 2008 12:01am Apr 13, 2008 12:01am
ya allah
good day all
  • #72,984
  • Apr 13, 2008 5:15am Apr 13, 2008 5:15am
I don't think much came out of the G7 - not solid agreement.
US remaining silent about dollar weakness because it suits them, and the Europeans feeling hard done by because of the apreciating EURO.
Dow will be sharply down this week I think the the net effect is continuing weakness in the dollar.
  • #72,985
  • Apr 13, 2008 9:34am Apr 13, 2008 9:34am
Quoting Rainer
Ok, the markets are closed now.
But I've just asked www.imagi-nation.com/moonstruck/question.html about the GBP and my lotto numbers with two simple questions:
a)Pound up next week? What was the answer: Ask again later.
b)my Lotto Winning Numbers next week? And the answer: Not likely.
(Well, I believe the last answer).

Happy Weekend all.
I just asked question "a" again and I got: the outlook is not good.
My next question was "will I become a millionaire in 5 years?" and the answer was: without a doubt

This crystal really knows what it's talking about.
  • #72,986
  • Apr 13, 2008 9:59am Apr 13, 2008 9:59am
Quoting tdion
With 5 million views of this thread, is anybody turning profit? Geeeez....
For every pip lost by someone, a pip is gained by someone else. So in order for there is to be a winner, there has to be a loser. That is the harsh reality of forex. When I wake up everyday to trade, I feel that I am in a war against the big banks and big hedge funds. I don't think I will lose. Why go to war when you think you can't win? Why trade when you're already thinking you will lose?
  • #72,987
  • Apr 13, 2008 10:14am Apr 13, 2008 10:14am
Last week I was short biased from 204.50. As I was anticipating, we did get a very nice bounce off of this area, about a 600-pip bounce to be exact. I expect the 197/195 area to be very strong support as you can see on the weekly/monthly chart.

In case you were wondering about the furious bull run from 197 to 205 on April 1, I have attached the monthly chart. The aqua line is the monthly 100 sma. We got a first bounce off of this line which was very powerful. Now we resume consolidation for another leg down. Consolidation might mean a few more weeks.
Attached Image (click to enlarge)
Click to Enlarge Name: 4-13.gif Size: 14 KB
  • #72,988
  • Apr 13, 2008 10:20am Apr 13, 2008 10:20am
XE.com has 199.69 opening price. Interesting.
Patience + Humility + Study = Success
  • #72,989
  • Apr 13, 2008 10:30am Apr 13, 2008 10:30am
Quoting DutchTrader
XE.com has 199.69 opening price. Interesting.
I expect to see consolidation between 197 and 205 before another breakout, most like to the downside if the bad news keep coming in.
  • #72,990
  • Apr 13, 2008 10:31am Apr 13, 2008 10:31am
Quoting $teve
I expect to see consolidation between 197 and 205 before another breakout, most like to the downside if the bad news keep coming in.
I don't see it getting beyond 201 and don't forget US retail sales tomorrow.
Patience + Humility + Study = Success
  • #72,991
  • Apr 13, 2008 10:38am Apr 13, 2008 10:38am
Quoting DutchTrader
I don't see it getting beyond 201 and don't forget US retail sales tomorrow.
195 will be the target for Monday.
All that is left in FF is just plain garbage. "Cloggie"
  • #72,992
  • Apr 13, 2008 10:40am Apr 13, 2008 10:40am
Quoting tonyo524
195 will be the target for Monday.
UJ is higher above 101, fwiw I think this is hilarious. G7 meets and everything in the US is supposedly hunkee doree. 192 bitches~!!!
Patience + Humility + Study = Success
  • #72,993
  • Apr 13, 2008 10:41am Apr 13, 2008 10:41am
Looking at the trendlines on the monthly chart, I see that we are getting very close to the BOTTOM. Since it is the monthly chart, a trendline off by a few degrees means hundreds of pips difference. I think that once we made a new low (192.56) with the next move down, we will bounce off the trendline and up to the 250's again. This would coincide with UJ down to the low 80's area where the major banks have rumored "coordinated intervention". I'm planning on longing a few lots down there and just sit on it for a few months/years and reap the interest. Then once it reaches 260, I'll cash out and retire young and rich.
  • #72,994
  • Apr 13, 2008 10:42am Apr 13, 2008 10:42am
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: 4-13b.gif Size: 21 KB
  • #72,995
  • Apr 13, 2008 10:44am Apr 13, 2008 10:44am
Quoting $teve
Looking at the trendlines on the monthly chart, I see that we are getting very close to the BOTTOM. Since it is the monthly chart, a trendline off by a few degrees means hundreds of pips difference. I think that once we made a new low (192.56) with the next move down, we will bounce off the trendline and up to the 250's again. This would coincide with UJ down to the low 80's area where the major banks have rumored "coordinated intervention". I'm planning on longing a few lots down there and just sit on it for a few months/years and reap the interest. Then once it reaches 260, I'll cash out and retire young and rich.
Not if the UK keeps cutting rates. The uptrend has been broken and we need to make new lows below 192 to see new highs. Just my chartology based on the trendline break that is immenent
Patience + Humility + Study = Success
  • #72,996
  • Apr 13, 2008 10:56am Apr 13, 2008 10:56am
Quoting DutchTrader
I don't see it getting beyond 201 and don't forget US retail sales tomorrow.
I'm talking about long-term range within the next few weeks. This week might be unpredictable because of the G7 meeting. I don't know what those bankers have planned.

On the techncal side, the month momentum is bullish plus the monthly 100 sma at 197 will provide very strong support. I will wait for the new weekly momentum but I am long biased this week. I'm looking to buy low. I was short bias last week because we were up against strong resistance at 204.50. This week 197 will be very support so I'm long biased.
  • #72,997
  • Apr 13, 2008 10:57am Apr 13, 2008 10:57am
Quoting $teve
I'm talking about long-term range within the next few weeks. This week might be unpredictable because of the G7 meeting. I don't know what those bankers have planned.

On the techncal side, the month momentum is bullish plus the monthly 100 sma at 197 will provide very strong support. I will wait for the new weekly momentum but I am long biased this week. I'm looking to buy low. I was short bias last week because we were up against strong resistance at 204.50. This week 197 will be very support so I'm long biased.
200.97 is the opening quote I'm seeing on XE.com classic G7 move
Patience + Humility + Study = Success
  • #72,998
  • Apr 13, 2008 11:04am Apr 13, 2008 11:04am
Quoting DutchTrader
200.97 is the opening quote I'm seeing on XE.com classic G7 move
Is it realiable? Oanda let you place trades during the weekend. So if I buy now at 198.90, I'm gonna be in 200 pips profit when they open?
  • #72,999
  • Apr 13, 2008 11:06am Apr 13, 2008 11:06am
Quoting $teve
Is it realiable? Oanda let you place trades during the weekend. So if I buy now at 198.90, I'm gonna be in 200 pips profit when they open?
Well Xe is off by 160 pips CNNfn is showing 200.21 but 101.71 on UJ
Patience + Humility + Study = Success
  • #73,000
  • Apr 13, 2008 11:33am Apr 13, 2008 11:33am
It is already back down 80 pips. That high level touched my stop, so I am sure my broker will close my position and take a big profit off me. They are real good at honoring stops, limits and hedges over the weekend when it makes a profit for them.
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