If S&P closes above 1400 today it would be very bullish for the stock market. 1400 has been historically a very strong resistence and if we close above that bulls in the stock market will be incharge imo
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #77,562
- May 1, 2008 9:58am May 1, 2008 9:58am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Dow is shooting up to the sky. Can't imagine this morning if we went short 
- #77,563
- May 1, 2008 10:06am May 1, 2008 10:06am
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Money & Pain
Respect the market, protect your capital, be patient
- #77,564
- May 1, 2008 10:07am May 1, 2008 10:07am
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Dow is shooting up to the sky. Can't imagine this morning if we went short
So far so good....
- #77,565
- May 1, 2008 10:10am May 1, 2008 10:10am
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
How do these 1hr candles look to you....
Money & Pain
Respect the market, protect your capital, be patient
- #77,566
- May 1, 2008 10:19am May 1, 2008 10:19am
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What did they look like to you?
To me the green candle looked the fight between the bears and bulls was won by the bulls. It's (to my eyes anyway) an inside bar with a high and low almost the same as the bear candle before it, but more importantly an open and close within the previous bar too...Normally good for a reversal...I'm sure there's a technical term for this...I just can't remember what it is...I'm trading on feeling the price at the moment if you know what I mean...(due to volatility)
I'm still learning....
- #77,567
- May 1, 2008 10:21am May 1, 2008 10:21am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
4hr seems like it's ready to take off, but the lower TF pointing down.....
My original analysis from the morning played out.
All the credit should go to you and Aus. Thanks for sharing your method with us.
- #77,570
- May 1, 2008 10:24am May 1, 2008 10:24am
- | Joined Mar 2008 | Status: Sniper | 1,001 Posts
they've hit 13000 and gone for lunch. If I hadn't been so cocky about 203 I would have gone long at 205, now my shorts are looking worse for wear!
Money & Pain
Respect the market, protect your capital, be patient
- #77,571
- May 1, 2008 10:36am May 1, 2008 10:36am
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #77,572
- May 1, 2008 10:37am May 1, 2008 10:37am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
as i told you befor 3 hours, now we wait to break 206.25 to go 207
that needs UJ breake R1 104.58
- #77,573
- May 1, 2008 10:39am May 1, 2008 10:39am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
As I see it, investors are betting the Fed stimulus package will improve the economy. Today's news report has shown that. It is gradually improving. Equities are at a bargain price. The investors don't want to be late. This will likely to continue for a while. The current market sentiment is buy any dips.
If tomorrow NFP is below expectation (not so bad), we would not see the equity dips much as it has all priced in. If the NFP is ever above the expectation, we really could see all yen pairs flying up high
For a swing trade, it is better to go long than short .. but this is only my opinion.
If tomorrow NFP is below expectation (not so bad), we would not see the equity dips much as it has all priced in. If the NFP is ever above the expectation, we really could see all yen pairs flying up high
For a swing trade, it is better to go long than short .. but this is only my opinion.
- #77,574
- May 1, 2008 10:43am May 1, 2008 10:43am
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
As I see it, investors are betting the Fed stimulus package will improve the economy. Today's news report has shown that. It is gradually improving. Equities are at a bargain price. The investors don't want to be late. This will likely to continue in a while. The current market sentiment is buy any dips.
If tomorrow NFP is below expectation (not so bad), we would not see the equity dips much as it has all priced in. If the NFP is ever above the expectation, we really could see all yen pairs flying up high
For a swing trade, it is better to go long than short .. but this is only my opinion.
- #77,575
- May 1, 2008 10:49am May 1, 2008 10:49am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
That was the UK Clearing Bank again.
They want to see 1.9600 on GBP/USD
Stop losses hit all over the place with this volatility...my stop is at +150 pips now, I hope it holds...I'll leave this trade to do want it wants if it hits the SL there's always another day, but I personally feel they've done this to get a better entry price...just MHO
Looking to see if we get a 1hr close above 206.09ish...
- #77,576
- May 1, 2008 10:50am May 1, 2008 10:50am
- | Membership Revoked | Joined Apr 2008 | 2,468 Posts
I believe we're going to close up, around 13,1k ahead of NFP. NFP will determine whether we're truly bullish or wheter we're back down below 12800
- #77,578
- May 1, 2008 10:55am May 1, 2008 10:55am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
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- #77,579
- May 1, 2008 10:56am May 1, 2008 10:56am
I believe we're going to close up, around 13,1k ahead of NFP. NFP will determine whether we're truly bullish or wheter we're back down below 12800
- #77,580
- May 1, 2008 10:58am May 1, 2008 10:58am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
i think the news of NFP is very bad to dollar the rate from 5.1% to 5.2% which it is very important
I think NFP will be the catalyst for the coming month. It will be a bigger new annoucement than the FOMC rate news
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