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

  • #78,321
  • May 5, 2008 1:30pm May 5, 2008 1:30pm
i went long @ 206.92(99) closed 206.59 (with spread) -40
i see target for longs lower..
  • #78,322
  • May 5, 2008 1:36pm May 5, 2008 1:36pm
Attached Image


  • #78,323
  • May 5, 2008 1:38pm May 5, 2008 1:38pm
Quoting vinesh2
Malcolm IMO as long as S&P stays above 1400 equities are in good shape but once we go below 1400 thats it for DOW. Historically 1400 has been a good support and resistence area so its a waiting game I guess.
I am not saying the market is going to collapse here , but the lies that have been told and the books that have been cooked .. lol

The markets have been very resilent in light of all the bad news out there ,a little to resilient in my opinion. I think it might be ' close eyes ' syndrome ..... where everyone is praying and hoping that everything will be ok long term and in fact this is not a true recession in the USA right now.
Blogging daily now at www.volume.zone
  • #78,324
  • May 5, 2008 1:40pm May 5, 2008 1:40pm
attention to EJ
  • #78,325
  • May 5, 2008 1:41pm May 5, 2008 1:41pm
Quoting malcolmb14
Last time i looked Karmo was going long to 215
Trade what you see, not what you think.
  • #78,326
  • May 5, 2008 1:43pm May 5, 2008 1:43pm
Without getting myself too excited, where do you think this will end bros? Will we retest 209 or just keep sinking?? I've got a targets at 204.83 and then to 203.65...and hopefully below...Am I being too optimistic do you think?
  • #78,327
  • May 5, 2008 1:44pm May 5, 2008 1:44pm
Quoting malcolmb14
YM has 13100 as major R right now. Been a lovely ride down .

Did a bunch on Friday and another bunch today on the Ym just traidng the open range breakouts

With the Yahoo / Microsoft deal off the table and the financials getting hit today do not expect a rebound in the dj any time soon.

I think the whole bull run was designed to take it to 13000 and get the retail investors suckered into the trap. In the next week or two the real truth will unfold.
There is still Japanese and London session that haven't joined the ride yet. Thus, I think the downtrend still prevails at least till tomorrow NY :
Last nite , I watched the price just couldn't get over the 4 hour sma and quite way over-bought. Thus, decided to short it. Learn a lot from Brian's roll-over logical trade concept, it makes a whole lot sense all the time. Therefore, people saying trading is an art. It does not base on this or that indicators to trade, as they are all lagging. Indicators only act as an additional confirmation not a decision maker. I start to believe, if using indicator to trade then I am always in the 95% side who lose
  • #78,328
  • May 5, 2008 1:45pm May 5, 2008 1:45pm
Quoting shakesfx
Without getting myself too excited, where do you think this will end bros? Will we retest 209 or just keep sinking?? I've got a targets at 204.83 and then to 203.65...and hopefully below...Am I being too optimistic do you think?
I don't know, but I'm looking more at about 206 or 205.5
  • #78,329
  • May 5, 2008 1:46pm May 5, 2008 1:46pm
I dont think I see this going more then 206 or maybe 205.50 thats about it Daily S1 and Daily Gann may act as resistence
  • #78,330
  • May 5, 2008 1:46pm May 5, 2008 1:46pm
Quoting warta
Attachment

haha .. this is funny ..
  • #78,331
  • May 5, 2008 1:47pm May 5, 2008 1:47pm
If price does drop any lower, 205.15 should act as a support which is the Daily gann hilo
Trade what you see, not what you think.
  • #78,332
  • May 5, 2008 1:49pm May 5, 2008 1:49pm
Quoting malcolmb14
Last time i looked Karmo was going long to 215
I was bullish bias all of yesterday, not until 1hr candle closed below 1hr gann and now 4hr has closed below and confired,.

Trade what you see on the charts is the rule, if we cross above ganns again i become a bull
  • #78,333
  • May 5, 2008 1:50pm May 5, 2008 1:50pm
I thought these rockets were a little on the volatile side....

Slight mishap on the GBP/JPY take-off me thinks....

"Huston, we (Wall St) have a problem..."
  • #78,334
  • May 5, 2008 1:52pm May 5, 2008 1:52pm
Quoting shakesfx
I thought these rockets were a little on the volatile side....

Slight mishap on the GBP/JPY take-off me thinks....

"Huston, we (Wall St) have a problem..."
As for now, let the problem be .. have the rocket malfunction ..
  • #78,335
  • May 5, 2008 1:52pm May 5, 2008 1:52pm
break of 1 hour and 4 hour trend line, next point of call is around 205.50
  • #78,336
  • May 5, 2008 1:53pm May 5, 2008 1:53pm
Quoting mktjong
There is still Japanese and London session that haven't joined the ride yet. Thus, I think the downtrend still prevails at least till tomorrow NY :
Last nite , I watched the price just couldn't get over the 4 hour sma and quite way over-bought. Thus, decided to short it. Learn a lot from Brian's roll-over logical trade concept, it makes a whole lot sense all the time. Therefore, people saying trading is an art. It does not base on this or that indicators to trade, as they are all lagging. Indicators only act as an additional confirmation not a decision maker. I start to believe, if using indicator to trade then I am always in the 95% side who lose
I have been starting to use zigzags , which is also a lagging indicator as i need 2 bars to form before the indicator can tell if it is a pivot or not, however my technique of adding or subtracting pips to the trigger bar to get me into the trade suits this indictor well. So like you I have watching price action more than indicators.

This has been serving me well in the futures trading.
Blogging daily now at www.volume.zone
  • #78,337
  • May 5, 2008 1:55pm May 5, 2008 1:55pm
Quoting guess121
break of 1 hour and 4 hour trend line, next point of call is around 205.50
2 hour .. break of the 50 sma ( pink line ) down we go to 204.85.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 137 KB
Blogging daily now at www.volume.zone
  • #78,338
  • May 5, 2008 2:02pm May 5, 2008 2:02pm
Quoting karmostaji
If price does drop any lower, 205.15 should act as a support which is the Daily gann hilo
if we drop lower i see 205.80
  • #78,339
  • May 5, 2008 2:04pm May 5, 2008 2:04pm
im buying 6.64
"Millionaires don't use astrology, billionaires do"
  • #78,340
  • May 5, 2008 2:14pm May 5, 2008 2:14pm
Quoting OrionsWay
im buying 6.64

Think we're going back to 209 Orion??
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