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

  • #79,721
  • May 9, 2008 7:12am May 9, 2008 7:12am
Quoting mktjong
Well, from the daily chart we can see a very serious bearish divergence. It can reach down to at least 198.xx area, likely to 196.xx, possibly to 192.xx

I agree with you my chart show GJ will reach 188.19 (2081 pips from 209.00)
  • #79,722
  • May 9, 2008 7:13am May 9, 2008 7:13am
Quoting shakesfx
Ironic thing is I had Shorts at 208.67 and ditched them at mid 207...IDIOT!!! Never mind...All losses recovered from yesterday now, so I'm as happy as the manager of the FED reserve printing press on a production bonus!!

Nice one Lilmoe!! Good call as always bro.
when u place shorts or longs on potential tops or bottoms always keep your SL at BE. u can close some or most of those positions, but always keep one open, just in case! that's how i do it most of the time

i thought we might be bouncing off 202.50 however, i was WRONG!!! thank god i had lots of scalping trades yesterday or i would have suffered a 5% loss from my capital. u always have to have backup trades, or else u're burnt.

good luck!
  • #79,723
  • May 9, 2008 7:14am May 9, 2008 7:14am
Quoting PandoraBox
But my chart show 198 today
Lets see your chart.

The average daily range of GJ is around 240 pips - so far today its already at 300 pips - thus you're expecting a 500 pip day - those are very rare - but possible IF the Trade Balance way off from the predicted -$61.4Bn - TWT
Trading Levels with WRBs
  • #79,724
  • May 9, 2008 7:14am May 9, 2008 7:14am
Quoting karmostaji
I'm back home feels great

I see price closed below the daily gann, nice

Fridays are usually days of extreme moves so if you're not in a trade then stay out

I see 196 where we have the 78.6% retrace (daily chart) and also the daily TL which was broken weeks ago and never re-tested.

Karmo's 2cents

If there is going to be an extreme move, why would you recommend staying out?
  • #79,725
  • May 9, 2008 7:14am May 9, 2008 7:14am
GJ break 199...

lilmoe...I need your help....slap again this beast..
  • #79,726
  • May 9, 2008 7:17am May 9, 2008 7:17am
Quoting lilmoe
when u place shorts or longs on potential tops or bottoms always keep your SL at BE. u can close some or most of those positions, but always keep one open, just in case! that's how i do it most of the time

i thought we might be bouncing off 202.50 however, i was WRONG!!! thank god i had lots of scalping trades yesterday or i would have suffered a 5% loss from my capital. u always have to have backup trades, or else u're burnt.

good luck!
Good advice...cheers bro , right, back to my platform and staring hypnotically at that lovely quote panel covered in lots of flashing reds...
  • #79,727
  • May 9, 2008 7:17am May 9, 2008 7:17am
good luck to all
Attached Image (click to enlarge)
Click to Enlarge Name: New Bitmap Image.JPG Size: 144 KB
my immortal
  • #79,728
  • May 9, 2008 7:19am May 9, 2008 7:19am
Quoting karmostaji
I'm back home feels great

I see price closed below the daily gann, nice

Fridays are usually days of extreme moves so if you're not in a trade then stay out

I see 196 where we have the 78.6% retrace (daily chart) and also the daily TL which was broken weeks ago and never re-tested.

Karmo's 2cents
a chart for you lovely bears & bulls out there

http://img206.imageshack.us/img206/8830/gjvk4.gif
Trade what you see, not what you think.
  • #79,729
  • May 9, 2008 7:20am May 9, 2008 7:20am
lol
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my immortal
  • #79,730
  • May 9, 2008 7:20am May 9, 2008 7:20am
Quoting Islander
Lets see your chart.

The average daily range of GJ is around 240 pips - so far today its already at 300 pips - thus you're expecting a 500 pip day - those are very rare - but possible IF the Trade Balance way off from the predicted -$61.4Bn - TWT
Nothing impossible in FOREX
  • #79,731
  • May 9, 2008 7:22am May 9, 2008 7:22am
Quoting PandoraBox
Nothing impossible in FOREX
Exactly, and when you have the slightest thought of oh here's the bottom, it will do some more damage lol
Trade what you see, not what you think.
  • #79,732
  • May 9, 2008 7:29am May 9, 2008 7:29am
If news is all bad today and Dow is down hard, then 192.xx very likely on Monday morning .. lol ..big party time at the start of trading day next week.
  • #79,733
  • May 9, 2008 7:34am May 9, 2008 7:34am
Quoting mktjong
If news is all bad today and Dow is down hard, then 192.xx very likely on Monday morning .. lol ..big party time at the start of trading day next week.
Well, news out is good. I might need to re-asses the level now ..
  • #79,734
  • May 9, 2008 7:37am May 9, 2008 7:37am
trade Balance -$58.2 Bn vs $-61.4Bn, a little positive for the dollar, so IMO it will depend now on the company earnings releases due out and the Dow / S&P's reaction......

Edit: this one is a biggie..."Adding to the gloom for the financial sector, Citigroup could announce as much as $400 billion of "non-core" assets are up for sale when it meets with investors and analysts later in the day, a person familiar with the situation said."
Trading Levels with WRBs
  • #79,735
  • May 9, 2008 7:44am May 9, 2008 7:44am
Quoting Islander
trade Balance -$58.2 Bn vs $-61.4Bn, a little positive for the dollar, so IMO it will depend now on the company earnings releases due out and the Dow / S&P's reaction......
Whatever, it will bounce a little but still the trend is heading toward south trade with what you see if you want to make money "Smell blood 4 the Bulls"

Just an info and not a reco!
  • #79,736
  • May 9, 2008 7:46am May 9, 2008 7:46am
Quoting Islander
trade Balance -$58.2 Bn vs $-61.4Bn, a little positive for the dollar, so IMO it will depend now on the company earnings releases due out and the Dow / S&P's reaction......

Edit: this one is a biggie..."Adding to the gloom for the financial sector, Citigroup could announce as much as $400 billion of "non-core" assets are up for sale when it meets with investors and analysts later in the day, a person familiar with the situation said."

Precisely why I keep my bermudas on
Patience + Humility + Study = Success
  • #79,737
  • May 9, 2008 7:57am May 9, 2008 7:57am
Quoting Islander

The average daily range of GJ is around 240 pips - so far today its already at 300 pips - thus you're expecting a 500 pip day - those are very rare - but possible IF the Trade Balance way off from the predicted -$61.4Bn - TWT
I am expecting it retraces to 4 hr 5 sma. Went long a small lot from here..I can surely be wrong.
  • #79,738
  • May 9, 2008 7:57am May 9, 2008 7:57am
.... in the late US-Market ... go down TP 199/198 ....

trade well ....
  • #79,739
  • May 9, 2008 8:01am May 9, 2008 8:01am
Quoting Islander
trade Balance -$58.2 Bn vs $-61.4Bn, a little positive for the dollar, so IMO it will depend now on the company earnings releases due out and the Dow / S&P's reaction......

Edit: this one is a biggie..."Adding to the gloom for the financial sector, Citigroup could announce as much as $400 billion of "non-core" assets are up for sale when it meets with investors and analysts later in the day, a person familiar with the situation said."
DJ Citigroup To Cut About $500B In Non-Core Assets >C

DOW JONES NEWSWIRES
Citigroup Inc. (C) CEO Vikram Pandit Friday said the company plans to reduce about $500 billion of non-core assets over the next several years.
"These reductions will release capital that we could use in our other businesses," Pandit said on a conference call with analysts and investors.
Pandit said the $500 billion figure is about 22% of the firm's total assets.
Pandit said the asset reductions, which will be done either through holding to maturity or sales, will take a few years and, "will improve the quality of earnings."
-Greg Morcroft; 415-439-6400; [email protected]
(END) Dow Jones Newswires
May 09, 2008 08:53 ET (12:53 GMT)
  • #79,740
  • May 9, 2008 8:03am May 9, 2008 8:03am
Quoting limcs
DJ Citigroup To Cut About $500B In Non-Core Assets >C

DOW JONES NEWSWIRES
Citigroup Inc. (C) CEO Vikram Pandit Friday said the company plans to reduce about $500 billion of non-core assets over the next several years.
"These reductions will release capital that we could use in our other businesses," Pandit said on a conference call with analysts and investors.
Pandit said the $500 billion figure is about 22% of the firm's total assets.
Pandit said the asset reductions, which will be done either through holding to maturity or sales, will take a few years and, "will improve the quality of earnings."
-Greg Morcroft; 415-439-6400; [email protected]
(END) Dow Jones Newswires
May 09, 2008 08:53 ET (12:53 GMT)
The news doesn't sound "gloom and doom", does it?
In fact, is on the contrary .. well, I don't know ..
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