and still is
Auslanco - GBP/JPY and GBP/USD (newstrade)
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"Millionaires don't use astrology, billionaires do"
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Last time 2 year yield on bonds was this high UJ was 108 . The question is does it have catch up to do ?
GJ might break out of 50% fib and very strong R at 204.5 overnight.
GJ might break out of 50% fib and very strong R at 204.5 overnight.
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- #80,750
- May 13, 2008 7:00pm May 13, 2008 7:00pm
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Last time 2 year yield on bonds was this high UJ was 108 . The question is does it have catch up to do ?
GJ might break out of 50% fib and very strong R at 204.5 overnight.
Attachment
DOW was bullish yesteday,m as i suspected
- #80,751
- May 13, 2008 7:01pm May 13, 2008 7:01pm
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I just closed my short at 203.45 (15m 50ema). It may well go lower but this area was my target. I'm not greedy.
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According to what I am seeing, there is strong support at about 203 and strong resistence up near 208.
There is a trendline it would need to break at about 204, but I see this as something that can easily be overcome based on the the current strong support and obvious bullish bars on D1.
With that said, GU to me is still very bearish and would only go up to a level of 1.9550 at best, but most likely it will have a hard time getting back above W1 resistence at 1.9500.
I see no reason for UJ to slow down as i see nothing in her way until 105.36 and a W1 resistence at 105.70 area. It has also broke back into the bullish channel (maybe a bearish flag) and so I am thinking that it too has strong lower support. With that said, there is a chance that it will fall and test that lower support channel.
So this puts me still short on my GU and long on GJ. We shall see and I have be very wrong before
Charts are GJ, GU and UJ. Blue lines are W1 TL's and red lines are D1 TL's
There is a trendline it would need to break at about 204, but I see this as something that can easily be overcome based on the the current strong support and obvious bullish bars on D1.
With that said, GU to me is still very bearish and would only go up to a level of 1.9550 at best, but most likely it will have a hard time getting back above W1 resistence at 1.9500.
I see no reason for UJ to slow down as i see nothing in her way until 105.36 and a W1 resistence at 105.70 area. It has also broke back into the bullish channel (maybe a bearish flag) and so I am thinking that it too has strong lower support. With that said, there is a chance that it will fall and test that lower support channel.
So this puts me still short on my GU and long on GJ. We shall see and I have be very wrong before
Charts are GJ, GU and UJ. Blue lines are W1 TL's and red lines are D1 TL's
"Keep your eyes on the helpers" - Mr. Rogers