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

  • #85,441
  • May 29, 2008 8:12am May 29, 2008 8:12am
Quoting shahroodi
hi Q
agreed
but if beast can break 209-209.10 resistance,i think monthly 5sma high will be in play...otherwise we will see she drops least to daily 5sma low...IMOhttp://qsmile.com/qsimages/73.gif
also i should say that today momentoms of GJ(daily momentoms) were bearish.....just for information
  • #85,442
  • May 29, 2008 8:15am May 29, 2008 8:15am
Quoting quecee5
Thank you for the response. . .
Only a break above 209 area will convince me of that as there is a double top up there and plenty of resistance near there to counter that trend. . . If the US economy continues to deteriorate I can't see how that senario is possible but this is just my opinion. . . Gold will continue it's uptrend as well as oil prices so, I'm not sure what will drive price back above 209 to 225. . .

It is possible Q. If you look back at history, so I've been told, there are times where it goes up even though the economy is colapsing.
  • #85,443
  • May 29, 2008 8:17am May 29, 2008 8:17am
Originally Posted by ukvipersden http://www.forexfactory.com/images/buttons/viewpost.gif
gbp/yen and dow correlation has not been working for a while

oh well,time to brighten up this thread

Quoting metlife777
there are different fluctuations in frequency and length of waves within period of congestion, thus the correlation is not obvious
thanks met
  • #85,444
  • May 29, 2008 8:19am May 29, 2008 8:19am
Quoting shahroodi
hi Q
agreed
but if beast can break 209-209.10 resistance,i think monthly 5sma high will be in play...otherwise we will see she drops least to daily 5sma low...IMOhttp://qsmile.com/qsimages/73.gif
Yeah, just looked at the charts again, and all I continue to see is a move down at least 300 pips min. . . Can't see it reaching 209 today without a significant retrace, downward divergence everywhere, upward mom weakening everywhere, nothing driving it to extend further. . . JMHO. . .
  • #85,445
  • May 29, 2008 8:21am May 29, 2008 8:21am
Quoting quecee5
Yeah, just looked at the charts again, and all I continue to see is a move down at least 300 pips min. . . Can't see it reaching 209 today without a significant retrace, downward divergence everywhere, upward mom weakening everywhere, nothing driving it to extend further. . . JMHO. . .
I would consider buying below 205 area ..
  • #85,446
  • May 29, 2008 8:23am May 29, 2008 8:23am
Quoting Dmac
It is possible Q. If you look back at history, so I've been told, there are times where it goes up even though the economy is colapsing.
Agreed, anything is possible, esp. with the delusional goverment we have who's main goal is to run this country in the ground. . .
  • #85,447
  • May 29, 2008 8:24am May 29, 2008 8:24am
Ok fella's. Small profit again. Time for sleep again. Good luck everyone. It looks to me if we break 206.70ish. it will go down. It could go either way from here so since I made target already, I'm done for today. See you guys tonight for last day to trade for me for week. So far winner every day this week. Would be nice to make it once more.
  • #85,448
  • May 29, 2008 8:32am May 29, 2008 8:32am
Quoting Dmac
Ok fella's. Small profit again. Time for sleep again. Good luck everyone. It looks to me if we break 206.70ish. it will go down. It could go either way from here so since I made target already, I'm done for today. See you guys tonight for last day to trade for me for week. So far winner every day this week. Would be nice to make it once more.

Finally! Let's see if it plays out now.
  • #85,449
  • May 29, 2008 8:34am May 29, 2008 8:34am
Dow: small bounce yesterday was expected (after the three legs down) but is it gonna get clobbered today and/or tomorrow I still see 470 as support however...
  • #85,450
  • May 29, 2008 8:50am May 29, 2008 8:50am
Quoting quecee5
Agreed, anything is possible, esp. with the delusional goverment we have who's main goal is to run this country in the ground. . .
please do not overvalue any government's effect on economy, which is based on fallen principles and not on Bible; this is the regular outcome resulting the sequence of wrong moves but it indeed provides us the opportunities only once in a century!
  • #85,451
  • May 29, 2008 9:00am May 29, 2008 9:00am
GM Guys,

Q, thanks for your input yesterday. As usual, your prediction hit the bullseye.
  • #85,452
  • May 29, 2008 9:04am May 29, 2008 9:04am
Quoting mktjong
Ok, but buy it at a lower price .. big boys think the same as I do ..
thx, let's see where it'll move from 206.65
  • #85,453
  • May 29, 2008 9:08am May 29, 2008 9:08am
Quoting pkimnyc
GM Guys,

Q, thanks for your input yesterday. As usual, your prediction hit the bullseye.
I take it you held short to 206.70/80 area and then bought back for the run-up =
  • #85,454
  • May 29, 2008 9:10am May 29, 2008 9:10am
i think it shoul reverse here!

come gj..come..hehehe

go down now!!
  • #85,455
  • May 29, 2008 9:11am May 29, 2008 9:11am
Quoting quecee5
What will drive it to 211 if you don't mind me asking?
. . .
let me try to reply to this,...japan had an upper house election last year, when the geppy was at 244, at that time aussy opened the tread,..and next year they will hold general election, so i see it at that time closer to that number then not,...(if u dont mind me answering) .
its just money
  • #85,456
  • May 29, 2008 9:14am May 29, 2008 9:14am
Quoting Islander
MMmm - swissy was selling off 20 mins before the data, but its holding at its R1 support and now the dow futures are down 30....I'm waiting for the NY open.....eeuro and cable starting to rally....
The YM held around its DP and then rallied 40 to get up to 12,600 before reversing to head south again.

I'm thinking that helped Uj / GJ up into what is so far a lower high at 208.18 vs 208.33 an hour and a half earlier....so I've taken a half position short and will add IF this reversal gets further confirmation....

Now the dows back at its DP....and gold & oil are creeping back up....
Trading Levels with WRBs
  • #85,457
  • May 29, 2008 9:15am May 29, 2008 9:15am
Quoting quecee5
I take it you held short to 206.70/80 area and then bought back for the run-up =
Actually, I bought it @ 207.15 and left it over night. I knew I wasn't gonna get up in the morning today (I was way too tired). I'm building small shorts again from 208.00.
  • #85,458
  • May 29, 2008 9:18am May 29, 2008 9:18am
Quoting krunforex
i think it shoul reverse here!

come gj..come..hehehe

go down now!!
I think these chart says it all, this will eventually happen in the coming hours.

30min, 1hr, 4hr chart 4 u
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30 min chart.gif Size: 13 KB
Click to Enlarge Name: 1hr chart.gif Size: 12 KB
Click to Enlarge Name: 4hr chart.gif Size: 13 KB
  • #85,459
  • May 29, 2008 9:20am May 29, 2008 9:20am
Quoting de123
let me try to reply to this,...japan had an upper house election last year, when the geppy was at 244, at that time aussy opened the tread,..and next year they will hold general election, so i see it at that time closer to that number then not,...(if u dont mind me answering) .
Thanks for the response, will look into that more. . .
  • #85,460
  • May 29, 2008 9:20am May 29, 2008 9:20am
what about the news coming in 10 minutes, oil... ?
what could we expect?
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