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

  • #102,881
  • Jul 22, 2008 11:19am Jul 22, 2008 11:19am
almost a repeat of yesterday: low volume; one would have thought the bulls would have taken advantage of Oil (big drop) and rallied this to the stars...really odd...but like i said yesterday, there was something unnerving about the way they shoved the dow above 10,700 to 11,000 with absolute ease last tuesday (when the low was reached)...and what a massive drop in the euro - not sure if that signifies dollar strength LOL.
  • #102,882
  • Jul 22, 2008 11:38am Jul 22, 2008 11:38am
Here are the facts

1. We have yet to break a massive resistance level at 214

2. This rally in equities is based on lower oil. Countless companies are losing money and others have lowered projections for the foreseeable future (AMEX, Apple most notably)

3. More traders than not are already pimping their longs.

I'm not calling anyone out. I went long yesterday because of many many technical factors pointing up. Just offering some perspective.
"Timing Is Everything. Really I Swear It Is"
  • #102,883
  • Jul 22, 2008 11:39am Jul 22, 2008 11:39am
Short positions below 1.9965 with targets @ 1.9897 & 1.983 in extension.

Alternative scenario: Above 1.9965 look for further upside with 2.0005 & 2.004 as targets
Attached Image
  • #102,884
  • Jul 22, 2008 11:39am Jul 22, 2008 11:39am
Short positions below 1.9965 with targets @ 1.9897 & 1.983 in extension.

Alternative scenario: Above 1.9965 look for further upside with 2.0005 & 2.004 as targets
  • #102,885
  • Jul 22, 2008 11:48am Jul 22, 2008 11:48am
I'm not sure about GBP/JPY. But I am considering shorting this.
  • #102,886
  • Jul 22, 2008 11:52am Jul 22, 2008 11:52am
Quoting Ime@KPR
Short positions below 1.9965 with targets @ 1.9897 & 1.983 in extension.

Alternative scenario: Above 1.9965 look for further upside with 2.0005 & 2.004 as targets
i see u're new here. welcome

but how about sharing your "own" analysis?
  • #102,887
  • Jul 22, 2008 11:58am Jul 22, 2008 11:58am
Quoting lilmoe
i see u're new here. welcome

but how about sharing your "own" analysis?
I was going to say the same thinbg .. the guys over at dailyfx are ok ... but they always say if it is not short then go long above .....
Blogging daily now at www.volume.zone
  • #102,888
  • Edited 12:23pm Jul 22, 2008 12:06pm | Edited 12:23pm
We are seeing smaller and smaller ranges.

Breakout is coming!

My guess is short, since I was long yesterday but price touched 213.82 again.

EDIT:Wherever it goes, I'm going to hold on to this trade.
  • #102,889
  • Jul 22, 2008 12:21pm Jul 22, 2008 12:21pm
Quoting Vfforexlee
We are seeing smaller and smaller ranges.

Breakout is coming!

My guess is short, since I was long yesterday but price touched 213.82 again.

EDIT:Whatever it goes, I'm going to hold on to this trade.
second fake breakouts are also common
  • #102,890
  • Jul 22, 2008 12:24pm Jul 22, 2008 12:24pm
Quoting lilmoe
second fake breakouts are also common
Thanks for the headsup!

Right now, no trades. There is simply no right way to trade right now.
  • #102,891
  • Jul 22, 2008 12:27pm Jul 22, 2008 12:27pm
Quoting lilmoe
second fake breakouts are also common
  • #102,892
  • Jul 22, 2008 12:32pm Jul 22, 2008 12:32pm
If we close DOW above 11520 then IMO we will see 11800 50EMA of the down move 13136
  • #102,893
  • Jul 22, 2008 12:38pm Jul 22, 2008 12:38pm
I am long in EU for quick retrace scalp.... Looks like it may have bottomed out.
  • #102,894
  • Jul 22, 2008 12:40pm Jul 22, 2008 12:40pm
Quoting Vfforexlee
Thanks for the headsup!

Right now, no trades. There is simply no right way to trade right now.
Isn't that the truth. My little plan got pummeled today.
Unless you can guess what oil is going to do.....there is no rhyme or reason. It is all about oil and nothing else.

...and before anyone answers...how can you analyse hurricanes, sword rattling, etc, etc....either that or I am crazy......

Back to taking smaller pips on larger positions.

Until this shit is over with.......
  • #102,895
  • Jul 22, 2008 12:40pm Jul 22, 2008 12:40pm
I dont think the Asian session is going to support this BS thats happening in the DOW.
  • #102,896
  • Jul 22, 2008 12:42pm Jul 22, 2008 12:42pm
Short positions below 1.9965 with targets @ 1.9897 & 1.983 in extension.

Alternative scenario: Above 1.9965 look for further upside with 2.0005 & 2.004 as targets.

The RSI is bearish and calls for further downside.
Attached Image
  • #102,897
  • Jul 22, 2008 12:44pm Jul 22, 2008 12:44pm
oil may bounce from here. what do you guys think?
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  • #102,898
  • Jul 22, 2008 12:45pm Jul 22, 2008 12:45pm
Quoting pkimnyc
oil may bounce from here. what do you guys think?
It does have a good pinbar there on your trendline. Just saying...
  • #102,899
  • Jul 22, 2008 12:49pm Jul 22, 2008 12:49pm
Quoting Rustyyy
Isn't that the truth. My little plan got pummeled today.
Unless you can guess what oil is going to do.....there is no rhyme or reason. It is all about oil and nothing else.

...and before anyone answers...how can you analyse hurricanes, sword rattling, etc, etc....either that or I am crazy......

Back to taking smaller pips on larger positions.

Until this shit is over with.......


i feel ya bro
  • #102,900
  • Jul 22, 2008 12:50pm Jul 22, 2008 12:50pm
Quoting vinesh2
I dont think the Asian session is going to support this BS thats happening in the DOW.
oh it's BS alright - but I think Asia is gonna rocket...and if Oil keeps dropping then dow is heading to the stars
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