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

  • #105,921
  • Aug 6, 2008 6:43pm Aug 6, 2008 6:43pm
Quoting pkimnyc
they might be right with all that BS rally we've been having lately.
I was thinking the same thing. Short term, the equity and forex markets can move in directions that have nothing to do with fundamentals. Long-term, reality has to set in.
  • #105,922
  • Aug 6, 2008 6:51pm Aug 6, 2008 6:51pm
Quoting chonchy
thanks a lot peters very usefull I apreciate it

That pdf is a very useful little check sheet but unless you have an in depth understanding of the Elliot Wave theory I doubt it will do anyone much good. Attempting to use concepts that you have investigated half-heartedly or are not completely familiar with will not work, and this will be reflected in poor results (and then the trader goes onto to the next theory etc.). If you are going to go down the Elliot Wave route (which is not a system I personally rely upon) then you need to make the investment of time and effort to familiarize yourself with the ins and outs of the theory.

I recommend Robert Balan - 'Elliot Wave Principle Applied to the Forex Markets' as a fairly complete introduction, which is available for free download for those talented enough to input the title with a couple of keywords into google, or you can download it from my ebook library here:

http://www.mediafire.com/?dmd15loymth

The Elliot Wave International website also offers some informative videos on trading with Wave theory and can be subscribed to for free.
  • #105,923
  • Aug 6, 2008 7:01pm Aug 6, 2008 7:01pm
Quoting Money-RX
Watching News now listening to unbelievable "expert" recommendations to buy stock.

Billions down the tubes today in stock equity and much more to come.
I got such a signal as well in the past.

back a few weeks ago

About 10 mins after the NAB shock premarket announcement about the extra A$830 mil provision in bad US debt i received a memo at work from GS JBWere that NAB is a good buy from $33 . NAB shares closed the previous day at around $30.8

Market opening promptly shot this thing down to around $24. up to today its only recovered to $26.
  • #105,924
  • Aug 6, 2008 7:01pm Aug 6, 2008 7:01pm
Quoting markam
I was thinking the same thing. Short term, the equity and forex markets can move in directions that have nothing to do with fundamentals. Long-term, reality has to set in.
Sooner or later the reality may be US Gov. runs out of money to bail out and prop up these corps - Autos, banks, whatever, and evens up the playing field.
Freddie mac three times more than expected. Is anyone getting fired!
History is written by the victors.
  • #105,925
  • Aug 6, 2008 7:05pm Aug 6, 2008 7:05pm
Quoting Eulogy
I got such a signal as well in the past.

back a few weeks ago

About 10 mins after the NAB shock premarket announcement about the extra A$830 mil provision in bad US debt i received a memo at work from GS JBWere that NAB is a good buy from $33 . NAB shares closed the previous day at around $30.8

Market opening promptly shot this thing down to around $24. up to today its only recovered to $26.
Best one I've seen recently was a Front Cover headline on Barons Mag. screaming "Buy GM". At that time the stock was at 17. Guess they believe in averaging down.

A bit boring now on the G/J - sorry for the off track post.
History is written by the victors.
  • #105,926
  • Aug 6, 2008 7:08pm Aug 6, 2008 7:08pm
Quoting Money-RX
Sooner or later the reality may be US Gov. runs out of money to bail out and prop up these corps - Autos, banks, whatever, and evens up the playing field.
Freddie mac three times more than expected. Is anyone getting fired!
nope, and they're still paying out some dividends too.
However, there seems to be a common misperception that the Fed's will run out of money. They are a central bank and by definition means that they have the power and the discretion to create money from nothing. Although i agree, the long term effects of such an action will ultimately screw over the economy big time.
  • #105,927
  • Aug 6, 2008 7:09pm Aug 6, 2008 7:09pm
Quoting Vfforexlee
Just as expected. However, I am waiting for the next 4hr bar for confirmation.
I'm shorting this one.
  • #105,928
  • Aug 6, 2008 7:35pm Aug 6, 2008 7:35pm
Great book Bird, complex corrections, really expresses the chop of forex strucutre
"Millionaires don't use astrology, billionaires do"
  • #105,929
  • Aug 6, 2008 7:36pm Aug 6, 2008 7:36pm
213.12 has a spec forces strike force defending any downward movement.
Que
  • #105,930
  • Aug 6, 2008 8:28pm Aug 6, 2008 8:28pm
Quoting birdt
That pdf is a very useful little check sheet but unless you have an in depth understanding of the Elliot Wave theory I doubt it will do anyone much good. Attempting to use concepts that you have investigated half-heartedly or are not completely familiar with will not work, and this will be reflected in poor results (and then the trader goes onto to the next theory etc.). If you are going to go down the Elliot Wave route (which is not a system I personally rely upon) then you need to make the investment of time and effort to familiarize yourself with the ins and outs of the theory.

I recommend Robert Balan - 'Elliot Wave Principle Applied to the Forex Markets' as a fairly complete introduction, which is available for free download for those talented enough to input the title with a couple of keywords into google, or you can download it from my ebook library here:

http://www.mediafire.com/?dmd15loymth

The Elliot Wave International website also offers some informative videos on trading with Wave theory and can be subscribed to for free.
Thank you.
  • #105,931
  • Aug 6, 2008 8:31pm Aug 6, 2008 8:31pm
Quoting Que
213.12 has a spec forces strike force defending any downward movement.
Wow, those guys are good!
  • #105,932
  • Aug 6, 2008 8:37pm Aug 6, 2008 8:37pm
Quoting MykeFX
Wow, those guys are good!
They are expertly trained in the art of "No short for you!!!"
Que
  • #105,933
  • Aug 6, 2008 8:40pm Aug 6, 2008 8:40pm
Quoting birdt
That pdf is a very useful little check sheet but unless you have an in depth understanding of the Elliot Wave theory I doubt it will do anyone much good. Attempting to use concepts that you have investigated half-heartedly or are not completely familiar with will not work, and this will be reflected in poor results (and then the trader goes onto to the next theory etc.). If you are going to go down the Elliot Wave route (which is not a system I personally rely upon) then you need to make the investment of time and effort to familiarize yourself with the ins and outs of the theory.

I recommend Robert Balan - 'Elliot Wave Principle Applied to the Forex Markets' as a fairly complete introduction, which is available for free download for those talented enough to input the title with a couple of keywords into google, or you can download it from my ebook library here:

http://www.mediafire.com/?dmd15loymth

The Elliot Wave International website also offers some informative videos on trading with Wave theory and can be subscribed to for free.

Thanks for this Tom. Looking forward to studying it carefully.
  • #105,934
  • Aug 6, 2008 8:48pm Aug 6, 2008 8:48pm
Quoting Que
They are expertly trained in the art of "No short for you!!!"
You sure this thing will hold?
  • #105,935
  • Aug 6, 2008 8:51pm Aug 6, 2008 8:51pm
Quoting Vfforexlee
You sure this thing will hold?
No, the only reason I am talking about it is because I have a short from 213.61 and would like to see some downward movement.

As I am home with the flu and very bored I have been watching every pip heh.

BTW H1 crossed down so I expect it to get near 212.00. Would be nice to see, but you never know.
Que
  • #105,936
  • Aug 6, 2008 8:53pm Aug 6, 2008 8:53pm
Quoting Que
No, the only reason I am talking about it is because I have a short from 213.61 and would like to see some downward movement.

As I am home with the flu and very bored I have been watching every pip heh.

BTW H1 crossed down so I expect it to get near 212.00. Would be nice to see, but you never know.
Yeah, me too. I was hoping this thing would rocket down after that large price gap from H4.

Of course, price must be under 1hr gann and 1hr QQE to get a signal for short. So hopefully this will go down.
  • #105,937
  • Aug 6, 2008 8:56pm Aug 6, 2008 8:56pm
Quoting Que
They are expertly trained in the art of "No short for you!!!"
SEC anyone?
  • #105,938
  • Aug 6, 2008 9:00pm Aug 6, 2008 9:00pm
That AUD employment report was such a bogan. Revision downwards was as bad as the better than expected result (an expectation i might add that was only 1/7th of what we saw last month). AUD spikes up
  • #105,939
  • Aug 6, 2008 9:02pm Aug 6, 2008 9:02pm
Quoting Eulogy
SEC anyone?
213.12 = 23.6% Ret of the upmove
213.07 = Weekly Pivot
212.89 = Daily Pivot
212.85 = H4 EMA 62
212.80 = H1 EMA365
212.75 = H1 EMA150
212.63 = 38.2% Ret of upmove
212.51 = H1 EMA62
212.46 = Monthly Pivot
212.41 = H4 EMA150
212.24 = 50.0% Ret of the upmove
211.85 = 61.8% Ret of the upmove


Lots of resistance zones going down that I can see. Yet somehow I am aiming for 212.00.... Hmmm maybe I like pain.
Que
  • #105,940
  • Aug 6, 2008 9:30pm Aug 6, 2008 9:30pm
Quoting Eulogy
That AUD employment report was such a bogan. Revision downwards was as bad as the better than expected result (an expectation i might add that was only 1/7th of what we saw last month). AUD spikes up
Eulogy do you have a view how far this pair can fall? I'm expecting 0.8505 which is %61.8 fib retrace from 0.7674 up to the high on weekly chart.

What is your analysis for this ??
Discipline + Patience - Fear - Greed = Success
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