see that s6 level ....
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Auslanco - GBP/JPY and GBP/USD (newstrade)
- #110,581
- Sep 4, 2008 7:17pm Sep 4, 2008 7:17pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
see that s6 level ....
- #110,585
- Sep 4, 2008 7:25pm Sep 4, 2008 7:25pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Set 1/3 TP target at 183.50 1/3 at 180 and 1/3 at 176.50. . .
Price should revisit 186.30 area in 3-4 hrs - I'm looking for a break down to 180-176 area were good support sits.
187.50 area in minor support and probably won't hold much longer IMO. . .
See you all in a few hours. . .
Lower highs and lower lows is the biggest signal in this down trend not sure why people are thinking otherwise. . .
Price should revisit 186.30 area in 3-4 hrs - I'm looking for a break down to 180-176 area were good support sits.
187.50 area in minor support and probably won't hold much longer IMO. . .
See you all in a few hours. . .
Lower highs and lower lows is the biggest signal in this down trend not sure why people are thinking otherwise. . .
- #110,586
- Sep 4, 2008 7:26pm Sep 4, 2008 7:26pm
- Joined Oct 2007 | Status: Sniper | 14,770 Posts
welcome back bro.
we missed you.
- #110,587
- Sep 4, 2008 7:28pm Sep 4, 2008 7:28pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
Q,
welcome back bro.
we missed you.
- #110,590
- Sep 4, 2008 7:30pm Sep 4, 2008 7:30pm
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
Trade what you see, not what you think.
- #110,593
- Sep 4, 2008 7:34pm Sep 4, 2008 7:34pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
- #110,596
- Sep 4, 2008 7:44pm Sep 4, 2008 7:44pm
- | Joined Mar 2007 | Status: Fundamentally Technical | 4,446 Posts
Patience + Humility + Study = Success
- #110,599
- Sep 4, 2008 7:46pm Sep 4, 2008 7:46pm
- Joined Oct 2007 | Status: Trader | 5,510 Posts
just some notes:
1) when a trend becomes very clear, it is then known that the trend is nearing the end.. i'm not sure why it is true, but some traders here found out that the trend was down when we closed below 192.60... and most were picking bottoms.
2) when a trend start slow, it usually accelerates in a huge pace at its very end. we did have a VERY fast acceleration of this dump, and i believe our recent low is the temporary bottom of this latest bear that gathered back momentum after retracing to 206.20.
we are due for a retrace, and this retrace should either be back to 192 or 196-197, who knows...
i bought the bottom and SL is at b/e ATM. daily momentum is pointing up and 5sma as at 190.7 which i am expecting to be reached today.
this wont be a black friday as we already did fall. i wouldn't recommend shorting these levels, that would be purely a gamble.
183 and below? yes, not now, not next week (i would reconsider the second part if i see more bearish momentum next week).
dammit we should retrace, lol.. i want to add shorts from higher levels!!!! and yessss, i am that greedy... lol
good luck all!
= = ???????192.50 has been tested 2-3 times and failed - take a look on lower TF's. . .
Price i sitting on monthly 61.8% support and if it closes below it the next major support is between 183.50 and 180 area. . .
I see price at 186.30 shortly with a push lower based on the charts. . .
Gd luck on that trade bro and mean that seriously. . .
The recent market turmoil has been predominated by [HEDGE FUND] rumours, following the steep plunge in oil prices since Hurricane Gustav and the subsequent closure of Ospraie Management's $3bln flagship commodities fund this Tues. With many hedge funds having bet on commodities and in turn holding a fare amt of equity in oil and gas companies; smelling the blood, macro players are reported to be now shorting popular positions of these funds, and subsequently causing disarray out in the hedge fund community. Adding a a few rumours here and there; the vicious cycle of lower stocks, lower commodities ensues. Latest victim has been huge hedge fund Atticus Capital, which has subsequently been forced to deny widespread market rumours that it is liquidating its positions and closing down.
