DislikedLooks like a good short opportunity for the GBP/JPY
What website can I go, to see the Pre-Market Dow?Ignored
Auslanco - GBP/JPY and GBP/USD (newstrade)
- #116,323
- Sep 21, 2008 8:28pm Sep 21, 2008 8:28pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Closed half shorts from 196.38 and let the rest run to 193. Set SL @ +50 pips.
- #116,325
- Sep 21, 2008 8:29pm Sep 21, 2008 8:29pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #116,326
- Sep 21, 2008 8:30pm Sep 21, 2008 8:30pm
- Joined Oct 2005 | Status: Trader | 3,596 Posts
that is my opinion..I noticed this PA at this time
What is tokyo fix???
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- #116,330
- Sep 21, 2008 8:47pm Sep 21, 2008 8:47pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
Okay 11,800 then but yeah I have the same impetus as you to the short side I don't see how this is going to be a rally BUT then again I merely observe YM not trade it
here's something else that might draw some attention:
oil is at VERY critical levels right now; there was a bullish divergence i called for last week that played out nicely on dailies and 4h charts. and now, price is approaching UTL of a massive bearish flag, if broke upwards, our target is 50ema and 38.2 fibo. and if THAT's broken, we might be seeing 50% fibo! that rally in oil MIGHT send YM to the shitter!
weeklies aren't looking good for oil bears neither. we have what looks like a hammer on the bottom of a downtrend coupled with 1) a super MASSIVE bullish HD on MACD with that pin/hammer being a confirmation trigger, 2) what looks like a potential bounce off the -100 line on CCI30, and 3) a failure to close below a 50% fibo.
other senario would be bouncing off that daily UTL and going down to challenge oil's last line of defence defined in the $85-$87 area. and IF broken, will give YM the gas it needs to go up!
just a notice. however, with all the commotion in wallstreet, i'm NOT sure if oil will be the major driver this time.
charts:
- #116,335
- Sep 21, 2008 9:09pm Sep 21, 2008 9:09pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
here's another daily chart for GJ that you guys might find interesting.
i would advise those who shorted 196.40 and above to hold on a bit to their shorts and set their SLs to some profit or B/E at least. we might see 191.88 in the next day or 2 if not today.
other than the bearish HD scrat's talking about, i have 2 TLs at that area and 38.2 fibo. if the TL i have on CCI is broken, then the downtrend will continue with an initial target of 184.50. that's some serious profit
IF, however, we get a daily closing above above 196.50 then prepare to reverse ur trades because this daily correction will extend upwards to 50% and even to 61.8%. but i would vote for 50% because that's where daily 50ema resides, and i'll heavily short from there
i would advise those who shorted 196.40 and above to hold on a bit to their shorts and set their SLs to some profit or B/E at least. we might see 191.88 in the next day or 2 if not today.
other than the bearish HD scrat's talking about, i have 2 TLs at that area and 38.2 fibo. if the TL i have on CCI is broken, then the downtrend will continue with an initial target of 184.50. that's some serious profit
IF, however, we get a daily closing above above 196.50 then prepare to reverse ur trades because this daily correction will extend upwards to 50% and even to 61.8%. but i would vote for 50% because that's where daily 50ema resides, and i'll heavily short from there
- #116,338
- Sep 21, 2008 9:21pm Sep 21, 2008 9:21pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts