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

  • #118,081
  • Sep 29, 2008 7:33pm Sep 29, 2008 7:33pm
Quoting Eulogy
i must say that i've never seen a primary B wave come so close to the low before.

wave 2 generally 62 75 86 %, the use of short covering momentum catapults the intense 3rd wave


Its all a what if anyhow
"Millionaires don't use astrology, billionaires do"
  • #118,082
  • Sep 29, 2008 7:37pm Sep 29, 2008 7:37pm
Not sure who said this but is this true?
meaning even if the $700 Billion package goes thru market wont be happy and this thing is ready to tank?

Serendipity
  • #118,083
  • Sep 29, 2008 7:39pm Sep 29, 2008 7:39pm
Quoting Serendipity
Not sure who said this but is this true?
meaning even if the $700 Billion package goes thru market wont be happy and this thing is ready to tank?

Serendipity
Last info on Bloomberg was $5 trillion, not 53
  • #118,084
  • Sep 29, 2008 7:44pm Sep 29, 2008 7:44pm
Quoting OrionsWay
Yea what if todays decline was in fact a 2 or B wave down on 4-8 hr chart that would put w3 up aroun 214 area or so.

i know u're good at what u do, but isn't 214 a bit too much? it would ruin my long term bearish setup.
  • #118,085
  • Sep 29, 2008 7:46pm Sep 29, 2008 7:46pm
Quoting Serendipity
Not sure who said this but is this true?
meaning even if the $700 Billion package goes thru market wont be happy and this thing is ready to tank?

Serendipity
it doesn't matter if it is or no.

approx figures

US National Debt 10.5 Trillion
US GDP 14 Trillion
US Mortgage Market 12 Trillion
US Credit market 41 Trillion
Highest proported plan cost so far needed to bailout ALL US firms 58 Trillion

CDO market before collapse of Bear Sterns
560 Trillion

700 Billion?? a drop in an ocean, and yet possibly all Paulson or the USA can afford at any one time.
  • #118,086
  • Sep 29, 2008 7:47pm Sep 29, 2008 7:47pm
Quoting OrionsWay
wave 2 generally 62 75 86 %, the use of short covering momentum catapults the intense 3rd wave


Its all a what if anyhow
tell me ur long
  • #118,087
  • Sep 29, 2008 7:49pm Sep 29, 2008 7:49pm
  •  Hamsoj
  • | Joined Jul 2008 | Status: The humble at heart shall see God | 18 Posts
Quoting OrionsWay
Yea what if todays decline was in fact a 2 or B wave down on 4-8 hr chart that would put w3 up aroun 214 area or so.

I don't understand you are trying to say on the chart, do you GBP/JPY is coming back up to 214?
  • #118,088
  • Sep 29, 2008 7:52pm Sep 29, 2008 7:52pm
Quoting lilmoe
i know u're good at what u do, but isn't 214 a bit too much? it would ruin my long term bearish setup.

Hhahaa maybe a bit optimistic NO, maybe not, we only got here and now and its selling again

yea long covered now, always lookin for the bottom, may have another small leg down or just a test. Lets see and responde correctly to what we've come to understand

grabbed some yen 3.60 freebie puips
"Millionaires don't use astrology, billionaires do"
  • #118,089
  • Sep 29, 2008 7:58pm Sep 29, 2008 7:58pm
thanks for the info. I think thats where i got the 53 Trillion from when i was in England last week.

ya agree about the drop in the ocean.

anyone agree the short term target of 180 for G/Y?

thanks
Serendipity

Quoting Eulogy
it doesn't matter if it is or no.

approx figures

US National Debt 10.5 Trillion
US GDP 14 Trillion
US Mortgage Market 12 Trillion
US Credit market 41 Trillion
Highest proported plan cost so far needed to bailout ALL US firms 58 Trillion

CDO market before collapse of Bear Sterns
560 Trillion

700 Billion?? a drop in an ocean, and yet possibly all Paulson or the USA can afford at any one time.
  • #118,090
  • Sep 29, 2008 7:59pm Sep 29, 2008 7:59pm
Quoting lilmoe
tell me ur long
yea I'll be long when pigs fly.

But I'll remain bearish until my charts say otherwise. Right now we are still below 1hr/4hr gann, and QQE is still crossed down on the higher timeframes.
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Learning never ends.
  • #118,091
  • Sep 29, 2008 8:02pm Sep 29, 2008 8:02pm
Quoting kbrown
yea I'll be long when pigs fly.
  • #118,092
  • Sep 29, 2008 8:07pm Sep 29, 2008 8:07pm
214?? i better buy now on the cheap...
  • #118,093
  • Sep 29, 2008 8:13pm Sep 29, 2008 8:13pm
Quoting forexlion
longer term is still in favour of 187.54, subject to break of that support, but shorter term of 30 min favours a retrace, so lets so how long the support holds there.
http://www.forexfactory.com/showpost...stcount=117870


Trade achieved with pin point accuracy, this is what i call trading price action effectively.
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  • #118,094
  • Sep 29, 2008 8:17pm Sep 29, 2008 8:17pm
We are in a strong down trend, we have a evening star followed by treadline break on the 5 min. Also, 30m Stochs are about to cross down and if you count waves we are going to 'C' shortly.
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Learning never ends.
  • #118,095
  • Sep 29, 2008 8:19pm Sep 29, 2008 8:19pm
till the time bullshit says down, i will never go long on GJ

i will go long only when bullshit says up
  • #118,096
  • Sep 29, 2008 8:26pm Sep 29, 2008 8:26pm
i am thinking at the same thing.

Quoting OrionsWay
Yea what if todays decline was in fact a 2 or B wave down on 4-8 hr chart that would put w3 up aroun 214 area or so.
Nihil Sine Deo.
  • #118,097
  • Sep 29, 2008 8:31pm Sep 29, 2008 8:31pm
Quoting TraderStar
Not declared yet, some sources say they are setting us up for it.
This is how rumors get started.

  • #118,098
  • Sep 29, 2008 8:36pm Sep 29, 2008 8:36pm
pound parity just around the corner.
  • #118,099
  • Sep 29, 2008 8:40pm Sep 29, 2008 8:40pm
Quoting Serendipity
thanks for the info. I think thats where i got the 53 Trillion from when i was in England last week.

ya agree about the drop in the ocean.

anyone agree the short term target of 180 for G/Y?

thanks
Serendipity
Me, i think 180 is a good target aside from the fact that it is a psych lvl.
IMO, it may go lower than that with the speculation that the BoE will cut rate soon and if that happened, i will not be surprise to see 170.
Another thing to consider is the unwinding of carry trade and the resulting yen strengthening.
Technically, daily, 4HR, 1HR QQE are bearish and the Gann all way down below the line.
With this kind of set up, strong downtrend is still on the way and it's just regaining momentum.
  • #118,100
  • Sep 29, 2008 8:46pm Sep 29, 2008 8:46pm
Thanks FXObserver! i agree also. 180 is a good psych. level but further meltdown possible

Quoting FXObserver
Me, i think 180 is a good target aside from the fact that it is a psych lvl.
IMO, it may go lower than that with the speculation that the BoE will cut rate soon and if that happened, i will not be surprise to see 170.
Another thing to consider is the unwinding of carry trade and the resulting yen strengthening.
Technically, daily, 4HR, 1HR QQE are bearish and the Gann all way down below the line.
With this kind of set up, strong downtrend is still on the way and it's just regaining momentum.
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