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

  • #146,001
  • Dec 4, 2008 4:28am Dec 4, 2008 4:28am
Quoting Serendipity
4800 pips Lilmoe? that means 2 DIGITS G/J as you said?!

when did this 4800 pip drop happen with this pattern Lilmoe?
might not be of the same magnitude, but it's definitely the same pattern.

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  • #146,002
  • Dec 4, 2008 4:30am Dec 4, 2008 4:30am
Warning taken, will reverse position if and when, lots of talk in London of only half a point cut, and maybe I'm still half asleep but charts are pointing up before more down.
Money & Pain Respect the market, protect your capital, be patient
  • #146,003
  • Dec 4, 2008 4:31am Dec 4, 2008 4:31am
Quoting Piters
Actualy bro, I am with you on that. Let's play guessing game, and have a look one of the possible counts. Wave [iii] can extend to 133 area. But long term, I am seeing 111 or even lower levels..
guessing a bottom is not a good idea now... focus on selling rallies my friend

got 4 total shorts so far... didn't close them like everyone else here. i might close a couple if we go above the 4h and 1h trendlines that were broken today.
  • #146,004
  • Dec 4, 2008 4:31am Dec 4, 2008 4:31am
Quoting albashir
toyboy...ao do get the lib link...
sorry what?
Money & Pain Respect the market, protect your capital, be patient
  • #146,005
  • Dec 4, 2008 4:32am Dec 4, 2008 4:32am
Quoting lilmoe
do u guys see this CCI TL breakout? it means DOWN, provided we stay below it TODAY.

even if we retrace hundreds of pips upwards, as long as we stay below it, this will FALL next week at the most. and i'm thinking monday, but it could be before.

last time we had this pattern, price fell down, 4800 pips... just a little heads up.
GM brother. Lets see how your CCI prediction works out. We will revisit the low of 1995 @ 129.320 and i believe that it wont hold this time, so we should get a new low all the way down to the descending channels LTL @ around 122 +- level.
  • #146,006
  • Dec 4, 2008 4:37am Dec 4, 2008 4:37am
So, we are on completiton of wave iii, and as I said technicly can go low to 132.70 or even to 130.90 on alternative count. I am not going to waste your space here with EW counts, but I am posting this charts only to supports those guys who a looking @ targets with very low levels..

http://www.doske.com/fx/snapshot-317.png
  • #146,007
  • Dec 4, 2008 4:38am Dec 4, 2008 4:38am
Quoting Piters
So, we are on completiton of wave iii, and as I said technicly can go low to 132.70 or even to 130.90 on alternative count. I am not going to waste your space here with EW counts, but I am posting this charts only to supports those guys who a looking @ targets with very low levels..

http://www.doske.com/fx/snapshot-317.png
Nice chart mate ... I love your volume indicator.
Discipline + Patience - Fear - Greed = Success
  • #146,008
  • Dec 4, 2008 4:39am Dec 4, 2008 4:39am
Quoting belekas
GM brother. Lets see how your CCI prediction works out. We will revisit the low of 1995 @ 129.320 and i believe that it wont hold this time, so we should get a new low all the way down to the descending channels LTL @ around 122 +- level.
close to my FE 161.8 at 121

we might even go below that then bounce back above it just like we did with FE 127.2 at 141.4
  • #146,009
  • Dec 4, 2008 4:41am Dec 4, 2008 4:41am
Fundy guys ...

Does anybody know what will happen to gu if they cut the bank rate? Will it cause cable to drop or help it retrace?
Discipline + Patience - Fear - Greed = Success
  • #146,010
  • Dec 4, 2008 4:42am Dec 4, 2008 4:42am
Quoting arezab
Nice chart mate ... I love your volume indicator.
google hawkeye volume
  • #146,011
  • Dec 4, 2008 4:44am Dec 4, 2008 4:44am
toyboy...
was asking about the trading library u talked off...

salaam Karmo...,
tot u were away on Hajj....ao is Dubai doing with financial melt down...hope its not hitting the property market too hard? wld love to move there some day.
  • #146,012
  • Dec 4, 2008 4:44am Dec 4, 2008 4:44am
1. Thursday, December 4th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will cut the rates by 100 bp from 3.00% to 2.00%. If they cut the rates to 2.00%, then initially the price action will be unpredictable but the resulting pressure should be higher on GBP/USD. If you can buy at the dip, buy it but probably it will be around pre-release price for a while so there will be plenty of time to set up a good trade. If they cut to 2.25% or 2.50%, GBP/USD may spike up but then it should reverse as this would be disappointing the market. It is tricky to trade but there is a way to make good money.
  • #146,013
  • Dec 4, 2008 4:51am Dec 4, 2008 4:51am
Quoting Anir
1. Thursday, December 4th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will cut the rates by 100 bp from 3.00% to 2.00%. If they cut the rates to 2.00%, then initially the price action will be unpredictable but the resulting pressure should be higher on GBP/USD. If you can buy at the dip, buy it but probably it will be around pre-release price for a while so there will be plenty of time to set up a good trade. If they cut to 2.25% or 2.50%, GBP/USD may spike up but then it should reverse...

and 1.50 will be totally unpredictable for while like last time.
  • #146,014
  • Dec 4, 2008 5:01am Dec 4, 2008 5:01am
Come 129.00 (161.8% FE)

Show me the pips...
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[
  • #146,015
  • Dec 4, 2008 5:02am Dec 4, 2008 5:02am
i smell something going on on the lower tf's. this thing stays valid as long as we stay into the yellow area till rate announcement. i do'nt think we crash down straight the way before beeing able to reload on a small bounce.

after the drop we had decent buying...partly shortcovering but also somebody stepping in. this buying is stopped and price slowly dripples off to be reaccumulated to be prevented from falling. this procedure has taken place 3 times oviously now. i agree to the collapse but think the current drawing shows a good possibility of what could go on later and supports the view of perhaps some short reloading around 135.50~ area.
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  • #146,016
  • Dec 4, 2008 5:07am Dec 4, 2008 5:07am
I quit my shorts here, there might be some upswing.

Will enter on the top again.

miss fence, i am going to sit on you again.
  • #146,017
  • Dec 4, 2008 5:16am Dec 4, 2008 5:16am
Quoting Dr.Geppynius
i smell something going on on the lower tf's. this thing stays valid as long as we stay into the yellow area till rate announcement. i do'nt think we crash down straight the way before beeing able to reload on a small bounce.

after the drop we had decent buying...partly shortcovering but also somebody stepping in. this buying is stopped and price slowly dripples off to be reaccumulated to be prevented from falling. this procedure has taken place 3 times oviously now. i agree to the collapse but think the current drawing shows a good possibility...
doc what are your views on PA during the rate news, what are you expecting.
  • #146,018
  • Dec 4, 2008 5:17am Dec 4, 2008 5:17am
Quoting dr.penis
doc what are your views on PA during the rate news, what are you expecting.

I am expecting downthrust to lock in bears ... maybe 5 min candle or 2 x 5 min , then if rate cut is only 100 bps .. watch out shorts ....... rally on gu to 1.4700 and gj to 137
Blogging daily now at www.volume.zone
  • #146,019
  • Dec 4, 2008 5:18am Dec 4, 2008 5:18am
Hi guys

Isnt it obvious that this is a short? So then Everyone sell now but dont used big lot. However, I think this is to easy to be true. The big guys might do something.
  • #146,020
  • Dec 4, 2008 5:19am Dec 4, 2008 5:19am
Quoting malcolmb14
here are fib extensions targets for tonight , something that everyone can understand and read

I am short off 138 , stop 138.5 , target 134. i have taken half off at 136.6 and moved stop to break even other half.

I am off to bed .. have a good trading night everyone

Attachment

not sure if this helped any of you guys last night .... but the 138 fe was hit... well close enough 134.13

my limit was hit 134.20 ( never place the limit right on the target)

I am flat waiting for the rate cut announcement now , but am long bias
Blogging daily now at www.volume.zone
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