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

  • #148,121
  • Dec 10, 2008 5:29pm Dec 10, 2008 5:29pm
Hi malcolmb14,

Here is my 4hr GJ chart..I hope you can read it..There is someone on this board speaking for others that my charts are confusing...LOL..

PA tested the R2 138.50 level and rejected at 50EMA..

The overall trend is bearish..

Candle is above the 4hr gann and below the 50EMA( consolidation into a small triangle) Breakout is due soon!!

I don't think anything will happen tonite..

London will probably have to determine this range...


Fundamentals are stuck with this BS bailout...Let them file bankruptcy and rebuild their infrastructure similar to the toyota, honda,etc...

The other companies are surviving this bad economy..

So far, I see the white house is having a hard time passing this bill...Eventhough the bill will pass, it is not enough to keep the little 3 together next year...

Jobs will be loss and the companies will fail but it better without the tax payers money..

IMHO..





Quoting malcolmb14
here is my 4 hr chart ..... confluence of fib time extension say something happening midnight tonight PST (start of London ) , maybe some form of pivot.

there is a 1-2-3 sell formation on 4 hr now that may pan out and the 50 sma is forming upper resistance
Attachment
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  • #148,122
  • Dec 10, 2008 5:39pm Dec 10, 2008 5:39pm
Quoting rgitt05
Hi malcolmb14,

Here is my 4hr GJ chart..I hope you can read it..There is someone on this board speaking for others that my charts are confusing...LOL..
I dig your charts dude...keep them coming! They are much appreciated.
JQ2
The Only Constant Is Change!
  • #148,123
  • Dec 10, 2008 5:40pm Dec 10, 2008 5:40pm
imo the pounds a bit like smoking in a bar / club

it's finished I hope I'm wrong but thats what I think

if we trade under the dp 167 ish and break the double bottom

we are heading for new lows - if you need evidence look

at eur gbp
  • #148,124
  • Dec 10, 2008 5:41pm Dec 10, 2008 5:41pm
geppy 15m and 1hr sup/res angles
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"Millionaires don't use astrology, billionaires do"
  • #148,125
  • Dec 10, 2008 5:43pm Dec 10, 2008 5:43pm
Quoting cohiba pips
imo the pounds a bit like smoking in a bar / club

it's finished I hope I'm wrong but thats what I think

if we trade under the dp 167 ish and break the double bottom

we are heading for new lows - if you need evidence look

at eur gbp
chunnel is all about parity, thats the mantra so they can join the EU
"Millionaires don't use astrology, billionaires do"
  • #148,126
  • Dec 10, 2008 5:47pm Dec 10, 2008 5:47pm
My advice is to zoom out and look at the big picture..

It hard to see a trend forming if the charts are too big..

Look at this chart...

There is a consolidation forming because it in a wedge...

Now if the RSX( from Godfrey's indicators) stays in the downward trend than the expected breakout should be downward...

The overall trend for the daily, 4hr and 1hr are bearish..

The PA today rejected the 138.30 area so I assumed it is a strong resistance atm...

Their is no major news for asian time and the London time will probably break this wedge...

It can be easy to scalp this PA because it will bounce in the wedge...

Attached Image (click to enlarge)
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  • #148,127
  • Dec 10, 2008 5:48pm Dec 10, 2008 5:48pm
Thanks JQ2

I am glad I can help you see the trend...



Quoting JazzmanQ2
I dig your charts dude...keep them coming! They are much appreciated.
JQ2
[
  • #148,128
  • Dec 10, 2008 6:27pm Dec 10, 2008 6:27pm
OK i have to tell you all this ... give you a laugh at my expense.

I really did sell a bottom today at 136.60 ... meant to press buy ... pressed sell .. got distracted .. came back and found my position down 80 pip ...lol

after much cursing and hitting myself with piece of wood on head several times decided to swing trade it as long as price remains under the 50 sma on the 15 min...
Blogging daily now at www.volume.zone
  • #148,129
  • Dec 10, 2008 6:32pm Dec 10, 2008 6:32pm
Quoting malcolmb14
OK i have to tell you all this ... give you a laugh at my expense.

I really did sell a bottom today at 136.60 ... meant to press buy ... pressed sell .. got distracted .. came back and found my position down 80 pip ...lol

after much cursing and hitting myself with piece of wood on head several times decided to swing trade it as long as price remains under the 50 sma on the 15 min...
I have done it a couple of times too .. usually I will try to get out right away or just wait for a few pips only if possible ..
I think London would take this baby down hard.
  • #148,130
  • Dec 10, 2008 6:33pm Dec 10, 2008 6:33pm
Check this out !

Dec. 9 (Bloomberg) -- Investing in U.K. government debt is almost twice as risky as buying bonds sold by McDonald’s Corp., based on prices in the credit-default swap market.

The CHART OF THE DAY compares the cost of protecting against a decline in the creditworthiness of the two borrowers. U.K. protection became more expensive on Sept. 29, when the pound suffered its biggest one-day loss against the dollar in 16 years after the government took control of Bradford & Bingley Plc, Britain’s biggest lender to landlords.

Full Story Link - Make sure you click on Graphic !

http://www.bloomberg.com/apps/news?p...dlc&refer=home
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #148,131
  • Dec 10, 2008 6:38pm Dec 10, 2008 6:38pm
Quoting malcolmb14
OK i have to tell you all this ... give you a laugh at my expense.

I really did sell a bottom today at 136.60 ... meant to press buy ... pressed sell .. got distracted .. came back and found my position down 80 pip ...lol

after much cursing and hitting myself with piece of wood on head several times decided to swing trade it as long as price remains under the 50 sma on the 15 min...
My biggest money making trades were when I pressed the wrong button.
What's that smell?
  • #148,132
  • Dec 10, 2008 6:41pm Dec 10, 2008 6:41pm
if we break the double bottom we are going down big time we hit r1 three times and nearly

r2 it still looks bearish pls dont folllow moi
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  • #148,133
  • Edited 7:22pm Dec 10, 2008 6:45pm | Edited 7:22pm
I done that several times in the past but got lucky half of the time.


Quoting malcolmb14
OK i have to tell you all this ... give you a laugh at my expense.

I really did sell a bottom today at 136.60 ... meant to press buy ... pressed sell .. got distracted .. came back and found my position down 80 pip ...lol

after much cursing and hitting myself with piece of wood on head several times decided to swing trade it as long as price remains under the 50 sma on the 15 min...
[
  • #148,134
  • Edited 7:02pm Dec 10, 2008 6:51pm | Edited 7:02pm
Man this is gotta be close for a top

trying a test short 8787

long lbs also
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"Millionaires don't use astrology, billionaires do"
  • #148,135
  • Dec 10, 2008 6:58pm Dec 10, 2008 6:58pm
from what ive learnt over time if it breaches 137.50 on the five minute

then mals 123 sell will be void - i think i'm just at the minute
  • #148,136
  • Dec 10, 2008 7:03pm Dec 10, 2008 7:03pm
Quote
My biggest money making trades were when I pressed the wrong button.

Haha, sadly i can concur with that statement.

Dr. G & lilmoe - still haven't seen the massive sell-off, I presume you still believe thats in the cards though merely delayed? Under what condition would you consider it will not happen as expected?

Thanks
  • #148,137
  • Dec 10, 2008 7:07pm Dec 10, 2008 7:07pm
Quoting Cdawg
Haha, sadly i can concur with that statement.

Dr. G & lilmoe - still haven't seen the massive sell-off, I presume you still believe thats in the cards though merely delayed? Under what condition would you consider it will not happen as expected?

Thanks

well if it does not happen at all .. then that is a sure sign of it not happening ... lol

I thin once the bail out news is off the table and been resolved ( the market has this built in ) then we get back to business of the true state of the economy .. forth quarter earnings are up next week ..... dec 15th I see the next down leg of the market commencing .. somewhere there to dec 17th
Blogging daily now at www.volume.zone
  • #148,138
  • Dec 10, 2008 7:14pm Dec 10, 2008 7:14pm
Quoting Cdawg
Haha, sadly i can concur with that statement.

Dr. G & lilmoe - still haven't seen the massive sell-off, I presume you still believe thats in the cards though merely delayed? Under what condition would you consider it will not happen as expected?

Thanks
direct legislative foreign currency intervention announcing an immediate floor price of Cable at 1.50
  • #148,139
  • Dec 10, 2008 7:21pm Dec 10, 2008 7:21pm
Quoting Eulogy
direct legislative foreign currency intervention announcing an immediate floor price of Cable at 1.50
i dont believe it sorry
  • #148,140
  • Dec 10, 2008 7:23pm Dec 10, 2008 7:23pm
Quote
well if it does not happen at all .. then that is a sure sign of it not happening ... lol

Lol, right you are..


Quote
direct legislative foreign currency intervention announcing an immediate floor price of Cable at 1.50

How likely is that to happen? somehow i can't see that occuring

Thanks for you responses
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