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

  • #159,241
  • Feb 10, 2009 11:56am Feb 10, 2009 11:56am
Quoting bigcoupe
TP is 133 at which time I will start selling.
nice call
--post hoc ergo propter hoc--
  • #159,242
  • Feb 10, 2009 12:01pm Feb 10, 2009 12:01pm
Quoting bigcoupe
Phew...I'm out and have a sell order with shorts at 133, 133.5, 134, 134.5, and so on.

B
DAMN!!!! got that one almost to the freaking PIP!!!!
--post hoc ergo propter hoc--
  • #159,243
  • Feb 10, 2009 12:01pm Feb 10, 2009 12:01pm
Quoting bigcoupe
Phew...I'm out and have a sell order with shorts at 133, 133.5, 134, 134.5, and so on.

B

ok now i knoiw what to do ... follow you ... lol sell off 133 ....

JUST DO NOT SCREW UP ...lol
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  • #159,244
  • Feb 10, 2009 12:02pm Feb 10, 2009 12:02pm
I wanted a 133 sell

Quoting malcolmb14
ok now i knoiw what to do ... follow you ... lol sell off 133 ....

JUST DO NOT SCREW UP ...lol
  • #159,245
  • Feb 10, 2009 12:05pm Feb 10, 2009 12:05pm
Patience guys, this was a very sharp drop... I'd expect more of a retracement than 133.00 (although could be wrong). If you're antsy, start taking smaller shorts at that level and scale in.
  • #159,246
  • Feb 10, 2009 12:06pm Feb 10, 2009 12:06pm
Quoting Monk
DAMN!!!! got that one almost to the freaking PIP!!!!

Monk throw this on your charts ..... I just use these and PA ...note where -78.6 is 132.9... my stop set +20 ... target 100 % fe at 132 .... they work AWESOME.

I use them on the ES also ...

plot them on GU ... your mind will BE BLOWN !!!

One of the other traders in this forum posted this a while ago

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  • #159,247
  • Feb 10, 2009 12:08pm Feb 10, 2009 12:08pm
I would like to see now how price will act near this support trend-line.
RSI already broke. maybe Asia ?
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  • #159,248
  • Feb 10, 2009 12:10pm Feb 10, 2009 12:10pm
Come on GU ... Slam it down hard!!.

there u go .. slow and steady.
  • #159,249
  • Feb 10, 2009 12:10pm Feb 10, 2009 12:10pm
Quoting DMA Trader
I would like to see now how price will act near this support trend-line.
RSI already broke. maybe Asia ?

Japan on holiday .. I would love to see little rally before asia with a nice little bear flag form .. then wham sell the drop thru the break in the flag
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  • #159,250
  • Feb 10, 2009 12:14pm Feb 10, 2009 12:14pm
Daily fib pivots in action on GJ today 5 min.... unreal .. last trade with doji right above the 78.6 pivot was a good one to take .

I typically trade around these with tight stops.

Could also be used for getting swing trade entries on smaller times frames for better entries .

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  • #159,251
  • Feb 10, 2009 12:17pm Feb 10, 2009 12:17pm
I see a huge CCI divergence and looking at 137
  • #159,252
  • Feb 10, 2009 12:23pm Feb 10, 2009 12:23pm
Quoting malcolmb14
Japan on holiday .. I would love to see little rally before asia with a nice little bear flag form .. then wham sell the drop thru the break in the flag
True, but will be hard to get a rally.
Gaithner plan is nothing concrete. i mean nothing.
Stimulus already pass.
Bernake is speaking wich should make SPX tank. lol.
Rule No.1: Never lose money. Rule No.2: Market is always right !
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  • #159,253
  • Feb 10, 2009 12:24pm Feb 10, 2009 12:24pm
Quoting im7i4z
I see a huge CCI divergence and looking at 137
chart please?
  • #159,254
  • Feb 10, 2009 12:28pm Feb 10, 2009 12:28pm
Quoting DMA Trader
True, but will be hard to get a rally.
Gaithner plan is nothing concrete. i mean nothing.
Stimulus already pass.
Bernake is speaking wich should make SPX tank. lol.

I was hoping for a little one on 5 min ... but just keep on selling .... I hit her again on little bounce off daily fib 132 ... I think this one setting stop be and waiting for 130
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  • #159,255
  • Feb 10, 2009 12:33pm Feb 10, 2009 12:33pm
Anybody want to take a stab at what the bottom wil be?

Man the DOW is in the crapper!
  • #159,256
  • Feb 10, 2009 12:38pm Feb 10, 2009 12:38pm
Quoting bigcoupe
Anybody want to take a stab at what the bottom wil be?

Man the DOW is in the crapper!

I like piters - 3000 .... where does that take us ?

really what they got now .. NOTHING ... s&P was one big bull trap . I thought they would drive it to 900..... before the tankage.

right now we got to bounce somewhere and form a series of bear flags on way down .

if 4 hour flag break .. we are roght on bottom now ..... flag pole was 2000 pips ... 119 to 110 somewhere in that zone may be ... new lows
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  • #159,257
  • Feb 10, 2009 12:56pm Feb 10, 2009 12:56pm
Quoting im7i4z
I see a huge CCI divergence and looking at 137
maybe during asia. ny is likely to take it down further. just my thoughts.
  • #159,258
  • Feb 10, 2009 1:00pm Feb 10, 2009 1:00pm
Careful with the sentiment guys. We've not touched the 38% fibo retracement from the last up move yet, so any talk of new lows is way too premature. It's easy to get carried away when GY has lost 400+ pips in one day. 130.40, 128.80 and then 128.20 are levels I will be watching....

A different viewpoint may be that the market is jittery about the stimulus vote, (and subsequent delays), and Guithner's dovish comments. And the Dollar has not tanked against the Euro and Sterling which would indicate that a flight of safety is being made towards Yen, but not necessarily bearish USD.

We need to see how the next day pans out IMHO.

In the meantime, my charts tell me to look for more shorts.
  • #159,259
  • Feb 10, 2009 1:02pm Feb 10, 2009 1:02pm
I think there is some suport near 128. Also 50% FIb. retrace.
I also think there is a good chance we may see 128. but for now the drop is very agresive
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  • #159,260
  • Feb 10, 2009 1:06pm Feb 10, 2009 1:06pm
Quoting DMA Trader
I think there is some suport near 128. Also 50% FIb. retrace.
I also think there is a good chance we may see 128. but for now the drop is very agresive

I am hoping for a little short covering rally in the late US market giving me the flag I am looking for. This will be an easy pattern to trade down through in Asia.

I would not be surprised to see that 128,5 level tested in Asia.
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