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

  • #159,261
  • Feb 10, 2009 11:15am Feb 10, 2009 11:15am
Quoting malcolmb14
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.
It's really not trending right now it's just dropping, which is why I think we need a bounce. Also bounced off the 200SMA on the 1hr perfectly. It's also not too far off my uptrend line that's started in January. Let's see what happens.
  • #159,262
  • Feb 10, 2009 11:15am Feb 10, 2009 11:15am
Quoting malcolmb14
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.
Thanks, I also think that 38,2% fib can also hold for now. at list until Asia.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #159,263
  • Feb 10, 2009 11:24am Feb 10, 2009 11:24am
Quoting DMA Trader
Thanks, I also think that 38,2% fib can also hold for now. at list until Asia.

s&p testing lows .. could break to 130 on gj if ES gives way
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  • #159,264
  • Feb 10, 2009 11:26am Feb 10, 2009 11:26am
Quoting malcolmb14
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.
Means no retrace in asia? i was thinking we might retrace to at least 15m 50 ema. what do u think?
  • #159,265
  • Feb 10, 2009 11:31am Feb 10, 2009 11:31am
Quoting malcolmb14
s&p testing lows .. could break to 130 on gj if ES gives way
yes, like i said earlyer i was expecting a sell-of today. but it will be important to see PA from now, because next week will be option expiration.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #159,266
  • Feb 10, 2009 11:31am Feb 10, 2009 11:31am
Quoting malcolmb14
s&p testing lows .. could break to 130 on gj if ES gives way
I hope ES gives a way down
  • #159,267
  • Feb 10, 2009 11:33am Feb 10, 2009 11:33am
What a day!

Made up for last nights hit I took. Closed all shorts for now and am on the sidelines. Mostly waiting for a nice retrace.

B
  • #159,268
  • Feb 10, 2009 11:34am Feb 10, 2009 11:34am
hi,
this is from eToro , I checked them 4 times today , it seems have good market view,
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  • #159,269
  • Feb 10, 2009 11:37am Feb 10, 2009 11:37am
Quoting dialpips
Means no retrace in asia? i was thinking we might retrace to at least 15m 50 ema. what do u think?

right now i am holding short with target 130 and will only be selling rallies ...I am trading a 15 min chart with 5 min entries.

Asia has been selling gj all week .... so no doubt this will continue . This is a very large drop in the indexes ...... even Asia retraces we should see another large drop London .

There is support 128.5 . This should be tested

here is 4 hour

if in fact the trend has reversed .... and we do get some retracement in Asia it should not be much more than the 38 % of this move down (blue lines)

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  • #159,270
  • Feb 10, 2009 11:39am Feb 10, 2009 11:39am
Quoting malcolmb14
right now i am holding short with target 130 and will only be selling rallies ...I am trading a 15 min chart with 5 min entries.

Asia has been selling gj all week .... so no doubt this will continue . This is a very large drop in the indexes ...... even Asia retraces we should see another large drop London .

There is support 128.5 . This should be tested

here is 4 hour

if in fact the trend has reversed .... and we do get some retracement in Asia it should not be much more than the 38 % of this move down (blue lines)

Attachment ...
Attached Image (click to enlarge)
Click to Enlarge Name: chf.gif Size: 23 KB
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  • #159,271
  • Feb 10, 2009 11:40am Feb 10, 2009 11:40am
Quoting bigcoupe
What a day!

Made up for last nights hit I took. Closed all shorts for now and am on the sidelines. Mostly waiting for a nice retrace.

B
Great call on the 133 BigCoupe. I was looking for the 5 min 50 and missed that 78 fib.
  • #159,272
  • Feb 10, 2009 11:41am Feb 10, 2009 11:41am
Quoting OnTheRoad
hi,
this is from eToro , I checked them 4 times today , it seems have good market view,

lol .... err look gj ..... 66% buyers ?
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  • #159,273
  • Feb 10, 2009 11:43am Feb 10, 2009 11:43am
Quoting malcolmb14
lol .... err look gj ..... 66% buyers ?
Then it continues down and they get margined, sending it lower, duhhh lol
  • #159,274
  • Feb 10, 2009 11:45am Feb 10, 2009 11:45am
Quoting malcolmb14
lol .... err look gj ..... 66% buyers ?
thanks dear macolmb14,
you are right,
the positions are changing , as I see each 40 pip retrace,
.
  • #159,275
  • Feb 10, 2009 11:46am Feb 10, 2009 11:46am
Quoting OnTheRoad
hi,
this is from eToro , I checked them 4 times today , it seems have good market view,
Can you explain the chart ? I mean, if you look at GJ il looks like inverted ?
or is that retail buyers ? they don't look to to confident holding GBP. lool
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #159,276
  • Feb 10, 2009 11:46am Feb 10, 2009 11:46am
Quoting malcolmb14
lol .... err look gj ..... 66% buyers ?
oh well ... used to be top 100 traders
  • #159,277
  • Feb 10, 2009 11:47am Feb 10, 2009 11:47am
Quoting OnTheRoad
thanks dear macolmb14,
you are right,
the positions are changing , as I see each 40 pip retrace,
.

lol there is always someone trying to pick bottom

NORMALLY IT IS ME ..... not today though. ...
Blogging daily now at www.volume.zone
  • #159,278
  • Feb 10, 2009 11:48am Feb 10, 2009 11:48am
Quoting gadawg
oh well ... used to be top 100 traders

now bottom 100 ....lol
Blogging daily now at www.volume.zone
  • #159,279
  • Feb 10, 2009 11:51am Feb 10, 2009 11:51am
Quoting gadawg
Great call on the 133 BigCoupe. I was looking for the 5 min 50 and missed that 78 fib.

Thx... I think Lady Luck helped a bit as well
  • #159,280
  • Feb 10, 2009 12:00pm Feb 10, 2009 12:00pm
Quoting ukdaytrader
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 ...
Agreed.
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