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

  • #160,121
  • Feb 12, 2009 3:20pm Feb 12, 2009 3:20pm
If this is the start of rally, it will be the third "end of week" rally in a row. UJ is looking strong, but GJ hasn't even reached the daily high / daily pivot point yet @ 130.24.
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  • #160,122
  • Feb 12, 2009 3:20pm Feb 12, 2009 3:20pm
NEW YORK, Feb 12 (Reuters) - The U.S. dollar on Thursday
rose to session highs against the yen close to 91 yen on news
the Obama administration is hammering out a program to
subsidize mortgage payments for troubled homeowners who have
gone through a standardized re-appraisal and affordability
test. [nN12472591],
"Stocks surging the last 10 minutes or so on the back of
news that the Obama adminstration is working on a program that
would subsidize mortgage payments," said Brian Dolan, chief
currency strategist at Forex.com in Bedminster, New Jersey.
"Dollar/yen is following suit."
The dollar was last up 0.6 percent against the yen at 90.86
yen <JPY=> after going as low as 89.83 yen early in the
session.


Another BS news event.

No amount of Happy news or BOJ intervention is going to stop the hundreds of trillions of Yen that need to be repatriated. This is a juggernaut that won't be stopped by lip service.

What we are about to see will make the Asian Financial Crisis look like a tea party.
{Some Profound Statement goes here}
  • #160,123
  • Feb 12, 2009 3:20pm Feb 12, 2009 3:20pm
Quoting karmostaji
Price is still below 4h gann, so bearish to me..

The announcement did surprise.. if we don't get above 4h gann then this rally is BS.
I;m with you, and have a short at 129.7

No idea where it's going lol, but we'll see, if anything we should see a slow drift down, I don't expect too much more buying.
  • #160,124
  • Feb 12, 2009 3:20pm Feb 12, 2009 3:20pm
Quoting malcolmb14
but 1 hour Gann .. now nice support
correct, based on auslanco's method, the safest time to go short would be if 1h reverses down as long as we stay below 4h gann.

plus I see a 1h bear flag, top of the channel is 129.70ish
Trade what you see, not what you think.
  • #160,125
  • Feb 12, 2009 3:21pm Feb 12, 2009 3:21pm
Quoting maryinvest
At least karmo here now
Hihi...where are all bears? :d
still here lady.
  • #160,126
  • Feb 12, 2009 3:22pm Feb 12, 2009 3:22pm
Quoting maryinvest
At least karmo here now
Hihi...where are all bears? :d
Keep an eye on 4h gann, if we get a 4h candle close above it then trend has changed to bullish.
Trade what you see, not what you think.
  • #160,127
  • Feb 12, 2009 3:23pm Feb 12, 2009 3:23pm
Quoting karmostaji
correct, based on auslanco's method, the safest time to go short would be if 1h reverses down as long as we stay below 4h gann.

plus I see a 1h bear flag, top of the channel is 129.70ish

thanks .. trying to learn
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  • #160,128
  • Feb 12, 2009 3:24pm Feb 12, 2009 3:24pm
Class time, see you guys in Tokyo!
  • #160,129
  • Feb 12, 2009 3:25pm Feb 12, 2009 3:25pm
this is the LAST TIME i trade without stop loss.
  • #160,130
  • Feb 12, 2009 3:25pm Feb 12, 2009 3:25pm
something i have been wondering about .. but kind of ignoring

maybe this rally today may have changed my mind

4 hour charts ..rsx ..... enough said ... green is for go ...

I would like to see a close above 130.33 though on the 4 hour before getting to excited.

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  • #160,131
  • Feb 12, 2009 3:27pm Feb 12, 2009 3:27pm
2 hour .... bull div ... should have spotted that a mile off. ..

i think bears are in trouble ... buy dips on 15 / 30 min

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  • #160,132
  • Feb 12, 2009 3:31pm Feb 12, 2009 3:31pm
I see a confluence of the 4H Gann and the 1H 50ema at 129.90.
  • #160,133
  • Feb 12, 2009 3:34pm Feb 12, 2009 3:34pm
Quoting CoolTrader77
This thread has a lot of DRAMA
You should see it when things really heat up!
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  • #160,134
  • Feb 12, 2009 3:35pm Feb 12, 2009 3:35pm
Quoting malcolmb14
2 hour .... bull div ... should have spotted that a mile off. ..

i think bears are in trouble ... buy dips on 15 / 30 min

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And tweezer bottoms on 4 hrs, but most especially on 12hrs.
  • #160,135
  • Feb 12, 2009 3:40pm Feb 12, 2009 3:40pm
Quoting shelby
this is the LAST TIME i trade without stop loss.

There is a book written by Rob Booker called "Stop Losses Are For Sissies"
  • #160,136
  • Feb 12, 2009 3:40pm Feb 12, 2009 3:40pm
daily ... we hit daily Gann and 50 % reatrcement today ....

both strong support 128.20 was 50% fib of big move ....

lol low of my channel today with out me even knowing it

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  • #160,137
  • Feb 12, 2009 3:51pm Feb 12, 2009 3:51pm
GJ move up as predicted.
  • #160,138
  • Feb 12, 2009 3:57pm Feb 12, 2009 3:57pm
Quoting PandoraBox
GJ move up as predicted.
I see in your profile, one of your favorite books is:Elliott Wave Principle by Charles J. Collins

Is that your primary trading method?, or do you employ other means as well?
Thx.
  • #160,139
  • Feb 12, 2009 3:59pm Feb 12, 2009 3:59pm
Quoting karmostaji
Keep an eye on 4h gann, if we get a 4h candle close above it then trend has changed to bullish.

Hey Karmo we are currently touching the top of h4 gann channel right now, correct?

so when you say earlier, below h4 gann would still be bearish would that mean waiting for a close below the bottom of the h4 gann channel at 12850 area to go short?

@malcolm: yeah i was bound to make a smart decision at somepoint there few and far between these days. but im getting better.
  • #160,140
  • Feb 12, 2009 4:01pm Feb 12, 2009 4:01pm
Quoting Mysticdiver
I see in your profile, one of your favorite books is:Elliott Wave Principle by Charles J. Collins

Is that your primary trading method?, or do you employ other means as well?
Thx.

can you help me with some learning?
MY OPINION NOT FINANCIAL ADVISE
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