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

  • #186,621
  • Jul 30, 2009 5:30am Jul 30, 2009 5:30am
i must be ready for 158.50??!! or it's the end??!!
we'll wait to get the answer
Making money not by predicting just by following ...
  • #186,622
  • Jul 30, 2009 5:33am Jul 30, 2009 5:33am
Like I wrote in my post of last night something has to happen, some happening has to be the trigger that cauises a sell of. Like unexpected bad news. A quick look on my Bloomberg news tells me the same again. Only (likely manipulated) good news,all happy, consumer confidence Europe consumer conf. up. Home sales UK up, stock markets up. This is imho a sort of G8/G12 concerted intervention whereas agreement was made to polish up all eco releases from those G8/G12 countries. Everything to keep the stock indices up to regain confidence from the citizen in the hope he starts spending again. As long as markets believe all those news stories and the crowd keeps follow them we will not go down significantly. Everytime again it's getting more difficult going lower. Supports are hard to break, resistances easy to take.
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  • #186,623
  • Jul 30, 2009 5:34am Jul 30, 2009 5:34am
This is the correct trend, and S/R levels

157.37 was tested many times, but not broken in the past
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  • #186,624
  • Jul 30, 2009 6:39am Jul 30, 2009 6:39am
Here is another 5 wave wedge that is just completing. Give her a little bit and the bottom will fall out. So far, I like the PA off the bottom of the bigger wedge thats in play right now. Maybe they won't run the stops. We'll surely see.
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  • #186,625
  • Jul 30, 2009 7:02am Jul 30, 2009 7:02am
Quoting Scotty B
Here is another 5 wave wedge that is just completing. Give her a little bit and the bottom will fall out. So far, I like the PA off the bottom of the bigger wedge thats in play right now. Maybe they won't run the stops. We'll surely see.
Thanks for the input Scotty. Clear and concise. After all the formations of H&S, Fibs and other setups we seen that havent ultimately played out, it sure seems that this is the most likely, but we shall see. As you said it really wants to drop bad. I do think its only a matter of time.

Good luck with the trades today
  • #186,626
  • Jul 30, 2009 7:23am Jul 30, 2009 7:23am
SL moved to 156.10
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Making money not by predicting just by following ...
  • #186,627
  • Jul 30, 2009 7:28am Jul 30, 2009 7:28am
Is there a daily GJ breakout strategy that anyone uses here that they'd recommend? I use a weekly straddle that's been pretty effective but would also like to work with a daily strategy. I like strategies that people recommend.

Thanks very much (Hope it's o.k. to post this question here).
  • #186,628
  • Jul 30, 2009 7:33am Jul 30, 2009 7:33am
Quoting forexlion
This is the correct trend, and S/R levels

157.37 was tested many times, but not broken in the past
can i say

Gotcha !!

I will not open any long here, rather wait to see what it does here, too dangerous place to long or short
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  • #186,629
  • Jul 30, 2009 7:33am Jul 30, 2009 7:33am
so. worse than expected. immediate effect GJ rips up 35 pips DJ Fut rips up 25 points. .... figures
  • #186,630
  • Jul 30, 2009 7:35am Jul 30, 2009 7:35am
Quoting Eulogy
so. worse than expected. immediate effect GJ rips up 35 pips DJ Fut rips up 25 points. .... figures
Perfect place to short.
  • #186,631
  • Jul 30, 2009 7:37am Jul 30, 2009 7:37am
Quoting Piece Of The Pie
Perfect place to short.
Buy the bad news
  • #186,632
  • Jul 30, 2009 7:38am Jul 30, 2009 7:38am
i'm long cause I think that's where the big boys are taking it
  • #186,633
  • Jul 30, 2009 7:38am Jul 30, 2009 7:38am
watch them spin this one.

a jobless America is good for the US economy because ........

*open mouth insert foot*
  • #186,634
  • Jul 30, 2009 7:41am Jul 30, 2009 7:41am
Quoting nubchai
Is there a daily GJ breakout strategy that anyone uses here that they'd recommend? I use a weekly straddle that's been pretty effective but would also like to work with a daily strategy. I like strategies that people recommend.

Thanks very much (Hope it's o.k. to post this question here).

Can you give information on your straddle strategy please
  • #186,635
  • Jul 30, 2009 7:43am Jul 30, 2009 7:43am
Quoting cullian
Buy the bad news
not in this case
ROBOT FOREX
  • #186,636
  • Edited 7:57am Jul 30, 2009 7:44am | Edited 7:57am
Quoting Eulogy
watch them spin this one.

a jobless America is good for the US economy because ..
...they are having an agenda to prop the market above 9300, so, any bad NEWS has been ignored.. (since ASIA today... they are buying every deep..)

from one side, the NEWS are bad .. but not "that BAD" ...
from the other side.. the Media is FULL with cheerleading, so they are saying that BIG investors are "ällready back" into the game..

YES. it is a GAME.. since we havent seen any sells in ASIA and EU.. and NY session starting with this background.. YES.. you can expect today DOW at 9200+
  • #186,637
  • Jul 30, 2009 7:45am Jul 30, 2009 7:45am
it seems the market is taking it as good news as claims didnt go back above 600k after previous lower claims were due to seasonal adjustments rather than actual lower claims, up we go then.
  • #186,638
  • Jul 30, 2009 7:45am Jul 30, 2009 7:45am
157.20-157.40 - strong resistance area.
went short
  • #186,639
  • Jul 30, 2009 7:47am Jul 30, 2009 7:47am
And GJ 160+
  • #186,640
  • Jul 30, 2009 7:53am Jul 30, 2009 7:53am
[quote=Piters;2915980]
Quoting Eulogy
watch them spin this one.

a jobless America is good for the US economy because ........

quote]

they are having an agenda to prop the market above 9300, so, any bad NEWS has been ignored.. (since ASIA today... they are buying every deep..)

from one side, the NEWS are bad .. but not "that BAD" ...
from the other side.. the Media is FULL with cheerleading, so they are saying that BIG investors are "ällready back" into the game..

YES. it is a GAME.. since we havent seen any sells in ASIA and EU.. and...
Am afraid you are right. Switch on CNBC, Bloomberg Tv, they are all in the conspiracy. Guys telling recession is over, S&P tp 1200/1500. How do you solve a problem with a Bubble economy? Right! Create another one. S$P even appoaching 1000!! Has the world gone crazy? How about $ 18 trillion debt....?? Whole world has lost its mind? Dr. Goebbels would have been jaleous on this US propaganda machine!
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