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

Bro read my post a couple post back. . .
Looks like the inverted shampoo will play out for a run to the weekly pivot.
I was expecting more of a dip lower to 149.40/60 area but I guess we already saw that early. Also the fact that GJ is positioned nicely above 150.50 resistance and gu still above support at 1.6500 might bode well for a nice little pop. . .

I do see resistance above at 151.70 area whihc is weekly pivot a break up wpuld see the weekly range up to 152.40 area. Bit i'd like to see a close above 151 area to feel all warm and fuzzy inside. . .

Whats up QQQQ.. EU topping? what do you think or do you think Goldman is going to kill every trader on this planet.

I still see EU in a 5th wave triangle and I'm waiting for the last spike up bro. . . EU is sitting nicely well above recent resistance turned support 1.4650 and the fact they tested support early this a.m. tells me that there could be more upside but the momentum is waning. . .

I'm looking for a top very soon. . . 1.4780-95-00 area. . .

I am taking this to 1.44 and beyond remember i had mentioned mid oct-nov will be dollar strong. they will tank it to buy it cheaper and the spike high in dec

Agreed, I will short it with u soon. . .

Hi Q!

Why are you waiting another spike up on EU? I mean, any strong resistance upper?

Thanks

This pair has taken out the spike from last year. . . The fact that we've had a daily close above the spike has me a bit concerned. We have tried to move lower on the news spike but it was bought in the 1.47 area. That leads me to believe that there is a potential that it could higher.

So I'm waiting for another spike with a reversal candle - Looking at the daily doesn't appears to be one near. . . What I do know is that the momentum and daily range is getting narrow which leads me also to believe that this ending diagonal is nearing an end but would like to see a push higher met by plenty of sellers creating a doji of some sort. . .

Bro, based on GU PA now, 2morrow GU might close below 5 MA Daily - Bearish Sign

Thanks Q!

Great explanation, the high of spike candle last year was 1.4716, there was another candle with spike up on Sep 21/08 high @1.4864, was the last green candle before big reversal, maybe we could see this levels again to load short positions from there.

Would love to see that but until then my shorts on gu still in tact from last week. . .

Soaring stock market boosts household net worth for the first time since the fall of 2007. Real estate holdings rise in value too.


http://money.cnn.com/2009/09/17/news...ises/index.htm

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Congrats

By: Larry Edelson

So far in my emails to you on the future of the U.S. dollar, we’ve seen how President Obama and U.S. Fed chief Bernanke pretty much have no choice but to destroy the greenback’s value:
It is the ONLY way Washington can ever hope to service the more than $100 trillion it now owes to investors and seniors.
Plus, we’ve also seen how China and other foreign investors have already begun to stampede for the exits, accelerating the dollar’s demise:
Dumping greenbacks is the ONLY way they can hope to insulate themselves from what many believe is the inevitable demise of the dollar.
In more normal times, either one of the twin crises outlined above would cause reasonable investors to expect the dollar to plunge even faster going forward.
But now, a new, global movement has begun that points to an even faster decline for the U.S. dollar in the weeks and months ahead ...
The warning signs are crystal clear to anyone who follows global economic news with an open mind. Nevertheless, this third shoe to drop in the dollar’s collapse will come as a complete surprise for the vast majority of all U.S. wage-earners, consumers, savers and investors.
By the time they see the story about this new assault on the greenback on the evening news, trillions of dollars in personal wealth will have been vaporized. Every dollar they’ve earned, saved, invested and have socked away for retirement will have been gutted of its value.
The greenback could soon lose its status
as the world’s RESERVE CURRENCY!

Until now, most of the world’s governments, central banks, financial institutions and investors held their reserves — their cash on hand — in U.S. dollars.
The greenback has also enjoyed preeminence as the currency that most of the world’s nations use when making international purchases on the global markets.
But if the U.S. dollar were to suddenly lose its position as the world’s reserve currency — if trillions of dollars were no longer needed by foreigners as currency reserves — worldwide demand for dollars and the value of the greenback would utterly collapse.
Now ... thanks in large part to ...
Our massive national debt plus the unprecedented explosion of new debt under the Obama administration ...


The U.S. Treasury’s record-shattering offering of debt instruments to finance our massive borrow-and-spend addiction ...


The Fed’s out-of-control money printing, and ...


The near-certainty that these factors will cause the greenback to plunge in value.
Many foreign governments and central bankers are now demanding that the greenback be abandoned as the world’s reserve currency.
Impossible? Absolutely NOT!

In fact, the warning signs
are everywhere you care to look:

China is already lobbying — aggressively — for a new global reserve currency and leading the campaign to establish an Asian currency reserve fund.


Over the past few weeks, the U.N., France, India, Russia, Brazil and several other nations — as well as economic thinkers such as George Soros and Nobel Prize winning economist Joseph Stiglitz — have joined China in demands to replace the dollar as the world’s reserve currency.


The G-7’s recent funding of the IMF with $1 trillion ... new regulatory powers ... and broader use of the IMF’s Special Depository Receipts, or SDRs confirms that the stage is being set for a new global monetary order.


China recently established a $95 billion currency swap with other Southeast Asian countries, and a $10 billion currency swap with Argentina. It is the first major Yuan swap agreement with a Latin American country — and directly threatens the dollar south of the border.

Its goal: To aggressively take its Yuan to the next sphere of influence in the currency markets, forcing a worldwide monetary change ...


South America’s Bank of the South is preparing to open its doors soon with seed capital from Argentina, Brazil, Venezuela, Bolivia, Ecuador, Paraguay and Uruguay.

Could the greenback implode like Rome’s denarius did at the end of the Roman Empire — when its currency collapsed to zero in a little more than a decade?
Or like the Russian ruble has ... like the British pound sterling did at the end of the 19th century ... like the Thai baht and a host of other currencies did during the Asian Contagion of the 1990s?
Could the steady but gradual erosion in the dollar’s value we’ve seen so far deteriorate into an all-out rout?
To me, the answer is clear: It’s much more than merely possible. Washington’s decades of gross mismanagement of the economy has made the dollar’s imminent demise PROBABLE.
And when it happens, everyone who has savings and investments denominated in dollars will awake to find that a huge chunk of the wealth they thought they had has vanished — even as their cost of living skyrockets.

You too if you own a house here in USA..



Go out and buy buy buy many houses..

hey Q baby long time...cheers KABoooooooooooom

important levels

147 should be broken
146 should be strong resistance after break
14450 minor support
142-141 major support

sorry for messy chart

Gann E/U...

Shorting Soon.

Hi Raza!

Most of the traders here (me too), we're waiting to short EU, what do you think of this weird move a few mins ago in all majors?

nice set up here we should see Nice PA after Ramadan...


Hey Bro Raza....wont u send me some of the Ram u gonna kill on monday?