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

  • #209,141
  • Nov 29, 2009 7:19pm Nov 29, 2009 7:19pm
On my weekly charts, the zero lag crossed downward, I am expecting some pullback..However, GJ will fall sometime this week since this is a weekly chart.

146 and 148 are the resistance zone that maybe the reversal on the daily chart.

Once the Dubai's banks exposure and details on the bailout is out, I feel this BS will stop and drop..

IMHO

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  • #209,142
  • Nov 29, 2009 7:26pm Nov 29, 2009 7:26pm
Quoting rgitt05
You are right about gold correction..I guess they use the Dubai excuse for the PB on gold..

Here is an article I found that support your excellent TA on gold.

Gold Will Collapse Like Oil Did in 2008: Charts


The gold price has moved quickly and it has developed an important new uptrend characteristic. This so-called 'parabolic' trend is a dangerous type with a high probability of a sudden collapse.

http://www.cnbc.com/id/34121808

YUP mate..

Gold.. looks easy, if you look your weekly and daily, Gold is moving into the channel formation all the time.. My TEMP top is at $1320-$1390.. Let see if we can catch that one too..

Cheers!
  • #209,143
  • Nov 29, 2009 7:30pm Nov 29, 2009 7:30pm
The gold rally is far from over and the price of the precious metal could hit $1,400 per troy ounce by the end of the year and keep rising from there, James Turk, chairman and founder of GoldMoney, told CNBC.

http://www.cnbc.com/id/34010551




"In this current run I think you're going to see 1,200 to 1,400 (dollars per troy ounce) by the end of this year, and next year I think it's going to continue," Turk said.



Quoting Piters
YUP mate..

Gold.. looks easy, if you look your weekly and daily, Gold is moving into the channel formation all the time.. My TEMP top is at $1320-$1390.. Let see if we can catch that one too..

Cheers!
[
  • #209,144
  • Nov 29, 2009 7:31pm Nov 29, 2009 7:31pm
it looks strange
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  • #209,145
  • Nov 29, 2009 7:33pm Nov 29, 2009 7:33pm
Japan only have 7% exposure to the Dubai according to the Market watch..

Bear trap??? Anyway, 146 is a key resistance for possible reversal.

Europe might bring the house down since they have 72% exposure to this Dubai crisis..

Trade you charts..



Quoting rgitt05
U.S. banks less exposed to Dubai than European rivalsDerivative-based hedging, loan syndication clouds ultimate exposures

SAN FRANCISCO (MarketWatch) -- U.S. banks are probably less exposed than European rivals to a potential debt default by Dubai World, but a lack of transparency and the interconnectedness of the modern financial system make it difficult to know which institutions are ultimately exposed, analysts said this week.

[b]Of that total, European banks hold 72%, with the United States and Japan only holding 9% and 7% of the...
[
  • #209,146
  • Nov 29, 2009 8:02pm Nov 29, 2009 8:02pm
I think, once we break 142.58, the low of the day... Kaboom, Kaboom..
Quoting rgitt05
Japan only have 7% exposure to the Dubai according to the Market watch..

Bear trap??? Anyway, 146 is a key resistance for possible reversal.

Europe might bring the house down since they have 72% exposure to this Dubai crisis..

Trade you charts..

  • #209,147
  • Nov 29, 2009 8:06pm Nov 29, 2009 8:06pm
not sure
Attached Image
  • #209,148
  • Nov 29, 2009 8:09pm Nov 29, 2009 8:09pm
Quoting Piters
YUP mate..

Gold.. looks easy, if you look your weekly and daily, Gold is moving into the channel formation all the time.. My TEMP top is at $1320-$1390.. Let see if we can catch that one too..

Cheers!
Gold-1193 then small retrace

how u saw that..USD50 in a few hr..
mine to share? as i may miss ur previous post

but i missed that movie with only a few buck as am on vacation during that drop...
  • #209,149
  • Nov 29, 2009 8:41pm Nov 29, 2009 8:41pm
After every Action, there must be a reaction..

GOLD as FX markets dropped on Friday as a results of low volume and with combination of Bad NEWS (Dubai ?)..

What I think is going to happen and is happening right now is that the US banks, and US players are trying to test the breakout.. If we fail, then a new low is on plate, if we break up, then some reversal is ON..


GOLD.. still looks bearish.. have a look my 720min chart with a precise channel behavior in gold, and my 60min charts with the breakout we had..

Now.. If GOLD get rejected from 1185 then we will go to the new lows at 1100 - 1050.

If somehow we reach 1050 and we saw a buyers there,... I'll Buy and hold UP to 1350 MIN...

cheers.. and some of my charts.. (pay attention on 60min TL lines..)

[Charts]
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  • #209,150
  • Nov 29, 2009 9:08pm Nov 29, 2009 9:08pm
Quoting lilmoe
i'll stick to my plan

4h 50ema first then i'll think shorts again, otherwise, i'd like to see price below DP and 1h cci30 below the -100 line before i start shorting daily trades...

i won't be trading anything less than 1h unless it's for fine-tuning my entry. i just don't have the time anymore. i'm very busy with the business i started back in January which is STILL under preparations. i'm selling accounting and POS software for now been working on my software for 3 years (while i was trading). raised really good funds and should be...
I'm with moe on this, price is current above Gann on 4h TF, macd cross bullish 4h TF, bullish divergence forming on daily charts, I'll be watching PA on 4h 50 Ema or daily Gann [148] to consider some shorts.

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Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #209,151
  • Nov 29, 2009 9:21pm Nov 29, 2009 9:21pm
Finally we see massive move...GJ drop nearly 1300 pips from 153 to 139 .... bravo.

Dubai Crisis ..... we have seen FIRST WAVE ....

Second wave coming....will be bigger then first wave.

Anything ...Good Luck
  • #209,152
  • Nov 29, 2009 9:50pm Nov 29, 2009 9:50pm
Quoting lilmoe
i'll stick to my plan

4h 50ema first then i'll think shorts again, otherwise, i'd like to see price below DP and 1h cci30 below the -100 line before i start shorting daily trades...

i won't be trading anything less than 1h unless it's for fine-tuning my entry. i just don't have the time anymore. i'm very busy with the business i started back in January which is STILL under preparations. i'm selling accounting and POS software for now been working on my software for 3 years (while i was trading). raised really good funds and should be...
yep. i see bearish HD developing on 4hr chart.
  • #209,153
  • Nov 29, 2009 10:05pm Nov 29, 2009 10:05pm
Quoting lilmoe
do you have children yet?

sup
not yet, lil karmo is coming to the world in February

Welcome back bro
Trade what you see, not what you think.
  • #209,154
  • Nov 29, 2009 10:07pm Nov 29, 2009 10:07pm
Quoting karmostaji
not yet, lil karmo is coming to the world in February

Welcome back bro
hey congrats bro. what did you name him?
assuming it's a boy.
  • #209,155
  • Nov 29, 2009 10:15pm Nov 29, 2009 10:15pm
Quoting pkimnyc
hey congrats bro. what did you name him?
assuming it's a boy.
Thanks bro, I'll let you know in February
Trade what you see, not what you think.
  • #209,156
  • Nov 29, 2009 10:58pm Nov 29, 2009 10:58pm
Quoting karmostaji
Thanks bro, I'll let you know in February
hope that baby comes healthy and wise as his father
The Chonchy
  • #209,157
  • Nov 29, 2009 11:16pm Nov 29, 2009 11:16pm
Kaboom!!
My edge ===> Patience
  • #209,158
  • Nov 29, 2009 11:20pm Nov 29, 2009 11:20pm
I know when he is older you will take him under your wing, and teach him to trade..

Quoting karmostaji
Thanks bro, I'll let you know in February
  • #209,159
  • Nov 29, 2009 11:23pm Nov 29, 2009 11:23pm
I think you're right, about the Kaboom..
Quoting Ben920FX
Kaboom!!
  • #209,160
  • Nov 29, 2009 11:33pm Nov 29, 2009 11:33pm
There is nothing more bearish than a failed pin bar
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