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Cable Update (GBPUSD)

  • #181
  • Nov 24, 2006 2:47am Nov 24, 2006 2:47am
Get ready for short @ 1.9349
"Invest With The Insiders, Not The Masses" George Muzea
  • #182
  • Nov 24, 2006 2:48am Nov 24, 2006 2:48am
Quoting m00jiman
I was gonna wait in line outside bestbuy to grab some goodies, but i came home. glad i did, i just snagged more than 150 pips.

my first post, and im so happy.
i thank you guys!
Good job! Excellent trade.
Capital Preservation is key to long term wealth accumulation
  • #183
  • Nov 24, 2006 2:49am Nov 24, 2006 2:49am
Quoting aswilled
3:33 am: I got in at 9176 when the candle signal. I've been riding this wave since the bottom. Praise God! I will have a good christmas.
It's scaring me peoples. 9300 came a little quicker than I expected. Looks like we should see 9400 by sunrise with this momentum.
A. Finesse Williams Making Millions One Pip At A Time!
  • #184
  • Nov 24, 2006 2:52am Nov 24, 2006 2:52am
price touched daily resistance now you can make your shorts
Johann Channels and cycles are everything
  • #185
  • Nov 24, 2006 2:52am Nov 24, 2006 2:52am
Quoting eltom
Its as if traders are assuming the US is in complete caios and the country has broken down into lawlessness!!! I mean it is still the biggest economy in the world. When will common sense prevail?!
Amen brother.
A. Finesse Williams Making Millions One Pip At A Time!
  • #186
  • Nov 24, 2006 2:56am Nov 24, 2006 2:56am
Thanks Mud
Johann Channels and cycles are everything
  • #187
  • Edited 4:01am Nov 24, 2006 3:01am | Edited 4:01am
close my long +113 good week after all

Edit: cheating on me. Not 113 was 163 pips today
Johann Channels and cycles are everything
  • #188
  • Nov 24, 2006 3:03am Nov 24, 2006 3:03am
<TABLE class=tborder cellSpacing=0 cellPadding=3 width="100%" align=center border=0><THEAD><TR><TD class=alt1 align=middle>GBP</TD><TD class=alt1>GDP q/q (p)</TD><TD class=alt1 align=middle>http://www.forexfactory.com/forexfor...isc/mi_med.gif</TD><TD class=alt1 align=middle></TD><TD class=alt1 align=middle>0.7%</TD><TD class=alt1 align=middle>0.7%</TD></TR></THEAD><TBODY></TBODY></TABLE>GDP news exactly 25 min from now.
"Invest With The Insiders, Not The Masses" George Muzea
  • #189
  • Nov 24, 2006 3:03am Nov 24, 2006 3:03am
I have been cautiously staying on the long side of GBP/USD. USD is definitely on it's back foot. I look for a strong correction in the next few days but we will need to get some positive dollar fundamentals for it to happen. All the technical indications are way overcooked. The USD is a very resilient currency and could rebound on just the slightest positive news. All this is telling me to be very cautious taking any position now.
  • #190
  • Nov 24, 2006 3:06am Nov 24, 2006 3:06am
Ive made about 140 pips so far this week, all based on J16 price action and simple support and resistance levels. I cannot believe that some people actually shorted eur and cable without any confirming price action! That is absolutley ridiculous! This break on eur and cable is insane though, i made 40 pips in like 2 minutes and im up 60 on my 2nd half. Good trading!
  • #191
  • Nov 24, 2006 3:07am Nov 24, 2006 3:07am
Quoting lartrade0623
Ive made about 140 pips so far this week, all based on J16 price action and simple support and resistance levels. I cannot believe that some people actually shorted eur and cable without any confirming price action! That is absolutley ridiculous! This break on eur and cable is insane though, i made 40 pips in like 2 minutes and im up 60 on my 2nd half. Good trading!
Hello
what J16 price action was used?
M$M
  • #192
  • Nov 24, 2006 3:13am Nov 24, 2006 3:13am
This must be a joke ....

I looked just now, I couldnt believe to my eyes

Well, fortunatly Im in hedge freezed since 2 days, otherwise my account would be killed
  • #193
  • Nov 24, 2006 3:14am Nov 24, 2006 3:14am
Quoting aswilled
It's scaring me peoples. 9300 came a little quicker than I expected. Looks like we should see 9400 by sunrise with this momentum.
What TF the candle signal u've seen?
  • #194
  • Nov 24, 2006 3:16am Nov 24, 2006 3:16am
Quoting golatigo
any idea what promted these move?

No news that I know of
Don't look at events to move the price. The price is going to do what it do. People move the market.
A. Finesse Williams Making Millions One Pip At A Time!
  • #195
  • Nov 24, 2006 3:16am Nov 24, 2006 3:16am
There's No Economic data released but USD hits very hard .. what's happening in the market right now ?
  • #196
  • Nov 24, 2006 3:16am Nov 24, 2006 3:16am
I think this a a lesson for who wants to keep using elliot vawes !


Any good explanation ?

There is something behind this
  • #197
  • Nov 24, 2006 3:21am Nov 24, 2006 3:21am
Quoting Million$Man
Hello
what J16 price action was used?
M$M

Well, last friday we had a good bounce on gbp/usd from the daily price pivot area, which i learned from J16, i got about 80 pips out of that into the first half of this week. Then on usd/cad there was a classic bounce from the 365ema, which i also learned from j16, got 40 pips on that, but should have got alot more. Now all the dollar pairs are taking off, if you look at all the pairs key support or resistance was broken. I swear all you need is price action , support and resistance and maybe a few moving averages. People WAY over complicate trading it seems and just end up screwing themselves by overthinking.
  • #198
  • Nov 24, 2006 3:21am Nov 24, 2006 3:21am
Quoting c1ro
What TF the candle signal u've seen?
I watch all the time frames. I trade the 1 min. charts. I hope this answers your question.
A. Finesse Williams Making Millions One Pip At A Time!
  • #199
  • Nov 24, 2006 3:23am Nov 24, 2006 3:23am
Hi there all! What a jump. I just want to know if most traders are going short now? I really hope so because my account is in the danger zone.
  • #200
  • Nov 24, 2006 3:28am Nov 24, 2006 3:28am
Quoting trucco
I think this a a lesson for who wants to keep using elliot vawes !

Any good explanation ?
There is something behind this
IMHO

Have in mind this:
1) Expectations of a rate cut next year and....
2) Carry trade liquidations

See posts #148 and 149
Johann Channels and cycles are everything
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