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Cable Update (GBPUSD)

  • #23,541
  • Edited 8:19am Aug 10, 2007 7:57am | Edited 8:19am
Quoting cesarnc
FED is pumping cash in...

And same price action as yesterday's by that time...

Reported $19 bln
$19 billion ? - my cats collar cost more than that - and it's lost 3 the same

Bernanke sure knows how to spend... Dow should be fun today though
  • #23,542
  • Aug 10, 2007 7:57am Aug 10, 2007 7:57am
Quoting waf_1988
What would that supposed to be?
That there may be other funds melting.
  • #23,543
  • Aug 10, 2007 7:58am Aug 10, 2007 7:58am
Quoting bullrock
The PROBABILITY of a downward move is LESS and LESS... So when it becomes. 0.0000000000000000000000001 then it will fall 350 pips in 60 seconds because of the large surprise and panic...
But if you look at the pair technically, you may see that MACD is still showing bearish divergence, RSI is not yet oversold and the price movement is below the medium line of BB...

Long position taken is not wise now, I guess...Please advise
Hello World
  • #23,544
  • Aug 10, 2007 7:58am Aug 10, 2007 7:58am
Resize that pic, man

600px works fine
  • #23,545
  • Aug 10, 2007 8:02am Aug 10, 2007 8:02am
Quoting waf_1988
But if you look at the pair technically, you may see that MACD is still showing bearish divergence, RSI is not yet oversold and the price movement is below the medium line of BB...

Long position taken is not wise now, I guess...Please advise
Yeah that was just an observation... I said FALL... (I have posted it as a contrarian thinking). I would never go against low probabilities. I am bearish too...

But I would wait until it breaks resistance. And it is Friday afternoon (GMT). I would go for a beer. (I still need to work, so beer later)
.
  • #23,546
  • Aug 10, 2007 8:04am Aug 10, 2007 8:04am
In the City the guys will go to the pub around 4 pm (GMT)
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  • #23,547
  • Aug 10, 2007 8:05am Aug 10, 2007 8:05am
Quoting bullrock
Yeah that was just an observation... I said FALL... (I have posted it as a contrarian thinking). I would never go against low probabilities. I am bearish too...

But I would wait until it breaks resistance. And it is Friday afternoon (GMT). I would go for a beer. (I still need to work, so beer later)
I would suggest you to have a dozen if you would like to...

Today's tough, the pair moved downward so far, and my chart shows bearish movement, but I don't know how strong or how long it will stand on...
Hello World
  • #23,548
  • Aug 10, 2007 8:05am Aug 10, 2007 8:05am
I lied about that early friday, I just cant leave, today just looks too good
this may be one crazy ass friday. NY opens in 30 min. look for huge sell off.
The Bears are out today and probly will be for the next few weeks. Selling off some of my stocks for profit protection. This may get crazy.
Just Trade It
  • #23,549
  • Aug 10, 2007 8:09am Aug 10, 2007 8:09am
Quoting Big Wave Rider
I lied about that early friday, I just cant leave, today just looks too good
this may be one crazy ass friday. NY opens in 30 min. look for huge sell off.
The Bears are out today and probly will be for the next few weeks. Selling off some of my stocks for profit protection. This may get crazy.
Welcome to the party...
Hello World
  • #23,550
  • Aug 10, 2007 8:11am Aug 10, 2007 8:11am
Quoting Big Wave Rider
I lied about that early friday, I just cant leave, today just looks too good
greedy bastard

I was also planning to go do something else today. Look at me now
  • #23,551
  • Aug 10, 2007 8:11am Aug 10, 2007 8:11am
Quoting waf_1988
I would suggest you to have a dozen if you would like to...

Today's tough, the pair moved downward so far, and my chart shows bearish movement, but I don't know how strong or how long it will stand on...
You see that??? Very simple problem... And it is a bullih triangle especially if it breaks upwards..
Attached Image (click to enlarge)
Click to Enlarge Name: gu.jpg Size: 38 KB
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  • #23,552
  • Aug 10, 2007 8:12am Aug 10, 2007 8:12am
Quoting cesarnc
geedy bastard

I was also planning to go do something else today. Look at me now
Forex is just too addicting, it's like drugs to me lol
Trade what you see, not what you think.
  • #23,553
  • Aug 10, 2007 8:14am Aug 10, 2007 8:14am
Quoting bullrock
You see that??? Very simple problem... And it is a bullih triangle especially if it breaks upwards..
I am not using MACD, stochastics, pivots, MAs, etc etc etc... in my trading... In fact no indicators whatsoever... Just price and me...
.
  • #23,554
  • Aug 10, 2007 8:15am Aug 10, 2007 8:15am
Quoting cesarnc
greedy bastard

I was also planning to go do something else today. Look at me now

Is that the kettle calling the pot black?
Just Trade It
  • #23,555
  • Aug 10, 2007 8:17am Aug 10, 2007 8:17am
So, please tell us your analysis about that chart.
Hello World
  • #23,556
  • Aug 10, 2007 8:20am Aug 10, 2007 8:20am
Quoting cesarnc
Resize that pic, man

600px works fine
killed the moggy - sorry about that - size matters

ok 10 minutes to dow - lets see - saw
  • #23,557
  • Aug 10, 2007 8:22am Aug 10, 2007 8:22am
Quoting bullrock
I am not using MACD, stochastics, pivots, MAs, etc etc etc... in my trading... In fact no indicators whatsoever... Just price and me...
The indicators will help you to "smoothen" the price actions, so that you will not be misled...But it is also good for you if you can see the market as a whole movement and you as the executor...Frankly, I'm not that psychologically-at-ease like you, so I use the indicators...:
Hello World
  • #23,558
  • Aug 10, 2007 8:23am Aug 10, 2007 8:23am
Quoting waf_1988
So, please tell us your analysis about that chart.
The blue lines are my approximate targets down and the greens up... The red lines are resistance/trendlines... My analysis in short
Attached Image (click to enlarge)
Click to Enlarge Name: gu2.jpg Size: 51 KB
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  • #23,559
  • Aug 10, 2007 8:23am Aug 10, 2007 8:23am
Once it hits this 16 month trend line it could go in the direction of the arrows.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.jpg Size: 36 KB
Just Trade It
  • #23,560
  • Aug 10, 2007 8:27am Aug 10, 2007 8:27am
So many targets yet you stayed out?!

I used this link http://news.efxnow.com/EN/Commentary/index.html

for fundamentally updated information
Hello World
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