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Cable Update (GBPUSD)

  • #23,781
  • Aug 13, 2007 12:57am Aug 13, 2007 12:57am
I shot gbp/usd.. cos' the chart will explain below..
please give comments..
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  • #23,782
  • Aug 13, 2007 2:03am Aug 13, 2007 2:03am
Good morning everyone. Another great day to be a trader except I cant log into mt4 it says I have an invalid account. I have a demo account with mig finacial so I can use the mt4 charts, without these I am sailing blind.
Anybody have any ideas? I could use oandas charts but they dont have my indicators.
Just Trade It
  • #23,783
  • Aug 13, 2007 2:05am Aug 13, 2007 2:05am
Quoting Big Wave Rider
Good morning everyone. Another great day to be a trader except I cant log into mt4 it says I have an invalid account. I have a demo account with mig finacial so I can use the mt4 charts, without these I am sailing blind.
Anybody have any ideas? I could use oandas charts but they dont have my indicators.
open new account!!
  • #23,784
  • Aug 13, 2007 2:06am Aug 13, 2007 2:06am
Quoting Big Wave Rider
Good morning everyone. Another great day to be a trader except I cant log into mt4 it says I have an invalid account. I have a demo account with mig finacial so I can use the mt4 charts, without these I am sailing blind.
Anybody have any ideas? I could use oandas charts but they dont have my indicators.
On demo accounts, you can start a new one, just go to File/Open an account, and it should set up new demo account for you. Will still have any templates, etc you have saved.
Trade what you see, not what you think.
  • #23,785
  • Aug 13, 2007 2:12am Aug 13, 2007 2:12am
Quoting maestr2
On demo accounts, you can start a new one, just go to File/Open an account, and it should set up new demo account for you. Will still have any templates, etc you have saved.

Thank you, I felt handicapped with out my charts, not a good feeling.
Just Trade It
  • #23,786
  • Aug 13, 2007 2:18am Aug 13, 2007 2:18am
Quoting pino2
With all the respect to people using EW, I rarely see winning trades by using EW, and I don't know why they stick to it, posting charts every min and every chart has different numbers than the other one, and when it comes to the target (one in a million) parties are held and the extended version 12 inch of the told yo so song to be played
EW is not for everyone, but try reading some of Traex´s posts......+1019 for July......that´s why some good traders do use EW!

http://www.forexfactory.com/showpost...&postcount=737
Trading Levels with WRBs
  • #23,787
  • Aug 13, 2007 2:39am Aug 13, 2007 2:39am
This week will be important for gbp.

Because, inflation report, retail sales and bank of minutes will be released this week. All of these datas are expecting to ease. This means that gbpusd can see further decline.
What is more? CPI and retail sales of US will be released this week as well. Forecasts show that we can see good numbers for usd. This means that FED will not cut rates and more credit problem and risk aversion. So gbpjpy crosses might see more losses.
There is an one more risk for gbp. It is China. In China, CPI is the higest in ten years. This means that they will increase their monetary tighting.

Technically speaking, if we see under 2.0130 , downside risks will increase and we might see under 2. The rising trend is around 1.99-2.00.
  • #23,788
  • Aug 13, 2007 2:39am Aug 13, 2007 2:39am
whos long eur&gbp ?
its just money
  • #23,789
  • Aug 13, 2007 2:45am Aug 13, 2007 2:45am
Im looking to short GU...trying to figure out when tho...i think an entry now may be too early?? any suggestions
  • #23,790
  • Aug 13, 2007 2:48am Aug 13, 2007 2:48am
i think yes...stocks in uk open higher...250 today, anybody or just me ?
its just money
  • #23,791
  • Aug 13, 2007 2:48am Aug 13, 2007 2:48am
i think the best is 38.2% or 50% fibe retracement.. in 5min chart


Quoting mr.m
Im looking to short GU...trying to figure out when tho...i think an entry now may be too early?? any suggestions
  • #23,792
  • Aug 13, 2007 2:50am Aug 13, 2007 2:50am
Quoting de123
i think yes...stocks in uk open higher...250 today, anybody or just me ?
and me
  • #23,793
  • Aug 13, 2007 2:54am Aug 13, 2007 2:54am
Quoting mr.m
Im looking to short GU...trying to figure out when tho...i think an entry now may be too early?? any suggestions
Wait 40 minutes or so to see the results of the GBP News
announcements in the Forex Factory calendar.
  • #23,794
  • Aug 13, 2007 3:03am Aug 13, 2007 3:03am
There seems to be a downward retracement coming at either 2.0222 or 2.0259. What do others think?
  • #23,795
  • Aug 13, 2007 3:05am Aug 13, 2007 3:05am
Quoting winterwhite
Wait 40 minutes or so to see the results of the GBP News
announcements in the Forex Factory calendar.
I second that.. too risky to jump ahead of the news.
  • #23,796
  • Aug 13, 2007 3:12am Aug 13, 2007 3:12am
What do you think would happen to GBPUD B4 and after the event today?
can somebody tell me from reliable source,
One Luv
JC Deji Mayor
[email protected]
+2348067889283
  • #23,797
  • Aug 13, 2007 3:19am Aug 13, 2007 3:19am
Quoting mr.m
Im looking to short GU...trying to figure out when tho...i think an entry now may be too early?? any suggestions
-

Thanks for the reply guys!
After a little bit of analyzing i think:

either: GU may even touch the 142 level first and retrace before it heads down to the 020ish levels

or: GU may retrace to the 328 level before it heads down..
  • #23,798
  • Aug 13, 2007 3:26am Aug 13, 2007 3:26am
.
  • #23,799
  • Aug 13, 2007 3:27am Aug 13, 2007 3:27am
We're in a situation where I don't think anyone knows what will happen next,'' says David Mackie, the bank's chief European economist in London.

thats a reliable sorce...
http://www.bloomberg.com/apps/news?p...currency_rates
its just money
  • #23,800
  • Aug 13, 2007 3:27am Aug 13, 2007 3:27am
Price bounced off support level @ 0157
Trade what you see, not what you think.
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