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Cable Update (GBPUSD)

  • #23,981
  • Aug 13, 2007 9:13am Aug 13, 2007 9:13am
Eur/Usd

Load the daily chart 50 EMA. It will give the awnser. Lookout of SL hunters / false breakout.
  • #23,982
  • Aug 13, 2007 9:17am Aug 13, 2007 9:17am
Quoting SunTrader
And I know some including myself who have done very well by his daily/weekly reports. Best learning tool on an ongoing basis. But if you haven't read the book then you are only taking someone else's opinion on the validity of the service.

Gann's writings are over 50 years old and are very cryptic. Mystery adds credibility I guess.

But I still don't understand where MA's come from other than so many small size traders use them. Banks may use them, sometimes, but they have the muscle to move a market sometimes.

Sun, the Ma's become powerful because one of the key elements of any market is TIME, not sure why certain Ma's represent such sup/res either. Like the 50 bar represent fair value. Must be part of the universal ebb and flow of cosmic radiations which affect the pysche of humans.
"Millionaires don't use astrology, billionaires do"
  • #23,983
  • Aug 13, 2007 9:20am Aug 13, 2007 9:20am
It's completely normal for humans to fill their heads with BS
  • #23,984
  • Aug 13, 2007 9:22am Aug 13, 2007 9:22am
I Swiss central bank on the wiers or something? USDCHF is popping out of nowhere...
  • #23,985
  • Aug 13, 2007 9:23am Aug 13, 2007 9:23am
Quoting mikewong
Hey cesarnc,

Thanks!

What if the FED follow suit? I know may sound rookie-ish..but i'm new in this and don't really know how news affects this...

want to educate myself in forex as much as possible.

Cheers,
Mike

Fed says conducts overnight repo to add temporary reserves to banking system. Fed adds $2 bln in overnight repos....a little to less... i would like to see zeros....HAHA
its just money
  • #23,986
  • Aug 13, 2007 9:27am Aug 13, 2007 9:27am
Quoting mikewong
Hey cesarnc,

Thanks!

What if the FED follow suit? I know may sound rookie-ish..but i'm new in this and don't really know how news affects this...

want to educate myself in forex as much as possible.

Cheers,
Mike
Sorry mike, I missed your post.

FED pumping cash push dollar down. Also favours the stock market and carry trades in extension.

Quote
Fed says conducts overnight repo to add temporary reserves to banking system. Fed adds $2 bln in overnight repos....a little to less... i would like to see zeros....HAHA

Yeah... I didn't get out of bed to see $ 2bln
  • #23,987
  • Aug 13, 2007 9:28am Aug 13, 2007 9:28am
Quoting OrionsWay
Sun, the Ma's become powerful because one of the key elements of any market is TIME, not sure why certain Ma's represent such sup/res either. Like the 50 bar represent fair value. Must be part of the universal ebb and flow of cosmic radiations which affect the pysche of humans.
Ok, but most used MA's based on the close. The close is important on daily chart but not a 1min/5min/15min. And then what about using tick charts and not time.

Derrick Hobbs has a trade strategy in his book specifically trading against a 200 MA if a fib setup happens. Thats the way I like to use MA's. Trade against the crowd who are expecting something to happen when it doesn't. Bigger moves when most are caught going the wrong way.
  • #23,988
  • Aug 13, 2007 9:29am Aug 13, 2007 9:29am
Quoting cesarnc
I Swiss central bank on the wiers or something? USDCHF is popping out of nowhere...
USDCHF and EURCHF pushing higher on the back of NY bank buying and there should be more stops nearby....maybe this
its just money
  • #23,989
  • Aug 13, 2007 9:30am Aug 13, 2007 9:30am
Quoting de123
USDCHF and EURCHF pushing higher on the back of NY bank buying and there should be more stops nearby....maybe this
Money flowing out of the "safe heaven", yeah
  • #23,990
  • Aug 13, 2007 9:31am Aug 13, 2007 9:31am
Quoting de123
Fed says conducts overnight repo to add temporary reserves to banking system. Fed adds $2 bln in overnight repos....a little to less... i would like to see zeros....HAHA
I'd like to see more like Euro banks like BPN get stuck with our lousy subprime mortgages.

  • #23,991
  • Aug 13, 2007 9:33am Aug 13, 2007 9:33am
Quoting cesarnc
Sorry mike, I missed your post.

FED pumping cash push dollar down. Also favours the stock market and carry trades in extension.



Yeah... I didn't get out of bed to see $ 2bln

No worries cesar,
but if feds were pumping cash to push dollar down, eur/usd just went lower...this is all confusing...

why would this favour stock markets and carry trades? sorry for asking so much...
  • #23,992
  • Aug 13, 2007 9:34am Aug 13, 2007 9:34am
Sorry mike, I missed your post.

FED pumping cash push dollar down. Also favours the stock market and carry trades in extension.


Don't forget that more greens out there could be interpreted as inflation going up.... which will translate to rates not coming down any time soon...guess cable is between a rock and a hard place !!!!
For he that would be deceived, let him.
  • #23,993
  • Aug 13, 2007 9:34am Aug 13, 2007 9:34am
Sun absolutely the pro is selling when crowd is buying or vice versa. I trade against the crowd as well
"Millionaires don't use astrology, billionaires do"
  • #23,994
  • Aug 13, 2007 9:38am Aug 13, 2007 9:38am
Now we know why Bravado´s been so busy.......

http://www.elitetrader.com/vb/attach...&postid=722067
Trading Levels with WRBs
  • #23,995
  • Aug 13, 2007 9:39am Aug 13, 2007 9:39am
Quoting mikewong
No worries cesar,
but if feds were pumping cash to push dollar down, eur/usd just went lower...this is all confusing...

why would this favour stock markets and carry trades? sorry for asking so much...

Mike, the ECB which is like the U.S. Fed of Europe has pumped hundreds of billions of dollars into their system. This will cause devaluation in the euro.
  • #23,996
  • Aug 13, 2007 9:39am Aug 13, 2007 9:39am
Quoting SunTrader
I'd like to see more like Euro banks like BPN get stuck with our lousy subprime mortgages.

LOL...They sure pick a market....prices went down, the ppl still stuck with credits....i hope they hedge it with CHFs.... or they will loose a fortune ...thats why the rush...

Cesar...let them come back to safe heaven....long gold long...700 on the way...its stuck now at 670....blah, we wona see 66 B cash minimum....then i can say hello brasil....
its just money
  • #23,997
  • Aug 13, 2007 9:45am Aug 13, 2007 9:45am
Quoting danegg7
Mike, the ECB which is like the U.S. Fed of Europe has pumped hundreds of billions of dollars into their system. This will cause devaluation in the euro.
why is ECB pumping dollars into their system? is it because euro banks are also being hit by liquidity problems which caused by investment in CDOs in the US?
  • #23,998
  • Aug 13, 2007 9:46am Aug 13, 2007 9:46am
Love those gold bugs. Buy gold now. Hide it under your bed for a rainy day.

Funny story in book Pit Bull.
  • #23,999
  • Aug 13, 2007 9:47am Aug 13, 2007 9:47am
Quoting Islander
Now we know why Bravado´s been so busy.......

http://www.elitetrader.com/vb/attach...&postid=722067
lol
  • #24,000
  • Aug 13, 2007 9:49am Aug 13, 2007 9:49am
Quoting mikewong
No worries cesar,

why would this favour stock markets and carry trades? sorry for asking so much...
Try leaning about carry trades on the web. Too much information, tricky business related to carry trades. I would have to post 10,000 words-wide post here

Investopedia.com is one nice source
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