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Cable Update (GBPUSD)

  • #33,321
  • Sep 30, 2007 10:08am Sep 30, 2007 10:08am
Here my analysis for next week.
We have different views.. Anyway lets the market make the decision where to go..
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 24 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #33,322
  • Sep 30, 2007 12:12pm Sep 30, 2007 12:12pm
I think it will come down to test the "resistance turn into support" downward trend line that it break last week before resuming uptrend.
  • #33,323
  • Sep 30, 2007 12:53pm Sep 30, 2007 12:53pm
Does anyone really need an indicator to tell them US$ is oversold.

OB/OS are meaningless if the trend under way just continues to go further in the same direction. All that means is OB/OS continue to become more OB/OS.
  • #33,324
  • Sep 30, 2007 12:59pm Sep 30, 2007 12:59pm
Quoting SunTrader
Does anyone really need an indicator to tell them US$ is oversold.

OB/OS are meaningless if the trend under way just continues to go further in the same direction. All that means is OB/OS continue to become more OB/OS.
I've said 10000000 times... If a currency is oversold/overbought it can stay like that for a month and go 2000 pips... who the phukk cares about the OB/OS thing??? No really...
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  • #33,325
  • Sep 30, 2007 1:06pm Sep 30, 2007 1:06pm
I prefer to go with the trend finding good entries, keep risk down, rather than specifically loooking for OS/OB... there have been times where pairs have been classed as OS/OB by indicators for weeks at a time on the indicators.
  • #33,326
  • Sep 30, 2007 1:22pm Sep 30, 2007 1:22pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
what defines OB/OS, surely if the bank keeps printing they can keep selling and we can keep buying.

OS/OB compared to previous times maybe, but times change and the dominating currency changes with it, you only have to look back 60 years to see that the UK was in the same position, every thing was based on the pound, BIg War, everything based on the Dollar.

so where are we now, everything based on the Dollar, big war (this time involves the 2 biggest currency's GBP and USD), Euro? it's being quoted aginst Oil, gold, diamonds - so is it time for change.

If so were will it leave the dollar, or for that fact the pound?

only time will tell.

dose it make a differnce to us - NO, trade what you see in your indicators.

only ones i feel sorry for are the traders with $accounts
  • #33,327
  • Sep 30, 2007 1:33pm Sep 30, 2007 1:33pm
Quoting MPP
.............. only ones i feel sorry for are the traders with $accounts

Why, I am not planning on going to Europe anytime soon. Been there, done that. Weaker US$ makes our exports cheaper and European imports to us more expensive. In case the Germans haven't got the memo Lexus(Toyota) makes the best luxo sedan these days. And USDJPY hasn't had any dramatic changes yet. German beers still rocks though, but how much does exchange rates affect the price of a six-pack. LOL.
  • #33,328
  • Sep 30, 2007 1:33pm Sep 30, 2007 1:33pm
Quoting MPP
what defines OB/OS, surely if the bank keeps printing they can keep selling and we can keep buying.

OS/OB compared to previous times maybe, but times change and the dominating currency changes with it, you only have to look back 60 years to see that the UK was in the same position, every thing was based on the pound, BIg War, everything based on the Dollar.

so where are we now, everything based on the Dollar, big war (this time involves the 2 biggest currency's GBP and USD), Euro? it's being quoted aginst Oil, gold, diamonds - so is it time for change.

If so were will it leave the dollar, or for that fact the pound?

only time will tell.

dose it make a differnce to us - NO, trade what you see in your indicators.

only ones i feel sorry for are the traders with $accounts
Pheewww, I have a GBP account.... :
.
  • #33,329
  • Sep 30, 2007 1:42pm Sep 30, 2007 1:42pm
Quoting bullrock
I think more and there is 60% chance to that...
Maybe wisdom says take what I have now and buy after the retracement....
  • #33,330
  • Sep 30, 2007 2:26pm Sep 30, 2007 2:26pm
I think wisdom was to get out friday, but since that didn't happen then its best to just watch how the open goes and maybe the succeeding hours and decide.
  • #33,331
  • Sep 30, 2007 2:35pm Sep 30, 2007 2:35pm
I've recalculated, recalculated, recalculated, recalculated, recalculated, recalculated and I dont know.
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  • #33,332
  • Sep 30, 2007 2:42pm Sep 30, 2007 2:42pm
Enter Short 2.0485 Targeting 2.0350 with profit 135 Pips.
  • #33,333
  • Sep 30, 2007 2:44pm Sep 30, 2007 2:44pm
Quoting Abuawad
Enter Short 2.0485 Targeting 2.0350 with profit 135 Pips.
At least this is a plan...
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  • #33,334
  • Sep 30, 2007 2:58pm Sep 30, 2007 2:58pm
Quoting bullrock
At least this is a plan...

what is so funny!!!
http://www.tradingcentral.com/chart/...0928215109.GIF
  • #33,335
  • Sep 30, 2007 3:04pm Sep 30, 2007 3:04pm
Yeah, can't you see the arrow pointing down. Geez.
  • #33,336
  • Sep 30, 2007 3:06pm Sep 30, 2007 3:06pm
Quoting Abuawad
what is so funny!!!
http://www.tradingcentral.com/chart/...0928215109.GIF
Nothing i've just lost control and this is just a sort of nervous laugh... All aftrenoon I was staring at the chart of GU and just cannot decide...
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  • #33,337
  • Sep 30, 2007 3:09pm Sep 30, 2007 3:09pm
Quoting SunTrader
Yeah, can't you see the arrow pointing down. Geez.

oh yah this is FXCM technical analysis and her is the complete text in this analysis:
Pivot: 2.0485

Our preference: Short positions below 2.0485 with targets @ 2.038 & 2.035 in extension.

Alternative scenario: Above 2.0485 look for further upside with 2.0525 & 2.055 as targets.

Comment: the 30-min RSI is facing a strong resistance area


I didn't bring something from my mind, you can take it or leave it it’s up to you. but let’s see how will laugh by the end of the day
  • #33,338
  • Sep 30, 2007 3:11pm Sep 30, 2007 3:11pm
Quoting Abuawad
oh yah this is FXCM technical analysis and her is the complete text in this analysis:
Pivot: 2.0485

Our preference: Short positions below 2.0485 with targets @ 2.038 & 2.035 in extension.

Alternative scenario: Above 2.0485 look for further upside with 2.0525 & 2.055 as targets.

Comment: the 30-min RSI is facing a strong resistance area


I didn't bring something from my mind, you can take it or leave it it’s up to you. but let’s see how will laugh by the end of the day
If you ask me my thoughts are more short than long but still undecided... We will see who will laugh... as you said wisely...
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  • #33,339
  • Sep 30, 2007 3:11pm Sep 30, 2007 3:11pm
Quoting bullrock
Nothing i've just lost control and this is just a sort of nervous laugh... All aftrenoon I was staring at the chart of GU and just cannot decide...

Fur sure I’m waiting your opinion J
  • #33,340
  • Sep 30, 2007 3:21pm Sep 30, 2007 3:21pm
I think I go long, stay long.
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