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Cable Update (GBPUSD)

  • #34,761
  • Oct 9, 2007 2:32pm Oct 9, 2007 2:32pm
It is way out of the downward channel of yesterday, I really do not see it coming down. I do not see it going too up either, it is already pretty high as it is, I think it will be choppy until we get some news (no news tomorrow).
"Lunch ? Lunch Is For Wimps !"
  • #34,762
  • Oct 9, 2007 2:39pm Oct 9, 2007 2:39pm
Next resistence is at 2.0376 (fibo level, that's where I think it will flirt for a while), then after that it would be all the way up at 2.0446....
"Lunch ? Lunch Is For Wimps !"
  • #34,763
  • Oct 9, 2007 2:46pm Oct 9, 2007 2:46pm
Up Up, Up we go !!!!!
"Lunch ? Lunch Is For Wimps !"
  • #34,764
  • Oct 9, 2007 2:49pm Oct 9, 2007 2:49pm
Quoting MrFuture
It is way out of the downward channel of yesterday, I really do not see it coming down. I do not see it going too up either, it is already pretty high as it is, I think it will be choppy until we get some news (no news tomorrow).
It will chop itself upwards... Like an idiot....
.
  • #34,765
  • Oct 9, 2007 2:54pm Oct 9, 2007 2:54pm
I am mad 'cause this morning I was going short with great 88 pips on my pocket, but as and idiot I waited and it went up suddenly and I was only able to keep 9 miserable pips, out of the 88 !!!!

Now I was hesitant to get in but as soon as I saw the breaking of the 50 fibo and the 62ema I took the risk. Quickest 15 pips I took in a while....

Let's see if it will get stuck in the 2.0380 level now or it continues to go up...
"Lunch ? Lunch Is For Wimps !"
  • #34,766
  • Oct 9, 2007 3:05pm Oct 9, 2007 3:05pm
Usually when you have no news it is mainly a game for technical analysts.

But in this case, we also have to consider the delicate situation with the dollar right now: will people buy the pound as they see a weak future for the dollar, or will people buy the dollar as a result of optimism that the situation will improve ?

Even with no news, the commentaries of analysts can have an impact: the biggest concern right now for the dollar is that most people are saying that the mortgage crisis will hit its bottom only in 2009 (according to S&P today).

Also an article on Fortune indicated that all the ARMs that were initiated in 2005 and 2006 will start to adjust to fixed in the following 2,3 and sometimes 5 years. About 30 to 40% of all USA mortgages last year were ARMs !!!!

That's pretty alarming....

Now people can say "yes, but if they lower the rates then people will be able to adjust those ARMs for lower rates."

Possibly, yet it will not solve the over-supply of homes problem we are having (as I am typing from downtown Miami, I see about 25 new condos under construction from my office....it will take forever before they sell them).

Most importantly, lower rates will result in a weaker dollar.

The only thing that can save this situation is if other countries get together and "save" the dollar to protect their own interests (eg. a more cheap export of their goods).

Only time will tell I guess....however I do firmly believe that if a dermocrat wins the elections, the world will once again embrace the USA, the war will finish and the "90's Clinton optimism" will be back pushing the USA back on top. It is all a cycle anyways....ups and downs...
"Lunch ? Lunch Is For Wimps !"
  • #34,767
  • Oct 9, 2007 3:05pm Oct 9, 2007 3:05pm
Recent days' summary. Just to prove how forex is easy.

cable went down with the strong NFP, then erased the move just to, on Monday, erase the erased move and on Tuesday erase back the already erased erased move...

How can anybody NOT understand this?
  • #34,768
  • Oct 9, 2007 3:13pm Oct 9, 2007 3:13pm
Quoting cesarnc
Recent days' summary. Just to prove how forex is easy.

cable went down with the strong NFP, then erased the move just to, on Monday, erase the erased move and on Tuesday erase back the already erased erased move...

How can anybody NOT understand this?
its just money
  • #34,769
  • Oct 9, 2007 3:25pm Oct 9, 2007 3:25pm
Quoting cesarnc
Recent days' summary. Just to prove how forex is easy.

cable went down with the strong NFP, then erased the move just to, on Monday, erase the erased move and on Tuesday erase back the already erased erased move...

How can anybody NOT understand this?
Best darn 'Forex For Newbies' I've ever seen
Cable is my sugardaddy
  • #34,770
  • Oct 9, 2007 3:37pm Oct 9, 2007 3:37pm
Quoting cesarnc
Recent day's summary. Just to prove how forex is easy.

cable went down with the strong NFP, then erased the move just to, on Monday, erase the erased move and on Tuesday erase back the already erased erased move...

How can anybody NOT understand this?
I dont want to appear like a pro also dont want to act as superior specially in front of you Cesar coz I see you as my only friend from Brazil

yes from two weeks the cable hasnt any direction, that's why all my trades in it are day trades all this time beside GJ,GCHF,GN which have great short term trends and very profitable
the last one fu**ed me today in 8K+ but I recovered

playing in short TF isnt hard and dont need any indicators (I know you dont like them)

I see a guy in a chat group, did it in 5M E-mini S&P charts, he using a triangles and counting EWs and Wolf Waves and then he playing on the breakout of the triangle, and he doing very well

and coz I'm a very bad EW counter and dont know anything about WW I copied his method as triangles only and in 30,15 TFs and sometimes 5M
and I found it very profitable
accordig to it, I was short from yestarday aiming 276 and to reverse from there

the chart attached
as you see, no indicators, no wave counting
if you want his charts I have a huge number of them

there is no easy job in the world, but there is more profitable jobs and forex from them

just trying to help my friend and I hope he didnt get me wrong
Attached Image (click to enlarge)
Click to Enlarge Name: gu 30.gif Size: 23 KB
  • #34,771
  • Oct 9, 2007 3:40pm Oct 9, 2007 3:40pm
Quoting bohogirl
Best darn 'Forex For Newbies' I've ever seen
You know what? The real fun begins at 0425 and 1.4148, where the european sisters will turn their weekly candles bullish, after a 200 and 100 drop respectively...

Can you just imagine the number of bears sitting in their stoplosses right there?
Attached Image
  • #34,772
  • Oct 9, 2007 3:41pm Oct 9, 2007 3:41pm
This guy, Mr King from BOE just earned my respect !!! Thats how a financial authority should speak !! If you rolled the dice, you should put up with the consequences.

Now our SISSY here....Mr uncle Ben can't help but bail out the speculators. Sometimes I think that Bush, the FED, and this administration in general went to Brazil and took an intensive course on how to be crooks.
For he that would be deceived, let him.
  • #34,773
  • Oct 9, 2007 3:42pm Oct 9, 2007 3:42pm
[DJ] Bank of England Governor Mervyn King says the financial market turmoil is not over. King said that while conditions have eased, some markets remain virtually closed. "Even as they reopen, there will not be a return, I hope, to the excessive risk-taking - and associated rapid expansion of credit - of the past few years." King also reiterated that there are limits to what the bank will do. "If a fire starts in the financial system, the central bank will put it out if it threatens to spread," King said. "But fire services do not offer free insurance for people who smoke in bed or set fire to their own house."
  • #34,774
  • Oct 9, 2007 3:45pm Oct 9, 2007 3:45pm
Quoting benssol
"But fire services do not offer free insurance for people who smoke in bed or set fire to their own house."
  • #34,775
  • Oct 9, 2007 3:54pm Oct 9, 2007 3:54pm
Quoting bullrock
It wont come down it will go up that is what my coin says....
bullrock...,

k...these are my compliments to you...would you please call the governor to make it come down ? ..lol....

(Points to ponder ...If something has been overbought...where else can we buy at ? Do the govt reprint somemore of the papers or should someone sell some of theirs ?)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU_Weekly.jpg Size: 172 KB
Click to Enlarge Name: GU_Daily.jpg Size: 218 KB
Click to Enlarge Name: GU_4H.jpg Size: 218 KB
Click to Enlarge Name: GU_1H.jpg Size: 212 KB
  • #34,776
  • Oct 9, 2007 3:55pm Oct 9, 2007 3:55pm
Quoting cesarnc
  • #34,777
  • Oct 9, 2007 3:58pm Oct 9, 2007 3:58pm
Quoting VennD
bullrock...,

k...these are my compliments to you...would you please call the governor to make it come down ? ..lol....

(Points to ponder ...If something has been overbought...where else can we buy at ? Do the govt reprint somemore of the papers or should someone sell some of theirs ?)
cover your accounts numbers on the task bar
  • #34,778
  • Oct 9, 2007 4:21pm Oct 9, 2007 4:21pm
Quoting VennD
bullrock...,

k...these are my compliments to you...would you please call the governor to make it come down ? ..lol....

(Points to ponder ...If something has been overbought...where else can we buy at ? Do the govt reprint somemore of the papers or should someone sell some of theirs ?)
Oh... GOD.... My eyes, my eyes, my eyes....
What about being overbought for 884374932742 days and while you are chasing the top the fucker rides another 749327439824 pips????
.
  • #34,779
  • Oct 9, 2007 6:26pm Oct 9, 2007 6:26pm
Quoting bullrock
Oh... GOD.... My eyes, my eyes, my eyes....
What about being overbought for 884374932742 days and while you are chasing the top the fucker rides another 749327439824 pips????


I love the OS/OB folks.
  • #34,780
  • Oct 9, 2007 6:45pm Oct 9, 2007 6:45pm


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