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Help needed in OANDA + users from Malaysia 105 replies

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  • #2,161
  • Nov 18, 2007 6:47pm Nov 18, 2007 6:47pm
Quoting Matrixxdg
Hi All,
Ran across this in my travels. Pretty interesting view on the cable. Thought I would share. Have a GREAT weekend and be safe!!

MG

++++++++++++++++++++
"GBP/USD has now reached critical medium-term trend-line support dating back to August, and as such, moves over the next few days should provide
a clearer picture of the direction the pair decides to take. A break and close below the trend-line support which comes in just under today"s lows at 2.0330 would trigger a fresh round of selling to open a retreat back to the 2.00 handle.

ALSO>>>>>>

11:50 GMT November 16 Tripped sell stops below 2.0400-05 and 2.0380 helped depress cable to 24-day lows just shy of 2.0350 during the European morning, as the pound continued to suffer on UK rate cut fears. The probability of a 25bp UK rate cut to 5.5% as early as next month has risen on the back of yesterday"s disappointing UK retail sales data and Wednesday"s dovish BoE inflation report.


If there is a UK rate cut on December 6, it is unlikely to be a one-off
"insurance" move as per August 2005. A leading French bank is forecasting that the UK base rate will be 4.5% at the end of next year.


The Nationwide forecasts that annualized UK house price inflation will fall
to zero next year, from 9.7% at present (Times website).


2.0335 (100-day moving average) and 2.0320 (2% MA band) are support points south of 2.0350. Sterling resistance levels include 2.0407 (today"s Asian session base), 2.0418 (yesterday"s floor), 2.0455, 2.0483 and 2.0500-05.


US TIC data is due at 14:00GMT today. Minutes from the November 7/8 BoE MPC meeting will be published next week (Nov 21).
Thank you Friend for the info... This is the "dilemma" that some of us having right now in doing FA. We all know that the BOE rate CUT is on the air. Thus, BEARISH market. However at the same time... CHINA keep on making statement about moving reserve and selling dollar. Rumors from the Middle East also saying more Dollar "dumping". This would weaken the DOLLAR... meaning BULLISH market. It's gonna be PING PONG PING PONG until the year end

Anyway... out of positioning... long term trading now... concentrate on INTRADAY.... BULL or BEAR... just FOLLOW Money Management wisely guyz... gurlz as well

Quoting zankuha
Ahmadinejad: OPEC Members Interested in Converting Cash Reserves Into Non-Dollar Currency

http://biz.yahoo.com/ap/071118/opec.html
  • #2,162
  • Nov 18, 2007 6:48pm Nov 18, 2007 6:48pm
Just waiting the GU breaking the support and resistance line.

Shamx ur comments.
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  • #2,163
  • Edited 7:08pm Nov 18, 2007 6:49pm | Edited 7:08pm
Quoting matsaleh
Just waiting the GU breaking the support and resistance line.

Shamx ur comments.
NICE ONE Bro! It's either gonna be BREAKOUT or staying still in the CHANNEL. Prepare for both. Seems like BULL Bias at least until the LONDON OPEN... there's where the REAL Business begin.

p/s: 161.8% Fibbo extension remains FIRM as right now.
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  • #2,164
  • Nov 18, 2007 6:55pm Nov 18, 2007 6:55pm
Quoting tkh33
GOOD MORNING ALL THE FA AND TA. MUST HAVE A GOOD DISCUSSION YESTERDAY. ANY GOOD THINGS TO SHARE IN THE FORUM?
There is one thing I can't share with you in here... All the jokes we've made during the discussion
  • #2,165
  • Nov 18, 2007 7:27pm Nov 18, 2007 7:27pm
This gonna be my 1st Entry for the week. I think I might BFD when the teddy bear touch that 20 wma on M15 chart or touching the SUPPORT TREND LINE (orange)... With tight SL Just scalping for a few pips... to warm up

A.Y.O.R >>> At your own risk!!!
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  • #2,166
  • Nov 18, 2007 7:46pm Nov 18, 2007 7:46pm
BFD triggered TP 10 pips... SL 10 pips. Scalping to warm up.

This data this morning showing the SUBPRIME problem invading UK now... however... the strengthening of the EURO been dragging Cable Up. I am expecting lots of BEAR action during LONDON OPEN As right now... just following Euro.

8:01am GBP http://www.forexfactory.com/images/m...act_medium.gif Rightmove House Price Index m/m -0.7% 2.7%
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  • #2,167
  • Nov 18, 2007 7:55pm Nov 18, 2007 7:55pm
Lots of springy action on that yellow line right now. I am a bit skeptical about my 10 pips SL. Placing it below the 30 sma (Purple line)would be safer but then.... the ODD gonna against me. That would be risking 20 pips for 10 pips gain
  • #2,168
  • Nov 18, 2007 7:56pm Nov 18, 2007 7:56pm
Hi All,
I was in at 556 and looking to get out at the 61.8% FIBS if it holds. Up 8 so far. If it clears the 50% Fib where it's at now it should drop on to my TP.

MG
  • #2,169
  • Nov 18, 2007 8:01pm Nov 18, 2007 8:01pm
Quoting Matrixxdg
Hi All,
I was in at 556 and looking to get out at the 61.8% FIBS if it holds. Up 8 so far. If it clears the 50% Fib where it's at now it should drop on to my TP.

MG
That would be around 9pm Sunday over there : Can't wait till Monday in US huh

Seems like you are SHORTing... it's tricky isn't it? FA saying BEAR but Euro seems HALTING the Cable from dropping. Now.. seems like the EURO is starting to RETRACE... you might win this one and my SL gonna hit soon
  • #2,170
  • Nov 18, 2007 8:06pm Nov 18, 2007 8:06pm
Hi M,
It's now 20:00 where I'm at...Central Time. Yeah I'm short playing with Fib Retracement on a 15M Chart. Double doji now so it could go either way.

MG
  • #2,171
  • Nov 18, 2007 8:12pm Nov 18, 2007 8:12pm
Well it's trying...there ity goes.. YAHOOOO
  • #2,172
  • Nov 18, 2007 8:17pm Nov 18, 2007 8:17pm
Hi M,

I'm out at 443 for +13pips .... Nice way to start the night.

MG
  • #2,173
  • Nov 18, 2007 8:17pm Nov 18, 2007 8:17pm
Quoting Matrixxdg
Well it's trying...there ity goes.. YAHOOOO
Good for you Matrix! As for me ... 3 pips away from SL Shall I change SL below 30 sma? Hmmmm... better NOT. Let this one burn... There's always another FRESH entry

p/s: Still experimenting my messed up chart from last week Don't follow this example... BAD BOY I am
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  • #2,174
  • Nov 18, 2007 8:22pm Nov 18, 2007 8:22pm
It's probing the 61.8% FIB lin on the 15 M. I should have taken half off, moved my SL to BE and let this other lot run.... I'll know next time.

Chart looks interesting. Air Traffic Control screen at the airport.

MG
  • #2,175
  • Nov 18, 2007 8:28pm Nov 18, 2007 8:28pm
Quoting Matrixxdg
It's probing the 61.8% FIB lin on the 15 M. I should have taken half off, moved my SL to BE and let this other lot run.... I'll know next time.

Chart looks interesting. Air Traffic Control screen at the airport.

MG
The only different is... can't CONTROL this traffic. If only I can control the market.....

p/s: Euro seems stop from retracing further after touching middle BB on M15. My SL still surviving. If Euro start Bulling UP... I might have the chance.
  • #2,176
  • Nov 18, 2007 8:36pm Nov 18, 2007 8:36pm
Ok. All... I reversed the FIB and lets see if we can get something on the bounce.

MG

http://www.tradecore.us/ff/1.png
  • #2,177
  • Nov 18, 2007 8:41pm Nov 18, 2007 8:41pm
Just probed the 30SMA... let's see if it gives up now and comes home to PAPA.

Ha!!! You never know what Mother Market is going to do.... just like a woman.
  • #2,178
  • Nov 18, 2007 8:43pm Nov 18, 2007 8:43pm
Quoting Matrixxdg
Ok. All... I reversed the FIB and lets see if we can get something on the bounce.

MG
Forget about it... Euro breaking that middle BB already... My SL got hit ... What a "cholesterol burning" warm up for Monday Morning Fisherman says: Sometime you have to sacrifice small fish to catch the BIG fish.

p/s: Going out now to have some BREAKFAST... stomach empty... not good to trade
  • #2,179
  • Nov 18, 2007 8:44pm Nov 18, 2007 8:44pm
Quoting matsaleh
Just waiting the GU breaking the support and resistance line.

Shamx ur comments.
GU broke support line, I'm short @ 2.550 with SL above fibo 161.8.
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  • #2,180
  • Nov 18, 2007 8:58pm Nov 18, 2007 8:58pm
Quoting matsaleh
GU broke support line, I'm short @ 2.550 with SL above fibo 161.8.
Good Luck Bro! If that 20 wma on M30 is as weak as on the M15... The GREEN pips gonna be on your side. As right now... I am out of the market for a while... got to observe and tune in with the market psychology first. I was out of tune just now
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