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Cable Update (GBPUSD)

  • #40,881
  • Nov 25, 2007 9:33am Nov 25, 2007 9:33am
Quoting 59fender
daily pivot 2.0636 if we stay above 2.0575 we should see a test of 2.0700 below 2.0575 it would appear a test of 1.0500 would seem likely I remain bullish at this time
WHAT!!!?? 2.0700 is below 2.0575 since when? and a test of 1.0500?? keep off the crack please.
  • #40,882
  • Nov 25, 2007 9:36am Nov 25, 2007 9:36am
Quoting Scrat
well, given the fact that US economy seems to be driven by how much americans are consuming... i would say it's good news for dollar.
not necessarily, if americans or whoever for that matter spend more than they make, thats bad news. can we say even more credit crisis!!!
  • #40,883
  • Nov 25, 2007 9:38am Nov 25, 2007 9:38am
Quoting AmeriTrini
WHAT!!!?? 2.0700 is below 2.0575 since when? and a test of 1.0500?? keep off the crack please.
you need to read it again it says if we stay above 2.0575 it will most likely test 2.0700
  • #40,884
  • Nov 25, 2007 10:00am Nov 25, 2007 10:00am
Quoting JaiT
Don't trust Forex.com!
I'd have to agree with you there
  • #40,885
  • Nov 25, 2007 10:02am Nov 25, 2007 10:02am
Quoting fxbroker
It will be interesting to know how much of that was cash
payments and how much they put on their credit cards.
short term it doesn't matter as long as it was actually spent. most americans shop with credit during holiday seasons anyway. 1 day of spending is not going to save the dollar.
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #40,886
  • Nov 25, 2007 10:30am Nov 25, 2007 10:30am
Quoting sooperthug
hi i have been trying to find out why the market open is important to the trend for the day why is this.

I had a look at open and close prices for daily and 4hr calendars. I didnt notice anything, can someone explain this please?
Did you look at daily chart? if you do you will see that
the market is in a range, neither in bearish or bullish trend.

The bulls are trying to push it up from 2.0364 and the bears
are trying to push it down from 2.1166. As a retail trader
you must have enough money to lose if you want to take a
stand or bet on who will win. We are talking of +800 pips spread
between the stop losses of bears and bulls.(Their lines of defense
or position held by them)

Each day the positions held by the bulls (2.0364) and the bears
(2.1166) attracts and repels each other. When you wake up to
trade you must be able to know whose attraction is stronger.
it is like a tug of war. And the way a session opens
determines which direction will last for few hours to 24hrs.

How to find the right direction when market opens
is the eternal battles or nightmares for retail
traders. Some use all sort of indicators and trading strategies
and that is why we are all here.

For GBP/USD I have attached a strategy called bigben some
people claim it is good in determining direction and others
claimed it did not do well this year. I downloaded it to see
how it can be incorporated into my own strategy.
Attached File(s)
File Type: pdf bigben.pdf   597 KB | 531 downloads
  • #40,887
  • Nov 25, 2007 2:14pm Nov 25, 2007 2:14pm
Nice gap down....
"Lunch ? Lunch Is For Wimps !"
  • #40,888
  • Nov 25, 2007 2:19pm Nov 25, 2007 2:19pm
forget about it...going back up....I took my loss....69 pips....well deserved for not following the rules...
"Lunch ? Lunch Is For Wimps !"
  • #40,889
  • Nov 25, 2007 2:58pm Nov 25, 2007 2:58pm
Nice week to all...

Back to 0600 on Friday got me back to clueless status

I'll catch up with GJ tomorrow only.

Cya
  • #40,890
  • Nov 25, 2007 3:54pm Nov 25, 2007 3:54pm
Hi eveyone, hope you all have a good weekend.

This is what im going to do today.. sell at resistance somewhere at 2.0660 or higher, stoploss 30 pip, TP 2.0450.

Today, short all the way...
Tomorrow, long all the way...
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,891
  • Nov 25, 2007 4:00pm Nov 25, 2007 4:00pm
Quoting Qu|cksilver
Hi eveyone, hope you all have a good weekend.

This is what im going to do today.. sell at resistance somewhere at 2.0660 or higher, stoploss 30 pip, TP 2.0450.

Today, short all the way...
Tomorrow, long all the way...
hi good morning, may i know why u prefer short today instead of long?
  • #40,892
  • Nov 25, 2007 4:07pm Nov 25, 2007 4:07pm
Quoting tkh33
hi good morning, may i know why u prefer short today instead of long?
are you going long? could you tell me why you long?
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,893
  • Nov 25, 2007 4:21pm Nov 25, 2007 4:21pm
Quoting Qu|cksilver
are you going long? could you tell me why you long?
I SHORT THAT DAY AT 733 AND I LONG IT BACK WHEN TOUCH 525, I JUST TOOK MY LONG PROFIT SINCE IT CANT GO UP 50 FIBBO. BUT MOST OF THE NEWS FOR US LIKE NOT SO GOOD EG IR WILL CUT AGAIN, TRADER SELL DOLLAR, US STILL WEAK, THIS IS WHY I THINK GU WILL GO UP FURTHER. THIS IS WHAT I HAVE IN MY MIND, PLS ADVISE. TQ
  • #40,894
  • Nov 25, 2007 4:24pm Nov 25, 2007 4:24pm
Quoting tkh33
I SHORT THAT DAY AT 733 AND I LONG IT BACK WHEN TOUCH 525, I JUST TOOK MY LONG PROFIT SINCE IT CANT GO UP 50 FIBBO. BUT MOST OF THE NEWS FOR US LIKE NOT SO GOOD EG IR WILL CUT AGAIN, TRADER SELL DOLLAR, US STILL WEAK, THIS IS WHY I THINK GU WILL GO UP FURTHER. THIS IS WHAT I HAVE IN MY MIND, PLS ADVISE. TQ
tkh33, please off your CAPS. Thanks..


My chart look like this.. trade what you see, i might be wrong.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 80 KB
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,895
  • Nov 25, 2007 4:46pm Nov 25, 2007 4:46pm
Quoting Qu|cksilver
tkh33, please off your CAPS. Thanks..


My chart look like this.. trade what you see, i might be wrong.
THANK YOU. BY THE WAY, MAY I KNOW WHAT DOES IT MEANS BY " OFF YOUR CAPS" SORI, LEARNNING STAGE.
  • #40,896
  • Nov 25, 2007 5:01pm Nov 25, 2007 5:01pm
Quoting tkh33
THANK YOU. BY THE WAY, MAY I KNOW WHAT DOES IT MEANS BY " OFF YOUR CAPS" SORI, LEARNNING STAGE.
Don't use all capital letter.. its like shouting!
"Invest With The Insiders, Not The Masses" George Muzea
  • #40,897
  • Nov 25, 2007 5:06pm Nov 25, 2007 5:06pm
Quoting Qu|cksilver
Don't use all capital letter.. its like shouting!
thank you for the infor, no more next time, sori sori
  • #40,898
  • Nov 25, 2007 5:33pm Nov 25, 2007 5:33pm
lol tkh33..

Any ideas where GBP USD gonna head today?
  • #40,899
  • Nov 25, 2007 5:51pm Nov 25, 2007 5:51pm
Quoting lyy.sg
lol tkh33..

Any ideas where GBP USD gonna head today?
i actually no idea, just follow and learn from all of u here. how abt u lyy?
  • #40,900
  • Edited 6:14pm Nov 25, 2007 5:56pm | Edited 6:14pm
Quoting tkh33
THANK YOU. BY THE WAY, MAY I KNOW WHAT DOES IT MEANS BY " OFF YOUR CAPS" SORI, LEARNNING STAGE.


no wonder he kept on typing with CAPS ON. learning stage explains it all. i had the same prob few years ago.. natural.
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