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Cable Update (GBPUSD)

  • #46,701
  • Dec 22, 2007 10:55am Dec 22, 2007 10:55am
Im long everyone and their uncle is shorting Pound now, so big monsy is surely covering there 2.10 shorts around here. England needs a strong currency more than anything since a majority of their GDP is based in financial services. Their government will do whatever it takes to protect thier future. The EUR strength against the Pound is good for GBP "exports" but surely that is due for a bit of a correction as well. Good luck all.
  • #46,702
  • Dec 22, 2007 12:56pm Dec 22, 2007 12:56pm
Quoting FXdaily
Yes i understand thanks for explaining but there is no reasons bush cable DOWN.Take a look cable is oversold and im sure we going next 2 weeks only UP.
Why price falls DOWN all way is that USD is not strong but GBP was shit.
The only sure thing in this market is that it will move up/down/sideways. Rationale, unjustified movements, need and other hopes will not make the GBP move. Traders trading will move the market. From my past experience the forex markets move more that one would think in any direction. Price tends to overextend in its current direction. Picking a top or bottom is the perfect recipe for loosing big. A trend change is usually proceeded by a sharp pip move with sharp snap back. Usually and I emphasize usually a long wick is on multiple time frame candles like 4hr, 1hr 30min, 15 min candle.

It matters not now the reason or reasons the cable is down all we need to know is that it is down till it demonstrates charactoristics of moving back up.
  • #46,703
  • Dec 22, 2007 1:08pm Dec 22, 2007 1:08pm
I think the gbp/usd is going up so im long...

What i would like to know is what IMO means as im new to all this lingo.!
  • #46,704
  • Dec 22, 2007 1:12pm Dec 22, 2007 1:12pm
IMO means "In My Opinion"
  • #46,705
  • Dec 22, 2007 1:31pm Dec 22, 2007 1:31pm
Just one question! Why does it matter if the GBP moves up? As a trader I do not theoretically care whether the GBP/USD moves up or down. All I care is that it moves and I am on the right side of the movement to make some pips. I see so many post of why this and why that.

Now I do pay attention to all the fundamentals and technicals so that I can have better probability in my trades. All trading is probabilities with the fundamentals and technicals underlying price movement. All opinions and hopes and other reasons that people think a currency should do are just there own hopes most of the time.

So, why does it matter if the GBP moves up or down? Shouldn't we all just want it to move in either direction so we can trade and make our pips. If you are a true trader you only care that it moves strongly in either direction so that you can get your pips.

So GBP bulls, forget your wishes and look at the charts. If you can find me a chart other than a monthly chart, which confirms a long term bull trend, then please post.

Seem some of you cannot see the forest for the trees, step back, look at your charts, then make good decisions based upon what you are seeing not what you hope will happen.

Happy Trading
  • #46,706
  • Dec 22, 2007 1:44pm Dec 22, 2007 1:44pm
it only matters if one is holding a long position lol
  • #46,707
  • Dec 22, 2007 2:42pm Dec 22, 2007 2:42pm
Quoting XLInvestor
IMO means "In My Opinion"
Thank you for answering my question.! And its wood throw the trees, not forest.That is where i come from.
I agree with you.We must find a way to beat the big boys in the city/around the world for we are little fish in a big pond .As for help im willing to join in.
Trouble with this forum i have found is theres too much bickerying going on!
I for 1 have join in up cable down ect .We need to find a solution fast as i have only been trading for little over a month.Been blown out the water many times , but am still here learning from you guys an gals .
I have gone agaist my method many times and held a deep breath as i have lost many times .Now it is pay back time .
I understand were only here to make pips ,but lets try and do it together ,all for one .
Now you want a speech ,well ive run out of ideads .
Thanks for answering my question!
Pond at the bottom of garden .:surprised
  • #46,708
  • Dec 22, 2007 3:03pm Dec 22, 2007 3:03pm
I have to say that as of late I have been posting more and more. I have been a professional trader int he forex for 5 years and in equities and options for 15 years, not that it matters much, you are only as good as your last trade in this world. I Would put my statement up against anyone, but that is not the point either.

I too have sen mostly a bunch of bologna on this thread, as there are a few places for traders to work in harmony. I am willing to help or collaborate with serious traders or newbies. I would be willing to do some live trading with those interested maybe on skype or yahoo or something that is available to all free. Feel free to contact me private message and if your are serious and not a loudmouth then lets see if we can make some pips.
  • #46,709
  • Dec 22, 2007 3:19pm Dec 22, 2007 3:19pm
Dear Fxdaily : I trust ur OPINION and I need it these days.
Do u think it will down tell 1.9760 on Monday ?
Its important for me ( IM BLEEDING TO DEATH )
  • #46,710
  • Dec 22, 2007 3:20pm Dec 22, 2007 3:20pm
Quoting FXdaily
IM LONG in 1.9847 6 LOT and 1.9816 more 6 LOT LONG in ...
Looking for ~2.0 area next week.
Dear Fxdaily : I trust ur OPINION and I need it these days.
Do u think it will down tell 1.9760 on Monday ?
Its important for me ( IM BLEEDING TO DEATH )

http://www.forexfactory.com/images/misc/progress.gif

  • #46,711
  • Dec 22, 2007 3:22pm Dec 22, 2007 3:22pm
XLI nvestor,hello too you ...I have been investing long ,so i do think i would be much help to you .Alls i would be doing it picking information off you .!But im getting there slowly ..They didnt build Rome in a day .so im willing to help you ,kind regards
  • #46,712
  • Dec 22, 2007 4:37pm Dec 22, 2007 4:37pm
Quoting XLInvestor
It matters not now the reason or reasons the cable is down all we need to know is that it is down till it demonstrates charactoristics of moving back up.
Would you agree with this:

The current pause at 19810 so far is just that, a pause (though it could turn into something different over the next day or so), apparently on the way down to 19650
Darkness lies one inch ahead..
  • #46,713
  • Dec 22, 2007 4:57pm Dec 22, 2007 4:57pm
I will say this. Holiday trading will be difficult at best. I suspect the market will be in a very tight range till the London open after Christmas. As far as a pause, the 1.9810 level is a support level at this point.

I read a comment about bleeding to death and let me make this point. If you are trading the forex IMO you must have an account you can hedge .

This may be pointless to say to most traders but the most important thing in trading is your exit. This is my number one rule in trading period. If you fail to understand this rule you will fail as a trader.

Happy Trading
  • #46,714
  • Dec 22, 2007 5:21pm Dec 22, 2007 5:21pm
Quoting XLInvestor
I will say this. Holiday trading will be difficult at best. I suspect the market will be in a very tight range till the London open after Christmas. As far as a pause, the 1.9810 level is a support level at this point.
Is there any rational way of assessing whether price is likely to move down to 19650 or not? FWIW the latter shows as a fib level on both the latest H1 and D1 swings => "fib convergence" (?)
Darkness lies one inch ahead..
  • #46,715
  • Dec 22, 2007 7:26pm Dec 22, 2007 7:26pm
Quoting TraderJR
Is there any rational way of assessing whether price is likely to move down to 19650 or not? FWIW the latter shows as a fib level on both the latest H1 and D1 swings => "fib convergence" (?)
yes there are rational ways of assessing if its going futher down, but there are also rational explanations for the upward direction as well.
  • #46,716
  • Dec 22, 2007 7:54pm Dec 22, 2007 7:54pm
Quoting AmeriTrini
yes there are rational ways of assessing if its going futher down, but there are also rational explanations for the upward direction as well.
In terms of probabilities, which is more likely and why?
Darkness lies one inch ahead..
  • #46,717
  • Dec 23, 2007 12:25am Dec 23, 2007 12:25am
Quoting FXdaily
Yes i understand thanks for explaining but there is no reasons bush cable DOWN.Take a look cable is oversold and im sure we going next 2 weeks only UP.
Why price falls DOWN all way is that USD is not strong but GBP was shit.
Systematically MArket already break the fibo and will reach next target fibo which is 9650 so for now we are not sure that it will go up

it should go DOWN all the way as i told you near 20 times cable stop at 9880!

and 15 times cable stop at 9808 so right now very risky to tell all thing!

just wait for right direction MOnday!!!!!
  • #46,718
  • Dec 23, 2007 2:40am Dec 23, 2007 2:40am
Quoting FXdaily
Yes i understand thanks for explaining but there is no reasons bush cable DOWN.Take a look cable is oversold and im sure we going next 2 weeks only UP.
Why price falls DOWN all way is that USD is not strong but GBP was shit.
Dear Fxdaily : I trust ur OPINION and I need it these days.
Do u think it will down tell 1.9760 on Monday ?
Its important for me ( IM BLEEDING TO DEATH )

http://www.forexfactory.com/images/misc/progress.gif

  • #46,719
  • Dec 23, 2007 3:00am Dec 23, 2007 3:00am
Quoting Im lost
Dear Fxdaily : I trust ur OPINION and I need it these days.
Do u think it will down tell 1.9760 on Monday ?
Its important for me ( IM BLEEDING TO DEATH )

http://www.forexfactory.com/images/misc/progress.gif

I say ju that buddy ..be ready if market opened today then go LONG right now if its opened and enjoy pipses
  • #46,720
  • Dec 23, 2007 3:01am Dec 23, 2007 3:01am
Quoting Designer1
Systematically MArket already break the fibo and will reach next target fibo which is 9650 so for now we are not sure that it will go up

it should go DOWN all the way as i told you near 20 times cable stop at 9880!

and 15 times cable stop at 9808 so right now very risky to tell all thing!

just wait for right direction MOnday!!!!!
No this week candle ends headed UP.
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