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Cable Update (GBPUSD)

  • #47,961
  • Jan 3, 2008 6:44am Jan 3, 2008 6:44am
Quoting JanPoko
Somehow I don't understand all those shorts of yours, guys.
Especially now, not an hour from the news.

I wish you good luck, but still, this seems to me more gambling than trading...
You will understand mate with some patience pills when GU is @ 1.8700 & possibly lower b4 2008 ends.
  • #47,962
  • Jan 3, 2008 6:49am Jan 3, 2008 6:49am
I have now hedged at break even waiting for news if move is big will drop long or short
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,963
  • Jan 3, 2008 6:51am Jan 3, 2008 6:51am
Quoting Bones
I have now hedged at break even waiting for news if move is big will drop long or short
So any prediction for the news??
  • #47,964
  • Jan 3, 2008 6:58am Jan 3, 2008 6:58am
Quoting FXdaily
1.9815
lol, thats where i went short yesterday, still holding.
If I Go Broke Trying Then I Will die happy.
  • #47,965
  • Jan 3, 2008 6:58am Jan 3, 2008 6:58am
Quoting gunset
So any prediction for the news??
I know nothing of news, but overall I'm still thinking the gbp/usd should move lower. We're getting the classic upmove to bring in more shorts, which is why I could see that as a possibility as well.

Who knows really, that's why it's news to us.
Fundamental analysis always plays out in technical analysis though, so I will just wait until price action shows me a solid direction.
I dream, therefore I become.
  • #47,966
  • Jan 3, 2008 6:59am Jan 3, 2008 6:59am
Quoting gunset
So any prediction for the news??
hello bro, how is your Indonesia merdeka indicator?

how about kaskus today
  • #47,967
  • Jan 3, 2008 7:01am Jan 3, 2008 7:01am
all the way LONG!
  • #47,968
  • Jan 3, 2008 7:02am Jan 3, 2008 7:02am
Quoting metamorph
hello bro, how is your Indonesia merdeka indicator?

how about kaskus today
My Indomer.. still looking good, but still need your support. kaskus still growing bigger!!
  • #47,969
  • Jan 3, 2008 7:03am Jan 3, 2008 7:03am
Felix view on news ( forex bastards)
Tomorrow we will have two trades I will be looking at.

1. Thursday, January 3rd, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m. New York time we will have U.S. ADP Employment Change. That is expected to come out at 47.5 K, and I see 33K expected from another source so that numbers may change as we are approaching to the report. Last month it came out at 189K, and it was a great trade. To be safe, a reading of -20K or more negative would be weakening the U.S. dollar in general. A reading of 100K or higher would be strengthening the U.S. dollar. I would trade this on USD/JPY. I would look to buy USD/JPY on reading of 100K or higher, and sell USD/JPY on a reading of -20K or more negative.

2. Thursday, January 3rd, 2008 (8:30 a.m. New York Time) USA
Then at 8:30 a.m. New York time we will have U.S. Unemployment Claims which is expected to come out at 345K. It is a weekly indicator and recently more people are focused on it. If it comes out at 360K or higher, that should be weakening for the dollar, and it would constitute a sell signal on USD/JPY, good for 15 to 40 pips. If it comes out at 330K or lower, it would be strengthening the U..S. dollar, and it would be a buy signal on USD/JPY, good for 15 to 40 pips.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,970
  • Jan 3, 2008 7:07am Jan 3, 2008 7:07am
Quoting FXdaily
1.9777 SHORT 6 LOT
when you told i am short that time you were wrong direction actually

did you complete your short or still on?
  • #47,971
  • Jan 3, 2008 7:08am Jan 3, 2008 7:08am
Quoting mike w
I know nothing of news, but overall I'm still thinking the gbp/usd should move lower. We're getting the classic upmove to bring in more shorts, which is why I could see that as a possibility as well.

Who knows really, that's why it's news to us.
Fundamental analysis always plays out in technical analysis though, so I will just wait until price action shows me a solid direction.


Very wise words can be boring waiting though
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,972
  • Jan 3, 2008 7:08am Jan 3, 2008 7:08am
Quoting forexnovice
You will understand mate with some patience pills when GU is @ 1.8700 & possibly lower b4 2008 ends.
Pretty far away from 1.8700 now, isn't it?
  • #47,973
  • Jan 3, 2008 7:13am Jan 3, 2008 7:13am
guessing in next 12 to 16 hours price should be 9948 arround
  • #47,974
  • Jan 3, 2008 7:15am Jan 3, 2008 7:15am
Quoting Bones
Very wise words can be boring waiting though
Thanks Bones; Truth be told, trading should be boring to you. I am absolutely bored out of my mind when I trade. If it brings you excitement, then your gambling because your just trading with emotion. If you've ever played cards and played on tilt before, it's the same deal. You'll most likely end up losing. That's why I like longer term trades. It's because they don't put you on tilt as you have time to analyze the situation correctly and because of this, you don't have to worry as much; It's a lot different than worrying what the next 15 minutes will bring.
I dream, therefore I become.
  • #47,975
  • Jan 3, 2008 7:18am Jan 3, 2008 7:18am
You see Bones, check it out. On the 3o minute timeframe, we, at the moment, have a pin bar. I don't know if it will close as a pin bar, but that is a perfect example of how fundamentals play out in technicals. Now, we get to the boring part, waiting! lol
I dream, therefore I become.
  • #47,976
  • Jan 3, 2008 7:18am Jan 3, 2008 7:18am
Quoting mike w
Thanks Bones; Truth be told, trading should be boring to you. I am absolutely bored out of my mind when I trade. If it brings you excitement, then your gambling because your just trading with emotion. If you've ever played cards and played on tilt before, it's the same deal. You'll most likely end up losing. That's why I like longer term trades. It's because they don't put you on tilt as you have time to analyze the situation correctly and because of this, you don't have to worry as much; It's a lot different than worrying what the next 15 minutes will bring.
this is what i am going to do next time i understand this thing and having stress each and every minutes where the cable direction is - we should go with little big term timeline i will go with daily basis
  • #47,977
  • Jan 3, 2008 7:22am Jan 3, 2008 7:22am
go long good time for long direction
  • #47,978
  • Jan 3, 2008 7:24am Jan 3, 2008 7:24am
Quoting Designer1
this is what i am going to do next time i understand this thing and having stress each and every minutes where the cable direction is - we should go with little big term timeline i will go with daily basis
Excellent Designer1! Making the move from lower to higher timeframes will, most likely, increase you profitability and consistency in this market. The lower timeframes just spit out noise. In other words, on the lower timeframes, you get stuck in between all the people buying, selling, and closing out short term; Whereas on the higher timeframes, you don't deal as much with that. I hope you take the jump from lower to higher and become a successful trader through it. Best of luck to you.
I dream, therefore I become.
  • #47,979
  • Jan 3, 2008 7:25am Jan 3, 2008 7:25am
Quoting mike w
You see Bones, check it out. On the 3o minute timeframe, we, at the moment, have a pin bar. I don't know if it will close as a pin bar, but that is a perfect example of how fundamentals play out in technicals. Now, we get to the boring part, waiting! lol

Like I said Mike I couldnt agee more.I must admit Im not sure what a Pin bar is but a reackon its bearish I really want to see 1.9650 but am open minded at mo

I know I need to study candles ....so much to learn
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #47,980
  • Jan 3, 2008 7:26am Jan 3, 2008 7:26am
Do most of you ladies and gentlemen that partake in this thread know about price action?
I dream, therefore I become.
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