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Cable Update (GBPUSD)

  • #48,441
  • Jan 7, 2008 12:04am Jan 7, 2008 12:04am
this is crazy, we are at the point where, the cable goes down during the london session only to go back up during the us session because both economies are doing so badly at the moment.
  • #48,442
  • Edited 12:24am Jan 7, 2008 12:11am | Edited 12:24am
Quoting dagoods
um ok .... i guess so.... i actually prefer not to know all the chart patterns... i'd rather stick to one system and add in different things and develop my own trading plan and learn it well and trade it as best i can ....sorry to have bothered you with a question..... good luck to u
Don't worry , be happy - you have'nt bothered me
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Why Learn the Chart Patterns ? .......... They will give any system more clarity

See this chart here below

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The evidence is always in the charts..............

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 ( Double click on Chart to Enlarge )
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-01-06-2008-#2.gif Size: 19 KB
  • #48,443
  • Jan 7, 2008 12:12am Jan 7, 2008 12:12am
up target 1.9800
  • #48,444
  • Jan 7, 2008 12:12am Jan 7, 2008 12:12am
check GBP/USD link below

there is also telling its must break 9652 STRONGEST support for huge downside on --- but we can see its still not break just 9653 touch and up

http://www.actionforex.com/forex_ana...2008010734346/
  • #48,445
  • Jan 7, 2008 12:15am Jan 7, 2008 12:15am
i thought gu down until 1.950 then shoot up till 1.9705 then down again set to up until pivot.

there float and heavy snow at US
Attached Image (click to enlarge)
Click to Enlarge Name: gbp new.JPG Size: 59 KB
Attached File(s)
File Type: pdf gbp 4 jan.pdf   145 KB | 388 downloads
  • #48,446
  • Jan 7, 2008 12:15am Jan 7, 2008 12:15am
off course Im still short long term... But if it hits 1.9664 I am buying short term for 1.9695. And I still have my short term shorts open. Just me...
  • #48,447
  • Jan 7, 2008 12:15am Jan 7, 2008 12:15am
I dont think Uk half as bad as markets have priced in, there is solid growth, record unemployment, inflation is slightly above target, what are the arguements for rate cuts?? Bail out Northen Rock?! prevent housing market crash thus saving Northen Rock Balance sheet, ie save the Gordon Brown further embarrasment, inflation environment is prob going to worsen if they cut rates further, look at oil and food. US on other hand has big problems, huge deficiets, lower employment and weaking, housing crash subprime...
Trading is 80% Emotional, 20% Technical
  • #48,448
  • Jan 7, 2008 12:16am Jan 7, 2008 12:16am
Quoting forexguru
up target 1.9800
A BUY in a strong downtrend??
  • #48,449
  • Jan 7, 2008 12:20am Jan 7, 2008 12:20am
Quoting gunset
A BUY in a strong downtrend??
trade at your own risk
  • #48,450
  • Jan 7, 2008 12:26am Jan 7, 2008 12:26am
Quoting Rogue$Trader
off course Im still short long term... But if it hits 1.9664 I am buying short term for 1.9695. And I still have my short term shorts open. Just me...
Boy did U call that or WHAT!!!
  • #48,451
  • Jan 7, 2008 12:29am Jan 7, 2008 12:29am
Quoting fx local
I dont think Uk half as bad as markets have priced in, there is solid growth, record unemployment, inflation is slightly above target, what are the arguements for rate cuts?? Bail out Northen Rock?! prevent housing market crash thus saving Northen Rock Balance sheet, ie save the Gordon Brown further embarrasment, inflation environment is prob going to worsen if they cut rates further, look at oil and food. US on other hand has big problems, huge deficiets, lower employment and weaking, housing crash subprime...

All my opinion....
Fed rate will be 3% 6 months from now or summer.
Bonds are a GREAT BUY at this time.Will be at 4% soon.
The UK follows the US in a mild recession.
All MAJOR central banks will cut rates, except for japan, obvious.
The US will recover faster.
Down US stock market, up US bonds, Stronger $
  • #48,452
  • Jan 7, 2008 12:30am Jan 7, 2008 12:30am
Quoting FXdaily
Hey buddy i trade GBP/JPY today .
Any entry point n when to exit? Thanks
Theres' light at the end of the tunnel....
  • #48,453
  • Jan 7, 2008 12:38am Jan 7, 2008 12:38am
where we are going big boys???

BIG BOYS vs Stochastick i told you guys

still today whole time left we will have right direction
  • #48,454
  • Jan 7, 2008 12:38am Jan 7, 2008 12:38am
Quoting kusniagos
Any entry point n when to exit? Thanks
Short Gbp/JPY
  • #48,455
  • Jan 7, 2008 12:38am Jan 7, 2008 12:38am
NFP and unemployment were crab on Friday and still dollar gained.. now it is time for the correction.
  • #48,456
  • Jan 7, 2008 12:42am Jan 7, 2008 12:42am
Quoting kusniagos
Any entry point n when to exit? Thanks
You didnt ask me so my basicanswer is short. It come to ya.
  • #48,457
  • Jan 7, 2008 12:43am Jan 7, 2008 12:43am
Anyone else buy the test of the August low? I figured we'd see a reasonable bounce, 70 pips so far.
  • #48,458
  • Jan 7, 2008 12:43am Jan 7, 2008 12:43am
closed my longs from 668. lets see what is next.. dollar might gain again.
  • #48,459
  • Jan 7, 2008 12:46am Jan 7, 2008 12:46am
Quoting forexguru
NFP and unemployment were crab on Friday and still dollar gained.. now it is time for the correction.
Look at big picture... That brought US stock market down... Sent Bonds correct, which in turn makes US$ strong.

Happy Trading
  • #48,460
  • Jan 7, 2008 12:47am Jan 7, 2008 12:47am
Us Dollar

Remember that Coil Pattern from this past Friday's close ?

Just look at at baby go ...........


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