Cable Update (GBPUSD)

Anyone would think the U.S. was strongly emerging from recession and another million homes were not going to be repossessed this year and the twin deficits were solved and employment was pushing up and Bernanke was warning on rising prices and an overheating economy and LIBOR was back down to normal margins etc etc ...

and U.K. inflation had gone away and the U.K economy as a whole was dying...

perhaps the herd has run too far to the other end of the field ?

perhaps they are not there yet

but return they will i reckon

I absolutely have no idea....lol
i just watch a video of a expert explain what he thinks is happening and using his words in forum.
http://www.pfxglobal.com/index.php?o...836&Itemid=149
i think u have to download the video to view it..its interesting to see

If you guys wanna know what's going on...well, just use a 1hr chart and place a 62 EMA....can't get any clearer than that

is that E and close

yup

and wats that...???

62 exponential moving average......works like a charm for support and resistance on GBPUSD 1hr.....look how the price keeps trying to go up but it is getting stopped.....it is rumored that most pros use the 62ema in one way or the other....

i wish i knew about that earlier...it works like a charm on the 1 hr chart
thx for tip

that means... cables is cannot break it.. will go down..??

well, I wouldn't be so drastic, but I would definitely wait before it breaks it to make a buy....until then, just I'd just watch.....what it is clear now it is that big forces want to keep it down...

look at it like moving support and resistance..ofcourse it can be broken but it help guide u in the direction u need to place yur trades

Very interesting this 62EMA. Kudos to you Mr. Future. You made me rethink my strategy a little bit

try 55EMA more big players use it and of course 200 EMA for bigger moves

Use 55 EMA and 200 EMA in Daily Chart All of you..
And those who wanted Answer to who asked me why you think GBP/USD will fall. its clear there

55 crossing 200.. down fall.. enjoy

And use 20 EMA for Early signals
55 EMA for Confirmation

200 EMA to confirm a big trend change..

So Anyone against GBP/USD trend down ?

I am glad you guys like it. It is the bread and butter of my trading, together with fibonacci of course.

But don't try playing with it on other pairs, you will get burned. You need something that moves nicely like the GBPUSD to make it work. Lately of course the situation sucked a bit, but the small losses in the long run will always get destroyed by the big wins.

Very similiar to what the Turtles were doing....

its good to know all this ..
THX GUYS

Mr. Dennis, the Turtle teacher, used 20ma and 55ma. He was able to use it in anything, like commodities, currencies etc, as long as they had nice movements. It cannot be used into something that moves irregularly, you need to have some trending going on.

I personally think that for today's markets (he used it in the 70s and 80s) the 20ma is too tight, and it gets too many false alarms. 55 works better, yet I still prefer the 62ema.

Have fun

the 62 ema i will use from now on .....it definetely works u only have to see the gpd/usd chart to realise this ..thx again

Kudo's to you MrFuture & JacobTrader for your commentary and golden nuggets of wisdom. The supply of your advice and knowledge will always be in demand by those like me who endeavor to trade well. I have put my money to work this week after successfully demo trading for 6 mos. Maybe too soon However, it does feel somewhat different to trade with real money. I rely heavily on GMMA's to illustrate the trends of the pairs that I trade. However, after reading through much of the material here on FF I will need to study "price action" S & R and fibs. I am humbled to say that I am up for the week. This is due in no small part to the postings that I read here concerning the how, why's and what's what in forex by you and those others here who assist new ones like myself. So to you, whoever you are and where ever you are, I extend a heartfelt thanks for your assistance.

Respectfully-

KissFan