see where i draw channel the target point of lower exact match with
past trendline bounces check attached
past trendline bounces check attached
Attached Image (click to enlarge)
Cable Update (GBPUSD)
- #52,168
- Edited 12:14pm Feb 5, 2008 11:55am | Edited 12:14pm
- Joined Feb 2007 | Status: Trader | 2,428 Posts
- #52,169
- Feb 5, 2008 1:54pm Feb 5, 2008 1:54pm
- Joined Apr 2007 | Status: USF Statistics | 2,248 Posts
- #52,170
- Edited 4:23pm Feb 5, 2008 2:27pm | Edited 4:23pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #52,171
- Feb 5, 2008 2:33pm Feb 5, 2008 2:33pm
- Joined Apr 2007 | Status: USF Statistics | 2,248 Posts
haha hey all im back ,okey lets start then.
Im LONG in 1.9673 with 14 LOT
I hope you had a stoploss, mine kicked in at 1.9650!.....
Today was the perfect day, too see how Technical Analysis, is a self-fullfilling prophecy............
learn from your mistakes, always.
- #52,172
- Feb 5, 2008 2:38pm Feb 5, 2008 2:38pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #52,173
- Feb 5, 2008 2:46pm Feb 5, 2008 2:46pm
- Joined Apr 2007 | Status: USF Statistics | 2,248 Posts
Hi Ameri
What do you reckon ?You know ive noticed traders saying the intrest rate gap dont matter ,Uk is in a whole lot of trouble elsewhere
I do feel a little focused on this ,and right now doubt the 50 cut.
Say the recent house prices stats ,been better than expected,I feel already the the thought of lower intrest rates is seeping through (heck you may even get lower deals on high street)to the man on the street, and I still think BOE is in between a rock and hard place,and that Melvin is not a slasher
But am I focusing on this to much ?
Are we going down anyway ,for a whole bunch of other reasons?
Bones,
I honestly believe that this is all about interest rates! From a fundamental point of view, the Pound should be crushing the dollar. However, traders probably have their eye on the IR decisions coming up. BOE I expect to drop by a 25bps and whenever they change IR, a statement is released and I expect this to signal that they will not be in a hurry to cut again because of inflation. This rally that the $ is in, is wave B that is not finished (close too though). Then, I expect wave C to start and take us north of 2.000 to somewhere in the 2.0300~2.0450 area.
I am long from 1.9645.........
..........and even if it falls 100pips or more, I am holding it. I only trade the GBP/USD pair.
- #52,175
- Feb 5, 2008 2:53pm Feb 5, 2008 2:53pm
- | Joined Aug 2007 | Status: Trading make u smarter. | 1,230 Posts
Bones,
I honestly believe that this is all about interest rates! From a fundamental point of view, the Pound should be crushing the dollar. However, traders probably have their eye on the IR decisions coming up. BOE I expect to drop by a 25bps and whenever they change IR, a statement is released and I expect this to signal that they will not be in a hurry to cut again because of inflation. This rally that the $ is in, is wave B that is not finished (close too though). Then, I expect wave C to start and take us north of 2.000 to somewhere in the 2.0300~2.0450 area.
traders are making a party selling off these currencies hard even aussie when RBA raised yesterday and threat to raise more....
but who cares, they are in bearish zone and Bears are selling them off hard with excitemenent....
probably normal, after bears managed to won yesterday the war in the highs also their success with the euro drop probably their confidence is rampant now....
beware with gbp, probably they tomorrow will party with this currency also...
- #52,177
- Edited 4:41pm Feb 5, 2008 3:08pm | Edited 4:41pm
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Bones,
I honestly believe that this is all about interest rates! From a fundamental point of view, the Pound should be crushing the dollar. However, traders probably have their eye on the IR decisions coming up. BOE I expect to drop by a 25bps and whenever they change IR, a statement is released and I expect this to signal that they will not be in a hurry to cut again because of inflation. This rally that the $ is in, is wave B that is not finished (close too though). Then, I expect wave C to start and take us north of 2.000 to somewhere in the 2.0300~2.0450 area.
I am long from 1.9645.........
and
Acid, I believe I had the wrong end of the stick with you-sorry mate
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #52,178
- Feb 5, 2008 3:50pm Feb 5, 2008 3:50pm
I have some questions that i cannot fully answer by my self. So a little help woulb be apreciated.
Why the major currency drop against usd, and when i am saying major i mean Gbp, Eur, Jpy, Aud, Nzd and Chf, Cad went up.
Let's say that raise of the Cad has something to do with the OPEC meeting and the oil price, but Aud cut interest rate and still bearish
Eur let's say that was in the highly resistance zone and bad german and european services, but still the rally started earlier this day.
When the london session opened was like a gun waiting to pull the triger.
But on the other pairs what was it? If anybody could explain what hapend today i will highly apreciated.
Thx.
Why the major currency drop against usd, and when i am saying major i mean Gbp, Eur, Jpy, Aud, Nzd and Chf, Cad went up.
Let's say that raise of the Cad has something to do with the OPEC meeting and the oil price, but Aud cut interest rate and still bearish
Eur let's say that was in the highly resistance zone and bad german and european services, but still the rally started earlier this day.
When the london session opened was like a gun waiting to pull the triger.
But on the other pairs what was it? If anybody could explain what hapend today i will highly apreciated.
Thx.
- #52,179
- Feb 5, 2008 3:54pm Feb 5, 2008 3:54pm
- | Joined Dec 2007 | Status: Senior Member | 1,461 Posts
Bones,
I honestly believe that this is all about interest rates! From a fundamental point of view, the Pound should be crushing the dollar. However, traders probably have their eye on the IR decisions coming up. BOE I expect to drop by a 25bps and whenever they change IR, a statement is released and I expect this to signal that they will not be in a hurry to cut again because of inflation. This rally that the $ is in, is wave B that is not finished (close too though). Then, I expect wave C to start and take us north of 2.000 to somewhere in the 2.0300~2.0450 area.
I am long from 1.9645.........
Trading is 80% Emotional, 20% Technical