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Cable Update (GBPUSD)

  • #53,481
  • Feb 13, 2008 9:42am Feb 13, 2008 9:42am
Quoting acidguy
BEWARE, king just opened his mouth and spoiled the party.

but still in my opinion, uk fundamentally dont deserve these leves in the pound. i bet this is a temporary reaction.
Didn't spoil my party
  • #53,482
  • Feb 13, 2008 9:44am Feb 13, 2008 9:44am
Technical picture of this Pair is way bad, showing Bearish Signs..
We saw streak of BUllish Pound Data, but not much weigh was given..
As technically a drop is imminent.. And for couple days i have been noticing its building itself for another 300-400 Drop.
I still weigh my eyes at 1.91 - 1.93 levels.

I would happily been BULLISH.. And i ask if anyone can show me signs of BULLISHNESS in this pair.

I favor as yesterday Any Rally place favors a SELL..

This Pair doesnt comes in BULLISH Channel until we are exceeding above 1.9790

It will trade in ranges for the moment, until a solidify technical preparation has been done for a Down Fall.

I have been noticing this Pair very technically closely..
As at the moment i still remain BEARISH with various Signals concern a drop.

I would be BULLISH if the image turns..

I ride my horse both sides.. Play a Good Money Management game will keep you winning
  • #53,483
  • Feb 13, 2008 9:46am Feb 13, 2008 9:46am
Quoting allserene
Didn't spoil my party
this is temporary, but nice for later shorts....

very likely we finish the year around 1.80....
they are following the same script, after first rate cut they started, inflation, inflation, inflation we are worried about inflation.

but the economy went down. and they said, rate cut, rate cut, more inflation.

when uk economy gets again close to the downturn, they will do the same thing, this for some reason remembers me Bernanke.....
  • #53,484
  • Feb 13, 2008 9:50am Feb 13, 2008 9:50am
Quoting allserene
is this based on technicals or fundies ? - US fundies look worse than uk
currently, Warren Buffet is injecting money into the stock market( rumour)

That is why, yesterday, Dow Jones indices are up to a bull trend line. and it is the reason the GBP is up against USD. However the trading still very dry.
  • #53,485
  • Feb 13, 2008 9:55am Feb 13, 2008 9:55am
Quoting winwise
currently, Warren Buffet is injecting money into the stock market( rumour)

That is why, yesterday, Dow Jones indices are up to a bull trend line. and it is the reason the GBP is up against USD. However the trading still very dry.

A Very Valid point.. But He has offered buying 3 companies. 1 reject.. 2 response is being awaited.. and it appears they would reject as wlel. Or else we would have an answer already...

I presume, the Fall in DowJones will be soon.. US$ is strong as well.. so there is a Hit from up as well as Bottom..
  • #53,486
  • Feb 13, 2008 10:03am Feb 13, 2008 10:03am
Quoting jacobtrader
A Very Valid point.. But He has offered buying 3 companies. 1 reject.. 2 response is being awaited.. and it appears they would reject as wlel. Or else we would have an answer already...

I presume, the Fall in DowJones will be soon.. US$ is strong as well.. so there is a Hit from up as well as Bottom..
for we as trader would be nice if dow jones crash and make dip down big euro, gbp, aussie, nzd, so they stop saying those currencies are up thanks to their fundamentals.

we will then see how strong their currencies really are
  • #53,487
  • Feb 13, 2008 10:13am Feb 13, 2008 10:13am
Quoting acidguy
for we as trader would be nice if dow jones crash and make dip down big euro, gbp, aussie, nzd, so they stop saying those currencies are up thanks to their fundamentals.

we will then see how strong their currencies really are
hope you are not short
  • #53,488
  • Feb 13, 2008 10:16am Feb 13, 2008 10:16am
Quoting allserene
hope you are not short
Basically I was shouting WHOLE DAY LONG GU LONG. No one is listening. So be it. All those who are shorting are paying for my lunch, house and new yacht,
.
  • #53,489
  • Feb 13, 2008 10:18am Feb 13, 2008 10:18am
short in my no swap accout, and hoping to get a better level to bet more big.

watch out down jones and gu....
  • #53,490
  • Feb 13, 2008 10:21am Feb 13, 2008 10:21am
Quoting bullrock
Basically I was shouting WHOLE DAY LONG GU LONG. No one is listening. So be it. All those who are shorting are paying for my lunch, house and new yacht,

yeah , lucky u mate.
but remember, as a trader, u need to make money everyday, not just one wave

beside, long/short only means a direction. u have to know where to enter and exit.
  • #53,491
  • Feb 13, 2008 10:21am Feb 13, 2008 10:21am
It looks like that monthly pin bar is still alive and well. I think we will see new highs coming soon. I have a goal of at least 2.01 right now. If we get a confirming bar for the end of this month, then I think we could see even higher levels. Dont forget, long term, the uptrend is still intact.
I dream, therefore I become.
  • #53,492
  • Feb 13, 2008 10:22am Feb 13, 2008 10:22am
Quoting bullrock
Basically I was shouting WHOLE DAY LONG GU LONG. No one is listening. So be it. All those who are shorting are paying for my lunch, house and new yacht,
I listened to you and did ok already

I am getting a new motorbike and speedboat and a posh house in Florida because I listened to you

makes me feel sad for the rest
  • #53,493
  • Feb 13, 2008 10:24am Feb 13, 2008 10:24am
Quoting bullrock
Basically I was shouting WHOLE DAY LONG GU LONG. No one is listening. So be it. All those who are shorting are paying for my lunch, house and new yacht,
really... dont let your english patriotism take over your trading.
  • #53,494
  • Feb 13, 2008 10:25am Feb 13, 2008 10:25am
Quoting allserene
I listened to you and did ok already

I am getting a new motorbike and speedboat and a posh house in Florida because I listened to you

makes me feel sad for the rest
Great. Hope for the best. Hope you are well.

I have just posted a new thread that explains the base of my day trading strategy. That said long too. For I dont know maybe 70 pips or so....
.
  • #53,495
  • Feb 13, 2008 10:28am Feb 13, 2008 10:28am
Quoting acidguy
really... dont let your english patriotism take over your trading.
Well said. I am not english (born identity) but a patriot.... But that doesnt drive my trading. GREED AND MONEY IS. GREEED ISSS GOOOOD.ARGGGHHH
.
  • #53,496
  • Feb 13, 2008 10:32am Feb 13, 2008 10:32am
Quoting bullrock
Well said. I am not english (born identity) but a patriot.... But that doesnt drive my trading. GREED AND MONEY IS. GREEED ISSS GOOOOD.ARGGGHHH
well, lets see, about 500pips down last week, and now on the 30 shy pips rise since the report, you party?

sorry but thats a little crazy
  • #53,497
  • Feb 13, 2008 10:36am Feb 13, 2008 10:36am
looking for more confirmation but nice h&s on 4 hr.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hrgbp.gif Size: 23 KB
TRIALS THAT SHAKE SOME, CONFIRM OTHERS!
  • #53,498
  • Feb 13, 2008 10:37am Feb 13, 2008 10:37am
Quoting mike w
It looks like that monthly pin bar is still alive and well. I think we will see new highs coming soon. I have a goal of at least 2.01 right now. If we get a confirming bar for the end of this month, then I think we could see even higher levels. Dont forget, long term, the uptrend is still intact.
Cool nice to see you here Mike,a bit of quality advice I mean
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #53,499
  • Feb 13, 2008 10:38am Feb 13, 2008 10:38am
Quoting bullrock
Well said. I am not english (born identity) but a patriot.... But that doesnt drive my trading. GREED AND MONEY IS. GREEED ISSS GOOOOD.ARGGGHHH
hahah

I like ur pic, did u draw that?
  • #53,500
  • Feb 13, 2008 10:44am Feb 13, 2008 10:44am
Quoting acidguy
really... dont let your english patriotism take over your trading.
and the ex-colonials have their own share of prejudices and inferiority complexes and lingering resentments against GBP and trade it too - (not venezuela)

It's nice to see them come unstuck because they let it affect their trading

I think it's poor discipline to mix past resentments with business - the figures will tell the story
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