Everyone has his one method, but I like to inform you for the photo you insert it’s monthly.
I usually draw monthly and weekly for the long term and the shadow of this monthly candle will broke down to 4 weekly candle which give us the shadow in the weekly fibo. Also I take notes for the shadow as lowest or heights value.
Maybe I’m wrong but that the way I have trade for a long time and if its wrong and the time prove that I’m willing to change to follow the market whatever it go
Cable Update (GBPUSD)
- #54,203
- Edited 1:31am Feb 17, 2008 1:18am | Edited 1:31am
Cable Preview Next Week Ahead:
GBP key releases next week with the FEB BOE/MPC MINUTES due out on Wednesday with only "Dovish" Blanchflower expected to have called for a 50bp cut at the Feb meeting that saw a 25bp reduction in the bank rate with concerns about the growth outlook likely to have been quite visible against heightened inflation fears. The PSNCR FOR JAN also on Wed is expected to show a healthy surplus (fc 9.5B vs. prev 7.8B) along with seasonal patterns with the PSNB - an accrual based measure - also set to move in the same direction. The FEB CBI INDUSTRIAL TRENDS SURVEY (Wed) is likely to see a modest fall (fc -3 vs. prev 2) with recent 4x developments failing to give the sector some support. Finally, JAN RETAIL SALES on Thursday should show a mild m/m rise (fc 0.3% vs. prev -0.4%) in line with relatively buoyant survey data over the same period.
All in all, the figures are unlikely to support the case for a back-to-back cut in rates at the Mar 5/6 BOE/MPC meeting.
GBP key releases next week with the FEB BOE/MPC MINUTES due out on Wednesday with only "Dovish" Blanchflower expected to have called for a 50bp cut at the Feb meeting that saw a 25bp reduction in the bank rate with concerns about the growth outlook likely to have been quite visible against heightened inflation fears. The PSNCR FOR JAN also on Wed is expected to show a healthy surplus (fc 9.5B vs. prev 7.8B) along with seasonal patterns with the PSNB - an accrual based measure - also set to move in the same direction. The FEB CBI INDUSTRIAL TRENDS SURVEY (Wed) is likely to see a modest fall (fc -3 vs. prev 2) with recent 4x developments failing to give the sector some support. Finally, JAN RETAIL SALES on Thursday should show a mild m/m rise (fc 0.3% vs. prev -0.4%) in line with relatively buoyant survey data over the same period.
All in all, the figures are unlikely to support the case for a back-to-back cut in rates at the Mar 5/6 BOE/MPC meeting.
- #54,206
- Feb 17, 2008 4:21am Feb 17, 2008 4:21am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Now this is really pot calling kettle black but forget scalping, to time consuming and high risk, I am working very hard trying to give that style of trading up, i.e longer timeframes
But it is a bit like a drug and hard to do lol
I gonna try both...trade the trend and the dips ....
- #54,207
- Feb 17, 2008 4:22am Feb 17, 2008 4:22am
U have the right idea...trading in mind with a larger time frame is always more accurate and definately leads to more money , the money u save on the spread alone makes it worthwhile but scalping is good too...so long as u know what your doing.
I gonna try both...trade the trend and the dips ....
And your mouth dropped
- #54,208
- Feb 17, 2008 4:29am Feb 17, 2008 4:29am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
did that and i went through hell, take it from me.. go long term.. its alot reliable
I can imagine scalping is one big rollacoster.....up and down and im not talking about the price
- #54,209
- Feb 17, 2008 4:32am Feb 17, 2008 4:32am
Hey bud i didnt see your message, usually if you write the name in the room it buzzes out, and its 5 am here, thanks for the comment, cant wait till sunday open hu Navin
And your mouth dropped
- #54,210
- Feb 17, 2008 4:34am Feb 17, 2008 4:34am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #54,211
- Feb 17, 2008 4:35am Feb 17, 2008 4:35am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Hey bud i didnt see your message, usually if you write the name in the room it buzzes out, and its 5 am here, thanks for the comment, cant wait till sunday open hu Navin
why did the market have to close on saturday, they need to change this
- #54,212
- Feb 17, 2008 4:39am Feb 17, 2008 4:39am
good job man! ...sunday opening would be great
why did the market have to close on saturday, they need to change this
And your mouth dropped
- #54,214
- Feb 17, 2008 4:55am Feb 17, 2008 4:55am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
So they can give the guys that lose a break? lol... thats so mean to say.. sorry... but funny
- #54,215
- Feb 17, 2008 5:38am Feb 17, 2008 5:38am
Cable Preview Next Week Ahead:
GBP key releases next week with the FEB BOE/MPC MINUTES due out on Wednesday with only "Dovish" Blanchflower expected to have called for a 50bp cut at the Feb meeting that saw a 25bp reduction in the bank rate with concerns about the growth outlook likely to have been quite visible against heightened inflation fears. The PSNCR FOR JAN also on Wed is expected to show a healthy surplus (fc 9.5B vs. prev 7.8B) along with seasonal patterns with the PSNB - an accrual based measure - also set to move in the same direction. The FEB CBI INDUSTRIAL TRENDS SURVEY (Wed) is likely to see a modest fall (fc -3 vs. prev 2) with recent 4x developments failing to give the sector some support. Finally, JAN RETAIL SALES on Thursday should show a mild m/m rise (fc 0.3% vs. prev -0.4%) in line with relatively buoyant survey data over the same period.
All in all, the figures are unlikely to support the case for a back-to-back cut in rates at the Mar 5/6 BOE/MPC meeting.
Darkness lies one inch ahead..
- #54,216
- Feb 17, 2008 6:05am Feb 17, 2008 6:05am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Everyone has his one method, but I like to inform you for the photo you insert it’s monthly.
I usually draw monthly and weekly for the long term and the shadow of this monthly candle will broke down to 4 weekly candle which give us the shadow in the weekly fibo. Also I take notes for the shadow as lowest or heights value.
Maybe I’m wrong but that the way I have trade for a long time and if its wrong and the time prove that I’m willing to change to follow the market whatever it go
bar with at least two lower highs on both left and right of the high bar. A swing low is a short term bar with at least two higher lows on both left and right of the low bar.
Why make your own system up against the big boys and books? You want to be with the masses not out there on your own. It is important to straighten out with no confusion here as others may get it wrong also.
Trust me if Carrera says it’s not correct its not. He is THE MAN on this sort of stuff!
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #54,217
- Feb 17, 2008 7:16am Feb 17, 2008 7:16am
That's almost 3 weeks away. Do you have any expectation for GU this week, rise or fall?
posts # 54155 & 54158 Happy trading bro!
- #54,218
- Feb 17, 2008 7:22am Feb 17, 2008 7:22am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #54,219
- Feb 17, 2008 8:41am Feb 17, 2008 8:41am
- Joined Apr 2007 | Status: Trader | 2,387 Posts
"what doesn't bankrupt me, makes me stronger" modern nietzche
- #54,220
- Feb 17, 2008 9:15am Feb 17, 2008 9:15am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea