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Cable Update (GBPUSD)

  • #55,521
  • Feb 22, 2008 2:47pm Feb 22, 2008 2:47pm
Quoting mcfx
i grew up on a sailboat, should have looked at my past pissing experiences.. you learn fast when you siting in wetness for a few hours
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  • #55,522
  • Feb 22, 2008 2:51pm Feb 22, 2008 2:51pm
Wisdom #2.

Ever swimmed in a river? I did. Basically if you swim with the flow it is very easy and you can get far. When swimming against you will be exhausted quickly, will get tired and drown like a piece of sh**, that is deadly.

NEWBIES. NEVER NEVER EVER SWIM, P*** AGAINST WHATEVER THAT IS.
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  • #55,523
  • Feb 22, 2008 6:49pm Feb 22, 2008 6:49pm
Just passing "buy" again cable guy! Allow me to give you an idea re UK data next week:

"Some significant releases out of the UK next week with market attention firmly on the Tue's CBI DISTRIBUTIVE TRADES SURVEY FOR FEB with a further slight weakening as concerns about the credit crunch and higher inflation weigh on expectations. FEB NATIONWIDE HOUSE PRICE INDEX and is likely to show another firm fall more in line with the profile seen in Q4. We do not see an outright crash in the market over a 2 year horizon with a period of monthly declines likely to lead into a more stable growth-less market into year-end. Q4 PREL 2007 GDP on Wed will most likely confirm the initial release. Within the breakdown, look for a slight but not major cooling in consumption with investment also set to take a knock while net trade could take a hit from slowing exports to key trading partners. GFK FEB CONSUMER CONFIDENCE INDEX on Fri is expected to stabilise having fallen significantly in the last few months."

M still holding my long position @ 1.9680 target raise to 1.9800 sl 1.9580.

Just an info and not a reco!
  • #55,524
  • Feb 23, 2008 3:34am Feb 23, 2008 3:34am
Quoting 4x_Trader
Just passing "buy" again cable guy! Allow me to give you an idea re UK data next week:

"Some significant releases out of the UK next week with market attention firmly on the Tue's CBI DISTRIBUTIVE TRADES SURVEY FOR FEB with a further slight weakening as concerns about the credit crunch and higher inflation weigh on expectations. FEB NATIONWIDE HOUSE PRICE INDEX and is likely to show another firm fall more in line with the profile seen in Q4. We do not see an outright crash in the market over a 2 year horizon with a period of monthly declines likely to lead into a more stable growth-less market into year-end. Q4 PREL 2007 GDP on Wed will most likely confirm the initial release. Within the breakdown, look for a slight but not major cooling in consumption with investment also set to take a knock while net trade could take a hit from slowing exports to key trading partners. GFK FEB CONSUMER CONFIDENCE INDEX on Fri is expected to stabilise having fallen significantly in the last few months."

M still holding my long position @ 1.9680 target raise to 1.9800 sl 1.9580.

Just an info and not a reco!
Well im not a news trader and i never was But your call in a technical term is so right SO, here is my call, Buy, in long term, i think shes gonna break, heres a picture - Also note, 4X only added to what Bones showed me earlier, Basicly my convincement was from Bones him self, and i just realized her pattern (theres too many patterns to pat down ), to which im showing everyone and making the call for a long term.

We'll see alot of little retracements and so forth, but the overall is she just entered a wedge again and shes doomed to Bust. i say wait for a break up before entering and hold your stops tight, this is gonna be a mean ride.

Anyone agree with my anaylsis? or is there something wrong?
Happy trading!
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And your mouth dropped
  • #55,525
  • Edited 8:18am Feb 23, 2008 8:15am | Edited 8:18am
Hey Mike you left a bit of space there for another smiley face. If price follows that projection I am going to think there is something very mystical about you my friend, lol
As I said to you my I am way off mastering this beast.
I had some thought on the close and defiantly see a pull back, let’s face it its well over due.
Obviously it depends on open but I think price will close through that rising 4hr rising trend line, its below the 200 ma ,we had a pin (though not sure if it’s a good one) a few bars ago and it still active. I’ve got two possible targets for the retrace depending on the speed of it but would really like the 50% mark of the entire 1.9736 to1.9360 down move which would give a buy at 1.9550.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,526
  • Feb 23, 2008 12:32pm Feb 23, 2008 12:32pm
Quoting Bones
we had a pin (though not sure if it’s a good one) a few bars ago and it still active
Much less impressive in Alpari data
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Darkness lies one inch ahead..
  • #55,527
  • Feb 23, 2008 1:18pm Feb 23, 2008 1:18pm
Happy trading
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Attached Image
  • #55,528
  • Feb 23, 2008 1:58pm Feb 23, 2008 1:58pm
Quoting TraderJR
Much less impressive in Alpari data
Is that a 4 hour chart because none of that data is the same as mine ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,529
  • Feb 23, 2008 2:10pm Feb 23, 2008 2:10pm
Now Abuawad’s chart looks more like mine but still slightly different, he dose have a pin though second bar in
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,530
  • Feb 23, 2008 2:23pm Feb 23, 2008 2:23pm
The only thing I can think of is the data is the same only the time is shifted, to change basic look of bars. I am thinking yours dose not look as easy on the eye also maybe it’s just cause I am used to mine.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,531
  • Feb 23, 2008 2:43pm Feb 23, 2008 2:43pm
Hey Bones, Alpari data is a different trading method, kinda like candles but its supposed to remove alot of noise etc, im not into it but there are some that are, some say its pretty clean and as acurate as the candles.
And your mouth dropped
  • #55,532
  • Feb 23, 2008 5:01pm Feb 23, 2008 5:01pm
Thanks Mike,I never knew that
My Weekly Plan

I have been looking at the weekly chart for a plan and it looks good for a drop to test the top of that down trend line and a rise maybe.
I suppose it depends on the comming news

The possible low of 1.9533 is the 50% retrace of last week
Break of 1.9533 very would be very bearish
A break of 1.9957 would be very bullish
A more realistic upside target would be 1.9826 because there is a confluence of a trend lines,50% fib fan + 78.6% retrace of the fall from 1.9557 to 1.9335
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,533
  • Feb 23, 2008 5:25pm Feb 23, 2008 5:25pm
Quoting TraderJR
Much less impressive in Alpari data
Well ok TraderJR,
If Alpari data is different I wonder if you could explain a little more about it and your view on whats comming next
Thanks in advance
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,534
  • Feb 23, 2008 5:42pm Feb 23, 2008 5:42pm
This is a long lasting rally on cable...

You guys missed the bottom, deal with it... Trying to sell 1,5% above it won't help ya...

It's still time to go long... Grow that set of balls.

I warned you
  • #55,535
  • Feb 24, 2008 12:01am Feb 24, 2008 12:01am
Technically its in a precarious position and not the best trading candidate between the .9640 - .9720 area. Could go either way. Oh I forget, forecasting the market doesn't pay, trading what u see does.
  • #55,536
  • Feb 24, 2008 12:12am Feb 24, 2008 12:12am
It will eventually get there, just try not to ride against the short term trend up while not forgetting that long term cycles are bearish, not talking about sudden reverse here though before 2.0 level is tested.

So both bulls and bears should get involved soon
GBPUSD is clear and thats strange, sell 2.02/04 or buy a dip into next week.

Gl
  • #55,537
  • Feb 24, 2008 2:05am Feb 24, 2008 2:05am
any idea next week,should cable keep going up?
  • #55,538
  • Feb 24, 2008 3:44am Feb 24, 2008 3:44am
Quoting Abuawad
On the 4 hr chart, draw these values as they are. Once the candle on the 4 hour chart close or open below the value it will move to the second target or support or resistant
How long have you been using this system, and what success rate does it have?

Thanx for sharing it.
Darkness lies one inch ahead..
  • #55,539
  • Feb 24, 2008 3:54am Feb 24, 2008 3:54am
Quoting GSGill
Technically its in a precarious position and not the best trading candidate between the .9640 - .9720 area. Could go either way. Oh I forget, forecasting the market doesn't pay, trading what u see does.
Well isn’t forecasting the market what we do everyday? We may see a retest of what? Precarious why? Maybe a chart would help
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,540
  • Feb 24, 2008 5:32am Feb 24, 2008 5:32am
Quoting Bones
Well isn’t forecasting the market what we do everyday? We may see a retest of what? Precarious why? Maybe a chart would help
Who the hell know that?
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