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Cable Update (GBPUSD)

  • #55,961
  • Feb 26, 2008 1:26pm Feb 26, 2008 1:26pm
Quoting Bones
Well that went well , lol, Hit my weekly target from my post on Sunday and more and attach that same unaltered weekly chart with the highlighted yellow target. There no way I gonna enter again today I feel ive been way to lucky.
it wasnt luck just excellent entery...welldone buddy
  • #55,962
  • Feb 26, 2008 1:28pm Feb 26, 2008 1:28pm
Quoting Ash
GU around 2.10
I know this has been a nice run up,butAsh can you please comment on the monthly chart. Two pin bars so price should turn, but there was two pin bars in Feb and March 2007 as well but prices went up. MA crossing, Stoch in over bought on monthly chart. Lots of resistans over the years at around the 1.9855. Monthly chart still looking bearish?
  • #55,963
  • Feb 26, 2008 1:28pm Feb 26, 2008 1:28pm
Quoting deboooo2005
i get out @ 1.9674 .... no profit ... no lose ... if 1.9720 not broken ... we will fall and if break it we go up

back again in morning ... i said if 1.9720 broke we go up ... and now my main target 2.0092
  • #55,964
  • Feb 26, 2008 1:29pm Feb 26, 2008 1:29pm
Quoting Abuawad
By the way, you don’t have to follow me… follow your analysis and your chart. ok
sent you an email
  • #55,965
  • Feb 26, 2008 1:30pm Feb 26, 2008 1:30pm
Quoting salah k.
bones did
well done
u see salah..trading is more than just knowing what to do, its a bout focus as well as chart analysis..the biggest mistake we made was not going in the direction of trend and being stuborn and paid the price.
thx god it didnt cost us real money

my scalping days are over!
  • #55,966
  • Edited 1:40pm Feb 26, 2008 1:37pm | Edited 1:40pm
Quoting Runway Trade

I know this has been a nice run up,butAsh can you please comment on the monthly chart. Two pin bars so price should turn, but there was two pin bars in Feb and March 2007 as well but prices went up. MA crossing, Stoch in over bought on monthly chart. Lots of resistans over the years at around the 1.9855. Monthly chart still looking bearish?
With the possibility of the Fed cutting rates by .50 basis points, the Bull's coming back, GU along with other higher yieleding currencies will be making new highs so long as the market is willing to tolerate risks.

Nothing is concrete / 100%. Everything is purely speculation. Like Bullrock stated "5% fundamental & 95% technical".

For now, if the bulls are truly back, we can probably see 2.03, only if this is a true bull rally but from the looks of it, it seems as though.

Follow the charts on the higher TF's and you will get a clearer picture.
Humble Lifetime Member
  • #55,967
  • Feb 26, 2008 1:38pm Feb 26, 2008 1:38pm
Quoting nAVIN2007
u see salah..trading is more than just knowing what to do, its a bout focus as well as chart analysis..the biggest mistake we made was not going in the direction of trend and being stuborn and paid the price.
thx god it didnt cost us real money

my scalping days are over!
your right but i had the trend all wrong
i need to work on my technical analysis more.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,968
  • Feb 26, 2008 1:40pm Feb 26, 2008 1:40pm
Quoting Ash
With the possibility of the Fed cutting rates by .50 basis points, the Bull's coming back, GU along with other higher yieleding currencies will be making new highs so long as the market is willing to tolerate risks.

Nothing is concrete / 100%. Everything is purely speculation. Like Bullrock stated "5% fundamental & 95% technical".

Follow the charts on the higher TF's and you will get a clearer picture.
u have to remember BOE meeting is be4 FED meeting
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,969
  • Edited 1:44pm Feb 26, 2008 1:44pm | Edited 1:44pm
Quoting salah k.
u have to remember BOE meeting is be4 FED meeting
True, but if the bulls are truly back, whether the BOE cuts or doesn't, it probably won't matter.

I am not going to go into too much detail as to what I utilize to guage market sentiment. That's been my hard work and hopefully, one day, I'll share my findings.
Humble Lifetime Member
  • #55,970
  • Feb 26, 2008 1:45pm Feb 26, 2008 1:45pm
Quoting nAVIN2007
it wasnt luck just excellent entery...welldone buddy
Nav/Salah I have no idea why this is true but if you draw a TL on a 4 hr chart it does not translate well down to a 15 without tweaking, it’s the same whenever you try to get lines from one extreme TF to another.
I do feel bad I told you I would have put my stop loss under that steep TL in fact I would not I actually .I would have it under the more major one if I was to have one close by price but did not want anyone to lose money on my account. But really when you think about it that advise would actually cost someone money.
But really you are still missing the point, you did not need to get that line to the 15 min as everything you needed was right there in the 4 Hr all that noise on the 15 min got you on the wrong side of market, no?

The other thing I forgot to mention is that the four hour bar before that looks like an inverted hammer, actually looked quite bullish to me as it looked like there was a lot of profit taking at the 9750 resistance but the overall the immediate 4hr trend was intact.
The point is all this was much easier to spot than being zoomed in on a 15 min.

Don’t get me wrong I know im keen and green ,but I see you as keener and greener ,so maybe I can help you ,do you know what I mean?

On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #55,971
  • Feb 26, 2008 1:55pm Feb 26, 2008 1:55pm
Quoting Bones
Nav/Salah I have no idea why this is true but if you draw a TL on a 4 hr chart it does not translate well down to a 15 without tweaking, it’s the same whenever you try to get lines from one extreme TF to another.
I do feel bad I told you I would have put my stop loss under that steep TL in fact I would not I actually .I would have it under the more major one if I was to have one close by price but did not want anyone to lose money on my account. But really when you think about it that advise would actually cost someone money.
But really you are still missing the point, you did not need to get that line to the 15 min as everything you needed was right there in the 4 Hr all that noise on the 15 min got you on the wrong side of market, no?

The other thing I forgot to mention is that the four hour bar before that looks like an inverted hammer, actually looked quite bullish to me as it looked like there was a lot of profit taking at the 9750 resistance but the overall the immediate 4hr trend was intact.
The point is all this was much easier to spot than being zoomed in on a 15 min.

Don’t get me wrong I know im keen and green ,but I see you as keener and greener ,so maybe I can help you ,do you know what I mean?
yes my friend i understand wat u mean
and thnx for elaborating and helping us.
truly appreciated.
u are one of the best and most accurate here keep it up mate.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,972
  • Feb 26, 2008 1:57pm Feb 26, 2008 1:57pm
Quoting Ash
With the possibility of the Fed cutting rates by .50 basis points, the Bull's coming back, GU along with other higher yieleding currencies will be making new highs so long as the market is willing to tolerate risks.

Nothing is concrete / 100%. Everything is purely speculation. Like Bullrock stated "5% fundamental & 95% technical".

For now, if the bulls are truly back, we can probably see 2.03, only if this is a true bull rally but from the looks of it, it seems as though.

Follow the charts on the higher TF's and you will get a clearer picture.
Thanks but it is the higher TF that are confusing me. weekly bullish monthly bearish???? Thanks anyway will re-look at all
  • #55,973
  • Feb 26, 2008 2:00pm Feb 26, 2008 2:00pm
selling this pair was a big mistake for any one who went short, long all the way, 4x trader we was on the same path
If I Go Broke Trying Then I Will die happy.
  • #55,974
  • Feb 26, 2008 2:02pm Feb 26, 2008 2:02pm
Quoting Moe
selling this pair was a big mistake for any one who went short, long all the way, 4x trader we was on the same path
I sold it from 2.10xx all the way down to around 1.96xx or was it 1.95xx??? Don't remember but you won't find me shorting this unless I see something in th fundamentals.
Humble Lifetime Member
  • #55,975
  • Feb 26, 2008 2:04pm Feb 26, 2008 2:04pm
You have to be insane to get in long at this point. 150 pips in 3 hours - the UK fundamentals do not support this rapid pace, just watch what happens when the GDP number falls below expectations which will be the third release in 24 hours to be negative. This is a purely commodity-driven rally -- look at the silver price. The Fed will not be cutting by 50 bp in March given all the U.S. inflation data, as well as recovery in the equity markets.

Then again, emotion always comes before reason in the markets, so all you can do is roll with it and possibly profit from the euphoria as well as the panic.
  • #55,976
  • Feb 26, 2008 2:07pm Feb 26, 2008 2:07pm
Quoting Bones
Nav/Salah I have no idea why this is true but if you draw a TL on a 4 hr chart it does not translate well down to a 15 without tweaking, it’s the same whenever you try to get lines from one extreme TF to another.
I do feel bad I told you I would have put my stop loss under that steep TL in fact I would not I actually .I would have it under the more major one if I was to have one close by price but did not want anyone to lose money on my account. But really when you think about it that advise would actually cost someone money.
But really you are still missing the point, you did not need to get that line to the 15 min as everything you needed was right there in the 4 Hr all that noise on the 15 min got you on the wrong side of market, no?

The other thing I forgot to mention is that the four hour bar before that looks like an inverted hammer, actually looked quite bullish to me as it looked like there was a lot of profit taking at the 9750 resistance but the overall the immediate 4hr trend was intact.
The point is all this was much easier to spot than being zoomed in on a 15 min.

Don’t get me wrong I know im keen and green ,but I see you as keener and greener ,so maybe I can help you ,do you know what I mean?
yur right ....completely
glad it happened because i think this mistake is a turning point for me. i wont trade using this time frames to make decisions, which is what i did all because i thought market was turning back.
the resistance i felt was to much for asian market and closing of UK market was a kinda confirmation, ..I was thinking so much out of the box and i paid the price.
thx tony yur example will stay with me forever your a credit to this site.
  • #55,977
  • Feb 26, 2008 2:08pm Feb 26, 2008 2:08pm
Quoting Subdude
You have to be insane to get in long at this point. 150 pips in 3 hours - the UK fundamentals do not support this rapid pace, just watch what happens when the GDP number falls below expectations which will be the third release in 24 hours to be negative. This is a purely commodity-driven rally -- look at the silver price. The Fed will not be cutting by 50 bp in March given all the U.S. inflation data, as well as recovery in the equity markets.

Then again, emotion always comes before reason in the markets, so all you can do is roll with it and possibly profit from the euphoria as well as the panic.
Fundamentals, some what they do but mostly the appetite for risk.
Humble Lifetime Member
  • #55,978
  • Feb 26, 2008 2:16pm Feb 26, 2008 2:16pm
Quoting Subdude
You have to be insane to get in long at this point. 150 pips in 3 hours - the UK fundamentals do not support this rapid pace, just watch what happens when the GDP number falls below expectations which will be the third release in 24 hours to be negative. This is a purely commodity-driven rally -- look at the silver price. The Fed will not be cutting by 50 bp in March given all the U.S. inflation data, as well as recovery in the equity markets.

Then again, emotion always comes before reason in the markets, so all you can do is roll with it and possibly profit from the euphoria as well as the panic.
thats wat ive been trying to get into my head i mean
UK fundamentals are very weak
is the market overlooking it??????????????
there is a rate cut(from BOE) no doubt so wats going on.
technically i was killing myself to enter the market to long but UK fundamentals and US fundamentals kept pushing me back.

technically my charts tell me bullish but for a country thats heading into economic turmoil and possible recession its best to stay out.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,979
  • Feb 26, 2008 2:18pm Feb 26, 2008 2:18pm
the thing is with a rally like that who the hell would go short? ..it will only go down if theres resistance level which frightens people. psychology will prevent sellers from entering right now..this is nuts but nice to see happen it gives hope
  • #55,980
  • Feb 26, 2008 2:24pm Feb 26, 2008 2:24pm
Quoting nAVIN2007
the thing is with a rally like that who the hell would go short? ..it will only go down if theres resistance level which frightens people. psychology will prevent sellers from entering right now..this is nuts but nice to see happen it gives hope
with a rally like that it would feel like its too late to long and too dangerous to short and too cowardly to stay out.

so wat's our best option my brother.
u tell me.
"what doesn't bankrupt me, makes me stronger" modern nietzche
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