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Cable Update (GBPUSD)

  • #57,041
  • Mar 4, 2008 6:10am Mar 4, 2008 6:10am
Quoting CounterTrend
Indeed, I think dollar sell off is really overdone especially versus the swissy. COT data from last week show dollar will find a bottom soon. But how can we know it?
i think we can c a bottom wen commodities start going south.
wen gold retreats back to 950 silver to 19$ e.t.c...
im not sure if thats a good way to find out
feel free to correct me.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,042
  • Mar 4, 2008 6:16am Mar 4, 2008 6:16am
Quoting salah k.
i think we can c a bottom wen commodities start going south.
wen gold retreats back to 950 silver to 19$ e.t.c...
im not sure if thats a good way to find out
feel free to correct me.
Tommorow will be OPEC meeting - gold will go down. Here's your bottom
  • #57,043
  • Mar 4, 2008 6:20am Mar 4, 2008 6:20am
Quoting Bones
Well I was waiting to buy a dip but im not sure we will get it, I think Nav is correct tomorrow its up my friends if it touches 1.9810 I am long.
Unless its down Makey, lol, I really hate going against you lol

Space has been made for the next move ,no?
Oh man I hate to quote myself from last night but…..
Actually I never had full confidence it would touch that so at that time I brought (9852) for half what I was thinking and set the bet to buy at 1.9810 for the other half ,i also have more buys if it drops further
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,044
  • Mar 4, 2008 6:27am Mar 4, 2008 6:27am
Quoting sDRs
Tommorow will be OPEC meeting - gold will go down. Here's your bottom
so im right commodities will tell us about dollar.
but wat if opec said they will decrease production.
oil will push gold up with it????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,045
  • Mar 4, 2008 6:30am Mar 4, 2008 6:30am
I think it just goes to show how difficult forex is to predict, even with just one pair like gb/us, no one can say for certain which direction we are heading and when any break out will occur. It is quite amazing to think that we have all these indicators, trendlines, fibos etc etc and are still struggling ha ha
respect to you all fellow optimists
Tom(uk)
  • #57,046
  • Mar 4, 2008 6:35am Mar 4, 2008 6:35am
Quoting booktimes
I think it just goes to show how difficult forex is to predict, even with just one pair like gb/us, no one can say for certain which direction we are heading and when any break out will occur. It is quite amazing to think that we have all these indicators, trendlines, fibos etc etc and are still struggling ha ha
respect to you all fellow optimists
Tom(uk)
u c its not always that difficult. the difficult part these days is lying in the USD part of GBP/USD. the market reaction for dollar these days is highly exaggerated. thats y trading pairs against usd isn't easy no matter how many indicators u have.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,047
  • Mar 4, 2008 6:47am Mar 4, 2008 6:47am
Quote
trading pairs against usd isn't easy no matter how many indicators u have.

Golden words. The market has been a heaven for advanced scalpers, they probably made a ton worth of pips. Long term traders and those with less patience to wait have been losing in both directions.. Just wait for that 1.980/1.9930 triangle to breakup in a direction or another then start firing your guns
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  • #57,048
  • Mar 4, 2008 7:09am Mar 4, 2008 7:09am
Quoting booktimes
I think it just goes to show how difficult forex is to predict, even with just one pair like gb/us, no one can say for certain which direction we are heading and when any break out will occur. It is quite amazing to think that we have all these indicators, trendlines, fibos etc etc and are still struggling ha ha
respect to you all fellow optimists
Tom(uk)
I agree with you forex is more difficult since the start of the year due to fear uncertainties of traders. Remember it is the actions and reactions of traders we follow.

However, indicators or trendlines or fibos don't tell and cannot tell where the market is heading to. It is the market itself and there are more efficient ways you can follow the market to some degree of success without orthodox trading techniques.
  • #57,049
  • Mar 4, 2008 7:25am Mar 4, 2008 7:25am
Yep another tricky day, even on my 1M system the moves are too small too wait for the turn, and cover the spread to leave any room for profit.

Interesting trying to make money outta this hey!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,050
  • Mar 4, 2008 7:25am Mar 4, 2008 7:25am
This is not our lovely environment. Face our strongest fear guys. The massive carry trade unwinding, the credit crunch.

The old good days of carry trade building, and the interest paid on USDJPY, GBPJPY, AUDJPY, EURJPY, NZDJPY.. the old days have gone.

Now you buy, you get burnt!

It's really awesome if we can stand trading in such environment. The mkt only says rumour.. "$XXX writedown" then all your carry trades get killed in matter of minutes.

The older times there have been slow, steady, upside moves with no over reaction or too much volatility. Euro can make 200 pips easily today's market.

Ah, forgot that EURCHF and EURGBP do you actually remember their old true range? Go figure
  • #57,051
  • Mar 4, 2008 7:44am Mar 4, 2008 7:44am
Anyone considered going to the Dole office / job centre explaining the markets too range bound and asking if you can sign on until the conditions improve
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,052
  • Mar 4, 2008 7:50am Mar 4, 2008 7:50am
Patience.. less than an hour left and all will be obvious..
Uncle B. is on his way to the conference .. I have a strong feeling we are pupming into the $2 area today.. Donno Y!!
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  • #57,053
  • Mar 4, 2008 7:51am Mar 4, 2008 7:51am
Quoting karmostaji
Price went down, got rejected..

if price can't go down, it will go UP
Blair got rejected not price
Blogging daily now at www.volume.zone
  • #57,054
  • Mar 4, 2008 7:53am Mar 4, 2008 7:53am
Quoting malcolmb14
Blair got rejected not price
I could careless about blair or brown lol
Trade what you see, not what you think.
  • #57,055
  • Mar 4, 2008 7:54am Mar 4, 2008 7:54am
Quoting Turveyd
Anyone considered going to the Dole office / job centre explaining the markets too range bound and asking if you can sign on until the conditions improve
I am in Canada but am form London

That cracked me up
Blogging daily now at www.volume.zone
  • #57,056
  • Mar 4, 2008 7:57am Mar 4, 2008 7:57am
Quoting karmostaji
I could careless about blair or brown lol
Currency can be driven by the perception of the country and foreign investors of if the person in power is good or bad for the currency.

Watch what happens to USD in November durung the us elections.

Who is in power is very interlinked with currency
Blogging daily now at www.volume.zone
  • #57,057
  • Mar 4, 2008 7:58am Mar 4, 2008 7:58am
Having a laugh is a close second to make $$$'s

I should post the times I've got to go out today, thats the time we'll get the moves, like yesterday!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,058
  • Mar 4, 2008 7:59am Mar 4, 2008 7:59am
Quoting malcolmb14
Currency can be driven by the perception of the country and foreign investors of if the person in power is good or bad for the currency.

Watch what happens to USD in November durung the us elections.

Who is in power is very interlinked with currency
IMO news will always be somehow priced in the charts, so I trade the charts without giving myself a headache about news and it's been pretty profitable for me
Trade what you see, not what you think.
  • #57,059
  • Mar 4, 2008 8:04am Mar 4, 2008 8:04am
well thats good bernanke did not flip the markets.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,060
  • Mar 4, 2008 8:06am Mar 4, 2008 8:06am
If worth knowing when the news is to avoid the market and also to realize range bound until the news in some cases, but no absolutely do not read the news, it sets up a opinion / bias as to the direction of the market, which more often than not the market ignores and therefore you get chewed out.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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