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Cable Update (GBPUSD)

  • #57,461
  • Mar 7, 2008 3:41am Mar 7, 2008 3:41am
Quoting nAVIN2007
lessy buddy i going live next week ...
Wish you all the best
  • #57,462
  • Mar 7, 2008 3:48am Mar 7, 2008 3:48am
Well I do feel a little bit silly for not trading my weekly plan posted last weekend (unaltered and attached)as price is sitting right on my target (I came all out at 2.0060 from my best long entry at 1.9740)
I mean now price is at my target im really not sure what to do , lol.
Price right now is sitting right in the middle of of my daily channel (attached)
I will probably wait till before the news and have got some cheeky buys set up near the 2 mark
Laters guys
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly.gif Size: 23 KB
Click to Enlarge Name: day.gif Size: 22 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,463
  • Mar 7, 2008 3:50am Mar 7, 2008 3:50am
Quoting nAVIN2007
america data isnt good ..theres a recession, theres a lot of issues, i think the fumamentals are now kicking in....remember that monthly chart its all comming together...all im saying is u never know and dont short unless u have a signal on a high time frame to suggest a reversal...
I know we have a lot of bullish candles and u have to expect a bearish candle on daily but i think we are only really going up! ...it shall be interesting to see..
Thank you for advice. I'll learn with my remaining penny ...
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #57,464
  • Mar 7, 2008 4:01am Mar 7, 2008 4:01am
Quoting manize
Thank you for advice. I'll learn with my remaining penny ...
please dont do anything because i said what i did ...i really havent got a clue, just speaking out aloud, so i can be corrected...it can goup but just as easy come down.....im of to work and havent had a chance to look in depth ...if in doubt stay out of the market learn this...u will be successfull

later guys ..good luck with the trades
  • #57,465
  • Mar 7, 2008 4:06am Mar 7, 2008 4:06am
Quoting Bones
Well I do feel a little bit silly for not trading my weekly plan posted last weekend (unaltered and attached)as price is sitting right on my target (I came all out at 2.0060 from my best long entry at 1.9740)
I mean now price is at my target im really not sure what to do , lol.
Price right now is sitting right in the middle of of my daily channel (attached)
I will probably wait till before the news and have got some cheeky buys set up near the 2 mark
Laters guys
This is very interesting to me.
This is the same problem faced by all traders .........scalpers, daily, weekly, monthly and yearly cycle traders, super cycle wave counters, etc. If you are sure that it is going to be bull or bear, do you have money to support
your risk?

Sometimes direction may be right but market can put us in losses or minimal profit for the first few days before swinging up even in the last day of the week, or month or year, depending the cycle one is using.
  • #57,466
  • Mar 7, 2008 4:23am Mar 7, 2008 4:23am
Quoting nAVIN2007
america data isnt good ..theres a recession, theres a lot of issues, i think the fumamentals are now kicking in....remember that monthly chart its all comming together...all im saying is u never know and dont short unless u have a signal on a high time frame to suggest a reversal...
I know we have a lot of bullish candles and u have to expect a bearish candle on daily but i think we are only really going up! ...it shall be interesting to see..
hey my friend i told u im keepin my longs just dont be surprised with a sudden change of trend because no body thought we would see 9500 area after we reached 2.11 and guess wat we saw 9300 area.

i wouldnt bet too much about continuous dollar weakness because we will sooner or later see a rebound and it will be one hell of a rebound.

plus dude im making a lot from commodities and i decided to turn live next week only a 1160$ account. wish me luck bro i will keep u posted.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,467
  • Mar 7, 2008 6:47am Mar 7, 2008 6:47am
looks like we have a triangle forming here on the 15 minute chart..Will be interesting to see which side it breaks..I news might push it down in another 45 mins or so and we could be heading down for the rest of the day??
Attached Image
  • #57,468
  • Mar 7, 2008 6:56am Mar 7, 2008 6:56am
I have gone long off my blue 2.0120 line just then. I have another buy over recent highs and one near the bottom of my channel. Target is 2.0280.
I am looking for the weekly close to be 2.0120 or more so that is one of my main reasons of many to proceed with longs and taking an entry now.
Also as I posted before I do see 2.0475 at least.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 27 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,469
  • Mar 7, 2008 7:09am Mar 7, 2008 7:09am
Quoting fxbroker
This is very interesting to me.
This is the same problem faced by all traders .........scalpers, daily, weekly, monthly and yearly cycle traders, super cycle wave counters, etc. If you are sure that it is going to be bull or bear, do you have money to support
your risk?

Sometimes direction may be right but market can put us in losses or minimal profit for the first few days before swinging up even in the last day of the week, or month or year, depending the cycle one is using.
Yes that is interesting have said before MM is not my strong point. I have started splitting what would be 1 bet and in general risking less and able to hold out longer on each trade and found this to be helping me greatly. Really if that last trade goes against me straight away I am not that worried as I feel I can trade myself out of it because I feel I have a sound long term view, do you know what I mean ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,470
  • Mar 7, 2008 7:09am Mar 7, 2008 7:09am
why is everybody so afraid of the N.F.P.. ? isn't it too obvious this time? All along with the other economic data makes a great looking picture.. Leave your fear behind and trade, that's the best choice here i bet.
{Promotion Removed}
  • #57,471
  • Mar 7, 2008 7:16am Mar 7, 2008 7:16am
Quoting abuzant
why is everybody so afraid of the N.F.P.. ? isn't it too obvious this time? All along with the other economic data makes a great looking picture.. Leave your fear behind and trade, that's the best choice here i bet.
dont underestimate the power of that number. if it comes week which im hoping it would we might see 2.0250 today. if string well i dont know but it might trigger a rebound for dollar.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,472
  • Mar 7, 2008 7:21am Mar 7, 2008 7:21am
0240 then 0450

if NFP supports otherwise ask makey
Trade what you see, not what you think.
  • #57,473
  • Mar 7, 2008 7:22am Mar 7, 2008 7:22am
Hello & Thanks Salah,

Even though i am not a fundie, i do understand those numbers. But let's assume it was good for the U.S., which is 1% of the chances.. would that really help them out? For me, looks like something bigger and more strong is needed for a USD good rebound, they are in like a 1000 problems which NFP itself cant fix; it can hurt our trades a little but it is not that important.

My advise would be NOT to trade on the news, wait 10-20 minutes to see the initial market reaction. If it dips, buy from below, if it rallies up, place small longs on the go with a 50 pip TP each.. That's what i am gonna be doing at least..

Thanks and have a nice NFP
{Promotion Removed}
  • #57,474
  • Mar 7, 2008 7:26am Mar 7, 2008 7:26am
Quoting abuzant
Hello & Thanks Salah,

Even though i am not a fundie, i do understand those numbers. But let's assume it was good for the U.S., which is 1% of the chances.. would that really help them out? For me, looks like something bigger and more strong is needed for a USD good rebound, they are in like a 1000 problems which NFP itself cant fix; it can hurt our trades a little but it is not that important.

My advise would be NOT to trade on the news, wait 10-20 minutes to see the initial market reaction. If it dips, buy from below, if it rallies up, place small longs on the go with a 50 pip TP each.. That's what i am gonna be doing at least..

Thanks and have a nice NFP
no my friend of course not i am sticking with my longs for the moment but a couple of days ago i was bearish to the max and cables trend technically was bearish but look wat the news did.

so i always keep an eye on fundies because i might alter my tp an sl plus i am trading commodities (silver)
good luck to u 2
salam
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,475
  • Mar 7, 2008 7:29am Mar 7, 2008 7:29am
Quoting karmostaji
0240 then 0450

if NFP supports otherwise ask makey
thankssssssssssssssssssssssssssssssss
Attached Image
  • #57,476
  • Mar 7, 2008 7:44am Mar 7, 2008 7:44am
do the numbers make any sense
seriously unemployment down and less jobs are being created every month.
wat the hell.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,477
  • Mar 7, 2008 7:47am Mar 7, 2008 7:47am
I thought this would make GBP/USD go a bit more bullish.
  • #57,478
  • Mar 7, 2008 7:50am Mar 7, 2008 7:50am
Quoting Abuawad
thankssssssssssssssssssssssssssssssss
make sure the pattern is valid b4 you trade, check the ratios and see if they make any sense.

harmonictrader.com explains it well
Trade what you see, not what you think.
  • #57,479
  • Mar 7, 2008 7:54am Mar 7, 2008 7:54am
Quoting karmostaji
make sure the pattern is valid b4 you trade, check the ratios and see if they make any sense.

harmonictrader.com explains it well
thanks again
  • #57,480
  • Mar 7, 2008 8:02am Mar 7, 2008 8:02am
why is going down with so bad data?..

market sentiment..before the news... up up up...the news.. more up up up.. and boom.. down... like the january nfp and february... this nfp news is something spucky to me..

now it could go down based on the last two nfp..

any other opinions?

trade wise.
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