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Cable Update (GBPUSD)

  • #57,601
  • Mar 9, 2008 9:52pm Mar 9, 2008 9:52pm
Quoting TraderJR
Hey welcome back 4xT

When U say ur xtal ball is "lost" I take it you mean you do not have an entry at the moment tho from the info you gave, a long entry around 2.011 might be good if it gets down to there and if it holds..

Thanx for sharing

cheers
Right you are TJ! Tnx as well bro!
  • #57,602
  • Mar 9, 2008 9:54pm Mar 9, 2008 9:54pm
Hi guys,

Here is my outlook for the week ahead:

Pound has remained above 2.0033 (38% Fibonacci retracement from 2.1160 to 1.9336) after dismal NFPs figure (a drop of -63k) report last Friday on the US economy. According to DailyFX, the Fed would most likely have no choice but to cut interest rates by 75bp.

Technically, the momentum has once again shifted upwards with 55-EMA on the weekly chart broken (align with major uptrend). This is no good news for the Dollar as possible upcoming UK inflation report could suggest that BoE is not yet poised for a rate cut. Immediate minor resistance seen at 2.0248 with a firm break above should see the movement all the way up to 2.0463 with no significant resistance along the way. On the downside, should see strong support at 1.9889 with 2.0013 act as minor support area. Bias on the upside for this week.
  • #57,603
  • Mar 9, 2008 11:07pm Mar 9, 2008 11:07pm
Quoting 4x_Trader
My guide for this week....

GBP/USD developing a 3-wave rally from 1.9361 (20 Feb higher low) to set a new yearly high at the projected 3-week bull channel top at 2.0214 last friday. Hourly RSI positive reversal projects a target zone at 2.0310 but for now, temporary easing towards last Thur's 2.0112 high may precede extension to 2.0224/46 (17 Dec 07 high/50% retrace of 2.1158-1.9334 decline). Only a close below 2.0080 (low last friday) defers however....let's see how it goes...


PS: Just an info and not a reco!

Man i cant agree more on those calls, its exactly dead on to what i was predicting.

Regardless, i have made 2 wrong calls on the shorts, my next short is 310, i too have seen that 3rd wave produce but i didnt expect it to be this long until now. whoever followed hang tight, she'll turn around .... my first exit is at 9900 Deff.. even if it takes me months lol
And your mouth dropped
  • #57,604
  • Edited Mar 10, 2008 12:31am Mar 9, 2008 11:13pm | Edited Mar 10, 2008 12:31am
Quoting Abuawad
Yes this is my real name and photo
Reminds me of the photos I used to see in my local cinema as a boy, of famous actors (most of whom wore suits and had moustaches).

Re your method, do you apply it only during a certain part of the day e.g. when there is more activity (like an hour or two before the London Open up to a few hours after New York opens) rather than the slow part of the day outside those hours when (often) nothing much happens? Or does it not matter?

TIA
Darkness lies one inch ahead..
  • #57,605
  • Mar 10, 2008 1:24am Mar 10, 2008 1:24am
Quoting TraderJR
Reminds me of the photos I used to see in my local cinema as a boy, of famous actors (most of whom wore suits and had moustaches).

Re your method, do you apply it only during a certain part of the day e.g. when there is more activity (like an hour or two before the London Open up to a few hours after New York opens) rather than the slow part of the day outside those hours when (often) nothing much happens? Or does it not matter?

TIA
it doesn't matter, but for sure the speed of complete the target depend on who are in the market. for me i enter before london with 1 hour and out with US.
  • #57,606
  • Mar 10, 2008 2:00am Mar 10, 2008 2:00am
Quoting Abuawad
it doesn't matter, but for sure the speed of complete the target depend on who are in the market. for me i enter before london with 1 hour and out with US.
did u buy at 2.0170 ? or u wait at 2.0188 ?
  • #57,607
  • Mar 10, 2008 2:18am Mar 10, 2008 2:18am
Quoting nAVIN2007
lessy buddy i going live next week ...
All the best, MANY pips to you.

  • #57,608
  • Mar 10, 2008 2:56am Mar 10, 2008 2:56am
Quoting T 1 Ti
did u buy at 2.0170 ? or u wait at 2.0188 ?

read the note in the analysis photo and you will find the answer for you all questions.
  • #57,609
  • Edited 4:00am Mar 10, 2008 3:08am | Edited 4:00am
Quoting AmeriTrini
All the best, MANY pips to you.

thanks man! ..Im sure i will be ok and am greatfull i found this place cause of guys like yourself who have really opened my eyes and have shown me how to trade using daily time frames to make profit
Without your contributions...I surely would have blown a live account long ago, U single handedly may have saved me from this U mentioned it to me and tony confirmed (drumed it into my head..lol)...I cannot thank u enough man. many pips to u too
  • #57,610
  • Mar 10, 2008 3:43am Mar 10, 2008 3:43am
poor fxdaily, i know you miss this thread
If I Go Broke Trying Then I Will die happy.
  • #57,611
  • Mar 10, 2008 3:45am Mar 10, 2008 3:45am
that guy get banned more times than some people make profit ...
  • #57,612
  • Mar 10, 2008 4:07am Mar 10, 2008 4:07am
didnt everyone send him money to trade ?????........lol
  • #57,613
  • Mar 10, 2008 4:29am Mar 10, 2008 4:29am
hey guys i just did the paper work and i opened a live account with 1000$
yaaaaaaaaaaaaaay.
wish me luck.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,614
  • Mar 10, 2008 4:30am Mar 10, 2008 4:30am
Quoting salah k.
hey guys i just did the paper work and i opened a live account with 1000$
yaaaaaaaaaaaaaay.
wish me luck.
goodluck man ......!!!!!!!!!!!!
U couldnt resist !!!! ..i wish u all the luck in the world be disciplined and only enter a high profit low risk trade...mm rules all the way bro
  • #57,615
  • Mar 10, 2008 4:32am Mar 10, 2008 4:32am
UK fundamentals area pretty weak
WTF
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,616
  • Mar 10, 2008 4:33am Mar 10, 2008 4:33am
Quoting salah k.
UK fundamentals area pretty weak
WTF
why is it buying then?
  • #57,617
  • Mar 10, 2008 4:35am Mar 10, 2008 4:35am
Quoting morse
why is it buying then?

it forex just playing ...we still have to break tghe support ..if it does then i guess 61% fib is the one to watch...
  • #57,618
  • Mar 10, 2008 4:38am Mar 10, 2008 4:38am
Quoting nAVIN2007
goodluck man ......!!!!!!!!!!!!
U couldnt resist !!!! ..i wish u all the luck in the world be disciplined and only enter a high profit low risk trade...mm rules all the way bro
u are perfectly correct man : MM
i am gonna trade larger time frames and max of 0.1 lot
plus im not looking for a lot of money im just trying to expand the account over time(kinda like putting it in the bank but with higher interest)

if that works out i might increase the capital
thnx man for all ur advice
i'll keep u posted.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,619
  • Mar 10, 2008 4:38am Mar 10, 2008 4:38am
Quoting salah k.
hey guys i just did the paper work and i opened a live account with 1000$
yaaaaaaaaaaaaaay.
wish me luck.
do u feel different in any way.....or the same? now u have a live account?
  • #57,620
  • Mar 10, 2008 4:40am Mar 10, 2008 4:40am
Quoting nAVIN2007
it forex just playing ...we still have to break tghe support ..if it does then i guess 61% fib is the one to watch...
Reading the news the PPI Input was strong!!
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