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Cable Update (GBPUSD)

  • #57,761
  • Mar 11, 2008 5:20am Mar 11, 2008 5:20am
Nav I have gone long from my channel support,(I did post this yesturday night)and if price went further down I would have added to it at 1.9980 (just above my next support)
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  • #57,762
  • Mar 11, 2008 5:25am Mar 11, 2008 5:25am
lets say it fails to brake 2.0220 (for the third time)
does anybody think it will continue north?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,763
  • Mar 11, 2008 5:26am Mar 11, 2008 5:26am
Quoting Bones
Nav I have gone long from my channel support,(I did post this yesturday night)and if price went further down I would have added to it at 1.9980 (just above my next support)
Bones, have been observing your posts, great charts you got there, clear and have been pretty spot on the last few movements. Hope you did place those trades! I took the bounce from 2.0060 as well, although more from perspective of coming news releases.

Thanks for sharing, great pips to you buddy.
Trade the reaction, not the news!
  • #57,764
  • Mar 11, 2008 5:28am Mar 11, 2008 5:28am
Quoting Bones
Nav I have gone long from my channel support,(I did post this yesturday night)and if price went further down I would have added to it at 1.9980 (just above my next support)
yep yep u hit the nail on the head..yur becoming a fantastic trader!!! I went long too at that trendline (bottom) but i was thinking about buying at a dip what do u do went price increase like this.....when do u usual deide to enter when theres no dips...or do u just wait for the nect opportunity as this is missed?
  • #57,765
  • Mar 11, 2008 5:32am Mar 11, 2008 5:32am
Quoting salah k.
lets say it fails to brake 2.0220 (for the third time)
does anybody think it will continue north?
News will tell, if it does break then will test next daily resistance at 2.0294 and then 2.0370. Otherwise, will retrace back to 38.2% fib (2.1153-1.9359) again, or lower to 1.9800 levels.
Trade the reaction, not the news!
  • #57,766
  • Mar 11, 2008 5:40am Mar 11, 2008 5:40am
guys check out oil
unfreakin-believable
were is still going
i mean it will kill us if it keeps flying.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,767
  • Mar 11, 2008 5:42am Mar 11, 2008 5:42am
Quoting salah k.
guys check out oil
unfreakin-believable
were is still going
i mean it will kill us if it keeps flying.
how is oil related to cable? ...i have no idea?
  • #57,768
  • Mar 11, 2008 5:54am Mar 11, 2008 5:54am
Quoting nAVIN2007
how is oil related to cable? ...i have no idea?
im sorry nav i didnt mean to shift ur focus off cable

but anyway i think that wen oil is strong gold and silver follow and dollar becomes weak
hence strength in gbp/usd is witnessed

its a long shot but it makes sense to me
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,769
  • Mar 11, 2008 5:59am Mar 11, 2008 5:59am
Quoting salah k.
im sorry nav i didnt mean to shift ur focus off cable

but anyway i think that wen oil is strong gold and silver follow and dollar becomes weak
hence strength in gbp/usd is witnessed

its a long shot but it makes sense to me

bro honestly man do yourself a favor...i think if i had what u have in yur head id never make a trade...to many variables.....look at the charts
place support resistance, channels and basically look for breakouts..i think it will just follow on.....your your right the correlation seems logical
concern yourself with one chart whatever it is ....and focus on it (yur mind is everywhere (multiple charts, project) something has to give i hope its not yur account....make good choices buddy your spreading yur wings to wide
  • #57,770
  • Mar 11, 2008 6:09am Mar 11, 2008 6:09am
I need to fix up on mm rules myself but i get back my losses ..this is my report what do u guys think?
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  • #57,771
  • Mar 11, 2008 6:56am Mar 11, 2008 6:56am
Quoting salah k.
im sorry nav i didnt mean to shift ur focus off cable

but anyway i think that wen oil is strong gold and silver follow and dollar becomes weak
hence strength in gbp/usd is witnessed

its a long shot but it makes sense to me
I am not sure that is how the market moves.
Oil waits for GBP/USD to make a move, before it follows.

If cable move an inch higher than this today, oil will at least
touch 109.98/110.74 (almost 150pips). If cable fall, it is likely
going to fall with cable.

Except in days when we have US fundamental news on crude oil reserve
that oil follow its own course such days are almost like NFP for oil and gas.
  • #57,772
  • Mar 11, 2008 7:02am Mar 11, 2008 7:02am
i dont even know what currency oil is..
  • #57,773
  • Mar 11, 2008 7:10am Mar 11, 2008 7:10am
Quoting fxbroker
I am not sure that is how the market moves.
Oil waits for GBP/USD to make a move, before it follows.

If cable move an inch higher than this today, oil will at least
touch 109.98/110.74 (almost 150pips). If cable fall, it is likely
going to fall with cable.

Except in days when we have US fundamental news on crude oil reserve
that oil follow its own course such days are almost like NFP for oil and gas.
i dont mean any disrespect but thats doesnt make any sense at all

there is much more volume in oil trading than in cable trading.

plus oil has more effect on the dollar than cable hence it comes first plus if u notice the jump in oil today came be4 the jump in cable.

any comments are appreciated.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,774
  • Mar 11, 2008 7:15am Mar 11, 2008 7:15am
Im thinking we gonna break through this resistance i see diverence on 15 minute chart and its massive
what do u guys think? salah whats happening with the oil is it still rising?
the weaker the trade currency US the stronger the £ ..and its expected trade currency is supposed to be weaker...so i suppose this means we going up hill...i best get the clutch ready
  • #57,775
  • Mar 11, 2008 7:23am Mar 11, 2008 7:23am
Quoting nAVIN2007
Im thinking we gonna break through this resistance i see diverence on 15 minute chart and its massive
what do u guys think? salah whats happening with the oil is it still rising?
the weaker the trade currency US the stronger the £ ..and its expected trade currency is supposed to be weaker...so i suppose this means we going up hill...i best get the clutch ready
yes my friend new highs
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,776
  • Mar 11, 2008 7:24am Mar 11, 2008 7:24am
im just waiting for a confirmation from other commodities like gold and silver.
if they follow i think we might see dollar fall again.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,777
  • Mar 11, 2008 7:25am Mar 11, 2008 7:25am
ok, will my gbpchf come good now......i'm an eejit for taking this trade when i could have longed the gbp against usd or jpy. hopefully my analysis is good and it moves up a little bit
PIPPED TO THE LINE
  • #57,778
  • Mar 11, 2008 7:26am Mar 11, 2008 7:26am
we have us trade balance number in 5 minutes.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,779
  • Mar 11, 2008 7:26am Mar 11, 2008 7:26am
Quoting salah k.
i dont mean any disrespect but thats doesnt make any sense at all

there is much more volume in oil trading than in cable trading.

plus oil has more effect on the dollar than cable hence it comes first plus if u notice the jump in oil today came be4 the jump in cable.

any comments are appreciated.
No need to disrespect and disagree. the chart is there.
Nothing make sense in the market.
You maybe right and I maybe right too as I am refering to oil futures and not spot crude. but there is only slight difference in the behaviours of both.

Do you trade both GBP/USD and oil? I do.
GBP/USD was almost 2hrs ahead of oil in buying. At first oil was selling first and the reverse.

Give it a try, GBP/USD is now selling, if incoming data is good and it continue to sell, watch what oil will do
  • #57,780
  • Mar 11, 2008 7:29am Mar 11, 2008 7:29am
I really wish not to confuse any1 but the daily chart it indicating diverence in opposite direction.........it looks like we might go up but then fall again possibly..maybe i read diverence wrong..(no idea)
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