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Cable Update (GBPUSD)

  • #58,301
  • Mar 14, 2008 9:03am Mar 14, 2008 9:03am
Quoting fx local
US mich out at 70.5 vs feb 70.8 lowest since 1992
They call it stagflation here in the U.S. but that implies stagnation ie no up and no down - but what we have is a slump coming so I like 'slumpflation' which is what we had in the 70's

I have my UK house money to convert to USD but I dare not with this momentum up

so I am buying the dips !
  • #58,302
  • Mar 14, 2008 9:04am Mar 14, 2008 9:04am
Quoting nAVIN2007
BRO U ARE AMAZING EVERYDAY ...seems u never day a losing day..that is fantastic especially a day like today..are u scalping?
Patient watching the discussion, finally I got 70 pips from long. This is my highest record so far.
Thanks all,especially navin, bones and abuawad ! You're all the best !! :surprised
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #58,303
  • Mar 14, 2008 9:14am Mar 14, 2008 9:14am
Quoting Bones
Hi twofeet
I think the technical term for them is Price Pivot Zones.
When I originally went to the James 16 thread I looked at the last few pages first and im sure I read it there some time ago. It was then I put them on my chart.
I then some weeks later started to read that thread from the beginning and am now on page 40 (there are over 200) and they have not been mentioned yet so I am not fully up to speed with them .Im just showing you what I know now lol.
They are basically zones which are taken from the past bars which are known to be congestion areas.

Sounds great, I'll check out james 16 thread as well. Btw, can't go very wrong with trading the S+Rs, at least for EU and GU pairs, nice profits over the divergences.

It seems as though those institutional fellas follow the same style of analysis, which is great for us small traders! The more we mimic their sense of trade, the more profitable we'll be.
Trade the reaction, not the news!
  • #58,304
  • Mar 14, 2008 9:16am Mar 14, 2008 9:16am
It's a pity price isn't crossing R1 2.0393, otherwise, we'll be looking at 2.0462 (61.7% fib and R2) as next target. =)
Trade the reaction, not the news!
  • #58,305
  • Mar 14, 2008 9:26am Mar 14, 2008 9:26am
Quoting twofeet
It's a pity price isn't crossing R1 2.0393, otherwise, we'll be looking at 2.0462 (61.7% fib and R2) as next target. =)
patience my friend we still have benny speaking after 2 hours 35 min
he will drive us to 400
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,306
  • Mar 14, 2008 9:27am Mar 14, 2008 9:27am
Having a day off here, full time trading + working kinda has killed me!!

Going to post 600pips of ammo to, 10x's what I've got spare currently might help!!

MUST RESIST URGE TO TRADE!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,307
  • Mar 14, 2008 9:47am Mar 14, 2008 9:47am
almost 400 and benny hasnt spoken yet
gr8 momentum
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,308
  • Mar 14, 2008 9:50am Mar 14, 2008 9:50am
Quoting manize
Patient watching the discussion, finally I got 70 pips from long. This is my highest record so far.
Thanks all,especially navin, bones and abuawad ! You're all the best !! :surprised
thanks man ...
welldone buddy..b4 we know it we all will make money ...be carefull thou ..i dont think its great to try and get 50+ pips here and there ...this is a congested market right now..that top line need to break...keep stop loss tight buddy

Im also improving day by day at least today im using the SP where as in the past i wasnt.....good luck today with the pips and make sure u dont lose what u gain..dont get over confident cause then what the market is waiting for.
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  • #58,309
  • Mar 14, 2008 9:53am Mar 14, 2008 9:53am
we all waiting for 'benny boy' to tell us that the Fed will cut further and up and away GBP goes.
  • #58,310
  • Mar 14, 2008 9:55am Mar 14, 2008 9:55am
Nice profits Navin! keep em'coming!

hmm so what do we have here, 150 pips and counting, love eating pips!
I believe . . .
  • #58,311
  • Mar 14, 2008 9:56am Mar 14, 2008 9:56am
Quoting Turveyd
Having a day off here, full time trading + working kinda has killed me!!

Going to post 600pips of ammo to, 10x's what I've got spare currently might help!!

MUST RESIST URGE TO TRADE!!
have u seen my results today ...improvement hey bud or what
  • #58,312
  • Mar 14, 2008 10:09am Mar 14, 2008 10:09am
even if the top line break today i doubt people will hold there position according to tone (bones) we in for a rocky ride up..its where the congestion get a bit worse...lets see what happens
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  • #58,313
  • Mar 14, 2008 10:13am Mar 14, 2008 10:13am
Quoting Gubster
we all waiting for 'benny boy' to tell us that the Fed will cut further and up and away GBP goes.
I reckon it's built in - what is really going to put the cat among the pigeons is when we get a 'northern rock' or two or three in the U.S.

Bear Stearns is just the tip of the iceberg that is floating towards us
  • #58,314
  • Mar 14, 2008 10:27am Mar 14, 2008 10:27am
Quoting allserene
I reckon it's built in - what is really going to put the cat among the pigeons is when we get a 'northern rock' or two or three in the U.S.

Bear Stearns is just the tip of the iceberg that is floating towards us
didnt we already get a northern rock in US
wasnt citigroup like northern rock issue???
or meryll lynch
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,315
  • Mar 14, 2008 10:40am Mar 14, 2008 10:40am
Quoting AmeriTrini
I'm not shorting till we hit 2.0400, my target. We have 2 pieces of important data for the $ in the next two days of trading, look out for pound bullishness.
2.0400 seems to be the magic number at the moment, the charts are setting up to take a little higher run it seems.
  • #58,316
  • Mar 14, 2008 10:42am Mar 14, 2008 10:42am
well wat do u know Bush is helping the dollar at the moment.
now bernanke will come and kill it
thats the plan
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,317
  • Mar 14, 2008 10:45am Mar 14, 2008 10:45am
there u go. totally unpredictable cable again!!
  • #58,318
  • Mar 14, 2008 10:46am Mar 14, 2008 10:46am
Bush Yelling>>>Dollar Pulling

Oh he thinks BOB is doing good so does d economy
  • #58,319
  • Mar 14, 2008 10:48am Mar 14, 2008 10:48am
Quoting Gubster
there u go. totally unpredictable cable again!!
if it does pass the 50% fib ..best to buy!!! there SP under 50% should be a great trade..
  • #58,320
  • Mar 14, 2008 10:49am Mar 14, 2008 10:49am
Quoting Gubster
there u go. totally unpredictable cable again!!
hmmmm why do you say unpredictable, you should have seen this coming with your charts, I did.
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