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Cable Update (GBPUSD)

  • #59,901
  • Mar 30, 2008 12:20pm Mar 30, 2008 12:20pm
Quoting nAVIN2007
the house news for america is postive bro and this should increase the US currency....decrease strength of pound ...is what im thinking?

exactly bro
ur mind is right on the money but we can only say the housing problem is being resolved is if we get better results this month too.
one month is not enough bro

one more thing bro
to confirm dollar strength always check commodities and euro be4 making any decision on dollar condition.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,902
  • Mar 30, 2008 12:24pm Mar 30, 2008 12:24pm
Yep Euro is strong trading differently to GBP pretty much, BUT Euro's put in a nice top formation so likely due a sell off which should still drag the weaker GBP down for you.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,903
  • Mar 30, 2008 12:29pm Mar 30, 2008 12:29pm
Quoting Turveyd
Yep Euro is strong trading differently to GBP pretty much, BUT Euro's put in a nice top formation so likely due a sell off which should still drag the weaker GBP down for you.
i would love to see a euro selloff
but it looks like the last selloff was it for now.
i think euro has still a lot of room to go
1.6 will be a good pshycological resistance
but i agree if a euro selloff was to take place it will drag cable with it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,904
  • Mar 30, 2008 12:39pm Mar 30, 2008 12:39pm
Sell off is likely a tad strong, pull back to 1.5650 area, enough to get Nav outta harms way if so.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,905
  • Mar 30, 2008 12:41pm Mar 30, 2008 12:41pm
this £ better sink ....i have a open postion and my god do feel sick already about the fact that it might have bounced to go north...
  • #59,906
  • Mar 30, 2008 12:41pm Mar 30, 2008 12:41pm
Quoting Turveyd
Sell off is likely a tad strong, pull back to 1.5650 area, enough to get Nav outta harms way if so.
a pullback to 1.5650 is enough to send cable to 195 area if not less
but thats probably a long shot this weak
then again who knows

anything can happen.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,907
  • Mar 30, 2008 12:49pm Mar 30, 2008 12:49pm
Quoting Turveyd
Sell off is likely a tad strong, pull back to 1.5650 area, enough to get Nav outta harms way if so.
lets hope so buddy...but a bearish candle on the daily engulfing a doji if that isnt bearish what the hell is ...is what i shall be asking myself on opening...
  • #59,908
  • Mar 30, 2008 12:51pm Mar 30, 2008 12:51pm
interesting/useful link re other analysis of majors;

http://www.pfxglobal.com/gbp-usd/gbp-usd-dashboard.html

make of it what you will.
ex member
  • #59,909
  • Mar 30, 2008 1:36pm Mar 30, 2008 1:36pm
Quoting bbmac
interesting/useful link re other analysis of majors;

http://www.pfxglobal.com/gbp-usd/gbp-usd-dashboard.html

make of it what you will.
thx man it was good to see...even he doesnt know what happening but its incouraging for him to suggest a fall perhaps..i guess we just have to wait and see what happens....
  • #59,910
  • Mar 30, 2008 1:56pm Mar 30, 2008 1:56pm
Quoting nAVIN2007
this £ better sink ....i have a open postion and my god do feel sick already about the fact that it might have bounced to go north...
Two weeks ago, i remember you shouting that you will never leave an open position over the weekend being afraid of gaps.. remember? You are breaking your own rules man, a bad move.
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  • #59,911
  • Mar 30, 2008 2:12pm Mar 30, 2008 2:12pm
Quoting abuzant
Two weeks ago, i remember you shouting that you will never leave an open position over the weekend being afraid of gaps.. remember? You are breaking your own rules man, a bad move.
i know ..i have no excuse other than when i placed the trade i so though it was the right move....this is why i have decided to make a set of rules and follow them on every trade...otherwise no trade ..my trading pyschology is very weak ...
  • #59,912
  • Mar 30, 2008 3:14pm Mar 30, 2008 3:14pm
Markets GAP

GBP/USD 1.9965
GBP/JPY 197.90
Oil Spread 28 points
Gold 932.20
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  • #59,913
  • Mar 30, 2008 3:27pm Mar 30, 2008 3:27pm
so the price has gone above the yearly pivot ..damnit ...
  • #59,914
  • Mar 30, 2008 3:34pm Mar 30, 2008 3:34pm
Nav dont worry to much about the yearly pivot,a year is a long time for the kind of trading we are doing.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,915
  • Mar 30, 2008 3:37pm Mar 30, 2008 3:37pm
Quoting nAVIN2007
so the price has gone above the yearly pivot ..damnit ...
ٍSource is TenforeX by the way, just started to tick.
{Promotion Removed}
  • #59,916
  • Mar 30, 2008 3:40pm Mar 30, 2008 3:40pm
Quoting Bones
Nav dont worry to much about the yearly pivot,a year is a long time for the kind of trading we are doing.
good point ...
hopefully we will bounce of the trendline and go down..oh boye! was my entery stupid...if anything i should have bought there ...
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  • #59,917
  • Mar 30, 2008 3:57pm Mar 30, 2008 3:57pm
Your entry wasn't stupid, it was a calculated risk ( okay a stupid based mainly around your addiction to trade after a bad week ).

Worse case you lose £120, which is @4.3% of your account, which is a tad high but acceptable really.

There is no guaranteed wins, got to look at the bigger picture, you will lose trades, you will win trades, getting to a point your trading is at a standard where over all your profitable is what counts.


Your still in your learning phase, if you keep going you'll get there. ( might take 5years and cost you £10,000 to learn but if you crack it and become a millionaire it's worth it )


So don't let the little things bother you!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,918
  • Mar 30, 2008 4:06pm Mar 30, 2008 4:06pm
Nav put in your title / signature your trade details pls cause my memory sucks.

thanks.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,919
  • Mar 30, 2008 4:08pm Mar 30, 2008 4:08pm
Quoting Turveyd
Your entry wasn't stupid, it was a calculated risk ( okay a stupid based mainly around your addiction to trade after a bad week ).

Worse case you lose £120, which is @4.3% of your account, which is a tad high but acceptable really.

There is no guaranteed wins, got to look at the bigger picture, you will lose trades, you will win trades, getting to a point your trading is at a standard where over all your profitable is what counts.


Your still in your learning phase, if you keep going you'll get there. ( might take 5years and cost you £10,000 to learn but if you crack it and become a millionaire it's worth it )


So don't let the little things bother you!!
I hear u buddy ..thats why i doing this ..looking on the bright side i can only get better and it should hopefully fall...the charts certainly suggest it ..but for sure my entry sucked...
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  • #59,920
  • Mar 30, 2008 4:17pm Mar 30, 2008 4:17pm
Its going to be intresting....
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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