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Cable Update (GBPUSD)

  • #61,521
  • Apr 14, 2008 10:02am Apr 14, 2008 10:02am
I didnt get my short on until 1.9845 as I was having an argument with my wife about whether her driving would improve if she took my comments to heart and learned from them

I will probably get out as it approaches 1.98
  • #61,522
  • Apr 14, 2008 10:03am Apr 14, 2008 10:03am
Quoting priceaction
No sympathy given to anyone Ghous. I agree that reliance on other peoples' numbers isn't wise.

But the principle of publishing old numbers is just 'not on mate'.

On a more important subject ...GU has run low on steam for now (as has the Euro), but in my opinion GU will need to be rejected again by the trendline shown below, before it's safe(ish) to go short.

Having spoken with others (who know better than me), my plan is to see where the daily candle closes before taking any action.

Rob

Bloomberg: http://www.bloomberg.com/apps/news?pid=20601103&sid=aNheKPbsND8Y&refer=us

i respect your insignt 100% actually this morning i was'nt expecting Gu to make this big a move on the daily, although i was agreeing on it to reach around 1.99 i was not positive on it doing it anywhere today, and i was anticipating a short somewhere near the end of tuesday's daily candle but this upthrust certainly changed my mind, it seems the bulls just want to get over with the liability of taking price to meet the resistance trendline before it drops... kindly look at the last chart i posted to understand what i am saying... so this is what made me take the short, it's just that i took it a bit early maybe and you a little later (you will, i am sure)

anyways gunman...

Quote
Nice I am got in a bit ago at 1.9847. Great minds think alike you are on point about gbp uptrend being over at least by my charts.
thanks for the complement...enjoy your flight!
I believe . . .
  • #61,523
  • Apr 14, 2008 10:04am Apr 14, 2008 10:04am
Quoting allserene
I didnt get my short on until 1.9845 as I was having an argument with my wife about whether her driving would improve if she took my comments to heart and learned from them

I will probably get out as it approaches 1.98
It's good to see that you treat the Mrs and FF members the same
  • #61,524
  • Apr 14, 2008 10:06am Apr 14, 2008 10:06am
Quoting manize
Congratz ! Currently what your suggestion !
Closed all trades from last week for pos +73 pips....
My theory is to wait for it come slightly lower again and put in a buy order. I only trade with the fundamental trend so that means I wait for the opportunity to go long again....
  • #61,525
  • Apr 14, 2008 10:10am Apr 14, 2008 10:10am
Regardless whether g/u comes back down to 9600 level or not, it looked overbought on the 1h chart and nice correction is due to atleast 9810. If today, Dow's corrective bounce actually materialise then priceaction's chart earlier shows a nice rejection at the channel line. Besides don't forget poor UK housing data expected later.
  • #61,526
  • Apr 14, 2008 10:31am Apr 14, 2008 10:31am
Quoting priceaction
It's good to see that you treat the Mrs and FF members the same
That's what equality is all about - do unto others as they would do unto you - but do it first.

I can be wrong - I came out at b/e this time

FF members are not a homogenous block and some appreciate a little levity
now and then - and some don't....
  • #61,527
  • Apr 14, 2008 10:43am Apr 14, 2008 10:43am
Quoting mike w
Talk about a giggity giggity gap! On the weekly charts, my 5 sma is resting at 1.98 so I would expect a move back to there before heading lower still. 1.95 is the first target. I really expect this gap to be filled fairly quickly this week and once we reach the 1.98 area or even close again, I plan on adding a much larger short position to the mix.
Yep, that happened fast. My orders at 1.9850 got filled and now I'm on for the ride short again. Have a great day everybody.
I dream, therefore I become.
  • #61,528
  • Apr 14, 2008 10:57am Apr 14, 2008 10:57am
Quoting mike w
Yep, that happened fast. My orders at 1.9850 got filled and now I'm on for the ride short again. Have a great day everybody.
Great mike

I decided to wait until the news this morning and got a nice short @ 1.9866

Good luck!!
Patience + Discipline - Greed = Success
  • #61,529
  • Apr 14, 2008 11:00am Apr 14, 2008 11:00am
Quoting priceaction
He seems to have disappeared from the thread in recent days.
His last post was here when he posted numbers that were old
http://www.forexfactory.com/showpost...ostcount=61019

A rather 'off' thing to do when he was very aware that some people I know were actually using his numbers.
and how about doc version that u make ?
i'll want to learn it
  • #61,530
  • Apr 14, 2008 11:02am Apr 14, 2008 11:02am
Quoting allserene
He has gone to write a book about his system - and to sell it to you for $1,000

Now that is a certain winner

Put a short on now - and if you make money - send me 10 %

c/o the right reverend Creflo Fuledjeragin, stone mountain, georgia !
  • #61,531
  • Apr 14, 2008 11:04am Apr 14, 2008 11:04am
Quoting Infinity
Great mike

I decided to wait until the news this morning and got a nice short @ 1.9866

Good luck!!
Excellent entry man! I would have gotten in at a higher spot or at least tried to but I was asleep at the time about 5 hours ago. lol That really is prime for you man! It's all about those entries!
I dream, therefore I become.
  • #61,532
  • Apr 14, 2008 11:08am Apr 14, 2008 11:08am
Quoting DJ4x
Closed all trades from last week for pos +73 pips....
My theory is to wait for it come slightly lower again and put in a buy order. I only trade with the fundamental trend so that means I wait for the opportunity to go long again....
Why are you saying that fundamentals are long when everyone else are saying they are short?
  • #61,533
  • Apr 14, 2008 11:13am Apr 14, 2008 11:13am
Quoting T 1 Ti
and how about doc version that u make ?
i'll want to learn it
Yes I tried hard to understand the original PDF that was published (as have others), in order to make sense of how the numbers were derived. I would then have completed the half-written Word doc I have here in a clear and concise manner. However I never understood enough to do that. Sorry mate.
  • #61,534
  • Apr 14, 2008 11:28am Apr 14, 2008 11:28am
I close my short from 1.9852 - 1.9810, and no more trade till the new candle H4 open/close beyond the unknown area.
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,535
  • Apr 14, 2008 11:49am Apr 14, 2008 11:49am
i just closed my short for a £5 ....i sell order was missed by 4 pips ...i shall wait for a better entery .

slow and steady wins the race ..end of week i think see 193 level other we just gonna dance around ...up, down sideways
  • #61,536
  • Apr 14, 2008 11:51am Apr 14, 2008 11:51am
Quoting SimonJ
Why are you saying that fundamentals are long when everyone else are saying they are short?
The fundamental trend means trading in the direction of the strongest currency. Currently that means going long with GBP/USD even if we are in a technical downtrend which we are experiencing at the moment.
  • #61,537
  • Apr 14, 2008 12:07pm Apr 14, 2008 12:07pm
Quoting nAVIN2007
i just closed my short for a £5 ....i sell order was missed by 4 pips ...i shall wait for a better entery .

slow and steady wins the race ..end of week i think see 193 level other we just gonna dance around ...up, down sideways
Nav, if you think by the end of the week we will see 1.9300 and we are at 1.9800 now, isnt this a good entry?

  • #61,538
  • Apr 14, 2008 12:14pm Apr 14, 2008 12:14pm
Quoting AmeriTrini
Nav, if you think by the end of the week we will see 1.9300 and we are at 1.9800 now, isnt this a good entry?


definately right u are but i got a bit nervous about the entery and im sure it will go up again and when it does i gonna sell and hold it all the way ..i made a mistake i shouldnt have canceled the trade...emotion still go a hold on me ..but im sure we will have a another chance ..

this is my big problem i keep exiting good trades ..
  • #61,539
  • Apr 14, 2008 12:21pm Apr 14, 2008 12:21pm
Quoting DJ4x
The fundamental trend means trading in the direction of the strongest currency. Currently that means going long with GBP/USD even if we are in a technical downtrend which we are experiencing at the moment.
Yes and economy is shittier in the UK than the US what I've heard. Therefore The fundamental trend for GBP/USD is down.
  • #61,540
  • Apr 14, 2008 12:54pm Apr 14, 2008 12:54pm
Quoting SimonJ
Yes and economy is shittier in the UK than the US what I've heard. Therefore The fundamental trend for GBP/USD is down.
I don't disagree that economy in UK is rocky, US is just a bit worse at the moment. Read this....
http://www.pfxglobal.com/gbp-usd/gbp-usd-dashboard.html
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