W'salam.... Floating loss on Cable still
- #10,167
- Edited 9:28am Apr 14, 2008 9:14am | Edited 9:28am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
from my point of view, which is a novice trader. GU is in an unbalanced state. It is currently trying to balance itself out. As a result it will not go down by much or will not go down at all untill it has balanced it self out.
Its my own theory but for the time being proves to be sufficient to keep me out of trouble.
my trade review. AU & NU short. EG Short. GU, GJ, GChf Long. EU is a short trade which I choose to stay out of. Its a high risk trade for EU at the moment.
Anyway this is my personal view and forget not that I am a newbie in the Forex world. Hopefully by end of this month I can survive for 2 years in here and hopefull for many more years to come.
As for me... Cable already made the Balancing when it made the Price Correction/Retracement to the 61.8% Fibbo... If you refer to the Weekly chart above. Cable failed to penetrate the 61.8% Fibbo level... at the same time failed to come back inside the YELLOW Bullish CHANNEL.As long as Cable playing inside the Green Bearish Channel... I am on the BEAR side still. Unless the Green Channel is broken... I'll review back my technical analysis.
As for Fundamental Analysis... I can see the RIPPLE EFFECT of what had happened and happening in the USA is attacking UK now. Base on the deteriorating housing data.
However, with the rising cost of fuel and commodity... causing other things to become expensive as well... i.e. raw materials, food and transportation. This is sign of INFLATION.... but Housing sector is dooming
Casing STAGFLATION. Market confuse.... and becoming irrational. The only question is... can I remains SOLVENT longer than the market remains Irrational?
This is my personal point of view.
- #10,170
- Apr 14, 2008 10:14am Apr 14, 2008 10:14am
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Urgh! More unexpected News. That's why... the market is reacting like this. All of these unexpected factors coming in with no warning. Last FRIDAY... GE (General Electric) reported a big loss.
Oh... just give me one unexpected bad news from UK.
Gonna be patience until tomorrow morning (Malaysia). It's a Housing data... very important to know about the RIPPLE EFFECT from US is haunting UK seriously or not.7:01am GBP http://www.forexfactory.com/images/m...mpact_high.gif RICS House Price Balance ??? -67.0% -64.1%
- #10,171
- Apr 14, 2008 10:39am Apr 14, 2008 10:39am
- | Joined Apr 2008 | Status: You never know | 1,306 Posts
Expected the unexpected
- #10,178
- Apr 14, 2008 6:20pm Apr 14, 2008 6:20pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
Good Morning Malaysia 
As I mentioned last night.... Cable can't go so high. It started pricing in for this:
7:01pm GBP http://www.forexfactory.com/images/m...mpact_high.gif RICS House Price Balance -78.5% -67.0% -64.1%
7:01pm GBP http://www.forexfactory.com/images/m...impact_low.gif BRC Retail Sales Monitor y/y -1.6% 1.1% 1.5%
Look at that!!! -78.5% ... WORSE than expected!!! Surprising BAD News from UK... like I requested 
Good for my SHORT.
As I mentioned last night.... Cable can't go so high. It started pricing in for this:
7:01pm GBP http://www.forexfactory.com/images/m...mpact_high.gif RICS House Price Balance -78.5% -67.0% -64.1%
7:01pm GBP http://www.forexfactory.com/images/m...impact_low.gif BRC Retail Sales Monitor y/y -1.6% 1.1% 1.5%
Look at that!!! -78.5% ... WORSE than expected!!! Surprising BAD News from UK... like I requested Good for my SHORT.- #10,180
- Apr 14, 2008 6:29pm Apr 14, 2008 6:29pm
- Joined Oct 2007 | Status: Trader | 6,522 Posts
too bad GU takes too much time to go down..yesterday it up 200 pips ++ already shivers me.
I didn't take Loss or placing SL (NOT ADVISABLE).... because I did extensive Technical and Fundamental analysis already. I PLAN my trade and trade the plan. Stick to it unless certain line is breached. Patience is Virtue ... from more than -300pips (standard lot)... now already on the GREEN side
Alhamdulillah 