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Cable Update (GBPUSD)

  • #61,801
  • Apr 16, 2008 12:28pm Apr 16, 2008 12:28pm
Quoting ManBukitKuda
Hi MagicTrader,

Currently, what is your personnel bias on the direction of the G/U at the moment......if you dont mind me asking.??? (of course after due consideration of your chart and such)
Thanks
I am afraid it might go up based on the FXCM analysis: Thanks Allah that I don't have any position at this moment because this is a very picky time to get involve with any trade plus in London Sessions, there wouldn't be any news for the rest of the week.
==================
Pivot: 1.973

Our preference: Long positions above 1.973 with targets @ 1.9826 & 1.988 in extension.

Alternative scenario: Below 1.973 look for further downside with 1.9685 & 1.965 as targets.

Comment: the upside breakout of the 1.973 congestion area calls for a further rise.
====================

http://www.tradingcentral.com/chart/...0416170207.GIF
  • #61,802
  • Apr 16, 2008 12:37pm Apr 16, 2008 12:37pm
Now it's trying to brake pivot and Fib.
But Beige Book could get a clue where it'll go next.
I think it could work like Mr. Bernanke speech.
So stock market down, EU, GU up. But it's only my personal view.
  • #61,803
  • Apr 16, 2008 1:32pm Apr 16, 2008 1:32pm
why the stock market is so optymistic today??
  • #61,804
  • Apr 16, 2008 1:50pm Apr 16, 2008 1:50pm
Quoting magictrader
why the stock market is so optymistic today??
We are a country whose citizens have an unending capacity for flights of fantasy..

for further reference in that vein, you only need to refer to the installation of the assclown Bush as president for 2 terms.
"I know how hard it is for you to put food on your family." George W. Bush
  • #61,805
  • Apr 16, 2008 2:04pm Apr 16, 2008 2:04pm
Quoting MarcoW
We are a country whose citizens have an unending capacity for flights of fantasy..

for further reference in that vein, you only need to refer to the installation of the assclown Bush as president for 2 terms.
I second that, you would have to be an absolute retard to vote in a guy as stupid as him... no offence intended but it doesnt say a very lot for the american public!!

Inserted Video
Trading is 80% Emotional, 20% Technical
  • #61,806
  • Apr 16, 2008 2:39pm Apr 16, 2008 2:39pm
long 9700 tp 9835
  • #61,807
  • Apr 16, 2008 2:58pm Apr 16, 2008 2:58pm
Quoting fx local
I second that, you would have to be an absolute retard to vote in a guy as stupid as him... no offence intended but it doesnt say a very lot for the american public!!

http://www.youtube.com/watch?v=BqLvBUSJucg
It's a fractured electorate - the bald men vote for bald men
the black people vote for black people
religious nuts (80%) vote religious nut party
guns for grannies vote for gun toting grannies
etc etc
The largest group of allied special interests win

Right now its about god and Bush is god's candidate - so it was easy

God wins over reason every time so McCain will win

I was there in 1955 when England was like that and I would have killed myself if it had not changed. Now I am in the US and I feel sorry for educated people as they have not been liberated yet and they have check books etc (you can't just transfer money to other bank accounts free and simple with a click like in the rest of the world) - stuff from the 50's and 60's. Toilet brushes are hard to find and are labelled 'european toilet brushes'. Truck drivers have no limiting hours - my furniture is off on a 3200 mile trip and will be there in 5 days with the same driver. The US is INCREDIBLY old fashioned that's all.

Executions/torture/no speed cameras/no motorbike helmets/no global warming/no this/no that - the whole country is a museum piece. I have been studying it 4 years now and the more I find out, the more old fashioned it is.

Without outside influences (and there are NONE), I don't know what will make it change

I can live in the US - I am here for blue skies and open spaces and the cheap dollar and the whole beaten down, exploited and enchained society (who believe they are the freest society in the world) are something like background music to me - that's the only way it makes sense to live here and it does for me

I wish I could help them but it's too big a challenge
  • #61,808
  • Apr 16, 2008 3:07pm Apr 16, 2008 3:07pm
Quoting allserene
Alot Text
Agreed.
  • #61,809
  • Apr 16, 2008 3:18pm Apr 16, 2008 3:18pm
Well, it's really looking like something out of Alice in Wonderland here.. most of the educated people have seen through this buffoonery for quite awhile now, but are not able to effect change.

When the party in power.. ie.. the republicans..call themselves the party of national security and they are the ones who were in control of both houses of congress, the presidency and mayor's office of New York City when 9/11 occurred, that just about says it all.

One fiasco after another.. yet nothing substantive changes with respect to who holds the power.

Perhaps the republicans can get God to run with McCain as his vp since they believe that God is, in fact, a republican.
"I know how hard it is for you to put food on your family." George W. Bush
  • #61,810
  • Apr 16, 2008 3:57pm Apr 16, 2008 3:57pm
Quoting fx local
I second that, you would have to be an absolute retard to vote in a guy as stupid as him... no offence intended but it doesnt say a very lot for the american public!!

http://www.youtube.com/watch?v=BqLvBUSJucg
thats the funniest bush clip ever especially the part where he says:" Is our children learning" " or we should take the high horse and the low road"

makes u think if he passed 2nd grade.
I mean english is our second language and my 5 year old nephew speaks better english.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,811
  • Apr 16, 2008 4:00pm Apr 16, 2008 4:00pm
Quoting allserene
It's a fractured electorate - the bald men vote for bald men
the black people vote for black people
religious nuts (80%) vote religious nut party
guns for grannies vote for gun toting grannies
etc etc
The largest group of allied special interests win

Right now its about god and Bush is god's candidate - so it was easy

God wins over reason every time so McCain will win

I was there in 1955 when England was like that and I would have killed myself if it had not changed. Now I am in the US and I feel sorry for educated people as they have not been liberated yet and they have check books etc (you can't just transfer money to other bank accounts free and simple with a click like in the rest of the world) - stuff from the 50's and 60's. Toilet brushes are hard to find and are labelled 'european toilet brushes'. Truck drivers have no limiting hours - my furniture is off on a 3200 mile trip and will be there in 5 days with the same driver. The US is INCREDIBLY old fashioned that's all.

Executions/torture/no speed cameras/no motorbike helmets/no global warming/no this/no that - the whole country is a museum piece. I have been studying it 4 years now and the more I find out, the more old fashioned it is.

Without outside influences (and there are NONE), I don't know what will make it change

I can live in the US - I am here for blue skies and open spaces and the cheap dollar and the whole beaten down, exploited and enchained society (who believe they are the freest society in the world) are something like background music to me - that's the only way it makes sense to live here and it does for me

I wish I could help them but it's too big a challenge
i didn't vote black, i voted gore and kerry, but i will this time obama.
If I Go Broke Trying Then I Will die happy.
  • #61,812
  • Apr 16, 2008 4:20pm Apr 16, 2008 4:20pm
thats why i live in the bahamas part time, soon to be full time, oh it's so nice.
If I Go Broke Trying Then I Will die happy.
  • #61,813
  • Apr 16, 2008 4:38pm Apr 16, 2008 4:38pm
thats lovely moe,...but i think hilary will outperform with her superdelegates,...she got them more...:
its just money
  • #61,814
  • Apr 16, 2008 5:02pm Apr 16, 2008 5:02pm
My bumper sticker has a pic of G W and says:

'TAILGATERISTS SHOULD BE PUNISHIZED'

I have had it 3 months and I haven't been attacked or my car vandalised so that's an example of tolerance (or they don't get it)

I reckon Obama will struggle to get over his ' people turning to Guns and Religion' remark which is a shame. It's a nasty weakness in any politician when you let the truth slip out - Tony Blair never did that.

Back to currency - Alan Greenspan said a couple of years ago that he would be worried about the economy if oil ever got to 55 dollars - its 114 this week

This is a very big deal and I don't think this dip is a quicky and back to normal by Q3

I have gained enough experience to know that how cable reacts to a big recession in the US is absolutely unknown and probably the opposite of what we might guess (reserve currency etc etc etc )

There are too many variables and the weighting of the variables changes all the time and sometimes inverts - I would like to play this market long term but it just ain't safe -this ultra short trading is all we can do
  • #61,815
  • Apr 16, 2008 5:42pm Apr 16, 2008 5:42pm
The problem is there too busy worry about what god will think to change and too busy protecting the american dream and to some extent freedom but in other ways the opposite.

Hard to believe the richest country in the world has 90%+ of it's population believe in some as old fashioned as god, out of all the american traders I've spoken to online over the years some being very intelligent and still believing in it, 2 - 3 didn't believe, just scarey.

The only people that truely believe here are the nutters that stand out side the town halls preaching and getting the piss taken outta them thankfully, as they deserve!!

Oil is going to keep going up in value until it's classed as a precious material.

This depression the world is going into unless some new technology is found to replace oil effectively and cheapily ( no chance ), could be the last depression of the world as we all know it.

People in poor country's are already starting to starve because they can't afford to buy food anymore, we aren't far behind in the UK, just our houses will go first so we've got a few years.


Scarey world we live in
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,816
  • Apr 16, 2008 5:43pm Apr 16, 2008 5:43pm
Where are we heading now? Will we break below 1.9700 or will we get up to trendline at 1.9830 from here? I think up.
  • #61,817
  • Apr 16, 2008 7:06pm Apr 16, 2008 7:06pm
Quoting tomaz55
long 9700 tp 9835
Hi Tomazz55
Any justification or reasoning why Long and not Short.....if you dont mind sharing your thought. Thanks
  • #61,818
  • Apr 16, 2008 7:29pm Apr 16, 2008 7:29pm
Quoting asyed4
I am afraid it might go up based on the FXCM analysis: Thanks Allah that I don't have any position at this moment because this is a very picky time to get involve with any trade plus in London Sessions, there wouldn't be any news for the rest of the week.
==================
Pivot: 1.973

Our preference: Long positions above 1.973 with targets @ 1.9826 & 1.988 in extension.

Alternative scenario: Below 1.973 look for further downside with 1.9685 & 1.965 as targets.

Comment: the upside breakout of the 1.973 congestion area calls for a further rise.
====================

http://www.tradingcentral.com/chart/...0416170207.GIF
Thanks for elaborate explanation......very much appreciated.
  • #61,819
  • Apr 16, 2008 7:54pm Apr 16, 2008 7:54pm
GU is very flat tonight compared to the EU and other pairs

Typically I shorted it then watch EU tank, had 1 down spike got my hopes up and nothing.

Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,820
  • Apr 16, 2008 11:20pm Apr 16, 2008 11:20pm
G/U is still hanging out in the middle of that huge 4 hr fallen wedge....Nowhere land! Im out right now as it is too risky. Want a nice pair to trade right now, check out EUR/CHF. It has just formed a nice triple top on the 4 hr.
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