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Cable Update (GBPUSD)

  • #62,801
  • Apr 24, 2008 6:48pm Apr 24, 2008 6:48pm
On the 4 Hr chart we have the close of the green candle above what I think is a critical level, ( 1.9730 ). And its a nice bullish move on an otherwise bearish 4 hr chart. The bears are done fellas, I believe we go up from here unless the news sends it lower.

Jim
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  • #62,802
  • Apr 24, 2008 7:00pm Apr 24, 2008 7:00pm
More buying strength than last night, so might get a up swing!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,803
  • Apr 24, 2008 7:22pm Apr 24, 2008 7:22pm
..where are we goin from here?
  • #62,804
  • Apr 24, 2008 7:45pm Apr 24, 2008 7:45pm
And look which side of the triangle it broke out of.... Now I can go to bed
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  • #62,805
  • Apr 24, 2008 10:00pm Apr 24, 2008 10:00pm
might go on upto the WP 9848 during the euro open, but It may return to here and possibly lower tommorrow. Curious fundamentals. A much lower than expected GDP may be taken by traders as a reason for additional rate cuts.

All in all, my weekend starts now lol.. did well this Quarter by staying out of the market in times like this.
USD Est Non Mortuus
  • #62,806
  • Apr 24, 2008 10:15pm Apr 24, 2008 10:15pm
Don't know yet will up or down. But if current M30 candle closes above 1.9747. And the new M30 candle opens above the current closing level, sure I will long for at least 20 pips. Otherwise no open trade till strong signal shown !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #62,807
  • Apr 24, 2008 11:48pm Apr 24, 2008 11:48pm
Quoting salah k.
i know u didn't but i mean someone asked if there was a shovel?
i mean come on who gives a crap if it was real or not.

anyway bro i tried ur system on demo account i made like 32 pips.
its good but keeps u on the edge of ur seat.

im gonna test it some more to c if i have the nerve for it in the real deal.

thnx and all the best bro
Thanks for backing me up bro
When life gives you lemons, make lemonade
  • #62,808
  • Apr 25, 2008 12:33am Apr 25, 2008 12:33am
It's now Friday, which leaves one session for the current weekly candle to close a touch higher than it's already reached, thus doing what candles do when following in the footsteps of a bullish-engulfing - like the one that represents last week's price action.

It took two days for price to get from the trend line at the big figure 2.00, down to the lower trend line at 1.9687. The journey was certainly hindered by two days of news and whipsaws. Enough to freak out anyone watching tick by tick, being lost in the forest, instead of standing back and viewing from a distance.

So price respected the support trend line at yesterday's low. That trend line is doing ever such a good job as last month it also acted out a big resistance role (round of applause).

I see oversold stochs on the 4hr. I see a pair of tweezers there too (thanks to Hard1Head1). I see my 8am CET candle trying to close above a cute little ema. But most importantly, I see in the distance, a move north that will see price reach or breach the big figure of 2.00 before the week is out.

Hard1Head1's charts paint the picture well (good late night work!) and I'm sure BBMAC's will be similar.

So if I'm planning a trip for the weekend ...I'm hopping on the bus north fellas. Sure we'll see resistance from all sorts of fib levels and previous highs and lows. But these days, there's always a bit of traffic and a few diversions to hold us up somewhat. The point is, I believe that a bus is heading north and I hope to see a few others on it.

But as Jacko says, "I could be wrong!"

Rob
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  • #62,809
  • Edited 1:17am Apr 25, 2008 1:01am | Edited 1:17am
Quoting smjones
THIS GUY IS A SCAMMER. SCAM ALERT! REFER TO THE SEVERAL EXTRACTED POSTS IN THE RECYCLE BIN!
Yep, a scammer and a spammer.
Twee will remove him.

Update 10 mins later ...his post is already in the recycle bin!
  • #62,810
  • Apr 25, 2008 1:18am Apr 25, 2008 1:18am
Quoting smjones
THIS GUY IS A SCAMMER. SCAM ALERT! REFER TO THE SEVERAL EXTRACTED POSTS IN THE RECYCLE BIN!
Sometimes it happen that you can make 900~1000 pips in one month over few years but never reached 1200 heheheehhe
When life gives you lemons, make lemonade
  • #62,811
  • Apr 25, 2008 1:22am Apr 25, 2008 1:22am
Quoting priceaction
I've just read a book that Jacko recommended; "Lessons from the greatest stocktraders of all time" by Boik.

Loeb, Baruch, Darvas, Livermore, O'Neil were all included and the book goes;

"They all made mistakes early in their experiences, and lost money, proving that they were all human as well".
having a mentor that is a real trader is a much esyer way to trade. saves you making the same mistakes over and over. Jacko showing me how to trade was the best thing I ever did. and he let me see all his trading statemnents so I knew he was the real thing. waching him trade is really awesome. so cool. so unhasseled. and he trades in monster numbers. 200, 300 euro contracts at a time.
  • #62,812
  • Apr 25, 2008 1:42am Apr 25, 2008 1:42am
Contrary to expectations and speculations, I see GU riding south today. Will wait a lil before opening a position.
PIPS AND PIPS ONLY... + OF COURSE
  • #62,813
  • Apr 25, 2008 1:46am Apr 25, 2008 1:46am
Quoting kaka08
Contrary to expectations and speculations, I see GU riding south today. Will wait a lil before opening a position.
Why contrary? it gave you a clear view at 7:30 pm (GMT+2) when that candle
crossed the round price at 1.9746 and closed 7 pips below it on the 15min chart which indicated a small/big down trend
When life gives you lemons, make lemonade
  • #62,814
  • Apr 25, 2008 1:48am Apr 25, 2008 1:48am
Quoting priceaction
Yep, a scammer and a spammer.
Twee will remove him.

Update 10 mins later ...his post is already in the recycle bin!
I did a spam here from 16 days and I got infraction I didn't know there are such rules until I got banned hehe
When life gives you lemons, make lemonade
  • #62,815
  • Apr 25, 2008 2:51am Apr 25, 2008 2:51am
Quoting Carrera
Hi salah, did you get my email?
hey carrera
honestly i didnt check yet

i will check it now.

thnx for all ur help.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,816
  • Apr 25, 2008 3:24am Apr 25, 2008 3:24am
as u guys know already i know nothing about fumdamentals so this is a stretch...i think last week, this is all simplied ok ...


last week banks got extra funding, knee jerk reaction..pound went through the roof, EUR was at a all time high ...it needed to fall as its currency is way higher than any1 expected now its falling, the pound is reducing as it correlated.....and maybe meaning that we are in for one hell of a drop...

what yah guys think ?
  • #62,817
  • Apr 25, 2008 3:29am Apr 25, 2008 3:29am
Quoting nAVIN2007
as u guys know already i know nothing about fumdamentals so this is a stretch...i think last week, this is all simplied ok ...


last week banks got extra funding, knee jerk reaction..pound went through the roof, EUR was at a all time high ...it needed to fall as its currency is way higher than any1 expected now its falling, the pound is reducing as it correlated.....and maybe meaning that we are in for one hell of a drop...

what yah guys think ?
i think euro fell mainly because of profit taking and the bad german numbers(they were really bad)
but ur on the right track buddy

plus u have to remember crude oil was at all time highs and it was weakening the dollar a lot
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,818
  • Apr 25, 2008 3:30am Apr 25, 2008 3:30am
*(uk) Q1 Advanced Gdp Q/q: 0.4% V 0.4%e, Y/y: 2.5% V 2.6%e
  • #62,819
  • Apr 25, 2008 3:38am Apr 25, 2008 3:38am
Quoting salah k.
i think euro fell mainly because of profit taking and the bad german numbers(they were really bad)
but ur on the right track buddy

plus u have to remember crude oil was at all time highs and it was weakening the dollar a lot
thats good to know ...at least what im writing is making some sense, that can only be good
this could have been foreseen and we could have made a killing from it ..oh well this is how we learn ....
  • #62,820
  • Apr 25, 2008 3:42am Apr 25, 2008 3:42am
Quoting priceaction
*(uk) Q1 Advanced Gdp Q/q: 0.4% V 0.4%e, Y/y: 2.5% V 2.6%e
Those numbers are considered good? Why is the cable going up instead of down when everybody knows UK economy has been bad?
Expected the unexpected
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