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Cable Update (GBPUSD)

  • #63,501
  • Apr 30, 2008 11:23am Apr 30, 2008 11:23am
it really looks like to short.. but forex never that easy..bumpy rides ahead.
  • #63,502
  • Apr 30, 2008 11:23am Apr 30, 2008 11:23am
Quoting tomaz55
pyramus dont wait too long, by the time you decide to pull the trigger this will probably have fallen 40/50 pips, and then you will be reluctant to sell..

price has shot up 230 pips before an important announcement, doesnt this ring a bell?

After experiencing so many up's and downs in my beginners trade I prefer to wait at least 40 to 50 pips from current position and so I placed a limit order instead.
  • #63,503
  • Apr 30, 2008 11:37am Apr 30, 2008 11:37am
SL on BE. good luck !
  • #63,504
  • Apr 30, 2008 11:41am Apr 30, 2008 11:41am
I think the shorts trying to do a thing........ We'll see.
  • #63,505
  • Apr 30, 2008 11:44am Apr 30, 2008 11:44am
there is possibility the shorts are bear trap. set SL at BE to avoid losses. let see what happens.
  • #63,506
  • Apr 30, 2008 11:50am Apr 30, 2008 11:50am
I am waiting for a test of support level to shoot long again ...price should continue of new support fibbs hold...we had a reversal from my intraday fibbs from yesterday.
  • #63,507
  • Apr 30, 2008 11:52am Apr 30, 2008 11:52am
Quoting arinforex
there is possibility the shorts are bear trap. set SL at BE to avoid losses. let see what happens.
I'm thinking the same thing currently it's bouncing off a resistance line at 1.9816 if it breaks this I would be more confident of the short.
  • #63,508
  • Apr 30, 2008 11:53am Apr 30, 2008 11:53am
my target it will rest at pivot. 1.9751
  • #63,509
  • Apr 30, 2008 11:56am Apr 30, 2008 11:56am
Quoting Pyramus
I'm thinking the same thing currently it's bouncing off a resistance line at 1.9816 if it breaks this I would be more confident of the short.
1.9816 ? where do u get the resistnce line ? ur trendlines?
  • #63,510
  • Apr 30, 2008 11:58am Apr 30, 2008 11:58am
Quoting arinforex
1.9816 ? where do u get the resistnce line ? ur trendlines?
My trendline i think so which I plot earlier the 50% fib of 1.96 to 2.0025 also encountered the same resistance earlier during ascend.
  • #63,511
  • Apr 30, 2008 11:59am Apr 30, 2008 11:59am
Not sure of a short yet as price is testing top of 4hr TL and 15 min rising TL
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,512
  • Apr 30, 2008 12:11pm Apr 30, 2008 12:11pm
Guys.. I got completly frustrated after rejected data. Went out and now I have - 160 pips. Made a strong decision to quit listening to what the data have to offer and I switch to 100% technical. Would have done great if I did not consume all that noise and imagine things how them should be. It looks like it is never like it should anymore. The only explanation for current move up that I found was squering before fomc... bla bla bla.. a lot of rubbish what they say. There was a lot to square in euro but it stayed where it was. I recognize that there was divergence here and there but in a situation where there is a bad G data and great U data enough would be for price to move up to 34 ema. I guess data means nothing at all anymore in a short term. Simillar situation happened month ago. The same pattern with the exception that price was moving up untill last 15 minutes before data release. After all it went down all the way and that is what i am waiting for If not.. well.. i will turn bloomberg off and will do nice and quiet technical trading after I come back from my holidays. I am 100% sure I will make more pips and be less stressed simply by swithing off this market noise. I bend my knees befor all of you bulls. Very courageous.
  • #63,513
  • Apr 30, 2008 12:20pm Apr 30, 2008 12:20pm
Nice post I couldn’t agree more on the noise from news im thinking the same thing about going 100% tech.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,514
  • Apr 30, 2008 12:22pm Apr 30, 2008 12:22pm
Quoting matahary
Guys.. I got completly frustrated after rejected data. Went out and now I have - 160 pips. Made a strong decision to quit listening to what the data have to offer and I switch to 100% technical. Would have done great if I did not consume all that noise and imagine things how them should be. It looks like it is never like it should anymore. The only explanation for current move up that I found was squering before fomc... bla bla bla.. a lot of rubbish what they say. There was a lot to square in euro but it stayed where it was. I recognize that there was divergence here and there but in a situation where there is a bad G data and great U data enough would be for price to move up to 34 ema. I guess data means nothing at all anymore in a short term. Simillar situation happened month ago. The same pattern with the exception that price was moving up untill last 15 minutes before data release. After all it went down all the way and that is what i am waiting for If not.. well.. i will turn bloomberg off and will do nice and quiet technical trading after I come back from my holidays. I am 100% sure I will make more pips and be less stressed simply by swithing off this market noise. I bend my knees befor all of you bulls. Very courageous.
Same here this is what i notice with GU pair it doesn't purely rely on data just like what happen to me last friday news data shows for it to go short but instead it went long and followed technical data. Very diff't from EU which is more influenced by news just my opinion. i'm just a beginner.
  • #63,515
  • Apr 30, 2008 12:26pm Apr 30, 2008 12:26pm
Sorry. I got mixed up. I meant 14th of April where G went up 200 pips with no real reason and just before the data it started to fall down and it stoped 250 pips lower.
  • #63,516
  • Apr 30, 2008 12:39pm Apr 30, 2008 12:39pm
I mean when I think about it all my fundamental views do is cost me money ,lol
And if you want to move on top other pairs its easier.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,517
  • Apr 30, 2008 12:47pm Apr 30, 2008 12:47pm
Quoting matahary
Guys.. I got completly frustrated after rejected data. Went out and now I have - 160 pips. Made a strong decision to quit listening to what the data have to offer and I switch to 100% technical. Would have done great if I did not consume all that noise and imagine things how them should be. It looks like it is never like it should anymore. The only explanation for current move up that I found was squering before fomc... bla bla bla.. a lot of rubbish what they say. There was a lot to square in euro but it stayed where it was. I recognize that there was divergence here and there but in a situation where there is a bad G data and great U data enough would be for price to move up to 34 ema. I guess data means nothing at all anymore in a short term. Simillar situation happened month ago. The same pattern with the exception that price was moving up untill last 15 minutes before data release. After all it went down all the way and that is what i am waiting for If not.. well.. i will turn bloomberg off and will do nice and quiet technical trading after I come back from my holidays. I am 100% sure I will make more pips and be less stressed simply by swithing off this market noise. I bend my knees befor all of you bulls. Very courageous.
bro the bulls u are bowing infront of got it completely wrong when it fell from 9900 area where they were aiming at 2.01 and then 2.04

and the 300+ drop was solely because of fundamentals.
be4 any conclusions look back at the drop from 2.11
do u think that drop from 2.11 to 193 was technical
think again it was because of the panic of weak UK fundamentals.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,518
  • Apr 30, 2008 12:49pm Apr 30, 2008 12:49pm
hey guys anybody knows were we can listen to FOMC statement live
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,519
  • Apr 30, 2008 12:54pm Apr 30, 2008 12:54pm
It could have been followed 100% tech though Salah,Its very difficult to add up all the pros and cons of anouncements.


Quoting salah k.
bro the bulls u are bowing infront of got it completely wrong when it fell from 9900 area where they were aiming at 2.01 and then 2.04

and the 300+ drop was solely because of fundamentals.
be4 any conclusions look back at the drop from 2.11
do u think that drop from 2.11 to 193 was technical
think again it was because of the panic of weak UK fundamentals.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,520
  • Apr 30, 2008 12:54pm Apr 30, 2008 12:54pm
Quoting Bones
I mean when I think about it all my fundamental views do is cost me money ,lol
And if you want to move on top other pairs its easier.
at this moment, tech n funda pointing down
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