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Cable Update (GBPUSD)

  • #63,521
  • Apr 30, 2008 12:56pm Apr 30, 2008 12:56pm
Quoting Bones
It could have been followed 100% tech though Salah,Its very difficult to add up all the pros and cons of anouncements.
bro i couldnt agree more

fundumentals trigger the move which is carried on by technicals(s/r fibo ...)
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,522
  • Apr 30, 2008 12:56pm Apr 30, 2008 12:56pm
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.
Beside all of this I still prefer to trade GU. It is not so costly and hazardous as GY and still gives massive profits from long smooth runs. It is just, that nobody said that after, lets say, 3 years, you know exactly what to do and that you prepared for everything. Market is changing all the time and I guess I will be learning as long as it does exist. My largest losses from last few months were the trades based on fundamentals ergo I was given today another lesson which says - it is not a time for a logical data trading, other forces are at large... and I will stick to that untill I see this trend reversed
  • #63,523
  • Apr 30, 2008 1:09pm Apr 30, 2008 1:09pm
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.
yes, you right.. I just figured out for myself that I am better in a 100% technical trading because this way I do not carry the weight of my assumptions and I close wrong trades without the blink of an eye. The problem I got is that when I put before myself a picture with how the market should react it gets much harder to forget the whole idea that I created in my head and that is when I lose money. I did not wantto sugest you all that you should quit fundamentals, just wanted to share my point of view, my struglges, mistakes and conclusions.
  • #63,524
  • Apr 30, 2008 1:12pm Apr 30, 2008 1:12pm
Quoting matahary
yes, you right.. I just figured out for myself that I am better in a 100% technical trading because this way I do not carry the weight of my assumptions and I close wrong trades without the blink of an eye. The problem I got is that when I put before myself a picture with how the market should react it gets much harder to forget the whole idea that I created in my head and that is when I lose money. I did not wantto sugest you all that you should quit fundamentals, just wanted to share my point of view, my struglges, mistakes and conclusions.
Man you are reading my mind
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,525
  • Apr 30, 2008 1:16pm Apr 30, 2008 1:16pm
FOMC CUTS RATE 25 BPS TO 2.00%
- Economic activity remains weak
- Vote was 8-2 for cut
  • #63,526
  • Apr 30, 2008 1:22pm Apr 30, 2008 1:22pm
Quoting priceaction
FOMC CUTS RATE 25 BPS TO 2.00%
- Economic activity remains weak
- Vote was 8-2 for cut
I think we all should away from trading because the software itself gets crazy because of the news: 2.00 cut and the pause for more cut. As far as the Stock exchange it gets up DJIA is already 160 points...
I think i am gonna out of my office to take lunch and away from the computer because I had a bad experience from the last fomc statement....
  • #63,527
  • Apr 30, 2008 1:23pm Apr 30, 2008 1:23pm
preparing to watch champion league..hehe..hope liverpool wins.

final, of course man utd will be the champs..peace.
  • #63,528
  • Apr 30, 2008 1:24pm Apr 30, 2008 1:24pm
Quoting asyed4
I think we all should away from trading because the software itself gets crazy because of the news: 2.00 cut and the pause for more cut. As far as the Stock exchange it gets up DJIA is already 160 points...
I think i am gonna out of my office to take lunch and away from the computer because I had a bad experience from the last fomc statement....
I should say DJIA is not that happy that they should be and now the points are getting down. I think it is because of FOMC statement rather than 0.25 cut...
  • #63,529
  • Apr 30, 2008 1:39pm Apr 30, 2008 1:39pm
Quoting matahary
yes, you right.. I just figured out for myself that I am better in a 100% technical trading because this way I do not carry the weight of my assumptions and I close wrong trades without the blink of an eye. The problem I got is that when I put before myself a picture with how the market should react it gets much harder to forget the whole idea that I created in my head and that is when I lose money. I did not wantto sugest you all that you should quit fundamentals, just wanted to share my point of view, my struglges, mistakes and conclusions.
first off thnx for sharing

u c i tried being a 100% technical but it didnt work because of everytime some a**hole sneezed something happened

so now i keep an eye on the news at all times while maintaining technical analysis and when they are both aligned i enter otherwise i stay out.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,530
  • Apr 30, 2008 1:43pm Apr 30, 2008 1:43pm
Quoting priceaction
Folks I went long a few hrs ago at 1.9681 with a 100 pip SL. Perhaps I shouldn't have entered then with all the news but I did have plenty of underlying buy signals and the wave back up seemed almost as natural as the turning tide.

Part of the picture I see is below and the rest is on 30 min, 1hr and 3 hr charts.

I had a siesta, got up 2 hrs later and see that price has finally taken off after meandering up and down like a drunk Brit on a stag-night in Prague. It has just broken through the 60ema on the 30 min chart which is more reassurance that this could be a good move.

Of course any unexpected Fed news is less than 5 hrs from now and can impact the market either way, but momentum has kicked in, the plane has taken off and we're finally heading north. It's been like taking a flight from Terminal 5 at Heathrow!

The flight might go all the way and it might crash and burn. I shall scale out sooner than usual and manage with caution.

Safe trading ...particularly with potential big news ahead and on the day which defines the look and feel of the April monthly candle.

Rob
The flight continues ...
Attached Image (click to enlarge)
Click to Enlarge Name: cable 30 april.jpg Size: 159 KB
  • #63,531
  • Apr 30, 2008 1:46pm Apr 30, 2008 1:46pm
oh well, looks like yet another small real body monthly close, 4 months of no real trend move looks set to continue......
Trading is 80% Emotional, 20% Technical
  • #63,532
  • Apr 30, 2008 1:48pm Apr 30, 2008 1:48pm
Its crazy isn’t it ,price has set up camp at this level??
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,533
  • Apr 30, 2008 1:49pm Apr 30, 2008 1:49pm
Quoting priceaction
The flight continues ...
Yeah looks like it.
  • #63,534
  • Apr 30, 2008 1:49pm Apr 30, 2008 1:49pm
woooooooooow it hit my target

http://www.forexfactory.com/showpost...ostcount=11836
  • #63,535
  • Apr 30, 2008 1:51pm Apr 30, 2008 1:51pm
Quoting fx local
oh well, looks like yet another small real body monthly close, 4 months of no real trend move looks set to continue......
frustrating isnt it
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,536
  • Apr 30, 2008 1:59pm Apr 30, 2008 1:59pm
well I'm up another 42 pips..and counting while typing LOL

Now based on what I posted this morning..my Technicals say a strong retracement should be taking place shortly....

Here is the chart

http://www.forexfactory.com/showpost...ostcount=63504 will fundies rule who to tell...
  • #63,537
  • Apr 30, 2008 2:02pm Apr 30, 2008 2:02pm
Quoting tomaz55
'now just waiting for a clear descent before short'??

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?
doubled up on my short from 9845 at 9891, price just has to retrace 23 pips for me to recoup my losses.. tp 9825
  • #63,538
  • Apr 30, 2008 2:07pm Apr 30, 2008 2:07pm
hey guys i know this is out of context but does anyone see oil under 100$ again????

this sucker just keeps flying
i mean wat are we gonna pay 20$ for gas now
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,539
  • Apr 30, 2008 2:15pm Apr 30, 2008 2:15pm
I doubt gas will come back down.....

Right right now I pay $1US/ltr for 90 octane.

I'd be happy right now to pay $20 to full my tank....
  • #63,540
  • Apr 30, 2008 2:17pm Apr 30, 2008 2:17pm
i shorted to damn early as usaul was distracted, bad day at work ..
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