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Cable Update (GBPUSD)

  • #64,761
  • May 8, 2008 7:25am May 8, 2008 7:25am
Done for today.........market is very undecided, hard to pick a direction.
  • #64,762
  • May 8, 2008 7:27am May 8, 2008 7:27am
Hey crew, I just got in and noticed everyone is carrying a long bias. and can't for the life of me figure that one out. Is someone seeing something I am not, please advise?

Jim
  • #64,763
  • May 8, 2008 7:30am May 8, 2008 7:30am
Quoting LuckyLurker
I'm staying in because of discipline. If it takes me out, there will be another opportunity just like this again where staying in will pay out 10 fold.
Thanks for your answer.
  • #64,764
  • May 8, 2008 7:32am May 8, 2008 7:32am
Quoting hard1head1
Hey crew, I just got in and noticed everyone is carrying a long bias. and can't for the life of me figure that one out. Is someone seeing something I am not, please advise?

Jim

every1 thinking bottom of channel and s3 level ...im confused also it could go either way ...i actually went short but the entery as usaul sucks ...lol
bias is down, they way i see it is if 4hr had a morning star then ...long to the top of channel but the movement up was the retracement bounced at 38% level, now we going to test s3 level again i think ..

i got out again its to dogdeball ...1 pips ...lol
  • #64,765
  • May 8, 2008 7:34am May 8, 2008 7:34am
I see it now, see what happens when your away.

Jim


Quoting nAVIN2007
every1 thinking bottom of channel and s3 level ...im confused also it could go either way ...i actually went short but the entery as usaul sucks ...lol
bias is down, they way i see it is if 4hr had a morning star then ...long to the top of channel but the movement up was the retracement bounced at 38% level, now we going to test s3 level again i think ..
  • #64,766
  • May 8, 2008 7:34am May 8, 2008 7:34am
break below 9540 and I think it will come down to test the resent low of ~9500 which is around the bottom of the channel
  • #64,767
  • May 8, 2008 7:37am May 8, 2008 7:37am
Got to remember the thing that holds a lot of weight. That Daily trendline has been broken AND tested.

Quoting hard1head1
I see it now, see what happens when your away.

Jim
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  • #64,768
  • May 8, 2008 7:40am May 8, 2008 7:40am
Quoting NowAndLater
break below 9540 and I think it will come down to test the resent low of ~9500 which is around the bottom of the channel
break below 1.9510 and momentum for 30-40 pips....


not thinking about it, just observing....i should really close my platform down.

Before I lose some of those pips
The quality of your life is brought about by the quality of your thinking.
  • #64,769
  • May 8, 2008 7:40am May 8, 2008 7:40am
It is also forming lower highs and lower lows on the lower lights.
  • #64,770
  • May 8, 2008 7:44am May 8, 2008 7:44am
Quoting hard1head1
It is also forming lower highs and lower lows on the lower lights.

i have no doubt it going down ..just dunno to which point ...1 hr chart stoch is slowly bring it down...i reckon testing 4r trend again and back up...otherwise i shall buy at 1.93 ...lol
  • #64,771
  • May 8, 2008 7:47am May 8, 2008 7:47am
Quoting hard1head1
It is also forming lower highs and lower lows on the lower lights.
As expected, the general trend is down. But I am holding a high long position.
Expected the unexpected
  • #64,772
  • May 8, 2008 7:48am May 8, 2008 7:48am
out at BE+5 .. Guess ill start over now lol.
USD Est Non Mortuus
  • #64,773
  • May 8, 2008 7:54am May 8, 2008 7:54am
yes I see what you mean jim.
My higher long got stopped for small profit and I just re entered long my lower long still in place.
4 hr trending up.




Quoting hard1head1
Hey Bones, flip it to the 15 Min T/F and look where it stopped.

Jim
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #64,774
  • May 8, 2008 7:55am May 8, 2008 7:55am
the market definately has no direction for once getting out with 1 pip profit seems a good idea...looks like we might try up now ..
  • #64,775
  • May 8, 2008 7:55am May 8, 2008 7:55am
Quoting fx local
one thing about trichet is that he a tough central banker, sticks to his inflation mandate, best bwanker around
forgive me but i strongly disagree
a tough banker would be one that takes into consideration every single aspect in his economy and the fact that europe(country after country) are witnessing housing challenges and credit crunches has slipped his mind kills me.

he doesnt even admit that the european companies are getting killed due to high euro. their sales to other continents are very bad and getting worse.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,776
  • May 8, 2008 7:58am May 8, 2008 7:58am
Quoting LuckyLurker
out at BE+5 .. Guess ill start over now lol.

i love the way u stuck to ur plan
great discipline
i hope one day i will have such discipline
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,777
  • May 8, 2008 8:02am May 8, 2008 8:02am
Quoting salah k.
i love the way u stuck to ur plan
great discipline
i hope one day i will have such discipline
Thanks Salah. lots and lots of pips to be made each day for sure.
USD Est Non Mortuus
  • #64,778
  • May 8, 2008 8:03am May 8, 2008 8:03am
Quoting salah k.
forgive me but i strongly disagree
a tough banker would be one that takes into consideration every single aspect in his economy and the fact that europe(country after country) are witnessing housing challenges and credit crunches has slipped his mind kills me.

he doesnt even admit that the european companies are getting killed due to high euro. their sales to other continents are very bad and getting worse.
tough central banker focuses on his/her key mandate, price stability ie inflation, ECB mandate does not include stimulating demand but ONLY control prices, like Trichet says he has only ONE needle in his compass, diff to FED in that respect.. high Euro has ups and downs but it is reflection of economic fundamentals and should be left to the market to decide... price stability is the fundamental aspect of good strong ongoing economic growth, ECb does not have a mandate to bail out banks and companies, thats why he is the best banker out there

credit crunch in ECB eyes is a required event in risk reduction as Trichet warned about before it all started
Trading is 80% Emotional, 20% Technical
  • #64,779
  • May 8, 2008 8:08am May 8, 2008 8:08am
bought more at 9545, tp 9700 hard stop 9515
  • #64,780
  • May 8, 2008 8:09am May 8, 2008 8:09am
Quoting Bones
yes I see what you mean jim.
My higher long got stopped for small profit and I just re entered long my lower long still in place.
4 hr trending up.
I agree 4H still trending up. Down movement was just part of the fundies (noise) last nights reasons for 1.98xx still in place we will see top of 4H channel, looks like tomorrow. Just went long again on breaking of daily pivot
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