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Cable Update (GBPUSD)

  • #65,621
  • May 13, 2008 8:19am May 13, 2008 8:19am
we have 2 morning stars already and it might be trying to form another ...
go up already ..
  • #65,622
  • May 13, 2008 8:20am May 13, 2008 8:20am
I only trade long in the direction of fundamental, but this has been my worst week ever since started trading live. U never know though, this is all completely random
  • #65,623
  • May 13, 2008 8:23am May 13, 2008 8:23am
Quoting DJ4x
All those holding long positions (including me) slightly stressed. Fundamentals are bullish, technicals are bearish.

That explains why I was wondering if my charts where updating!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,624
  • May 13, 2008 8:24am May 13, 2008 8:24am
Quoting AmeriTrini
It might be ranging

Yeah, can't it do that further up though
  • #65,625
  • May 13, 2008 8:24am May 13, 2008 8:24am
If its ranging, it has no choice but to go up. If its trending, it has no choice but to go up, because there is ALOT of resistance going down and the fundamentals just does not support that kind of momentum downward.
  • #65,626
  • May 13, 2008 8:25am May 13, 2008 8:25am
Is this Deja Vu of last week ? Why are so many people long ?

The quality of your life is brought about by the quality of your thinking.
  • #65,627
  • May 13, 2008 8:26am May 13, 2008 8:26am
Quoting DJ4x
Yeah, can't it do that further up though
I WISH!!!
  • #65,628
  • May 13, 2008 8:29am May 13, 2008 8:29am
its all discretion ..

if it goes up every1 will say morning star, if it goes down, why did u buy against the trend..im really starting to think its impossible to know as we not even getting retracement laws applying with this pair..
  • #65,629
  • May 13, 2008 8:30am May 13, 2008 8:30am
Quoting hornet
Is this Deja Vu of last week ? Why are so many people long ?


Because they are trying to pick the bottom would be my guess.
  • #65,630
  • May 13, 2008 8:32am May 13, 2008 8:32am
Quoting Ron3226
Because they are trying to pick the bottom would be my guess.
could be but, if that's the case, why go long at

1.9620
1.9575
1.9550
1.9500

those are not bottoms !
The quality of your life is brought about by the quality of your thinking.
  • #65,631
  • May 13, 2008 8:32am May 13, 2008 8:32am
looks like the bearish channels are putting a lot of pressure on that 1.9450 support - we may see a break

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  • #65,632
  • May 13, 2008 8:33am May 13, 2008 8:33am
We are stuck between the 89 and the recent lows. Patience, something has got to give. I am lost without my charts. Got to redu them this weekend.
  • #65,633
  • May 13, 2008 8:34am May 13, 2008 8:34am
You may have the answer, Rallik

Quoting rallik
looks like the bearish channels are putting a lot of pressure on that 1.9450 support - we may see a break

Attachment
  • #65,634
  • May 13, 2008 8:35am May 13, 2008 8:35am
Quoting DeePipster
Like I posted a couple hours ago, maybe now that inflation is coming out so high a concern for stagflation is surfacing. That might be why it shot up and then plummeted down.

Regardless, there is a trend-line around 1.945 that I think will cause this to bounce off of if it gets that low. Couple this with the oversold status- I think it is bound to go up soon.
I think maybe some of us have disregarded this post made earlier today, not quite sure why, because i think its was quite important and didn't spot it until now when it was mentioned to me.

I can't really see how there is a trend reversal for people to go long at this stage, the UK economy is in Stagflation right now with slow economic growth and fairly high unemployment. There is chance we could be bearish for a while to come.

That is just my opinion,

Peace guys.
"The trend is your friend, until the end."
  • #65,635
  • May 13, 2008 8:40am May 13, 2008 8:40am
Quoting DJ4x
I only trade long in the direction of fundamental, but this has been my worst week ever since started trading live. U never know though, this is all completely random
because...look at the 4 hr charts (i remember people finding less noisy 4 hr tf..lol)..if you guys didnt blow out your account during this period you can count yourself at least "not bad" trader...
first chart recent weeks..and second regular cable weeks...
there were times trading was the way easier than these days..(nice old times)
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  • #65,636
  • May 13, 2008 8:41am May 13, 2008 8:41am
Quoting nAVIN2007
its all discretion ..

if it goes up every1 will say morning star, if it goes down, why did u buy against the trend..im really starting to think its impossible to know as we not even getting retracement laws applying with this pair..
navin, I'm impressed your getting there your starting to realise the basic read a book how to trade is well too flawed to be useable.

The future IS NOT PREDICTABLE, keep it simple look for buyers / sellers and go along with them.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,637
  • May 13, 2008 8:41am May 13, 2008 8:41am
Well I'm back didnt miss much I see.
  • #65,638
  • May 13, 2008 8:44am May 13, 2008 8:44am
Quoting Doose
Well I'm back didnt miss much I see.
Actually u can just go back to work..... this is a disaster today
  • #65,639
  • May 13, 2008 8:46am May 13, 2008 8:46am
Quoting nomask
because...look at the 4 hr charts (i remember people finding less noisy 4 hr tf..lol)..if you guys didnt blow out your account during this period you can count yourself at least "not bad" trader...
first chart recent weeks..and second regular cable weeks...
there were times trading was the way easier than these days..(nice old times)
Yeah, good old days...
  • #65,640
  • May 13, 2008 8:48am May 13, 2008 8:48am
Quoting DJ4x
Actually u can just go back to work..... this is a disaster today
Is it ever, this is one of my worst days.............EVER!!!
I am done, trading for today.
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