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Cable Update (GBPUSD)

  • #67,381
  • May 22, 2008 4:26pm May 22, 2008 4:26pm
it ..'as been trying to break below 780 for more than 7 hrs and the same for breaking over 810 it is hanging between .... it is confusing .....but GDP will make the ....and bro ... dont onnly think of GDP plz think of existing homes sales in US .....
Greed is Trader 1st enemy.
  • #67,382
  • May 22, 2008 4:35pm May 22, 2008 4:35pm
Quoting yas
it ..'as been trying to break below 780 for more than 7 hrs and the same for breaking over 810 it is hanging between .... it is confusing .....but GDP will make the ....and bro ... dont onnly think of GDP plz think of existing homes sales in US .....
believe me i am bro

but i have a short on gbp/cad so im cincentrating a lot on UK news till i get rid of this short which is quite good 48 pips so far!
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,383
  • May 22, 2008 4:39pm May 22, 2008 4:39pm
Sorry to hear about you lot taking losses today, I did say it was ballsy though, don't fight the trend man!!!

I forgot it was thursday today, feels like tuesday was thinking over for the week how come doh!!! Definately too much work and not enough sleep
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #67,384
  • May 22, 2008 4:55pm May 22, 2008 4:55pm
Ok the way im seeing it is this.
A base has been formed with a very nice Daily/weekly pin.
(who says they don’t work)
9730 has been taken out decisively .That is bullish
We are now in the 9730 -9877 zone and I fully expect price at some point to touch 9877 area and then long term falling TL if that takes say 3 days that would be 1.9950
There is nothing bearish in the immediate term direction on the daily and right now it pays to be a buyer.
Buy at 9740 with SL under broken falling TL
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,385
  • May 22, 2008 5:03pm May 22, 2008 5:03pm
Quoting Moe
have you lost your mind
actually he is very close to my target price also but that doesnt mean anything either

dont be caught in a bear trap looking for your 9450 area
Don't chase the market, Let the market come to you
  • #67,386
  • May 22, 2008 5:05pm May 22, 2008 5:05pm
Quoting Bones
Ok the way im seeing it is this.
A base has been formed with a very nice Daily/weekly pin.
(who says they don’t work)
9730 has been taken out decisively .That is bullish
We are now in the 9730 -9877 zone and I fully expect price at some point to touch 9877 area and then long term falling TL if that takes say 3 days that would be 1.9950
There is nothing bearish in the immediate term direction on the daily and right now it pays to be a buyer.
Buy at 9740 with SL under broken falling TL
bro u know how much i respect ur analysis but i mean 4 bullish daily candles require some profit taking
dont u think

and tomorrow might be the perfect chance for consolidation if news come in bad for UK

just an opinion any comments are appreciated
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,387
  • May 22, 2008 5:06pm May 22, 2008 5:06pm
Quoting salah k.
we were depending on the US FOMC minutes which we thought might actually drop their bullshit and focus on inflation like the rest of the world(mind u they are the people suffering most)

but that didnt happen and screwed everything up
hey salah them FED minutes were pure crap shoot for sure... every 1 knows they have a weak dollar policy, its not just the FED is the US government have very poor fiscal disciple, they over borrow(mainly from china) and fill holes in mortgage industry with new printed money out of thin air...

bottom line dollar is a terribly flawed currency (not that sterling any better!) they create all the inflation via increasing the money supply(debasing the dollar) then export it around the world.... the tricky thing with cable pair is that its trading the weak against the weak - although this week has shown a much needed bull run, longer term sterling will prob go lower but not until it has tested and gone above 2.00 + perhaps

happy trading to you bro

gurps
Trading is 80% Emotional, 20% Technical
  • #67,388
  • May 22, 2008 5:08pm May 22, 2008 5:08pm
u r concern of Cad am Con of Jpy ....u should have watched the Oil boosting before doing it .... if u ve equity just leave it ...the market will come to u for some short time .....
Greed is Trader 1st enemy.
  • #67,389
  • May 22, 2008 5:11pm May 22, 2008 5:11pm
Quoting fx local
hey salah them FED minutes were pure crap shoot for sure... every 1 knows they have a weak dollar policy, its not just the FED is the US government have very poor fiscal disciple, they over borrow(mainly from china) and fill holes in mortgage industry with new printed money out of thin air...

bottom line dollar is a terribly flawed currency (not that sterling any better!) they create all the inflation via increasing the money supply(debasing the dollar) then export it around the world.... the tricky thing with cable pair is that its trading the weak against the weak - although this week has shown a much needed bull run, longer term sterling will prob go lower but not until it has tested and gone above 2.00 + perhaps

happy trading to you bro

gurps
as usual bro
great thorough analysis
i think ur right we might see 2....
but i mean for us to see 2.12 in a country thats following in the US's footsteps makes me think twice

all the best bro
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,390
  • May 22, 2008 5:14pm May 22, 2008 5:14pm
guys take a look at gbp/cad
its rockin my forex world
more predictable than this pair
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,391
  • May 22, 2008 5:18pm May 22, 2008 5:18pm
I know what you mean Salah but I think whats happening is traders are buy and holding for the bigger target say the 2 area then down .
Like Gurps says its the weak against the weak which is making things volatile.
Overall we do seem to be working for a major break to the downside a bit later in the year when the dollar (housing etc) recovers.




Quoting salah k.
bro u know how much i respect ur analysis but i mean 4 bullish daily candles require some profit taking
dont u think

and tomorrow might be the perfect chance for consolidation if news come in bad for UK

just an opinion any comments are appreciated
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,392
  • May 22, 2008 5:21pm May 22, 2008 5:21pm
Quoting salah k.
as usual bro
great thorough analysis
i think ur right we might see 2....
but i mean for us to see 2.12 in a country thats following in the US's footsteps makes me think twice

all the best bro
2.12 out of the question u can safely say!! becos we are almost like a mini US! but a least the MPC recognise that there is inflation in the land and they cant keep pumping cash to bail every 1 out as policy. But on the other hand rates here are at 5%, great they are trying to fight inflation but it is someting that they cant control becos alot of it is imported inflation. So not cutting rates and prospects of weakening UK consumuer with high mortgage costs, food, energy bills, and huge petrol costs, i mean the cost of unleaded is upto £1.15 a litre crazy should send cable much lower as indicated by the forward contracts. at this rate middle class going to get wiped out!!
Trading is 80% Emotional, 20% Technical
  • #67,393
  • May 22, 2008 5:24pm May 22, 2008 5:24pm
Quoting Bones
I know what you mean Salah but I think whats happening is traders are buy and holding for the bigger target say the 2 area then down .
Like Gurps says its the weak against the weak which is making things volatile.
Overall we do seem to be working for a major break to the downside a bit later in the year when the dollar (housing etc) recovers.
got ur point bro
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,394
  • May 22, 2008 5:26pm May 22, 2008 5:26pm
Quoting fx local
2.12 out of the question u can safely say!! becos we are almost like a mini US! but a least the MPC recognise that there is inflation in the land and they cant keep pumping cash to bail every 1 out as policy. But on the other hand rates here are at 5%, great they are trying to fight inflation but it is someting that they cant control becos alot of it is imported inflation. So not cutting rates and prospects of weakening UK consumuer with high mortgage costs, food, energy bills, and huge petrol costs, i mean the cost of unleaded is upto £1.15 a litre crazy should send cable much lower as indicated by the forward contracts. at this rate middle class going to get wiped out!!
ur right about the MPC
they r much more poised than benny

what was the name of the senator that almost made benny cry?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,395
  • May 22, 2008 6:38pm May 22, 2008 6:38pm
If anyone wants the complete trading library (250+ ebooks) PM me. They're all there.
Money & Pain Respect the market, protect your capital, be patient
  • #67,396
  • May 22, 2008 7:06pm May 22, 2008 7:06pm
Folks -GBP/USD there is regular bearish divergence with CCI ,could anybody comment on it please........ do you guys see there are resistances in weekly chart also. Appreciate comments on this regard
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  • #67,397
  • May 22, 2008 7:41pm May 22, 2008 7:41pm
Quoting fx local
hey salah them FED minutes were pure crap shoot for sure... every 1 knows they have a weak dollar policy, its not just the FED is the US government have very poor fiscal disciple, they over borrow(mainly from china) and fill holes in mortgage industry with new printed money out of thin air...

bottom line dollar is a terribly flawed currency (not that sterling any better!) they create all the inflation via increasing the money supply(debasing the dollar) then export it around the world.... the tricky thing with cable pair is that its trading the weak against the weak - although this week has shown a much needed bull run, longer term sterling will prob go lower but not until it has tested and gone above 2.00 + perhaps

happy trading to you bro

gurps
We shall definately test 2.00+, agreeing to the max. with this one......
  • #67,398
  • May 22, 2008 8:13pm May 22, 2008 8:13pm
....watch 1.9780,anything below that number is a short!
  • #67,399
  • May 22, 2008 8:17pm May 22, 2008 8:17pm
Quoting 30pips
....watch 1.9780,anything below that number is a short!
Why do you say so? What's the significance of 1.9780? Thanks.
Expected the unexpected
  • #67,400
  • May 22, 2008 8:41pm May 22, 2008 8:41pm
Look to position long beneath ADV for a move up to 1.9837 and then through this key level to 1.9956

http://www.morrisfunds.com/storage/a...05.23.2008.PNG
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