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Cable Update (GBPUSD)

  • #67,521
  • May 23, 2008 8:56am May 23, 2008 8:56am
mind you check mout the usdx and usd chf look ready to break any min

Which would mean weak dollar.

They almost look like the same chart.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,522
  • May 23, 2008 9:03am May 23, 2008 9:03am
Quoting fxpredator
Hello Traders,

i will enter short at 1.9850 area, for 70-100 pips profit.

what do you plan to do ?

we have double top, and many stochastics are overbouth... and it is friday

here is another opinion of Philip Nel (very good trader), and he is for long cable .... http://forexfactory.com/showpost.php...ostcount=15050

wish you profitable trading

FXP
He's out now I think
USD Est Non Mortuus
  • #67,523
  • May 23, 2008 9:03am May 23, 2008 9:03am
Quoting nomask
i guess it might be more likely a bearish rather than a doji..
bearish is much better for sure but i just eliminated that option because of dollar weakness
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,524
  • May 23, 2008 9:10am May 23, 2008 9:10am
just shorted with tight stop
  • #67,525
  • May 23, 2008 9:18am May 23, 2008 9:18am
Im thinking down for today.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,526
  • May 23, 2008 9:24am May 23, 2008 9:24am
hate and can't help counter trading but double top,monthly pivot and head and shoulder on 5 min seemed good enough to me..
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  • #67,527
  • May 23, 2008 9:25am May 23, 2008 9:25am
Quoting Bones
Im thinking down for today.
Sounds good but Im not selling in an uptrend, learned my lesson. I will buy def. when I think that it has reached a bottom.

  • #67,528
  • May 23, 2008 9:26am May 23, 2008 9:26am
Todays fig 4.89 pretty close to the last 4 month average. We may have hit the bottom.




Quoting Bones
I heard something recently about news numbers like Non farm that actually makes perfect sense and is now obvious.
Trade desks are not looking at that released number alone. They take say the previous 4 months and and 12 months and average them. Which may answer the question we ask about news releases ,when we don’t see the desired effect on certain numbers.(as well as being priced in etc)
That also got me thinking as to how much do I know about the number on existing home sales today. Well not much apart from the headline predicted number which is 4.86 million sales for the month of April 08.I have no idea how that number relates to the last few years at all.

So I have looked into it so I can have a view of how bad/good that number is

In 2005 the average monthly sales were 7.076 million
In 2006 the average monthly sales were 6.478 million
In 2007 the average monthly sales were 5.652 million
Home Sales are down 2% from Feb to March 08 and 19.3% Vs last year.
Since Dec 07 to march 08 (last 4 months) we have an average number of 4.940 million.
I think this will help us understand the number more as to when it’s released as to how good or bad it is.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,529
  • May 23, 2008 9:28am May 23, 2008 9:28am
still sticking to my guns here i wish i shored a bit higher but i wont add another just incase........dont want to send it up any more....

target @ 1.9619
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  • #67,530
  • May 23, 2008 9:28am May 23, 2008 9:28am
Quoting Bones
Todays fig 4.89 pretty close to the last 4 month average. We may have hit the bottom.
exactly
this could be the start of the housing recovery

i was thinking about that but i didnt dare say it so that i wont be eaten a live by dollar haters
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,531
  • May 23, 2008 9:30am May 23, 2008 9:30am
Quoting AmeriTrini
Sounds good but Im not selling in an uptrend, learned my lesson. I will buy def. when I think that it has reached a bottom.

not much momentum to continue the uptrend plus we have halifax next week

that could shape the direction of cable
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,532
  • May 23, 2008 9:30am May 23, 2008 9:30am
Same as Jamie im still waiting to get in keep missing oportunities,lol




Quoting AmeriTrini
Sounds good but Im not selling in an uptrend, learned my lesson. I will buy def. when I think that it has reached a bottom.

On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,533
  • May 23, 2008 9:31am May 23, 2008 9:31am
Closed my long position when the US data came out and cable started to fall. When the dust settled, got back in long again. Yes no good to short when the trend is obviously up.
Expected the unexpected
  • #67,534
  • May 23, 2008 9:31am May 23, 2008 9:31am
Quoting nAVIN2007
still sticking to my guns here i wish i shored a bit higher but i wont add another just incase........dont want to send it up any more....

target @ 1.9619
dude try not to wait till 9619
its a bit hard to reach
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #67,535
  • May 23, 2008 9:32am May 23, 2008 9:32am
Still need to get above the 5 mil mark I think Salah as that is as low as the lowest reading I can see.


Quoting salah k.
exactly
this could be the start of the housing recovery

i was thinking about that but i didnt dare say it so that i wont be eaten a live by dollar haters
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,536
  • May 23, 2008 9:33am May 23, 2008 9:33am
Quoting nAVIN2007
still sticking to my guns here i wish i shored a bit higher but i wont add another just incase........dont want to send it up any more....

target @ 1.9619
target 1.9619???
  • #67,537
  • May 23, 2008 9:36am May 23, 2008 9:36am
Quoting salah k.
exactly
this could be the start of the housing recovery

i was thinking about that but i didnt dare say it so that i wont be eaten a live by dollar haters
Are there any dollar haters here? I am not one for sure. Most people were calling to short cable when it was going down earlier this month.
Expected the unexpected
  • #67,538
  • May 23, 2008 9:37am May 23, 2008 9:37am
Quoting AmeriTrini
target 1.9619???
yes ...
  • #67,539
  • May 23, 2008 9:38am May 23, 2008 9:38am
Quoting nAVIN2007
yes ...
how come Nav, you know something I dont?
  • #67,540
  • May 23, 2008 9:38am May 23, 2008 9:38am
Quoting Bones
Still need to get above the 5 mil mark I think Salah as that is as low as the lowest reading I can see.
ur right
but i mean 5 mil in such a big number wont make that difference
or maybe it will
"what doesn't bankrupt me, makes me stronger" modern nietzche
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