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Cable Update (GBPUSD)

  • #69,121
  • Jun 4, 2008 11:20am Jun 4, 2008 11:20am
Quoting Moe
swing, i shoot for 100+ pips per trade i was short 9610 was hoping in a market like this it will hit 1.9510 where i clould get out with 100 pips.

Many posts ago an old wizard trader said...

CHECK THIS ------> #68639

Could The Wizard be right?
Attached Image (click to enlarge)
Click to Enlarge Name: Moe The Wizard.png Size: 780 KB
  • #69,122
  • Edited 12:15pm Jun 4, 2008 11:35am | Edited 12:15pm
Quoting magictrader
Could it be only trendline retest and then go back up??
According to the chart, nobody knows whether it's gonna go up soon or till next week, next month, or it may continue its trend going down. A bigger picture would be nice. A trend which shows 1 year past and with market information about the current issues, plannings of financial institutions, banks, corporate movement, and the world's market activities as a whole.

Do not rely heavily on the chart, guys. Step out of the box and look at it from the outside.

Take my advice if success is in your game.
{Promotion Removed}
  • #69,123
  • Jun 4, 2008 11:47am Jun 4, 2008 11:47am
Quoting Carrera
Many posts ago an old wizard trader said...

CHECK THIS ------> #68639

Could The Wizard be right?
I must learn from the Gand Wizard Moe
All I want is 50+ PIPs/day with one trade. Two if absolutely necessary.
Don't Get Bitter, Get Better
  • #69,124
  • Jun 4, 2008 12:11pm Jun 4, 2008 12:11pm
tomorrow is packed with news
too bad i have a freaking exam
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,125
  • Jun 4, 2008 12:11pm Jun 4, 2008 12:11pm
Quoting NuB
I must learn from the Gand Wizard Moe
All I want is 50+ PIPs/day with one trade. Two if absolutely necessary.
dont we all
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,126
  • Jun 4, 2008 12:22pm Jun 4, 2008 12:22pm
Quoting salah k.
tomorrow is packed with news
too bad i have a freaking exam
yea got classes all day tomorrow too
next week exams
how u been

for me im still buyin
  • #69,127
  • Jun 4, 2008 12:24pm Jun 4, 2008 12:24pm
Quoting salah k.
dont we all
Do you swing too Salah?
I'm a newbie trying to gain some consistency with my trading. Hence the name NuB :nerd:
Don't Get Bitter, Get Better
  • #69,128
  • Jun 4, 2008 1:18pm Jun 4, 2008 1:18pm
Quoting boxingislife
yea got classes all day tomorrow too
next week exams
how u been

for me im still buyin
hey hey hey
how u been bro

im good

got 3 more freakin exams

i was tempted to buy but dollar decided to go strong on my watch
anyhow tomorrow will be a very important point in for cable im sure to place a trade after my exam.

good to here from u and good luck on ur exams
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,129
  • Jun 4, 2008 1:21pm Jun 4, 2008 1:21pm
Quoting NuB
Do you swing too Salah?
I'm a newbie trying to gain some consistency with my trading. Hence the name NuB :nerd:
i try but i cant get a 100 pips like MOE
u c he has been in the industry for a while and he probably has a bulletproof system
whereas im still workin on mine

but stick around the traders in here are great and they will teach u a lot
listen to their advice and accumulate it along with ur info and come up with a system that u and ur account can handle

all the best bro
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,130
  • Jun 4, 2008 2:10pm Jun 4, 2008 2:10pm
nice picture Carrera
If I Go Broke Trying Then I Will die happy.
  • #69,131
  • Jun 4, 2008 2:22pm Jun 4, 2008 2:22pm
benny is laughing
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,132
  • Jun 4, 2008 2:23pm Jun 4, 2008 2:23pm
guess he bought USD
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,133
  • Jun 4, 2008 2:38pm Jun 4, 2008 2:38pm
Quoting Moe
nice picture Carrera
http://www.forexfactory.com/attachme...1&d=1212596355

  • #69,134
  • Jun 4, 2008 4:51pm Jun 4, 2008 4:51pm
im looking for that trader that said we will never see 9600 again, he was 100% sure, they come and go around here when they make such bold prediction, example soros jr
If I Go Broke Trying Then I Will die happy.
  • #69,135
  • Jun 4, 2008 5:03pm Jun 4, 2008 5:03pm
Quoting Moe
im looking for that trader that said we will never see 9600 again, he was 100% sure, they come and go around here when they make such bold prediction, example soros jr
moe it seems to me that movement is entirely based on news reports and how people react to good and bad data....
and it is this simple ......would u say this is correct?
  • #69,136
  • Jun 4, 2008 5:09pm Jun 4, 2008 5:09pm
Does anybody know that Halifax news ever has a determined time for tonight London Session or is it still tentative.

Because I am thinking if that news will be coming lets say at 2:00 or 3:00 am Eastern time then London will have a direction of G/U pair and if that news would be in red (there is a high possibility of that news would be in negative as last Nation Wide and Rics news would be bad).

I paid the price last night was already have the position before the London open. I learned this with the experience that between 2:00 am - 4:00 am Central Zone the direction of trend will happen and if there is huge amount of negative UK news in line then it will be easy for the direction of trend to take its path.

So from now on I will focus more on fundamental rather than Technicals/Analysis/Charts because yesterday night was the best example of fundamentals (assigned news, bernanke speach, Aus/GBP pressure, worst news of UK) as I used to focus more on fundamentals.
  • #69,137
  • Jun 4, 2008 5:20pm Jun 4, 2008 5:20pm
Quoting asyed4
Does anybody know that Halifax news ever has a determined time for tonight London Session or is it still tentative.

Because I am thinking if that news will be coming lets say at 2:00 or 3:00 am Eastern time then London will have a direction of G/U pair and if that news would be in red (there is a high possibility of that news would be in negative as last Nation Wide and Rics news would be bad).

I paid the price last night was already have the position before the London open. I learned this with the experience that between 2:00 am - 4:00 am Central Zone the direction of trend will happen and if there is huge amount of negative UK news in line then it will be easy for the direction of trend to take its path.

So from now on I will focus more on fundamental rather than Technicals/Analysis/Charts because yesterday night was the best example of fundamentals (assigned news, bernanke speach, Aus/GBP pressure, worst news of UK) as I used to focus more on fundamentals.
i cant see how how news will be good bro ...infact even when it improved i was shocked ..i think its impossible to tell b4 the event...
  • #69,138
  • Jun 4, 2008 5:21pm Jun 4, 2008 5:21pm
Quoting nAVIN2007
moe it seems to me that movement is entirely based on news reports and how people react to good and bad data....
and it is this simple ......would u say this is correct?
I agree with Navin as if CPI number would be in positive then G/U would take an upward movement from 1.9584 to at least 1.9650 because before this news the pair was at 1.9582/87 and just after the news may be 10 seconds this pair was easily sitting at 1.9553/1.9558. Plus at 2:00 am London open, they cracked the pair becaue of Bernanke speach of dollar strenght on Tuesday morning and Aussie/GBP pressure and the pair dropped from 1.9610 to 1.9560.

You can test this philosophy when there is no fundamentals in London Session then I will certain that the direction of this pair will be basing on E/U move or GBP/JPY move I mean Euro and Jpy crosses and of-course it will also depend on technicals, analysis and charts.

Because the fxcm charts, analysis went wrong last night as the pair dramatically dropped from 1.9610 to 1.9560 because of fundamentals. So I don't think we can sue FXCM broker because we need to understand that there is a vital importance of Fundamentals.

I remind you guys that I used to do the trading for 6 months just based on fundamentals but I was poorly lacking for risk and money management and PL levels and that is why I heavily lost in the past.
  • #69,139
  • Jun 4, 2008 5:30pm Jun 4, 2008 5:30pm
Quoting Carrera
Many posts ago an old wizard trader said...

CHECK THIS ------> #68639

Could The Wizard be right?
indeed nice picture yet prediction
Keep Learning and you'll get what you want...
  • #69,140
  • Jun 4, 2008 6:12pm Jun 4, 2008 6:12pm
return to 1.9000 right am i correct?
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