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Cable Update (GBPUSD)

  • #70,421
  • Jun 12, 2008 5:31am Jun 12, 2008 5:31am
Quoting fxswing
It's hard to say.
But what's for sure is that the easiest path for people is to vote "No", due to the complex nature of the Lisbon treaty, and reluctance to change.

Now we'll see how it unfolds, but watch your positions tonight...
4give my ignorance but
wats this meeting all about
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,422
  • Jun 12, 2008 5:41am Jun 12, 2008 5:41am
Anyone long?
Just digging in the trenches like everyone else!
  • #70,423
  • Jun 12, 2008 5:41am Jun 12, 2008 5:41am
well yes... aggressive long! normally I wait for the bar to complete, but 15 mins look good for a nice reversal... engulfing pattern.. plus double bottom on 1 hour chart... lets wait and see

Quoting Runway Trade
Good time to pick a bottom?
  • #70,424
  • Jun 12, 2008 5:42am Jun 12, 2008 5:42am
me me me me me



Quoting eohater
Anyone long?
  • #70,425
  • Jun 12, 2008 5:43am Jun 12, 2008 5:43am
Quoting salah k.
4give my ignorance but
wats this meeting all about
The Lisbon treaty is the rewritten text, that should replace the rejected EU constitution (rejected in may 2005 by the No votes by French and Dutch voters).

Ireland is the only nation to vote on this text, all 26 other nations will have their parliament adopt the text without a referendum. This single Irish vote could derail all the process.

This text is critical to Europe governance, because it sets the rules of majority when voting in a bloc of 27 nations and 490 millions citizen.
Without this text, the old rule of unanimity will stay in place and no new policy could be voted, because of unanimity rule.

If the "No" wins, this will erode investors confidence, hence the possible selling in European currency.
Getting it right is NOT as important as not getting it wrong.
  • #70,426
  • Jun 12, 2008 5:45am Jun 12, 2008 5:45am
time to go up i guess. 30 mins formed a nice reversal pattern at a support. could still be a retracement anyway. am definitley not trading today anymore. 70pips is ok.
  • #70,427
  • Edited 5:57am Jun 12, 2008 5:47am | Edited 5:57am
Quoting laposta74
NAvin, sorry for bothering you. av bin following ur posts for avery long time. one thing av also learnt about candle patterns is that on pattern on one timeframe might be cancelled by one on another. e.g. an inverted hammer on 15mins (uptrend) towards the end of a four hour candle might end up becoming a bullish engulfing on the 4H chart. so which way do you go....
up or down?.. u have to trade of one timeframe and only use larger timeframes to confirm the safety of such trades. never look to the lower ones. its just like being on d 5th floor of a buillding. will someone on the 10th floor not see you better than somone on the ground floor?

what i do use pivots and look for a candle pattern around major support/resistance area....note how price reacted in the past...then a signal on a lower time frame can be a early signal.....

otherwise 1hr or higher go with...

15 minutes i use to find diverence along with the candle pattern to confirm, i only have ever used leading indicators to trade

price action is all u need..now im using moving averages just to gain extra confluence....but definately read steve nisson candlestick book..i have read this and found it very usefull

doji, engulfing pattern, dark cloud cover, piercing pattern .....i look for this always at only support/resistance

right now ..15 minute chart has a morning star configuration...means nothing really just that need to look at 1 hr to produce a piercing pattern...then long is good to go..
i say this to u cause this is what i should do ...but actually when i trade emotion and ovver trading take over..and i dont wait but i use weekly as reference and know that the low of last week is tested and the long wick last week rejected price (weekly) so the odd for long from here is favourable...risk im willing to take

1 hr candle can be doji here or piercing...any1 one of the 2 will produce upward movement..if this doesnt happen exit at loss....this is how i trade.....pattern are everything to me
  • #70,428
  • Jun 12, 2008 5:48am Jun 12, 2008 5:48am
long at 9485
Just digging in the trenches like everyone else!
  • #70,429
  • Jun 12, 2008 5:50am Jun 12, 2008 5:50am
Could anyone tell me why the GBP shrugged off bad news yesterday. All news were bad for the Gbp, even though it went north. Thanks.
  • #70,430
  • Jun 12, 2008 5:52am Jun 12, 2008 5:52am
Quoting eohater
Anyone long?
so do me..
  • #70,431
  • Jun 12, 2008 5:55am Jun 12, 2008 5:55am
Quoting fxswing
The Lisbon treaty is the rewritten text, that should replace the rejected EU constitution (rejected in may 2005 by the No votes by French and Dutch voters).

Ireland is the only nation to vote on this text, all 26 other nations will have their parliament adopt the text without a referendum. This single Irish vote could derail all the process.

This text is critical to Europe governance, because it sets the rules of majority when voting in a bloc of 27 nations and 490 millions citizen.
Without this text, the old rule of unanimity will stay in place and no new policy could be voted, because of unanimity rule.

If the "No" wins, this will erode investors confidence, hence the possible selling in European currency.

thnx man
i gotta say its a bad day to be in the market for euro and cable during this vote.

wow so a single no could throw euro back to 92 area
and cable possibly 9400

i need to turn cnbc on to know exactly when the vote happens
thnx again bro
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,432
  • Jun 12, 2008 5:55am Jun 12, 2008 5:55am
Last note on the Lisbon Treaty.

Bookies betting on the "No" vote.

With the vote going down to the wire the 2/1 for a No Vote looks too good to reject!
Getting it right is NOT as important as not getting it wrong.
  • #70,433
  • Jun 12, 2008 6:02am Jun 12, 2008 6:02am
This mf does not seem to want to bounce!
Just digging in the trenches like everyone else!
  • #70,434
  • Jun 12, 2008 6:06am Jun 12, 2008 6:06am
Quoting salah k.
thnx man
i gotta say its a bad day to be in the market for euro and cable during this vote.

wow so a single no could throw euro back to 92 area
and cable possibly 9400

i need to turn cnbc on to know exactly when the vote happens
thnx again bro

hope they will vote to take hisbullah's wapppon off
  • #70,435
  • Jun 12, 2008 6:10am Jun 12, 2008 6:10am
damnn , oil drop like hell
  • #70,436
  • Jun 12, 2008 6:10am Jun 12, 2008 6:10am
a nice hammer on the 1 hour and this is where we should look for longs... emotions... as navin said... grrrr... got in a little early... but lets see how it plays out.
  • #70,437
  • Jun 12, 2008 6:13am Jun 12, 2008 6:13am
Quoting guess121
a nice hammer on the 1 hour and this is where we should look for longs... emotions... as navin said... grrrr... got in a little early... but lets see how it plays out.

the problem is the droping of the oil holding the price down and catch the uper trend to be formd, i think we will see a stable period now till the USA news pop out
  • #70,438
  • Jun 12, 2008 6:16am Jun 12, 2008 6:16am
Quoting warta
hope they will vote to take hisbullah's wapppon off
who gives a crap
i hope they vote and give me a couple of hundred pips
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,439
  • Jun 12, 2008 6:20am Jun 12, 2008 6:20am
warta read this post
http://www.ireland.com/newspaper/bre...breaking12.htm
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #70,440
  • Jun 12, 2008 6:25am Jun 12, 2008 6:25am
from www.ireland.com
"
What percentage of people indicated they would vote No to Lisbon in the latest Irish Times poll?

Correct answer: 35 per cent "
"what doesn't bankrupt me, makes me stronger" modern nietzche
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