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Cable Update (GBPUSD)

  • #72,761
  • Jun 26, 2008 10:40am Jun 26, 2008 10:40am
180sma tested and bounced off as per my system, YES what a system it kicks ass!!!


Hang on, why am i short here doh!!!!!!

Euro just tested it aswell and failed to break but still near!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,762
  • Jun 26, 2008 10:47am Jun 26, 2008 10:47am
Quoting Turveyd
180sma tested and bounced off as per my system, YES what a system it kicks ass!!!


Hang on, why am i short here doh!!!!!!

Euro just tested it aswell and failed to break but still near!!
so why didn't you wait to see if it would bounce or penetrate, looks like you are showing off a system that you don't even believe in!!!
  • #72,763
  • Jun 26, 2008 10:53am Jun 26, 2008 10:53am
so far, so good, no higher highs..
  • #72,764
  • Jun 26, 2008 10:54am Jun 26, 2008 10:54am
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
I'm not a fundamental guyz hence I wonder what is the relationship between the Dow and Gbp/Usd and Eur/Usd?? if the dow crashed, does that mean G/U down???
  • #72,765
  • Jun 26, 2008 10:56am Jun 26, 2008 10:56am
is the breakout losing steam?i guess i cashed out too early (at 19830),is it a good time for re-entry?-my brain says it is suicide,but my heart says cable will move up
  • #72,766
  • Jun 26, 2008 10:57am Jun 26, 2008 10:57am
Quoting 007
I'm not a fundamental guyz hence I wonder what is the relationship between the Dow and Gbp/Usd and Eur/Usd?? if the dow crashed, does that mean G/U down???
i dont know, i dont follow the stock market.
  • #72,767
  • Jun 26, 2008 10:59am Jun 26, 2008 10:59am
Quoting AmeriTrini
so why didn't you wait to see if it would bounce or penetrate, looks like you are showing off a system that you don't even believe in!!!
I do believe in my system 14wins in a row kinda prove it if you include averaging down ie ignore single losers and take the big picture.

Just having a BAD day, we all get them, clients not going to pay me for 27days which i expected to be in my account already, so desperation kicked in and greed, so I broke my own rules and betted against my system.

Not a long term concern just a blip, does help to confirm how good my system is though, when i'm on the wrong side and it's killing me.

Would like my system to not be quite so good ofcourse today

Testing 180SMA here, 1.9867 really, then 360sma to break to confirm DT 1.9857 area!!

20pips lower on the day gets me break even COME ON!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,768
  • Jun 26, 2008 11:00am Jun 26, 2008 11:00am
A Potential reversal is setting up in the GBPUSD

http://www.forexfactory.com/showpost...ostcount=97140
  • #72,769
  • Jun 26, 2008 11:00am Jun 26, 2008 11:00am
Quoting Turveyd
Bro I suspect your over doing the pickle there
If they knew how much I liked Branston Pickle they would tax it 100% or ban it.

The U.S. can never acquire a truly great Empire unless it can discover Branston Pickle first.

This is not an advert - just an explanation of how my financial acumen was honed to razor sharp using natural substances. It's like writing a million charts in your brain and analyzing them instantly in order to make the perfect decision on entry point and direction

If forex is turned into an olympic sport you could be banned for using it

http://www.amazon.com/review/product...owViewpoints=1
  • #72,770
  • Jun 26, 2008 11:00am Jun 26, 2008 11:00am
p.s. it's not over till the fat lady sings so I suggest a new law that we shoot all fat ladies on sight [/quote]
Woke up this morning...............Got yourself a gun.
Don't Get Bitter, Get Better
  • #72,771
  • Jun 26, 2008 11:01am Jun 26, 2008 11:01am
Quoting vivekn1
is the breakout losing steam?i guess i cashed out too early (at 19830),is it a good time for re-entry?-my brain says it is suicide,but my heart says cable will move up
I wouldn't take any trade now. I also closed my long position for GU wif +73pips at the price level around you.

I will wait and see. For me, market will ranging for awhile. wont get in unless i saw a valid signal.
  • #72,772
  • Jun 26, 2008 11:03am Jun 26, 2008 11:03am
Quoting ultimate
A Potential reversal is setting up in the GBPUSD

http://www.forexfactory.com/showpost...ostcount=97140
thanks for encouraging words for my shorts
  • #72,773
  • Jun 26, 2008 11:04am Jun 26, 2008 11:04am
Quoting vivekn1
is the breakout losing steam?i guess i cashed out too early (at 19830),is it a good time for re-entry?-my brain says it is suicide,but my heart says cable will move up

Objective head on here, still in a up trend, 3hour uptrend held so far, but up huge today safer to wait for a pull back than risk holding over a pull back.

Still short, but only cause of my sticking it out and digging down deep is better over all than running around like a headless chicken
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,774
  • Jun 26, 2008 11:10am Jun 26, 2008 11:10am
Quoting NuB
p.s. it's not over till the fat lady sings so I suggest a new law that we shoot all fat ladies on sight
Woke up this morning...............Got yourself a gun.[/quote]

I shoot the GF everytime she annoys me ( fairly frequently ), sadly can only get BB guns here what I need is a elephant gun
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,775
  • Jun 26, 2008 11:24am Jun 26, 2008 11:24am
Quoting Turveyd
Woke up this morning...............Got yourself a gun.
I shoot the GF everytime she annoys me ( fairly frequently ), sadly can only get BB guns here what I need is a elephant gun [/quote]

try a b7
should work
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #72,776
  • Jun 26, 2008 11:36am Jun 26, 2008 11:36am
My U.S. shares are totally intercoursed

The Dow is not a pretty sight

All the public stats on employment/inflation/jobs/gdp don't look all that bad but Goldman sachs and Greenspan etc are forecasting doom and it's getting to stock prices

This share market could be a good buy for my money (as in goodbye)
  • #72,777
  • Jun 26, 2008 11:41am Jun 26, 2008 11:41am
Quoting 007
I'm not a fundamental guyz hence I wonder what is the relationship between the Dow and Gbp/Usd and Eur/Usd?? if the dow crashed, does that mean G/U down???
there has been a developing strong negative correlation between the Dow/S&P 500 versus cable and eurusd

i think the price of oil is the main driver of this recent trend. when the price of crude goes up, the dollar is sold off (or vice versa), causing concern to U.S. equity investors, as this heightens their inflationary pressure and the risk of stagflation, which is obviously bad for stocks.

i don't see this link breaking until the U.S. falls into a deep recession. therefore, i feel the Fed should raise rates at their next meeting, preceding this move with some hawkish rhetoric in the coming weeks. this will support the dollar and should, in my opinion, reduce commodity prices, which in turn reduces inflationary pressures, lowers long-dated bond yields, thereby making longer term borrowing cheaper for struggling homeowners.

i mainly trade fundamentals with the use of technicals to back up my decisions ie) treadlines + moving averages, meaning my outlook stretches out further than most tech guys.

i am short cable at 1.9780, which i am comfortable running with for next week or so, until the pendulum of market sentiment once again swings against the struggling U.K. economy. however, i will readily admit that the momentum of this upward move has taken me by surprise.
  • #72,778
  • Jun 26, 2008 11:50am Jun 26, 2008 11:50am
Oil is the Worlds problem not just the USA's, maybe USA could suffer worse but this is only going to get worse, but shouldn't effect Forex too much as it's on both sides of the equations.

Got to go to a client bow out -£50 100pips total or leave it on, hmmmmmmmmmmm

just started to turn down by my system to, but likely just chop around, hmmmmmmmmmmmmmmmm



Live to fight another day, or risk it and maybe make some good £££'s.

Can't decide, someone decide for me pls
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #72,779
  • Jun 26, 2008 11:53am Jun 26, 2008 11:53am
the yen crosses are taking a tumble
  • #72,780
  • Jun 26, 2008 12:01pm Jun 26, 2008 12:01pm
Quoting Clouds
the yen crosses are taking a tumble
Looks like a Exhaustion / Stop hunt drop as there seems to be no news to explain is, so logically, they'll trap some short shake out the longs and move up, which should in turn lead to GBP going down.


I was seconds away from taking -£50 on the day, less willing to take -£80

Price action dictates sellers here Euro and GBP, 5mins to decide, favouring chancing it!!

Or not, euro going UP
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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