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Cable Update (GBPUSD)

  • #73,121
  • Jun 29, 2008 7:14am Jun 29, 2008 7:14am
Absolutely Salah there is always going to be that type of risk to trading.
For me though that is a very high probability trade although against the trend and that price will touch 138 before it breaks the high at 143.
Since I have never traded Oil I will observe only unless I can reduce my risk from where it is now, i.e. price rises first and gives me a sign on 4hr.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #73,122
  • Jun 29, 2008 7:37am Jun 29, 2008 7:37am
A little confluence adds to my thinking...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #73,123
  • Jun 29, 2008 8:04am Jun 29, 2008 8:04am
Quoting Bones
A little confluence adds to my thinking...
Good stuff brother! I'd just wait until the downside if there is one and buy in as the fact of the matter is that most of the big money is pointing north on this.
I dream, therefore I become.
  • #73,124
  • Jun 29, 2008 8:14am Jun 29, 2008 8:14am
Quoting Bones
Absolutely Salah there is always going to be that type of risk to trading.
For me though that is a very high probability trade although against the trend and that price will touch 138 before it breaks the high at 143.
Since I have never traded Oil I will observe only unless I can reduce my risk from where it is now, i.e. price rises first and gives me a sign on 4hr.
definately ...same here ..never traded just using it to add to confluence. this movement up on cable (i wish i been looking at daily).diverenence was a big signal too adding confluence to go up!

just goes to show u that it really is all in the charts ...
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  • #73,125
  • Jun 29, 2008 8:16am Jun 29, 2008 8:16am
Quoting mike w
Good stuff brother! I'd just wait until the downside if there is one and buy in as the fact of the matter is that most of the big money is pointing north on this.
i think thats what im gonna do as it easy to get burnt ....look for a pin on the downfall ....nice to see u post here again mike, hope it all going well for u buddy
  • #73,126
  • Jun 29, 2008 8:25am Jun 29, 2008 8:25am
Quoting nAVIN2007
i think thats what im gonna do as it easy to get burnt ....look for a pin on the downfall ....nice to see u post here again mike, hope it all going well for u buddy
Thanks man, everything is going great here and I can only hope the same for you my friend!

As for playin it that way, that's the most intelligent thing to do. Instead of shorting here and just getting the retracement (which you dont know where it will end OR begin for that matter), just buy when you see bullishness and catch the trend again.
I dream, therefore I become.
  • #73,127
  • Edited 9:32am Jun 29, 2008 8:45am | Edited 9:32am
Gbp/Jpy

Short Term wave-count ...............

---------------------------------------------------
Only a Probability !..................... Not Cast in Stone

----------------------------------------------------
http://i31.tinypic.com/2vuxyza.gif
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  • #73,128
  • Jun 29, 2008 11:02am Jun 29, 2008 11:02am
Quoting Qu|cksilver
Yes it may pullback but also it may continue bullish..
I think you need to be confidence about your suggestion on earlier post. Stick with it. It's somewhat a game of risky business and it favors those who has confidence and experience.
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  • #73,129
  • Jun 29, 2008 11:06am Jun 29, 2008 11:06am
Quoting forexpert
I think you need to be confidence about your suggestion on earlier post. Stick with it. It's somewhat a game of risky business and it favors those who has confidence and experience.
hey man that quicksilver post was made 2 years ago
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #73,130
  • Jun 29, 2008 11:07am Jun 29, 2008 11:07am
Quoting salah k.
hey man that quicksilver post was made 2 years ago
  • #73,131
  • Jun 29, 2008 11:42am Jun 29, 2008 11:42am
Quoting salah k.
hey man that quicksilver post was made 2 years ago
hahahahaahmaybe wht he try say is history repeat it self.haaaaabro I think cable gonna go down because oil prce maybe drop:arab saudi want to increase its export from 300k to 500k barrel.and where is quicksilver now?I see many expert trader dissappear like spudfyre,quicksilver and other.where are they?
  • #73,132
  • Jun 29, 2008 11:46am Jun 29, 2008 11:46am
Quoting B@by trader
hahahahaahmaybe wht he try say is history repeat it self.haaaaabro I think cable gonna go down because oil prce maybe drop:arab saudi want to increase its export from 300k to 500k barrel.and where is quicksilver now?I see many expert trader dissappear like spudfyre,quicksilver and other.where are they?
spending there money ...
  • #73,133
  • Jun 29, 2008 11:49am Jun 29, 2008 11:49am
Quoting salah k.
BONES u know ur right about the pin
and if it was any other chart i'd play it

but since its oil it behaves more political and fundamental issues
for example if israel threatened iran again on monday its very likely we will c 150+$ in that same day

holly shit bro ...i was reading the thread on oil ...i never realise that it could have got so serious .....the world is faling apart i just wish people would realise we all one of the same.
there are good people and bad ones and can be of any race ...
  • #73,134
  • Edited 12:41pm Jun 29, 2008 12:30pm | Edited 12:41pm
sorry double post
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #73,135
  • Jun 29, 2008 12:37pm Jun 29, 2008 12:37pm
Hey Mike do you ever trade oil as it seems a really wild cat.

BTW I'm still in on usd cad but wherever I look I see $ strength.+ its 1st time back to 150ema which price will probably bounce off.I mean I do think were going to the bottom of the range just I might sell again higher up.




Quoting mike w
Good stuff brother! I'd just wait until the downside if there is one and buy in as the fact of the matter is that most of the big money is pointing north on this.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #73,136
  • Jun 29, 2008 1:10pm Jun 29, 2008 1:10pm
Quoting B@by trader
hahahahaahmaybe wht he try say is history repeat it self.haaaaabro I think cable gonna go down because oil prce maybe drop:arab saudi want to increase its export from 300k to 500k barrel.and where is quicksilver now?I see many expert trader dissappear like spudfyre,quicksilver and other.where are they?
dude if saudi raises its exports to 1trillion it wouldnt make a difference now

the only thing that would make a difference is if israel and iran stop threatening each other

iran has a big part of world oil reserve and if it says it will cause an oil embargo that means it will.

i dont know if u know about the oil embargo king Faysal of Saudi Arabia did and what it caused to America and the world mainly because of the unimaginable hike in oil and commodities.

but that embargo didnt last because i think he was shot but I'm not so sure about that info. Abuawad is probably more informed about it.

what Im trying to say is Oil=politics
more political distress in middle east= higher oil

simple formula for now
but in a politically distress free middle east that pin that Bones talked about would represent a great opportunity to enter.

and forget about OPEC the supply is higher than demand. and an OPEC official said a while back if it was supply demand problem oil should be at most 50$(mind u it is still relatively high comparing to 3 years back)

funny eh
the way the world works is 2% of the people(The big boys) screw 98% just to increase there wealth which would probably be meaningless compared to there already acquired wealth.

but Im not gonna be a sucker once i hear a war is coming between israel and iran man im gonna mortgage all the houses of all of my family members( mom dad aunt uncle .....) and buy oil
since the world doesn't give a crap about us i say f*** the world and to each his own.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #73,137
  • Jun 29, 2008 1:13pm Jun 29, 2008 1:13pm
Quoting nAVIN2007
holly shit bro ...i was reading the thread on oil ...i never realise that it could have got so serious .....the world is faling apart i just wish people would realise we all one of the same.
there are good people and bad ones and can be of any race ...
yeah bro i wonder wat will happen wen we are really nearing a shortage.(like one that would only last us 10 years)
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #73,138
  • Jun 29, 2008 1:23pm Jun 29, 2008 1:23pm
Quoting Bones
Hey Mike do you ever trade oil as it seems a really wild cat.

BTW I'm still in on usd cad but wherever I look I see $ strength.+ its 1st time back to 150ema which price will probably bounce off.I mean I do think were going to the bottom of the range just I might sell again higher up.
Hey, how's it goin brother?

Yeah I trade oil, but only longer term because I can't keep up on shorter term movements with it. I'm just riding out from 122 since I missed the first batch going up. You know what's funny is that when I was still in college, I wrote a paper on oil's move up. Back then it was hitting the 80's. I lost my confidence at that time and didn't want to jump the gun on the trade so I never took it lol

As for the usd/cad, I'm in the same boat, It would seem that we are at support right now so I may do the exact same thing and jump out in order to short again at a better price.
I dream, therefore I become.
  • #73,139
  • Jun 29, 2008 1:29pm Jun 29, 2008 1:29pm
Quoting nAVIN2007
holly shit bro ...i was reading the thread on oil ...i never realise that it could have got so serious .....the world is faling apart i just wish people would realise we all one of the same.
there are good people and bad ones and can be of any race ...

I've never seen truer words than these. One love- the only problem is that people don't believe that. I can have love for anybody if they show it back to me. In the same light, I can have respect for people that don't show love back, just because of how they've acted in the past, are acting now, or will act in the future.

When we were younger, there was no such thing as race or gender...only other people to have fun with and play tag and other stuff with. Nobody understands that anymore, it seems. OK, sentimental rant is over now. lol
I dream, therefore I become.
  • #73,140
  • Jun 29, 2008 2:06pm Jun 29, 2008 2:06pm
Quoting mike w
I've never seen truer words than these. One love- the only problem is that people don't believe that. I can have love for anybody if they show it back to me. In the same light, I can have respect for people that don't show love back, just because of how they've acted in the past, are acting now, or will act in the future.

When we were younger, there was no such thing as race or gender...only other people to have fun with and play tag and other stuff with. Nobody understands that anymore, it seems. OK, sentimental rant is over now. lol

its vey sad isnt it!....im with u ..love every1 as god does and they would be no war just peace and happy life but no people look for power...its a sick world unfortunately..
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