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Cable Update (GBPUSD)

  • #76,101
  • Jul 15, 2008 5:23am Jul 15, 2008 5:23am
http://banking.senate.gov/public/ind...0-5236e882a0d0

for anyone who wishes to watch bernanke hearing live 10am ET
Trading is 80% Emotional, 20% Technical
  • #76,102
  • Jul 15, 2008 5:48am Jul 15, 2008 5:48am
Quoting sheraz
Should we buy or sell now????

GBP will go more higher u think?
bull flag on 15/30min?
Trading is 80% Emotional, 20% Technical
  • #76,103
  • Jul 15, 2008 5:57am Jul 15, 2008 5:57am
Can anyone share with us there technical analysis for today?

USD CPI is forcast less

What is maximum possible of GBP
  • #76,104
  • Jul 15, 2008 6:18am Jul 15, 2008 6:18am
Quoting sheraz
Can anyone share with us there technical analysis for today?

USD CPI is forcast less

What is maximum possible of GBP
trade what u see! its not actually that difficult today
Trading is 80% Emotional, 20% Technical
  • #76,105
  • Jul 15, 2008 6:37am Jul 15, 2008 6:37am
Quoting fx local
trade what u see! its not actually that difficult today
i see 2.02xx..or juz me??
  • #76,106
  • Jul 15, 2008 6:42am Jul 15, 2008 6:42am
I think we hit the top side??
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 15 KB
  • #76,107
  • Jul 15, 2008 6:44am Jul 15, 2008 6:44am
Quoting dRunKen aRmy
i see 2.02xx..or juz me??
anything is possible 2.02 more likely than 19800!
Trading is 80% Emotional, 20% Technical
  • #76,108
  • Jul 15, 2008 6:53am Jul 15, 2008 6:53am
news is waiting to push this MF up, im out, becarefull going short to early, remember what happen to the guys yesterday.
If I Go Broke Trying Then I Will die happy.
  • #76,109
  • Jul 15, 2008 6:54am Jul 15, 2008 6:54am
we should re-test today high.
If I Go Broke Trying Then I Will die happy.
  • #76,110
  • Jul 15, 2008 7:01am Jul 15, 2008 7:01am
Quoting Moe
we should re-test today high.
Yup. I still think 2.0190 is coming....
Patience + Discipline - Greed = Success
  • #76,111
  • Jul 15, 2008 7:13am Jul 15, 2008 7:13am
Quoting Moe
we should re-test today high.
that is probable, euro will have to also make new all time as well... again serious dollar weakness, fundamentally flawed currency
Trading is 80% Emotional, 20% Technical
  • #76,112
  • Jul 15, 2008 7:16am Jul 15, 2008 7:16am
Quoting Moe
news is waiting to push this MF up, im out, becarefull going short to early, remember what happen to the guys yesterday.
yep, any strength in US news should be seen as buying opp since the banking crisis is underlying theme
Trading is 80% Emotional, 20% Technical
  • #76,113
  • Jul 15, 2008 7:24am Jul 15, 2008 7:24am
Quoting Moe
news is waiting to push this MF up, im out, becarefull going short to early, remember what happen to the guys yesterday.
Unexpected move this week caught me in surprise and wiped out my this month's profit.
That's ok. It's the punishment I got for going short too early and went against the trend.
I was preparing to play long in UK CPI report as I knew the outcome but couldn't as I was stuck with my short.
Oh well, it's all part of learning.
{Promotion Removed}
  • #76,114
  • Jul 15, 2008 7:48am Jul 15, 2008 7:48am
Quoting atif
Unexpected move this week caught me in surprise and wiped out my this month's profit.
That's ok. It's the punishment I got for going short too early and went against the trend.
I was preparing to play long in UK CPI report as I knew the outcome but couldn't as I was stuck with my short.
Oh well, it's all part of learning.
Don't try to trade news bro.. it's a lottery... TA is more sound..This move was in the chart from last months close...
Patience + Discipline - Greed = Success
  • #76,115
  • Jul 15, 2008 8:07am Jul 15, 2008 8:07am
Whats happening guys ? everything is at standstill it seems.
  • #76,116
  • Jul 15, 2008 8:08am Jul 15, 2008 8:08am
I was wrong shorted this cross yesterday...... as it was appreciating relentlessly I closed my shorts around 11.30 p.m EST with losses . The thing is GBP can go south in the near future but people will be afraid to short ....as market responded to news in a panicky way coz Indymac was given wide publicity. With the current rate cuts and available liquidity banks will sail through the current financial storm. Banks fail but every bank is not failing in USA , failing rate according to them less than 5%..... you never know ......one thing is clear people will suffer due to current policy of rate cutting for financial sector stability as opposed to price stability which affect average person(which require dire need of rate hikes for inflation control and price stability)....... maybe reverse head and shoulders pattern on 4H time frame also contributed this bigger appreciation of GBP?
BANDA333
  • #76,117
  • Jul 15, 2008 8:16am Jul 15, 2008 8:16am
Hey Guys...... Hope you guys all caught some good pips from those longs. All those holding shorts (including me) WTF were u thinking? Need to get some retracement so that I can make up for my shorts that I am still holding. Happy trading
  • #76,118
  • Jul 15, 2008 8:18am Jul 15, 2008 8:18am
Quoting DJ4x
Hey Guys...... Hope you guys all caught some good pips from those longs. All those holding shorts (including me) WTF were u thinking? Need to get some retracement so that I can make up for my shorts that I am still holding. Happy trading
What is your sl?
Patience + Discipline - Greed = Success
  • #76,119
  • Jul 15, 2008 8:20am Jul 15, 2008 8:20am
Quoting Infinity
What is your sl?
No SL. But trading such a small position that 300 equates to 3%
  • #76,120
  • Jul 15, 2008 8:32am Jul 15, 2008 8:32am
Quoting DJ4x
No SL. But trading such a small position that 300 equates to 3%
You should always have a sl.....even if it is mental. You must analyse and see what level would make your original trade idea invalid. SL will ensure that you survive in this business. You must always limit your risk.

Bless
Patience + Discipline - Greed = Success
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