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Cable Update (GBPUSD)

  • #77,681
  • Jul 24, 2008 3:34pm Jul 24, 2008 3:34pm
Quoting allserene
Let's not go to that trailer park in Ohio either

ok back to business - although I don't trade in millions, I do ok and I haven't blown my account in 4 years . That's doesnt mean I'm good - it means I stay within my limits and recognize that big bad moves happen out of the blue. My account has increased in the last few months - slowly but surely.
That means I am being entertained for free and I am hoping for the big gains that arrive every now and then

I would like to report that I am going for a gin and tonic with Liz Hurley this afternoon and that my barber says I am the image of Shaun Connery in Dr No, but in fact I am getting the grease off the back wheel on my motorbike
  • #77,682
  • Jul 24, 2008 3:39pm Jul 24, 2008 3:39pm
Quoting allserene
I would like to report that I am going for a gin and tonic


long or short?
  • #77,683
  • Jul 24, 2008 3:40pm Jul 24, 2008 3:40pm
Quoting Infinity
Daily 5sma and 200sma are in that area....
yep am keepin an eye
cheers bro
  • #77,684
  • Jul 24, 2008 3:42pm Jul 24, 2008 3:42pm
Quoting allserene
I would like to report that I am going for a gin and tonic with Liz Hurley this afternoon and that my barber says I am the image of Shaun Connery in Dr No, but in fact I am getting the grease off the back wheel on my motorbike
Just digging in the trenches like everyone else!
  • #77,685
  • Jul 24, 2008 5:13pm Jul 24, 2008 5:13pm
Look at the chart, seems possible?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.jpg Size: 158 KB
  • #77,686
  • Jul 24, 2008 5:18pm Jul 24, 2008 5:18pm
It's possible but it looks like the 8/20 ma's will cross around London opening and go up. "Hopefully"
  • #77,687
  • Jul 24, 2008 5:22pm Jul 24, 2008 5:22pm
Also GDP is tonite, so it could go either way.
  • #77,688
  • Jul 24, 2008 6:00pm Jul 24, 2008 6:00pm
Quoting Cary_FX
Also GDP is tonite, so it could go either way.
Huge event risk with the GDP release. Rumours are that it is expected to be 0.3% Q/Q growth, much lower than originally anticipated. This could be a factor that has driven cable so much lower today, when economic data and performance of the S&P500 would suggest a move to the contrary.

I think it could be an excellent buying opportunity for this pair tomorrow, with a possible move to 1.9950 area, where the 200-day SMA is situated. There is good support on the rising trendline mentioned by Infinity.

Frustrating time for me today. Stopped out on long at 19830. Stayed out of the game then, as I found the price action to be even more unpredictable than usual.

Good luck all.
  • #77,689
  • Jul 24, 2008 6:02pm Jul 24, 2008 6:02pm
Quoting Infinity


Hopefully, this is the beginning of the journey to the top of the channel...

Price stopped precisely at the daily 50ema........to the pip...

MAs and trendlines ===>
Excellent analysis!
  • #77,690
  • Jul 24, 2008 6:09pm Jul 24, 2008 6:09pm
Quoting micho
wanted dead or alive

I thouhg MOE was back again. I like his picture.
  • #77,691
  • Jul 24, 2008 6:39pm Jul 24, 2008 6:39pm
Maybe getting ready to test 820 again...any thoughts?
Please ask questions and share your experiences with us all!
  • #77,692
  • Jul 24, 2008 6:53pm Jul 24, 2008 6:53pm
Quoting bkg102665
Maybe getting ready to test 820 again...any thoughts?
Don't get me wrong, I fully think this can go way up from here.. but I'm still not buying. Staying with my original buy targets which reside below 770.
USD Est Non Mortuus
  • #77,693
  • Jul 24, 2008 6:59pm Jul 24, 2008 6:59pm
Quoting LuckyLurker
Don't get me wrong, I fully think this can go way up from here.. but I'm still not buying. Staying with my original buy targets which reside below 770.
Just wondering where 770 comes from, is it the 76 fib on the 4h you are looking at?
Please ask questions and share your experiences with us all!
  • #77,694
  • Jul 24, 2008 7:49pm Jul 24, 2008 7:49pm
Quoting gammase1
But that's bad risk management to lose 70 to 100 pips for less than 50 pips gain. I don't know how long you've been trading but, in time, you will definitely come unstuck using those kind of risk/reward ratios. The risk isn't worth the potential reward on offer.

I am sure that experienced traders on this forum will back me on this one.

I have been trading FX for over a year now and in that time have made nearly every mistake in the book. And your strategy is a classic mistake made by novices.

As I said before, good luck with your position.
You are so kind , thanks for your advice.
  • #77,695
  • Jul 24, 2008 8:04pm Jul 24, 2008 8:04pm
4h chart....
Attached Image (click to enlarge)
Click to Enlarge Name: 4hbid.GIF Size: 22 KB
Patience + Discipline - Greed = Success
  • #77,696
  • Jul 24, 2008 8:38pm Jul 24, 2008 8:38pm
Quoting bkg102665
Just wondering where 770 comes from, is it the 76 fib on the 4h you are looking at?
1.9(770) is around the monthly pivot. If it breaks that, the adjustment will be almost over and I will be confortable taking a long at that point. Thats all. Below 370 being the risk for those orders.
USD Est Non Mortuus
  • #77,697
  • Jul 24, 2008 10:46pm Jul 24, 2008 10:46pm
just a word of caution: Retail sales for the month of june came in much better than expected and was even revised higher. Since the GDP reflects much of the retail sales figure, should we really be expecting it to be bearish?? REALLY???


  • #77,698
  • Jul 24, 2008 10:53pm Jul 24, 2008 10:53pm
[quotis this site working
e=AmeriTrini;2127589]just a word of caution: Retail sales for the month of june came in much better than expected and was even revised higher. Since the GDP reflects much of the retail sales figure, should we really be expecting it to be bearish?? REALLY???


[/quote]
  • #77,699
  • Jul 24, 2008 10:55pm Jul 24, 2008 10:55pm
Quoting AmeriTrini
just a word of caution: Retail sales for the month of june came in much better than expected and was even revised higher. Since the GDP reflects much of the retail sales figure, should we really be expecting it to be bearish?? REALLY???


Wat do you mean by much better than expected?

4:30pm GBPhttp://forexfactory.com/images/misc/...mpact_high.gifRetail Sales m/m
http://forexfactory.com/images/misc/...etail_star.gif -3.9%
-2.5%3.6%http://forexfactory.com/images/misc/...us_revised.gif
Expected the unexpected
  • #77,700
  • Jul 24, 2008 10:55pm Jul 24, 2008 10:55pm
retail sales wer better than expected?
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