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Cable Update (GBPUSD)

  • #79,281
  • Jul 31, 2008 2:15pm Jul 31, 2008 2:15pm
Quoting Infinity
Great observation bro...... but I still maintain that it is the close that will be important... if you notice your chart you will see that in the first scenario, the second to last pin closed lower than it opened after making a lower low...the subsequent candle then continued lower....
Today's candle is not closed yet....but if it closes higher than it opened without making a new low, then we could see similar action as you stated but to the upside... If it closes as a bearish pin however, it could be different... As I said, we should pay close attention to the day close....
Key point is the daily close! Nice job!
Just digging in the trenches like everyone else!
  • #79,282
  • Jul 31, 2008 2:16pm Jul 31, 2008 2:16pm
Still holding longs, got to get into the scalping more.
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Money & Pain Respect the market, protect your capital, be patient
  • #79,283
  • Jul 31, 2008 2:25pm Jul 31, 2008 2:25pm
Quoting toyboy tramp
Still holding longs, got to get into the scalping more.
that's what Geronimo said just before he was caught and exiled to Uzbekistan where he became the first American Indian to open a bagel factory

I think my brain has collapsed from waiting for the market to DO something

It's as indecisive as a very indecisive thing that can't make it's mind up
  • #79,284
  • Jul 31, 2008 2:28pm Jul 31, 2008 2:28pm
Money & Pain Respect the market, protect your capital, be patient
  • #79,285
  • Jul 31, 2008 2:28pm Jul 31, 2008 2:28pm
Quoting allserene
that's what Geronimo said just before he was caught and exiled to Uzbekistan where he became the first American Indian to open a bagel factory

I think my brain has collapsed from waiting for the market to DO something

It's as indecisive as a very indecisive thing that can't make it's mind up
or it could be the killer cat.
USD Est Non Mortuus
  • #79,286
  • Jul 31, 2008 2:53pm Jul 31, 2008 2:53pm
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  • #79,287
  • Jul 31, 2008 3:04pm Jul 31, 2008 3:04pm
Quoting LuckyLurker
or it could be the killer cat.
Yes my wounds are healing from the killer cat...San Francisco is 840 miles away or I would take it to a cat trickcyclist to cure it's irrational fear of 8 huge rattlesnakes spitting pressurised cold water at it
  • #79,288
  • Jul 31, 2008 3:06pm Jul 31, 2008 3:06pm
im looking at the news tomorrow and im thinking......we right where we should buy but the technicals lie with dorection down but non farm say up!

what to do ? .....i say stay the hell out

or go with the flow tomorrow...
  • #79,289
  • Jul 31, 2008 3:13pm Jul 31, 2008 3:13pm
My research has yielded this clue...

http://blog.foreignpolicy.com/files/...rnanke_0_3.jpg
  • #79,290
  • Jul 31, 2008 3:15pm Jul 31, 2008 3:15pm
Quoting allserene
My research has yielded this clue...

http://blog.foreignpolicy.com/files/...rnanke_0_3.jpg
  • #79,291
  • Jul 31, 2008 3:16pm Jul 31, 2008 3:16pm
Quoting nAVIN2007
im looking at the news tomorrow and im thinking......we right where we should buy but the technicals lie with dorection down but non farm say up!

what to do ? .....i say stay the hell out

or go with the flow tomorrow...
Yea this should be interesting, looks like we close with a graveyard doji.....I've been reading that probably still won't help my cause though
  • #79,292
  • Jul 31, 2008 3:16pm Jul 31, 2008 3:16pm
his beard is nicely trimmed though.
USD Est Non Mortuus
  • #79,293
  • Jul 31, 2008 3:16pm Jul 31, 2008 3:16pm
Quoting allserene
My research has yielded this clue...

http://blog.foreignpolicy.com/files/...rnanke_0_3.jpg
Just digging in the trenches like everyone else!
  • #79,294
  • Jul 31, 2008 3:17pm Jul 31, 2008 3:17pm
Quoting nAVIN2007
im looking at the news tomorrow and im thinking......we right where we should buy but the technicals lie with dorection down but non farm say up!

what to do ? .....i say stay the hell out

or go with the flow tomorrow...
I think bro tomorrow news might help technicals to go down because ADP non farm came out 9K positive on Wednesday and nonfarm is coming out tomorrow, Actually these are similar news and past history shows that they always come in the same direction like last time -79K for ADP and -60 K for non farm, so this time we already have 9K positive for ADP so I think non farm might be less than expected number or might be a positive number, anything is possible so I really would like to have consolidation or retracement to at least 1.9775 area before it hits 1.99 area, I can wait this upward visit as I have large SL but I really would like to exit out my short trades successfully before COB Friday... will see what happens, never focus on consesuns number because today's consensus number is garbage for GDP similarly tomorrow's ADP number could be a garbage number.
  • #79,295
  • Jul 31, 2008 3:28pm Jul 31, 2008 3:28pm
because of wick from 1.9900 area i guess traders will place sell orders there too ..im debating whether i want to try this......

the problem with tomorrow news u cant take that doji into account..

the doji basically says..the downmove is exhausted, indecision, bulls have/may take over...but this doji siganl indecision because of nonfarm..is a little different....

the news tomorrow will totally decide what happen in the next 4 weeks and shock results are possible....only last 2 week dollar made a recovery and i have no experience with this set of news, except it likely give 200 pips and headache
  • #79,296
  • Jul 31, 2008 3:56pm Jul 31, 2008 3:56pm
The DJIA got it's teeth kicked in again today! 205.67 as of posting.
Just digging in the trenches like everyone else!
  • #79,297
  • Jul 31, 2008 4:04pm Jul 31, 2008 4:04pm
Quoting eohater
The DJIA got it's teeth kicked in again today! 205.67 as of posting.
dj lost its teeth already.. working on the gums now.
USD Est Non Mortuus
  • #79,298
  • Jul 31, 2008 4:06pm Jul 31, 2008 4:06pm
Quoting LuckyLurker
dj lost its teeth already.. working on the gums now.


Just wait til it breaks 10K, it'll be complete reconstructive surgery when it lands at 8K
Just digging in the trenches like everyone else!
  • #79,299
  • Jul 31, 2008 4:16pm Jul 31, 2008 4:16pm
big news on cnbc this morning was CRAMER had called the bottom of the market

i should have sold the lot when i heard that
  • #79,300
  • Jul 31, 2008 4:37pm Jul 31, 2008 4:37pm
Quoting allserene
big news on cnbc this morning was CRAMER had called the bottom of the market

i should have sold the lot when i heard that
,

yeah for sure, very good indicator! DOW 9,000 within 6months perhaps
Trading is 80% Emotional, 20% Technical
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