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Cable Update (GBPUSD)

  • #81,121
  • Aug 8, 2008 10:23am Aug 8, 2008 10:23am
Quoting DJ4x
Celebrate all you want. Good trades
what made u close bro?
  • #81,122
  • Aug 8, 2008 10:27am Aug 8, 2008 10:27am
Quoting truthy
I feel bad to be celebrating, but this was a great week for me .
never feel bad for such a good thing...forex is zero some game, inorder to win one has to lose somewhere....so dont feel bad bro..enjoy the good times
  • #81,123
  • Aug 8, 2008 10:28am Aug 8, 2008 10:28am
hey everyone,


...i just came from home and according to my graph ( sorry cannot post at work right now ) on 15 tf price is above 60 ema and cannot cross below it. I bought 1 lot long till 9269 ....

wat do you think???
  • #81,124
  • Aug 8, 2008 10:28am Aug 8, 2008 10:28am
Quoting nAVIN2007
bro.i have to ask u where do u think cable max price can reach next week?
IMHO, all jokes aside, I can see this being very bad for everyone holding extreme longs. In one of my NEW (to me) systems, where I analyze Fibs, It shows that the swing from the high of Nov 2007 to the Jan 2008 low Is the beginning of a slight (used loosely) down move. It confirmed when it was unable to close above the the 30.9 FIB, 69.1 for some of you (for all you numbers people: the mid point of the 23.6 and 38.2, I just saw it one day), which I look at as a trend reversal FIB (look at the boxes):nerd:. The swing from the high of March 2008 to the low of May 08 did it again. As a result, the new low we have seen this week could very well be heading lower to the (brace yourselves) mid to lower 1.8000's (Fib extensions not seen here) through the rest of this year. Theres no telling if, when, where or how high this thing could retrace back to.
What can I say, this Trick is a gold digger.
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Don't Get Bitter, Get Better
  • #81,125
  • Aug 8, 2008 10:30am Aug 8, 2008 10:30am
Quoting asyed4
You know it is very simple to say that cut losses and move to the next opportunity;

It is too late for me to close my 4 trades no way as I funded various amounts in those 4 accounts.

And second thing it is not the matter of which country save or which country not save from the war; I am very surprised that oil didn't take this consideration as a geopolitical reason I think next week oil will and should take this reason to go up for sure......

I think this is the time for all long guys to protect their accounts according to their entry points and wait for the right time BECAUSE if any one of them close their trade and possibly next week if it started going to that close trade direrction I mean positively then that trader would freak out why and how did I close my trade on last Friday;

I think we need to give ourselves break and this weekend will give us a very good break and gets some sleep for all long guys and I am with all long guys come on man be a brave and fight the war between low and high .....
Very well articulated, as were all your other posts from today.

I echo your surprise that the price of crude oil failed to spike on the news that Russia and Georgia are at war. It just shows which way the pendulum of sentiment is currently facing, as this would have sent the price of crude oil up above $150 a barrel back in May. But it is important to reiterate the relevance of that word "pendulum", in that I think there is a strong chance the market could react to this news event next week, sending the price of oil higher, stocks lower and, most crucially, the dollar lower.

My longer term view on cable still remains bearish, based on fudamental factors, which I have stated in detail on this forum previously. However, in the short term, we could very well see a bounce to the high 1.93s (23.6% fib from 1.9155 to 2.0159) being a target for early next week.

Personally, I took a small long position at 1.9217 earlier this afternoon, with a S/L just below the 50% fib support of the move from 1.7053 to 2.1155.

The current negative tone in the markets surrounding sterling reminds me of the extreme sentiment supporting the price of crude oil when it hit $147 a barrel, with all the bulls shouting that strong demand from EM completely justifies this price, and how we will definitely see $150, $160 and $200 a barrel by the end of the year.

The louder the noise supporting price action in any asset class, the greater chances of some retracement, as this is the point when all the shorts (or longs) have been squeezed out, leaving fewer participants to enter long (or short) positions.

For example, think back to whenever the VIX Index registers an extreme reading of above 30.0, a time when everyone seems to be reading the last rites for equities and selling is at its peak. This is always an excellent contrarian signal to start picking up stocks, as such a reading is nearly always a precursor to a strong rally in the S&P500.

Anyway, enough of my two cents worth, I hope you all have a great weekend. For all you longs, make sure you get out, enjoy yourselves and come back fresh on Monday. For all you shorts - bloody well done!!
  • #81,126
  • Aug 8, 2008 10:38am Aug 8, 2008 10:38am

Carreras Productions present:


The Bloody Fall
The movie.


Staring:
nAVIN2007
Warta
Abuawad
micho
Bones
Infinity
LuckyLurker
salah k
belekas
AmeriTrini
fx local


and all the extras here.

read from left to right the scene.



to be continue...

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  • #81,127
  • Aug 8, 2008 10:40am Aug 8, 2008 10:40am
Quoting nAVIN2007
what made u close bro?
Too much mental anguish. I need a clear state of mind to trade (as we all know) and feeling the pressure. Regardless of what happens next week (up or down), I already cut it so its a fresh start for me.
  • #81,128
  • Aug 8, 2008 10:43am Aug 8, 2008 10:43am
The movie....

The Bloody Fall
Part 2

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  • #81,129
  • Aug 8, 2008 10:44am Aug 8, 2008 10:44am
Quoting Carrera
The movie....

The Bloody Fall

Part 2

The End

  • #81,130
  • Aug 8, 2008 10:47am Aug 8, 2008 10:47am
Quoting Carrera

Carreras Productions present:



The Bloody Fall
The movie.


Staring:
nAVIN2007
Warta
Abuawad
micho
Bones
Infinity
LuckyLurker
salah k
belekas
AmeriTrini
fx local


and all the extras here.


read from left to right the scene.




to be continue...

LOL Don't doctors have a machine called a de-FIB-u-later (defibrillator) CLEEEEEAAAAAARRRRRRRRRRR Where loosing it.
Don't Get Bitter, Get Better
  • #81,131
  • Aug 8, 2008 10:54am Aug 8, 2008 10:54am
Quoting DJ4x
Too much mental anguish. I need a clear state of mind to trade (as we all know) and feeling the pressure. Regardless of what happens next week (up or down), I already cut it so its a fresh start for me.
Well done. I found out positional bias is not good for the heart. Its the number one cause of blown accounts. Followed close by poor MM. Theres always next week
Don't Get Bitter, Get Better
  • #81,132
  • Aug 8, 2008 10:55am Aug 8, 2008 10:55am
Quoting NuB
LOL Don't doctors have a machine called a de-FIB-u-later (defibrillator) CLEEEEEAAAAAARRRRRRRRRRR Where loosing it.
.I love it
  • #81,133
  • Aug 8, 2008 10:57am Aug 8, 2008 10:57am
Quoting Carrera

The End


good movie eh....
  • #81,134
  • Aug 8, 2008 11:01am Aug 8, 2008 11:01am
Quoting nAVIN2007
good movie eh....

Thanks, going for the Oscar
  • #81,135
  • Aug 8, 2008 11:02am Aug 8, 2008 11:02am
Quoting DJ4x
Too much mental anguish. I need a clear state of mind to trade (as we all know) and feeling the pressure. Regardless of what happens next week (up or down), I already cut it so its a fresh start for me.

1 thing i did want to mention to u ..i hope u realised it.

be carefull with the trendlines only take notice of it if it falls with a ristance area or support..i think it might have been the reason why u bought so high up..trendlines can be dangerous..u did the right thing i think closing out..stoping the rot

im in 3 mini lots and running the risk of blowing a fair bit..i will see what happens after weekend and try get out of this mess...

good weekend buddy..
  • #81,136
  • Aug 8, 2008 11:02am Aug 8, 2008 11:02am
lol Thats so cool Carrera
Really your in the wrong business lol

Quoting Carrera

The End

On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #81,137
  • Aug 8, 2008 11:03am Aug 8, 2008 11:03am
Quoting Carrera
Thanks, going for the Oscar
Carrera, u have too much time on your hands . Brilliant
  • #81,138
  • Aug 8, 2008 11:06am Aug 8, 2008 11:06am
achnaide

I just put the 60ema on my chart & 60ema is @ 249 on m15 & the current price is 210...can't see what you're talking about as far as price being above the 60ema ......'splain please ?


best of luck to the long holders.....been a rough drop past few days ....learning to trade what I see on the charts instead of listening to the news ...took 100 pip loss before seeing the light ...was a " learning experience " for me.....congrats to the short holders...job well done !!!

'57
  • #81,139
  • Edited 11:19am Aug 8, 2008 11:06am | Edited 11:19am
Quoting Carrera

The End


bro i hope u working in advertising ..ud be brillant ...fantastic imagination u have a very very creative mind
  • #81,140
  • Aug 8, 2008 11:09am Aug 8, 2008 11:09am
Quoting DJ4x
Carrera, u have too much time on your hands . Brilliant
Well after make xxK, no more trading for me, I stop trading before I give it back to my broker. Free time now.
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