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Cable Update (GBPUSD)

  • #87,401
  • Sep 11, 2008 11:30am Sep 11, 2008 11:30am
Quoting nAVIN2007
what platform are u using bro..
DealBook 360
  • #87,402
  • Sep 11, 2008 12:26pm Sep 11, 2008 12:26pm
MNI - 9/11/2008 1:13:00 PM - DOLLAR INDEX

DOLLAR INDEX: Techs from Stone and McCarthy`s Michael Sacchitello; The dollar remains in a "mega-overbought" situation where price and oscillators both overstay their welcome after long-term downtrends decompress. Although recent COT extremes support gold and resist the dollar this information can often come with a lag. For now don`t fight the trend but be ready to adjust expectations below 79.00.

Resistance
82.13 100% projection
81.65 50% of the Nov `06 - Mar `08 down-leg
80.38/.26 Dec `04 corrective bottom top Bollinger band

Current level: 80.18
79.36 23.6% of the 08/21L - 09/11H
79.00 key intra-day pivot exp. 9-DMA

Support78.71 38.2% of the 08/21L - 09/11H
  • #87,403
  • Sep 11, 2008 12:29pm Sep 11, 2008 12:29pm
Bon jovi trainee-billionaires !

Just sold my oil and mining shares then bought similar but even better companies in the same sectors. This crystallizes my losses to set against my realised profits for the year - thus wiping out my tax liability while maintaining my sector positions

Carrying current losses though - so come on the world and get busy ! They have stopped making uranium/copper/oil so I should get a nice return within 3 years or so - if not , sod it, I will buy a cottage in Cornwall and fly my kite every day and flick pebbles at basking sharks

ok lets get to grips with forex

I refuse to go against the trend - I know there will be significant retraces, but I see these as a selling opportunity when they have run their course rather than a high probability retrace trade

My days of trying to be clever and ride the retracements (either way) are long over

At least with trend following, you can get your money back eventually as long as the trend sticks, even if the retrace carries on further than estimated


The whole ethos behind forex trading is that trends are not transient and carry on for months or years. If we lose sight of that then what can we hang on to ? technical analysis ? ok up to a point - but in reality, all we have is the trend and the only technical analysis which is absolutely crucial, is detecting when the LONG TERM trend has changed

ok I look at the hourly or daily charts - anyone confused as to what the trend is ?

The ape creatures of the Indus could figure out the trend at a glance right now
  • #87,404
  • Sep 11, 2008 12:33pm Sep 11, 2008 12:33pm
Quoting allserene
...
The ape creatures of the Indus could figure out the trend at a glance right now

Just digging in the trenches like everyone else!
  • #87,405
  • Sep 11, 2008 12:43pm Sep 11, 2008 12:43pm
Quoting allserene

The ape creatures of the Indus could figure out the trend at a glance right now
Leave me out of this!
USD Est Non Mortuus
  • #87,406
  • Sep 11, 2008 12:47pm Sep 11, 2008 12:47pm
Quoting eohater
  • #87,407
  • Sep 11, 2008 1:05pm Sep 11, 2008 1:05pm
Quoting eohater
please DON'T copy my trades I am still learning
  • #87,408
  • Sep 11, 2008 1:20pm Sep 11, 2008 1:20pm
ps don't listen to me - I have all my USD cash on deposit at washington mutual !

It's within FDIC limits but if this thing goes bust it will take them my remaining life span+1 day to pay out

hum

think i will go and get my booze money out quickly - then go to the State Owned liquor store - the only source of legal gin in washington state

safety harbor, florida you are pulling on my heartstrings - wait patiently - I won't be long now
  • #87,409
  • Sep 11, 2008 1:25pm Sep 11, 2008 1:25pm
Quoting allserene
ps don't listen to me - I have all my USD cash on deposit at washington mutual !

It's within FDIC limits but if this thing goes bust it will take them my remaining life span+1 day to pay out

hum

think i will go and get my booze money out quickly - then go to the State Owned liquor store - the only source of legal gin in washington state

safety harbor, florida you are pulling on my heartstrings - wait patiently - I won't be long now
at the rate im going im making enough money to buy my chicken burgers..and thats it.....
  • #87,410
  • Sep 11, 2008 1:32pm Sep 11, 2008 1:32pm
Quoting allserene
ps don't listen to me - I have all my USD cash on deposit at washington mutual !

It's within FDIC limits but if this thing goes bust it will take them my remaining life span+1 day to pay out

hum

think i will go and get my booze money out quickly - then go to the State Owned liquor store - the only source of legal gin in washington state

safety harbor, florida you are pulling on my heartstrings - wait patiently - I won't be long now

Gin is the devil!!! Which is why we are good friends. Hows life on the other side of the pond?
Just Trade It
  • #87,411
  • Sep 11, 2008 1:53pm Sep 11, 2008 1:53pm
Quoting Big Wave Rider
Gin is the devil!!! Which is why we are good friends. Hows life on the other side of the pond?
Back in Yorkshire for a week next Wednesday after 3 flights....

been in Washington state since April and it has rained once for half an hour !

Can't ride my motorbike as it is 107 degrees in summer, then there is a one month window and then its 20 below !

Last winter I was in central Florida and it was boring, and expensive, but lovely weather and lots of birds and animals. There is nothing here in the desert. Saw a starling and some migratory robins yesterday but I have been here 6 months and out in the country every day and I haven't seen a rabbit or a squirrel and only a couple of sparrows - just deer, equally bored and trying to throw themselves in front of my car to end it all. Deserts bad, greenery good. In Florida I had 10 squirrels which ate out of my hand - I trained em to sit up in between trading sessions and each had a name. I had a five foot tall egret which met me at the door and i gave it bits of tuna out of my sandwich.

Yep I think it's going to be Florida

Blackburn, Lancashire has seen the last of me after that 6 month stint there last year - never again under any circumstances - I won't even drive through it - that is the pits of the world and I have been all over. It makes Bradford, Yorkshire look like the garden of eden (which it ain't). In Blackburn, the only fish and chips are from Chinese restaurants who fry it in the same oil as spring rolls !!! Bring back hanging for that - but not lesser crimes like murder !
  • #87,412
  • Sep 11, 2008 1:58pm Sep 11, 2008 1:58pm
going short at 3070
  • #87,413
  • Sep 11, 2008 2:01pm Sep 11, 2008 2:01pm
Quoting l6pp
going short at 3070

hmmmm....my broker doesn't have that price
Just digging in the trenches like everyone else!
  • #87,414
  • Sep 11, 2008 2:03pm Sep 11, 2008 2:03pm
wrong place sry
  • #87,415
  • Sep 11, 2008 2:03pm Sep 11, 2008 2:03pm
Quoting allserene
Back in Yorkshire for a week next Wednesday after 3 flights....

been in Washington state since April and it has rained once for half an hour !

Can't ride my motorbike as it is 107 degrees in summer, then there is a one month window and then its 20 below !

Last winter I was in central Florida and it was boring, and expensive, but lovely weather and lots of birds and animals. There is nothing here in the desert. Saw a starling and some migratory robins yesterday but I have been here 6 months and out in the country every day and I haven't seen a rabbit or a squirrel and only a couple of sparrows - just deer, equally bored and trying to throw themselves in front of my car to end it all. Deserts bad, greenery good. In Florida I had 10 squirrels which ate out of my hand - I trained em to sit up in between trading sessions and each had a name. I had a five foot tall egret which met me at the door and i gave it bits of tuna out of my sandwich.

Yep I think it's going to be Florida

Blackburn, Lancashire has seen the last of me after that 6 month stint there last year - never again under any circumstances - I won't even drive through it - that is the pits of the world and I have been all over. It makes Bradford, Yorkshire look like the garden of eden (which it ain't). In Blackburn, the only fish and chips are from Chinese restaurants who fry it in the same oil as spring rolls !!! Bring back hanging for that - but not lesser crimes like murder !

Funny, I'm going back home to the states in a few weeks. (first time in two years) Going to Florida to see my sister and then a few other states to see other relatives. All ready looking forward to my return trip back to Switzerland. I just love it here. (it's not really vacation when you have to see family)
Just Trade It
  • #87,416
  • Sep 11, 2008 2:13pm Sep 11, 2008 2:13pm
Quoting l6pp
wrong place sry
No worries man what price did you get in at?
Just digging in the trenches like everyone else!
  • #87,417
  • Sep 11, 2008 2:20pm Sep 11, 2008 2:20pm
eur/usd 15m channel up...
  • #87,418
  • Sep 11, 2008 2:21pm Sep 11, 2008 2:21pm
went long at 3938
  • #87,419
  • Sep 11, 2008 2:29pm Sep 11, 2008 2:29pm
Quoting Big Wave Rider
Funny, I'm going back home to the states in a few weeks. (first time in two years) Going to Florida to see my sister and then a few other states to see other relatives. All ready looking forward to my return trip back to Switzerland. I just love it here. (it's not really vacation when you have to see family)
passed thru bottom part of switzerland on my way to south of france on my motorbike - they charged me a year's road tax on my motorbike and i was only in the country a couple of hours ! Swiss financial wizards indeed.

I have had it with big city england, but watching basking sharks in cornwall last year was beautiful as is north yorkshire

right - off to get my dosh out of WAMU just in case the FDIC take their time freeing up funds !

Come on euro and cable - let some air out of your tyres (tires)
  • #87,420
  • Sep 11, 2008 3:07pm Sep 11, 2008 3:07pm
hey everyone!... hope all had a good day on the charts... wonder if anyone is setting up right now for anything? I see potential Long if it passes 8MA. Then adventually setting up for another short to test bottom. Key for my would be making sure to find a good exit spot before the weekend seeing that market openings after the weekend have been a 50/50 stab.
Lets do this...
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