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Cable Update (GBPUSD)

  • #88,941
  • Sep 24, 2008 7:09am Sep 24, 2008 7:09am
I am seeing a round up on H4 TF...Looking Bullish to me with HH and HL ...and of coz we need a break out above..1.864x level....
  • #88,942
  • Sep 24, 2008 7:10am Sep 24, 2008 7:10am
Quoting deboooo2005
upcoming news ... few minutes will decide
as well as the change in house prices - we need to consider the volume of sales

If they have bottomed and increased volume at a lower price then that's good
  • #88,943
  • Sep 24, 2008 7:15am Sep 24, 2008 7:15am
14:00 US ECON: Aug Existing Home Sales Fall 2.2% to 4.91 mln AR Boston,
September 24. The seasonally adjusted annual rate of existing home sales fell
by 2.2%, surpassing to the downside expectations of a 4.93 mln rate. The July
rate was revised higher to 5.02 mln from 5.00 mln previously reported.
Condo and co-op sales fell by 8.2%, while single-family sales fell only
1.4%. The median sales price took a severe hit, down 3.4% for the month and a
record 9.5% from a year ago.
The supply of unsold homes on the market improved dramatically, however.
The NAR estimates 4.255 mln units were available at the end of August, a 10.4-
month supply. A year ago, the inventory of 4.383 mln units equated to a supply
of 9.6 months. More to follow.
  • #88,944
  • Sep 24, 2008 7:17am Sep 24, 2008 7:17am
http://www.jec.senate.gov/index.cfm?..._id=&Issue_id=

hearing on US eco live
Trading is 80% Emotional, 20% Technical
  • #88,945
  • Sep 24, 2008 7:21am Sep 24, 2008 7:21am
1000000000000000000 videos on youtube made by people who simply hate the bailout idea, but so far, the thing that i cant get is, do those people have another good solution that will work as fast as this one? i mean the system is no longer functioning, i believe that tax payers have caused a big part of this trouble.
I recommend you read something else as this sentence is now concluded.
  • #88,946
  • Sep 24, 2008 7:30am Sep 24, 2008 7:30am
we must wait Crude Oil Inventories
  • #88,947
  • Sep 24, 2008 7:59am Sep 24, 2008 7:59am
Quoting Obaidah
1000000000000000000 videos on youtube made by people who simply hate the bailout idea, but so far, the thing that i cant get is, do those people have another good solution that will work as fast as this one? i mean the system is no longer functioning, i believe that tax payers have caused a big part of this trouble.
I reckon the problem is caused by the people on mega million bonus schemes and the 'self certifying' people at the bottom the economic pile who don't pay tax anyway

If they had produced their 'zero to pay' tax returns they wouldn't have got the mortgages

Middle class people neither promoted these schemes nor were self certifying themselves for mortgages - but they will pick up the bill while the bosses cruise the Bahamas and the poor people throw their keys into the bank and shrug

Only the innocent people will pay -and they will pay double as they are the ones who own bank shares
  • #88,948
  • Sep 24, 2008 9:07am Sep 24, 2008 9:07am
it's safe to short now?
  • #88,949
  • Sep 24, 2008 9:13am Sep 24, 2008 9:13am
Short at 1.8495
  • #88,950
  • Sep 24, 2008 9:19am Sep 24, 2008 9:19am
Quoting salemcity33
Short at 1.8495
agreed, i was in a bit later, 1.8486...
i think this should be good for an easy 60 pips, prob more like 120
  • #88,951
  • Sep 24, 2008 9:20am Sep 24, 2008 9:20am
Quoting sonicdeejay
I love this picture...

Sonic
haha...this needs to be on failblog.org
  • #88,952
  • Sep 24, 2008 9:28am Sep 24, 2008 9:28am
buy now from 1.8485
to 1.8660
stop : 1.8460
  • #88,953
  • Sep 24, 2008 9:52am Sep 24, 2008 9:52am
Quoting adi255
buy now from 1.8485
to 1.8660
stop : 1.8460
amazing spread of long/short opinion right now

the confusion over the 700 bill means anything could happen

I seemed to hear bernanke saying stocks were finished or words to that effect

I am short but only because I have GBP on bank deposit and I am hedging some at this level
  • #88,954
  • Sep 24, 2008 10:16am Sep 24, 2008 10:16am
Quoting allserene
amazing spread of long/short opinion right now

the confusion over the 700 bill means anything could happen

I seemed to hear bernanke saying stocks were finished or words to that effect

I am short but only because I have GBP on bank deposit and I am hedging some at this level
Short may be a good call and then again long could be the correct shout. At the moment I think maybe there is a fair bit of speculation going on and maybe it will be better to let the market decide. In the meantime try and pick some pips off of the highs and the lows in this topsy turvy pair and wait for the break as we know this pair can make. But then thats just my opinion. Good luck.http://www.forexfactory.com/images/icons/icon10.gif
  • #88,955
  • Sep 24, 2008 10:49am Sep 24, 2008 10:49am
Looking for the 1h 50 sma (red line) to hold for another fall. This coincides with the 15m 50 ema (blue line) to hold. Targeting the 50 ema (black line) on the 4h.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 83 KB
Click to Enlarge Name: chart2.JPG Size: 83 KB
Click to Enlarge Name: chart3.JPG Size: 86 KB
Just digging in the trenches like everyone else!
  • #88,956
  • Sep 24, 2008 10:49am Sep 24, 2008 10:49am
Quoting Chris_35
Short may be a good call and then again long could be the correct shout. At the moment I think maybe there is a fair bit of speculation going on and maybe it will be better to let the market decide. In the meantime try and pick some pips off of the highs and the lows in this topsy turvy pair and wait for the break as we know this pair can make. But then thats just my opinion. Good luck.http://www.forexfactory.com/images/icons/icon10.gif
yes i agree it's ready to break

it usually breaks in the direction of the trend but i don't even know where the trend is right now

I reckon the market is waiting for a confirm on the bale out (more like bail out) and then the dollar will rise

They will borrow the 700 bill from the Chinese etc and then buy dollars as they import the funds

thats 2k from everyone in the states (300 mill), and as the bottom half dont pay tax, its 4k from everyone over the poverty line

heck !
  • #88,957
  • Sep 24, 2008 11:08am Sep 24, 2008 11:08am
Quoting allserene
thats 2k from everyone in the states (300 mill), and as the bottom half dont pay tax, its 4k from everyone over the poverty line

heck !
Good point...

You might end up with Wall Street tycoons and your loser neighbor laughing at you in the same day
  • #88,958
  • Sep 24, 2008 11:12am Sep 24, 2008 11:12am
Quoting eohater
Looking for the 1h 50 sma (red line) to hold for another fall. This coincides with the 15m 50 ema (blue line) to hold. Targeting the 50 ema (black line) on the 4h.
nice setup..thx for that. those charts look good.
I entered second short at 1.8521 first entry will "BE" new entry target 1.8440
  • #88,959
  • Sep 24, 2008 11:17am Sep 24, 2008 11:17am
Quoting dakrusha
nice setup..thx for that. those charts look good.
I entered second short at 1.8521 first entry will "BE" new entry target 1.8440
Just digging in the trenches like everyone else!
  • #88,960
  • Sep 24, 2008 11:26am Sep 24, 2008 11:26am
Just a little note to some of the guys in the UK. A thought about your wages as opposed to possible earnings from forex, just in case you havnt done the arithmetic already. A £50k annual income would give you a take home pay of £35,472 p/a
This equates to
1 £136 per day for a five day week over a 52 week period or

2 £154 per day for a five day week over a 46 week period ( 6weeks holiday)

You would of course be subject to Capital Gains tax but not if you were to enter your trades with a spread betting provider

So for a comfortable income with far fewer expenses being paid out, you dont have to try and hit all the big waves. But a steady in out 10 pips per trade profit, 10x a day at .3 lots. So for option 2 variations

300 pips a day at .1 lots
150 pips a day at .2 lots
100 pips a day at .3 lots

Each of these will give you a £50k gross income p/a dependent on exact GBP/USD exchange rate.

Does that seem like hard work to you??

If any of these calcs are a cock up I'm sure you guys will let me knowhttp://www.forexfactory.com/images/icons/icon10.gif
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