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Cable Update (GBPUSD)

  • #89,041
  • Sep 25, 2008 9:26am Sep 25, 2008 9:26am
1.8350 maybe, thats what the fibs say...
  • #89,042
  • Sep 25, 2008 9:27am Sep 25, 2008 9:27am
Quoting Optimum
usa data bad
But Why is it falling down?
really bad !

Sometimes, when it looks like thye sky is falling all over the world, the market runs to a 'reserve currency', the USD - hah dont make me laugh

thats just one excuse they make up after the move

In fact, news and fundies are sometimes ignored and sometimes crucial- but we don't know when the rules change

If we did, it would be just too easy

I reckon there will be a big pop for the USD when they triumphally announce total agreement on a plan that it just so wonderful it makes me so admiring of 'them'

They will do this friday pm eastern - at the last moment to save the world and the universe - they are like children

What is happening now is simply advance positioning for that

Thats what I reckon anyway
  • #89,043
  • Sep 25, 2008 9:29am Sep 25, 2008 9:29am
Here is what I am seeing....

The 50% fibo (on the daily's) off the high in the 9850 area on 8/1/08 has been touched around 8660... Will it test it again for a tripple top? I am considering 8330 two days ago and 8360 today and the double top.

9850 is the area the 200 and 50 ema's where confirmed as broken on 8/01/08.

8610 is the 50 ema at the present,,,down from 8650 area several days ago
To me this represents strong resistance between 8600 & and 8660... any sustained break above we should see the .618 around 8930. If 8650 holds, which seems likely, then a downtrend should start possibly by next week. Until then I think we will continue to range.

Fundamentally the U.S. news was poor as expected however CNBC is reporting the bail-out plan is all but passed.

If it is perceived by the world that the U.S. is taking the correct steps to avoid a GLOBAL recession then the dollar should strengthen and the downtrend resume.
  • #89,044
  • Sep 25, 2008 9:30am Sep 25, 2008 9:30am
i long at 1.8440
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,045
  • Sep 25, 2008 9:32am Sep 25, 2008 9:32am
Quoting Qu|cksilver
i long at 1.8440
Closed with 21 pip.
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,046
  • Sep 25, 2008 9:33am Sep 25, 2008 9:33am
what do u think Long or Short ?????????
  • #89,047
  • Sep 25, 2008 9:33am Sep 25, 2008 9:33am
T1 = +0 pips

T2 = +50 pips
  • #89,048
  • Sep 25, 2008 9:34am Sep 25, 2008 9:34am
Quoting Mr.Money
what do u think Long or Short ?????????
stay out until 700 billion approved.
"Invest With The Insiders, Not The Masses" George Muzea
  • #89,049
  • Sep 25, 2008 9:35am Sep 25, 2008 9:35am
There will be a ton of euphoria that the US has ridden in to save the world and the dollar will pop up..

Long live the 7th cavalry

Long live batman

Baddies zero, US 10

Next week the news will just get worse

I am digging in for the UNAVOIDABLE recession - it's too late to stop it
  • #89,050
  • Sep 25, 2008 9:40am Sep 25, 2008 9:40am
Quoting allserene
There will be a ton of euphoria that the US has ridden in to save the world and the dollar will pop up..

Long live the 7th cavalry

Long live batman

Baddies zero, US 10

Next week the news will just get worse

I am digging in for the UNAVOIDABLE recession - it's too late to stop it
  • #89,051
  • Sep 25, 2008 9:45am Sep 25, 2008 9:45am
i have no belief in that the usd will strengthen because that the market will look upon US as their savior. The market is still a market, where the simple rules of supply and demand still counts. The US will also be a lot better off with a cheaper USD.
  • #89,052
  • Sep 25, 2008 9:46am Sep 25, 2008 9:46am
Quoting Shilva
Here is what I am seeing....
Nice analysis!
Just digging in the trenches like everyone else!
  • #89,053
  • Sep 25, 2008 9:48am Sep 25, 2008 9:48am
Quoting JuniorTrader
i have no belief in that the usd will strengthen because that the market will look upon US as their savior. The market is still a market, where the simple rules of supply and demand still counts. The US will also be a lot better off with a cheaper USD.
i have a different view actually, a stronger usd is the most needed now to stop bankruptcies, weaker doller helped these crisis to start
I recommend you read something else as this sentence is now concluded.
  • #89,054
  • Sep 25, 2008 9:49am Sep 25, 2008 9:49am
Quoting Qu|cksilver
Closed with 21 pip.
way to go

did you have a buy order set there and if so how did you know?
  • #89,055
  • Sep 25, 2008 9:54am Sep 25, 2008 9:54am
Quoting ddblue
I'm also caught in a hedge and it sucks =-/
tell me about it!! ... i had a real bad experince in hedging to try to stop my losses and to close some positions later and that was caused because i dont want to give up the losses (greedness) but later i ask myself, if im able to know when to close positions this means that im also able to take new positions at those levels, soo right now i no longer hedge unless im taking a long-term position and small trends are happening so i hedge to increase my profits
I recommend you read something else as this sentence is now concluded.
  • #89,056
  • Sep 25, 2008 9:55am Sep 25, 2008 9:55am
Quoting Shilva
way to go

did you have a buy order set there and if so how did you know?
the trendline. my theory when price hit trendline for the 3rd time price will bounce or retrace.
Attached Image (click to enlarge)
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"Invest With The Insiders, Not The Masses" George Muzea
  • #89,057
  • Sep 25, 2008 9:56am Sep 25, 2008 9:56am
Think long?
Here, bottom?
  • #89,058
  • Sep 25, 2008 10:00am Sep 25, 2008 10:00am
Quoting Shilva
Here is what I am seeing....

The 50% fibo (on the daily's) off the high in the 9850 area on 8/1/08 has been touched around 8660... Will it test it again for a tripple top? I am considering 8330 two days ago and 8360 today and the double top.
Hi, I am struggling with the relevance of that 9850top from which you have a fib drawn...it really idoesn't appear to be a swing of any relevance. As I see it, the main swings of the move down from 0157 swing hi (beinning of this down trend) are 0157-7447, 8795-7447 (of which all fib retraces to 76.4% are alraedy breeched.) , Then a couple of longer term swings from the 2.1162 hi late last year, ie 1162-7447 and 0836-7447.
ex member
  • #89,059
  • Sep 25, 2008 10:01am Sep 25, 2008 10:01am
Quoting Qu|cksilver
stay out until 700 billion approved.
QS, when do you think this DEAL Or No DEAL come out ?
I Deeply Love My Virtual Life In Virtual World , RLC
  • #89,060
  • Sep 25, 2008 10:01am Sep 25, 2008 10:01am
to wat level da market will go in next few hours?
can any one guide me plz? im new to forex
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