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Cable Update (GBPUSD)

  • #89,341
  • Sep 26, 2008 11:26am Sep 26, 2008 11:26am
We are still inside the h4 channel making higher highs and higher lows.... Also we should keep the monthly chart in the back of our minds.... The month closes on Tuesday so it should be interesting between now and then...
The weekly chart is looking very bearish atm however....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h4.GIF Size: 31 KB
Click to Enlarge Name: month.GIF Size: 20 KB
Patience + Discipline - Greed = Success
  • #89,342
  • Sep 26, 2008 11:28am Sep 26, 2008 11:28am
We don't.That is the trick.We are only trying to be in write direction.If you are in bear camp you will hope for down if you are in bull then up.Big player will make choice for themself as well.So...

It is just like you go long somebody else is always for short.We see things in difrent way.

And in the end maybe no gap at all.
  • #89,343
  • Sep 26, 2008 11:34am Sep 26, 2008 11:34am
Quoting "expert"
We don't.That is the trick.We are only trying to be in write direction.If you are in bear camp you will hope for down if you are in bull then up.Big player will make choice for themself as well.So...

It is just like you go long somebody else is always for short.We see things in difrent way.

And in the end maybe no gap at all.
O.K tnx, I thought, that you know something more then me . Last question - why is something like GAP???
  • #89,344
  • Sep 26, 2008 11:54am Sep 26, 2008 11:54am
New record - had two banks fail on me in one week !

HBOS was saved at the last moment and being bought out - now WAMU is getting broken up/taken over. I am moving my wad to HSBC so just watch that go belly up next. Compensation on channel islands/Isle of man deposits is peanuts which never used to matter - so moving dosh back to UK for at least some compo. Its come to something when I have to scramble like this on a daily basis just to keep CASH safe !

GBP is due for a header as the euphoria over the miraculous USA bailout is completed. This could only have been done in 'the finest country in the history of the world' (Quote mutt romney)

Reality sets in next week when anything can happen
  • #89,345
  • Sep 26, 2008 11:56am Sep 26, 2008 11:56am
gap is just a jump in price one way or another.
the cause can be a couple things.

1) over the weekend there can be some trading and that will not show up on most brokers feeds so when they open the new price will be different than the close from friday...causing a gap.

2) it can also be caused by a jump in price due to news or high volume trading. in candle stick reading it's referred to as a "window". The direction of that window usually defines the direction of the trend. usually it's a new trend.

the weekend gap isn't considered the new direction however. it may or maynot. but lately there has been a lot of news and info going on from all the US money problems and that has been causing a big gap in the market upon open. but if you go back on your charts and look at weekend gaps, you will find that often the price action will return to it's previous trend.

hope that helps
  • #89,346
  • Sep 26, 2008 11:59am Sep 26, 2008 11:59am
Quoting allserene
New record - had two banks fail on me in one week !

HBOS was saved at the last moment and being bought out - now WAMU is getting broken up/taken over. I am moving my wad to HSBC so just watch that go belly up next. Compensation on channel islands/Isle of man deposits is peanuts which never used to matter - so moving dosh back to UK for at least some compo. Its come to something when I have to scramble like this on a daily basis just to keep CASH safe !

GBP is due for a header as the euphoria over the miraculous USA bailout is completed. This could only have been done in 'the finest country in the history of the world' (Quote mutt romney)

Reality sets in next week when anything can happen

nice quote... i like it.
don't forget too that there is a lot of financial unrest happening in the UK as well. I have a friend that lives there and he's telling me it's looking scary. Apparently they have never seen a recession like what's coming their way.

is anybody here from the UK that can fill us in on the details?
  • #89,347
  • Sep 26, 2008 12:02pm Sep 26, 2008 12:02pm
Quoting dakrusha
gap is just a jump in price one way or another.
the cause can be a couple things.

1) over the weekend there can be some trading and that will not show up on most brokers feeds so when they open the new price will be different than the close from friday...causing a gap.

2) it can also be caused by a jump in price due to news or high volume trading. in candle stick reading it's referred to as a "window". The direction of that window usually defines the direction of the trend. usually it's a new trend.

the weekend gap isn't considered the new direction however. it may or maynot. but lately there has been a lot of news and info going on from all the US money problems and that has been causing a big gap in the market upon open. but if you go back on your charts and look at weekend gaps, you will find that often the price action will return to it's previous trend.

hope that helps
Helps a lot . best tnx
  • #89,348
  • Sep 26, 2008 12:37pm Sep 26, 2008 12:37pm
I close my long with 0 pips. Opened short 1.8381. I see on 1H Chart Doji looks like Evening Star. What do you things guys ? TP 1.8280???
  • #89,349
  • Sep 26, 2008 12:38pm Sep 26, 2008 12:38pm
Quoting Infinity
We are still inside the h4 channel making higher highs and higher lows.... Also we should keep the monthly chart in the back of our minds.... The month closes on Tuesday so it should be interesting between now and then...
The weekly chart is looking very bearish atm however....
Nice!
Just digging in the trenches like everyone else!
  • #89,350
  • Sep 26, 2008 12:42pm Sep 26, 2008 12:42pm
Quoting dakrusha
nice quote... i like it.
don't forget too that there is a lot of financial unrest happening in the UK as well. I have a friend that lives there and he's telling me it's looking scary. Apparently they have never seen a recession like what's coming their way.

is anybody here from the UK that can fill us in on the details?
I came back from the UK 2 days ago:

oceans of houses for sale but at near fullprice so they just are not selling

rented a tiny car and it was 104 dollars to fill it with petrol and it wasnt even empty !

Food etc sky high like the US

Utilities costs crazy high

Basically it's the same picture as the US but with MUCH more of the economy based on financial services - scary

I reckon it's credit cards that will cause the next scream - what will the govt do then ? buy credit card debt ?
  • #89,351
  • Sep 26, 2008 12:48pm Sep 26, 2008 12:48pm
Long at 1.8397
  • #89,352
  • Sep 26, 2008 12:50pm Sep 26, 2008 12:50pm
Quoting junior1974
I close my long with 0 pips. Opened short 1.8381. I see on 1H Chart Doji looks like Evening Star. What do you things guys ? TP 1.8280???
I think your long was a better position and looking at the current price you should agree. Friendly advice: Your overtrading this for a Friday.
Just digging in the trenches like everyone else!
  • #89,353
  • Sep 26, 2008 12:52pm Sep 26, 2008 12:52pm
Good Weekend

Cable try to broke 1.8469 but couldn't till now is fibo line 38.2

from fall 2.0152 to 1.7436

watch chart carefully
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 11 KB
  • #89,354
  • Sep 26, 2008 12:55pm Sep 26, 2008 12:55pm
Quoting junior1974
I close my long with 0 pips. Opened short 1.8381. I see on 1H Chart Doji looks like Evening Star. What do you things guys ? TP 1.8280???
I dont belive this shit.... Just close with 0 pips and market rush with 25 pips up
  • #89,355
  • Sep 26, 2008 1:33pm Sep 26, 2008 1:33pm
Quoting junior1974
I close my long with 0 pips. Opened short 1.8381. I see on 1H Chart Doji looks like Evening Star. What do you things guys ? TP 1.8280???
you'll have to hang on to this until next week at the volume trading right now.
you don't want to do that..
  • #89,356
  • Sep 26, 2008 1:36pm Sep 26, 2008 1:36pm
Quoting dakrusha
you'll have to hang on to this until next week at the volume trading right now.
you don't want to do that..
I've already opened short 1.8381, now is minus 40 pips and looks bad)
  • #89,357
  • Sep 26, 2008 1:40pm Sep 26, 2008 1:40pm
Quoting junior1974
I've already opened short 1.8381, now is minus 40 pips and looks bad)
Hope DJIA is going up, then GBP is down
  • #89,358
  • Sep 26, 2008 1:41pm Sep 26, 2008 1:41pm
Quoting junior1974
I've already opened short 1.8381, now is minus 40 pips and looks bad)
you really need to consider the volume when you make trades and consider your target. If you're going to trade in low volume and you want a big target then you better expect to wait hours sometimes. otherwise set smaller targets and build confidence and cash.

especially right now. US is sitting in a huge financial problem and there isn't a lot happening right now in all the markets because of it, plus, there is no more trading globally once NY closes today so it will be slow until the last half hour when you start to see profit taking and people closing positions before the weekend.
  • #89,359
  • Sep 26, 2008 1:46pm Sep 26, 2008 1:46pm
Quoting junior1974
Hope DJIA is going up, then GBP is down
for what it's worth, you should be able to close your position in the 390's, but i'm not convinced that i will return to your entry.
  • #89,360
  • Sep 26, 2008 1:49pm Sep 26, 2008 1:49pm
Quoting dakrusha
you really need to consider the volume when you make trades and consider your target....
Oh so true! I personally don't like to trade after Noon NY Time on Fridays. All the US Traders like to close the majority of their positions out by this time and head out for the weekend. So instead of trading after noon on Fridays.....I PARTY
Just digging in the trenches like everyone else!
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