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Cable Update (GBPUSD)

  • #89,461
  • Sep 29, 2008 2:55am Sep 29, 2008 2:55am
Quoting emeric33
I know most of you are just watching your charts...ut is there in here anyone that can understand what is happenning?

US just increased it s debt by 700 billions USD...and dollar is getting stronger....seems to me that US is just sinking and that US should sink also..sounds logical to me...USD should go to hell all over the place....

So I guess I don t understand anything about economy....if somebody can give me some kind of logicals explanations, I would be very interested....
Because it's not affecting the US alone, it's affecting UK and Europe too. 2 major financial companies were nationalized - Fortis and Bradford and bingley.

If this was solely a US problem, then yes - you would have seen the dollar get flushed. Right now the global economy looks shaky - so in comparison the $ is relatively a safe haven.. note that I say relatively. If in some time, Europe and UK economies show a turn around, then it would be a great opportunity to go long on those pairs.
  • #89,462
  • Sep 29, 2008 2:56am Sep 29, 2008 2:56am
up baby up
  • #89,463
  • Sep 29, 2008 2:58am Sep 29, 2008 2:58am
It has tumbled nearly 400 pips since friday close.
When will it stop ?
  • #89,464
  • Sep 29, 2008 2:58am Sep 29, 2008 2:58am
Quoting Chris_35
up baby up
wow looks like this is moving down again with full steam....looks like i missed the opportunity again to get out of hedge

but saying this might be the time to drop the short....assuming monthly stay as a doji
  • #89,465
  • Sep 29, 2008 3:01am Sep 29, 2008 3:01am
Quoting "expert"
Still short.Sl is now at 1,8120..But i think we are redy for retrace.But not closing my shorts.Crazy thing is going on so maybe we see 1.7920 area.That would be good for me.
Why 1.7920?
  • #89,466
  • Sep 29, 2008 3:10am Sep 29, 2008 3:10am
If it range i dont care because i take my pips alredy
But i will go to my scalp strategy on 1 min and 5min.Not now.we neeed things to cool down.Maybe in US session
  • #89,467
  • Edited 4:09am Sep 29, 2008 3:11am | Edited 4:09am
but i wouldnt try drop the short and go long as theres no evidence that that wont blow yur account,,,,
  • #89,468
  • Sep 29, 2008 3:19am Sep 29, 2008 3:19am
Sorry did not see post.!.7920 area i have new S/R line theare..But it would be to much for 1 day i think.Imagine that you live in london and in morning you change USD for 1 price and in in afternoon for much more less.That is not possible even in my country any more.That would be major inflation then.I think.I am not some expert in economic but that would be to much for GBP.

Maybe some slow retrace now up to 1.8190 area maybe.But my Sl is still active just in case we go down more.No taking profit yet as i see
  • #89,469
  • Sep 29, 2008 3:23am Sep 29, 2008 3:23am
Quoting nAVIN2007
wow looks like this is moving down again with full steam....looks like i missed the opportunity again to get out of hedge

but saying this might be the time to drop the short....assuming monthly stay as a doji
Hello nAVIN how are you. She went up just enough for me to jump out of trade and I think I will stay out for a while just to observe. No point in trading just to be in a trade ,else I get my fingers burnt.
  • #89,470
  • Sep 29, 2008 3:33am Sep 29, 2008 3:33am
The screenshot shows the hidden divergence in the daily chart in that 8503 swing low- lower swing retrace hi 8795, a case of support becomes resistance (sbr.) The charts clearly indicated it though with this set-up on the daily in that identifiable potential sbr zone.

Will price carry on down for a 'with trend' follow thru below current 7447 lows?? No idea, Lol

G/l
Attached Image (click to enlarge)
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ex member
  • #89,471
  • Sep 29, 2008 3:35am Sep 29, 2008 3:35am
Moving my Sl to 1.8091 and going out a little.Be back soon.Buy guys.
  • #89,472
  • Sep 29, 2008 4:01am Sep 29, 2008 4:01am
Quoting Chris_35
Hello nAVIN how are you. She went up just enough for me to jump out of trade and I think I will stay out for a while just to observe. No point in trading just to be in a trade ,else I get my fingers burnt.

im good bro, i was tempted yesterday to drop the longs but i never since i havent been studdying the market, still in the hedge and just observing for now...im glad to here u made some of the losses back bro....good going
  • #89,473
  • Sep 29, 2008 4:19am Sep 29, 2008 4:19am
Quoting emeric33
I know most of you are just watching your charts...ut is there in here anyone that can understand what is happenning?

US just increased it s debt by 700 billions USD...and dollar is getting stronger....seems to me that US is just sinking and that US should sink also..sounds logical to me...USD should go to hell all over the place....

So I guess I don t understand anything about economy....if somebody can give me some kind of logicals explanations, I would be very interested....
ah we getting a lot of money to play with.. the world wants a peace of the pie so they going to invest in the us.. they looken for opportunity... we like stuff and stuff needs money so we going to get a lot of stuff maken the buck look lovely and we ant doing so bad, just need more credit cards to buy more stuff..
  • #89,474
  • Sep 29, 2008 4:24am Sep 29, 2008 4:24am
Quoting mcfx
ah we getting a lot of money to play with.. the world wants a peace of the pie so they going to invest in the us.. they looken for opportunity... we like stuff and stuff needs money so we going to get a lot of stuff maken the buck look lovely and we ant doing so bad, just need more credit cards to buy more stuff..
Lol, please read my explanation.. the last thing we need is an explanation without any logic.. no offense intended of course. We Americans don't pay much attention to international bank failures, remember when BNP Paribas froze accounts? The carry trades took a massive beating - that was in July 2007 if I remember.

It's always good to be on the watch out for these kind of events - they make superb trades. This one was the easiest because the reports of the UK lender came out yesterday - great opportunity to go short. Since I'm a fundamental trader, I only trade when such crazy things happen - which might be once a month, but oh boy - it's absolutely worth it.
  • #89,475
  • Sep 29, 2008 4:25am Sep 29, 2008 4:25am
Quoting VishalJ
Because it's not affecting the US alone, it's affecting UK and Europe too. 2 major financial companies were nationalized - Fortis and Bradford and bingley.

If this was solely a US problem, then yes - you would have seen the dollar get flushed. Right now the global economy looks shaky - so in comparison the $ is relatively a safe haven.. note that I say relatively. If in some time, Europe and UK economies show a turn around, then it would be a great opportunity to go long on those pairs.
ok but clearly US is the core/origin of the problem...things will be much worse in the US than in Europe...
  • #89,476
  • Sep 29, 2008 4:29am Sep 29, 2008 4:29am
Just closed a trade for a 600 pip loss.

real money

ow.
Do you think the karate kid knows kung-fu?
  • #89,477
  • Sep 29, 2008 4:34am Sep 29, 2008 4:34am
i think our target now 1.7930=61.8
  • #89,478
  • Sep 29, 2008 4:36am Sep 29, 2008 4:36am
Quoting VishalJ
Lol, please read my explanation.. the last thing we need is an explanation without any logic.. no offense intended of course. We Americans don't pay much attention to international bank failures, remember when BNP Paribas froze accounts? The carry trades took a massive beating - that was in July 2007 if I remember.

It's always good to be on the watch out for these kind of events - they make superb trades. This one was the easiest because the reports of the UK lender came out yesterday - great opportunity to go short. Since I'm a fundamental trader, I only trade when such crazy things happen - which might be once a month, but oh boy - it's absolutely worth it.

http://forexfactory.com/images/icons/icon12.gif sorry just playing a bit.. its just nice to see a buzz around here in Portland Oregon. loven it peace
  • #89,479
  • Sep 29, 2008 4:37am Sep 29, 2008 4:37am
Quoting ddblue
Just closed a trade for a 600 pip loss.

real money

ow.
i will give u some advice which i learned the hard way...NEVER have a trade where the SL is this far unless yur target is = or more

it shows your trading on emotions
its better to have plenty of small losses and a big win and this can be done easily (i hope) so long as we enter trades where stops and profits are mechanically placed....if we cant do this then we never EVER will be profitable in forex..this is the reality of this game

im sorry u lost so much
  • #89,480
  • Sep 29, 2008 4:43am Sep 29, 2008 4:43am
Quoting ddblue
Just closed a trade for a 600 pip loss.

real money

ow.
learn money management,
Trading is 80% Emotional, 20% Technical
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