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Cable Update (GBPUSD)

  • #6,701
  • Feb 22, 2007 9:15am Feb 22, 2007 9:15am
Time for scalping?
  • #6,702
  • Feb 22, 2007 9:21am Feb 22, 2007 9:21am
Lost my nerve.. got out.. going Long now
  • #6,703
  • Feb 22, 2007 9:25am Feb 22, 2007 9:25am
Quoting karmostaji
if current 4h candle closes around 9500, we'll have a nice doji and we might see a reversal to upwards..
Trade what you see, not what you think.
  • #6,704
  • Feb 22, 2007 9:27am Feb 22, 2007 9:27am
Quoting cesarnc
[EIA, API INVENTORY OUTLOOK] US weekly petroleum inventory reports are due today around 10.30 EST. Wire surveys call for a rise in crude stocks, virtually no change in gasoline stocks and a large drop in distillate stocks. Estimates center on crude stocks rising 1.2 mln barrels. Estimates for distillates are for a 2.9 mln barrel drop and a 100K rise to 50K barrel drop in gasoline stocks. NYMEX April crude futures are up over $1.50/barrel since last Wednesday's close following US petroleum inventory data. Last week, crude stocks fell against estimates for a rise, distillates fell less than expected and gasoline fell against estimates for a large rise.

Okaaay... is this USD-positive or negative?
oil its screwed i just thought we wont see the 60s level, when yesterday we saw it going NORTH like hell...if u look in weekly chart there still have some upwards fuel, also dailly chart,...well i do expect some bearish movement but we are above 23.6 fibo level 06 high 07 low,...just a little above 10 cents actualy,...if this baby holds in weeks to come, the chances to see the 63,3 level are high, so oil looks medium term bulish, should be bearish to dolar,...or ofcorse not...unless henry start to short it (oil), then i wont doub it...

lets get back to work...
its just money
  • #6,705
  • Feb 22, 2007 9:36am Feb 22, 2007 9:36am
Broader Look

most fellow traders here are "just", solely looking at price and "super profitable" indicators. however, thats NOT the way to go.

OK.

Here is the broader look:

USD Index is currently hovering around 84.5, which is key. Actually, the direction for the USD is set for the upcoming days. USD is being sold for the last 4-5 years, continuously. There has been some consolidation buy-backs in the mean time, such as late 2004 to late 2005, where EUR/USD plunged from 1.36 to 1.16. Broader picture is, USD is sold.


USD is up for another decision time, whether a consolidation will occur, taking EUR/USD down to 1.20s, Gold to 610/630s, Oil down to 40s, etc, or another wave of USD selloff. Looking at all these markets, expectations, USD is on the verge of another decline. USD simply doesn't have any backups currently (Shocker TIC, intermittent "expected" rate hikes vs EU & BoE's rapid hikes, interest in commodities and agriculture), and alot of gangs are lined up right outside the door. USD Index is set to go BELOW the former lows, around 82, Gold set to surge to 730+, Oil to 60+.
  • #6,706
  • Feb 22, 2007 9:37am Feb 22, 2007 9:37am
wow... this day is killing me....

I'm out.... I simply don't know where is it going next.... 8 attempts at 9490 and not one tick at 9489, if I might say.... Then 40 pips up...

That's definitely my call for alcohol...
  • #6,707
  • Feb 22, 2007 9:39am Feb 22, 2007 9:39am
Quoting cesarnc
wow... this day is killing me....

I'm out.... I simply don't know where is it going next.... 8 attempts at 9490 and not one tick at 9489, if I might say.... Then 40 pips up...

That's definitely my call for alcohol...


Will be a USD selloff. 2 cents.
  • #6,708
  • Feb 22, 2007 9:43am Feb 22, 2007 9:43am
Back to Frankfurt open
  • #6,709
  • Feb 22, 2007 9:45am Feb 22, 2007 9:45am
look at a 15m bar chart of gdp/usd, i am sure it is a pinocio setup???
  • #6,710
  • Feb 22, 2007 9:46am Feb 22, 2007 9:46am
scalping... short
  • #6,711
  • Feb 22, 2007 9:46am Feb 22, 2007 9:46am
Oh take me back to 8.30 this morning..

How I would do things differently. LOL
  • #6,712
  • Feb 22, 2007 9:47am Feb 22, 2007 9:47am
I fall for it every time...
  • #6,713
  • Feb 22, 2007 9:50am Feb 22, 2007 9:50am
Quoting Taters
I fall for it every time...
its pretty simple, just dont read the news...
its just money
  • #6,714
  • Feb 22, 2007 9:56am Feb 22, 2007 9:56am
Quoting de123
its pretty simple, just dont read the news...

jajajaja nice comment..
  • #6,715
  • Feb 22, 2007 10:06am Feb 22, 2007 10:06am
Quoting Kanon
look at a 15m bar chart of gdp/usd, i am sure it is a pinocio setup???
Please can you explain Pinocchio?
  • #6,716
  • Feb 22, 2007 10:12am Feb 22, 2007 10:12am
i have read on a thread about the Pinocchio setup, and aat the moment it is making the tweezer setup, i have half an idea what you must look for to identify the setups, i think it will be better if you searched the threads to get the correct info.
  • #6,717
  • Feb 22, 2007 10:13am Feb 22, 2007 10:13am
Quoting goonergonebad
Please can you explain Pinocchio?
pin-bar....

I don't like to trade 15M pin-bars... It usually shows continuation afterwards...

1H and 4H are trustworthy, though.
  • #6,718
  • Feb 22, 2007 10:14am Feb 22, 2007 10:14am
go to 431 cable update...FOR PIN teory

but dont know if thats a pin or not...i dont give a dam actually since i am done today....

Fundamentals rules guys....lol....what about that one....nice too right ?
its just money
  • #6,719
  • Feb 22, 2007 10:20am Feb 22, 2007 10:20am
Grabbed a few pips back in this upwards move.... Loser day though...

I just cant stand this feeling that my head is going to explode since the f'n London session...

Grabbing some manageable loss, calling it a day

Now that mother fucker is going to touch 2.0000... go figure
  • #6,720
  • Feb 22, 2007 10:22am Feb 22, 2007 10:22am
Definitely cocaine is back to Wall Street
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