Cable Update (GBPUSD)

yes possibly 1hr looking bearish if it can close that way

Hi there nAVIN. how are you doing. I havnt posted much lately, though I have been reading the thread every day. Also I have not been doing any trading because I had too many losses in a row and I didnt want to take my account back to where I had slowly managed to recover from. So lots more reading and further education but every day that I looked at the charts over the last 3 weeks I sooo wish that I had been trading.( Dont the trades just scream out at you with direction and entry and exit points when reviewing them at the end of the day )
What I would like to say nAV is that I am looking forward to reading your posts when your trades are coming in like Eo's, expert or Infinity.
I'm sure you have it in you as I am always impressed with your analysis and knowledge on forex. So go nAV gooooo

Bullish close.
Above pivot

thx man..
im like yourself i took a few losses fairly big, let the hedge go and now i am just trying to get a grip of this market and try and find a tehnique i can rely on...from what i figure out so far.....its all about whether u can map the price out to go in a certain direction...im plaaning to go with alpari where i can trade micro lots..then i will be able to enter and take the chances....and update my journal the idea is to just trade dailly, weekly and monthly and 4hr and 1hr for entry.....i wont look at anything else

i will start soon..i think but thanks man it always encouraging to here
another thing i realise i got to trade diagnal trendlines......its these lines which matter.....they can give fantastic entries with practically no drawdowns

here close below pivot was @ 1.5998 and it close @ 1.5955 below pivot 43 pips

man.. if try with my new alart signal i still, i can still 5-10 pips

Sorry, but it just only for my test.

Got to go to school now. See ur tomorrow. Bye n hafe a nice trade.

I used to draw diagonal trend lines all the time. Why did I stop
The trouble with me is that when I pick up on another idea I loose sight of my previous learning instead of encompassing every thing that I have learnt.
Too much drawdown on my trades need to fine tune. Had to exit so many times only to see my trade turn round and go into profit 5 minutes later.
So answer to problem 1) smaller lots 2) larger account or 3) better entry (more pips on the table with option 3, way to go )

Dont know much about ganns which is what expert uses quite a lot so will see if I can get my head round them in the next couple of days
Good luck with your new account when you get it.

Im the same.knew idea comes old is forgetten...then something goes wrong and i end up going back to the old idea...
i think 2 weeks back or maybe last week i was mentioning the fact that we need to make a higher high since the low has been made and a few people were saying....i must be smoking crack.. we only been rising since then .....unbelieveable huh
i guess when it comes down to it we all make the same mistake...main thing is learning to trust yurself..and then postive results can come..good luck buddy with the learning curve, this is one which just increases the more u get into it

http://www.forexfactory.com/attachme...1&d=1225310285

Euro Rises Sharply Vs Dollar; Traders Scarce
NEW YORK (Dow Jones)--The euro soared against the dollar Tuesday in another session of exaggerated currency moves amid reduced market liquidity and a scarcity of traders.
The euro's gains came largely from surging U.S. stock markets ahead of the presidential elections results. This boosted risk appetite in foreign exchange markets, leading to a reduction in the repatriation flows into the dollar seen in previous days.
Strength in the euro was enhanced further by expectations of interest rate cuts by central banks in Europe later this week. Although rate cuts by a central bank would tend to reduce investors' returns on a country's or region's currency, markets have recently been rewarding currencies whose monetary authorities act aggressively to loosen tight lending conditions.
Analysts said the wild currency swings - a year ago a move of one or two U.S. cents during one trading session was considered big - was due to fewer traders on the floors amid continued caution regarding the global financial crisis.
"The market is cleaned out of traders," said Benedikt Germanier, currency strategist at UBS. He said CTAs, or commodity trading advisers, which in earlier months were taking on an bigger role in foreign exchange trading, "are literally absent now."
Low liquidity and a lack of traders buying and selling make it harder to stop a trend toward dollar weakness or strength once it begins.
The low-yielding yen tends to be sold off when stock markets rise, as investors prefer to hold currencies that offer higher yields, such as the Australian or New Zealand dollars.
Both of those currencies outperformed Tuesday. The Aussie was at $0.6966 late Tuesday from $0.6760 late Monday. The New Zealand dollar was at $0.6037 from $0.5900 late Monday.
The Reserve Bank of Australia slashed interest rates by a larger-than-expected 75 basis points to 5.25% Tuesday, and offered a gloomy global economic outlook that they said will cause domestic activity to slump.
The Bank of England and the European Central Bank are expected to follow suit Thursday with additional rate cuts of their own.
Elsewhere, the Brazilian real strengthened against the U.S. dollar Tuesday on news a leading Brazilian exporter had negotiated an agreement with banks over its dollar derivative debts.






so, when BOE ECB cut ir this week, the pound and euro may go up, and if they cut more than expected, it will go up more, is it right?

all the bridges are burnt now it can go down

The 4 hour chart for Cable is showing a crossover up of the 5 sma open/close. The green 22 sma is above the brown 55 sma. Price has broken out upwards of the 5 sma cannel, and is retracing, retesting the breakout level. Candlesticks show a continuation up. The yellow 5 sma close is providing support for now.

Wednesday is triple swap day. We should see bullishness until the rate decision.

The monthly chart shows the one candle momentum indicator pointing up, telling us that the pair will test the 5 sma channel by Thanksgiving.

Risk Aversion would cancel this view.

Since yesterday this baby is lagging behind EU.

I got back and have new 100 pips.Oh my god.I went short 6066.Price bounced from 38 fib and now ranging.On 15 50 ema was good suport for long few times so i add 1 long but just as sculp.I had to try.

When anf if price go below 38 fib i will move SL for short little below 23fib.Strange thing we are still above 1 hr gann (T3 line) and below 4 hr.They are so close now.I never see this before.Soon we will have break on 1 side and that would be my as well.Hope to see down because it will be easyer if we have downtend continue then new on up.Hope to see yelow 61 line soon(tommorow).

well not much from me but...

are you still long.Or have idea to go long

I am riding on my long since posts yesterday

Going to sleep.Got to get up early.I want to see london reaction to election.see ya

If I may ask, what evidence do you have to support this view? Seems to me that with the election tonight and and the expectation of more rate cuts, that's the last thing it will do.
Once again I might add that we are in a strong bearish trend, any bullish activity will, in my opinion, be very brief.