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Cable Update (GBPUSD)

  • #100,121
  • Nov 21, 2008 7:12am Nov 21, 2008 7:12am
Quoting alcando
Well, we may may see USD weakening but I don't really see the return of GBP to a position of strength until we find a new "bubble". I don't see it retracing more than 38.2% of this big slide as there are still weak fundamental issues in the UK. I do agree tho that there has to be a limit to the cable slide but it could be as the analysts are forecasting 1.28 IMO if we reach that level there will be shedloads of profit taking and we will bounce quite spectacularly. For me it's ride or slide... I shalt follow...
but let's say they decide that they will introduce the amero, alot of people, banks etc may start to dump the dollar and regardless of what UK is like it may fly. But you are right wherever she goes I will try and follow.
please DON'T copy my trades I am still learning
  • #100,122
  • Nov 21, 2008 7:13am Nov 21, 2008 7:13am
Quoting nAVIN2007
damnit i went short and SL is 200 pips away and i think since the high is broken im scewed
where did you go short which price yo
When life gives you lemons, make lemonade
  • #100,123
  • Nov 21, 2008 7:16am Nov 21, 2008 7:16am
Quoting spintrader
Hey all,
hope everyone's having a successful end to the week.
I've been giving a lot of thought to the dollar strength lately, trying to come to a conclusion as where it's going.

Out of interest, what do people think?
Is the dollar rally running out of steam? Are we seeing the start of a dollar sell-off, or is this just a temporary calm before the final storm?

Just a couple of weeks ago, I was convinced that we'd see 1.3xx, but the nearer we get, the less sure I am.
hey man, i still see the daily target 1.4435 and the weekly 1.43 but it might take some time for that because i am seeing it running out of steam... it will take time, we'll see what will happen
When life gives you lemons, make lemonade
  • #100,124
  • Nov 21, 2008 7:17am Nov 21, 2008 7:17am
no evidence whatsoever yet to short, waiting for a bearish engulfing on the hourly charts to go short
When life gives you lemons, make lemonade
  • #100,125
  • Nov 21, 2008 7:18am Nov 21, 2008 7:18am
Quoting micho
hey man, i still see the daily target 1.4435 and the weekly 1.43 but it might take some time for that because i am seeing it running out of steam... it will take time, we'll see what will happen
i agree i see that target as a possibility too
  • #100,126
  • Nov 21, 2008 7:19am Nov 21, 2008 7:19am
Quoting ezmystic
but let's say they decide that they will introduce the amero, alot of people, banks etc may start to dump the dollar and regardless of what UK is like it may fly. But you are right wherever she goes I will try and follow.
If, and that's an incredibly huge "if", they introduce the amero, it won't happen within the next decade. The US cannot risk further destabilising the confidence in the dollar, as the consequences of their creditors dumping Treasuries or refusing to participate in future auctions would be catastrpohic. Long term interest rates would soar, dollar would weaken and inflation would strangle the economy, as the prices of commodities rocket.
  • #100,127
  • Nov 21, 2008 7:31am Nov 21, 2008 7:31am
Quoting gammase1
Look at the vicious downtrend in crude oil over the past few months, where it has gone from $147 to under $50 a barrel....
your right "can't" was probably to harsh a word, anything is possible at the moment.

Oil is playing a major part in the currency markets today it just surged to $50 and then ran into a brick wall for now
  • #100,128
  • Nov 21, 2008 7:32am Nov 21, 2008 7:32am
Quoting gammase1
If, and that's an incredibly huge "if", they introduce the amero, it won't happen within the next decade. The US cannot risk further destabilising the confidence in the dollar, as the consequences of their creditors dumping Treasuries or refusing to participate in future auctions would be catastrpohic. Long term interest rates would soar, dollar would weaken and inflation would strangle the economy, as the prices of commodities rocket.
I would say you will not see an Amero in my lifetime and I am 50. There are too many people in power who would die before they saw a Euro type currency. I can also tell you having just traveled to Egypt and Jordan that the dollar is stronger than ever and getting stronger. I will say what will hurt the dollar is economic irresponsibility that we have seen in the last months. At some point the dollar will lose value just based on the fact that we have so much more promised out than is coming in. We can't just keep printing it.
Zone Breakout Method
  • #100,129
  • Nov 21, 2008 7:33am Nov 21, 2008 7:33am
I have closed my short at 980 but I am reluctant to consider a long from here and during the US start even tho I think it will go up. The US just provides such spectacular market collapses that I am waiting for a good short with Micho.
Ride the Bulls bearback!
  • #100,130
  • Nov 21, 2008 7:34am Nov 21, 2008 7:34am
Quoting PowerTrader
I would say you will not see an Amero in my lifetime and I am 50. There are too many people in power who would die before they saw a Euro type currency. I can also tell you having just traveled to Egypt and Jordan that the dollar is stronger than ever and getting stronger. I will say what will hurt the dollar is economic irresponsibility that we have seen in the last months. At some point the dollar will lose value just based on the fact that we have so much more promised out than is coming in. We can't just keep printing it.
Agree 100%
  • #100,131
  • Nov 21, 2008 7:34am Nov 21, 2008 7:34am
Quoting nAVIN2007
i agree i see that target as a possibility too
I beg to defer.
This baby will go north soon.
We'll see 1.5200
  • #100,132
  • Nov 21, 2008 7:42am Nov 21, 2008 7:42am
My short got stopped out +2
Patience + Discipline - Greed = Success
  • #100,133
  • Nov 21, 2008 7:45am Nov 21, 2008 7:45am
Quoting Infinity
My short got stopped out +2
sorry bro...I'm still long from 4750....
Just digging in the trenches like everyone else!
  • #100,134
  • Nov 21, 2008 7:45am Nov 21, 2008 7:45am
I took the same short again at 15055. Just want 25 if it doesn't go down.
Quoting Infinity
My short got stopped out +2
Ride the Bulls bearback!
  • #100,135
  • Nov 21, 2008 7:47am Nov 21, 2008 7:47am
Quoting eohater
sorry bro...I'm still long from 4750....
Great work bro!
Patience + Discipline - Greed = Success
  • #100,136
  • Nov 21, 2008 7:49am Nov 21, 2008 7:49am
Quoting eohater
sorry bro...I'm still long from 4750....
  • #100,137
  • Nov 21, 2008 7:49am Nov 21, 2008 7:49am
Quoting alcando
I took the same short again at 15055. Just want 25 if it doesn't go down.
I wasn't at the computer when it happened but not a problem...I don't have to trade today..
Patience + Discipline - Greed = Success
  • #100,138
  • Nov 21, 2008 7:50am Nov 21, 2008 7:50am
Quoting Infinity
Great work bro!
lucky bro...i carried it over from yesterdays US session..sl 4690 and went to bed....woke up to green....

looking for pullback to 15m 35/50 for more soldiers and SL will be 40 pips lower than my additional troops price
Just digging in the trenches like everyone else!
  • #100,139
  • Nov 21, 2008 7:51am Nov 21, 2008 7:51am
That's ok then. Your viewpoints help us so stay at the PC.

Quoting Infinity
I wasn't at the computer when it happened but not a problem...I don't have to trade today..
Ride the Bulls bearback!
  • #100,140
  • Nov 21, 2008 7:51am Nov 21, 2008 7:51am
bearish diverence building on 1hr.....70/30
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