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Cable Update (GBPUSD)

  • #104,741
  • Dec 5, 2008 10:51am Dec 5, 2008 10:51am
Looks kind of scary on the weekly chart as well we will have to watch this pair it is getting to decision taking area for sure
  • #104,742
  • Dec 5, 2008 10:52am Dec 5, 2008 10:52am
Quoting Shilva
Does anyone else see this set up coming

Head and shoulders formation with a double bottom

Also hitting a TL around 4480

First of next week most likely!

this setup came yesterday at 4500. Im glad you are finally seeing it.

There are so many good setups forming its scary. My brain is so fried from this week i just dont care about them lol
  • #104,743
  • Dec 5, 2008 10:53am Dec 5, 2008 10:53am
Quoting steelhead
There will be at least one buyer here if this thing breaks below 4500.


I will let you all determine that
at least two... should be good for at least 500 pips before the month ends..

There is normally big profit taking at the last half of december and that usually means rallies or declines depending on the direction of the main trend.. in our case, down... so I expect to see a huge rally going into the close of the year and then maybe a resumption of the trend in the new year..
Patience + Discipline - Greed = Success
  • #104,744
  • Dec 5, 2008 10:55am Dec 5, 2008 10:55am
LOL here are the pairs I am seeing in some sort of trend, ( Red is down trend Green is Up trend, and then the time frame for the trend is at the top).
Attached Image (click to enlarge)
Click to Enlarge Name: trending pairs.gif Size: 10 KB
  • #104,745
  • Dec 5, 2008 10:56am Dec 5, 2008 10:56am
Quoting Infinity
at least two... should be good for at least 500 pips before the month ends..

There is normally big profit taking at the last half of december and that usually means rallies or declines depending on the direction of the main trend.. in our case, down... so I expect to see a huge rally going into the close of the year and then maybe a resumption of the trend in the new year..

Infinity you rarely agree with me dont start now lol.
  • #104,746
  • Dec 5, 2008 10:57am Dec 5, 2008 10:57am
Quoting Infinity
at least two... should be good for at least 500 pips before the month ends..

There is normally big profit taking at the last half of december and that usually means rallies or declines depending on the direction of the main trend.. in our case, down... so I expect to see a huge rally going into the close of the year and then maybe a resumption of the trend in the new year..
I am so waiting for that......

Last New Year's Eve it was CHA-MF-CHING!!!!!

Everyone have a great weekend....time to smoke a fatty and party!!

HOLLA
  • #104,747
  • Dec 5, 2008 10:57am Dec 5, 2008 10:57am
Quoting lexazver
where are they gonna get the money ) they sold shit loads of gold reserves at crappy price and now gov't used huge pile of money to sort this whole banking crisis and still ain't getting anywhere if anything low pound will help the exports so im not really convinced by the intervention story.
Like any other country.They will print it and say that they maybe are changing oldones for new apoints.And in this times when they have recesion 1 of the ways to make it work again is to print some money or in other words make inflation a little more up.Now we have deflation.That way the make people more spending and etc...etc...

Dont tell me you didnt see new 10 $ bill lately.I dont live inUS but my friends tell me they did see it a lot.

Every central bank makes her money stability in many ways.It is in intrest og GB to make this GBP fall slower.Imagine they letz it go 1 morning 1,500 and next 1400.And everybody is saying heare that somebody is buying.I see just BOE as someone who have intrest to do so.maybe i am wrong but since i think this way i made big pips per trade.They just need to make this fall slower or panic will do the rest.

Just my thinking.

see ya on monday
  • #104,748
  • Dec 5, 2008 11:03am Dec 5, 2008 11:03am
It didn't go to 1.4774 instead to 1.4574 and pretty soon 1.4674
  • #104,749
  • Dec 5, 2008 11:05am Dec 5, 2008 11:05am
Cable seems to miving up on all the charts right now, but I still think the sentiment is going to stay in a downward pressure at least for awhile
  • #104,750
  • Dec 5, 2008 11:07am Dec 5, 2008 11:07am
Quoting NightMoves
Cable seems to miving up on all the charts right now, but I still think the sentiment is going to stay in a downward pressure at least for awhile
Not in my charts it isn't...
  • #104,751
  • Dec 5, 2008 11:09am Dec 5, 2008 11:09am
It is on the Yen ,Euro,and the USD at the moment
  • #104,752
  • Dec 5, 2008 11:10am Dec 5, 2008 11:10am
All short term moves but they are going the same way
  • #104,753
  • Dec 5, 2008 11:11am Dec 5, 2008 11:11am
This market is just too easy - it moves one way a lot - so i bet the other way

and every time it goes up i whack some shorts on until its back again to where it set off and then i come out

How am I going to get the satisfaction that comes with exercising skill if the market remains this easy ?
  • #104,754
  • Dec 5, 2008 11:12am Dec 5, 2008 11:12am
Quoting "expert"
Like any other country.They will print it and say that they maybe are changing oldones for new apoints.And in this times when they have recesion 1 of the ways to make it work again is to print some money or in other words make inflation a little more up.Now we have deflation.That way the make people more spending and etc...etc...

Dont tell me you didnt see new 10 $ bill lately.I dont live inUS but my friends tell me they did see it a lot.

Every central bank makes her money stability in many ways.It is in intrest og GB to make this GBP fall slower.Imagine...
yeah that is one way, but printing mor money thus creating inflation will make currency less valuable as there was no increase in real goods and services so while this can help in very short term its disastrous for the long term. Anyways long term = dollar collapse ) just not for now.....
  • #104,755
  • Dec 5, 2008 11:15am Dec 5, 2008 11:15am
Quoting steelhead
Infinity you rarely agree with me dont start now lol.
Thats true...lol
Patience + Discipline - Greed = Success
  • #104,756
  • Dec 5, 2008 11:16am Dec 5, 2008 11:16am
Quoting Turtle
I am so waiting for that......

Last New Year's Eve it was CHA-MF-CHING!!!!!

Everyone have a great weekend....time to smoke a fatty and party!!

HOLLA
You know it bro!!
Have a great weekend !!!
Patience + Discipline - Greed = Success
  • #104,757
  • Dec 5, 2008 11:21am Dec 5, 2008 11:21am
Quoting lexazver
yeah that is one way, but printing mor money thus creating inflation will make currency less valuable as there was no increase in real goods and services so while this can help in very short term its disastrous for the long term. Anyways long term = dollar collapse ) just not for now.....
the trick is to print amount of money just you need to make production work again (to make prople buy again ,to make some products wanted again)

If you print more then that and then we have wrong kind of inflation.

We will see did they get wright
  • #104,758
  • Dec 5, 2008 11:22am Dec 5, 2008 11:22am
Quoting lexazver
yeah that is one way, but printing mor money thus creating inflation will make currency less valuable as there was no increase in real goods and services so while this can help in very short term its disastrous for the long term. Anyways long term = dollar collapse ) just not for now.....
trillions of dollars have been taken out of the system by collapsing share prices- wealth destruction

I have had mine destroyed (well the beer money part which is equivalent to the GDP of zanzibar) and I wont be buying the new shoes I was planning for next year

So a few hundred billion wont make up for destroyed money - no inflation - just deflation

Who dare put their prices up next year ? I am off to walmart now for a 4 gig sd card - I have waited for the friday sale to save 2 dollars

The only question is - which currency block will have the highest deflation ?

In the 1930's the UK police got a memo saying their pay was being reduced 25% because they had a safe job - expect more of that in 2009
  • #104,759
  • Dec 5, 2008 11:24am Dec 5, 2008 11:24am
Quoting "expert"
the trick is to print amount of money just you need to make production work again (to make prople buy again ,to make some products wanted again)

If you print more then that and then we have wrong kind of inflation.

We will see did they get wright

Can you maybe explain to my why i should care about all of this.

inflation this inflation that. Printing money bla bla bla.

Charts are my bible in this market not some trumped up news garbage intended to confuse traders
  • #104,760
  • Dec 5, 2008 11:29am Dec 5, 2008 11:29am
I read this morning where 1/3 of the bailout money given to the wall street group has been lost in bad trades again, so I can see that worked really well
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