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Cable Update (GBPUSD)

  • #106,381
  • Dec 12, 2008 7:38am Dec 12, 2008 7:38am
updated day chart....

I took profit on my remaining longs at the touch of the blue tl but did not take the short (should have)... anyway, I reloaded longs at the h4 50ema which also coincides with the daily 5sma....... will see what happens on the retest of the line...
Attached Image (click to enlarge)
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Patience + Discipline - Greed = Success
  • #106,382
  • Dec 12, 2008 7:40am Dec 12, 2008 7:40am
Quoting lexazver
conspiracy theories aside here is note from research from one of the banks

Unsurprisingly America’s assets under management have
fallen sharply from almost USD28trn at the end of last year
to USD25.5trn at the end of September. Nevertheless the
assets of US investors still dwarf the reserves of central
banks and sovereign wealth funds as Chart 1 shows.
The ratio of foreign assets in US portfolios has also fallen
this year as Chart 2 shows. Risk aversion has spurred
investor repatriation helping the strong rebound in the USD
since the summer. But...
exactly. if people are looking at fundamentals when considering trades, then they need to get a handle on what is actually happening and forget the wild conspiracy theories. ie) how has the greenback reacted in the past few months following worse than expected exconomic data? why has the dollar appreciated since the summer? answer to both is repatriation of capital from the paring back of riskier overseas assets and unwinding of long commodity positions, as the deleveraging and forced selling takes hold. there has also been a trend for investors to seek refuge in US Treasuries in a so-called flight to quality.
  • #106,383
  • Dec 12, 2008 7:41am Dec 12, 2008 7:41am
Quoting Turtle
What about 5500.......tap that 50ema and take profit!!!!

Anything is possible on a Friday towards end of year...I'm ready either way......

HOLLA
That's very possible bro! The daily 50ema is at 5800 area... that would be sweet....
Patience + Discipline - Greed = Success
  • #106,384
  • Dec 12, 2008 7:42am Dec 12, 2008 7:42am
Quoting steelhead
What a mouth full. Charts my friend charts who gives a flying rabit about that info. Its all in the charts
and i like yours the best. dont really get the deal with indicators, MA's ok i like them but thats about it.
  • #106,385
  • Dec 12, 2008 7:45am Dec 12, 2008 7:45am
Quoting TheDirtySerb
I don't have an answer for you. Just thinking out loud. It just seems like the market can shrug off bad news when it wants to and react when it wants to. We'll see what happens, but what, traders all of a sudden decided the $ is the weakest currency so they're going to sell it against the cad, gbp, euro, etc., based on what? What happened yesterday that was so bad? I can understand if it happened after last weeks NFP, now that was bad, it makes sense. Again, I was just waiting for the data to come out and my mind was wondering, so no proof this...
bullish comments from Russia and Opec re the possibility of severe cuts in production, which gave commodity currencies (AUD + CAD) and the price of crude oil a huge boost against the greenback. the pace of this upmove was accelerated by stops being triggered, causing a classic short-squeeze. also, the upmove was aided by the euro being the flavour of the month, compared to the other majors, due to its yield advantage, with another big cut expected from the Fed next week.

bad economic news has been usd positive, due to repatriation of foreign flows from the boom years etc. also, there has a distinct inverse correlation between dollar strength and performance of equities...
  • #106,386
  • Dec 12, 2008 7:47am Dec 12, 2008 7:47am
Quoting TheDirtySerb
I don't have an answer for you. Just thinking out loud. It just seems like the market can shrug off bad news when it wants to and react when it wants to. We'll see what happens, but what, traders all of a sudden decided the $ is the weakest currency so they're going to sell it against the cad, gbp, euro, etc., based on what? What happened yesterday that was so bad? I can understand if it happened after last weeks NFP, now that was bad, it makes sense. Again, I was just waiting for the data to come out and my mind was wondering, so no proof this...
I agree. And more, I am expecting NY market down, but $ will go up, as usual. Ah?
  • #106,387
  • Dec 12, 2008 7:53am Dec 12, 2008 7:53am
...
Attached Image (click to enlarge)
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  • #106,388
  • Dec 12, 2008 7:56am Dec 12, 2008 7:56am
i cannot believe i stoped using trendlines and yesterday i realised....gotta hav them otherwise its very hard to know what going on

what a twit i can be
  • #106,389
  • Dec 12, 2008 7:58am Dec 12, 2008 7:58am
Quoting Infinity
That's very possible bro! The daily 50ema is at 5800 area... that would be sweet....
5800 that would be
  • #106,390
  • Dec 12, 2008 7:59am Dec 12, 2008 7:59am
Quoting Komissar
I agree. And more, I am expecting NY market down, but $ will go up, as usual. Ah?
$ will go up? you think? hmm lets wait and see.
  • #106,391
  • Dec 12, 2008 8:01am Dec 12, 2008 8:01am
eur penetrated the high just need a close above it and this will take cable with it....but its a strong resistance to break....if it breaks i will definately buy the dips
  • #106,392
  • Dec 12, 2008 8:11am Dec 12, 2008 8:11am
...
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  • #106,393
  • Dec 12, 2008 8:13am Dec 12, 2008 8:13am
oops....
Attached Image (click to enlarge)
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  • #106,394
  • Dec 12, 2008 8:17am Dec 12, 2008 8:17am
At last 1 bullish candle 1H
  • #106,395
  • Dec 12, 2008 8:20am Dec 12, 2008 8:20am
Quoting gagakrimba
At last 1 bullish candle 1H
did u see the reaction of the 1 hr candle when it hit that trendline..euro is rejecting the high...we need to wait now for a break or bearish formation..im out thou..had to much stress last 2 weeks
  • #106,396
  • Dec 12, 2008 8:23am Dec 12, 2008 8:23am
suddenly very volatile
  • #106,397
  • Dec 12, 2008 8:27am Dec 12, 2008 8:27am
Dive!
Dive!
Dive!
  • #106,398
  • Dec 12, 2008 8:29am Dec 12, 2008 8:29am
Quoting Infinity
That's very possible bro! The daily 50ema is at 5800 area... that would be sweet....
Let's see how she plays out......

HOLLA
  • #106,399
  • Dec 12, 2008 8:31am Dec 12, 2008 8:31am
deutsche bank just announced 1 billion trading loss
  • #106,400
  • Dec 12, 2008 8:32am Dec 12, 2008 8:32am
Quoting Komissar
Dive!
Dive!
Dive!

rise!
rise!
rise!

lol
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