Cable Update (GBPUSD)

Spot on I will 3rd that, great post!

I expect to see cable upto 1.60 in the short term before we see further weakness and then who knows where the bottom will be, but cable will get a big kicking! Especially when we add the holiday mentality of buy now pay later into the mix. Things are not looking good over here at all

Ignore the buy since I have been in it for about 2-3 days already and I am simply waiting for the market to stop me out with the remainder postion left

Gartly sell pattern Gpb/Usd 4h. Shallow or deeper Gartly sell pattern?

If the Fed starts to buy treasuries rather than continuing to drop central bank rates, what effect does that have on the USD ?

Nice avatar!

my short term view

I love the Sunday thoughts from the fundie bods..

Given a fixed set of fundies (an agreed scenario), i am sure that chartists are totally right and charts predict market behaviour. However the fundies will drive the 5000 pip moves and establish the trends, not trading behaviour.

I have been trading BP shares for 30 years and never lost - its easy - oil is volatile and when its beaten right down i buy, and when its going to the moon i sell. Its as scientific as that. How many techy books do I need to know that ?

What other commodity can you raise 300% and people still buy 95% as much as previously ?

I am building huge positions (for me) in oil and other commodities - companies with big divs and small loans only though...

Rio Tinto will be a massive success either alone or as a take over target again - thats my bet - the market is betting it cant pay its loans and commodities wont rise again.

Joe the bummer isn't buying stuff for now, but he sure isn't going to walk to work when his car is done in 3 years from now and that takes iron ore and coal and copper and oil etc etc

I absolutely agree that come March we will have seen awful news in the real economy and people will be running for cash and shares will be mega cheap. Treasury Bonds are still running well but 0% marks the high and i will be moving mine to commodities and oil when despair stalks the streets

I wish I had a handle on cable.. I look on 'rightmove' and compare house prices and I see NO slippage in asking prices in the UK - I mean NON ! I sold my UK house last year and there are no houses for sale in my street where usually there are 2 or 3. If I went back to the UK I would need £250k for a rabbit hutch, even in the North.

Looks to me like a hugely sluggish market, but sellers are keeping their prices and waiting it out - perhaps it needs another year for them to capitulate - after all the UK was 18 months after Florida/California going into this thing

In theory , the euro should be a star pick - the Germans rent or buy conservatively. The trouble is that its a new currency and nobody knows how it will react given a huge stressor of deflation in the north and inflation in the south - its an unknown. A couple of years ago we saw it on a small scale and it wasn't pretty

For people interested in financial markets and macro economics, this has to be the most thrilling time ever

Some of us will sit back and watch and some will go in; and of those, some will double and triple their wad - and some will be wiped out

Three categories - and only 2 of those apply to people who do forex trading....

Yep...the world economy will suck and oil will go back up and doom and gloom will prevail.

or

The U.S. will turn the economy around with a new govt., lead the world out of depression.....the stock market and the dollar will wildly appreciate and life will be coming up roses.

What ever happens i plan on taking things one day at a time and doubling my account every 2 months. What is that...a 640% percent per year return on investment.

Not bad for a lowly currency trader!

Al

Your world economic anaylsis makes even better reading than Robert Pestons blog on the bbc site. Keep it coming long may it continue.

Say HI to 1.55 once we break up this symmetrical triangle.

GBPUSD H4 -- "30P"



http://img152.imageshack.us/img152/2...son0151uc4.gif


Points "30P"...

Trend Now = SIDE
Pression = DOWN

Target Now = Upper Resistence 1.56

Supports = 1.488 >> 1.482 >>1.472.
Resistence = 1.50 >> 1.513 >> 1.527.

I am OUT now, just waiting for SELL 1.484.

If pair cross 1.56 then we will start UPTREND.

Source = Skyson

More: GBPUSD H4 -- "30P"

US. Fed will cut 0.5% interest rate on Tuesday as forecast.

IR cut dont have much impact lately. It could also make the $ stronger

My g/u analysis for the week.

No sells below top line. No buys above lower line.


have a good week

Whats up guys

Hi guy, any chart up dated ?

Well I am still long in this pair with my remainder 5 percent....so I really dont look on to jumping on any trade yet...I was hoping to short from the daily chart...but not sure if it will happen...

Thank you !

I have closed most of my long @ 1.5050.
Now waiting for it drop below 1.5000 to enter long