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Cable Update (GBPUSD)

  • #117,381
  • Feb 3, 2009 10:08am Feb 3, 2009 10:08am
Quoting gammase1
Not unless one is trading long term, my dear JammerJams, then we trade on a fundamental basis with technicals used to support our entry and exit points, obviously employing extremely low levels of leverage.

Even as a short term trader, one should always understand how the major news stories, and movements in commodities, equities, bonds and other currency pairs impact the pair you are trading. It is important to have a solid understanding of the macro-economic fundamentals and the current correlations of different assets in order to become a more...
i could not agree more i only wish one day i can gain grasp of fundamentals just like yourself
  • #117,382
  • Feb 3, 2009 10:10am Feb 3, 2009 10:10am
Quoting gammase1
Hi Vourvoul,

It was on Mon 19th Jan, where Cable dropped by a 1,000 pips in 2 trading sessions.
Thanks gammase, I have to admit it was a trick question. I was hoping you'd say the 20th when the daily H&S neckline broke to demonstrate that the fall was expected by the Technical Analysis...

I'll get you next time... lol
  • #117,383
  • Feb 3, 2009 10:11am Feb 3, 2009 10:11am
Quoting nAVIN2007
i could not agree more i only wish one day i can gain grasp of fundamentals just like yourself
Well, hopefully I can continue to benefit from the great tech analysis you post on here and you can get the same from some of my posts concerning the fundamentals.

Cheers
  • #117,384
  • Feb 3, 2009 10:11am Feb 3, 2009 10:11am
Quoting Vourvoul
Thanks gammase, I have to admit it was a trick question. I was hoping you'd say the 20th when the daily H&S neckline broke to demonstrate that the fall was expected by the Technical Analysis...

I'll get you next time... lol
Hahahaha..... I'll have to make sure I don't trip myself up when you're on this forum!
  • #117,385
  • Feb 3, 2009 10:13am Feb 3, 2009 10:13am
Quoting gammase1
Well, hopefully I can continue to benefit from the great tech analysis you post on here and you can get the same from some of my posts concerning the fundamentals.

Cheers
absolutely bro! thank u
  • #117,386
  • Feb 3, 2009 10:14am Feb 3, 2009 10:14am
Quoting nAVIN2007
i could not agree more i only wish one day i can gain grasp of fundamentals just like yourself
I agree with nAvin...for me..trying to trade with fundamentals is difficult and leaves for question interpretion.

this approach requires a clear understanding of macro and even micro economics..and their interdependency.

A rather daunting requirement.
I feel that both approaches are good..in the right hands...
  • #117,387
  • Feb 3, 2009 10:16am Feb 3, 2009 10:16am
Quoting JammerJams
drop may be coming now...only time will tell..but I see a nice resistence holding
I see a nice spike..and if we sit here for the 1 hour period..we should see the movement downward...

careful with placing longs right now..
she is relentless, vicious, unforgiving... and she is supported by 6MA on the M15...

those still short from the 1.42xx should consider cutting loss when she comes back down to the 6MA... angle of upward trajectory looks very bullish
  • #117,388
  • Feb 3, 2009 10:16am Feb 3, 2009 10:16am
Quoting gammase1
Hi Vourvoul,

It was on Mon 19th Jan, where Cable dropped by a 1,000 pips in 2 trading sessions.
Yes, but all that was needed to trade that short was a simple trendline. I don't disagree that knowing the fundamentals makes you a more complete trader, but I must also say that you don't need to know the first thing about them in order to trade successfully. That said, I DO wish I knew more, but only from a trivia standpoint.
There's always money in the banana stand.
  • #117,389
  • Feb 3, 2009 10:17am Feb 3, 2009 10:17am
she reach 1.4412 pivot before heading back down
  • #117,390
  • Feb 3, 2009 10:20am Feb 3, 2009 10:20am
Quoting JammerJams
I agree with nAvin...for me..trying to trade with fundamentals is difficult and leaves for question interpretion.

this approach requires a clear understanding of macro and even micro economics..and their interdependency.

A rather daunting requirement.
I feel that both approaches are good..in the right hands...
yes learning fundamentals is another battle all on itself
Attached Image (click to enlarge)
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  • #117,391
  • Feb 3, 2009 10:21am Feb 3, 2009 10:21am
Quoting joemiami
will this thing reach 1.4412 pivot before heading back down?
well we are sitting at the top of the 4 hr. downward trendline

will see..
  • #117,392
  • Feb 3, 2009 10:21am Feb 3, 2009 10:21am
At last the GBP is dragged out of the dire strait.
  • #117,393
  • Feb 3, 2009 10:25am Feb 3, 2009 10:25am
Ive changed my mind Im not gonna open a short at 4415 anymore dollar is getting a kicking from all angles at the moment
  • #117,394
  • Feb 3, 2009 10:25am Feb 3, 2009 10:25am
mmmm... maybe she try to close a gap that she made yesterday... .45... mmm..
  • #117,395
  • Feb 3, 2009 10:27am Feb 3, 2009 10:27am
Quoting PipLand
Ive changed my mind Im not gonna open a short at 4415 anymore dollar is getting a kicking from all angles at the moment
i wont short....
i dunno why but going up for me was a question of time.
monthly very small body and weekly suggest a close higher than sunday open..1.48 after we get a close on dailly above 1.44 would b a start
  • #117,396
  • Feb 3, 2009 10:27am Feb 3, 2009 10:27am
Quoting cikos
mmmm... maybe she try to close a gap that she made yesterday... .45... mmm..
She gets up there today and there will be a shitload of sellers.
Just digging in the trenches like everyone else!
  • #117,397
  • Feb 3, 2009 10:29am Feb 3, 2009 10:29am
Quoting LizardGizzard
Yes, but all that was needed to trade that short was a simple trendline. I don't disagree that knowing the fundamentals makes you a more complete trader, but I must also say that you don't need to know the first thing about them in order to trade successfully. That said, I DO wish I knew more, but only from a trivia standpoint.
I see what you are saying, but there was a 500 pip drop on the Monday before the major support was taken out on the Tuesday morning...

To be a truly successful trader (which I am not...yet ;-)!!), a knowledge of fundamentals, in addition to the technicals, is absolutely essential. At the very least it provides one with clarity at times when the technicals are cloudy. It certainly offers far greater benefits than just a party trick, or a bit of useful trivia.

Don't get me wrong, I love the use of technicals, which allow one to trade more robot-like, with less danger of emotions or confirmation bias slipping into your thought process.
  • #117,398
  • Feb 3, 2009 10:29am Feb 3, 2009 10:29am
Quoting JammerJams
well we are sitting at the top of the 4 hr. downward trendline

will see..
guess not...
  • #117,399
  • Feb 3, 2009 10:31am Feb 3, 2009 10:31am
Quoting nAVIN2007
i wont short....
i dunno why but going up for me was a question of time.
monthly very small boody and weekly suggest a clse higher than sunday open..1.48 after we get a close on dailly above 1.44 would b a start
I wish I was on the long bus with you, grab some pips for me while your there lol.

If you get above 4470 then I wouldnt rule out 4630!
  • #117,400
  • Feb 3, 2009 10:32am Feb 3, 2009 10:32am
Quoting joemiami
guess not...

crrect..that is why i set a pending and not open short
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