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Cable Update (GBPUSD)

  • #121,521
  • Feb 18, 2009 1:25pm Feb 18, 2009 1:25pm
Quoting alexan
Hi All,

i have some question, i live in california, and the recession is very bad, state of california just laid off 22,000 their employee and a lot from private sector too, so what will happen if the next event about unemployment claim from US is greater than 620K, is the GBP going to north?, but i heard that now the GBP is tied to USD. so any opinion from economic expert here

thanks
Alexander
If GBP was tied to USD, our charts would be a horizontal line....

The whole world is collapsing - dockers in Vladivostok east Russia are hurting as no cars are being imported - so are people doing whale watching trips in the Canary Islands and Council workers in England and the Arnie gang in California - I bet the hookers in Paris have noticed a reduction in business

There is only me that is ok and that is because I am a tight arse Yorkshire man who is always looking out for threats and opportunities....

Believe half of what you see, and none of what you hear - and dont follow leaders and watch your parking meters
  • #121,522
  • Feb 18, 2009 1:27pm Feb 18, 2009 1:27pm
Quoting allserene
....

Believe half of what you see, and none of what you hear - and dont follow leaders and watch your parking meters

Wise, very very wise!
Just digging in the trenches like everyone else!
  • #121,523
  • Feb 18, 2009 1:28pm Feb 18, 2009 1:28pm
Quoting fourxtrader
On another note:
Earlier, anyone following his method want to tell me why they didn't
initially take the 1.4265 BUY trade off of Abuawad's 2/18 daily analysis
before going south at 1.4205?

Dr. D.
I've been looking at this myself, and I must confess I took the buy as well. According to Abuawad's rules as i understand them, the it was a valid trade as it had closed above the buy line in the 30 min. In hindsight (which is a wonderful thing!) though I looked back at the 15 min chart for the same period and saw to my disgust that there was a hanging man candle at around the same time, indicating a price reversal to the downside. Wish I'd spotted it at the time - would have been a nice ride down!!! I've attached the 30 min and 15 min chart so you can make up your own mind. Note that timings are 1 hour out from GMT due to the Alpari platform I use. Important areas are marked in blue...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart1.png Size: 11 KB
Click to Enlarge Name: Chart2.png Size: 20 KB
  • #121,524
  • Feb 18, 2009 1:29pm Feb 18, 2009 1:29pm
Quoting eohater
Good to see you Jeff! Take care of your family first and foremost. The market will be here ready to pay you when you come back.
Amen EO,

Thanks for the encouragement...
Yeah it was too much trying to "cram" trades in,
drive to eastern shore, do their bills, med's,
shop for them, have a life w/my own wife & daughter,
then be mad when you wanna trade... it ain't happening!

'Began placing trades, trying to wish the mkt to do x/y/z.
Throwing Jack $$ away. -Not good.

'Enough said on that.
It's for sure a waiting game at times...
And i trade best w/London, in the early morning hr's.

Thanks again Eo, for 'encouragement,
'Will try & keep checked in w/you guys,
When 'fully able,
Wishing you all Much Pippin & Gains,

Jeff
I will work to Objectively Identify my Edges
  • #121,525
  • Feb 18, 2009 1:29pm Feb 18, 2009 1:29pm
Quoting allserene
If GBP was tied to USD, our charts would be a horizontal line....

The whole world is collapsing - dockers in Vladivostok east Russia are hurting as no cars are being imported - so are people doing whale watching trips in the Canary Islands and Council workers in England and the Arnie gang in California - I bet the hookers in Paris have noticed a reduction in business

There is only me that is ok and that is because I am a tight arse Yorkshire man who is always looking out for threats and opportunities....

Believe half of what you see, and none...
allen i really do miss yur comments...and yes all very true, the world is on the verge of meltdown
  • #121,526
  • Feb 18, 2009 1:33pm Feb 18, 2009 1:33pm
Quoting nAVIN2007
hey bud,
im good bro! loving the new home, its great..good to see u still here and not losing cash, paper traing is good at least we can develop a system which we can rely on..

keep it up bro..stay blessed

im trying my luck here on a 5 minute chart...lol
Cool Navin,

I'm super glad to hear you're doing great & in the "swing"
of things. I'm trying out these longer position trades,
'cause 'just don't have the time at the moment, and
want to be able to accept the gamble... also w/a "Good Edge".

But man,
That's encouraging to me, you're working some good 'gains,
again. Way to go Nav,
'Keep in touch w/you bro,
Thx for the Chart,

Jeff
I will work to Objectively Identify my Edges
  • #121,527
  • Feb 18, 2009 1:42pm Feb 18, 2009 1:42pm
Quoting eohater
what are you doing hedging a position?

If you want to talk to someone who can tell you the pain of a hedge, just ask our resident navin. He'll fill you in.

Color me new, coming from the penny markets, I like the feature...

Soft hedges make me money or minimize loss when I sleep.

Hedged against the trend when market goes to sleep and wakes up crabby is just a way for me to cover my ass while waiting for correction...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,528
  • Feb 18, 2009 1:43pm Feb 18, 2009 1:43pm
Took long from 4212
  • #121,529
  • Feb 18, 2009 1:47pm Feb 18, 2009 1:47pm
Cable Weekly

Similar seen in dollar index and dow.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.gif Size: 41 KB
  • #121,530
  • Feb 18, 2009 1:47pm Feb 18, 2009 1:47pm
Quoting Magix
Color me new, coming from the penny markets, I like the feature...

Soft hedges make me money or minimize loss when I sleep.

Hedged against the trend when market goes to sleep and wakes up crabby is just a way for me to cover my ass while waiting for correction...
Becareful! It's your money and you can do with it as you please. I'll take the loss and wait for a new setup before I'd hedge a position. Cable moves too much and before you know it, your hedge 500 pips away from the current price trying to figure what your going to do next.
Just digging in the trenches like everyone else!
  • #121,531
  • Feb 18, 2009 1:48pm Feb 18, 2009 1:48pm
Quoting jack.canadia
Took long from 4212
I added to my longs at that price. Good job! Let's see if she'll continue her move north now.
Just digging in the trenches like everyone else!
  • #121,532
  • Feb 18, 2009 1:51pm Feb 18, 2009 1:51pm
Quoting eohater
I added to my longs at that price. Good job! Let's see if she'll continue her move north now.
I think we may be in for a longer move here. Dollar index, Dow and Cable are diverging on the weekly timeframes! Nothing is set in stone but a large divergence preceded the large fall.
  • #121,533
  • Feb 18, 2009 1:53pm Feb 18, 2009 1:53pm
And the 4270/4320 area will be a large hurdle to overcome for bulls.
  • #121,534
  • Feb 18, 2009 1:54pm Feb 18, 2009 1:54pm
Quoting eohater
Becareful! It's your money and you can do with it as you please. I'll take the loss and wait for a new setup before I'd hedge a position. Cable moves too much and before you know it, your hedge 500 pips away from the current price trying to figure what your going to do next.
My trading style emulates that of a Polish sex manual ->in, out, repeat if necessary....

Though I have been in some goofy hedged plays, I typically exit when indicators correct and can still bank on the play. Not always...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #121,535
  • Feb 18, 2009 1:55pm Feb 18, 2009 1:55pm
Quoting jack.canadia
I think we may be in for a longer move here. Dollar index, Dow and Cable are diverging on the weekly timeframes! Nothing is set in stone but a large divergence preceded the large fall.
I wouldn't be surprised to see her go down to the bottom during the Asian session before taking off north. Either way, we'll trade whatever she presents. As you and I know, nothing is ever set in stone in this market, just good setups with good mm.
Just digging in the trenches like everyone else!
  • #121,536
  • Feb 18, 2009 1:56pm Feb 18, 2009 1:56pm
Quoting jack.canadia
And the 4270/4320 area will be a large hurdle to overcome for bulls.
4350 is the one! Sellers are drooling sitting there just waiting to get in at that price. I can't blame them. I am as well.
Just digging in the trenches like everyone else!
  • #121,537
  • Feb 18, 2009 1:56pm Feb 18, 2009 1:56pm
Quoting nAVIN2007
allen i really do miss yur comments...and yes all very true, the world is on the verge of meltdown
Nav you have to spell me 'Alan' coz that other way is Scottish and my knees aren't nobbly enough to be one of them...mine are more like liz hurley's

I have overdosed on hugh hendry vids on utube and i feel like the end is nigh - but luckily I have been here before and lost £40k, then sat back and watched it go up £100k in 18 months. ok this one is going to be slower, but warren buffet says its not the end - so the end it isn't.

I will be ok, living in the north west i can go stand in the rivers and live on salmon... the indians round here used to dry the salmon then spent all winter chewing it with that tooth - and having dried salmon fights with their mrs in the tepee when they got bored around january...

My neighbours invented 'scalping' so I just carry on the tradition in forex

forex and shares are even more insane right now, so i try to not get too involved
http://i.dailymail.co.uk/i/pix/2008/...30_468x631.jpg
  • #121,538
  • Feb 18, 2009 1:57pm Feb 18, 2009 1:57pm
Quoting Magix
My trading style emulates that of a Polish sex manual ->in, out, repeat if necessary....

Though I have been in some goofy hedged plays, I typically exit when indicators correct and can still bank on the play. Not always...
Just digging in the trenches like everyone else!
  • #121,539
  • Feb 18, 2009 1:58pm Feb 18, 2009 1:58pm
Quoting eohater
4350 is the one! Sellers are drooling sitting there just waiting to get in at that price. I can't blame them. I am as well.
Oh I know today may not be the turning point, but I definitely wont rule that divergence out. PA will show us.

And yes all this talk of the H4 50/55 EMA in the gap. If I am around the cpu I will short but if not I'll wait on a higher low to long agian.
  • #121,540
  • Feb 18, 2009 2:03pm Feb 18, 2009 2:03pm
Quoting jack.canadia
Oh I know today may not be the turning point, but I definitely wont rule that divergence out. PA will show us.

And yes all this talk of the H4 50/55 EMA in the gap. If I am around the cpu I will short but if not I'll wait on a higher low to long agian.
I'm hadn't even noticed, but now that you point it out. Yeah! It's right there.
Just digging in the trenches like everyone else!
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