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Cable Update (GBPUSD)

  • #122,381
  • Feb 20, 2009 2:22pm Feb 20, 2009 2:22pm
Sorry ,no chart anyway its the exact same thing.

Quoting Bones
Heres what I see ...on Daily
Attached Image (click to enlarge)
Click to Enlarge Name: 35)gbp-usd daily ,19-02.gif Size: 14 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #122,382
  • Feb 20, 2009 2:22pm Feb 20, 2009 2:22pm
Quoting daffy
Good luck with your shorts. I'm not quite as brave, I'm closed out and will reenter when the marketrs open.
better safe than sorry. When in doubt get out. Always know your risk/reward and never be in a position of hope.
  • #122,383
  • Feb 20, 2009 2:23pm Feb 20, 2009 2:23pm
Quoting eohater
Death and Taxes.....2 things in life we cannot avoid.
and failing to understand women - that makes 3


yeah its got to be a short in the next week - I know GE is going to get a downgrade and I know the major US banks will all be nationalized (Hugh hendry bet on this months ago with total certainty)

But the UK has horrible news brewing and the US could get some better news and that will send GBP spinning

Its a race to the bottom and its GBP 's turn next after a bad weekend for the US

then it will be the US again when Obama tops himself and leaves a note saying there is no way out and he feels inadequate
  • #122,384
  • Feb 20, 2009 2:26pm Feb 20, 2009 2:26pm
Quoting Inzider
Prof sorry if i been rude on your back lately, dunno if your remember... I wanted to say that when you post those kind of info, tips and etc... its appreciated!! Only matter of attitude. Here, i can't argue, and thx you very much for the info!
no worries dude been too busy to log on. Trading and business is growing very well. all forgotten and forgiven. Just like to help newbies when i can. Giving back what was given to me.
  • #122,385
  • Feb 20, 2009 2:30pm Feb 20, 2009 2:30pm
Well is it a Spike .Take a look at the weekly usdx candle and tell me the direction.
Technically its rejection off the old highs as far as I can tell.Maybe once traders see that it will not break they pull their orders,maybe its as simple as that someone starts the ball rolling at these high levels.
Anyway it was clear it would not break yesterday to me.
Still im with red pips,how bad is the world,lol


Quoting daffy
You had seen it, but the question about the spike was still being asked without any answers, so I assumed they missed my post. It's a courtesy repost.

I have no idea whether this is the real reason or not, I'm requoting what I read on the news feed, although they have had subsequent stories supporting the initial one, so perhaps it is. It's also consistent with the dollar index collapsing, suggesting there was a huge dollar sell off. A huge order with a thin market, would certainly cause a spike.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #122,386
  • Feb 20, 2009 2:30pm Feb 20, 2009 2:30pm
Quoting Komissar
And what TP are you expecting? Around 41xx? support on 4H.
LOL, the opening gap on monday @ 4135 area made me the 300 I'm up this week from cable. I left it over the weekend. I short again @4240 since & have watched it bounced off 41xx countless times this week & not taking profit. No I will move my stops when the candle closes below 4050 & let it run all the way to 3600 if possible.

cesarg : thanks for the heads up, appreciate it.
Thank You
  • #122,387
  • Feb 20, 2009 2:32pm Feb 20, 2009 2:32pm
If anyone is interested next week i am posting ira on line trading it live for everyone to watch. Should be set up no later than wednsday and will be using mt4 platform. May help may not but i am using it for marketing to naysayers that say forex is too risky. Have point to prove so it will be view only but real money.
  • #122,388
  • Feb 20, 2009 2:34pm Feb 20, 2009 2:34pm
Quoting Bones
Well is it a Spike .Take a look at the weekly usdx candle and tell me the direction.
Technically its rejection off the old highs as far as I can tell.Maybe once traders see that it will not break they pull there orders,maybe its as simple as that someone starts the ball rolling at these high levels.
Anyway it was clear it would not break yesturday to me.
Still im with red pips,how bad is the world,lol
Not often you get it wrong Bones

I reckon its top of the channel on the daily

People make reasons up after it moves but there are two many variables to know for sure

treading carefully but short biased and no overnight or over weekend stuff
  • #122,389
  • Feb 20, 2009 2:34pm Feb 20, 2009 2:34pm
Quoting wormboy
Right. The 4450 level is the other reason I'm keeping my short bias intact for the time being. I'm leaving it over the weekend and let the chart prove me wrong.

leu02cz : I think you just got caught up with the moment and noise during a relatively flat week. Don't think you should beat yourself about it though mate. Good luck
wormboy: Thanks!

Good Luck!
  • #122,390
  • Feb 20, 2009 2:35pm Feb 20, 2009 2:35pm
All news is already in the charts ,maybe im crazy but I do think it

Edit ..Appart from natural disaster etc
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #122,391
  • Feb 20, 2009 2:35pm Feb 20, 2009 2:35pm
Quoting Professor4x
no worries dude been too busy to log on. Trading and business is growing very well. all forgotten and forgiven. Just like to help newbies when i can. Giving back what was given to me.
No doubts, its a winning attitude!

Wish you good week-end!
Same to you all!

Inz!
  • #122,392
  • Feb 20, 2009 2:36pm Feb 20, 2009 2:36pm
Quoting Bones
All news is already in the charts ,maybe im crazy but I do think it
totally agree, fundamentals trigger technicals but techs rule on direction. Fundamentals create the sentiment in market so its' good to keep up. Markets are created for difference of opinon and create liquidity for that difference. Sentiment will cause direction but technicals will trigger entry and exits of the direction and are more accurate for trading.
  • #122,393
  • Feb 20, 2009 2:41pm Feb 20, 2009 2:41pm
Yes Al I wont be holding anything ,its been freaky but I honestly expected the result.The market wont make it easy thats for sure.
The $ will be weak but maybe the £ will be to ,I need time to study.


Quoting allserene
Not often you get it wrong Bones

I reckon its top of the channel on the daily

People make reasons up after it moves but there are two many variables to know for sure

treading carefully but short biased and no overnight or over weekend stuff
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #122,394
  • Feb 20, 2009 2:50pm Feb 20, 2009 2:50pm
what causes gaps during the weekends?
only ATM cash mashines??
  • #122,395
  • Feb 20, 2009 2:53pm Feb 20, 2009 2:53pm
Quoting Professor4x
If anyone is interested next week i am posting ira on line trading it live for everyone to watch. Should be set up no later than wednsday and will be using mt4 platform. May help may not but i am using it for marketing to naysayers that say forex is too risky. Have point to prove so it will be view only but real money.

I'd be all over that like a fat kid on a smartie Prof...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122,396
  • Feb 20, 2009 2:59pm Feb 20, 2009 2:59pm
aargghhh got caught out

I have small short on and I wasnt watching the clock

at 12.45 pacific time , OANDA went to a 10 pip spread on all currencies and I dont like to give em money

I will leave it on as its so small that I can take a couple hundred pips movement before it goes back in it's hole

No s/l, bareback

I reckon the bad stuff will catch up with euro/gbp next week, especially if citi dont get nationalised and GE bluff it out
  • #122,397
  • Feb 20, 2009 2:59pm Feb 20, 2009 2:59pm
i am in two short trades....guess from all convo...i need to close before the closing....i am a newbie...thanks
  • #122,398
  • Feb 20, 2009 3:01pm Feb 20, 2009 3:01pm
Closed out shorts here...All done for the day, have a great weekend all!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #122,399
  • Feb 20, 2009 3:05pm Feb 20, 2009 3:05pm
Quoting Magix
Closed out shorts here...All done for the day, have a great weekend all!
I got 3 lot short positions, wanted to hold all over the weekend, but I cloesd one of them now, maybe there wont be a gap, so it will be not worth holding them. will decide if close the other 2.

edit: I closed all the 3 lots short positions.
  • #122,400
  • Feb 20, 2009 3:11pm Feb 20, 2009 3:11pm
Okay I'm off. I'm off to phuket for a cheap getaway
Have a good weekend everyone!
Thank You
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