Attachments: Trade what you see NOT what you expect

Trade what you see NOT what you expect

#10,081
Apr 24, 2009 11:39pm Apr 24, 2009 11:39pm

djambazov84
| Joined Apr 2008 | Status: J16 Turtle | 1,572 Posts

Quoting Turtle

Disliked

Hope everyone's weekend is going good....I know mine is!!

Question: What would my fellow traders classify this weekly candle as?? :nerd:

Hangman...with previous candle being a Pinbar??????

High on previous candle is 5065......price was last there on 1/11/09.

Thoughts.........:nerd:

HOLLA

Ignored

monthly bar is shaping as a nice pin bar. one more week to form though

Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !

#10,082
Apr 25, 2009 5:14am Apr 25, 2009 5:14am

stewrigh
| Membership Revoked | Joined Feb 2008 | 9,794 Posts

Quoting djambazov84

Disliked

monthly bar is shaping as a nice pin bar. one more week to form though

Ignored

This is getting interesting.

Are all the GBP pairs showing pins - take a look at GBPJPY as well.

Is the pound heading for a crash across the board???

#10,083
Apr 25, 2009 5:59am Apr 25, 2009 5:59am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting stewrigh

Disliked

This is getting interesting.

Are all the GBP pairs showing pins - take a look at GBPJPY as well.

Is the pound heading for a crash across the board???

Ignored

i really hope not....im actually quite worried

#10,084
Apr 25, 2009 3:39pm Apr 25, 2009 3:39pm

Turtle
| Joined May 2007 | Status: Trader | 4,716 Posts

Quoting nAVIN2007

Disliked

i really hope not....im actually quite worried

Ignored

And why would that be Navin????

HOLLA

#10,085
Apr 26, 2009 4:00am Apr 26, 2009 4:00am

BenScoobert
| Joined Jan 2008 | Status: Pipping along | 907 Posts

Quoting Turtle

Disliked

And why would that be Navin????

HOLLA

Ignored

He's British

#10,086
Apr 26, 2009 4:27am Apr 26, 2009 4:27am

stewrigh
| Membership Revoked | Joined Feb 2008 | 9,794 Posts

Quoting nAVIN2007

Disliked

i really hope not....im actually quite worried

Ignored

Yep me too but look at the budget and post budget analysis - we are in deep s***t.

The last time things were this bad, and I'm old enough to remember(lol), we had to be bailed out by the IMF.

As JW often says 'hold on to your f*****g hats'

#10,087
Apr 26, 2009 6:01am Apr 26, 2009 6:01am

daffy
| Joined Jan 2009 | Status: Show me the pips! | 651 Posts

Quoting stewrigh

Disliked

Yep me too but look at the budget and post budget analysis - we are in deep s***t.

The last time things were this bad, and I'm old enough to remember(lol), we had to be bailed out by the IMF.

As JW often says 'hold on to your f*****g hats'

Ignored

I think what's worse is that not only has Darling's budget been rubbished as overly optimistic in terms of growth figures by just about everyone, but it seems that there was a fair amount of political motivation in what was said.

I was reading in a paper today that Darling wanted far greater cuts in public spending, and he wanted to announce lower growth figures, but No. 10 was fearful of the impact that would have on their chances of being re-elected next year, (if they do get re-elected, it'll be a bigger miracle than what it would take to turn our economy around).

Vince Cable, the Liberal Democrats spokesman, suggested that the growth figures were reverse engineered, i.e., they figured out what amount of growth they would need to get a certain level of taxation revenue, and made those the figures they announced for growth for the coming years. That's quite a damning thing to say - he's effectively saying the office of the exchequer is more interested in politics than economics.

To me, it seems necessary to give some level of autonomy to the exchequer. Economic policy should be for the long term, and should not be politically motivated. The market isn't thick, and if you tell a porkie, or try to fool it, you'll get found out pretty quickly.

#10,088
Apr 26, 2009 6:24am Apr 26, 2009 6:24am

gammase1
Joined Jun 2008 | Status: Trader | 1,739 Posts

Quoting daffy

Disliked

I think what's worse is that not only has Darling's budget been rubbished as overly optimistic in terms of growth figures by just about everyone, but it seems that there was a fair amount of political motivation in what was said.

I was reading in a paper today that Darling wanted far greater cuts in public spending, and he wanted to announce lower growth figures, but No. 10 was fearful of the impact that would have on their chances of being re-elected next year, (if they do get re-elected, it'll be a bigger miracle than what it would take to turn...

Ignored

Nice post, Daffy.

I agree with much of what you say and am definitely in full agreement with Vince Cable's summary of the growth figures announced in Wednesday's budget. I wrote a piece in The Wormhole yesterday about the current state of the UK's economy and the great downside risks that exist. Take a look as it might be of a little interest to you.

Paul

#10,089
Edited 6:43am Apr 26, 2009 6:28am | Edited 6:43am

daffy
| Joined Jan 2009 | Status: Show me the pips! | 651 Posts

Quoting gammase1

Disliked

Nice post, Daffy.

I agree with much of what you say and am definitely in full agreement with Vince Cable's summary of the growth figures announced in Wednesday's budget. I wrote a piece in The Wormhole yesterday about the current state of the UK's economy and the great downside risks that exist. Take a look as it might be of a little interest to you.

Paul

Ignored

One step ahead of you, I read it yesterday

I should know more about fundamentals than I do, as I did study economics to masters level, but it was so long ago, and I moved away from economics to become a computer programmer, but, what irks me about the way the economy has been run, is that common sense should indicate that taxing the private sector to subsidise the public sector, is only sustainable for as long as everything else remains constant. What is becoming apparent now, is that for the last 10 years, we have had a chancellor who has advanced his own political ideologies at the expense of actually managing the economy for the long term. I actually feel some sympathy for Alistair Darling, as he can only work with the tools he has inherited - the damage was done years ago.

There's an interesting piece on the bbc news site with quotes from David Cameron, about how a conservative government would expect more for less, and would restructure every facet of how the government is currently run, to provide value for money at every level. I do like the conservatives at the moment, and they are certainly saying things that I agree with on how the economy, and the public sector, should be run. I don't know if they'll be any better than labour if and when they do get in, but at this moment in time, I believe they are the best option for the country. Labour have lost all credibility on the economy, and will never regain it while Gordon Brown is in any position of influence within the labour party. Brown's economic policies have a socialist slant to them, and truth be told, I don't think he'll ever be able to live down his assertion that he had found the magic pill to end the boom and bust cycle. He proclaimed to be a magician, when the reality was that Britain enjoyed record growth because it was being dragged along on the coat tails of the world economy, that itself was enjoying record growth. That he failed to see this, and instead took it as the rationale to increase public sector spending to record levels, will haunt his political aspirations for the rest of his career.

#10,090
Apr 26, 2009 7:03am Apr 26, 2009 7:03am

ezodisy
| Joined Nov 2008 | Status: Trader | 665 Posts

just curious to know if any of you guys follow wave analysis? There's quite a lot of talk of a completed 3 wave corrective structure up from the 1.35 low, which might (or should) bring downtrend resumption for new lows. Probably that would tie in nicely with a potential monthly pin

#10,091
Apr 26, 2009 7:50am Apr 26, 2009 7:50am

hussin naiji
Joined Nov 2007 | Status: beginner | 7,828 Posts

HAPPY SUNDAY !!

#10,092
Apr 26, 2009 11:06am Apr 26, 2009 11:06am

nAVIN2007
Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts

Quoting stewrigh

Disliked

Yep me too but look at the budget and post budget analysis - we are in deep s***t.

The last time things were this bad, and I'm old enough to remember(lol), we had to be bailed out by the IMF.

As JW often says 'hold on to your f*****g hats'

Ignored

#10,093
Apr 26, 2009 1:37pm Apr 26, 2009 1:37pm