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Cable Update (GBPUSD)

  • #131,061
  • May 4, 2009 5:32pm May 4, 2009 5:32pm
Quoting AngelaTrix
Yes!! Why? you don't like it?
It's not the newest one but I love it a lot!

very beautiful!

  • #131,062
  • May 4, 2009 5:33pm May 4, 2009 5:33pm
Hi People,
How things with you all? With very low volume today NY traders shorted the the dollar , too bad European traders were not around today............recently they were telling those Hedge fund guys were Short big time and they were loosing .............now they say they are long...........they must be driving the price up ...........short squeeze ........running down stops so ............they could clear the field for a big short........... Soon I will be cooked with my shorts I am not planing to ditch them ......... To bad huge loss to start the week ............ can't they learn not to kill all the "minute fish" in the pond.........
BANDA333
  • #131,063
  • May 4, 2009 5:38pm May 4, 2009 5:38pm
Quoting AngelaTrix
Yes!! Why? you don't like it?
It's not the newest one but I love it a lot!
No,Please, Don't get me wrong, I like it very much. It's a breath of fresh air in this tough forex business. Very unique indeed.
Hear the music before the song is over ...
  • #131,064
  • May 4, 2009 5:38pm May 4, 2009 5:38pm
does this mean that it will go up rather than going down? for today, there are news for USD and on red color , -_- so chart will go up right? omg, im deads, cant hold it anymore
  • #131,065
  • May 4, 2009 5:42pm May 4, 2009 5:42pm
Quoting GlobalMacro
No,Please, Don't get me wrong, I like it very much. It's a breath of fresh air in this tough forex business. Very unique indeed.
crap

  • #131,066
  • May 4, 2009 5:44pm May 4, 2009 5:44pm
GBP/USD It is more likely to go up to 1.5100 or higher.

_______________________________________________________

History Level GBPUSD
  • #131,067
  • May 4, 2009 5:55pm May 4, 2009 5:55pm
Quoting GlobalMacro
No,Please, Don't get me wrong, I like it very much. It's a breath of fresh air in this tough forex business. Very unique indeed.
Quoting biax

very beautiful!

Thank you both!
You are so sweet guys!!

That’s how a girl should be treated at all time!
  • #131,068
  • May 4, 2009 6:00pm May 4, 2009 6:00pm
do we still have some chances for downtrend ? or downtrend is already hopeless for this will be sure to rise up ti 1.5100 or higher?
  • #131,069
  • May 4, 2009 6:00pm May 4, 2009 6:00pm
i can't understant sorry it is mean if we have bad news for EUR it is mean bad for other pairs?

http://www.forexfactory.com/images/misc/progress.gif


Quoting AngelaTrix
Remember that in a good relationship both members play an important role. If Eur news is bad you have to be aware of what happen in the other currency. We trade pairs not just currencies.
  • #131,070
  • May 4, 2009 7:07pm May 4, 2009 7:07pm
Quoting smartalicus
hey jack, are you in line with the thinking it could test 1.51? Supposedly low vol today, but Asian and European mkts seen content sentiment wise to follow our indexes.... Also, several economists recently have expressed bearish thoughts on USD.... Technically, this looks like a major headfake.... There were bearish comments out of some fed officials today.... It just seems so iffy though. You think this could be a bug drive up before possible QE news Thurs?or would it be safe to take short term long? Any of your thoughts/analysis are appreciated...
Well the shorts under 1.50 didnt work for me. Took a small loss of -15, not a bad day at all. The market will, most of the time, retrace back to a major source of support/resistance, that currently being the previous swing high around 5070.

I try to not watch the news as the charts tell enough of a story and yet again I favor a short from this level. I don't know when and I will try to snag the best possible price with a decent stop. It's seems alot of currency pairs are at some sort of major levels, making for some nice trades if we time them properly enough.

I think it's best to let the short side show itself first, and then jump on-board. Othewise, play a breakout of the previous highs (5060) and target 5300. Downside possibly 4720.

Not shown but daily MACD is decreasing.
Attached Image (click to enlarge)
Click to Enlarge Name: d1 gu.gif Size: 40 KB
  • #131,071
  • May 4, 2009 7:41pm May 4, 2009 7:41pm
Quoting AngelaTrix
Nope!
If Eur news is bad you have to be aware of what happen in the other foreign currencies. Some of the fundamental reports in U.S. were slightly better than the traders have expected, so the currency markets reacted with the growing. This is one key issue when building a forex trading strategy.
Check this out: http://angelatrix.wordpress.com/2009...st-currencies/
Angela, very useful - and a very nice pic as well. Alright Im going to committ to GU going down to 1.475 hopefully though I am not completely sure whether my theory is correct. The positive housing data like much of the numbers coming out at the moment in US seemed to be a little suspicious - most of the construction is related to government developments (well after the the recent bill that was passed with the largest number of earmarks its not so surprising) personal developments (Real housing for public has dropped -4.2% - Sure there is optimism that the money is filtering through and will have a short term impact but the news has been recieved almost too positively. The theory the Fed is adopting is that get the investors out from the sidelines by creating a postive environment and hopefully it will catch on and fix the economy. May not work that way and some people might be wise enough to take profits now.

Dollar has regained its status as safe haven it seems as risk aversion had also stopped working after Feds QE but now seems to be affecting USD again. Couple of top fed guys talked about taking action to stop inflation if the economy improves - the only way they can do it is taking money out of the system which would be a dollar postive. The above may not have filtered through yet but hopefully will have some impact in moving GBP down.
  • #131,072
  • May 4, 2009 7:42pm May 4, 2009 7:42pm
is it going down now? -_- my equity is very low, -_- $60 omg
  • #131,073
  • May 4, 2009 8:23pm May 4, 2009 8:23pm
Quoting yanzsukechi
is it going down now? -_- my equity is very low, -_- $60 omg

Wait what do you mean are over leveraged? Or have you not cut your losses?
  • #131,074
  • May 4, 2009 8:27pm May 4, 2009 8:27pm
high point for this bull session is 1.5043, creating new LH,it start retrace down already,if can retrace down to 61.8, its enough to break the bottom TL,reversal might be possible, see also the weekly top TL is up there,might be rejecting GU from further going up...
Attached Image (click to enlarge)
Click to Enlarge Name: guh40505.gif Size: 12 KB
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #131,075
  • May 4, 2009 8:30pm May 4, 2009 8:30pm
Quoting kalparker
Wait what do you mean are over leveraged? Or have you not cut your losses?
i am not placing s/l on my trades, i dont want to lose a trade, -_- but now, omg, if it goes up again, i think what i will do is to open a buy order so that i can keep my acc going, -_-, huhu, today, there are news for USD so meaning this day it will go up again, -_-
  • #131,076
  • May 4, 2009 8:52pm May 4, 2009 8:52pm
Quoting yanzsukechi
i am not placing s/l on my trades,
Just give me your money then!
  • #131,077
  • May 4, 2009 9:00pm May 4, 2009 9:00pm
Quoting jack.canadia
Just give me your money then!


hem...
  • #131,078
  • May 4, 2009 9:07pm May 4, 2009 9:07pm
guys, will down again? or it will rise up this time?
  • #131,079
  • May 4, 2009 9:08pm May 4, 2009 9:08pm
Quoting biax


hem...
Well sometimes dodgy FX brokers deliberately run your stop down when the market is against you - so from that perspective having a wide SL is affective in protecting. But it can be dangerous, hang in there though Ive got my fingers crossed for you!!
  • #131,080
  • May 4, 2009 9:08pm May 4, 2009 9:08pm
Quoting yanzsukechi
i am not placing s/l on my trades, i dont want to lose a trade, -_- but now, omg, if it goes up again, i think what i will do is to open a buy order so that i can keep my acc going, -_-, huhu, today, there are news for USD so meaning this day it will go up again, -_-
I cant reply to your PM. I dont use Yahoo, only MSN.
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