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Cable Update (GBPUSD)

  • #133,321
  • May 20, 2009 11:22am May 20, 2009 11:22am
Maybe selling now is good idea.
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  • #133,322
  • May 20, 2009 11:23am May 20, 2009 11:23am
1.5592 break had strong follow-thru all the way up to well-above 1.5683.
Market liked Geithner speech .
Expanding momentum and pressure.

One of the trickiest times to trade is when someone of impact speaks...it can be cataclysmic.
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Hear the music before the song is over ...
  • #133,323
  • May 20, 2009 11:26am May 20, 2009 11:26am
anyone will go short here?
  • #133,324
  • May 20, 2009 11:27am May 20, 2009 11:27am
Quoting riggster
Leave it its BS

It will get you in the end.
Oh just a suggestion to all the people here(that are crying that they are losing all there money), i dont trade it...just set it up to see how it works($150 was worth the try).
I have my own method of trading.
  • #133,325
  • May 20, 2009 11:29am May 20, 2009 11:29am
when hit 1.5705 hit short for 30 pips profit not more yet .and prepare for a big short of 300-400 pips in a week at the most.
Quoting SwissKinseb
anyone will go short here?
  • #133,326
  • May 20, 2009 11:32am May 20, 2009 11:32am
look at my post and signals .i acuse some of them to influence nebies in trading and told them to let people choose .i signalize the up move 1 h before and fight with them.look at threads from 8881

Quoting pujolshomerun
If you wanna short, short yourself and lose your money. Don't confuse other guys just because you are losing money and you hope it goes down. I was almost sure that it was going up. I freaking lost my chance to long cause of all these losers who said it will go down but its flying high and that you hope won't happen
  • #133,327
  • May 20, 2009 11:42am May 20, 2009 11:42am
i guess a good idea is to look at the premarkets numbers .if are green the move will be targetting the resistance if numbers are much more than minus 110 before starting the trading session on equities we will be heading to suport cause i am thinking the big guys know ahead wht the important guys want to say.

Quoting GlobalMacro
1.5592 break had strong follow-thru all the way up to well-above 1.5683.
Market liked Geithner speech .
Expanding momentum and pressure.

One of the trickiest times to trade is when someone of impact speaks...it can be cataclysmic.
  • #133,328
  • May 20, 2009 11:43am May 20, 2009 11:43am
EUR/GBP is falling and EUR/USD and GBP/USD are both rising.

The EUR/GBP should be used to compare the strength of the pound vs euro and vice versa, and if the dollar is weak, like this week, you match the strong and weak currencies together and away you go.
  • #133,329
  • May 20, 2009 11:45am May 20, 2009 11:45am
Does none observe that this big guys ,all of them want to inlfuence as much as they can the fx market .is it perhaps because they all are involve in it???????wild guess but Soros once said "is not important what you say but how much money you will earn over it" nice ))
  • #133,330
  • May 20, 2009 11:50am May 20, 2009 11:50am
The $ is weakening and the £ strengthening at the same time...

Quoting arif_endro
Cable is flying high, its dollar getting weaker or cable getting stronger? which one is right.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #133,331
  • May 20, 2009 11:54am May 20, 2009 11:54am
Quoting jibleanu
Does none observe that this big guys ,all of them want to inlfuence as much as they can the fx market .is it perhaps because they all are involve in it???????wild guess but Soros once said "is not important what you say but how much money you will earn over it" nice ))
Who do you think makes the trend? The big money. We have no influence on it.
  • #133,332
  • May 20, 2009 11:56am May 20, 2009 11:56am
The FX market has been extremely correlated to stock indices. The DOW double topped today.

These bear market rallies can only last so long before they fade.
  • #133,333
  • May 20, 2009 11:58am May 20, 2009 11:58am
FOMC MINUTES STILL PENDING,

what u guys think will it make some pressure on gbp,if it make watch free fall upto 1.5200 with out breaks...
because erugbp has made a triple bottom in daily charts n can shoot up as he is waiting for a moment....

always remember
"HAPPY TRADE PATIENCE PAYS"
LIVE LOVE LAUGH KRISHNA
  • #133,334
  • May 20, 2009 11:59am May 20, 2009 11:59am
I'm done trading today the easy money has already been made
  • #133,335
  • May 20, 2009 12:05pm May 20, 2009 12:05pm
I discovered some small 60min breakout strategy which i would like to share with some traders who are upset on losses.

What we see is the 60min chart of Gbp/Usd. Since yesterday`s trend was "UP", we will concentrate only on buying. This is a Breakout strategy and hence we will try and construct our chart with lines. Just use a vertical line and place it at 24:00 or 00:00 when the day ends and new day begins. Now look back and try to find the most recent high in the chart. Mark it as "A". Now find the most recent Low and mark it as "B". These are the points you should place trades. So, mark them with horizontal lines for your own reference. Place two trades as follows:

1. A long entry at point "A", with stop loss at point "B".
2. A short entry at point "B", with stop loss at point "A".

A good way is to trade little if the breakout is against trend and trade a little more, if the trend follows...

And now, we will see where to take profits...

1. Once you see a 60min candle completely away from the point of entry of the trade, be clever and move your stop loss to the entry point.
2. Wait for hours until you find 1 anti-trend candle (Bearish in this case). Don`t rush... just go for a walk and come back and look at the chart. When you see that the anti-trend candle has formed over the 60min chart, just close the trade and wait for the day to end. In this way, you limit your losses and grow your account over time.

Hope you find peace and wealth from now on. Remember, as i`ve said earlier, patience is the key to success.

good luck to all!.
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  • #133,336
  • May 20, 2009 12:12pm May 20, 2009 12:12pm
Which makes a nice bullish candle 2 days to go ...at res now mind you


Quoting Bones
The $ is weakening and the £ strengthening at the same time...
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #133,337
  • May 20, 2009 12:13pm May 20, 2009 12:13pm
most important thing at every system is to backtest it at least 8-9months before and with the strugle from the last year if your system work flawless means your system rock)))

Quoting zapper
I discovered some small 60min breakout strategy which i would like to share with some traders who are upset on losses.

What we see is the 60min chart of Gbp/Usd. Since yesterday`s trend was "UP", we will concentrate only on buying. This is a Breakout strategy and hence we will try and construct our chart with lines. Just use a vertical line and place it at 24:00 or 00:00 when the day ends and new day begins. Now look back and try to find the most recent high in the chart. Mark it as "A". Now find the most recent Low and mark it as...
  • #133,338
  • May 20, 2009 12:14pm May 20, 2009 12:14pm
Quoting jack.canadia
The FX market has been extremely correlated to stock indices. The DOW double topped today.

These bear market rallies can only last so long before they fade.
hey jack
I was reading the geithner speach and i had an idea pop into my head...could it be possible that this strong rise in the gbp is the banks selling there shorts to raise that 75 billion after the stress test?
  • #133,339
  • May 20, 2009 12:16pm May 20, 2009 12:16pm
Quoting jack.canadia
The FX market has been extremely correlated to stock indices. The DOW double topped today.

These bear market rallies can only last so long before they fade.
Hey Jack How is it going? My most conservative uptrend channel had said 1.545 as the upper limit to the upside - thats clearly been broken - I'm thinking now that Banks had a nice plan to get rid of their bad assetts by unloading it on tax payers - i.e. if the situation really wasnt as bad as everyone thought - so now everything is so excellent that they are paying TARP money back by causing a major dip by saying depression imminent and now going back up saying oh we didnt really need any money - weve made enough on the stock market and currencies and written off our bad debts by using tax payers money - plus made huge bonuses - doesnt that infuriate you guys? I still think lethargic recovery as I certainly am happy wearing my old clothes and making sure I make everything last 10 times longer as who needs to buy all this crap that these banks and companies are throwing at us. Buy cheap - no one cares anymore except in LA.
  • #133,340
  • May 20, 2009 12:25pm May 20, 2009 12:25pm
Quoting jibleanu
most important thing at every system is to backtest it at least 8-9months before and with the strugle from the last year if your system work flawless means your system rock)))
Ya, that`s right. Once i code it, i might be able to back-test it...
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