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Cable Update (GBPUSD)

  • #142,461
  • Jul 2, 2009 11:15pm Jul 2, 2009 11:15pm
Quoting eohater
it does not matter whether the london boys gang bang the dollar or the dollar gang bangs the london boys, either way its the london boys who have all the fun
  • #142,462
  • Jul 2, 2009 11:34pm Jul 2, 2009 11:34pm
Quoting forexlion
Zis is called scalper 1 min chart

even a dumb ass can pick up pips from there

Forexlion,

What are your settings for the xpMA indicator on the 1minute chart?

What about the 60 minute chart?

Thanks in advance for your help.

P.O.P.
  • #142,463
  • Jul 2, 2009 11:58pm Jul 2, 2009 11:58pm
Some Analysis

GBP/USD WAITING FOR PMI SERVICES Amidst all of the volatility in the currency market, what we find amazing is the fact that the British pound has held steady against the U.S. dollar. Unlike some of the other major currencies which collapsed against the dollar yesterday, GU remains caught well within its three week trading range. The currency pair is prime for a breakout and tomorrow’s service sector PMI report could provide the catalyst. Last month, activity in the service sector expanded for the first time since March 2008 with the index rising back above the pivotal 50 mark. If service sector activity grows for the second month in a row, it would offset some of the pessimism that emerged following the downward revisions to first quarter GDP growth. The PMI numbers provided a more “current” look into how the economy is doing. Manufacturing sector PMI continued to increased but remains in contractionary territory while construction sector PMI, which was released this morning dipped. After gaining some footing over the past few months, the housing market is beginning to struggle once again as credit is difficult to attain. If the PMI services index remains above 50 and especially if it rises above last month’s levels, we could not only see strength in pound against the dollar but also against the euro and Japanese Yen.

GBP/USD Currency in Play for Next 24 Hours
GU will be the currency in play for the next 24 hours. Due to upcoming holiday weekend the U.S. will not be releasing any economic data. However, U.K. will be releasing of Service PMI and BOE’s Housing Equity Withdrawal at 8:30GMT or 4:30AM EST. Over the past few weeks GU has lacked a sense of direction. Currently, the pair roams within the Range Trading Zone which we determine using Bollinger Bands. As volatility diminished with horizontal resistance acting as the resistance level and higher lows continuing to be established, the pair has carved out an ascending triangle formation. If the pair manages to enter the Buy Zone of the Bollinger Bands 1.6650 will serve as resistance. A break of that level could take the currency pair to the psychologically important 1.70 mark. However, if the pair drifts lower the next level of support lingers between 1.6300 and 1.6325, which are the base of the ascending triangle and 1st Standard Deviation, respectably. A break below that level opens the door for a possible move down to 1.60.

http://gftnet.gftforex.com/images/co...%2002%2009.jpg
  • #142,464
  • Jul 3, 2009 12:00am Jul 3, 2009 12:00am
Quote
Pee Ohhhhhhh Pee
I use standard settings for all time frames, kindly go through threads started by me for the settings and indicators used.

or use this template
Attached File(s)
File Type: tpl peeohhhpee.tpl   2 KB | 277 downloads
  • #142,465
  • Edited 12:05am Jul 3, 2009 12:03am | Edited 12:05am
Quoting davids
Some Analysis

GBP/USD WAITING FOR PMI SERVICES Amidst all of the volatility in the currency market, what we find amazing is the fact that the British pound has held steady against the U.S. dollar. Unlike some of the other major currencies which collapsed against the dollar yesterday, GU remains caught well within its three week trading range. The currency pair is prime for a breakout and tomorrow’s service sector PMI report could provide the catalyst. Last month, activity in the service sector expanded for the first time since...
MORNING DAVIDS,

Thankyou for a great post, clear, concise and to the point. excellent.

Chhers
  • #142,466
  • Jul 3, 2009 12:06am Jul 3, 2009 12:06am
Quoting forexlion
I use standard settings for all time frames, kindly go through threads started by me for the settings and indicators used.

or use this template
Morning Forexlion.
  • #142,467
  • Jul 3, 2009 12:07am Jul 3, 2009 12:07am
Quoting pjpipster
Morning Forexlion.
Morning kind sir
  • #142,468
  • Jul 3, 2009 12:10am Jul 3, 2009 12:10am
1.6375 to 1.6329 when will this train run ??????????????//
  • #142,469
  • Jul 3, 2009 12:27am Jul 3, 2009 12:27am
Quoting forexlion
1.6375 to 1.6329 when will this train run ??????????????//

hehehe mate u run from auslanco why? i miss u anyway.
MY OPINION NOT FINANCIAL ADVISE
  • #142,470
  • Jul 3, 2009 12:28am Jul 3, 2009 12:28am
Quoting forexlion
1.6375 to 1.6329 when will this train run ??????????????//
Are these entries? If so for long or short? or waiting a break either way?
  • #142,471
  • Jul 3, 2009 12:53am Jul 3, 2009 12:53am
Congratulation Albchr,

Could you recommend a book which you found useful or say a bit more about the corelation which you had study 18 hours a day por months - PA via the James 16 thread, please? Where can I find anything about it?

Best regards,
London Trader

Quoting albchr
Absolutely Jack. I have to be pretty darn sure of things to do what I did today. Pretty consistent over the last few weeks playing the range. I take large lots but kill them quick if not going my way.

While it's never 100% sure, having learned well PA via the James 16 thread (that's been the studying 18 hours a day for months) I'm pretty confident about the "likely" direction in price.

I have a saying.....

"Forex is not a gamble once you've learned. It's like taking candy from a baby. But you have to remember that baby has teeth and every...
Discomfort and profit often stand side by side
  • #142,472
  • Jul 3, 2009 12:55am Jul 3, 2009 12:55am
Quoting pjpipster
Are these entries? If so for long or short? or waiting a break either way?
waiting only
  • #142,473
  • Jul 3, 2009 12:57am Jul 3, 2009 12:57am
Quoting donfriday
hehehe mate u run from auslanco why? i miss u anyway.
i trade what moves GU was moving so i came here, now GJ is moving so i will go there simple
  • #142,474
  • Jul 3, 2009 1:03am Jul 3, 2009 1:03am
Quoting forexlion
i trade what moves GU was moving so i came here, now GJ is moving so i will go there simple

LOL, simple is best.
  • #142,475
  • Jul 3, 2009 1:08am Jul 3, 2009 1:08am
Quoting forexlion
i trade what moves GU was moving so i came here, now GJ is moving so i will go there simple
i think i said it too loudly, GJ simply moved its butt like a mad bull there
  • #142,476
  • Jul 3, 2009 1:12am Jul 3, 2009 1:12am
is that a bull trap
  • #142,477
  • Jul 3, 2009 1:12am Jul 3, 2009 1:12am
Hi Nisda,

What does it mean for us? It in the US is Bank Holiday the GBP will get stronger? or it not depend on that.... or something else? Could you tell...

Thx,
LT
Quoting Nisda_
US Banks Holiday today
Discomfort and profit often stand side by side
  • #142,478
  • Jul 3, 2009 1:14am Jul 3, 2009 1:14am
Quoting forexlion
i think i said it too loudly, GJ simply moved its butt like a mad bull there
and that move added 2,000 more pips to my tally, time to shower now
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 14 KB
  • #142,479
  • Jul 3, 2009 1:16am Jul 3, 2009 1:16am
Quoting LondonTrader
Hi Nisda,

What does it mean for us? It in the US is Bank Holiday the GBP will get stronger? or it not depend on that.... or something else? Could you tell...

Thx,
LT
it means that after 1200 hours GMT trading will be boring, better to call it an early weekend
  • #142,480
  • Jul 3, 2009 1:22am Jul 3, 2009 1:22am
Quoting forexlion
and that move added 2,000 more pips to my tally, time to shower now
Go Hard or Go Home i say. nice work Sir.
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