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Cable Update (GBPUSD)

  • #147,621
  • Jul 19, 2009 8:36am Jul 19, 2009 8:36am
Quoting albchr
First month anyway. Long term yet to be seen. I never gambled either man. Was always able to rely on what my two hands could do.

Thanks man! From your keyboard to the Forex Gods eyes....

Come on Chris - every time you ride that monster bike of yours you are gambling with more than money, but you reduce the risk - right - same as forex..

Yeah this is gambling but that don't mean its bad or that we should feel guilty about it - that to Nav.
  • #147,622
  • Jul 19, 2009 8:40am Jul 19, 2009 8:40am
Agree, money need to go directly to the public. (Though not sure about your number 340 million time a million = ?? )

A lot of things here are not right. Our politicians in this age seem to have forgotten the principles we started out as a nation- minimum governance, minimum taxes, entrepreneurship etc.

See they are sending out 15 dollars a week as stimulus payment. My frikkin toll payment is more than that. What a sham, what a joke!!

Quoting albchr
What's ironic is 800 Billion in stimulus that won't do anything but put us in more debt. Now if they just gave 1 million to each household (a mere 340 million), imagine the spending that would be happening right now....LOL

I've written letters to ALL reps suggesting this for years. Always get nothing but that cute little form letter back.....
Its all in the mind.
  • #147,623
  • Jul 19, 2009 8:41am Jul 19, 2009 8:41am
Quoting stewrigh
Come on Chris - every time you ride that monster bike of yours you are gambling with more than money, but you reduce the risk - right - same as forex..

Yeah this is gambling but that don't mean its bad or that we should feel guilty about it - that to Nav.

LOL...naa...that's no gamble at all. Been riding since I was 4. Grew up racing dirt bikes.

If I had 1/1000 the SKILL in Forex that I have in riding, I'd be filthy rich in a MONTH starting with 10 bucks....
Ghost Rider - WWTBMD?
  • #147,624
  • Jul 19, 2009 8:46am Jul 19, 2009 8:46am
Quoting 5abi
Agree, money need to go directly to the public. (Though not sure about your number 340 million time a million = ?? )

A lot of things here are not right. Our politicians in this age seem to have forgotten the principles we started out as a nation- minimum governance, minimum taxes, entrepreneurship etc.

See they are sending out 15 dollars a week as stimulus payment. My frikkin toll payment is more than that. What a sham, what a joke!!

Yea...whoops...REAL bad math....

Still though, it would be less than the debt being piled up now. I don't care what they do to save the big 3, with all the jobs being lost, if we can't afford to buy the product, it does no good at all. Going further into debt via credit to do so, isn't going to help.
Ghost Rider - WWTBMD?
  • #147,625
  • Jul 19, 2009 8:50am Jul 19, 2009 8:50am
Quoting albchr
LOL...naa...that's no gamble at all. Been riding since I was 4. Grew up racing dirt bikes.

If I had 1/1000 the SKILL in Forex that I have in riding, I'd be filthy rich in a MONTH starting with 10 bucks....
Wow, what kind of skill you have in riding? Can u ride upside down?
Great Bodies are Engineered not Born
  • #147,626
  • Jul 19, 2009 8:54am Jul 19, 2009 8:54am
I am not sure about Albchr but I am very attuned to a few words if they come out of a lady's mount/and/or pen...like riding.

Usually we all guys are very good at riding. and we can ride upside down, sideways, downside up etc etc.



Quoting RichLadyFX
Wow, what kind of skill you have in riding? Can u ride upside down?
Its all in the mind.
  • #147,627
  • Jul 19, 2009 8:57am Jul 19, 2009 8:57am
Quoting RichLadyFX
Wow, what kind of skill you have in riding? Can u ride upside down?
Well I guess that would depend on the type of "riding" we're talking about, wouldn't it....

But yep, I been upside down a few times on a bike....
Ghost Rider - WWTBMD?
  • #147,628
  • Jul 19, 2009 9:04am Jul 19, 2009 9:04am
You guys are crazy.

Please Lord...

Forgive the wandering minds.
Great Bodies are Engineered not Born
  • #147,629
  • Jul 19, 2009 9:07am Jul 19, 2009 9:07am
Quoting 5abi
I am not sure about Albchr but I am very attuned to a few words if they come out of a lady's mount/and/or pen...like riding.

Usually we all guys are very good at riding. and we can ride upside down, sideways, downside up etc etc.

  • #147,630
  • Jul 19, 2009 9:11am Jul 19, 2009 9:11am
Quoting RichLadyFX
You guys are crazy.

Please Lord...

Forgive the wandering minds.

RL - I think you are letting ur imagination run away with you.

We were talking about bikes - what did you think we meant.
  • #147,631
  • Jul 19, 2009 9:11am Jul 19, 2009 9:11am
Quoting RichLadyFX
You guys are crazy.

Please Lord...

Forgive the wandering minds.

Wandering smandering...we knew what you meant...LOL
Ghost Rider - WWTBMD?
  • #147,632
  • Jul 19, 2009 9:13am Jul 19, 2009 9:13am
Quoting albchr
What's ironic is 800 Billion in stimulus that won't do anything but put us in more debt. Now if they just gave 1 million to each household (a mere 340 million), imagine the spending that would be happening right now....LOL

I've written letters to ALL reps suggesting this for years. Always get nothing but that cute little form letter back.....

Funny thing is, it's ours (tax payers) money anyway...

Yeah and thats the biggest gamble for a long time and its US politicians gambling with ur money.
  • #147,633
  • Jul 19, 2009 9:19am Jul 19, 2009 9:19am
Quoting stewrigh
Yeah and thats the biggest gamble for a long time and its US politicians gambling with ur money.
That's no gamble in my book. It's a sure LOSS!!
Ghost Rider - WWTBMD?
  • #147,634
  • Jul 19, 2009 9:39am Jul 19, 2009 9:39am
The way the US government spends the money in so called stimulus packages ( mostly in bailouts) is no different than the rest of the world. Maybe thats the best way, only the impacts yet to be seen.
Great Bodies are Engineered not Born
  • #147,635
  • Jul 19, 2009 9:49am Jul 19, 2009 9:49am
Quoting RichLadyFX
The way the US government spends the money in so called stimulus packages ( mostly in bailouts) is no different than the rest of the world. Maybe thats the best way, only the impacts yet to be seen.
Precisely the problem! But I'll not debate that here. Far too long and deep a political discussion.

Think I'll go eliminate any risk now and take a nice ride in the sunshine!

See you all in the London session...
Ghost Rider - WWTBMD?
  • #147,636
  • Jul 19, 2009 9:58am Jul 19, 2009 9:58am
Quoting albchr
Precisely the problem! But I'll not debate that here. Far too long and deep a political discussion.

Think I'll go eliminate any risk now and take a nice ride in the sunshine!

See you all in the London session...
Yeah, born to ride.

See u later.
Great Bodies are Engineered not Born
  • #147,637
  • Jul 19, 2009 10:28am Jul 19, 2009 10:28am
Chart 1:

This Monthly chart shows me that the 2005,06,07 breakout was false. The sebsequent fall back into the original downtrend has just retested the UTL. A major fall can be expected from here according to PA.

Chart 2:

Zooming in on the Monthly we see the following PA:
1: Breakthorough the UTL, the retest and support.
2: At completion of this candle ready to load longs for the Bull rally.
3: Distribution, ready to offload all long positions.
4: UTL has failed, showing the false breakout and resumption of downtrend, loading Shorts.
5: Doji at 1.42 and subsequent bullish candle was warning to offload Shorts and await retest of UTL.
6: UTL being retested, loading Shorts from here whilst watching the formation of a Bearish Hammer, but this candle still has 2 weeks left before completion. Short “Scouts” placed to determine strength of moves. Once move begins to accelerate, max. Shorts will be scaled in with 1st targets at centre of Downtrend channel.


Chart 3: Weekly shows me the best places to scale in more shorts on the trip down. This area we are is currently where I am loading again, I expect any break North form here to be limited and unsustainable due to Monthly downtrend UTL. PA ATM supports my Short position.

Chart 4: My daily chart has been posted before, but helps show me where distribution has been occurring.

Chart 5: I am ready to load more Shorts, so I zoom down to the 1hr looking for good entries. Looking at movements during the hours of 0500-0900 GMT shows me where the market is trying to take me:
1. Watched as maket tried to break South, but traders brought Price back and to the Upside. Need to see how far this will rise.
2. Same again on day 2, waiting...
3. Same again day 3, waiting...
4. Shows reversal pattern and stalling, waiting for confirmation.
5. Shows stalling at day 3’s highs, double top forming, waiting to enter...
6. Shorts entered at 16422, waiting to add more from here. Day completes inside the European Trading Range so expect volatility and extreme move within the next few trading sessions. UTL holds, quick Stop Loss hunt in last 2 hours of trading shows me Traders looking for last minute better entry. Shorts will be held until 16600 broken and closed above on Daily.


Happy Trades.
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  • #147,638
  • Jul 19, 2009 10:32am Jul 19, 2009 10:32am
Quoting albchr
Precisely the problem! But I'll not debate that here. Far too long and deep a political discussion.

Think I'll go eliminate any risk now and take a nice ride in the sunshine!

See you all in the London session...
Well its an economic discussion rather than political, but I got back from the UK yesterday and they are doing all the same stuff with subsidies for people to buy a new car and VAT cuts etc - the fly guys will game the government and do well out of all that stuff but its a transfer of wealth from the dopey taxpayers to the switched on people. That's a long term effect as taxes will not rise until the mess stabilises.

I have been reading some company reports in the US and this mess is not going away soon - the credit isn't there to refinance long term loans coming due 2010 to 2014 and even profitable companies will fail. Profitable companies have always failed due to cash flow problems , even in normal credit environments. This time it will be much worse.

I am scaling back my equities and putting stop losses under them

Whats that to do with exchange rates ? nothing, except that if the economies do get worse, the 'reserve currency' label on the USD will become more prominent again, so I am not going big on other currencies until the fog starts to clear
  • #147,639
  • Jul 19, 2009 10:46am Jul 19, 2009 10:46am
Quoting allserene
Well its an economic discussion rather than political, but I got back from the UK yesterday and they are doing all the same stuff with subsidies for people to buy a new car and VAT cuts etc -....
I agree with everything you said but I do think it's a political discussion as it's the idiot politicians who know NOTHING about business and economics calling the shots and basically throwing darts blindfolded IMHO.

I'm no business expert by any means but I have run my own construction company for 30 years since age 16 and I know enough to say the way they're going, isn't the right way....LOL

But you make very valid points and sadly, I must agree with your projections.

Anyway, really outta here now....LOL... the sunshine is calling....
Ghost Rider - WWTBMD?
  • #147,640
  • Jul 19, 2009 10:54am Jul 19, 2009 10:54am
Quoting allserene
Well its an economic discussion rather than political, but I got back from the UK yesterday and they are doing all the same stuff with subsidies for people to buy a new car and VAT cuts etc - the fly guys will game the government and do well out of all that stuff but its a transfer of wealth from the dopey taxpayers to the switched on people. That's a long term effect as taxes will not rise until the mess stabilises.

I have been reading some company reports in the US and this mess is not going away soon - the credit isn't there to refinance long...

But according to the news, it's all rosey here in the UK, boom market again.

This is ofcourse all totally lies, it's going to take years for this reccession rapidly becoming a depression to sort itself out and requires a period of Super inflation which hasn't even started yet.

I imagine this is world wide to!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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