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Cable Update (GBPUSD)

  • #150,801
  • Jul 25, 2009 4:44am Jul 25, 2009 4:44am
Quoting AstonDan
To borrow from Wasp...

Attachment
You see, lately horiztonal resistance and support has been ok for bounces. Generally though, it just gets through it after a bounce then heads straight to the other end of the channel etc.

So I didn't bother drawing horizontal in apart from the extremes.

When I get back I'll be doing other markets for 2-5 weeks. Then I'll probably be too busy after that. How's your w/e?
  • #150,802
  • Jul 25, 2009 4:50am Jul 25, 2009 4:50am
Quoting KillPhil08
How's your w/e?
Watching the F1 qualifying at the mo.

Emailed you yesterday from my Crackberry but doesn't seem to be getting through. No worries, nothing important, just dickin' about on a Friday afternoon.
  • #150,803
  • Jul 25, 2009 7:41am Jul 25, 2009 7:41am
Quoting Bones
Its a PPZ for def chris but the weekly trumps it infact I wouldn't be suppried if we open over.There where no sellers in the last week whatsoever.Or the week before.3 solidiers hits target.
sorry disagree with that ... if no sellers and dj broke years highs how comes gj closed the week 300 pips under the years highs ? seems simple to me.....

also note dj daily .. the price has move up last 11 day on declining vol and we have met that resistance level. there is also bearish divergence on daily. Next week we will see pull back . 11 day straight and no retrace based on paracticly fumes is all ......smells like one big fat bull trap.

also your not on no sellers .....

why the doji on massive volume for the week ???? that is NOT buyers i will tell you that much ...that is selling pressure on the markets. Now I am not saying yet that for sure we will head down as we need to wait for next week to see reaction to this week (effort verus result)

the fellow that is long 6400 hope you have stop that suits your risk management chances are very high it is going to be hit

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Blogging daily now at www.volume.zone
  • #150,804
  • Jul 25, 2009 7:47am Jul 25, 2009 7:47am
ok what the hell ....

25 banks failed 2008 ..... according to fdic list

64 so far this year ......

but why ? I thought banks were making loads of cash ......

lol ... oh my the poor retail investor who thinks the market is great is going to have one nasty surprise soon
Blogging daily now at www.volume.zone
  • #150,805
  • Jul 25, 2009 7:50am Jul 25, 2009 7:50am
Quoting malcolmb14
ok what the hell ....

25 banks failed 2008 ..... according to fdic list

64 so far this year ......

but why ? I thought banks were making loads of cash ......

lol ... oh my the poor retail investor who thinks the market is great is going to have one nasty surprise soon
It's typical for over-reactions to good news in a bear market. In some sick way I'm hoping they are calling this a bull market. Then in months to come when they see everyone has run out of savings and are totally unemployable the market tumbles (ie. bad news in bull market = crash).

Like market ticker guys says, they are only getting rid of variable costs, not fixed!
  • #150,806
  • Jul 25, 2009 8:13am Jul 25, 2009 8:13am
Well I not sure about volume ,its beyond me .
I do know that volume was way higher in in the first candle in the weekly Bull Run because it was significantly larger than all others which = higher volume
Of course there were actual traders trying to sell but every sell order has been met with a buy for the last 2 weeks ,I mean no top or bottom wick at all ...
Maybe the trick is the other way and cable has to play catch up.

Quoting malcolmb14
sorry disagree with that ... if no sellers and dj broke years highs how comes gj closed the week 300 pips under the years highs ? seems simple to me.....

also note dj daily .. the price has move up last 11 day on declining vol and we have met that resistance level. there is also bearish divergence on daily. Next week we will see pull back . 11 day straight and no retrace based on paracticly fumes is all ......smells like one big fat bull trap.

also your not on no sellers .....

why the doji on massive volume for the week ???? that is NOT buyers...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,807
  • Jul 25, 2009 8:13am Jul 25, 2009 8:13am
Quoting Bones
The pound is on a Nice rising TL ,and the approach makes me think it will hold ,this time..
as always i agree with your analysis buddy..its exactly how i see it..
cable is in a trading range..and the dailly may have found the top of the range but the lows are still higher..weekly is still bullish assuming gap down isnt to big
  • #150,808
  • Jul 25, 2009 8:20am Jul 25, 2009 8:20am
..Read this..

http://www.cnbc.com/id/32122827
Its all in the mind.
  • #150,809
  • Jul 25, 2009 8:25am Jul 25, 2009 8:25am
Also the daily candle was more a hanging man but still it dose not look bearish.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,810
  • Jul 25, 2009 8:26am Jul 25, 2009 8:26am
US Government has pumped in a lot of money into the system. All this equity rally and stuff is just people like goldmen trading and making billions. Average guy like u and me are hoarding cash. The banks have that have failed are mostly local small banks that depend on local commuities.towns for survival they are not like goldmen that trade/speculate globally. The moment the govet money runs out this thing will come down.

Good news is out there but it is being caused by the government money. US is being effectively being ruled by one party socialists right now.

If I were a smart person, I would make as much money as I can in next 4-6 years and run off to some asian country like Singapore or new zealand.

This is not being unpatriotic or anything, but this is just that I dont feel like fighting with the GODS here. This is now going to be a 10-15 year recession like we had in 1970's.


Quoting malcolmb14
ok what the hell ....

25 banks failed 2008 ..... according to fdic list

64 so far this year ......

but why ? I thought banks were making loads of cash ......

lol ... oh my the poor retail investor who thinks the market is great is going to have one nasty surprise soon
Its all in the mind.
  • #150,811
  • Jul 25, 2009 8:27am Jul 25, 2009 8:27am
Because 9000 has been taken
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,812
  • Jul 25, 2009 8:31am Jul 25, 2009 8:31am
forexlion may i know what indicators you are using ?
  • #150,813
  • Jul 25, 2009 8:31am Jul 25, 2009 8:31am
Hey Nav,yea Monday is important here it need to be bullish enough to take us away from TL.

Quoting nAVIN2007
as always i agree with your analysis buddy..its exactly how i see it..
cable is in a trading range..and the dailly may have found the top of the range but the lows are still higher..weekly is still bullish assuming gap down isnt to big
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,814
  • Jul 25, 2009 8:40am Jul 25, 2009 8:40am
I always agree with your analysis too buddy
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,815
  • Jul 25, 2009 8:56am Jul 25, 2009 8:56am
Quoting Faryad
forexlion may i know what indicators you are using ?
i don't babysit, search
  • #150,816
  • Jul 25, 2009 8:57am Jul 25, 2009 8:57am
Last time we were over 9000 it was rejected quick...it has not ...yet ..if it is I am wrong.

Quoting Bones
Because 9000 has been taken
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #150,817
  • Jul 25, 2009 9:02am Jul 25, 2009 9:02am
Quoting learntowin
Thank you WB and All

I am still wonder

Why the DEAD USD has not died yet ?

Down with the USD

Have a nice Weekend all

TKS
kindly explain your statement in detail with charts

will they start minting usd in hell also ?

how do you know hell so nicely, have you been there ?
  • #150,818
  • Jul 25, 2009 9:06am Jul 25, 2009 9:06am
August month will be critical for dow, i see a drop forming already, July 27-31 should give a better idea
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  • #150,819
  • Jul 25, 2009 9:10am Jul 25, 2009 9:10am
Quoting forexlion
August month will be critical for dow, i see a drop forming already, July 27-31 should give a better idea
another chart with a clearer pic
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  • #150,820
  • Jul 25, 2009 9:17am Jul 25, 2009 9:17am

  1. Monday first thing should be a kiss of 1.6383
  2. Should it break 1.6383 which is doubtful at the moment because of a strong daily support below this on which it has already bounced twice
  3. But should it break this level, then we could see some tanking

But

 

  1. I am entirely in favor of tight range trading
  2. So keep scalping off 5 min charts, and forget big targets
  3. Collect 5 or 10 pips per trade and be happy

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