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Cable Update (GBPUSD)

  • #153,241
  • Jul 30, 2009 6:47pm Jul 30, 2009 6:47pm
a bit of release for now but for How long ???
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  • #153,242
  • Jul 30, 2009 6:48pm Jul 30, 2009 6:48pm
And yes dont for a second think that price is not moved to a point just before these major release where a killing can be made. that is to say, if numbers are gonna be bad, I would move it as high as posible in the other direction so that I can make a killing. If you saw my USD-YEN call a few days ago when they dropped it dead and then picked up 250 pips in 24 hours you will know what I mean.
Its all in the mind.
  • #153,243
  • Jul 30, 2009 6:51pm Jul 30, 2009 6:51pm
Quoting 5abi
technically it is possible, it has been wanting to break that from some days now. so it could. If I was so sure, I would bet all my account on the short ATM with a stop at 6636.

But real question is does anyone wanna buy it at this level? Do I want to be long GU at 6520 when the USD GDP is just hours away? I think that is too much exposure. SO best will be to either stay out or go short as close as possible to the 6600 resistance. if you lose then you dont lose big.
Let I ask you an question about US GDP as you said ok.

There are two scenarios that it may be good news or bad news. I personally think it is good. So Could you tell me How the market (GU in this case) work out with each scenario as your views?

Thanks.
  • #153,244
  • Jul 30, 2009 6:52pm Jul 30, 2009 6:52pm
Quoting Lejumeau
a bit of release for now but for How long ???
so that is what is a dharma pivot? what is the thought behid this? H+L+C/3 etc??
Its all in the mind.
  • #153,245
  • Jul 30, 2009 6:56pm Jul 30, 2009 6:56pm
Quoting 5abi
so that is what is a dharma pivot? what is the thought behid this? H+L+C/3 etc??
Have no idea what is the calculation but one thing I know it does work good you can see that I didn't folow my strategy the darma open and price stay above so I should hae close my short with a small profit and reverse long for at lease to the high of the day as a profit target that is what the darma was telling me but I dindn't listen to him

it give you the short direction rigth a the close of the day and if the market keep going well you are on the rigth side.
  • #153,246
  • Jul 30, 2009 6:57pm Jul 30, 2009 6:57pm
Okay, lot of people think that when News is good USD will strenghthen. That is also right, but generally when news is such that it puts US in a better position. For example a news that says US will be recession free sooner than other nations will benefit USD.

But other good news like a good US GDP means people start taking more risks-so at these times I would be rather short on USD and long on higher yielding currencies/investements. But when US comes out with bad news, people will stock pile on USD and JPY. These are safe haven currency. Reserves are held in these notes so they are best bets for recessions etc.

Quoting Pham
Let I ask you an question about US GDP as you said ok.

There are two scenarios that it may be good news or bad news. I personerly think it is good. So Could you tell me How the market (GU in this case) work out with each of scenario as your views?

Thanks.
Its all in the mind.
  • #153,247
  • Jul 30, 2009 6:57pm Jul 30, 2009 6:57pm
Quoting albchr
Actually, move your stop just a little higher, I'd LOVE to see this get to 6550 where I can load a couple BIG lots in before she dives to 6300 and beyond.....


Currently short 6520. Looks like I may get my wish after all...
Ghost Rider - WWTBMD?
  • #153,248
  • Jul 30, 2009 6:58pm Jul 30, 2009 6:58pm
Quoting 5abi
so that is what is a dharma pivot? what is the thought behid this? H+L+C/3 etc??
Yep...
Ghost Rider - WWTBMD?
  • #153,249
  • Jul 30, 2009 7:02pm Jul 30, 2009 7:02pm
Excuse the ignorance of this newbie question but its really doing my head in: from what time does everyone take a day trading GU in order to calculate pivot points. I was just doing midnight to midnight BST (ie rolling 24 hours) but wonder whether it should be based on just London or NY opening hours.

Your help is very much appreciated.
  • #153,250
  • Jul 30, 2009 7:06pm Jul 30, 2009 7:06pm
Quoting singingfx
Excuse the ignorance of this newbie question but its really doing my head in: from what time does everyone take a day trading GU in order to calculate pivot points. I was just doing midnight to midnight BST (ie rolling 24 hours) but wonder whether it should be based on just London or NY opening hours.

Your help is very much appreciated.
well the one I use it is base on the us session the pivot are calculate at 5:01pm eastern time wich is the new daily candle open
  • #153,251
  • Jul 30, 2009 7:10pm Jul 30, 2009 7:10pm
i see it's closing higher and higher on each candle on M 30 and H 1

two things i see either kill all the longs guys which might be 70% correct
and then wait to drop like a bomb shell to kill this guys


or it could be a sure sign of shorting ( which i really hope its the real sign)

Lets see what the Mega @ Maniac Friday brings us Today. As the saying goes

"Time will answer everything"

May The Green Pips is with Everyone !!!
  • #153,252
  • Jul 30, 2009 7:12pm Jul 30, 2009 7:12pm
Thanks for the speedy response.

Just a thought, is there any sense/usefulness in re-calculating daily pivots for London market and then US market?

(PS you seen cable. long, short, long, short. which way??)

(PPS I'm staying out and going to bed 3am in London)
  • #153,253
  • Jul 30, 2009 7:14pm Jul 30, 2009 7:14pm
This is also a forex thing that is apparent but still hidden. Forex is not really "Open" 24X7. See what the most active sessions are. I would say 2 AM EST to may be 1 PM EST. After that it is just lackadaisical.

World markets still sing the NYSE TUNE (thoguh this recession has seen major moves in asian session too), so it is more logical to calculate pivots based off newyork close. other things are like triple interests on wednesdays are paid basedoff 5 PM EST etc. but you may try the 3 major sessions and see which ismore accurate. US pivot work well for me

Btw where is richladyFX? Did she switch forums or won the lotto?



Quoting singingfx
Excuse the ignorance of this newbie question but its really doing my head in: from what time does everyone take a day trading GU in order to calculate pivot points. I was just doing midnight to midnight BST (ie rolling 24 hours) but wonder whether it should be based on just London or NY opening hours.

Your help is very much appreciated.
Its all in the mind.
  • #153,254
  • Jul 30, 2009 7:16pm Jul 30, 2009 7:16pm
Quoting albchr


Currently short 6520. Looks like I may get my wish after all...
Al, u still shortin'?
  • #153,255
  • Jul 30, 2009 7:20pm Jul 30, 2009 7:20pm
Quoting gebuzor
Al, u still shortin'?
Roger that....
Ghost Rider - WWTBMD?
  • #153,256
  • Jul 30, 2009 7:22pm Jul 30, 2009 7:22pm
I approve this message

Quoting albchr
Roger that....
Its all in the mind.
  • #153,257
  • Jul 30, 2009 7:28pm Jul 30, 2009 7:28pm
I just closed half my shorts at -26 pips because I just have a feeling this is headed up past 1.660. Nothing to prove on the charts....just a feeling.
  • #153,258
  • Jul 30, 2009 7:28pm Jul 30, 2009 7:28pm
still hangin there
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  • #153,259
  • Jul 30, 2009 7:31pm Jul 30, 2009 7:31pm
Quoting Piece Of The Pie
I just closed half my shorts at -26 pips because I just have a feeling this is headed up past 1.660. Nothing to prove on the charts....just a feeling.

Look at USD / JPY. USD is getting weaker and weaker.
  • #153,260
  • Jul 30, 2009 7:32pm Jul 30, 2009 7:32pm
Quoting Lejumeau
still hangin there
Hello,
Question to you, is it going against your system to short above pivots. I mean its doing higher lows on 1h and ascending triangle. I am not confident top short even though I fully understand the resistance here.
Thanks
Sunny
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