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Cable Update (GBPUSD)

  • #154,061
  • Aug 2, 2009 11:09am Aug 2, 2009 11:09am
Quoting GlobalMacro
I have the highest respect for you my friend....you are a true achiever and a tenacious one at that...fight on!

Ghost Rider - WWTBMD?
  • #154,062
  • Aug 2, 2009 11:23am Aug 2, 2009 11:23am
Quoting gammase1
Come on Malc, I expect a little more accuracy from you, rather than this...

The poster made a wild accusation that GS were behind Cable's big move on Friday. This is complete and utter fantasiful, conspiratorial nonsense, as well you know?? It shows a complete lack of understanding behind the true dynamics of the gigantial FX market. Still, it makes a better internet tale to think of some anonymous GS trader sitting behind his desk with an evil plan laugh, screwing the decent guys on this forum who trade Cable.

If GS traders had any sense,...
so lets see

usd move was based on :
1) treasury auction
2) oil ripping up
3) comment by IMF (of which GS is stake holder) about the usd being overvalues.
4) DJ moving up 300 points causing money to be moved from treasuries

EVERYTHING IN THIS MARKET IS DESIGNED FOR SOMETHING , could it be that someone was behind the move on Friday and it was some form of mark up ? I mean the move down in the USD index was on low volume. note how many in here are so bullish now.

there is no random walk

as you said we just have to trade what is in front of you on your charts
Blogging daily now at www.volume.zone
  • #154,063
  • Aug 2, 2009 11:31am Aug 2, 2009 11:31am
HI Matjaz

I don`t know about this week but I watched a monthly/weekly charts and found out that over last 20 years periot GBPUSD was below 38.2% Fib grid and only 6 years above. More over only twice exeded 50% and in both cases return around 16090 level. As an average it took 13 weeks to came back to this level - somethimes it was quicker. I don`t know how past might work for the future...just a thought

LOndon Trader
Quoting matjaz1982
Can we expect a fall in GBP / USD this week?
Thanks for your help.
Attached Image (click to enlarge)
Click to Enlarge Name: monthly.gif Size: 40 KB
Discomfort and profit often stand side by side
  • #154,064
  • Aug 2, 2009 11:32am Aug 2, 2009 11:32am
Quoting nAVIN2007
Paul is a fantastic fundamentalist..incase u never knew this..u guys to take this to a whole new level dicussing yur fundamental approach....

i personally cant see any reason for the pound to be bullish above 1.72..people are losing job left right and centre..sales forces are closing..50% retrace level is around there and i see a ranging market with a possible breakout to the top side...in the distant future

fundamentally i have no clue thou..except UK is in a pit!
think fundies and lose your account.

The dj up 15% on matter of 2 weeks based on eps being beat when those eps were set very low. It is not rising on jobs being created etc etc

now they have come up with another way to hold the car industry up by giving 4500 k for trade ins on the TAX PAYERS backs. i think the 1st 2 billion was chewed up and now senate are spending another 2 billion.
I could go on and on about fundies in the US and how this rally in the us stock markets based on the fundies in the US is a perfect storm for disasters. Think the 1st down move was fast. If another large down move happens in the markets it will be very fast and it will take ALONG time for recovery.

all we can do is trade what we see on the charts with the systems we use
Blogging daily now at www.volume.zone
  • #154,065
  • Edited 11:46am Aug 2, 2009 11:35am | Edited 11:46am
i have been looking at chart for different currencies i see no obvious setup this cable monthly chart suggest we might have found adequate resistance...

i dont trust August...tony if your around buddy ..do u not think we found resistance here?

one of the chart 2nd is zoomed in

it looks pretty tough resistance to me but dollar strength looks a bit weak
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  • #154,066
  • Aug 2, 2009 11:43am Aug 2, 2009 11:43am
Hi Chris

Where is your lovely picture bro? I coudn`t recognise you. It was better with - me think

London Trader


Quoting albchr
Well, I don't know how accurate this site is but it's "supposed" to be live price 24/7 I think. http://www.forex-markets.com/quotes.htm

Right now it says price sits at 6711 as it has all weekend. Close on my platform Friday was 6703. Highest in this range is 6742. If it opens above that, PA "might" be trying to tell us it's going up.

But I'll reserve any judgments for at LEAST several hours after open tonight. Starting with 25% less this month means I have to be ever so careful...lol

EDIT: It seems someone pulled...
Discomfort and profit often stand side by side
  • #154,067
  • Aug 2, 2009 11:54am Aug 2, 2009 11:54am
Quoting LondonTrader
Hi Chris

Where is your lovely picture bro? I coudn`t recognise you. It was better with - me think

London Trader
Hey LT, I thought I'd make up something that more reflects my style of trading. So it fits....I'm looking CLOSE for S/R + PA "Just Finding My Way".

Serves as a reminder that, losing that focus is what cost me so much last month....
Ghost Rider - WWTBMD?
  • #154,068
  • Aug 2, 2009 12:00pm Aug 2, 2009 12:00pm
It is a pain I know and understand why have you changed image...Good luck to us

Lt
Quoting albchr
Hey LT, I thought I'd make up something that more reflects my style of trading. So it fits....I'm looking CLOSE for S/R + PA "Just Finding My Way".

Serves as a reminder that, losing that focus is what cost me so much last month....
Discomfort and profit often stand side by side
  • #154,069
  • Aug 2, 2009 12:02pm Aug 2, 2009 12:02pm
Quoting LondonTrader
It is a pain I know and understand why have you changed image...Good luck to us

Lt

Good trading to us bro.....

If I have to depend on luck, I'm DOOMED.....
Ghost Rider - WWTBMD?
  • #154,070
  • Aug 2, 2009 12:05pm Aug 2, 2009 12:05pm
Sure, we cannot - sorry about that
Quoting albchr
Good trading to us bro.....

If I have to depend on luck, I'm DOOMED.....
Discomfort and profit often stand side by side
  • #154,071
  • Aug 2, 2009 12:06pm Aug 2, 2009 12:06pm
Quoting albchr
Good trading to us bro.....

If I have to depend on luck, I'm DOOMED.....
looks like every waiting for the market to open...gonna be interesting
  • #154,072
  • Aug 2, 2009 12:12pm Aug 2, 2009 12:12pm
Quoting nAVIN2007
looks like every waiting for the market to open...gonna be interesting
May seem strange after the month I had but I actually can't wait...lol

You gonna book some profits and protect the rest, take it all now or let it all run?
Ghost Rider - WWTBMD?
  • #154,073
  • Aug 2, 2009 12:25pm Aug 2, 2009 12:25pm
Quoting albchr
May seem strange after the month I had but I actually can't wait...lol

You gonna book some profits and protect the rest, take it all now or let it all run?
i dunno im starting to think this might sink..its at a round number and if it sinks it will move quick..i will have to monitior the opening..if it gap above the risistance and can give PA to say the are will hold..i will ride the mofo up!
  • #154,074
  • Aug 2, 2009 12:33pm Aug 2, 2009 12:33pm
Quoting nAVIN2007
i dunno im starting to think this might sink..its at a round number and if it sinks it will move quick..i will have to monitior the opening..if it gap above the risistance and can give PA to say the are will hold..i will ride the mofo up!
I also think it will drop some if no other reason than a bounce off that resistance. I was tempted to short it at the top but I don't like holding over a weekend if not already in very good profit.

I'm not predicting anything here but my "gut" tells me somethings up with this rise and I think we'll drop and remain range bound for at least this week.

This is just me but if I had your position, I'd take a little profit and cover the rest at BE at least. Then it's a free trade with profit booked so matter what it does, I couldn't loose.

What was the size of your order anyway?
Ghost Rider - WWTBMD?
  • #154,075
  • Aug 2, 2009 12:33pm Aug 2, 2009 12:33pm
Quoting nAVIN2007
i have been looking at chart for different currencies i see no obvious setup this cable monthly chart suggest we might have found adequate resistance...

i dont trust August...tony if your around buddy ..do u not think we found resistance here?

one of the chart 2nd is zoomed in

it looks pretty tough resistance to me but dollar strength looks a bit weak

If the Trend is your friend, then we are now at the TOP of the H4 Trend line. I went Short on Friday night at 1.6710. Will see how it goes.
Attached Image (click to enlarge)
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  • #154,076
  • Aug 2, 2009 12:45pm Aug 2, 2009 12:45pm
Less thinking, less worrying, less trying to predict the future, merely see what it's doing and go along with it.

And you lot think M1 takes over your life, not looked at a chart all weekend no need to

I trade I stop, I trade I stop depending on how I feel and how samey the market is being ( the more samey the better ), easy life!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,077
  • Aug 2, 2009 12:52pm Aug 2, 2009 12:52pm
Quoting albchr
I also think it will drop some if no other reason than a bounce off that resistance. I was tempted to short it at the top but I don't like holding over a weekend if not already in very good profit.

I'm not predicting anything here but my "gut" tells me somethings up with this rise and I think we'll drop and remain range bound for at least this week.

This is just me but if I had your position, I'd take a little profit and cover the rest at BE at least. Then it's a free trade with profit booked so matter what it does, I couldn't loose.

What...
0.01 i generally alway enter that small..i cant even cash some its to small..lol
USD/CAD looks like up to me..cable might go down from here..
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  • #154,078
  • Aug 2, 2009 1:00pm Aug 2, 2009 1:00pm
Quoting thirtypips
If the Trend is your friend, then we are now at the TOP of the H4 Trend line. I went Short on Friday night at 1.6710. Will see how it goes.
depends on the gaps if u ask me..
  • #154,079
  • Aug 2, 2009 1:11pm Aug 2, 2009 1:11pm
Quoting nAVIN2007
depends on the gaps if u ask me..

Another up day for me I think, lets see if my guessing game can score +50% long term LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,080
  • Aug 2, 2009 2:08pm Aug 2, 2009 2:08pm
Hi Nav ,theres nothing bearish about that monthly charts immediate candles ,as far as I can tell ,we are at res no doubt about it but my point of view is we will take it...lets face it it could not be taken Friday otherwise it would be too easy,everyone would be long.
Shorts need to be suckered its as simple as that.


Quoting nAVIN2007
i have been looking at chart for different currencies i see no obvious setup this cable monthly chart suggest we might have found adequate resistance...

i dont trust August...tony if your around buddy ..do u not think we found resistance here?

one of the chart 2nd is zoomed in

it looks pretty tough resistance to me but dollar strength looks a bit weak
On-site guru & also FF member's' psychiatrist, when not drinking tea
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