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Cable Update (GBPUSD)

  • #155,021
  • Aug 4, 2009 3:23pm Aug 4, 2009 3:23pm
Quoting allserene
Rick Santelli reckons the U.S. dollar is stuffed and he is pretty good

Technically this is a 'stuffed doll' indicator and the best I have used

The current cable chart is a 'Hillary's hips' formation - just refuses to go down - and waiting to break out to the upside

The first move will be the false one

Then reversal towards Thursday evening pre announcement
something going on

usd telling their embassies to get rid of usd cash and go to local currencies by September. .. this on main stream news ... I say trap.

doallr index shows there may be some buying ...

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Blogging daily now at www.volume.zone
  • #155,022
  • Aug 4, 2009 3:25pm Aug 4, 2009 3:25pm
Its either a buy above 7000, or a sell below 6887.

Its that simple.
  • #155,023
  • Aug 4, 2009 3:43pm Aug 4, 2009 3:43pm
Quoting alex1976
Its either a buy above 7000, or a sell below 6887.

Its that simple.
or sell 6950 , buy 6910 ...seems that range all day
Blogging daily now at www.volume.zone
  • #155,024
  • Aug 4, 2009 3:43pm Aug 4, 2009 3:43pm
Quoting Turveyd
Cool, I'll start looking for a nice Mountain bike to import to save alot of money compared to UK, when we get to 1.9+ area
I will pop it on the plane next time I am over to Otley for a Timothy Taylor's championship ales and Morrison's cheshire cheese. I will tell HMRC it's a present for my granny's boyfriend for passing his exams in an afghan training camp. The beer here in the Wild West desert is like condensed mustang snot that has been reconstituted in washing up water..

I wish I was better at charts but every time I see it trotting along in more or less a straight line for ages (during an uptrend), I reckon it very often breaks to the upside after a feint to the downside

Not often you get these fencing terms on here. The feint is your friend. But feints are not for the faint hearted
  • #155,025
  • Aug 4, 2009 3:44pm Aug 4, 2009 3:44pm
Quoting malcolmb14
something going on

usd telling their embassies to get rid of usd cash and go to local currencies by September. .. this on main stream news ... I say trap.

doallr index shows there may be some buying ...
Agreed. First, if it's on the main stream, it's likely manufactured BS like everything else that is. Second, I just watched a piece on Glenn Beck talking about the same thing. Just like we've heard bit's and pieces for months now about China & Russia making noise for a new world currency. Yet when asked, they deny making such claims. Obama saying no way, then way, then no way again...LOL

PA-LEEZZZZZ
Ghost Rider - WWTBMD?
  • #155,026
  • Aug 4, 2009 3:45pm Aug 4, 2009 3:45pm
Quoting malcolmb14
or sell 6950 , buy 6910 ...seems that range all day
Worked for me.....
Ghost Rider - WWTBMD?
  • #155,027
  • Aug 4, 2009 3:47pm Aug 4, 2009 3:47pm
Quoting allserene
I will pop it on the plane next time I am over to Otley for a Timothy Taylor's championship ales and Morrison's cheshire cheese. I will tell HMRC it's a present for my granny's boyfriend for passing his exams in an afghan training camp. The beer here in the Wild West desert is like condensed mustang snot that has been reconstituted in washing up water..

I wish I was better at charts but every time I see it trotting along in more or less a straight line for ages (during an uptrend), I reckon it very often breaks to the upside after a feint...

When I've made some money, consider that a done deal mate, thanks

Yeah it's a pull back to gain momentum in a uptrend thus far.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #155,028
  • Aug 4, 2009 3:47pm Aug 4, 2009 3:47pm
Quoting albchr
LOL you keep saying 4H as if that's what I trade from. I traded the 1 hour mostly and the 30M occasionally. Used daily and 4H for finding strong S/R & current trend is all.
Listening to you guys talk-I must be all screwed up. I've been trading from hourly with a 15 pip stop! lol

I do that by getting entries on the 5m. Don't need to but it helps me keep my sl smaller. Besides I can tell really quick if it is going bad.

Good job on your daily total. It's always good to pick up a few extra-in case.
  • #155,029
  • Aug 4, 2009 3:54pm Aug 4, 2009 3:54pm
Seems like consolidation after up thrust 7 is nice round number but has it been tested enough yet??I suspect price will reach through it at the very least.
Price has changed its mood from consolidation to trend.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,030
  • Aug 4, 2009 3:56pm Aug 4, 2009 3:56pm
Hey Guys.....

Wish me luck

Just entered Long @ 1.69330 with SL @ 1.69121 .......

No take profit ........

I'm going to bed now and will see how this trade go.......



Bye bye & good night
  • #155,031
  • Aug 4, 2009 4:02pm Aug 4, 2009 4:02pm
here is my levels

http://forexforums.dailyfx.com/attac...yst-forex2.jpg

------------

support resistance

.
  • #155,032
  • Aug 4, 2009 4:03pm Aug 4, 2009 4:03pm
Quoting Bones
Seems like consolidation after up thrust 7 is nice round number but has it been tested enough yet??I suspect price will reach through it at the very least.
Price has changed its mood from consolidation to trend.
Yo Bones - you are burning the midnight oil there

must be some exciting action in the offing !

Friday will be a hoot in stocks and forex
  • #155,033
  • Aug 4, 2009 4:06pm Aug 4, 2009 4:06pm
i honestly do not see the markets running on fresh air or these traps or conspiracies that have been called for weeks.If it drops like a stone from here is it a trap or the market doing its thing?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,034
  • Aug 4, 2009 4:08pm Aug 4, 2009 4:08pm
Hey Al I'm actually on Holiday in Spain right now just catching up ,thats all,lol

Quoting allserene
Yo Bones - you are burning the midnight oil there

must be some exciting action in the offing !

Friday will be a hoot in stocks and forex
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,035
  • Aug 4, 2009 4:10pm Aug 4, 2009 4:10pm
My weekly target is higher.But maybe before Friday
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #155,036
  • Aug 4, 2009 4:13pm Aug 4, 2009 4:13pm
Quoting direct-trade

Everyone going long now?? Enjoy the ride....

Still Short and contrarian until the market shows otherwise.
hehehehehe he cant stop my smile
  • #155,037
  • Aug 4, 2009 4:19pm Aug 4, 2009 4:19pm
Quoting pakitrader
hehehehehe he cant stop my smile
Please don't tempt fate, it makes me nervous. :S

(Long at 69254, stop at b/e, t/p: well we'll wait and see (ie still working on it but watching at the moment))
  • #155,038
  • Aug 4, 2009 4:19pm Aug 4, 2009 4:19pm
Quoting Bones
i honestly do not see the markets running on fresh air or these traps or conspiracies that have been called for weeks.If it drops like a stone from here is it a trap or the market doing its thing?
I dont go for conspiracy theories - even George Soreass couldnt move cable now - it's just the market pushing it's latest theory which will change every week or so

I see it simpler - if the crisis has gone and its safe to go back in the water, then surely we just go back to square one - cable at 2.00

That doesn't even allow for the US govt now only having tax receipts equalling half their spending levels

In what way has the UK gone worse than the US in the last 18 months I ask myself - if they have dived the same, then it should be 2.000 and only the 'safe currency' thing has held the dollar up - now thats going away and the emperor is all fur coat and no knickers
  • #155,039
  • Aug 4, 2009 4:21pm Aug 4, 2009 4:21pm
closed short.

Staying out ATM. This is not a place to short IMFHO.
Its all in the mind.
  • #155,040
  • Aug 4, 2009 4:36pm Aug 4, 2009 4:36pm
CONTRARIAN, huh?

every 3 in 4 retail trader is short at the moment. If you absolutely have to trade then put in a buy order at 70 with a tight stop.


Quoting pakitrader
hehehehehe he cant stop my smile
Its all in the mind.
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