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Cable Update (GBPUSD)

  • #156,301
  • Aug 7, 2009 11:26am Aug 7, 2009 11:26am
Quoting malcolmb14
ok here we are 1.6655 , almost test of that break out level . Dollar index 79 almost , posted chart saying test 80 , so almost there.

Now just got to see if we get break of this level or if this is some form of mark down .

remember chart I posted yesterday saying symmetry ... 700 up 700 down . We just hit 500 down

daily still looks bearish .. maybe get one more day of 200 - 300 pips
Pardon me for being a novice: does this mean you are seeing more downside for gu?

what are your thoughts why gj moved up when gu down? or will gj fall the next few days

thanks for your thoughts.

F
  • #156,302
  • Aug 7, 2009 11:34am Aug 7, 2009 11:34am
Quoting francish
dear Malcolm, since u are here

quote from ur post

short 160.20 .. target ??? stop be +5 ... still bearish till 158,5 this added to short off 160.5 earlier

what are ur comments. y gj went bull
what is the outlook for gj

thanks

f

gj stopped dead at 159 overnight ... based thru there then took off today . I missed all of move as was sleeping and just to scared to get in on move off 162 this morning. With me they have achieved what they wanted ... to damn scared to make a trade now

It has had a very wide spread high volume up bar into that area of resistance. I have no clue what is going on with IT or the stock markets.

The up move in indexes is disconencted with the usd. GJ is acting to crazy with these very impulsive moves up and down . Max volatility is at tops and bottoms , and this 400 pip up and down we have seen this week sure indicates that a top may be forming.

GU has been much more predicatable

I would not be surprised to see a 100 pip sell of in GJ before end of day if equity market comes off .

I mean come on NFP -250 k ... Goldman sachs said it would be so last night ( had to dig deep for that news ) ... Goldman sachs liekly gave that figure to the feds to put out there. I know this is conspiracy theory , but who is playing who here ? and why is Goldman sachs at the centre of everything.
Blogging daily now at www.volume.zone
  • #156,303
  • Aug 7, 2009 11:38am Aug 7, 2009 11:38am
Quoting francish
Pardon me for being a novice: does this mean you are seeing more downside for gu?

what are your thoughts why gj moved up when gu down? or will gj fall the next few days

thanks for your thoughts.

F

1.6650 is resistance on the chart.

We have rapidly moved down to this level the last 2 days and are currently getting a nice little bounce off it.

The daily chart may get another down day Monday , 1.6600 or maybe even round number 1.6500 test , but in this crazy market anything can happen.

right now it is take one day at a time. The market is very volatile.
Blogging daily now at www.volume.zone
  • #156,304
  • Aug 7, 2009 11:43am Aug 7, 2009 11:43am
[quote=malcolmb14;2939566]gj stopped dead at 159 overnight ... based thru there then took off today . I missed all of move as was sleeping and just to scared to get in on move off 162 this morning. With me they have achieved what they wanted ... to damn scared to make a trade now


thanks Malcolm, yeah, I noted that u were absent during the turbulence. hahaha. the earlier question of who here has been trading for how long - had been answered. my simple question - how many hours of sleep did u put in every nite having to watch the pre- and intra-london sessions.

do take care of your health.


i got to go. it is 1245 am here in malaysia. c u all next week. i know i have been lurking but yes learn quite a fair bit today and make a few 30 pips, after not trading for two weeks because of $$ losses. hope to be able to contribute in due time.

cheers.

F
  • #156,305
  • Aug 7, 2009 11:44am Aug 7, 2009 11:44am
Quoting malcolmb14
gj stopped dead at 159 overnight ... based thru there then took off today . I missed all of move as was sleeping and just to scared to get in on move off 162 this morning. With me they have achieved what they wanted ... to damn scared to make a trade now

It has had a very wide spread high volume up bar into that area of resistance. I have no clue what is going on with IT or the stock markets.

The up move in indexes is disconencted with the usd. GJ is acting to crazy with these very impulsive moves up and down . Max volatility is at tops and...
Today's treasuries data is too damn strong for this dragon to come down
I hope with weak gold may cause it to retrace a bit.
  • #156,306
  • Aug 7, 2009 11:44am Aug 7, 2009 11:44am
TP 1, 2 and 3 collected this week Chart here:http://www.forexfactory.com/showpost...stcount=154828



However, dragon and U/J are being stubborn little gits and refusing to drop with my sell orders. Expecting sell off towards end NY
  • #156,307
  • Aug 7, 2009 11:59am Aug 7, 2009 11:59am
[quote=francish;2939589]
Quoting malcolmb14
gj stopped dead at 159 overnight ... based thru there then took off today . I missed all of move as was sleeping and just to scared to get in on move off 162 this morning. With me they have achieved what they wanted ... to damn scared to make a trade now


thanks Malcolm, yeah, I noted that u were absent during the turbulence. hahaha. the earlier question of who here has been trading for how long - had been answered. my simple question - how many hours of sleep did u put in every nite having to watch the pre- and intra-london...
i try to trade 5am to 8am pst .... used to be good .. now just seems to be whipsaw. I do try and get 7 hours to 8 hours a night . I am a day trader so all I am looking for is 30 pips a day. Which sounds easy , but in this crazy market is not
Blogging daily now at www.volume.zone
  • #156,308
  • Aug 7, 2009 11:59am Aug 7, 2009 11:59am
Hi to all,

Very interesting comments from all, it is very educative and everybody has fun in trading with others in Live.

I sent posts, but seen under moderating, i couldn't particpate.

Thanks to all, for a new style of trading (serious strategies and analysis with fun and relax).

Wish to all active members good trades and nice week-end.
If you resist at heart attack, you will be rich from trading.
  • #156,309
  • Aug 7, 2009 12:02pm Aug 7, 2009 12:02pm
[quote=malcolmb14;2939635

i try to trade 5am to 8am pst .... used to be good .. now just seems to be whipsaw. I do try and get 7 hours to 8 hours a night . I am a day trader so all I am looking for is 30 pips a day. Which sounds easy , but in this crazy market is not[/quote]

Means, if you have 30 pips at the beginning, you stop trading? I think better gain is always welcome.
If you resist at heart attack, you will be rich from trading.
  • #156,310
  • Aug 7, 2009 12:27pm Aug 7, 2009 12:27pm
[quote=malcolmb14;2939635]
Quoting francish

i try to trade 5am to 8am pst .... used to be good .. now just seems to be whipsaw. I do try and get 7 hours to 8 hours a night . I am a day trader so all I am looking for is 30 pips a day. Which sounds easy , but in this crazy market is not

Malc, do you think the stock market price action will go back in tandem with the cable, as today they went in opposite directions?
  • #156,311
  • Aug 7, 2009 12:28pm Aug 7, 2009 12:28pm
[quote=malcolmb14;2939635]
Quoting francish

i try to trade 5am to 8am pst .... used to be good .. now just seems to be whipsaw. I do try and get 7 hours to 8 hours a night . I am a day trader so all I am looking for is 30 pips a day. Which sounds easy , but in this crazy market is not
Stick with it

Every big moves produces a cluster of people bragging about all the cigars and beers and hookers they are going to enjoy over the weekend...

They will be the biggest losers next week but 50% of them are fantasists who claim to win every week

Realists make some and lose some and keep going until they are able to make gentle profits with not too much risk
  • #156,312
  • Aug 7, 2009 12:35pm Aug 7, 2009 12:35pm
[quote=allserene;2939694]
Quoting malcolmb14

Stick with it

Every big moves produces a cluster of people bragging about all the cigars and beers and hookers they are going to enjoy over the weekend...

They will be the biggest losers next week but 50% of them are fantasists who claim to win every week

Realists make some and lose some and keep going until they are able to make gentle profits with not too much risk
I took a hit this week just like i did last year...market has a habit at this time to set the change for the rest of the year..back to sinking the ship..only right now nothing is confirmed..
  • #156,313
  • Aug 7, 2009 12:43pm Aug 7, 2009 12:43pm
[quote=alex1976;2939689]
Quoting malcolmb14


Malc, do you think the stock market price action will go back in tandem with the cable, as today they went in opposite directions?
no idea ..... at all ... lol... this market has gone insane .. almost same as DJ was at 14400
Blogging daily now at www.volume.zone
  • #156,314
  • Aug 7, 2009 12:44pm Aug 7, 2009 12:44pm
[quote=nAVIN2007;2939699]
Quoting allserene

I took a hit this week just like i did last year...market has a habit at this time to set the change for the rest of the year..back to sinking the ship..only right now nothing is confirmed..
You are not alone NAV

I lost a bit after making consistently small profits for weeks with very few losses

When the market goes epileptic, it's largely a matter of luck no matter what they say

We shall return but it's just a matter of judging as to when what's going on, is what suits your style

This crazy stuff doesnt suit mine obviously

Tighter s/l's and no overnight (even tiny), and no position at all (even tiny) through the news is my main take away from this week

Even tiny positions can be magnified with all this paranoid stuff going on

I made huge money this year (enough to buy a nice house) by moving funds to and from the USA/UK - and it was an accident. Pure accident and good luck. So luck comes into it too, no matter what they say
  • #156,315
  • Aug 7, 2009 1:10pm Aug 7, 2009 1:10pm
[quote=nAVIN2007;2939699]
Quoting allserene

I took a hit this week just like i did last year...market has a habit at this time to set the change for the rest of the year..back to sinking the ship..only right now nothing is confirmed..

Nav, is your bias now short for cable?
  • #156,316
  • Aug 7, 2009 1:11pm Aug 7, 2009 1:11pm
[quote=allserene;2939710]
Quoting nAVIN2007

You are not alone NAV

I lost a bit after making consistently small profits for weeks with very few losses

When the market goes epileptic, it's largely a matter of luck no matter what they say

We shall return but it's just a matter of judging as to when what's going on, is what suits your style

This crazy stuff doesnt suit mine obviously

Tighter s/l's and no overnight (even tiny), and no position at all (even tiny) through the news is my main take away from this week

Even tiny positions can be magnified with...
absolutely people say luck doesnt exist but u need luck to be successfull..u have to feel blessed...its great u had good fortune..we all need these touches in life, long may it continue al
  • #156,317
  • Aug 7, 2009 1:13pm Aug 7, 2009 1:13pm
[quote=alex1976;2939751]
Quoting nAVIN2007


Nav, is your bias now short for cable?
hey alex you quoted me but inserted Nav's words

luckily he didnt say anything naughty !

alan
  • #156,318
  • Aug 7, 2009 1:14pm Aug 7, 2009 1:14pm
[quote=alex1976;2939751]
Quoting nAVIN2007


Nav, is your bias now short for cable?

i dunno what to think..i have just placed the thing to breakeven..not sure id have allowed myself to lose this amount of profit..im hoping it just a retrace???

but in august retrace thinking isnt a smart move

i really expected 1.67 to hold..
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  • #156,319
  • Aug 7, 2009 1:41pm Aug 7, 2009 1:41pm
[quote=allserene;2939756]
Quoting alex1976

hey alex you quoted me but inserted Nav's words

luckily he didnt say anything naughty !

alan

Sorry bout that, allserene.
  • #156,320
  • Aug 7, 2009 2:13pm Aug 7, 2009 2:13pm
[quote=nAVIN2007;2939757]
Quoting alex1976


i dunno what to think..i have just placed the thing to breakeven..not sure id have allowed myself to lose this amount of profit..im hoping it just a retrace???

but in august retrace thinking isnt a smart move

i really expected 1.67 to hold..

I expected 1.68 to hold yesterday, which is against my system, don't expect anything the market can and will move any way it likes.

I also assumed yesterday was a down blip in a up trend and expected today to be up, doh!!!

What's the direction ??? thats the only question to ask, and currently it's DOWN!!

End of story!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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