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Cable Update (GBPUSD)

  • #156,381
  • Aug 9, 2009 9:47am Aug 9, 2009 9:47am
Quoting malcolmb14
weekly candle , doji HIGHEST VOLUME IN 4 YEARS ON WEEKLY. Think pros are buying here.

do you walk into a car dealership and offer$10,000 above asking for your new car or try to get it at discount. Pros are not buying trust me.

I base my short on weekly candle

talking of cars

http://www.marketwatch.com/story/aut...cue-2009-08-09

when you see news headline like this you know we are doomed. How can getting debt on debt be good for recovery ?

the mentality of today is I want I get .....
Blogging daily now at www.volume.zone
  • #156,382
  • Edited 10:26am Aug 9, 2009 9:48am | Edited 10:26am
Quoting Nene
Major Trend is Up!

Adding on to my longs. This is going to be a nice trade when it turns back up. Next potential scale in at 1.6600 and should get another arrow at that point if it hasn't taken any profit points.

Ne
When do we get the SALES PITCH?


Quoting Nene
The Magenta line on the chart is the 89 SMA and it gets a lot of respect.

Fact: Moving averages are lagging.

Look at your 89SMA in these charts below and see if it gets "a lot of respect" as you put it.

Fact: PRICE ACTION is the KEY.

PS That Bull Flag tantrum you had this week? Well you were bloody wrong, AGAIN.

"CLICK"
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gj 09-07-22.gif Size: 14 KB
  • #156,383
  • Aug 9, 2009 9:51am Aug 9, 2009 9:51am
Quote
Originally Posted by AmeriTrini
have you heard of corrections??


Quoting malcolmb14
have you heard of patterns repeating themselves buddy ? and do you know candle charting ?

before you go mouthing off to others study your charts ....otherwise you will look like a fool

Hi Malcolmb, still on form I see.
  • #156,384
  • Aug 9, 2009 9:54am Aug 9, 2009 9:54am
Quoting ams
You might not see pound going back to 13xxx - 14xxx ....
I think you are in for a surprise.
  • #156,385
  • Aug 9, 2009 10:02am Aug 9, 2009 10:02am
three scenarios for this week

I favour down to 1.6000 , bounce to 1.6750 (to trap all those bull buying off support 1.6600)then tank to 1.6200 or lower

Attached Image (click to enlarge)
Click to Enlarge Name: chart198.png Size: 217 KB
Blogging daily now at www.volume.zone
  • #156,386
  • Aug 9, 2009 10:04am Aug 9, 2009 10:04am
Quoting direct-trade
[/i]




Hi Malcolmb, still on form I see.
yup ..lol....

That fellow was doing some hating on Alex .. no charts to say why he thought 1.7500 or was it 3.0000 ? lol
Blogging daily now at www.volume.zone
  • #156,387
  • Aug 9, 2009 10:36am Aug 9, 2009 10:36am
Quoting malcolmb14
yup ..lol....

That fellow was doing some hating on Alex .. no charts to say why he thought 1.7500 or was it 3.0000 ? lol

Fair 'nuf.

Looking forward to Open....Wonder if Asia will smash around a little.

We know the BOJ threatened to jump in when U/J was approaching 91 area, worked a treat...but they won't like this much of a rise.
  • #156,388
  • Aug 9, 2009 10:38am Aug 9, 2009 10:38am
Quoting neno
i want to know your expectation on monday long or short

Already Short from mid 169 area, I wouldnt jump in if thinking short just yet mate until 4hr close below 16650. Just my opinion.
  • #156,389
  • Aug 9, 2009 10:39am Aug 9, 2009 10:39am
Sorry Dude,

Dead right on that Flag. Produced 130 pips which is dam good for the 1 Hr. You need to take a better look. Here, wanna see it again. Even did a classic test after breaking. Get some glasses!

Ne

Quoting direct-trade
When do we get the SALES PITCH?





Fact: Moving averages are lagging.

Look at your 89SMA in these charts below and see if it gets "a lot of respect" as you put it.

Fact: PRICE ACTION is the KEY.

PS That Bull Flag tantrum you had this week? Well you were bloody wrong, AGAIN.

"CLICK"
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 42 KB
  • #156,390
  • Aug 9, 2009 10:45am Aug 9, 2009 10:45am
I see a break and a test, Pal on both shots you are showing me. Do you even know what you are looking at. Time will tell. You go ahead and lean on your counters and you will see what I mean.

Ne

Quoting direct-trade
When do we get the SALES PITCH?





Fact: Moving averages are lagging.

Look at your 89SMA in these charts below and see if it gets "a lot of respect" as you put it.

Fact: PRICE ACTION is the KEY.

PS That Bull Flag tantrum you had this week? Well you were bloody wrong, AGAIN.

"CLICK"
  • #156,391
  • Aug 9, 2009 10:47am Aug 9, 2009 10:47am
correct on both but whats so funny?

Quoting malcolmb14
yup ..lol....

That fellow was doing some hating on Alex .. no charts to say why he thought 1.7500 or was it 3.0000 ? lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #156,392
  • Aug 9, 2009 10:51am Aug 9, 2009 10:51am
Well there is a shooting star but be aware it is a single candle pattern which requires confirmation before hanging out the flags,remember the one a few weeks ago.

Quoting direct-trade
...........I can see has played out as planned again.

I am wondering why there are still longs out there? I was laughed at by a few who were screaming "LONGGGG!!!!" this week when I was going Short...mind you they also laughed when I was Long from 164 area... Proves a point...just trade your charts and what YOU see.

I still see downside momentum from here.

Have a great week bros.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #156,393
  • Aug 9, 2009 10:52am Aug 9, 2009 10:52am
Nothing on this side. Someone is just trying to downplay me. I can,t believe the dude doesnt see a flag, break and test in the chart I just posted. I find it harder to deal with some of this. You know me, Bones, and you know I have been here a lot longer then some of these guys, would I intentionally steer someone wrong.

Jim
  • #156,394
  • Aug 9, 2009 10:58am Aug 9, 2009 10:58am
We will see which way she is going on Wedsnday. That will be the tell tale for Cable. Anything now is just guessing. Price action is on track to go lower, I admit that. But the trend is up and this pair can turn the corner at anytime.

And, anyone who has been in this business for some time should also know that NFP is just a bump in the road. Most professional traders draw their trendlines straight thru it.

Ne
  • #156,395
  • Aug 9, 2009 10:58am Aug 9, 2009 10:58am
Drama
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #156,396
  • Aug 9, 2009 11:00am Aug 9, 2009 11:00am
Hey Bones, are yu talking about that formation on the 4 Hr last candle?

Jim

Quoting Bones
Well there is a shooting star but be aware it is a single candle pattern which requires confirmation before hanging out the flags,remember the one a few weeks ago.
  • #156,397
  • Aug 9, 2009 11:04am Aug 9, 2009 11:04am
Not sure if you guys noticed this...

http://www.forexfactory.com/t/155459...ml#post2939742
  • #156,398
  • Aug 9, 2009 11:04am Aug 9, 2009 11:04am
Yes I do Nene ,I know I have taken a lot from your posts in the past..
that are with me today
gotta go catch ya later

Quoting Nene
Nothing on this side. Someone is just trying to downplay me. I can,t believe the dude doesnt see a flag, break and test in the chart I just posted. I find it harder to deal with some of this. You know me, Bones, and you know I have been here a lot longer then some of these guys, would I intentionally steer someone wrong.

Jim
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #156,399
  • Aug 9, 2009 11:05am Aug 9, 2009 11:05am
that worked...
Attached Image
  • #156,400
  • Aug 9, 2009 11:29am Aug 9, 2009 11:29am
Got some news coming out that could change the whole picture. Even though there was a sharp reversal on surprise Bank of England announcements, the FOMC later this week could confirm this and send us lower or could reverse this whole scenario. Like I said, Wednsday will make a difference.

Ne
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