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Cable Update (GBPUSD)

  • #163,481
  • Sep 4, 2009 5:22am Sep 4, 2009 5:22am
Quoting gammase1
Sorry Azim. I'm not spending much time at the screen prior to NFP.

Personally, I think most of the recent rise in gold is purely for technical reasons, with the charts looking extremely bullish, shouting to buy on any dips, which is drawing more speculative longs to this stupid piece of yellow metal (that you can't eat and won't keep you warm), thereby increasing demand in the virtuous cycle we are now witnessing. Perhaps there is also an element of CB purchasing the metal in order to diversify their reserves, I honestly don't know.

From...
hey paul I was just kidding
Thanks for taking your time to reply bro, I'm gonna need a few minutes to digest that. (I'm still fundamentally stupid )
Thank You
  • #163,482
  • Sep 4, 2009 5:24am Sep 4, 2009 5:24am
Gbp/Jpy and Gbp/Usd will go down and Usd/Cad up, i'm holding this 3 opened trades.
"Hate the sin, love the sinner." - Gandhi
  • #163,483
  • Sep 4, 2009 5:25am Sep 4, 2009 5:25am
Quoting urutu
thanks wormboy,
just one more thing. from where all this what coming when came from? my metatrader ain't showing anything.
mate you lost me there
Thank You
  • #163,484
  • Sep 4, 2009 5:25am Sep 4, 2009 5:25am
Quoting ams
Sorry folks, not a shampoo advert......

I am sure someone has noticed and might have been discussed, we are forming head & shoulders pattern on daily?
Seems 167 is on the cards at least, we also have BOE IR news on the 10th Sep, and we might see same situation we have seen before when it reached 170...just a thought.
Could be either ATM, could be shampoo, or could be this:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 03-09-03.gif Size: 23 KB
  • #163,485
  • Sep 4, 2009 5:27am Sep 4, 2009 5:27am
Quoting GlobalMacro
yup...I guess we are "time-framely wise!!!",,,,,, too immature to be admitted to that exclusive club........we simply need to grow up.....errrr ....sorry.....grow down for that...

And the anti M1 brigade hasn't worked out, if the market moves 30pips on m15 it moves 30pips on m1 to.

The main difference is, m1 lets you see the detail and the trend change quicker so I get in towards the beginning where as M15 gets you in towards the end and therefore has higher risks and requires larger SL's.

Frankly the lack of respect for traders just because we use M1 is really very childish and stupid so grow up!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #163,486
  • Sep 4, 2009 5:27am Sep 4, 2009 5:27am
Quoting albchr
Well, keep the faith brother. I have high hopes we'll muddle though it somehow...
hope we can learn some useful stuff.....M1-ly wise...that is...to make it on time for NFP though...
Hear the music before the song is over ...
  • #163,487
  • Sep 4, 2009 5:31am Sep 4, 2009 5:31am
Quoting direct-trade
Could be either ATM, could be shampoo, or could be this:
Chart shows closer view of "Handle". NFP will lead the way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd handle.gif Size: 19 KB
  • #163,488
  • Sep 4, 2009 5:32am Sep 4, 2009 5:32am
Quoting Turveyd
And the anti M1 brigade hasn't worked out, if the market moves 30pips on m15 it moves 30pips on m1 to.

The main difference is, m1 lets you see the detail and the trend change quicker so I get in towards the beginning where as M15 gets you in towards the end and therefore has higher risks and requires larger SL's.

Ah...Good Morning Sir...Nice of you to show up...

yes...what do you think about this M1 Chart with a SMA1440 on it...help us to make sense of it thanks...
Attached Image
Hear the music before the song is over ...
  • #163,489
  • Sep 4, 2009 5:33am Sep 4, 2009 5:33am
1028 GMT [Dow Jones] GBP/USD's recent close below 1.6424 has produced a bearish trend reversal that highlights support at the June low of 1.5986 says RBC Capital Markets. Now trades at 1.6350. The bank says any retracements toward resistance at 1.6577 and 1.6664 should attract selling interest with the aim of targeting the recent 1.6115 low. A break here opens risk toward 1.5986 ahead of 1.5803. (GST)

Contact us in London. +44-20-7842-9464
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ex member
  • #163,490
  • Sep 4, 2009 5:33am Sep 4, 2009 5:33am
Quoting direct-trade
Could be either ATM, could be shampoo, or could be this:
Wheres the Tea Pot DT? lol
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,491
  • Sep 4, 2009 5:34am Sep 4, 2009 5:34am
Quoting TheGabriel
Gbp/Jpy and Gbp/Usd will go down and Usd/Cad up, i'm holding this 3 opened trades.
I'm gonna be reeeeally subtle here.
If you've any real experience trading live for a good amount of time, you would exclude the word "WILL" around NFP. And I mean that in a respectful way.
NFP is like the grandaddy of those data. All bets are off going into nfp, I do mean that. NOONE can call it before nfp. Welp, not the ones who hangs out on public forums at least.
I am bearish on cable & dragon. But that can quickly change when nfp is done.
Like you, I am also holding positions on dragon & in a good amount of profit, but I will look to tighten my stops & lock profit. IF price goes my way, I'll consider myself lucky. There is absolutely no skills involved holding into nfp, and if I wasn't in a good position holding, I don't think a new position before nfp is such a good idea. Trade wisely
Thank You
  • #163,492
  • Sep 4, 2009 5:35am Sep 4, 2009 5:35am
Quoting Turveyd
And the anti M1 brigade hasn't worked out, if the market moves 30pips on m15 it moves 30pips on m1 to.

The main difference is, m1 lets you see the detail and the trend change quicker so I get in towards the beginning where as M15 gets you in towards the end and therefore has higher risks and requires larger SL's.

Frankly the lack of respect for traders just because we use M1 is really very childish and stupid so grow up!!!
I agree, each to their own and all that.

So let's also stop the lack of respect for traders using higher t/f, particularly the unhealthy obsession against H4. We shouldn't make unsubstantiated criticisms against systems or trading methods we do not fully understand.

Done. So now let's move on...
  • #163,493
  • Sep 4, 2009 5:36am Sep 4, 2009 5:36am
Quoting Bull_Bear
Wheres the Tea Pot DT? lol
Always good to see a cup of tea in the charts...or coffee if on the other side of the pond lol. Speaking of which, this is a good time for me to grab a cuppa before the market goes crazy today...
  • #163,494
  • Sep 4, 2009 5:37am Sep 4, 2009 5:37am
Quoting GlobalMacro
Ah...Good Morning Sir...Nice of you to show up...

yes...what do you think about this M1 Chart with a SMA1440 on it...help us to make sense of it thanks...

Real mature!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #163,495
  • Sep 4, 2009 5:38am Sep 4, 2009 5:38am
Quoting GlobalMacro
Ah...Good Morning Sir...Nice of you to show up...

yes...what do you think about this M1 Chart with a SMA1440 on it...help us to make sense of it thanks...
lol ironic the H4 basher calling us childish. Pot, kettle, black. Nuff said.
Thank You
  • #163,496
  • Sep 4, 2009 5:38am Sep 4, 2009 5:38am
Quoting direct-trade
Ok, before NFP here is what I see on GBP/USD, GBP/JPY and USD/JPY.......
Truly excellent DT....

I guess the feed one looks at has a lot to do with things. Mine (IBFX) shows a different picture on almost all those charts. Also, I'm really just a beginner at TL's so maybe I have this wrong but just as one example, the GJ daily here. Still bullish IMHO but certainly different.
Attached Image (click to enlarge)
Click to Enlarge Name: gj_d.gif Size: 21 KB
Ghost Rider - WWTBMD?
  • #163,497
  • Sep 4, 2009 5:39am Sep 4, 2009 5:39am
Quoting gammase1
I agree, each to their own and all that.

So let's also stop the lack of respect for traders using higher t/f, particularly the unhealthy obsession against H4. We shouldn't make unsubstantiated criticisms against systems or trading methods we do not fully understand.

Done. So now let's move on...
Da ja vu.... oh no
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,498
  • Sep 4, 2009 5:40am Sep 4, 2009 5:40am
Quoting Turveyd
Real mature!!
I'm asking you a serious question here...what do you think about this chart...?...
Attached Image
Hear the music before the song is over ...
  • #163,499
  • Sep 4, 2009 5:40am Sep 4, 2009 5:40am
Quoting Bull_Bear
Da ja vu.... oh no


No, it's a fruitless debate, arguing over individual trading styles.
  • #163,500
  • Sep 4, 2009 5:42am Sep 4, 2009 5:42am
Quoting direct-trade
Ok, before NFP here is what I see on GBP/USD, GBP/JPY and USD/JPY.

Cable has broken it's upper trendline and retested. I expect large move North during/after NFP.

GBP/JPY AKA "The Beast" has also broken it's upper trendline, and has upside potential.

USD/JPY looks like Bank of Japan intervention at 92 area again. Remember when I mentioned this at 92 area before? Price went to 97/98. Could it happen again? Possibly, possibly not.

Couple of the charts were posted last night, so excuse the price shown.

I am holding long Cable 16162, long...
Hi DT What you think about EURO/JPY ?
The finest tool in the world still needs a MAN who KNOWS how to use it.
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