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Cable Update (GBPUSD)

  • #172,721
  • Oct 2, 2009 4:46pm Oct 2, 2009 4:46pm
Quoting albchr
No you don't get it. My stop is meaningless. It's at 6030. If the market opens at 6200, THAT'S the price they take me out at.
in the event of that happening dont see it above 40-50 pips i have compared the opening prices since i get sunday night 1 hour prior open and so far the biggest i had on my broker was about 50 pips and it then immediately retraces
i have kept count actually for over 1 year and have some very rough stats over 6 pairs and big up/down openings almost ALWAYS retrace afrer steering a couple pips in opposite direction...so relax

and switch to fxpro gu is 0.8 spread during london/ny and their overlap thei also honor your stops
had that happening three times gap was about 20-25 pips after my sl and they still closed me @ SL price
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #172,722
  • Oct 2, 2009 4:48pm Oct 2, 2009 4:48pm
Quoting nAVIN2007
i hear you the point that im trying to make is f**king non farm has caused reversal signal short term...gbp is now got bullish signal and dollar short term (very short maybe even a day) will lose strength, u might wanna review yur stops bro..

this mofo look like at least 1.6
okay.
well I can live with short term, but I was responding to jim's long term outlook of cable blowing the lid off 61xx & go higher. Sure would help if he'd put up a chart or a link to the big boys whatever he was talking about anyway.
Thank You
  • #172,723
  • Oct 2, 2009 4:59pm Oct 2, 2009 4:59pm
Quoting mima
Although USDX was going up (H1)EUR and GBP also were going up ...meaning they did not respond to USDX...all analyst saying they will continue to go up...so how and when they will respond to USDX?
What are you talking about? USDX up EUROX up simultaneously??
Below is the H1 for both. I have no idea what you are talking about.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdx.JPG Size: 62 KB
Click to Enlarge Name: eurox.JPG Size: 61 KB
Thank You
  • #172,724
  • Edited 5:27pm Oct 2, 2009 5:17pm | Edited 5:27pm
Quoting wormboy
What are you talking about? USDX up EUROX up simultaneously??
Below is the H1 for both. I have no idea what you are talking about.
Sorry about EUR, Gbp is up...and wish USD is strong enough to put Gbp down...
The Market pays you to be disciplined
  • #172,725
  • Oct 2, 2009 5:28pm Oct 2, 2009 5:28pm
Quoting mima
Sorry about EUR, Gbp is up...and wish USDX is strong enough to put Gbp down...
I don't understand P&F charts but this is from a well known site/person.
None the wiser!
  • #172,726
  • Oct 2, 2009 5:30pm Oct 2, 2009 5:30pm
See chart
Attached Image (click to enlarge)
Click to Enlarge Name: USDX_02Oct2009.png Size: 33 KB
None the wiser!
  • #172,727
  • Oct 2, 2009 5:34pm Oct 2, 2009 5:34pm
Hope they are of help.
Attached Image
None the wiser!
  • #172,728
  • Oct 2, 2009 5:36pm Oct 2, 2009 5:36pm
Quoting wormboy
You might want to look at the usdx again properly.
Dollar is powering up.
Good luck with your longs tho, I'm done buying for the week. As of now I'm selling all the way into next week.
Chart below explains what I mean by dollar powering up. Tweezer bottoms at support level & the tri star formation indicates a trend reversal.
I hope jim can show what he meant by dollar weakness because I don't see it.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdxw.JPG Size: 69 KB
Thank You
  • #172,729
  • Oct 2, 2009 5:45pm Oct 2, 2009 5:45pm
This is what I mean saying that GBP doesnt respond to USDX...at least not as I would like
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.gif Size: 27 KB
The Market pays you to be disciplined
  • #172,730
  • Oct 2, 2009 6:11pm Oct 2, 2009 6:11pm
Quoting wormboy
Chart below explains what I mean by dollar powering up. Tweezer bottoms at support level & the tri star formation indicates a trend reversal.
I hope jim can show what he meant by dollar weakness because I don't see it.

Cheers.
WB, I like this setup, $ bullish and pound bearish --------->

Happy weekend to you all!

Jhon
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #172,731
  • Oct 2, 2009 6:23pm Oct 2, 2009 6:23pm
Quoting JhonMonsalve
WB, I like this setup, $ bullish and pound bearish --------->

Happy weekend to you all!

Jhon
Btw, What do you think about this weekly candle on GBPLFX? :-?

Attached Image (click to enlarge)
Click to Enlarge Name: gbplfx.gif Size: 24 KB
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #172,732
  • Oct 2, 2009 10:04pm Oct 2, 2009 10:04pm
As the global economy stabilizes, different players from around the world will resurrect their calls for reserve diversification. This topic was pushed to the sidelines when central banks around the world had more urgent tasks at hand but the sell-off in the dollar was triggered by a report from the UN’s Conference on Trade and Development that called for a reduction in the Dollar’s role as the primary currency for global trade. Reserve diversification is not a dead issue and could remain a risk for the dollar in the coming months. However with that in mind, there are also reasons why the dollar could rebound. Most of the improvements that we have seen in economic data have come from cash for clunkers programs in the Eurozone, U.K. and the U.S. As these programs expire, the pace of recovery could slow which would dampen the rally in the currency market. Back to school sales have also been lackluster which means that the next 2 to 3 months could be tough for retailers. After such a sharp sell-off in the dollar, the risk of a rebound is high, but ultimately we still believe that the dollar could fall another one to two percent.

After what I saw today, I am starting to amend my thinkings, though. Not for sure yet, but will know Wednsday.

Jim

Quoting wormboy
Chart below explains what I mean by dollar powering up. Tweezer bottoms at support level & the tri star formation indicates a trend reversal.
I hope jim can show what he meant by dollar weakness because I don't see it.

Cheers.
  • #172,733
  • Oct 3, 2009 2:48am Oct 3, 2009 2:48am
Hey Mike, hows it going bro, hope you are OK. BTW see you back in our usual place on Monday.
You've got to be IN IT to WIN IT!
  • #172,734
  • Oct 3, 2009 3:14am Oct 3, 2009 3:14am
Quoting wormboy
Chart below explains what I mean by dollar powering up. Tweezer bottoms at support level & the tri star formation indicates a trend reversal.
I hope jim can show what he meant by dollar weakness because I don't see it.

Cheers.
indeed that is bullish, but no doubt it is farting around, that why i was bearish theres a bullish doji and we might drop down a bit b4 take off..

i need to catch mah ride

Quoting wormboy
okay.
well I can live with short term, but I was responding to jim's long term outlook of cable blowing the lid off 61xx & go higher. Sure would help if he'd put up a chart or a link to the big boys whatever he was talking about anyway.
for sure, oxygen tank is full, google prepared, flippers as well..i just need a pickup..
  • #172,735
  • Oct 3, 2009 4:10am Oct 3, 2009 4:10am
Can any one tell from where i can download dollar index platform ?
  • #172,736
  • Oct 3, 2009 5:40am Oct 3, 2009 5:40am
Friday's Daily closed as a bullish pinbar, (The 4hr too closing as abullish pinbar at Friday's market clse. The Weekly candle closed almost a doji (probably a spinning top?) this after the bearish candle close of the september monthly candle. The pinbar on the daily falls in a previous swing lo=prev supp=potential support zone on that t/f (although not on the higher weekly t/f) and again the 50% fib fan of the current Yearly Lo-Hi 3505-7044- a second touch at Friday's 5800 Lo.
http://i33.tinypic.com/mo4sy.gif
Looking again above current price on the daily t/f, the chart below shows where price found it's tp this week after the recovery from early Monday lows @ 5767,..the previous Daily swing lo=previous support=potential sbr zone with the 50% fib of the6468-5767 move. Aove there and there are previous ascending support trend lines that may act as sbr on a test from the underside as well as obvious previous swing hi's=prev resistance=potential resistance and a descending potential resistance trend line. There are of course more fibs of other moves from and including the current 7044 yearly Hi not shown on chart below.
http://i35.tinypic.com/1z2lwgo.gif

G/L with forthcoming week.
ex member
  • #172,737
  • Edited 6:09am Oct 3, 2009 5:54am | Edited 6:09am
Yo T my brother from another mother

i wanna quote some thing mr green wrote i think its is beautiful, i must get this book anyways....



(I always love when I have an opportunity to quote from my fav trading book ROASO ~Edwin LeFevre
The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you you hope that every day will be the last day—and you lose more than you should had you not listened to hope—to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out—too soon. Fear keeps you from making as much money as you ought to.

The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does.

Trading is a path to self awareness,. If you really do not want to work on yourself and your issues then you are just donating to the other traders account.

  • #172,738
  • Oct 3, 2009 5:59am Oct 3, 2009 5:59am
I want to download dollar index charting platform. I dont have in my meta trader can anyone help
  • #172,739
  • Oct 3, 2009 6:04am Oct 3, 2009 6:04am
Quoting pakitrader
I want to download dollar index charting platform. I dont have in my meta trader can anyone help

address is in the red box brother!!
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 62 KB
  • #172,740
  • Oct 3, 2009 6:08am Oct 3, 2009 6:08am
Quoting nAVIN2007
Yo T my brother from another mother

[i]The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. In speculation when the market goes against you you hope that every day will be the last day—and you lose more than you should had you not listened to hope—to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out—too soon. Fear...
Very true. Something to be very aware of in one's day to day dealings.

Thanks for the post.

Regards
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