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Cable Update (GBPUSD)

  • #174,881
  • Oct 9, 2009 1:53pm Oct 9, 2009 1:53pm
Quoting egkid
WHO said forex is hard, MS3 1.5816
nAVIN2007 Wormoby Best guys on g/u

believe me bro..theres a lot better out there than me..

still learning ..today is a day brother! that no indicator could explain this, the only way to get this move was without indicator and price action analyst

fibs would have killed u....and also show always trust your instincts, u were in this as well..be proud u saw it!!

great weekend to u bro!!
  • #174,882
  • Oct 9, 2009 1:58pm Oct 9, 2009 1:58pm
Quoting pakitrader
Brother if we close above 5810 we should prepare for this thing
What is your opinion
no man! u missed its not going back up there..i will kill u if it does (just kidding) ..we tested the head n shoulder neckline again..price is moving down quick to setup weekly chart for more drop..breaking the range is what u seeing....
  • #174,883
  • Oct 9, 2009 1:58pm Oct 9, 2009 1:58pm
"Not very surprisingly, CNBC reported last night that:

"Asian central banks bought U.S. dollars early in the global session on Thursday to weaken their own currencies, traders said, as the slumping greenback threatens smaller export-driven economies. Asian central banks said to be intervening in currency markets overnight by buying dollars included South Korea, Hong Kong, Taiwan, Thailand, the Philippines and possibly, Indonesia, according to analysts. Emerging market Asian nations, already struggling with the tepid U.S. recovery and weak demand for their exports from the world's largest economy, have been doubly hurt because their currencies appreciated against the dollar, prompting repeated intervention.

There was also an indication that Russia bought as much as $4 billion this week, including $1.4 billion overnight, several market participants said. Russia was reportedly one of "at least six central banks buying dollars," said Michael Woolfolk, senior currency strategist at BNY Mellon.

Though some confirmation may come next week with the release of the Treasury International Capital flows report for August, most investors appeared to accept that central bank dollar buying is rational, if only as a hedge against more expensive safe haven flows at a later date. The risk of course, is that the dollar loses value, making purchases now a bad bet."

Source: kitco.com
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  • #174,884
  • Oct 9, 2009 2:01pm Oct 9, 2009 2:01pm
Quoting kanji
placing a buy order, @5805 let see if she holds...

navin and wormboy, watching u quietly, your going real good,I think you r the %2 percent of winners in forex world while 98% losing
thank u for your kind words but i can assure im not..am learning brother patience for me is the key thing..am just happy finally i seem to have stuck to a plan..that for me is a huge step forward..

be lucky
  • #174,885
  • Oct 9, 2009 2:03pm Oct 9, 2009 2:03pm
any idea the cable will go up or down from here 1.5840
  • #174,886
  • Oct 9, 2009 2:05pm Oct 9, 2009 2:05pm
Quoting nAVIN2007
we tested the head n shoulder neckline again..price is moving down quick to setup weekly chart for more drop..breaking the range is what u seeing....
I don't care what charts says, but if Euro holds in $1.47-1.48 area

You not going to see much drop of "Cable". Jawboning effect will lose

it's power in 24 hours and It's pretty much clear, that we can see EURO flying

over $1.48... Why would GU drop to 1.53 then?
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  • #174,887
  • Oct 9, 2009 2:07pm Oct 9, 2009 2:07pm
Quoting SkyzerFX
I don't care what charts says, but if Euro holds in $1.47-1.48 area

You not going to see much drop of "Cable". Jawboning effect will lose

it's power in 24 hours and It's pretty much clear, that we can see EURO flying

over $1.48... Why would GU drop to 1.53 then?
no charts? so what do you trade with? hope?
Thank You
  • #174,888
  • Oct 9, 2009 2:13pm Oct 9, 2009 2:13pm
Quoting wormboy
no charts? so what do you trade with? hope?
Charts and indies has about same accuracy as gut feeling

Yes GU could drop to $1.53 and also can rise to $1.62. I would

watch EU in that matter.. If EU will move higher, no reason for GU to drop

it's already out of whack in terms of EU/GU ratio... Sorry GU moving higher

from here, that's what I think, of course, I could be wrong and you maybe

right, that's why there is always buyers and sellers..
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  • #174,889
  • Oct 9, 2009 2:14pm Oct 9, 2009 2:14pm
Quoting nAVIN2007
no man! u missed its not going back up there..i will kill u if it does (just kidding) ..we tested the head n shoulder neckline again..price is moving down quick to setup weekly chart for more drop..breaking the range is what u seeing....


Brother today is weekly closing and i believe we are still in the danger area i e wedge is look NY books loosing steam now and might starting profit taking before close. But i hope we fall from here coz i got a sell if it goes up then i am not gona give up and not closing my short. Hope for the best.
  • #174,890
  • Oct 9, 2009 2:19pm Oct 9, 2009 2:19pm
Quoting wormboy
there she goesssss. 5750 tonite. any takers?
On the open, sunday night
  • #174,891
  • Oct 9, 2009 2:19pm Oct 9, 2009 2:19pm
room what we need now is the dow to dive then the party is on all next week
  • #174,892
  • Oct 9, 2009 2:19pm Oct 9, 2009 2:19pm
Quoting pakitrader
Brother today is weekly closing and i believe we are still in the danger area i e wedge is look NY books loosing steam now and might starting profit taking before close. But i hope we fall from here coz i got a sell if it goes up then i am not gona give up and not closing my short. Hope for the best.

with a dailly like today..market has shown a direction, seeing is believing, why is not important, finally u drive the south bound train south..

good job!

it just need to dive a bit more but i dont think it will have a problem, u have to be nuts to long this candle
the weekly chart has bearish diverence as well..believe it or not 1.50 is on!!!
Attached Image(s) (click to enlarge)
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  • #174,893
  • Oct 9, 2009 2:22pm Oct 9, 2009 2:22pm
wormboy what u do think about the cady bro
  • #174,894
  • Oct 9, 2009 2:24pm Oct 9, 2009 2:24pm
Quoting SkyzerFX
Charts and indies has about same accuracy as gut feeling

Yes GU could drop to $1.53 and also can rise to $1.62. I would

watch EU in that matter.. If EU will move higher, no reason for GU to drop

it's already out of whack in terms of EU/GU ratio... Sorry GU moving higher

from here, that's what I think, of course, I could be wrong and you maybe

right, that's why there is always buyers and sellers..
I disagree & you are wrong.

You said you would watch EU. According to you IF it moves higher, then GU won't drop. That would mean, you will not be able to trade because you need to watch. So what will it take for you to place an order? A coin toss?
And what you think don't matter. You do not move the market.
Sorry I only trade based on charts & fundamental reasoning. Unless you can come up with some sort of analysis to back up your GU going up from here statement, what you just said is unacceptable.

Thank You
  • #174,895
  • Oct 9, 2009 2:27pm Oct 9, 2009 2:27pm
Bear trap before Johnson & Johnson, Intel, Nokia, General Electric, Halliburton, JP Morgan Chase, Citigroup, Goldman Sachs and Bank of America good results in the next week :-)
  • #174,896
  • Oct 9, 2009 2:27pm Oct 9, 2009 2:27pm
Hi nAVIN

May I ask you if I have open sell on G/$ ,where can I place my TP?

Thanks
  • #174,897
  • Oct 9, 2009 2:29pm Oct 9, 2009 2:29pm
Quoting nAVIN2007
u have to be nuts to long this candle
the weekly chart has bearish diverence as well

We'll check on that on Monday - Tuesday.


And it's
Monday, October 12 Columbus Day
BTW what is the best way to hedge GU long? Short GJ?

Any idea? Thanks.
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  • #174,898
  • Oct 9, 2009 2:30pm Oct 9, 2009 2:30pm
Quoting nAVIN2007
no man! u missed its not going back up there..i will kill u if it does (just kidding) ..we tested the head n shoulder neckline again..price is moving down quick to setup weekly chart for more drop..breaking the range is what u seeing....
Great southbound who else with us
Attached Image
  • #174,899
  • Oct 9, 2009 2:31pm Oct 9, 2009 2:31pm
Quoting wormboy
I disagree & you are wrong.

You said you would watch EU. According to you IF it moves higher, then GU won't drop. That would mean, you will not be able to trade because you need to watch. So what will it take for you to place an order? A coin toss?
And what you think don't matter. You do not move the market.
Sorry I only trade based on charts & fundamental reasoning. Unless you can come up with some sort of analysis to back up your GU going up from here statement, what you just said is unacceptable.

And this chart was posted 19 hours ago regarding EU. No gut feelings, just proper understanding of price action. Since that time EU had moved over 100 pips.
Chart : http://www.forexfactory.com/showpost...stcount=202372

No, EU does not look like it's going to 5000 based on the chart.
Thank You
  • #174,900
  • Oct 9, 2009 2:32pm Oct 9, 2009 2:32pm
Quoting SkyzerFX
We'll check on that on Monday - Tuesday.


And it's
Monday, October 12 Columbus Day
BTW what is the best way to hedge GU long? Short GJ?

Any idea? Thanks.
about hedging i have no clue..theres a guy called steviet i think hedge expert, i have n idea everytime i try and hedge i get it..

good luck with yur long thou
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