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Cable Update (GBPUSD)

  • #180,141
  • Oct 30, 2009 3:39pm Oct 30, 2009 3:39pm
Took some more longs

http://img504.imageshack.us/img504/2851/gu302.jpg
lowest draw down possible please.
  • #180,142
  • Oct 30, 2009 4:15pm Oct 30, 2009 4:15pm
Quoting ehrek
Took some more longs
i am really trying to have my long term bear bias not to override what i see on the charts but i gotta say all dips are being bought there is no question about that in my mind
also this just looks like a weak longs shakeout...
if indeed it is i`d expect 1.67 and 1.6740 test at least, if this is just last remnants of the bearish covering rally i`d wait til 1.61xx and 1.58, 1.57, and u know the rest 1.37xx
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,143
  • Oct 30, 2009 9:12pm Oct 30, 2009 9:12pm
Wow,

After all that garbage we end back at the UTL that has been controlling the works since Sunday night. This is a 120 pip channel or so and if it stays awhile it could be lucrative. It just don't seem to want to get below it. Looking out at the weekly we seem to have breeched the long term DTL, for the moment. This puts 1.7000 in the mix now. To get a better look we switch to the daily and see the break and test of he DTL. My short sentiment has changed from short to long.
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  • #180,144
  • Oct 31, 2009 6:27am Oct 31, 2009 6:27am
Quoting Geppyg
My first order in at xx Lots at 1.6470 My Target is now 1.6100.
Enjoying my Fruits of pips....

Stop now moved to break even: +65 pips in the bank at present.....

Happy trading Everybody
Let Price determine your future!
  • #180,145
  • Oct 31, 2009 11:14am Oct 31, 2009 11:14am
Skype:forexbesttrading
Why not to make a group in skype for real time idea exchange and possibly making a trading team
I have a group: trading for the investor in skype.
Who wants to join give your skype names
  • #180,146
  • Oct 31, 2009 3:53pm Oct 31, 2009 3:53pm
Quoting Nene
Wow,

After all that garbage we end back at the UTL that has been controlling the works since Sunday night. This is a 120 pip channel or so and if it stays awhile it could be lucrative. It just don't seem to want to get below it. Looking out at the weekly we seem to have breeched the long term DTL, for the moment. This puts 1.7000 in the mix now. To get a better look we switch to the daily and see the break and test of he DTL. My short sentiment has changed from short to long.
long term ? long .. mmmm

I am short bias

here is why

jma blue = down move still in tact we tested 1.6700 forming a lovely head and shoulders on weekly

as long as 1.6700 holds the down trend forming on weekly is just starting...

wave 1 m wave 2 complete .. wave 3 = 1/4600

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Blogging daily now at www.volume.zone
  • #180,147
  • Edited 5:13pm Oct 31, 2009 4:27pm | Edited 5:13pm
Quoting malcolmb14
long term ? long .. mmmm

I am short bias

here is why

jma blue = down move still in tact we tested 1.6700 forming a lovely head and shoulders on weekly

as long as 1.6700 holds the down trend forming on weekly is just starting...

wave 1 m wave 2 complete .. wave 3 = 1/4600

Attachment
Dear bro
First i'm happy because experience trader like you have an analysis goes exactly as mine ,When guys was saying 1.57 i was afaid to tell so,They will call me nuts.

2-I got that result by Different tool and way of analysis and we met at same point(My Target the dots line on my chart around and the blue rectangle show strong support could retrace or reverse from there)
http://www.forexfactory.com/showthre...36#post3145936

BTW :I expected also e/u goes to....

Snapshot of my faviourt movie" " I'm Dieing to meet him" I'm dieing to see this Fall"
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Attached Image
  • #180,148
  • Edited 5:17pm Oct 31, 2009 5:07pm | Edited 5:17pm
I find these points extremely tough. I still am not sold on the weekly DTL being broken, Notice I said....Seem to have broken it and .....For now....LOL But I did not notice the H & S, wow, what a nice one. I am tending to agree with ya now that you pointed that out. But would you rule out a trip up to 1.6550 before any more decline?

Jim

Quoting malcolmb14
long term ? long .. mmmm

I am short bias

here is why

jma blue = down move still in tact we tested 1.6700 forming a lovely head and shoulders on weekly

as long as 1.6700 holds the down trend forming on weekly is just starting...

wave 1 m wave 2 complete .. wave 3 = 1/4600

Attachment
  • #180,149
  • Nov 1, 2009 3:10am Nov 1, 2009 3:10am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Posted on DT's thread.

http://www.forexfactory.com/search.p...duser&u=100694


Despite dow going mental pound only dropped to 64200 as mentioned, right to the pip. Sudden 100 pip spike from somewhere taking all stop loses with them right to 65230 then back to 64200 (banks do this cleansing process for all trading vehicles result of rumour reaction). Fib ratio's!!

I see it further dropping to 63500 and that's it. We also have UK news to digest on 5th before any clear direction!!

Have a good one.

Ta
ams
  • #180,150
  • Nov 1, 2009 5:17am Nov 1, 2009 5:17am
Quoting ams
Posted on DT's thread.

http://www.forexfactory.com/search.p...duser&u=100694


Despite dow going mental pound only dropped to 64200 as mentioned, right to the pip. Sudden 100 pip spike from somewhere taking all stop loses with them right to 65230 then back to 64200 (banks do this cleansing process for all trading vehicles result of rumour reaction). Fib ratio's!!

I see it further dropping to 63500 and that's it. We also have UK news to digest on 5th before any clear direction!!

Have a good one.

Ta
ams

-- (UK) PM Brown planning to announce new fiscal stimulus with autumn pre-budget statement - London Sunday Times- Brown plans to announce new spending worth billions of pounds directed toward housing, infrastructure projects and training.
- the Times reports that recent GDP data showing the UK is still in recession "convinced Brown that more spending will be required next year to support any faltering recovery." A cabinet source said it will also serve as a political message ahead of next year's national election that the Labor Party will support the economy when necessary in contrast to the Conservatives.

-- Citigroup analyst forecasts BOE will expand quantitative easing by £25B to £200B next week (timing uncertain)**Reminder: On 10/29 BoE commented that it has completed current €175B in GILT purchases for APF.
- note: a recent survey of economists show that a majority are now expecting the BOE to boost the QE program by £25B at the November 5th meeting

-- (EU) ECB's Noyer: FX problems stem from USD, GBP weakness- Not recent abnormal moves in other currencies versus EUR
**Reminder: Earlier this morning he noted that weak USD might hurt EU recovery
- Effective rate only slightly above LT average


Lubo.
If I know how, I tell You!! Few but Good!!
  • #180,151
  • Nov 1, 2009 6:14am Nov 1, 2009 6:14am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
only a talk yet. we have to see what happens on 5th Nov. It could go more.





Quoting LuboLabo
-- (UK) PM Brown planning to announce new fiscal stimulus with autumn pre-budget statement - London Sunday Times- Brown plans to announce new spending worth billions of pounds directed toward housing, infrastructure projects and training.
- the Times reports that recent GDP data showing the UK is still in recession "convinced Brown that more spending will be required next year to support any faltering recovery." A cabinet source said it will also serve as a political message ahead of next year's national election that the Labor Party will support...
  • #180,152
  • Nov 1, 2009 8:44am Nov 1, 2009 8:44am
hi all

just update the doomed cable
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  • #180,153
  • Nov 1, 2009 11:55am Nov 1, 2009 11:55am
Quoting kill
hi all

just update the doomed cable
Kill,

Can you please post the harmonic trading patterns indicator you are using? Thank you.
  • #180,154
  • Nov 1, 2009 11:57am Nov 1, 2009 11:57am
Quoting kill
hi all

just update the doomed cable

how about cit news ..... could be filing for bankruptcy today
Blogging daily now at www.volume.zone
  • #180,155
  • Nov 1, 2009 12:05pm Nov 1, 2009 12:05pm
Quoting malcolmb14
how about cit news ..... could be filing for bankruptcy today

http://www.bloomberg.com/apps/news?p...03Rw1_g&pos=10
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #180,156
  • Nov 1, 2009 12:14pm Nov 1, 2009 12:14pm
Quoting malcolmb14
how about cit news ..... could be filing for bankruptcy today

sure it could afict the market other news sodia arabia might change the doller and sell the oil with other curency
  • #180,157
  • Nov 1, 2009 12:29pm Nov 1, 2009 12:29pm
Quoting kill
sure it could afict the market other news sodia arabia might change the doller and sell the oil with other curency
I try and ignore news as much as i can

perception of the market is that banking sector is healthy as they changed mark to market rules ... here we have potential failure of a major commercial mortgage holder.

even if feds ( aka Goldman sachs) buy it there will still be perception that the banking sector is not as healthy as it seems

I have a target es 875 ... and 600 by mid 2010.
Blogging daily now at www.volume.zone
  • #180,158
  • Nov 1, 2009 12:32pm Nov 1, 2009 12:32pm

  1. currently range-bound on daily chart
  2. just bounced down from upper resistance
  3. triangle forming on hourly chart


waiting to go short when positive trendline is broken on hourly chart. anyone else waiting to go short?

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  • #180,159
  • Nov 1, 2009 12:39pm Nov 1, 2009 12:39pm
Quoting malcolmb14
I try and ignore news as much as i can

perception of the market is that banking sector is healthy as they changed mark to market rules ... here we have potential failure of a major commercial mortgage holder.

even if feds ( aka Goldman sachs) buy it there will still be perception that the banking sector is not as healthy as it seems

I have a target es 875 ... and 600 by mid 2010.

my target for the 1Q 13000-12000
  • #180,160
  • Nov 1, 2009 12:57pm Nov 1, 2009 12:57pm
Quoting kill
my target for the 1Q 13000-12000
lol....13000 dj

what !!!

The S&P 500 PE ratio is an important determinant of the value of stock market and the trend of the S&P 500 (^GSPC: 1036.19 -29.92 -2.81%). Historically, the S&P 500 PE ratio has a median of 15.7. Today, the S&P PE ratio is 139 based on a closing price of 1,044 on Friday, September 11, 2009

p/e has to come back to 20 to be in the median .....means min 50% loss of dj while earnings of companies increase to reduce another 50% to bring back inline with median

pretty simple really ....

if drop as fast as wave 3 then we could see 7000 by april 2010
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