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Cable Update (GBPUSD)

  • #208,301
  • Mar 21, 2010 4:12am Mar 21, 2010 4:12am
If I read the article correctly it says US dollar would still be a safe haven and recommends buying gold. I don't think that adds up. If gold is going to go up the dollar is going to go down most likely.
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #208,302
  • Edited 5:04am Mar 21, 2010 4:50am | Edited 5:04am
Quoting england33
If I read the article correctly it says US dollar would still be a safe haven and recommends buying gold. I don't think that adds up. If gold is going to go up the dollar is going to go down most likely.
This is an investment publication and they have been longing gold since 2001 and still are, so as you can see their vision is LONGER-TERM, even decades! This publication has been around since the turn of the 20th century.

You are right to say that when the $ is strong, gold and oil usually are weak and vice versa.

Quoting bbakker
The dollar
... America is no slacker when it comes to rampant public borrowing: its deficit for last year came in at nearly 10%.

But none of that matters – at least, not right now. That's because the dollar is still the world's reserve currency. Global central banks and institutions hold more dollars than they do anything else. Global trade is largely conducted in dollars. And when investors get scared, it's the dollar they run to. During the financial crisis in 2008, the dollar leapt as people retreated en masse to 'safe'...
Quoting bbakker
But with markets likely to focus on sovereign debt problems elsewhere this year, not to mention the threat of China's economic activity slowing, there's plenty of scope for investors to retreat to the perceived safety of the US dollar all over again.
Also there is the debate as to whether the $ should be the world's reserve currency, but money talks and money will determine the reserve currency in the long-term.

So take the article with a pinch of salt as it has been lifted and not in context with their overall view, it is just their view on the currency market over the next 12 months and longer with other alternative investments as opposed to playing the currency market. They have views on many different investment vehicles. I enjoy the publication and it has become a Saturday ritual for me now.

We are in the short-term game and you should trade what you see in your charts!

The golf course is beckoning me now

P.S. Their web site is www.moneyweek.com and no I don't work for them! I'm an IT boy!
  • #208,303
  • Mar 21, 2010 5:06am Mar 21, 2010 5:06am
salam hi alll

i feel sorry for u azz's crackheads u should be enjoying the outdoors not the screen by the there is no cure from crackforex darn my garden is waiting for me ???? she told lazy azz u wanna stay high all the time no more veg's for u man still high from last week
  • #208,304
  • Mar 21, 2010 5:29am Mar 21, 2010 5:29am
Quoting kill56
salam hi alll

i feel sorry for u azz's crackheads u should be enjoying the outdoors not the screen by the there is no cure from crackforex darn my garden is waiting for me ???? she told lazy azz u wanna stay high all the time no more veg's for u man still high from last week


I will be enjoying 18 unadulterated holes this afternoon
  • #208,305
  • Mar 21, 2010 6:50am Mar 21, 2010 6:50am
Quoting bbakker


I will be enjoying 18 unadulterated holes this afternoon
Now THAT sounds like fun... well unless you're talking about golf.
Every time you use 'hopium' in a post, God kills a kitten.
  • #208,306
  • Mar 21, 2010 8:19am Mar 21, 2010 8:19am
There seems a support in 14973, and stoch has a up trend

So my plan
Buy 15000
SL 14960

Target 15140
  • #208,307
  • Mar 21, 2010 9:19am Mar 21, 2010 9:19am
Quoting forexlion
sorry, but i am no longer part of FF, so i cannot guide anymore, no one needs me here.

Lion, Your words make me:
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Always looking the GREAT, never left GOOD Point...
  • #208,308
  • Mar 21, 2010 9:24am Mar 21, 2010 9:24am
Looks to me like we are precariously balancing between the Monthly Support and the Weekly pivot on my 4 hour chart. A break below the weekly support could see fall to test the monthly support, a break above the weekly pivot could see the daily support challenged.

The chart shows 2 similar trade patterns inside of the purple boxes, showing that we might stand a better chance for some lower lows, after a little buy back, shown in the yellow box.

If the pattern holds and we see somewhat of a proportional movement, we might just see the S3 line touched and plummet back to test the Weekly/Monthly support areas.

Cheers.
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  • #208,309
  • Mar 21, 2010 9:33am Mar 21, 2010 9:33am
Quoting forexlion
sorry, but i am no longer part of FF, so i cannot guide anymore, no one needs me here.

The truth is that our finest moments are most likely to occur when we are feeling deeply uncomfortable, unhappy, or unfulfilled. For it is only in such moments, propelled by our discomfort, that we are likely to step out of our ruts and start searching for different ways or truer answers.

we need u azz in here
  • #208,310
  • Mar 21, 2010 9:42am Mar 21, 2010 9:42am
Quoting forexlion
sorry, but i am no longer part of FF, so i cannot guide anymore, no one needs me here.

dont leave bro!!! ..plenty of love for u in da house
  • #208,311
  • Mar 21, 2010 10:04am Mar 21, 2010 10:04am
Quoting forexlion
sorry, but i am no longer part of FF, so i cannot guide anymore, no one needs me here.
So WHAT? There are plenty of peeps who give UNNEEDED advices in here anyway...
  • #208,312
  • Mar 21, 2010 11:14am Mar 21, 2010 11:14am
So if you're happy to risk spread betting the currency markets, then we'd agree with Jim Mellon, chairman of Burnbrae Capital, who reckons you should short the euro against the dollar at $1.3760, with a year-end target of $1.31. Mellon also thinks it's worth shorting the yen versus the dollar – his target is 99. And if you're feeling very adventurous, Saxo Bank's suggestion that contrarians might want to buy the pound against the Australian dollar looks like it could be a winning play on mean reversion – although we'd make sure it was a short-term trade. For more on timing your trades, see another article: How to turn yourself into a chartist. (If anyone is interested, I can send this article which focuses on cable too via private message, just let me know)

could you send me this bbakker???

thanks brother
@pawpaw1000 on Twitter
  • #208,313
  • Mar 21, 2010 12:13pm Mar 21, 2010 12:13pm
Quoting luckymore
does any one think that gbp will recover? cos im long and holding on for dear life in the hope that it will recover! am i wasting my time? should i just cut my losses and go short from now in order to recover? please advise!!!!!!!!
When market opens place a 20 pip stop and 20 pip profit limit. When market moves in your direction follow by locking in profit.(make loss smaller) When stopped out take the lesson learned from it and move on. Do not make the same mistake again. Preserve your capital to be able to take the next trade. Holding on to losses kan keep you out of potential profitable trades for days.
Never Ever Give Up!
  • #208,314
  • Mar 21, 2010 12:22pm Mar 21, 2010 12:22pm
Quoting luckymore
does any one think that gbp will recover? cos im long and holding on for dear life in the hope that it will recover! am i wasting my time? should i just cut my losses and go short from now in order to recover? please advise!!!!!!!!
After every drop or rise, there is always some retrace. I am waiting for a buy signal too, and i hope it will retrace a bit. but it might take another dip till around 1,.4950/70 before retracing.

Also, Head & Shoulders pattern developing on the H4 and it needs to go up to 1.5200 for the shoulder pattern to develop. I am hoping for that one and then go short....
  • #208,315
  • Mar 21, 2010 12:39pm Mar 21, 2010 12:39pm
Quoting luckymore
does any one think that gbp will recover? cos im long and holding on for dear life in the hope that it will recover! am i wasting my time? should i just cut my losses and go short from now in order to recover? please advise!!!!!!!!
Cash in your chips, open a demo account, and start practicing safe money management.

In this forum like a lot of others some people will be on the buy, while others will be on the sell. If you are holding on at a loss with hope, I have found that's when the market gets really hungry for the rest of your money.

Nobody knows for sure where we are headed, the long term prognosis from my perspective is short, big time, but I will play opportunity as it comes.

This isn't personal, I have blown away an account or two myself, so hopefully you will learn from my mistakes instead of surrendering you hard earned money to the abyss of the market.
  • #208,316
  • Mar 21, 2010 12:48pm Mar 21, 2010 12:48pm
i think this thread is to active considering the market is shut and also with regards to head n shoulders people we are not at a top of a trend..there is no head and shoulder ...

another thing yur view is as good as the person next to u ..nobody can see into a crystal ball hence need to use mm..

market will open then there may be some light depending on gap or not..

see u all ...market open..
  • #208,317
  • Mar 21, 2010 12:51pm Mar 21, 2010 12:51pm
Price has touched the trend line from March 1,2010. And MACD on 4H has already crossed below zero line, signalling further losses if price can' t bounce from here. Potential downside targets 1.47 - 1.46
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  • #208,318
  • Mar 21, 2010 12:59pm Mar 21, 2010 12:59pm
If one were to conduct a poll as at now, those rooting for the bears will win by a kilometre. But is it that clear-cut?

Agreed that as at Friday close the sellers outnumbered the buyers by about 1300%. All indices point downwards. Apart from the weekly chart, RSI is oversold on the other high TF charts. The fundamentals also lend a helping hand in the southward movement.

But this is the cable. I thought we are agreed on this forum that the BOE watches over the cable very closely. Besides, any reader of WMD thread would have seen that the cycle of breakout and pullback has been completed on the H1, H4 and D1 charts and that the next direction should be up.

But above all, are the bear proponents saying the the low trend line on the enclosed H4 chart is not valid?

In my area, we have a saying that the vulture is not bordered about the fate of her forthcoming child. If the child survives, she celebrates but if the child dies, it becomes food. So, for me, I am keeping my fingers crossed. If the prices hits 5040, then it is northbound but if it nose-dives to 4980 then the bears have it. And I am waiting at these two points
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  • #208,319
  • Mar 21, 2010 1:45pm Mar 21, 2010 1:45pm
Quoting pqt
Price has touched the trend line from March 1,2010. And MACD on 4H has already crossed below zero line, signalling further losses if price can' t bounce from here. Potential downside targets 1.47 - 1.46
One potential saving grace from this bearish view is that both CCI and Momentum look to have bottomed (albeit temporarily) and there is a good chance of a pullback b4 further fall.
  • #208,320
  • Mar 21, 2010 1:48pm Mar 21, 2010 1:48pm
Price is at about 1.50279 at the moment.

So we should be expecting a gap up once market opens later.
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