Cable Update (GBPUSD)

James,
Get used to this thread/forums. This is what i have observed since i been here. People predict cable can travel so far this and that lol. When GU makes a 300 pip up move everyone starts saying 1.5500/700 or 1.7 lol and it if makes a strong down move they start saying 1.3800 lmaoo

Obviously it will takes months to achieve any of this target. We cannot even think of 1.5300 unless it breaks the downward channel it has been respecting since mid 2009, almost a year !!!

most traders in this thread is fake, i post my real account platform to show what trades i was in and people got mad, if your real then you should have no problem posting your real account, you can delete your account number and name, i also notice people posting there trades after the market made it's move, fake calls is what i call it

I didn't pay attention that details...here is my chart on gbpusd...

Hello everyone .This is what i see on my charts.Monthly at major trendline.Weekly at 38.2. Daily at 78.6 fibo.Expecting a retrace down from here .Comments welcome.

Absolutely agree. If one can make consistent money trading, he/she will do a lot better managing ONE account (his own) and with far less risk, beause 's#%*' happens & if you take a hit on your own account, you just go to work to build it up again .. and not have to deal with lawsuits, evil eyes or angry rednecks gunning for you...
Likewise for people hawking EA's or robots that 'guarantee' success. If I ever invent one of those, much as I love you guys, you're never gonna know about it!!!

The problem with posting real accounts is it is of no use to anyone else. Glad you are making money, but unless you post charts that tell us WHY you are taking your trades, we learn nothing from your account balance!

honeybhi & makefx charts are good examples of useful posts.

http://img4up.com/images/23568365756920452676.gif


Will be interesting to see how cable plays out at this level


Regards


Red

Thanks for being logical.

I can cook up a photoshop doc of a "real" trading account in 5 minutes, that's easy. So posting accounts is complete BS.

The sad truth is, 98% of the people posting on FF don't make money trading (including many of the senior traders). People lie out of convenience or weakness, and create the false impression that this is a viable way to earn a living. It just isn't true for the majority of people.

The 1% or 2% of people who earn a living trading are extraordinary individuals.


People can say whatever they like, but in the end, real results are real results. If someone wants to brag, then they should do a live demo to prove it. It's very simple to set up on MT4.

trading is difficult - spot on
I hate it when people talk abt trading like it is easy when that statistics speak for themselves..and the ones that trade and exit after 20 pips or so ..are closing position due to fear of the market as apposed to solid trading disipline..

I agree..plenty of hot air in forum

Hi all
Wish it to be nice week to all
Anyone have long term view would like to share or discuss about?

so what exactly keeps us coming to this forum?

Hi egkid,

I think we are in a long term uptrend.
Problem explaining "why" is that any investment analist is able to make a story which sounds nice for both ways at the same time so my arguments are not 100% conslusive and maybe not 100% unbiased.
1. G was for years one of the weakest currencies because of excessive QE views together with U, because G wasn't a reserve currency it has been hit more then U. Now GB-policy turns 180 degrees no more QE while US-policy still favors QE, this change in policy starts the recovery of G against U
2. Being not a member of EU economic policy can be far more dynamic and effective in stead of being part of EU
3. Long term trend starting with daily broke on upside, because this break is so young it will take some time to see weekly and monthly breaks....
4. Strength of US has been artificial because there were no real alternatives and fears on defaults, economy etc lead to the "old" story of flight to reserve currency. As US's largest creditor China is very unhappy with their huge USD-holdings they are quietly shifting new investments to other currencies but mainly to hard assets, they will buy every mine they can get hold on. The day is nearing that the USD will lose its benefit of having the reserve currency
5. The fact that USA stills favors QE (too much debt and too much consumption are addressed by creating more debt and more consumption). the extremely low long term interest rates (making U very unattractive), the gradually loss of its currency-reserve advantage and the extreem shift of GB and Europe in abandoning QE will lead to a huge decline of the USD.
6. The economic world power assessment 1800-1900 GB, 1900-2000 USA is gradually (2000-2100) shifting to China

lag of consistant results in fx?

I can see a TOTAL DOLLAR COLLAPSE because of the BP Oil spill. When they BLAST the Gulf Coast this August with a HAARP Manufactured Hurricane its Game Over for America!

well thought out post 10/10 from me.

Hi all,

Here is my another trade setup on USDCHF for your reference:

1. USDCHF : Sell around 1.0790 - 1.0830 (1.0830 is around the EMA200 on Daily timeframe and lots of resistance there)
- Stop loss: 1.0880
- Take profit 1 around 1.0510
- Take profit 2 around 1.0150
- Maximum take profit 3 around .09950

This is a very good trade setup for long-term run, and it may last more than 1 week to few weeks to reach such huge pips profit target.

I look at long-term, medium term trend on many big timeframes (Quarterly, Monthly) and daily, 4h timeframe on GU, and Eurusd. I do opine that intermediate / medium term trends for these 2 pairs are on the upside, but long-term trend is DOWN.

I think Eurusd might reach nearly equal to 1 euro = 1 usd in the long term (around 2 - 6 months from now), or at least, it will go down to 1.1200 or 1.1650 level. Time will tell if my forecast based on Time and Gann analysis is correct or not. Prediction of long term trend is very very difficult, but anyway, it is for reference. Once this thing happens, I will go long on Eurusd for massive rally to the upside.

I still recall my past year in 2008, when most people thought gold price would go down to 500 - 550usd/ounce, but my forecast was around 650 - 680usd/ounce as maximum bottom price, and gold price would start a massive rally up to challenge 1000usd/ounce level quickly. I also used Quarterly and Monthly timeframe to forecast on bottom price level of 650 - 680usd/ounce, together with strong support trendline.

Now, for spot gold price, I still think that it has made a TemporaryTOP at 1265usd/ounce level last time, and it will need to go down rather strongly to digest such a huge and massive rally for the recent time. Maybe, 1030 - 1050usd/ounce will be a good price level to go long to aim at 1320 - 1350usd/ounce level if anyone interested in buying physical gold, and even spot gold.

My technical analysis was first on the spot gold price when I just studied it. Then, I applied same technical analysis on forex, stocks, and crude oil later on.

We are all students of financial markets, and there is nothing perfect in life. So, exchange trading ideas and analysis is a good way to make us better and better. Nothing to be proud of or be ashamed of if we are very accurate or sometimes wrong.

If we are self-satisfied with ourselves or arrogant, then, we will not make any new progress in the future. As long as we have good mind, good intention to share, exchange what we think or forecast on the market based on what we know about technical analysis with the purpose of helping each other, that's always good.

Around the end of last year, 2009, I made a sell call on GU with around 50 pips stop loss, and profit target of minimum 500 pips to 800 pips on Kitco, all the guys there laughed at my forecast, and said how come that thing would happen. But finally, it was correct, and they all kept silent.

So, we are here not to criticize other people on how good or how bad their analysis is, but we are here to exchange our analysis, and forecast to make money in forex, and help each other, right?
Remember that you are the one who make your own decision to trigger the trade, and so, you should be responsible for that action. Our sharing of market analysis here is only for our friends' reference and at least, for the newbies to double-check on their charts to see if it is correct or not, when the trade setups occur, and if correct (I mean if they really do see those price levels are reversal price levels, then, they just trigger the trade, and follow with good money management, that's all).

We do not ask other people for any money, and so, why try to cheat other people, or why have intention to make other people to lose money, right?
All calls and analysis of us here are FREE.

Wish all of us great trading week and many pips in GREEN !

Regards,
James

Hi All,

What do you think about the latest news from the UK and their plan to cut spending up to 40%.

How will it affect the Cable?

the 40% is a worst case sinario. 25% is the amount some departments have been giving targets of. i think my self that the Con/dem partnership will fall to pieces.

Any chance of a restest of 1.50 before a touch of 1.53?

we are not going to 1.5300. GU is out of steam. Get that out of your head. Honeybhi posted some interesting charts earlier. Lots of resistance and fib lines in the middle. 235, 260 280. GU loves the 5240-250 area. It will come take a days rest over there... Today bank holiday. if we are lucky we might see 1.5080.