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Cable Update (GBPUSD)

  • #248,601
  • Aug 25, 2010 6:38am Aug 25, 2010 6:38am
Quoting nAVIN2007
AFTERNOON FOLKS..am in a slight mess here.. lets see what she does
monthly trendline is being protected right now
Hi nAV, long time no see....
Hope its still demo-money, major swing-turn could be near....
Don't be a hero. Don't have an ego. Always question yourself
  • #248,602
  • Aug 25, 2010 6:41am Aug 25, 2010 6:41am
Quoting errich fx
I think, gbp is trying make a new low

Attachment
she is sitting on support..quite a dangerous area to make a short here i think..
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart4.gif Size: 19 KB
  • #248,603
  • Aug 25, 2010 6:43am Aug 25, 2010 6:43am
Quoting USD-Bear
Hi nAV, long time no see....
Hope its still demo-money, major swing-turn could be near....
live account buddy..but compared to u folks yup demo money

u mean up or down..? i hope this mofo aint planing on going to 1.50
  • #248,604
  • Aug 25, 2010 6:52am Aug 25, 2010 6:52am
Yes, she IS going to 1500
  • #248,605
  • Aug 25, 2010 6:53am Aug 25, 2010 6:53am
Quoting nAVIN2007
live account buddy..but compared to u folks yup demo money

u mean up or down..? i hope this mofo aint planing on going to 1.50
Sorry to hear, I mean up, I hope too, you never know...
Don't be a hero. Don't have an ego. Always question yourself
  • #248,606
  • Aug 25, 2010 6:53am Aug 25, 2010 6:53am
Quoting Delite
I think this will be the dollar's third assault on the 8363/4 area (H4 chart). I believe third time is often break point.

Hi, can you explain briefly the correlation between US Dollar Index and GBP/USD?
I see a lot of posts refer to the Dollar Index.
How many computer screens do you guys have to monitor all these websites?
  • #248,607
  • Aug 25, 2010 6:53am Aug 25, 2010 6:53am
2:30pm USD
Core Durable Goods Orders m/m
http://cdn.forexfactory.com/images/m...etail_star.gif
0.6%-0.9%http://cdn.forexfactory.com/images/m...us_revised.gif
2:30pm USD
Core Durable Goods Orders m/m
http://cdn.forexfactory.com/images/m...etail_star.gif
0.6%-0.9%http://cdn.forexfactory.com/images/m...us_revised.gif

14:30: Core Durable Goods Orders m/m
What will this do? Go up?
  • #248,608
  • Edited 7:09am Aug 25, 2010 6:58am | Edited 7:09am
2:30pm ???...its supposed to come out at 8:30am !!

if dur. goods orders comes out w/ good numbers/positive, then S&P500 along with GBP will go up

...until new home sales data comes out.....then S&P500 will tank down like a torpedo and take GBP along for the ride, breaking thru present major support to next support levels below
  • #248,609
  • Aug 25, 2010 6:59am Aug 25, 2010 6:59am
Quoting USD-Bear
Sorry to hear, I mean up, I hope too, you never know...

i thought this was the safest way to go in with more leverage got six position in now, it has every change..range on weekly is poor can quite easily reverse only has to move up 340 pips or so to over turn things..monthly aint looking to great for beyond 1.60 unfortunately..

but u never know as u have said
  • #248,610
  • Aug 25, 2010 6:59am Aug 25, 2010 6:59am
Quoting joemiami
2:30pm ???...its supposed to come out at 8:30am !!
Sorry, I'm from Hungary, GMT+1 (or+2 )
  • #248,611
  • Aug 25, 2010 7:00am Aug 25, 2010 7:00am
Quoting joemiami
Yes, she IS going to 1500
Gbp didn’t make a new low, it didn’t break yesterday low ,it didn’t brake any major support level it didn’t followed eur/usd on way down…that is why I don’t see it want to go to 1500 . Price movement is in a wide range only. That is how I see it.
  • #248,612
  • Aug 25, 2010 7:02am Aug 25, 2010 7:02am
Quoting Piotr1
Gbp didn’t make a new low, it didn’t break yesterday low ,it didn’t brake any major support level it didn’t followed eur/usd on way down…that is why I don’t see it want to go to 1500 . Price movement is in a wide range only. That is how I see it.
simply a correction..nothing moves in a straight line
  • #248,613
  • Aug 25, 2010 7:02am Aug 25, 2010 7:02am
Quoting Mészike
Sorry, I'm from Hungary, GMT+1 (or+2 )

...Oh OK !! hello Hungary!!
  • #248,614
  • Aug 25, 2010 7:05am Aug 25, 2010 7:05am
out of trading today. good luck all.
  • #248,615
  • Aug 25, 2010 7:06am Aug 25, 2010 7:06am
Quoting nAVIN2007
i thought this was the safest way to go in with more leverage got six position in now, it has every change..range on weekly is poor can quite easily reverse only has to move up 340 pips or so to over turn things..monthly aint looking to great for beyond 1.60 unfortunately..

but u never know as u have said
I've noticed that the frequency between the change in economic hope versus fears is increasing, one would assume the fears are now in the prices so....
Don't be a hero. Don't have an ego. Always question yourself
  • #248,616
  • Aug 25, 2010 7:09am Aug 25, 2010 7:09am
4 hour candle gave a sell signal
  • #248,617
  • Aug 25, 2010 7:11am Aug 25, 2010 7:11am
Quoting nAVIN2007
AFTERNOON FOLKS..am in a slight mess here.. lets see what she does
monthly trendline is being protected right now
Nav man what did you do , not picking on you by any means but I watched you buy a lot of tops on the way down thru late winter and spring , dude I am no pro at drawing trendlines but with only trendlines on your chart question for you why were you starting to buy again in the areas you bought , the last ones near the bottom I can kinda see , but once the trendline gave way would think a reversal on the test of the trendline to the down side may have been a better option at the time and taking some profit now to see what happens . I had other reasons from longer time frames to get in on the retracement from near the top was just curious as to why you were buying in the higher areas , and like I said not picking on you I know you trade the longer time frames but even the daily says no buying or attempted buys till your lower posistions and when that trendline failed it was time to scrap the longs atm
Attached Image (click to enlarge)
Click to Enlarge Name: nav.jpg Size: 97 KB
  • #248,618
  • Aug 25, 2010 7:12am Aug 25, 2010 7:12am
Quoting joemiami
...Oh OK !! hello Hungary!!
Hello!

What worthy this announcement to make a step? Will he jump up?
  • #248,619
  • Aug 25, 2010 7:13am Aug 25, 2010 7:13am
Quoting joemiami
Yes, she IS going to 1500
hee hee!
  • #248,620
  • Aug 25, 2010 7:28am Aug 25, 2010 7:28am
Quoting digger1
Nav man what did you do , not picking on you by any means but I watched you buy a lot of tops on the way down thru late winter and spring , dude I am no pro at drawing trendlines but with only trendlines on your chart question for you why were you starting to buy again in the areas you bought , the last ones near the bottom I can kinda see , but once the trendline gave way would think a reversal on the test of the trendline to the down side may have been a better option at the time and taking some profit now to see what happens . I had other reasons...

what i did was exit all my postion around 1.6..i thought this could retrace and I simply bought as price fell..everything was based on monthly bullish candle and considered it a dip..

either i do this or hold my positions:- still im at a profit considering last month trade activity..i do agree thou this trade hasnt gone well at all..but it is in sink with largest time frame still and nothing has happen to make me think plan has failled.

selling would have been a lot easier by the way
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