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Cable Update (GBPUSD)

  • #249,441
  • Aug 27, 2010 11:59am Aug 27, 2010 11:59am
Quoting fxoxford
there was realy no action to the downside unless you was shooting for 30 pips, other then that taking a long around 1,5450 and ride it back up to the 1.550 area would got you more pips. shorts was never in play today just for some small pips
Sorry you are on my ignore list. I saw your post when someone else quoted you.

How are shorts not in play today? It dropped 100 pips since frankfurt open and retraced. Thanks for any valuable insight.
  • #249,442
  • Aug 27, 2010 12:00pm Aug 27, 2010 12:00pm
Quoting Magix
Quite the contrary here Cheeba....

There are several of us, newbs included that try to add to the discussion...little pricks like you who cannot be bothered to post a chart, or play method, but continue to show up with ridicule are really the true waste of forum space.

In all honesty, I really don't care who in the forex world or the FF makes money, because it really has no impact on my bank account....
let it out, you feel better
  • #249,443
  • Aug 27, 2010 12:00pm Aug 27, 2010 12:00pm
Quoting david777
Yo are probably right!! I look forward to the full vitriol being turned on me next week! - searching all my posts trying to find something to ridicule me for perhaps.

Chips on shoulders springs to mind!!!!!!!!!!!!
You have a tool to control that - see post by Scipionz on how to use Iggy !
  • #249,444
  • Aug 27, 2010 12:02pm Aug 27, 2010 12:02pm
Quoting trending
Sorry you are on my ignore list. I saw your post when someone else quoted you.

How are shorts not in play today? It dropped 100 pips since frankfurt open and retraced. Thanks for any valuable insight.
hope you made money from your shorts, good luck and i wish you well
  • #249,445
  • Aug 27, 2010 12:04pm Aug 27, 2010 12:04pm
Quoting fxoxford
let it out, you feel better
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,446
  • Aug 27, 2010 12:06pm Aug 27, 2010 12:06pm
Quoting vilas
Control his a**. Is he a Trader when he cribs about half pip more being charged by some big brokers than the smaller ones. I myself trade with a big broker and do not mind it just to make sure the small fry does not perform a disappearing trick - why take chance ?
let it go, there money to be made, not staying focus will cost you big time, enjoy your trading, a forum well it's just a forum, you can be anybody on a forum including superman
  • #249,447
  • Aug 27, 2010 12:07pm Aug 27, 2010 12:07pm
Quoting Magix
time for a nap.
  • #249,448
  • Aug 27, 2010 12:08pm Aug 27, 2010 12:08pm
Quoting Fudomyo
Thanks for sharing
Anyway, a good book to start with is Martin Pring "On Price Patterns" It will give you some solid tools to add to your trading.

best of luck and have a great weekend.
Thanks I will have a look at this book.

You too have a good weekend
  • #249,449
  • Aug 27, 2010 12:10pm Aug 27, 2010 12:10pm
Quoting cloggie
Not wanting to control the thread at all, but in 20 years I have picked up a thing or two and if someone comes in here claiming a technical setup that has zero bearing on a move in the market, I call him out and will continue to do so.

I am not here to win a popularity contest, quite the contrary.

Just pointing out the obvious fakers, so others can take their analysis with a large dose of salt.
Look Cloggie, you are obviously a good trader and are trying to help others. I respect you for that.

But please, please, please back off with the nastiness and intolerance!!!!!!!!!!
  • #249,450
  • Aug 27, 2010 12:12pm Aug 27, 2010 12:12pm
Quoting david777
Look Cloggie, you are obviously a good trader and are trying to help others. I respect you for that.

But please, please, please back off with the nastiness and intolerance!!!!!!!!!!

What would you rather have, someone to call out the fakers and ridiculous technical analysis posted by some here or 200 noobs viewing this and actually believing the fakers and following them?

Here we had someone taking credit for a reversal that he had "predicted" when it was in effect the result of the way the market has worked for over 100 years. It was so blatantly a fake, that I had to call him on it.

At least now, his next "technical analysis" will be taken with a large dose of salt by most who witnessed his failure today.

I can guarantee that some here have now picked up how rebalancing works and what the effect of a consistent drop in the DOW over a month on dollar and Sterling values is and how to trade it properly.
  • #249,451
  • Edited 12:19pm Aug 27, 2010 12:15pm | Edited 12:19pm
Quoting Magix
I was going to say the same thing dig....

Not in play....

Hrmmmmmmmmm....

.............. while sitting in here pissing and moaning about what and how others trade is pointless. Who gives a shit?

Sure see a lot of these guys posting bullshit...
Correctly stated ! Trading is just that - no one is right all the time. So, if everyone sticks to what you have rightly stated, and keeps himself out of other's hair, this thread will again become healthy. At present the teachers are making it toxic to sanity !

But I wouldn't agee that posting trades without Charts are waste of space. The Newbies can just copy it and make money - everyone is here to MAKE MONEY AND NOT really for learning. Those can trade but do not use convenient Platforms should not be singled out.
  • #249,452
  • Aug 27, 2010 12:19pm Aug 27, 2010 12:19pm
Quoting vilas
Correctly stated Magix ! Trading is just that - no one is right all the time. So, if everyone sticks to what you have rightly stated, and keeps himself out of other's hair, this thread will again become healthy. At present the teachers are making it toxic to sanity !
And exactly what is it that you are adding?

Perhaps leading by example might be a place to start.

Just a thought.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #249,453
  • Aug 27, 2010 12:21pm Aug 27, 2010 12:21pm
Quoting cloggie
What would you rather have, someone to call out the fakers and riciculous technical analysis posted by some here or 200 noobs viewing this and actually believing the fakers and following them?

Here we had someone taking credit for a reversal that he had "predicted" when it was in effect the result of the way the market has worked for over 100 years. It was so blatantly a fake, that I had to call him on it.

At least now, his next "technical analysis" will be taken with a large dose of salt by most who witnessed his failure today.
What is this? SHoot out at the OK Coral!!!!!

Get a f***ing life mate!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  • #249,454
  • Aug 27, 2010 12:22pm Aug 27, 2010 12:22pm
On a different note, here is an article in this week's Moneyweek publication that I picked up of my doormat when I got back home. Read into it what you will -


Only a few weeks ago the pound was still on the ropes. According to US derivatives regulator the CFTC, bets were nine to one against the pound. Markets speculated that with a ballooning budget deficit Britain could even lose its top triple-A credit rating.
Then, in the wake of George Osborne’s maiden budget, sterling rallied against the dollar from a low of 1.43 to a peak of 1.59 since June. It’s also enjoyed a mini-bounce against the beleaguered euro. Enjoy it while it lasts.

As Ian Stannard of BNP Paribas puts it, “Sterling is extremely vulnerable and is likely to start moving lower. The market has been far too optimistic on its forecasts for the UK generally. These forecasts will have to be downgraded. We’re probably at the peak of activity in the UK economy.” And he is hardly the only pound bear. Of the 33 economists forecasts surveyed by Bloomberg, 29 of them anticipate the pound will fall in the next year. Stannard’s team believe it could fall as low as 1.32 against the dollar, a 14% decline.

The headwinds are building fast. Consumer finances have taken a turn for the worse, according to Markit and YouGov. The poll, issued to 2,000 households, shows consumer optimism at 37.9, with any level below 50 representing deterioration. Business confidence isn’t any better. The index of business confidence fell four points in the third quarter to 21.5, Grant Thornton and the Institute of Chartered Accountancy in England and Wales said, citing a survey of 1,000 members.

The OECD, a rich country think tank, said its lead indicator for Britain has fallen in the past three months. The country’s output gap has not been closed and spare capacity remains. And a survey from the Royal Institution of Chartered Surveyors survey shows 8% more estate agents are reporting a fall in house prices than the combined total of those reporting stable or rising prices. It’s the first decline for the first time in a year. Mortgage approvals were down again in July.

Little wonder many suspect further quantitative easing is on the way. This week Bank of England monetary policy committee member Martin Weale has said that Britain faces a “real risk” of a second recession. That prospect and further central bank measures to counter another slump will see off sterling’s recent rally.
  • #249,455
  • Aug 27, 2010 12:23pm Aug 27, 2010 12:23pm
Quoting david777
What is this? SHoot out at the OK Coral!!!!!

!

Nope, just calling a spade a spade.
  • #249,456
  • Aug 27, 2010 12:23pm Aug 27, 2010 12:23pm
Quoting fxoxford
let it go, there money to be made, not staying focus will cost you big time, enjoy your trading, a forum well it's just a forum, you can be anybody on a forum including superman
Right you are my friend..........Off to Dreamland - I am GMT + 7.

Be Well, Take care of your self. See you next week !
  • #249,457
  • Aug 27, 2010 12:27pm Aug 27, 2010 12:27pm
Quoting david777
What is this? SHoot out at the OK Coral!!!!!

Get a f***ing life mate!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I don't think you're his mate now!
  • #249,458
  • Aug 27, 2010 12:29pm Aug 27, 2010 12:29pm
hi guys

the massive H&S on the H4 is still valid. I'm still inclined on selling the retrace till this formation completes or price closes back above the neckline thus invalidating the pattern.

Good luck.
Attached Image (click to enlarge)
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Thank You
  • #249,459
  • Aug 27, 2010 12:31pm Aug 27, 2010 12:31pm
Hi BBakker - managed to get out of work early then? Are you still holding onto your short from yesterday?

Also - will you be trading on Monday? Only started trading in June so never traded on a bank holiday before...imagine the volume is lower than normal!

Quoting bbakker
On a different note, here is an article in this week's Moneyweek publication that I picked up of my doormat when I got back home. Read into it what you will -

Only a few weeks ago the pound was still on the ropes. According to US derivatives regulator the CFTC, bets were nine to one against the pound. Markets speculated that with a ballooning budget deficit Britain could even lose its top triple-A credit rating. Then, in the wake of George Osborne’s maiden budget, sterling rallied against the dollar from a low of 1.43 to a peak of 1.59 since June....
  • #249,460
  • Aug 27, 2010 12:32pm Aug 27, 2010 12:32pm
Currently there's also a possibility of a minute H&S on the m5. Break of the neckline will likely send cable back to lower levels tested earlier.
Just a heads up.

Okay later fellas. Enjoy your weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: g5.gif Size: 169 KB
Thank You
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