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Cable Update (GBPUSD)

  • #253,001
  • Sep 14, 2010 11:57am Sep 14, 2010 11:57am
Quoting cloggie
She kind of did:




Bit of a blond moment, but we all knew what she meant. Most of us "older" guys know how to translate womenspeak, we learned the hard way.


ha ha ... yep a blonde moment :-)
  • #253,002
  • Sep 14, 2010 11:58am Sep 14, 2010 11:58am
+156

One-way traffic at present
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" Never let the past hold the future to ransom "
  • #253,003
  • Sep 14, 2010 11:59am Sep 14, 2010 11:59am
Quoting Alexbabwa
It was silly of me to go short based on the descending channel alone i guess. I will learn as much as i can here. Hopefully il be in your position watching some other noob before too long.
Well sometimes the mkt can just catch you off guard. I usually have a long entry in mind and a short entry in mind. That keeps me from be blinded by a biased mindset which can definitely affect your trading.
  • #253,004
  • Sep 14, 2010 12:01pm Sep 14, 2010 12:01pm
Quoting cloggie
She kind of did:




Bit of a blond moment, but we all knew what she meant. Most of us "older" guys know how to translate womenspeak, we learned the hard way.
LOL....I wonder if you guys know what we mean when we say "whatever" . That was funny tho cloggie.
  • #253,005
  • Sep 14, 2010 12:02pm Sep 14, 2010 12:02pm
Quoting Alexbabwa
It was silly of me to go short based on the descending channel alone i guess. I will learn as much as i can here. Hopefully il be in your position watching some other noob before too long.

On days like this when you see Gold, Silver and both GBP and CHF going up, you just know we are in for a good one. Everybody was dumping dollars, not helped by the GS report re QE either.
  • #253,006
  • Sep 14, 2010 12:02pm Sep 14, 2010 12:02pm
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day,

Second chart closer view of the wedge.
Good day

old charts

http://www.forexfactory.com/showpost...stcount=252099

current chart
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  • #253,007
  • Sep 14, 2010 12:02pm Sep 14, 2010 12:02pm
Quoting PipChick
LOL....I wonder if you guys know what we mean when we say "whatever" . That was funny tho cloggie.

Cali eh?
  • #253,008
  • Sep 14, 2010 12:03pm Sep 14, 2010 12:03pm
Quoting cloggie
Cali eh?
Cali?
  • #253,009
  • Sep 14, 2010 12:03pm Sep 14, 2010 12:03pm
Quoting PipChick
Cali?
-fornia
  • #253,010
  • Sep 14, 2010 12:04pm Sep 14, 2010 12:04pm
Quoting cloggie
-fornia
Thats what I thought you meant. Ohio
  • #253,011
  • Sep 14, 2010 12:12pm Sep 14, 2010 12:12pm
Cloggie

What is driving the DOW

Gold at new highs GBP, JPN and EUR climbing
Dollar index 15 year low. Dow is up 20 30 points Makes no sense
  • #253,012
  • Sep 14, 2010 12:15pm Sep 14, 2010 12:15pm
Yes, a very nice compression - release.

Dr. D.
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  • #253,013
  • Sep 14, 2010 12:15pm Sep 14, 2010 12:15pm
Quoting dryclean
Cloggie

What is driving the DOW

Gold at new highs GBP, JPN and EUR climbing
Dollar index 15 year low. Dow is up 20 30 points Makes no sense

You don't always need an equity rally for traders to dump dollars, today was a combination of rumours of further QE, SNB rate rise, Kan winning the leadership challenge and a flight to safety from the dollar. When the dollar flight starts, equities are not the option so that's why we see Gold, Silver, Palladium all up. Once the dollar gets shaky, nowhere else to go.
  • #253,014
  • Sep 14, 2010 12:22pm Sep 14, 2010 12:22pm
looks like range could be over
  • #253,015
  • Sep 14, 2010 12:24pm Sep 14, 2010 12:24pm
Cable update:
So a nice short possibility with a stop just above todays hi. Small risk here. I wont be taking it as I have to leave in a few min but thought I would point out a decent possibility.
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  • #253,016
  • Sep 14, 2010 12:33pm Sep 14, 2010 12:33pm
Quoting trending
Just building a bear flag for the drop.
what do you consider as the flagpole for yr bearflag?
  • #253,017
  • Sep 14, 2010 12:42pm Sep 14, 2010 12:42pm
Nice move today hope plenty of green pips for all....

A lot of volume on the last couple of hour bars and was going to chance a short for a retest of previous resistance that may well turn into support, 100 pips away but this rally seems to be getting tired.
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  • #253,018
  • Sep 14, 2010 12:48pm Sep 14, 2010 12:48pm
Well it looks about right to start selling the retracement.

Sell @ 1.55700
Our beliefs are based on logic and the pursuit of clearity.
  • #253,019
  • Sep 14, 2010 12:51pm Sep 14, 2010 12:51pm
Quoting bimmerbob
what do you consider as the flagpole for yr bearflag?
I always thought a picture speaks a thousand words, but not mine.

The previous down channel, which can be seen as a bull flag for the previous channel is the virtual flag pole.

I don't base my strategy on those channels btw, I use them to remind myself that prices can go up. USD bear was not entirely wrong when he said I see what I want to see. Notice there are provision for downward moves as well. The channel charts are more of a psychological tool for me, so I don't anticipate moves in either direction.
  • #253,020
  • Sep 14, 2010 12:54pm Sep 14, 2010 12:54pm
don't try to predict price for the long term, or even days out.

That's a fools game.

Trade the trend till it ends, then you will find you found a new friend.
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