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Cable Update (GBPUSD)

  • #253,201
  • Sep 15, 2010 4:03am Sep 15, 2010 4:03am
Quoting USD-Bear
To be expected with anti-QE, although not bad for currency perse....
I lack any knowledge of 'quantitative easing' is it? I can not anticipate news yet in general. Cable holding well though... reconsidering a long position around the 500 mark
  • #253,202
  • Sep 15, 2010 4:03am Sep 15, 2010 4:03am
Quoting Precap2
My Holy Grail is saying if we close below 5500, we head for 5442 area. Are you there?
It now all depends on the spread of your broker
Don't be a hero. Don't have an ego. Always question yourself
  • #253,203
  • Sep 15, 2010 4:05am Sep 15, 2010 4:05am
Quoting Derwood
Long term, if dollar index breaks further south below 80 for h&s, then i'm very bullish on gbp. Or pratically anything against the dollar.
the top section of yur head n shoulder is viable but the lower one ..is not..second shoulder is higher than first..therfore not..and also location is wrong..

morning folks..this PA is definately nuts
Attached Image (click to enlarge)
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  • #253,204
  • Sep 15, 2010 4:05am Sep 15, 2010 4:05am
Quoting Delite
Sorry guys - another question for you.

Re support and resistance. I know you use the higher t/f to plot the most signigicant S & R levels (down to H1?) But there will be intraday levels which appear on lower t/fs. My question is how long do these lower levels remain valid?

Does that make sense?
it should last all day and its valid in any TF's

try this indi set p to 60 and u will love it
Attached Image (click to enlarge)
Click to Enlarge Name: 5m cable.gif Size: 15 KB
Attached File(s)
File Type: mq4 ^MFP MM Lines.mq4   10 KB | 279 downloads
  • #253,205
  • Sep 15, 2010 4:06am Sep 15, 2010 4:06am
Quoting Precap2
My Holy Grail is saying if we close below 5500, we head for 5442 area. Are you there?
i am just a newbie.... is there holy grail in life ?
not euphoria follower
  • #253,206
  • Sep 15, 2010 4:06am Sep 15, 2010 4:06am
Quoting kill56
it should last all day and its valid in any TF's

try this indi set p to 60 and u will love it
sup brother!!! u well
  • #253,207
  • Sep 15, 2010 4:09am Sep 15, 2010 4:09am
Quoting Alexbabwa
I lack any knowledge of 'quantitative easing' is it? I can not anticipate news yet in general. Cable holding well though... reconsidering a long position around the 500 mark
Think of the question as is printing money to revive economy good or bad for currency.
If we all do (QE) no relevance
If most do but 1 doesn't => very bullish for the 1 that doesn't (profiting from QE without having the burdens of debt/inflation)
Don't be a hero. Don't have an ego. Always question yourself
  • #253,208
  • Sep 15, 2010 4:10am Sep 15, 2010 4:10am
Quoting Sutts
Hi Gleneagles,

Would you mind telling me the reasons for that second dustbin trade please? (the short). Was it the dark cloud cover on the M15/M30, the fact that we were in the Frankie reversal zone or something else?

Of course I went long here LOL. Just trying to learn.

Thanks
Sutts,

The momentum was pointing down when I took the trade, it is as simple as that
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Sep. 15 11.02.jpg Size: 51 KB
" Never let the past hold the future to ransom "
  • #253,209
  • Sep 15, 2010 4:11am Sep 15, 2010 4:11am
Quoting nAVIN2007
the top section of yur head n shoulder is viable but the lower one ..is not..second shoulder is higher than first..therfore not..and also location is wrong..

morning folks..this PA is definately nuts

hey bro whats up hope u are in green and in good helth long time no see , its carazy with yen been foooked buy japan i think we will stay in a nice rang but mostly east is the way of salvation
  • #253,210
  • Sep 15, 2010 4:16am Sep 15, 2010 4:16am
that makes sense bear, thank you. Though i could gauge the importance and relevance of QE to the claiment count. I would have thought if UK prospect of QE was cancelled out with US prospect of QE, the poor UK data would still take its toll.
  • #253,211
  • Sep 15, 2010 4:16am Sep 15, 2010 4:16am
Quoting Derwood
Long term, if dollar index breaks further south below 80 for h&s, then i'm very bullish on gbp. Or pratically anything against the dollar.
Here are current USDX for M15 and H1. USDX is gaining and on M15 and H1 has broken a V retracement. Let's see how it continues
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,212
  • Sep 15, 2010 4:17am Sep 15, 2010 4:17am
Quoting Precap2
My Holy Grail is saying if we close below 5500, we head for 5442 area. Are you there?
This dip seems to be finding buyers, also seems to be finding support not sure about shorting yet.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: chart11.gif Size: 23 KB
  • #253,213
  • Sep 15, 2010 4:17am Sep 15, 2010 4:17am
Having fun, scalping the re-trace, well I think it's fun....... only using $0.10 per pip as I'm still not very good at it
  • #253,214
  • Sep 15, 2010 4:20am Sep 15, 2010 4:20am
Quoting Derwood
Long term, if dollar index breaks further south below 80 for h&s, then i'm very bullish on gbp. Or pratically anything against the dollar.
Here are current USDX for M15 and H1. USDX is gaining and on M15 and H1 has broken a V retracement. Let's see how it continues
Note: while rushing to place an order I forgot to attach charts
Attached Images
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,215
  • Sep 15, 2010 4:21am Sep 15, 2010 4:21am
Quoting kill56
hey bro whats up hope u are in green and in good helth long time no see , its carazy with yen been foooked buy japan i think we will stay in a nice rang but mostly east is the way of salvation
the long term trading is going well..i just need a descent win here then i will use these winning to risk to bigger money..so far so good bro

but looking at the market on smaller time frame is a bit much..talk about swing both ways..absolute madness
  • #253,216
  • Sep 15, 2010 4:23am Sep 15, 2010 4:23am
Quoting USD-Bear
Think of the question as is printing money to revive economy good or bad for currency.
If we all do (QE) no relevance
If most do but 1 doesn't => very bullish for the 1 that doesn't (profiting from QE without having the burdens of debt/inflation)
There is no additional debt burden from a central bank embarking on QE, as the funds used to purchase the bonds are electronically created from thin air. Therefore, QE has a positive effect on the existing debt burden of that particular country, as the cost of servicing those liabilities decreases, as the yields fall on, firstly, government paper, which has a similar knock-on effect on the yields of other "riskier" paper denominated in that currency.

QE = Increasing the supply, and reducing the cost, of money
  • #253,217
  • Sep 15, 2010 4:23am Sep 15, 2010 4:23am
Quoting Gleneagles
Sutts,

The momentum was pointing down when I took the trade, it is as simple as that
Thanks Gleneagles. I can see how that big bearish engulfing bar set the downward momentum off but I thought that momentum was waning as the bars got smaller and we ended on that pin bar just above support and the 38.2 fib. You had the confidence to short off the close of that bar without waiting to see if the pin/support held and that got me thinking.

You're obviously a very experienced trader and I was hoping to learn from this. Any tips on the timing of this entry would be much appreciated.

Cheers
  • #253,218
  • Sep 15, 2010 4:24am Sep 15, 2010 4:24am


Quoting nAVIN2007
the long term trading is going well..i just need a descent win here then i will use these winning to risk to bigger money..so far so good bro

but looking at the market on smaller time frame is a bit much..talk about swing both ways..absolute madness
not euphoria follower
  • #253,219
  • Sep 15, 2010 4:27am Sep 15, 2010 4:27am
Quoting Alexbabwa
that makes sense bear, thank you. Though i could gauge the importance and relevance of QE to the claiment count. I would have thought if UK prospect of QE was cancelled out with US prospect of QE, the poor UK data would still take its toll.
I think its all relative and of course long term influence.
No QE means short term negative economic influence (what we see right now) but long term prosperity.
No matter what state world economy is in, I rather prefer a currency with less debts....
Don't be a hero. Don't have an ego. Always question yourself
  • #253,220
  • Sep 15, 2010 4:32am Sep 15, 2010 4:32am
Quoting gammase1
There is no additional debt burden from a central bank embarking on QE, as the funds used to purchase the bonds are electronically created from thin air. Therefore, QE has a positive effect on the existing debt burden of that particular country, as the cost of servicing those liabilities decreases, as the yields fall on, firstly, government paper, which has a similar knock-on effect on the yields of other "riskier" paper denominated in that currency.

QE = Increasing the supply, and reducing the cost, of money
You are right, but what does creating money from thin air do to inflation thats the main burden imo...
Don't be a hero. Don't have an ego. Always question yourself
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