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Cable Update (GBPUSD)

  • #255,441
  • Sep 23, 2010 9:53am Sep 23, 2010 9:53am
Quoting chazzle
I agree,up to a point,(institutions have better facilities and capital)but traders are human-institutional or otherwise.If,as retail traders we continually see ourselves as being at a disadvantage to institutional traders,this will be no good for our psychological edge.Retail traders should stop seeing themselves as somehow inferior.
I think you see it the wrong way mate. The thing is, we have to be as realistic as possible. Now, we know that they have better facilities than us, what should we do then? Start to subscribe every news facilities on the planet? That would be insane. One of the way is to study and master the PA because there's a lot of information can be extract from the PA and don't only just rely on the indicators. I agree we need indicators to trade, as the name said, it is merely a tool for us to gauge the market and not supposedly to be used as our primary decision maker.

We should not be inferior by what they have it's really up to you to outsmart them by whatever tools you possessed; wars cannot be won by sophisticated and modern tools, remember Vietnam? Cheers bro.
  • #255,442
  • Sep 23, 2010 9:54am Sep 23, 2010 9:54am
Well-I'm climbing out of my short here-leaving me with 6 pips for the day-could be (and has been in the past) a lot worse. Good Luck All!
  • #255,443
  • Sep 23, 2010 9:54am Sep 23, 2010 9:54am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting samirb
Good day everyone,

everything is on the chart

old charts
http://www.forexfactory.com/showpost...stcount=253882

http://www.forexfactory.com/showpost...stcount=254636

current chart
I am expecting there is chances it will touch yellow thin Ltl before it fly and break 15730

Good luck with your tradeshttp://cdn.forexfactory.com/images/s...m/thumbsup.gif...
update.. as i said before it will touch yellow ltl before we break 15730.

Good luck
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  • #255,444
  • Sep 23, 2010 9:57am Sep 23, 2010 9:57am
Quoting A-speculator
I think you see it the wrong way mate. The thing is, we have to be as realistic as possible. Now, we know that they have better facilities than us, what should we do then? Start to subscribe every news facilities on the planet? That would be insane....
I agree with everything you said,apart from the first sentence,obviously.lol
  • #255,445
  • Sep 23, 2010 10:03am Sep 23, 2010 10:03am
Quoting Geppy
Hey guys... I had shorts in both GBP/JPY and GBP/USD last night. I closed both for profit and sat for awhile on the sidelines. I watched and felt like things were acting odd. As much as I wanted/expected both pairs to correct further for better long entries, it just didn't feel like they were going to. I finally decided to put order in to go long GBP/JPY at 132.15 and GBP/USD at 1.5630... I was filled for both overnight and we're looking good.

I'm targetting 1.5900 initially in GBP/USD and I'm not sure on my GBP/JPY target yet, but it could...
With you on cable and GJ for the longs here Gep...

An idea of what I am looking at for the dragon....

Sell below bottom line, buy up to top line....
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #255,446
  • Sep 23, 2010 10:04am Sep 23, 2010 10:04am
Quoting chazzle
Well-I'm climbing out of my short here-leaving me with 6 pips for the day-could be (and has been in the past) a lot worse. Good Luck All!
Good luck to you to. I am sticking with my shorts, albeit I do not have much confidence in them but despite all that has been said I do not see the right conditions for pound to improve over dollar. So .......
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  • #255,447
  • Sep 23, 2010 10:06am Sep 23, 2010 10:06am
Quoting Uphios
Good luck to you to. I am sticking with my shorts, albeit I do not have much confidence in them but despite all that has been said I do not see the right conditions for pound to improve over dollar. So .......
well done for sticking with it!
  • #255,448
  • Sep 23, 2010 10:08am Sep 23, 2010 10:08am
My 4H need close higher than @1.5730 IF not we will see down move again (My own view and i could b wrong)
I wait and watch
  • #255,449
  • Sep 23, 2010 10:11am Sep 23, 2010 10:11am
Quoting Magix
With you on cable and GJ for the longs here Gep...

An idea of what I am looking at for the dragon....

Sell below bottom line, buy up to top line....
Yep, things are looking good... I think the "dragon" has yet to be awakened

Quoting Uphios
Good luck to you to. I am sticking with my shorts, albeit I do not have much confidence in them but despite all that has been said I do not see the right conditions for pound to improve over dollar. So .......
I think you should really take a step back and think about that statement. The Fed signaled potential for QEII yesterday... what's that mean exactly? Well, they never come flat out and say "hey, we're going to be having another run at Quantitative Easing pretty soon!". No, that's not how they operate. A seasoned trader knows this is an "incubation" period where the Fed warns that QEII is coming. Those same seasoned traders are preparing and positioning themselves for when the public finally gets it and the Fed starts going about it's work. And we all know what happens then... the USD will take a beating.

I'm getting my positions together now for what I feel will be a nice rally in GBP/USD and other pairs. Time to make some easy money!
check out my blog: forexmademillionaire dot com
  • #255,450
  • Sep 23, 2010 10:14am Sep 23, 2010 10:14am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Quoting egkid
My 4H need close higher than @1.5730 IF not we will see down move again (My own view and i could b wrong)
I wait and watch
Hello bro
how you doing..

well i m feeling like it will touch 1 hour 200 ema if h4 doesnot close above 15730... everyone is buying.. they have to take out weak long i guess..

Good luck

Regards
  • #255,451
  • Sep 23, 2010 10:16am Sep 23, 2010 10:16am
Quoting Geppy
Yep, things are looking good... I think the "dragon" has yet to be awakened



I think you should really take a step back and think about that statement....
Yup, got that but you did take in the bit the following day where BoE said pretty much the same thing. Now as I am looking at cable what does that mean?
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  • #255,452
  • Sep 23, 2010 10:20am Sep 23, 2010 10:20am
Quoting Uphios
Yup, got that but you did take in the bit the following day where BoE said pretty much the same thing. Now as I am looking at cable what does that mean?
Not sure what exactly what you're trying to say here... can you clarify?
check out my blog: forexmademillionaire dot com
  • #255,453
  • Edited 11:06am Sep 23, 2010 10:20am | Edited 11:06am
Quoting A-speculator
I think you see it the wrong way mate. The thing is, we have to be as realistic as possible. Now, we know that they have better facilities than us, what should we do then? Start to subscribe every news facilities on the planet? That would be insane....
I disagree respectfully..i think it is important to realise we are the target by institutional traders..a bit like a jaws and marine fish..we are hunted..take the last 4hr bearish bar..so many would have shorted only to place stop above the high..and we broke the high only to remove the short stops..there was no way to any1 could have known the high would break at that point..but u could have guessed at the close of 4hr there be more short that long..hence the break of the high

in order to succeed in trading u have to be better than the institutional traders..its that simple.This leads to traders having to have mm..without mm, death gonna happen for sure, its just a question of time..this is what so many dont get when there a newbie..the fact that they are hunted!!
  • #255,454
  • Sep 23, 2010 10:20am Sep 23, 2010 10:20am
Anyone short?15710 could be new support-watch out
  • #255,455
  • Sep 23, 2010 10:21am Sep 23, 2010 10:21am
Quoting samirb
Hello bro
how you doing..

well i m feeling like it will touch 1 hour 200 ema if h4 doesnot close above 15730... everyone is buying.. they have to take out weak long i guess..

Good luck

Regards
Yep I'm interested to c it
If u can Open 1H and watch the PA@ 2 point i told u
  • #255,456
  • Sep 23, 2010 10:22am Sep 23, 2010 10:22am
Quoting Geppy
Not sure what exactly what you're trying to say here... can you clarify?
Following day after Fed announcement BoE give their statement. The focus is on how the voting went for a rise in interest rates but in the same statement they talked about adding 50Bn to their QE program. Question becomes who will be first, and if both FED and BOE do it together what is the impact on cable.
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  • #255,457
  • Sep 23, 2010 10:22am Sep 23, 2010 10:22am
Quoting Uphios
Yup, got that but you did take in the bit the following day where BoE said pretty much the same thing. Now as I am looking at cable what does that mean?

sorry to interupt but this is exsactly the point I am making, we don't know, we are not clever enough to work it out re a relatively short term position...so just go with what we know...price action and supply/demand...the reasons behind it are known to others (or not!) we don't have to know.

G/L
ex member
  • #255,458
  • Sep 23, 2010 10:29am Sep 23, 2010 10:29am
Quoting Uphios
Following day after Fed announcement BoE give their statement. The focus is on how the voting went for a rise in interest rates but in the same statement they talked about adding 50Bn to their QE program. Question becomes who will be first, and if both FED and BOE do it together what is the impact on cable.
Ok, I see what you're saying... you're concerned that BoJ and the US will do QE simultaneously? In my opinion, the situations are a bit different. The BoJ is concerned about it's currency's strength where the US is concerned about the strength of it's economy. I know these are similar and very much related but they're still very much different.

For example, the BoJ's QE or more appropriately "intervention" will be very much noticeable as we saw early last week with huge spikes in different pairs. The US, however, will take a more prolonged approach which will result in the USD getting beat up in the longer-term (more prolonged rallies). So I see these as being treated as different, separate situations.

What's this mean for Cable? Well, honestly the BoJ's QE or intervention or whatever you want to call it really doesn't affect GBP/USD but would have an effect on GBP/JPY since it's a Yen based pair. With this in mind, we can properly assume that the US QE will effect GBP/USD and it will result in a prolonged rally.

This is just my opinion of course and I am the first to admit I'm no fundi guru.
check out my blog: forexmademillionaire dot com
  • #255,459
  • Sep 23, 2010 10:30am Sep 23, 2010 10:30am
take 1/2 positon at 1,5735, already set to BE
final target at 5810

Quoting scurt
There are two 4H candles(9.22. 12:00, and 9.23. 8:00) which are 100% bullish, the last one is even bigger, already create higher high...and we are above DP... keeping my longs with a stop at 1.56...
  • #255,460
  • Sep 23, 2010 10:31am Sep 23, 2010 10:31am
Quoting Geppy
Ok, I see what you're saying... you're concerned that BoJ and the US will do QE simultaneously?...
No..... BoE. Bank of England.
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