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Cable Update (GBPUSD)

  • #262,481
  • Oct 31, 2010 2:22am Oct 31, 2010 2:22am
Quoting bbmac
Hope everyone had a good week !

http://www.easy-upload.net/fichiers/...1030172118.gif
I don't get that joke. Why does he give the pen back?
  • #262,482
  • Oct 31, 2010 2:54am Oct 31, 2010 2:54am
Quoting fxvoilaaa
I don't get that joke. Why does he give the pen back?
look at his head .....
  • #262,483
  • Oct 31, 2010 3:02am Oct 31, 2010 3:02am
Quoting fxvoilaaa
I don't get that joke. Why does he give the pen back?
lol
  • #262,484
  • Oct 31, 2010 3:04am Oct 31, 2010 3:04am
Quoting Ifty
Just hold a minute here chum, you have been a member here since May 2010 and think that you have already worked out Azim after reading a few posts. We who have known him much longer and have had the pleasure to discuss a variety of rollercoaster situations with him and I have to say he has been nothing but generous, a 110% contributor and a valued asset for everyone on this forum. He does not need me or anyone else for that matter to defend him but if for any reason an ASSET like him gets attacked then it's an attack on all of us here on this forum....
completely agree Ifty, we have allready lost one great senior, there are still some great ones left in this thread and Wormboy is certainly one off them..., so we have to take care off our generous contributors.
  • #262,485
  • Oct 31, 2010 3:06am Oct 31, 2010 3:06am
Quoting fxvoilaaa
I don't get that joke. Why does he give the pen back?
He has marked off the person with a green pen, not their stupid trades on their sheet... lol
  • #262,486
  • Oct 31, 2010 3:11am Oct 31, 2010 3:11am
this guy is still without his stops and talking about price NEED to go down.
done this myself couple of years ago.I new the dow only goes one way in the end. left 3 dow longs on at about 10800. came back from work with market crash. ib stopped me out with about £3k lose. good education.
  • #262,487
  • Oct 31, 2010 3:13am Oct 31, 2010 3:13am
Quoting Ifty
Just hold a minute here chum, you have been a member here since May 2010 and think that you have already worked out Azim after reading a few posts. We who have known him much longer and have had the pleasure to discuss a variety of rollercoaster situations with him and I have to say he has been nothing but generous, a 110% contributor and a valued asset for everyone on this forum. He does not need me or anyone else for that matter to defend him but if for any reason an ASSET like him gets attacked then it's an attack on all of us here on this forum....
Don't beat the poor guy up. He has already retracted his earlier statements. Lucky Duke is a fine fellow... most Jocks are! We all make mistakes and his was through a simple misunderstanding.
  • #262,488
  • Oct 31, 2010 3:19am Oct 31, 2010 3:19am
See you all at the open in 10 hours time. Time to spend some quality time with the wife and kids. They will be back from horse riding soon and then we will go swimming and cycling.

P.S. The golf was shite and it was painful. When we lost the match on the 14th, I stopped playing and just followed the other 3 round to the 19th to anesthetise the pain with a few jars of the Black stuff... lol
  • #262,489
  • Oct 31, 2010 3:21am Oct 31, 2010 3:21am
Quoting bbakker
He has marked off the person with a green pen, not their stupid trades on their sheet... lol
Ahh, NOW I get it!

LOOOOOOOOOL!!!!!

ROTFL!!! LMFAO!!!!

  • #262,490
  • Oct 31, 2010 3:22am Oct 31, 2010 3:22am
Quoting winsome
lol
yes, lol.
  • #262,491
  • Oct 31, 2010 3:23am Oct 31, 2010 3:23am
Quoting bbakker
See you all at the open in 10 hours time. Time to spend some quality time with the wife and kids. They will be back from horse riding soon and then we will go swimming and cycling.

P.S. The golf was shite and it was painful. When we lost the match on the 14th, I stopped playing and just followed the other 3 round to the 19th to anesthetise the pain with a few jars of the Black stuff... lol
Enjoy yourself. Always good to do that kind of stuff with family.
  • #262,492
  • Oct 31, 2010 5:12am Oct 31, 2010 5:12am
Quoting Erinieks
Perfect post... Perfect.
I watch this wideo. And... if we look at chart, there was a rally, then can be novice gap - upside and then go down. profesional gap, pair needs go down.
Mmmm... I am afraid that you have not quite understood this webinar and when you look at in isolation, I can understand why people don't understand.

Your bias is down for obvious reasons and you are now just looking at information to support your one and only believe that this pair MUST go down. You will find anything and everything that supports your belief and this is a fatal mistake. Maybe you should read my brief post on objectivity -

http://www.forexfactory.com/showthre...ty#post4066748

You have a long way to go and I suggest you get some proper education on Forex trading. You won't find it on Forex Factory or any other forum that is for sure.

Don't get me wrong, there are some excellent traders on here who share their knowledge and methods, but it is akin to finding a needle in a haystack and also most will not reveal everything, because revealing that, reveals their edge and you need to have an edge in trading.

So, you can get some excellent tid bits of information on forums that will help you develop your trading, but until you understand the basics of trading, this information is of no use.

Wife and kids just got back... see you all later.
  • #262,493
  • Oct 31, 2010 5:57am Oct 31, 2010 5:57am
levels to watch
Attached Image (click to enlarge)
Click to Enlarge Name: gu0.gif Size: 18 KB
  • #262,494
  • Oct 31, 2010 7:24am Oct 31, 2010 7:24am
U mean this level ( look at the yellow one ) : http://www.forexfactory.com/attachme...0&d=1288425873

November Plan : http://www.forexfactory.com/showpost...&postcount=857

Happy Trading For Few Hours Open .....

Rgds,Iqyu

September - December Plan : http://www.forexfactory.com/showpost...&postcount=701


Quoting nawafasad1
levels to watch
not euphoria follower
  • #262,495
  • Oct 31, 2010 8:45am Oct 31, 2010 8:45am
Quoting Erinieks
You right, you are my idol now, because you have a words very true.
teach me some strategy?
Read this thread, Help for Newbies. What can you learn on Forex Factory? http://www.forexfactory.com/showthread.php?t=39514

Start with the first post and work your way through it slowly to ensure you understand all the concepts layed out.

The first post starts with... I'm creating this thread to give Forex newbies an insight into how they can either start making their accounts grow steadily, or, hopefully, recover from earlier disasters in their first forays into live trading.

The cycling has been abandoned... it is raining cats and dogs!
  • #262,496
  • Oct 31, 2010 9:44am Oct 31, 2010 9:44am
Quoting bbakker
IF we gap up into the supply zone, I will be shorting with 1st target at gap close, 2nd target at ~1.59 and a final target of ~1.58. My final target is not impossible, but it will need to eat through some serious demand zones to get there!
Here is my h4 chart with my reasoning as to why I will go short IF we gap up.

Attached Image (click to enlarge)
Click to Enlarge Name: 101031_gu_h4.PNG Size: 48 KB


Price is currently at the top of the Bollinger Bands and if we gap up, it will have broken through the Bollinger Bands. CCI is showing overbought and shows bearish divergence. If we gap up into the supply zone starting at 1.6058... I will sell. Anything less or a gap down and I will look at other pairs for trading on the Sunday open. Success with your trading!
  • #262,497
  • Oct 31, 2010 10:25am Oct 31, 2010 10:25am
This was forexpro.com's reading of cable as of friday close
Attached Image
ex member
  • #262,498
  • Oct 31, 2010 11:53am Oct 31, 2010 11:53am
Quoting bbakker
Here is my h4 chart with my reasoning as to why I will go short IF we gap up.

Attachment

Price is currently at the top of the Bollinger Bands and if we gap up, it will have broken through the Bollinger Bands. CCI is showing overbought and shows bearish divergence. If we gap up into the supply zone starting at 1.6058... I will sell. Anything less or a gap down and I will look at other pairs for trading on the Sunday open. Success with your trading!
My good friend be careful with the shorts . All tho its a weekly chart we have spent the better part of this year building this set-up and we have about a month before the big dogs will be gone on their holiday vacations and they will want their paychecks in their acct before they go for the year leaving a few junior members in charge to just watch things . The elections here tuesday may be the thing that starts the ball rolling . The great purpled lipped messiah has found out it takes more than blaming the previous administration for everything you actually have to do something, ( running around with a clipboard and talking from a teleprompter really dont prepare you for much lol) , and his policies and the way they have slipped things thru has made things worse which the majority of the working class have finally started figuring that out and that they have been doing that since they basically had control of congress since 2006 . At the very least the results should make it harder for ole barry to get his bullshit crap thru which the equity mkt may see as positive as the regulations being pushed on them may at least slow down lol Commodities have been going up (grain mkts have exploded ) . So a spark to get things started and a nice big move could be rather quick . The gbp has had 3 weekly closes above an average it hadnt closed above since august of 2008 . The gbp likes the 272 levels and 618 levels of abc patterns which puts tgts above right around the weekly 200 and tht is also the 50% fib of the entire drop of 2008 and 2009. Anyway should be an interesting month and half of trading no matter which way it goes . Good luck my friend and good luck to all , cheers
Attached Image (click to enlarge)
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  • #262,499
  • Oct 31, 2010 12:06pm Oct 31, 2010 12:06pm
Quoting digger1
My good friend be careful with the shorts . All tho its a weekly chart we have spent the better part of this year building this set-up and we have about a month before the big dogs will be gone on their holiday vacations and they will want their paychecks in their acct before they go for the year leaving a few junior members in charge to just watch things . The elections here tuesday may be the thing that starts the ball rolling . The great purpled lipped messiah has found out it takes more than blaming the previous administration for everything...
I hear you matey and the weekly close also shows a bullish engulfing. My short will only be short-term if the gap is big enough. Like you said, this month could be a historic month with currency pairs making new historic numbers... we will have to see what happens, but volatility seems to be returning with the VIX going from 19 to 21 in the last 7 days! I am bullish on this pair since Friday's close, but my charts show a retrace first!
  • #262,500
  • Oct 31, 2010 12:40pm Oct 31, 2010 12:40pm
Quoting bbakker
I hear you matey and the weekly close also shows a bullish engulfing. My short will only be short-term if the gap is big enough. Like you said, this month could be a historic month with currency pairs making new historic numbers... we will have to see what happens, but volatility seems to be returning with the VIX going from 19 to 21 in the last 7 days! I am bullish on this pair since Friday's close, but my charts show a retrace first!

Did you happen to see the GU jump up in that last 15 minutes before closing at 5:00pm est. Maybe it does not mean much but it was pretty bullish late at end of market. Well, we shall see what will happen.
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