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Cable Update (GBPUSD)

  • #269,981
  • Jan 25, 2011 12:35pm Jan 25, 2011 12:35pm
all tho i got in late i think we all should be up many pips, im short at 1.5852 with t/p at 1.5586.
  • #269,982
  • Jan 25, 2011 12:41pm Jan 25, 2011 12:41pm
Quoting PoundTrader
all tho i got in late i think we all should be up many pips, im short at 1.5852 with t/p at 1.5586.
sell all rallies already 'on' just now for EU, GU, GY as well as EY...i am watching AUD as well...perhaps next week or this weekend will have sudden rate from chinese....who knows.

still waiting for that moment...u may seen another cycle like today movement by tomrrow when MPC meeting come out....let see what happen...in less than 1 hrs u may get something....perhaps...

1.584-1.588 just watch at this area for another setting........

enjoy ur trade n cheers

g
  • #269,983
  • Jan 25, 2011 12:57pm Jan 25, 2011 12:57pm
Quoting grashid
sell all rallies already 'on' just now for EU, GU, GY as well as EY...i am watching AUD as well...perhaps next week or this weekend will have sudden rate from chinese....who knows.

still waiting for that moment...u may seen another cycle like today movement by tomrrow when MPC meeting come out....let see what happen...in less than 1 hrs u may get something....perhaps...

1.584-1.588 just watch at this area for another setting........

enjoy ur trade n cheers

g
  • #269,984
  • Jan 25, 2011 1:16pm Jan 25, 2011 1:16pm
Are you bulls blind or something? There's a clear H&S formation on H1 and W1 which started forming since August 10. I warned about this on weekend - and few listened.

+400 pips today, still holding them
  • #269,985
  • Jan 25, 2011 1:37pm Jan 25, 2011 1:37pm
Quoting grashid
ur candlestick itself = the only leading indicator. That it !

p/s: i use lower TF for my entry as well as monitor the PA movement. while higher TF for my direction...simple.

g
ur candlestick is YOUR leading indicator.That it!
We all have different time schedules and methods of trading within our given amount of time for trading..using our leading,trigger indicators.
A quick glance at a chart from someone that you are in time synch with, indi synch with and in empathy with., is worth more than gold in confirming your plan... at times when you are looking for further confirmation.
Reading the candles alone takes many ,many hours of sitting in front of your screen. Not good for most peoples health.
This is the reason why people use indies .. to reduce their screen time.
It's allowed, why complain.?
This is one that i drew earlier...
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX GBP_USD (25-JAN-11).png Size: 21 KB

RBS..8Dec/20 Jan @15842. Hanging man forming on H4. I see supply zone as 15842-15885.
Funny thing is, i draw these lines in as S/R , S/D days before they crop up as DP , WP, MP. Now where do you think i get that from?
Staring blank face at a screen , or analysing and drawing what i see for future and timely reference? These lines that we draw in are indies.
Perhaps i've misunderstood what you are saying. If so i apologize.
To all of you...trade and develop your edge in the best way for yourselves.
All systems of divination, like music itself,work through patterns.
  • #269,986
  • Jan 25, 2011 2:31pm Jan 25, 2011 2:31pm
Neutral spinning top on M30 bang centre of static channel 15777 and S3 at 15840. Demand zone esablished imho. Lets see @ 15840.
All systems of divination, like music itself,work through patterns.
  • #269,987
  • Jan 25, 2011 3:04pm Jan 25, 2011 3:04pm
Good to see you . I've been in and out all day. Hope things are all good for you as you make things for us .
kx
All systems of divination, like music itself,work through patterns.
  • #269,988
  • Jan 25, 2011 5:01pm Jan 25, 2011 5:01pm
http://www.bankofengland.co.uk/publi.../speech471.pdf

Summary:
Speaking to a business audience in Newcastle, Mervyn King cautioned that living costs will continue to accelerate.

"CPI inflation was 3.7% at the end of last year, and... is likely to rise to somewhere between 4% and 5% over the next few months, before falling back next year."

He went on to say that as a result of high inflation our spending power will fall for the longest period in almost a century.

"In 2011 real wages are likely to be no higher than they were in 2005. One has to go back to the 1920s to find a time when real wages fell over a six year period."

His comments came just hours after official figures showed the UK economy contracted by 0.5% in the last quarter of 2010.

That was far worse than analysts had predicted and revived fears that the UK economy is heading back into recession.

But Dr King also used his speech to say the British economy has a brighter future and indicated his support for the coalition's policies.

"The UK economy is well-placed to return to sustained, balanced growth over the next few years as a result of a fall in the real exchange rate combined with a credible medium-term path of fiscal consolidation."
  • #269,989
  • Jan 25, 2011 5:10pm Jan 25, 2011 5:10pm
Quoting bbakker
http://www.bankofengland.co.uk/publi.../speech471.pdf

Summary:
Speaking to a business audience in Newcastle, Mervyn King cautioned that living costs will continue to accelerate.

"CPI inflation was 3.7% at the end of last year, and... is likely to rise to somewhere between 4% and 5% over the next few months, before falling back next year."

He went on to say that as a result of high inflation our spending power will fall for the longest period in almost a century.

"In 2011 real wages are likely to be no higher...

Cut some more benefits, get rid of another 300k council workers, close down a few more quango's; can think of plenty more cost cutting measures that we could use here.

Cameron is now rewriting the strike laws too, keep the trolley dollys and firefighters from striking over nothing.

Cameron and King are a great double team and they are on the right track, this will change the UK for a generation. He can now finish what Maggie started.

Speeches like this are brilliant in preempting the unions and their demands. We should see another week GDP for this quarter with the VAT rise, then it will start to rise, and quicker then it would have without the current policies.
  • #269,990
  • Jan 25, 2011 5:19pm Jan 25, 2011 5:19pm
Quoting personalme
Lol seems you're distracted too much. I dont hear metallica while I'm trading. Quiet or some instrumental will be fine. What is your plan? what is your plan? what is your plan?
hello KK Personalme,
remember me,,??

"one done men" i have MC again
can you help me about my trouble,,
only an analysis, and I'm always wrong, don't follow me,
  • #269,991
  • Jan 25, 2011 5:24pm Jan 25, 2011 5:24pm
Quoting grashid
ur candlestick itself = the only leading indicator. That it !

p/s: i use lower TF for my entry as well as monitor the PA movement. while higher TF for my direction...simple.

g
Master G,

I thought that should provoke a response.

Though less reliable in the fast moving forex, I'll always like
Japanese candlesticks especially for their mystique but would
rather trust the simplicity of MMAs without the candles or bars.

My kind of leading indicator:

Gather > Release > Separate >>>> Gather > Release > Separate

How simple is that?

Dr. D.
Attached Images
  • #269,992
  • Jan 25, 2011 6:42pm Jan 25, 2011 6:42pm
Does it look like cup and handle on GU H4 chart???
commetns would be much appreciated?

HK
  • #269,993
  • Jan 25, 2011 7:01pm Jan 25, 2011 7:01pm
Quoting hkkhanus
Does it look like cup and handle on GU H4 chart???
commetns would be much appreciated?

HK
To be cup and handle, you'd want it to be a continuation of a previous trend. This doesn't have that. However, I might suggest that you're looking at a completed double-top.
  • #269,994
  • Jan 25, 2011 7:05pm Jan 25, 2011 7:05pm
Thanks JTP, do you have a link so i can try and study the pattern?
if you dont mind sharing?
Thanks in advance
hk
Quoting JustThePips
To be cup and handle, you'd want it to be a continuation of a previous trend. This doesn't have that. However, I might suggest that you're looking at a completed double-top.
  • #269,995
  • Edited 7:15pm Jan 25, 2011 7:10pm | Edited 7:15pm
Quoting hkkhanus
Thanks JTP, do you have a link so i can try and study the pattern?
if you dont mind sharing?
Thanks in advance
hk
Sure! For your Cup and Handle, which I was mentioning continuation of trend (http://stockcharts.com/help/doku.php...th_handle_cont)

I didn't like their double-top picture, so here's the one from BabyPips site (http://www.babypips.com/school/doubles.html)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 69 KB
  • #269,996
  • Jan 25, 2011 7:20pm Jan 25, 2011 7:20pm
Quoting fourxtrader
Master G,

I thought that should provoke a response.

Though less reliable in the fast moving forex, I'll always like
Japanese candlesticks especially for their mystique but would
rather trust the simplicity of MMAs without the candles or bars.

My kind of leading indicator:[color=blue]...
...

n plenty of method in this world right...just stck into it as long as they can make a constant profitable n make us become rich.....

talk later Dr....cheers

g
  • #269,997
  • Jan 25, 2011 7:31pm Jan 25, 2011 7:31pm
Quoting cloggie
Cut some more benefits, get rid of another 300k council workers, close down a few more quango's; can think of plenty more cost cutting measures that we could use here.

Cameron is now rewriting the strike laws too, keep the trolley dollys and firefighters from striking over nothing.

Cameron and King are a great double team and they are on the right track, this will change the UK for a generation. He can now finish what Maggie started.

Speeches like this are brilliant in preempting the unions and their demands. We should see another week GDP for...
Welcome back, Sir !
  • #269,998
  • Jan 25, 2011 7:56pm Jan 25, 2011 7:56pm
Hi all, I caught this simple setup for a long on GU early Asian session today. REASONS FOR GOING LONG (1) Simple two bar reversal pattern (Inside bar) forming at 88.6% retrace of yesterday's high to low. (2) MACD shows that there should still be some upmove. Target 200 period (weighted) MA (same as 61.8% retrace level) 1.5870 See chart attached. Happy trading!
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #269,999
  • Jan 25, 2011 8:27pm Jan 25, 2011 8:27pm
Quoting forexcompoun
Hi all, I caught this simple setup for a long on GU early Asian session today. REASONS FOR GOING LONG (1) Simple two bar reversal pattern (Inside bar) forming at 88.6% retrace of yesterday's high to low. (2) MACD shows that there should still be some upmove. Target 200 period (weighted) MA (same as 61.8% retrace level) 1.5870 See chart attached. Happy trading!
Could be, although there may be some difficulty getting past the 1.5825 resistance area. If it does break up, I echo your sentiment for the 1.5860/70 cap. I think it will find quite a bit of selling pressure there. Seems like the buyers were pretty quiet after the 200 pip drop down to 5750, so I'm thinking short for the longer term. Hope you grab your pips!
  • #270,000
  • Jan 25, 2011 8:30pm Jan 25, 2011 8:30pm
Quoting forexcompoun
. . . Target 200 period (weighted) MA (same as 61.8% retrace level) 1.5870
Correction please, the 200WMA is at 1.5914 we can take partial profit at 1.5870 then the remaining at 1.5930
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