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Cable Update (GBPUSD)

  • #278,261
  • May 4, 2011 6:35am May 4, 2011 6:35am
Quoting _BBKing_
i think this answer will come soon.
i see same upward like yesterday from 6460 to 6540
but now things are bit different
as i see on h1, price now above previous line (downward) lost @6570
at least can give first support near 6500
Thank for your opinion.
  • #278,262
  • May 4, 2011 6:43am May 4, 2011 6:43am
I guess in half an hour we will have some movements, still thinking about short @ 1.653x...
  • #278,263
  • May 4, 2011 7:00am May 4, 2011 7:00am
hi guys

as we are news-ing around here and nothing to do I will share with you how to place several charts on several monitors(in case you have more than 2)

open MT4-go to the bottom right corner where you see a lined triangle.
press that one and just stretch the MT4 across the whole monitors

then doubleclick on the chart you have to make it smaller and just move them across the screens how you like it.

I just found it out I had 2 monitors and used only one
  • #278,264
  • May 4, 2011 7:03am May 4, 2011 7:03am
Quoting sphinx8
I guess in half an hour we will have some movements, still thinking about short @ 1.653x...
We will probably see it going up for a while. ADP non-farm change is predicted to be lower.
  • #278,265
  • May 4, 2011 7:07am May 4, 2011 7:07am
Quoting 0rPhioZ
We will probably see it going up for a while. ADP non-farm change is predicted to be lower.
I agree with you. It seems to me USD is really weak.
  • #278,266
  • May 4, 2011 7:10am May 4, 2011 7:10am
Although the market’s recent non-stop explosion has taken a breather, it will probably continue right back up soon. Everything that would normally be of a concern; poor job growth, rapidly declining GDP, and a massive (read: unpayable) bailout of Portugal are ignored. Yes, corporate profits are good and should be reflected in the market but what about the rest? Shouldn’t this be factored in too?

Bill Bonner of the Daily Reckoning takes up some of these issues here in a recent article
http://dailyreckoning.com/gdp-and-job-growth-not-consistent-with-feds-economic-outlook/

05/02/11 Baltimore, Maryland – First, did you notice? Gold shot up $25 on Friday. At this rate, it will be at $1,600 by the end of this week.

Why? The smart money is betting that the feds will keep pushing inflation.

But today, let’s ignore the feds and talk about what’s happening in the economy.

You saw the latest GDP numbers last week. In the first quarter, the economy grew at a 1.8% annual rate, said the estimate. That is equivalent to the average real rate of growth for the US economy since 1925. The only trouble is, this growth isn’t real. It’s counterfeit. It’s phony.

The feds blamed the decline in growth on the weather. Krugman blames the feds for being too timid.

Bernanke said growth wasn’t so bad. He said it was “moderate.”

So, let’s step back. What do you see?

Real estate is still going down. No doubt about that…

The unemployment rate is going down too…but most of the improvement has been made by taking people who can’t find a job off the list! Sounds crazy. But that’s what they do. If you don’t find a job in a certain amount of time, they figure you’ve given up.

But does that mean you’re no longer unemployed? Of course not. It means you’re worse off than ever.

You’re one of the “long-term” unemployed…out of work for so long that employers are reluctant to take you back. They think you’ve lost the habit of work…and your skills are out-of-date.

To give you an idea of how many people are looking for work, McDonald’s just did a big nationwide hiring campaign. While it hired a few thousand new employees, it had to turn away 932,000 applicants!
Even those who have work are losing income. Wages are flat…and falling when you adjust them for inflation properly.

Consumer prices rose at a 7.4% annual rate in the first quarter, according to MIT’s Billion Prices Project.

Hmmm… How many people got a 7% + raise ?

GDP is going up at a 1.8% rate. Adjust that number for population growth…and a correct measure of inflation…and you see that the average person is getting poorer. “Moderate” growth? There’s no growth at all.

These facts are NOT consistent with the feds’ economic outlook. They ARE consistent with our Great Correction outlook.

The feds thought they could fight the slump in the usual way – with more EZ cash and credit. Now they find that none of their programs – TARP, TALF, QE1, QE2, and zero interest rates – has worked.

Why? Because EZ money is part of the problem, not part of the solution.

In our view, the economy (with the help of Mr. Market) is correcting a number of things…

…a half century of credit expansion (debt increases were mostly prudent and productive in the ’50s and ’60s…but not in the ’90s and ’00s)

…a bubble in housing and finance, caused largely by EZ money

…an overvalued stock market (the correction began in Jan. 2000…but the bottom still hasn’t been found) – also caused by EZ money

…a 30-year bull market in bonds

…a foolish monetary system set up by Richard Nixon in 1971.

That seems like more than enough work even for a Great Correction.

But wait…there’s more…

Nearly 10 years ago we wrote a book on the subject (with Addison Wiggin). We predicted that the US would follow Japan into a long bear market. It was more of an intuition than real analysis. And it was wrong…or so it appeared.

The feds intervened so aggressively in 2001 and after, it looked like our intuition was faulty. Stocks rebounded…and went on to greater glory. So did the US economy…which went into bubble-mode in ’05-’07.

But now our intuition doesn’t look so bad after all. Japan went into a slump in 1990. It has never come out. Employment is about the same today as it was 21 years ago. Stocks sell at a third of their 1990 prices. And real estate is still down 50% to 75%.

In the US, take out the government deficits…and unsustainable debt-financed consumption…and the US private sector economy has gone nowhere in the last decade. No more real jobs. No more real income. No more real GDP per capita.

And the stock market, adjusted for inflation, is lower than it was in January 2000.

It now looks like the Great Correction actually began at the very beginning of the 21st century, in January 2000. For 10 years, it was disguised by the feds. Now, the phony beard is slipping off.

We’ve been in a correction for more than a decade already. And if we follow the Japanese model…we’ll still be in a Great Correction in 2021.

If the feds don’t blow us up first…
  • #278,267
  • May 4, 2011 7:27am May 4, 2011 7:27am
Quoting _BBKing_
crabs...butterflys... bats...
hihihhhi we could open a 'zoo'

Hi King wish U still have some Long
  • #278,268
  • May 4, 2011 7:29am May 4, 2011 7:29am
Quoting deryworlds
Hi King wish U still have some Long
Attached Image (click to enlarge)
Click to Enlarge Name: gusdd1.gif Size: 28 KB
90% of traders use TA, indicators and prediction
  • #278,269
  • May 4, 2011 7:30am May 4, 2011 7:30am
gu now retracement....
  • #278,270
  • May 4, 2011 7:37am May 4, 2011 7:37am
only reminds U Guys...cable EYE UP at 5551 break there we met back 6632
if NOT we heading Strong Rain to 6343......
  • #278,271
  • May 4, 2011 7:39am May 4, 2011 7:39am
Quoting _BBKing_

anyway..that is a small position thinkin on a med term tgt
i hope to add soon
still waitin better formation
90% of traders use TA, indicators and prediction
  • #278,272
  • May 4, 2011 7:43am May 4, 2011 7:43am
Still in the long side with GBP.

http://img705.imageshack.us/img705/8...uptrendwit.png
  • #278,273
  • May 4, 2011 7:45am May 4, 2011 7:45am
Quoting _BBKing_
anyway..that is a small position thinkin on a med term tgt
i hope to add soon
still waitin better formation
I believe Your 4H already give U something now.......
  • #278,274
  • May 4, 2011 7:50am May 4, 2011 7:50am
Quoting Pham
Still in the long side with GBP.

http://img705.imageshack.us/img705/8...uptrendwit.png
According to your chart it is right time to go long!
  • #278,275
  • May 4, 2011 7:51am May 4, 2011 7:51am
@josef: Hope so, mate. Keep in your hand now.

Pham, trader from Vietnam.
  • #278,276
  • May 4, 2011 7:53am May 4, 2011 7:53am
Quoting deryworlds
I believe Your 4H already give U something now.......

hihiihi
are you an hacker looking my pc??

i put SL in 'safe' area
lets see if we get 6550 now
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh4.gif Size: 17 KB
90% of traders use TA, indicators and prediction
  • #278,277
  • May 4, 2011 7:54am May 4, 2011 7:54am
GBP/USD intraday: rebound. Pivot: 1.645

Most Likely Scenario: Long positions above 1.645 with targets @ 1.6555 & 1.66 in extension.

Alternative scenario: Below 1.645 look for further downside with 1.6385 & 1.633 as targets.

Comment: the RSI has broken above a declining trend line, the pair is rebounding on its support and should post further advance.
  • #278,278
  • May 4, 2011 7:56am May 4, 2011 7:56am
Quoting _BBKing_
hihiihi
are you an hacker looking my pc??

i put SL in 'safe' area
lets see if we get 6550 now
Sure...
  • #278,279
  • May 4, 2011 7:57am May 4, 2011 7:57am
I only see EU heading to 1.50 and me drinking beer

but in 1 h we have news

if we are above expectations by 2.5 points we will see 1.50 on EU today

1.51 is the limit then huge drop

on GU the same if we are 2 points above the prediction we go up some 50 pips more from the prenews level

if below the prediction....down again to the bloody 1.6460 line
  • #278,280
  • May 4, 2011 8:04am May 4, 2011 8:04am
How about now ?

Quoting redbeben
morning guys

the butterfly thing might work if it wouldn't repaint
it's been like that on every bar since yesterday on both H1 and H4 and in between there have been ups and downs of more than 200 pips

I don't think it works this indicator...or at least it does not work for someone that has no idea on how to use it
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