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Cable Update (GBPUSD)

  • #299,321
  • Edited 9:42am Jan 27, 2012 9:28am | Edited 9:42am
Correct. The decline in OI in British Pound futures brought the downtrend 1.61- 1.53 to its end.

Quoting gsantri
No, your comment was good.

but I think what gfs meant by declined OI was for Bearish position that had been there for sometime, means its about to turn to bullish.

good morning/day btw
  • #299,322
  • Edited 9:43am Jan 27, 2012 9:33am | Edited 9:43am
Open Interest is the number of outstanding transactions on the end of trading day. Think about Oi as and interest in the market. One new transaction creates new contract, therefore more buyers coming in driving the demand up (higher prices) This is core dynamic in futures markets to gauge the strength and trend direction. Price is a function of the supply and the demand, OI is the reflection of it.
Regards


Quoting Ill-b-back
Uh, ok, I don't think I even know what open interest is (interest paid to holders of a currency??), I just trade trendlines, and more recently toying with weekly fib levels. I won't take up much of your time I promise but I might let myself learn something here. So OI is paid to holders of that particular currency?? Thx in advance.
  • #299,323
  • Edited 9:45am Jan 27, 2012 9:34am | Edited 9:45am
Morning to evening still remain the same in low ranges for more correction down or so , gu limit down for bull 5628 , breaks 5561 to 5538 bo level .while eu 3052 limit to 2992 bo level .
usdx , no notochort staggering movements but still bottom hold somehow .
fontu
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu3.gif Size: 10 KB
Click to Enlarge Name: gu4.gif Size: 11 KB
Click to Enlarge Name: usd33.gif Size: 15 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #299,324
  • Jan 27, 2012 9:38am Jan 27, 2012 9:38am
Cant be done.
Retail traders control 5% of daily total transactions in FX market.We dont have so much money to move the price.
FXCM - the biggest broker in US has 13-16 bilion in transactions a day, the whole market accounts for 3trilion?

We could probably move some pips outside of regular hours but still not enough to impact mid term.
What we can do is to watch the big guys and do what they do right? This way we get to 10% who control the market.


Quoting UbuFamily
this comment is for all GU traders, just for fun, why don't we try to engage together to moves the price? isn't it the big player/corporation moves most the GU prices? so why don't we combined in this moment to moves price in our way? interesting isn't it?
  • #299,325
  • Jan 27, 2012 9:43am Jan 27, 2012 9:43am
Thanks God I am saved!! Took profit on my shorts .. and as it always happens, price is moving more and more !!
" The fool who never traded Demo "
  • #299,326
  • Jan 27, 2012 9:46am Jan 27, 2012 9:46am
Quoting abdul_halim
update..
Holding..
update..
TP1 around 1.5627 or depend on price movement
Attached Image (click to enlarge)
Click to Enlarge Name: guu.jpg Size: 188 KB
  • #299,327
  • Jan 27, 2012 9:59am Jan 27, 2012 9:59am
This is an updated chart from the one I posted earlier this morning - like one hour ago.....below is the original chart from this morning.

http://www.forexfactory.com/showthre...25#post5332625


As you can see...price has pulled back into the circle area.....lets see how far it goes.....

cheers,

Faller.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart of GLOBEX~@6BH2 Double Top.jpg Size: 165 KB
I don't trust any move - when you have profit...take it.
  • #299,328
  • Jan 27, 2012 10:08am Jan 27, 2012 10:08am
Quoting Faller
This is an updated chart from the one I posted earlier this morning - like one hour ago.....below is the original chart from this morning.

http://www.forexfactory.com/showthre...25#post5332625


As you can see...price has pulled back into the circle area.....lets see how far it goes.....

cheers,

Faller.
  • #299,329
  • Jan 27, 2012 10:09am Jan 27, 2012 10:09am



Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 17 KB
90% of traders use TA, indicators and prediction
  • #299,330
  • Jan 27, 2012 10:14am Jan 27, 2012 10:14am
Quoting _BBKing_



  • #299,331
  • Jan 27, 2012 10:21am Jan 27, 2012 10:21am
price just drew in the short positions with a low volume high spread bar.

Long it is =)
  • #299,332
  • Jan 27, 2012 10:22am Jan 27, 2012 10:22am
Quoting abdul_halim

i took that when price was coming down.
got an heart attack looking it @5638!!!!
i thought "ok, 5pips more down and im heavy fucked!!"

90% of traders use TA, indicators and prediction
  • #299,333
  • Jan 27, 2012 10:44am Jan 27, 2012 10:44am
what a weakend for me............lovely
  • #299,334
  • Jan 27, 2012 11:01am Jan 27, 2012 11:01am
lets see how many bears are left here near 5720.
90% of traders use TA, indicators and prediction
  • #299,335
  • Jan 27, 2012 11:07am Jan 27, 2012 11:07am
just learning vsa and this is really coming in handy. I see testing after making some highs with low volume meaning the bears are weak.

of course using vsa in conjunction with my regular analysis.. just another filter to add on to my arsenal
  • #299,336
  • Jan 27, 2012 11:13am Jan 27, 2012 11:13am
Quoting Dyekid217
just learning vsa and this is really coming in handy. I see testing after making some highs with low volume meaning the bears are weak.

of course using vsa in conjunction with my regular analysis.. just another filter to add on to my arsenal

its one of most difficult things for me that vsa.
im totally unable to undersand how it plays out!
tried n tried in the past then i definetly decided to never look at it anymore.
my admiration to those who able to work with it!
wish you best success!
90% of traders use TA, indicators and prediction
  • #299,337
  • Jan 27, 2012 11:26am Jan 27, 2012 11:26am
Quoting _BBKing_
lets see how many bears are left here near 5720.
bears sleeping till 58
  • #299,338
  • Jan 27, 2012 11:38am Jan 27, 2012 11:38am
Quoting Fudomyo
Between Bernanke on Wednesday and Dudley today, shorts don't make much sense.

The US Fed seems hell bent on screwing the dollar and their own economy along with it.

Amazing.

.
Yeah but you have to give props to the USA supporting EU in that term aswell,because it seems they dont mind making dollar trash as far as other economies are concerned,and as we seen in the last two months,it takes nothing to lift dollar up versus other currencies,in my eyes its perfect world if it was to exist
  • #299,339
  • Jan 27, 2012 11:48am Jan 27, 2012 11:48am
Not doing any long time but seening usdx has no way hold before 78.55 to 78.28, 78.85 also there nearby & if so whatever abnormal the charst now in eu or gu they have no choice than to continue up . last tim gu not broken 5628 limit area & bounce over it & a one 5th leg likely contue up . wave now seems not any in impulse still stagger to up perhaps anyway .or next week . the part interacting is very weak take any action so soon or even a normal pullback , no bone at all or simply impotance .
so eu 3225 & gu 5727-5750 may todays high .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: usd33.gif Size: 15 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #299,340
  • Jan 27, 2012 12:13pm Jan 27, 2012 12:13pm
Quoting mano940
bears sleeping till 58

5750-70 area not easy!
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