Cable Update (GBPUSD)
ah... was forgetting!
must not forget the insane reversed H&S printed. best seen in h4.
will be interesting to see if price will reach again near 5900 and what will show once there.
...not to talk about the weekly one....
this is why i said needs to break the high..to confirm
so now we have price action which should build momentum..
glad u on the same page
also look at the 4hr chart ..swing low to high..price retrace 50% discounting the spread and as broke the high..ABCD formation..extreme bullishness exhibited
IMO, is waste of time, energy and brain.
ok, you can read sometimes articles about overall situation and everything you like. but will never be helpful for trading. can happen everything worse in UK USA or EUROPE and where ever you like, but if for some misterious reason price goes up it is time to search buy. if goes down it is time to search sell. period.
too many guru appears around the web AFTER a move and say "ah! it was due because this, because that, and there was that line or the other!" and BS like those....
bguguen -
I like what I read, even if it can sometimes be difficult to pick out the structure from the form of your presentation.
I think a lot that visit this thread would be happy to read a post more akin to an essay that you would prepare for review.
The supposition of fiscal loss from QE could be extended in association with equity indices, and thus give traders an 'indicator' as to potential currency fluctuations.
I most certainly think that you are correct with 'mind games', and coordinated central bank manoeuvres....
Thank you condor for you compliments but today's one of those days where i cant handle the mind games the fed is playing today... i had to tell people whats is going on... i dont want anyone to get hurt with this mind game.... i personally didnt trade today because i knew something was up... usually best time for things like this to happen on a monday, and boy was it surprising...
for the last 2 months we've heard bernanke talk about how the US economy is in recovery which stirred up some of the Fed owners fury as Yields get high making their Bond...
I can see u have a great grasp for whats happening potentially..plenty to learn form u..keep posting!!
Thanks navin, just piecing up the puzzle together, people didnt realise why the US Treasury yields are kept so low for some time and the simple explanation is because the US fed are behind this... since they bough up a lot of bonds during their QE2 a lot of these bonds are bought with printed money,
What the Fed is more concerned at is Bonds bough using QE2 losing value with a rise in bond yields rather than the Value of the Dollar Decreasing...
IM LONG AT 1.5906, s/l 1.5855, t/p 1.6085
