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Cable Update (GBPUSD)

  • #307,361
  • Apr 11, 2012 8:15am Apr 11, 2012 8:15am
Quoting PoundTrader
im short at 1.5927, s/l 1.5987, t/p 1.5824
im up, i see it drop down to 1.5850 area
  • #307,362
  • Apr 11, 2012 8:15am Apr 11, 2012 8:15am
Quoting bguguen
too obvious...

How about

"Trading Anything above 1H needs fundamental considerations" ??
Yeah, if you don't know how to trade
Come with me if you want to live....
  • #307,363
  • Apr 11, 2012 8:19am Apr 11, 2012 8:19am
GU 1hr and 5 min below...
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  • #307,364
  • Apr 11, 2012 8:22am Apr 11, 2012 8:22am
Quoting Faller
Since price action is sooooo boring...lets all post our favorite market quote -

You know....like....

the trend is your friend....

don't catch a falling knife....

etc.....

who is first?
Here are a few...


Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.


Amateurs want to be right. Professionals want to make money.



The four most dangerous words in investing are 'This time it's different'


In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten


Time is your friend; impulse is your enemy


What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower


Regards
  • #307,365
  • Apr 11, 2012 8:23am Apr 11, 2012 8:23am
anyone else see M5 H&S? targets 1.5850 area.
  • #307,366
  • Apr 11, 2012 8:24am Apr 11, 2012 8:24am
Hey guys as we seem o be having a boring day on GBPUSD...
Maybe time to bring EURGBP back into perspective...

where EURGBP is at suggests a possible reversal, hence giving strength to the Euro and Weakening the Pound...
Look at the Trend line we're having at that pair...

H4
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Weekly
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We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,367
  • Apr 11, 2012 8:24am Apr 11, 2012 8:24am
Quoting PoundTrader
im up, i see it drop down to 1.5850 area
good day to be a scalper
  • #307,368
  • Apr 11, 2012 8:24am Apr 11, 2012 8:24am
Be greedy when others are fearful, and fearful when others are greedy.
Come with me if you want to live....
  • #307,369
  • Apr 11, 2012 8:26am Apr 11, 2012 8:26am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting JeremyWS
anyone else see M5 H&S? targets 1.5850 area.
hawkishly watching it right now. The pair has seen strongest US movements around the 15:00 > 16:00 GMT for the past week or so.
  • #307,370
  • Apr 11, 2012 8:27am Apr 11, 2012 8:27am
Quoting eggs
hawkishly watching it right now. The pair has seen strongest US movements around the 15:00 > 16:00 GMT for the past week or so.
Thats because London Fixing happens at that time...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,371
  • Apr 11, 2012 8:28am Apr 11, 2012 8:28am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting JeremyWS
anyone else see M5 H&S? targets 1.5850 area.
Are you still buying it if the rt shoulder closes higher than the left?? just curious

SELLING I should say but I think you know what i mean.
  • #307,372
  • Apr 11, 2012 8:31am Apr 11, 2012 8:31am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting bguguen
Thats because London Fixing happens at that time...
makes sense bg. "Fixing"?? meaning settling their positions before market close?
  • #307,373
  • Apr 11, 2012 8:37am Apr 11, 2012 8:37am
Quoting eggs
Are you still buying it if the rt shoulder closes higher than the left?? just curious

SELLING I should say but I think you know what i mean.
Yeah I am shorting as long as left shoulder isnt higher than head. Plus neckline is a bit angles but that doesn't really matter.
  • #307,374
  • Apr 11, 2012 8:39am Apr 11, 2012 8:39am
Quoting eggs
makes sense bg. "Fixing"?? meaning settling their positions before market close?
Indeed because as you can see Forex happens between interbank, however you also have real currency demand..

like those who walk into a bank and demands their USD to be converted to British Pound...
what the bank does is they lock onto a position and sell you their Pounds for your USD for example...
but these records will have to go into the interbank, it cannot stay within the bank, the interbank will also need to know that a Bank has bought USD for Pounds...

This is one of the fuction of "fixing" but you have other functions too... hoping there are other pros here to answer you cuz it can be quite complicated...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,375
  • Apr 11, 2012 8:40am Apr 11, 2012 8:40am
Quoting Faller
confirmed tsunami

hope iii-be-back will be ok......

let us know what is going on

lol its me, A-spec and abdul u should cared more because we felt the shake too...Aceh, Indonesia are just below my country...but at the west side which nearer to A-spec...
I trade to live
  • #307,376
  • Apr 11, 2012 8:55am Apr 11, 2012 8:55am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting bguguen
Indeed because as you can see Forex happens between interbank, however you also have real currency demand..

like those who walk into a bank and demands their USD to be converted to British Pound...
what the bank does is they lock onto a position and sell you their Pounds for your USD for example...
but these records will have to go into the interbank, it cannot stay within the bank, the interbank will also need to know that a Bank has bought USD for Pounds...

This is one of the fuction of "fixing" but you have other functions too... hoping there...
Thnks bg. Interesting point. I would be interested to know how much of the exchange rate that is traded on the open market is actually driven by the underlying act of a traditional currency exchange outside of the spot market.
  • #307,377
  • Apr 11, 2012 9:00am Apr 11, 2012 9:00am
Quoting eggs
Thnks bg. Interesting point. I would be interested to know how much of the exchange rate that is traded on the open market is actually driven by the underlying act of a traditional currency exchange outside of the spot market.
most of it driven by traditional exchange,like japan/china trading with usa,theres those billions that are being wired everyday,the rest are funds and few floor traders that do speculations for the banks and diversity of their other portfolios :] my guess
  • #307,378
  • Apr 11, 2012 9:09am Apr 11, 2012 9:09am
  •  eggs
  • | Joined Nov 2011 | Status: Everybodys A Central Banker Here... | 819 Posts
Quoting pinkiaiii
most of it driven by traditional exchange,like japan/china trading with usa,theres those billions that are being wired everyday,the rest are funds and few floor traders that do speculations for the banks and diversity of their other portfolios :] my guess
Hmm. Also makes good sense pink. This has always been my understanding.

I've often wondered why there are not more resources for this type of data as most if not all of these transactions should be public info & 100% transparent. I know bond purchases are a big part of the picture that should be easily tracked as having a correlation to the xchng rates.

I would be more speculative as to how much the private sector plays a role.
  • #307,379
  • Apr 11, 2012 9:19am Apr 11, 2012 9:19am
Woot... My RAM upgrades just arrived through the door...
i've been having headaches for the past couple of weeks running XP on my Macbook via Mac Os X Virtualization, sucked up my Memory like a beast, but i had to multitask between XP and Mac...

Now i upgrade my Mac's Memory to 8GB that should do it...
No more Virtualization Crashes!
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #307,380
  • Apr 11, 2012 9:29am Apr 11, 2012 9:29am
Quoting Ill-b-back
Don't fcuk with meh positions (guess which long term trader)

lol this sentence seems belong to navin...
I trade to live
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