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Cable Update (GBPUSD)

  • #309,841
  • Apr 26, 2012 2:21am Apr 26, 2012 2:21am
Quoting Nachiket
ya keep that bullish tone coming. thats what the bears want. i still have shorts from 1.6150 pending.
hope for nav,s sake you wrong ..you gotta Trade what you see and sometimes admitting your wrong is the smart thing to do ...being stubborn with forex it will eat you ,but you still have to trade your own plan ...
  • #309,842
  • Apr 26, 2012 2:23am Apr 26, 2012 2:23am
Quoting FXMindset
price can keep moving irrationaly,am looking 1.63 finish this week
I did expect 1.6183 to hold. We've had a bit of slippage and a bullish close in the last hour. You may be right, it could go all the way to 1.63 without a retrace to give us a bullish monthly close. After that, we have no choice but to go back down

My short from 1.618 stopped out -10 pips. Looks like we might get a much nicer price to short later in the week.
  • #309,843
  • Apr 26, 2012 2:24am Apr 26, 2012 2:24am
Quoting bguguen
Thats a pretty long shot given the fact the UK economy went into recession and
even if QE3 comes i think its pretty priced in now...
i think the move up as we saw over the last couple weeks may have just been smart money selling the dollar in expectation of QE3, so the blow wouldnt be that big.... but then when you increase Money supply which QE3 is, the Demand for Money would return to equilibrium price,
whenever QE comes up or increased money supply, yes short term the value of the currency drops but demand would also increase to recover back...

I believe it could have something to do with the swap lines that the USA is still keeping open for Europe. USA swap lines - unlimited funds are available for Euro Banks etc - Euro banks (and UK banks) borrow money from the USA through swap lines - they take the USA money - and buy the currency of their country or whatever currency that they require - therefore selling USA which puts pressure on the USA dollar.....and buying the Pound and Euro......it is a cluster fuck out there still - there is a bubble and things will come back into equilibrium sooner or later - until then.....trade trade trade.

Faller
I don't trust any move - when you have profit...take it.
  • #309,844
  • Apr 26, 2012 2:29am Apr 26, 2012 2:29am










#150







Patterns have an underlying mathematical structure.
  • #309,845
  • Apr 26, 2012 2:29am Apr 26, 2012 2:29am
Quoting PoundTrader
well navin im long with you at 1.6135 with a t/p at 1.6292http://www.pic4ever.com/images/acigar.gif
gonna put a few bucks in my pocket, and keep the rest open
  • #309,846
  • Apr 26, 2012 2:30am Apr 26, 2012 2:30am
I thought GDP number would be good which would boost the pound since the charts were bullish- but as we can see even a bad number couldn't reverse the underlaying trend which is banks are buying to squeeze their customers shorts and the market being 80% short cable and refusing to give up has made it easy. London boys get to crack the champagne now mission accomplished Navin must use longer term charts like this one to plan his winning trades.
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  • #309,847
  • Apr 26, 2012 2:30am Apr 26, 2012 2:30am
Thar she blows!!!
  • #309,848
  • Apr 26, 2012 2:31am Apr 26, 2012 2:31am
Quoting Ill-b-back
Yeah bro, new job. Some shady looking guys need an experienced guy to push some drugs for them onto the rich folk in Sydney's Eastern suburbs and North Shore. I normally wouldn't give the time of day to these toffs but for a company car, phone, laptop and decent salary, I'll make an exception. Interview seemed like a waste of time anyway so might have to wait until I do my Diploma of Education and enter the "Public System" (God Help Me).
  • #309,849
  • Apr 26, 2012 2:31am Apr 26, 2012 2:31am
back to bed
  • #309,850
  • Apr 26, 2012 2:31am Apr 26, 2012 2:31am
Oh come on, can we dispense with the IMHO's bs? I see it far too regularly posted in these parts. At heart, there is nothing humble about a forex trader, it doesn't fit the mold. Note: please do not take this comment too seriously, I mean it only as the truth, not the painful truth
Come with me if you want to live....
  • #309,851
  • Apr 26, 2012 2:36am Apr 26, 2012 2:36am
Quoting diggo
I did expect 1.6183 to hold. We've had a bit of slippage and a bullish close in the last hour. You may be right, it could go all the way to 1.63 without a retrace to give us a bullish monthly close. After that, we have no choice but to go back down

My short from 1.618 stopped out -10 pips. Looks like we might get a much nicer price to short later in the week.
Move the horizontal lines for today and tomorrow
look today is thursday and tomorrow is friday
and see how match the pattern one each others
and guess we are end of the month

and yes both Euro and Pound wanna Finish this bull in this week until the formation kisses

No Kiss No Finish..because both of them are horny..lol

1.63 I come baby
If there was easy money lying around,no one would be forcing it into your
  • #309,852
  • Apr 26, 2012 2:45am Apr 26, 2012 2:45am
Quoting Flatfish
I thought GDP number would be good which would boost the pound since the charts were bullish- but as we can see even a bad number couldn't reverse the underlaying trend which is banks are buying to squeeze their customers shorts and the market being 80% short cable and refusing to give up has made it easy. London boys get to crack the champagne now mission accomplished Navin must use longer term charts like this one to plan his winning trades.

nope i dont but i havent lived in UK all my life and have that chart imprinted into my skull naturally..1.52 on pound is about as weak as one can ask for
  • #309,853
  • Apr 26, 2012 2:47am Apr 26, 2012 2:47am
This is it, 30% of my account is wasted.

This boat is sinking and I refuse to leave it.

Fuck cable and UK banks.

EDIT: and fuck the City of London too.
  • #309,854
  • Apr 26, 2012 2:50am Apr 26, 2012 2:50am
Quoting Flynchenberg
This is it, 30% of my account is wasted.

This boat is sinking and I refuse to leave it.

Fuck cable and UK banks.

EDIT: and fuck the City of London too.

dont worry..1.65 and it may reverse..hopefully u have enough to cover this...it still may reject as well, the piece of sh*t..

stay strong!!..myself am also getting itchy fingers

note:- this is not the titanic where we sink with da ship
  • #309,855
  • Apr 26, 2012 2:51am Apr 26, 2012 2:51am
Quoting Flynchenberg
This is it, 30% of my account is wasted.

This boat is sinking and I refuse to leave it.

Fuck cable and UK banks.

EDIT: and fuck the City of London too.
I wish I had lisened to Navin2007 , LOL.

Not a single day of retracment so I can kill some of my shorts, fuck....

Clear Banks manipulation, they are buying in expectations of millions of people on Olympics will spend billions of ££££ for stupid cheap crap they want to sell so thay winding the prices up.


Yeah, like 5M of uneployed Spanish blokes will come and spend money they do not have for things they do not need to impress the people they do not like.

Yeah, people are people...
  • #309,856
  • Apr 26, 2012 2:54am Apr 26, 2012 2:54am
G/M,

Even the Uk slipping back into a technical recession couldn't hold the £ down agsinst the $ yesterday - it recovering from it's post GDP data and daily low of 6080 to see a 6181 high, making it 8 daily t/f bullish candles in a row on the bounce up from 5617. Upside follow thru to a current daily hi of 6205 so far today.

Upside of current hi:

6201 Daily R1 @/around
6205-20-40-79 prev minor Daily sw lo zone (non immed) incl 6241 = Weekly R1 @/around, 6241 = Daily R2 @/around, and 6275= 85.4% 6454-5234
6289 76.4% 6617-5234
6304 Daily R3 @/around
6316 Monthly R2 @/around
6330-35 Weekly descending trend line on present Daily candle (Thursday)
6360 Weekly R2 @/around
6388 76.4% 6746-5234
6415 85.4% 6617-5234
6420-53 prev Daily sw hi zone
6524 85.4% 6746-5234
[ 6550-73 prev Daily sw hi zone incl 6571 Weekly R3 @/around
[ 6560-70 Weekly descending trend line on present Daily candle (Thursday)
6580-6617 prev Weekly/Daily sw hi zone incl 6597 = Monthly R3 @/around

G/L
ex member
  • #309,857
  • Apr 26, 2012 2:56am Apr 26, 2012 2:56am
Quoting Flynchenberg
I wish I had lisened to Navin007 , LOL.

nobody should have listened to me infact if u took my trade decision ud have blown the account..am not proud of this trade ..one bit

but need to stay firm..we are better than this..
be strong buddy..
  • #309,858
  • Apr 26, 2012 3:01am Apr 26, 2012 3:01am
Good day to you,

Ship may be turning here. I'm placing short with SL 1.6230- TP 1.6100

Going out for a while

All success
  • #309,859
  • Apr 26, 2012 3:02am Apr 26, 2012 3:02am
Quoting nAVIN2007
nobody should have listened to me infact if u took my trade decision ud have blown the account..am not proud of this trade ..one bit

but need to stay firm..we are better than this..
be strong buddy..
My account can withstand with a move up to 1.65 I believe.

But the thing is I will have to heavy leverage the short position then.

And I do not like and use leverage more then 50:1 which is extreme for me, LOL.

Oh well, another one bites the dust.

Seb
  • #309,860
  • Apr 26, 2012 3:03am Apr 26, 2012 3:03am
Quoting Ill-b-back
Oh come on, can we dispense with the IMHO's bs? I see it far too regularly posted in these parts. At heart, there is nothing humble about a forex trader, it doesn't fit the mold. Note: please do not take this comment too seriously, I mean it only as the truth, not the painful truth

i see yur point but think the point of saying is:- "its what i think ok? - so take a chill pill "
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