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Cable Update (GBPUSD)

  • #312,101
  • May 8, 2012 10:22am May 8, 2012 10:22am
Quoting ninjafx
Good night friends and fellow traders.

Happy trading. See you again tomorrow :-)
see u mate
  • #312,102
  • May 8, 2012 10:25am May 8, 2012 10:25am
What time would London Close today?
  • #312,103
  • May 8, 2012 10:26am May 8, 2012 10:26am
Quoting exquisite
What time would London Close today?

the same time as yesterday -
I don't trust any move - when you have profit...take it.
  • #312,104
  • May 8, 2012 10:30am May 8, 2012 10:30am
Quoting uksnowman
You might be too young to remember but the biggest muppet of them all, Gordon Brown sold off a large portion (almost 400 tonnes) of the UK's gold reserves 10 years ago for under $300/oz. Talk about selling the low!!
Good day to you,

Sitting here today, looking back - yes - he was an idiot. BUT - in 1988, gold was trading at $245-258/oz if my memory serves. They may have bought a big part of their reserves then.. who knows.

I think this is the real problem. We all play Monday Fullback. Easy to look back. I believe the man did what he felt correct at that time.

No personal issue - just reflecting.

Regards
  • #312,105
  • May 8, 2012 10:31am May 8, 2012 10:31am
Gold down below 1.6000 , it will be a great oportunity to buy long term like in January
My long holding up, refuses to go down

http://s14.postimage.org/7pxgfatz5/cabel.gif
upload images
swing it!
  • #312,106
  • May 8, 2012 10:42am May 8, 2012 10:42am
Quoting Nachiket
opened a short at 1.6135. the move in last 2 hrs convinced me to change my view.

dam....

could you please post a chart so that we can understand why you were bullish but then changed to bearish?
I don't trust any move - when you have profit...take it.
  • #312,107
  • May 8, 2012 10:43am May 8, 2012 10:43am
cable has shown a strong upward move..let see how much it wanna go
  • #312,108
  • May 8, 2012 10:46am May 8, 2012 10:46am
this is good i am holding my long
  • #312,109
  • May 8, 2012 10:47am May 8, 2012 10:47am
1,61555 seems magical, 200SMA on M15 doesn't help either

Closed my long lets get back down, geezzzz......
swing it!
  • #312,110
  • May 8, 2012 10:48am May 8, 2012 10:48am
Quoting uksnowman
You might be too young to remember but the biggest muppet of them all, Gordon Brown sold off a large portion (almost 400 tonnes) of the UK's gold reserves 10 years ago for under $300/oz. Talk about selling the low!!
To be honest at the time gold hadn't done anything for 20 years. The real problem was that it was announced to the market and the schedules of the sales- so made it very easy for the big boys to front run him. I was told when silver was trading at just under $7 that the guys at the comex were buying hand over fist and planning on holding it till retirement. Needless to say are a realitively new trader at the time I choose to ignore that advice since I forex seemed to much easier to trade- hindsight where are you when I need you most
  • #312,111
  • May 8, 2012 10:48am May 8, 2012 10:48am
Look at usdcad, retesting 1.0000. My oh my how dollar's reaction is.
I trade to live
  • #312,112
  • May 8, 2012 10:52am May 8, 2012 10:52am
Quoting tomspin
Gold down below 1.6000 , it will be a great oportunity to buy long term like in January
My long holding up, refuses to go down

http://s14.postimage.org/7pxgfatz5/cabel.gif
upload images
At great breakout areas , a good bounce still expecting some belows but may not that strong like january perhaps , my views still for more down towards 1031 .
fontu
Attached Image(s) (click to enlarge)
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #312,113
  • May 8, 2012 10:57am May 8, 2012 10:57am
Right or wrong on Cable ,the market is indeed fractal ,in short if it works on 1min it works on 1 month


Quoting Bones
Fractal is an intresting word indeed timeframes there fractal ?

(not haviong a go just intresting discussion -bbmac =good poster ,diamond in rough,good trader no doubt)
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #312,114
  • May 8, 2012 10:59am May 8, 2012 10:59am
so 1 min divergence player he predicts price ,yes to trade you do that ,you can do further than the end of your nose !!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #312,115
  • May 8, 2012 11:00am May 8, 2012 11:00am
Talk about how the UK economy is a joke... i dare not tread in the topic of UK politics...
Conservative PM in office and UK just had a council election that led to a labor victory....
i fear for the UK economy... i sincerely do...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #312,116
  • May 8, 2012 11:00am May 8, 2012 11:00am
Quoting fontu
At great breakout areas , a good bounce still expecting some belows but may not that strong like january perhaps , my views still for more down towards 1031 .
fontu
Quite cold prediction I have to dissagree, to much funny money around and times are bad, with inflation to be faced on both sides of Atlantic it will be difficult to bring it down to that level

Smaller bodies and longer shadows, all I need is some confirmation

Sorry for off topic boys


http://s16.postimage.org/foft44nr9/gold.gif
upload images
swing it!
  • #312,117
  • May 8, 2012 11:06am May 8, 2012 11:06am
Quoting TauTrader
Good day to you,

Sitting here today, looking back - yes - he was an idiot. BUT - in 1988, gold was trading at $245-258/oz if my memory serves. They may have bought a big part of their reserves then.. who knows.

I think this is the real problem. We all play Monday Fullback. Easy to look back. I believe the man did what he felt correct at that time.

No personal issue - just reflecting.

Regards
Hi Tau, you're right hindsight is a wonderful thing. I don't know what price the treasury accumulated gold but looking at the long term chart (attached) it is unlikely to have been much below that level.

Going off topic here but that begs the question why sell off such a large reserve to "reduce UK portfolio risk"? Especially when the government squeezed out the princely sum of 22 billion GBP from the UK telecom operators for 3G licenses at around the same time.

No particular beef with Gordon Brown as such, just politicians in general! Time and time again, they have shown us they are willing to sell their own grandmother to stay in power. Rant over
Attached Image (click to enlarge)
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  • #312,118
  • May 8, 2012 11:09am May 8, 2012 11:09am
Hi Guys,
I've been testing the following signals for the last 1-2 weeks; and found:

1) Trendlord - pink lines + blue lines - no good for 1 min chart -it just duplicates what you can see on the chart - also in longer timeframes anyway. using std settings - doesnt assist in spotting a trend. - anyone get this to work well? and if so with what settings.

2) GMACD - signal m1 m5 then TREND M15 M30 H1
problem is - say m1 m5 m15 =down - in 60 seconds all can be changed to up - it doesn't indicate a trend properly (are there adjustment settings that will correct this? )

2 MA's seem to work better than these.

3) UltraTrend seems to work - but has anyone finetuned the settings for best results? info much appreciated.


Program on here "3 indicators, sweetspots, Trendlord and Super profit. - works on 1hr and 4hr - produced 3000 pips in one month - has anyone tried this?

VB
  • #312,119
  • May 8, 2012 11:18am May 8, 2012 11:18am
Quoting uksnowman
Hi Tau, you're right hindsight is a wonderful thing. I don't know what price the treasury accumulated gold but looking at the long term chart (attached) it is unlikely to have been much below that level.

Going off topic here but that begs the question why sell off such a large reserve to "reduce UK portfolio risk"? Especially when the government squeezed out the princely sum of 22 billion GBP from the UK telecom operators for 3G licenses at around the same time.

No particular beef with Gordon Brown as such, just politicians in general! Time...
good day to you, sir

all valid points you have set out.

As said many times before... I am a simple man. Trying to make a living in this zestpool of life.

One thing I have noticed at a very early age... politics is a business. Just like schools in ZA. It is not about the citizens, nor the children. It is about a 10% nett profit at the end of the FY...

They keep us dumb. This way, less questions.

So sick of this

Regards to you
  • #312,120
  • May 8, 2012 11:20am May 8, 2012 11:20am
Quoting PoundTrader
im long at 1.6136, s/l 1.6084, t/p 1.6204
base on PA the overall trend is still up, im looking to adust my t/p around 1.6236
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