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Cable Update (GBPUSD)

  • #314,501
  • May 24, 2012 3:51am May 24, 2012 3:51am
Awsome trade! Hey, Bones, when you post the charts could you please add a little bit of analysis? Really want to learn that cool trading skills.


Quoting Bones
nav I have added also gbp jpy added £8 per pip
  • #314,502
  • May 24, 2012 3:51am May 24, 2012 3:51am
why is pound going up on bad gdp
  • #314,503
  • May 24, 2012 3:53am May 24, 2012 3:53am
Daily as below:

G/L
Attached Image (click to enlarge)
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ex member
  • #314,504
  • May 24, 2012 3:56am May 24, 2012 3:56am
Quoting elderfest
why is pound going up on bad gdp
No idea, gdp was bad anyway ie double dip with the -0.2% now -0.3% so Perhaps it's a pullback in the downtrends on t/f's from 30min to Daily up from support previously decsribed and market ignoring the slightly worse data ? Who knows - good job we only have to trade what we see not what we think Lol !

G/L
ex member
  • #314,505
  • May 24, 2012 4:08am May 24, 2012 4:08am
Lol ,well what do you think as trader ??


Quoting bbmac
No idea, gdp was bad anyway ie double dip with the -0.2% now -0.3% so Perhaps it's a pullback in the downtrends on t/f's from 30min to Daily up from support previously decsribed and market ignoring the slightly worse data ? Who knows - good job we only have to trade what we see not what we think Lol !

G/L
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,506
  • May 24, 2012 4:08am May 24, 2012 4:08am
anyone short after correction ?
  • #314,507
  • May 24, 2012 4:11am May 24, 2012 4:11am
My advise is not to try to think about 1 news event ,really small trader theres no need to ,maybe get a feel overall


Quoting elderfest
why is pound going up on bad gdp
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,508
  • May 24, 2012 4:11am May 24, 2012 4:11am
What correction ,price breaks price tests

Quoting jajano
anyone short after correction ?
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,509
  • May 24, 2012 4:13am May 24, 2012 4:13am
Very high prob now that I am on right side Nav


Quoting nAVIN2007
wow

id have pass out..beautiful trading bro!!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,510
  • May 24, 2012 4:14am May 24, 2012 4:14am
im short, we will see 1.56 today
  • #314,511
  • May 24, 2012 4:16am May 24, 2012 4:16am
Quoting Bones
Lol ,well what do you think as trader ??
I try not to think - I just trade what I see - I am a short-term techie day trader not a fundie trader, - ie my trading edge is technically derived- I don't need to know why - thinking and trying to work out why price does what it does can lead to a preset opinion that can make it hard to take opposing technically based sets-ups so it can be counter productive. It is one of the great advantages of tech trading - we don't need to figure out why !

The charts below shows the knee-jerk data react on 1min then the resulting 10min candle after the data..

G/L
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ex member
  • #314,512
  • May 24, 2012 4:18am May 24, 2012 4:18am
Pin bar traders beware(d1)


Quoting bguguen
we shall see dude if weekly closes above that trendline the it invalidates you entirely... i have some friends trading equities who are also LONG gold mining company stocks..... i first i thought they're nuts but sometimes you got to wonder....
Also gold can rise if theres any sign of a dollar weakness and i beg to wonder if the Dollar is actually retracing down a bit before the next up.... this will give gold a bit of breathing space to the upside...
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,513
  • May 24, 2012 4:21am May 24, 2012 4:21am
Quoting Itrade24h
im short, we will see 1.56 today
please share your reason (s) for the absolute certainty of your statement ?

G/L
ex member
  • #314,514
  • May 24, 2012 4:31am May 24, 2012 4:31am
Quoting bbmac
please share your reason (s) for the absolute certainty of your statement ?

G/L
The macroeconomic situation, now the technical analysis is not really important, the greece situation is worse that all we think.
  • #314,515
  • May 24, 2012 4:48am May 24, 2012 4:48am
don't need to figure out why ! agreed

I think youd be good High time frame trader



Quoting bbmac
I try not to think - I just trade what I see - I am a short-term techie day trader not a fundie trader, - ie my trading edge is technically derived- I don't need to know why - thinking and trying to work out why price does what it does can lead to a preset opinion that can make it hard to take opposing technically based sets-ups so it can be counter productive. It is one of the great advantages of tech trading - we don't need to figure out why !

The charts below shows the knee-jerk data react on 1min then the resulting 10min...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,516
  • May 24, 2012 4:48am May 24, 2012 4:48am
Quoting Itrade24h
The macroeconomic situation, now the technical analysis is not really important, the greece situation is worse that all we think.

Thanks for the answer, your statement that 5600 will be seen today may prove right or wrong but the point is that no one knows really. Yes the macro economic/political situation you describe is proving to be a drag on this pairing but these global macro/fundie analyses are not good for pinpointing intraday tragets - just overall environments and overall sentiment/direction and longer trem targets/likely direction and levels. There are many counter trend moves in a bearish market and vice versa on any t/f's and generally you cannot use a general global macro analysis to pinpoint a target on any specific day. Others may and doubtless will disagree.

G/L
ex member
  • #314,517
  • May 24, 2012 4:50am May 24, 2012 4:50am
jeeps had to look that up ,lol


Quoting Itrade24h
The macroeconomic situation, now the technical analysis is not really important, the greece situation is worse that all we think.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,518
  • May 24, 2012 4:51am May 24, 2012 4:51am
Probability is with the staement tho


Quoting Itrade24h
im short, we will see 1.56 today
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #314,519
  • May 24, 2012 4:54am May 24, 2012 4:54am
Quoting Bones
don't need to figure out why ! agreed

I think youd be good High time frame trader
lol, thanks but just now I don't think I have the patience, - I prefer instant gratification ! - and like to trade 5hrs/day or less so there are more opps on smaller t/f's in that time particularly if you trader just one pairing like I do - gbpusd.

G/L
ex member
  • #314,520
  • May 24, 2012 4:57am May 24, 2012 4:57am
gbp is winding up ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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