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Cable Update (GBPUSD)

  • #315,441
  • Jun 1, 2012 3:15pm Jun 1, 2012 3:15pm
depends what time frame ,lol
you are of cousre so incorrect but ...I dont think your candle trader so alls cool


Quoting bbmac
2 x pinbar [tweezer bottom] candles on 15min trigger on re-test of the previous 1hr swing lo zone leading down to current daily lo in top 1/2 of the previous Mthly/Wkly/Dly swing lo zone leading down to 5234, followed b y a 30min and 1hr PB candle trigger and a strong post NFP bounce up, Not closed yet of course but daily looking different than it was - proving again that a candle isn't a candle till it's closed !!

G/L
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,442
  • Jun 1, 2012 3:36pm Jun 1, 2012 3:36pm
lol no I dont use stop loss no need ,I am short (4k loss at mo) but would have closed this morning just like i did all positions in main account but eur gbp long from couple of days ago ,

I also couldnt see my sig station ,which pissed me off

Anyway Ive had a great month to the point I know im ready





Quoting Faller
Where is Bones today? Is he still on holidays? Hope he had a stop loss on his Gold Short -

Have a good weekend everyone.

Faller
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,443
  • Edited 3:51pm Jun 1, 2012 3:39pm | Edited 3:51pm


yepee I am real trader at last ,5 years hard work ,Forex has paid me back triple in recent time
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,444
  • Jun 1, 2012 3:41pm Jun 1, 2012 3:41pm
Quoting id5
Your misinterpreting. The OP thought that an increase in gold in USD would mean an increase in all markets which is not the case. In your example

assuming gbp/usd=1.5, you buy 1 ounce = 1600$ worth or gold = GBP 1066

Gold then rises to $2000 an ounce but the USD falls against the GBP to 2.0 then 1oz gold = £1000 a loss of £66
Hi id5, sorry mate I see the confusion now. What I meant was, "regardless of the market", since an 85 percent increase in Gold is significant and will compensate for any USD devaluation.
Come with me if you want to live....
  • #315,445
  • Jun 1, 2012 3:49pm Jun 1, 2012 3:49pm
really it is very bad for miss info like this ,weekly you can look well before close as monthly ,



Quoting Bones
depends what time frame ,lol
you are of cousre so incorrect but ...I dont think your candle trader so alls cool
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,446
  • Jun 1, 2012 3:50pm Jun 1, 2012 3:50pm
eur gbp I am long ,
Attached Image (click to enlarge)
Click to Enlarge Name: eur gbp d1 01-06.gif Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,447
  • Jun 1, 2012 3:50pm Jun 1, 2012 3:50pm
hi again

backfrom the beach...managed to destroy my kite don't ask me how ...less wind so I slammed it a couple of times

closed the long trade on gold for a total profit of 25 usd and closed the short one on SL on a minus 163 usd .this was a good day indeed

and now I can see there will be a retrace first to 1587 then 1577 and the bottom 1553-1554 ....where I jumped in short.

didn't even look at NFP.....I just saw the price going up ....exactly what we were talking earlier this morning BBking ....if NFP will come I'm screwed

oh well,bad day for trading but at least I had a nice swim in the ocean
  • #315,448
  • Jun 1, 2012 4:21pm Jun 1, 2012 4:21pm
Gbp usd d1 has hit target 100% retrace , and also broke rising tl ,can not see whats happend lfx market but next target has to be 1.5


Quoting Bones
candle has wicks both ends but is neg ,is it bullish ? no I don't think so ,but is on support

lower wick off support profit taking
upper sellers ,as per strong trend

the gap up does bother me ,
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd d1 1-6.png Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,449
  • Jun 1, 2012 4:22pm Jun 1, 2012 4:22pm
Quoting Bones
really it is very bad for miss info like this ,weekly you can look well before close as monthly ,
i agree in bbmac: a candle isn't a candle until it comes closed.
look these weekly candles in GU...
we never know what happens until a candle is closed

this weekly anyway closed above the worst danger area.
from here price can reverse up some 600 pips or tank down some more 600.
time will tell
Attached Image
90% of traders use TA, indicators and prediction
  • #315,450
  • Jun 1, 2012 4:25pm Jun 1, 2012 4:25pm
what to consider? the pin or the close?
hihiihih
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot1.jpg Size: 65 KB
Click to Enlarge Name: Chart_GBP_USD_Weekly_snapshot2.jpg Size: 55 KB
90% of traders use TA, indicators and prediction
  • #315,451
  • Jun 1, 2012 4:25pm Jun 1, 2012 4:25pm
alls cool bb ,you are both wrong ,in fact its text book talk not experiance honestly

I have learnt from real candle trader ,in real world ,and what he has said makes perfect sense

anyway ,no problem


Quoting _BBKing_
i agree in bbmac: a candle isn't a candle until it comes closed.
look these weekly candles in GU...
we never know what happens until a candle is closed

this weekly anyway closed above the worst danger area.
from here price can reverse up some 600 pips or tank down some more 600.
time will tell
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,452
  • Jun 1, 2012 4:29pm Jun 1, 2012 4:29pm
help me out whats the pic ?


Quoting _BBKing_
i agree in bbmac: a candle isn't a candle until it comes closed.
look these weekly candles in GU...
we never know what happens until a candle is closed

this weekly anyway closed above the worst danger area.
from here price can reverse up some 600 pips or tank down some more 600.
time will tell
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,453
  • Jun 1, 2012 4:32pm Jun 1, 2012 4:32pm
Time will tell ,proberbilty in going up 600 pips after monthly broke like that

=0


Quoting _BBKing_
i agree in bbmac: a candle isn't a candle until it comes closed.
look these weekly candles in GU...
we never know what happens until a candle is closed

this weekly anyway closed above the worst danger area.
from here price can reverse up some 600 pips or tank down some more 600.
time will tell
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,454
  • Jun 1, 2012 4:37pm Jun 1, 2012 4:37pm
up maybe i cant see my charts but retace only I will sell ,for 1.5 this month
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #315,455
  • Jun 1, 2012 4:39pm Jun 1, 2012 4:39pm
Quoting Bones
alls cool bb ,you are both wrong ,in fact its text book talk not experiance honestly

I have learnt from real candle trader ,in real world ,and what he has said makes perfect sense

anyway ,no problem
well... personally i never decide a trade due to a candle. that's for sure. also true on the other side that sometimes candles shows possible reversals, rejections etc... but definetly a candle MUST be closed to read it. never read a candle when in the middle or even few minutes before it closes. (depending on TF). so many times i saw weekly bearish just turn completely bullish last day of the week and so many times i saw horly full bullish turning completely bearish just 30seconds before the close.
just this
90% of traders use TA, indicators and prediction
  • #315,456
  • Jun 1, 2012 4:42pm Jun 1, 2012 4:42pm
Quoting Bones
up maybe i cant see my charts but retace only I will sell ,for 1.5 this month
still downtrend i agree.
not yet to buy thinking on retrace!!!
maybe today's NFP gave a good stop on trend but not enough IMO.

when a day will come to look for a retrace i will be the first one loading insane longs!!

to think about a retrace i need at least a strong reversal sign in h4 charts or better in daily.
something like a reversed HS or cup or things like that.
can require whole june to print it, assuming that will do!
90% of traders use TA, indicators and prediction
  • #315,457
  • Jun 1, 2012 4:46pm Jun 1, 2012 4:46pm
oh well. time for the weekend came.

have to do my homeworks and many things.

enjoy your relax!

byebye
90% of traders use TA, indicators and prediction
  • #315,458
  • Jun 1, 2012 5:03pm Jun 1, 2012 5:03pm
Quoting _BBKing_
ok but so then what if we will have xau usd value 2k x oz and gbp usd @1.30?

tripled profits?

as i said, gold has its value. it's a thing, is not a number like currencies....
today you need X usd to buy it, tomorrow you will need X+ or X- usd. then if your local currency lose value against the usd is not a matter of gold, is a matter that everything you buy you spend more money because is your local currency that loses value. but in that case you will have MORE amount of local currency if the gold will appreciate.

if would not like this, why...
Exactly right.

Look at it this way. Since GU went to 2 and gold to $2K, you get 1000GBP where you paid 1066GBP for it before.

But at GU 1.5 you could get 1600$ for 1066gbp and now you get 1600$ for 800gbp. Since your currency value has increased you can get gold with lesser pounds but those less pounds are worth a lot more than they were before. This is exogenous to the intrinsic value of gold which has increased.

Gold value is now independent of currency value. Gold has not been pegged to the USD since 1977. Gold does not dictate exchange rates any more as currencies are not valued on the amount of reserves a country has for it.

Gold is valued by fiat money which is an valuation system independent of external factors. Of course this valuation is done on the discretion of governments but the point is that Gold is now an independent variable.

Therefore, an increase in value of gold cannot be offset by any other factors except for a decrease in its own value.

Best,
-H
  • #315,459
  • Jun 1, 2012 6:49pm Jun 1, 2012 6:49pm
Gidday fellow net junkies

I just started trading this pair,carrying a short over the weekend.
I closed my long in profit,should have hedged over the weekend just in case.
The hard part is catching some of these big moves.I closed some positions to find they would have come back in to profit if I just held my ground.
I will get some control back next week,playing to the pipe piper off the markets only drains your account.

Good weekend everybody

For the traders who understand the markets keep posting as people like me enjoy reading how you came to your decisions
  • #315,460
  • Jun 1, 2012 10:51pm Jun 1, 2012 10:51pm
Quoting _BBKing_
hi fontu, how is there?
i have the very same levels with a different study on chart gold.
let's see if 1700 will give problems.
i think in short term will show some pressure.

time will tell
Thanks ok . here or below 1700 problems should come but now to watch if actually any come next week .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
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