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Cable Update (GBPUSD)

  • #315,841
  • Jun 8, 2012 5:34am Jun 8, 2012 5:34am
Quoting id5
I have been playing with the charts, one here that shows EURUSD, GBPUSD and XAUUSD all on the same chart. Seems to show gold leading the EUR and GBP.

http://img692.imageshack.us/img692/3038/eurgbpgold.png


I said nearly same thing last week but I was proved wrong by another member here he was wright as yesterday there was no correlation between Gold and GU especially on small TFS

my logic would be reversed anyway on EU and Gold as if EUR falls people should invest in gold so demand should raise so price as well....but it is not like this as I see
  • #315,842
  • Jun 8, 2012 5:36am Jun 8, 2012 5:36am
Quoting redbeben
chickened out on EU @ +25 pips
covered half on GU @ +8 pips
out from GU as well + 20 pips

I think I had enough for today

see you next week
  • #315,843
  • Jun 8, 2012 5:45am Jun 8, 2012 5:45am
Quoting _BBKing_
great broker!
i'm using it in demo for option trading! really one of best!
about the chart i totally agree! recently gold is leading the way. this could be due beacuse more sensitive on USD strenghtening/weakening.
infact i'm doing a very deep study in commodities. will post this weekend
The broker is definitely a good'un but the interface takes some getting used to especially one click trades, I seriously damaged my account a couple of times but that is what happens when you can only trade every so often do to work pressures. Hopefully I can build the account to a point where I can stop being a wage slave.

I agree with the sensitivity between gold and the USD. I think though that the correlation between EURUSD and GBPUSD needs to be broken at some stage, as money will flow from the EUR to GBP, USD and gold before the EUR goes down much further.
  • #315,844
  • Jun 8, 2012 5:49am Jun 8, 2012 5:49am
Quoting redbeben


I said nearly same thing last week but I was proved wrong by another member here he was wright as yesterday there was no correlation between Gold and GU especially on small TFS

my logic would be reversed anyway on EU and Gold as if EUR falls people should invest in gold so demand should raise so price as well....but it is not like this as I see
I will have to spend more time reasearching the correlation between the three, perhaps it is a red herring.

I am not sure that enough will initially invest in gold, I suspect that many will switch to USD or GBP and then only gold when GBP begins to fail if it gets that far.
  • #315,845
  • Jun 8, 2012 5:50am Jun 8, 2012 5:50am
@red
yes i agree with you. but what i mean is that as we see in that chart, gold moves up or down. then EU GU follows.
gold is very sensitive vs USD and can give a great sign of nearest moves in currencies.

of course, this is true when talking about h1 at least.
not to do in smaller tfs
90% of traders use TA, indicators and prediction
  • #315,846
  • Jun 8, 2012 5:52am Jun 8, 2012 5:52am
Quoting id5
The broker is definitely a good'un but the interface takes some getting used to especially one click trades, I seriously damaged my account a couple of times but that is what happens when you can only trade every so often do to work pressures. Hopefully I can build the account to a point where I can stop being a wage slave.

[color=black][font=Verdana]I agree with the sensitivity between gold and the USD. I think though that the correlation between EURUSD and GBPUSD needs to be broken at some stage, as...
sorry for that!
one click trade is dangerous in every platform!
once in a demo a wrongly clicked the button.
luckily was a demo!
i always disable the option also in my dukas there is but i immediatly disabled. sometimes my cat play with mouse. lol. would not be good to find the account burnt just because cat playing with mouse and opening 2-3 wrong trades
90% of traders use TA, indicators and prediction
  • #315,847
  • Jun 8, 2012 6:34am Jun 8, 2012 6:34am
ok i'm leaving.
morning done and having a busy afternoon.
good luck you all
see you next week
90% of traders use TA, indicators and prediction
  • #315,848
  • Jun 8, 2012 7:20am Jun 8, 2012 7:20am
normally it should work for most investors that could buy gold now nomatter the price...and just pile it and sit on it


''Precious Metals can preserve value through a crisis AND provide liquidity during a crisis:
Silver–“Poor Man’s Gold” but impractical for large sums.
Platinum –The bullion is not as readily available as gold.
Palladium –Somewhat esoteric.
GOLD –Always liquid, widely available, universally accepted, deepest markets, global pricing
Gold – 2,500-year unbroken track record of liquidity and “Safe Haven” performance.
Here is the FRBNY explaining why people own gold:

“For centuries, gold had a profound impact on history, as a symbol and a storehouse of wealth accepted universally around the world.“
“When people are worried about political instability, war or inflation, they often put their savings into gold.”
“Gold functions as a medium of exchange, particularly in areas where currencies are distrusted.”
Why the US government nationalized gold:

The 1933 prohibition against gold ownership “prevented hoarders from profiting after Congress devalued the dollar (in terms of gold)”by 41%.
ACCORDING TO THE NY FED –GOLD IS A “PHENOMENAL ASSET” AND AN “IMPORTANT STORE OF VALUE”
GOLD NATIONALIZATION OF 1933 PRECLUDED THE SAVERS FROM PROTECTING THE VALUE OF THEIR ASSETS
What else does the Fed tell us:

THE FED –WE STORE FOR OTHERS; OUR OWN IS OUTSIDE THE BANKS!
“As of early 2008, the Fed’s vault contained roughly 216 million troy ounces of gold“–“about 22 percent of the world’s official monetary gold reserves.”
“The United States owns approximately 27 percentof the monetary gold”–“262 million troy ounces as of 2007.”
“A majority of [the U.S.] reserves is held <…> at Fort Knox, Kentucky, and West Point, New York. Most of the remainder is at the Denver and Philadelphia Mints and the San Francisco Assay Office.”
WATCH WHAT THEY DO; NOT WHAT THEY SAY:
THE U.S. GOVERNMENT STORES ITS GOLD WITH THE MILITARY, NOT THE BANKS.
APPROXIMATELY 49% OF ALL MONETARY GOLD IS PHYSICALLY LOCATED ON THE U.S. SOIL.''
  • #315,849
  • Jun 8, 2012 8:33am Jun 8, 2012 8:33am
Sorry, which broker / package is this? Can't find any names in your posts.

Thanks

Quoting id5
I have been playing with the charts, one here that shows EURUSD, GBPUSD and XAUUSD all on the same chart. Seems to show gold leading the EUR and GBP.

http://img692.imageshack.us/img692/3038/eurgbpgold.png
  • #315,850
  • Jun 8, 2012 8:38am Jun 8, 2012 8:38am
Quoting trickie
Sorry, which broker / package is this? Can't find any names in your posts.

Thanks
www.saxobank.com
90% of traders use TA, indicators and prediction
  • #315,851
  • Jun 8, 2012 9:07am Jun 8, 2012 9:07am
Buy
Attached Image (click to enlarge)
Click to Enlarge Name: gbp h4.gif Size: 22 KB
  • #315,852
  • Jun 8, 2012 9:07am Jun 8, 2012 9:07am
damn...i am waiting strong 1.5405 will be broken...but it still there....so many touch and rejected, after i check fibo..it is 61.8 where 0 at 1597 based on Hourly chart....if it is broken the next target maybe will be 1.5375...next strong resistance....

let's see how strong the bear will be...EU, AU, GU facing the same strong resistance
  • #315,853
  • Jun 8, 2012 9:10am Jun 8, 2012 9:10am
Good day to you,

Back from trip - I see nothing changed...

I am still long bias here. But will look for the entry. Waiting on the side.

Regards
  • #315,854
  • Jun 8, 2012 9:10am Jun 8, 2012 9:10am
Im long 3 lots t/p (1.6, 1605, 1.61) of course there gonna get there eventually but i just hope i have enough margin p.s. (-100 oversold) on 4h %R indicator*
  • #315,855
  • Jun 8, 2012 9:13am Jun 8, 2012 9:13am
Quoting Red Alert
damn...i am waiting strong 1.5405 will be broken...but it still there....so many touch and rejected, after i check fibo..it is 61.8 where 0 at 1597 based on Hourly chart....if it is broken the next target maybe will be 1.5375...next strong resistance....

let's see how strong the bear will be...EU, AU, GU facing the same strong resistance
Good day to you,

It's the monthly open @ 1.54039 - reason for the support.

All the best

Regards
  • #315,856
  • Jun 8, 2012 9:15am Jun 8, 2012 9:15am
How many touch it need to broke?? :O
  • #315,857
  • Jun 8, 2012 9:24am Jun 8, 2012 9:24am
Quoting TauTrader
Good day to you,

It's the monthly open @ 1.54039 - reason for the support.

All the best

Regards
Hi TT, nice too see you, this Thank you for remind me...ow.....so we have double reason , do you short or long now mate...??
  • #315,858
  • Jun 8, 2012 9:25am Jun 8, 2012 9:25am
Quoting aarash
How many touch it need to broke?? :O
I don't know my friend....seeing from price action the pressure is very strong...it is only the matter of time....(just my opinion)
  • #315,859
  • Jun 8, 2012 9:27am Jun 8, 2012 9:27am
Quoting Red Alert
Hi TT, nice too see you, this Thank you for remind me...ow.....so we have double reason , do you short or long now mate...??
Good day,

No trade at present. Did well yesterday - took 29 pip loss this morning. Want to long - but will wait. I want them to finish squeezing.

So - probably only Monday entry for me.

All the best
  • #315,860
  • Jun 8, 2012 9:32am Jun 8, 2012 9:32am
Quoting Red Alert
I don't know my friend....seeing from price action the pressure is very strong...it is only the matter of time....(just my opinion)
Yes,

Again another touch and failed!
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