Not understand?better not follow my analyses!doubt clearer first, risks ++
Cable Update (GBPUSD)
- #317,201
- Jun 22, 2012 12:24pm Jun 22, 2012 12:24pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
- #317,202
- Jun 22, 2012 12:45pm Jun 22, 2012 12:45pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
too late on that ,already bought there and not gonna touch it anymore.
I have decided that GOLD is the hardest thing to trade.
why ?
well.....al the shmucks trade it.if you pick one dude from the street and ask him what he would trade he would say ''oil and gold coz the profit is big''
so...being traded by so many non-traders that have no idea of trendlines nor clouds nor S and R it is unpredictable ....I guess....
one opens the newspaper and reads font 22-The only safeheaven gold ....so he buys....then he dumps it coz he needs...
it's the same thing with EURO: you listen to the radio-tv-newspapers, seems like eu is going to 0.5 next week and meanwhile europeans will not have money to buy bread and water. then you open charts on sunday evening and find the stupid euro up 150 pips since friday closing price.
at least in gold when it takes a direction in daily, it respects for more than 2 days.
recently currencies are bouncing up-down and they will keep doing until things will calm down. some more 2 week IMO. just in time to give another slap. not enough buyers to go down. market must trap in some more...look UJ move recently... down down down down down .... up.... sideway... then BOOM, down to lower levels again, but not a double bottom. hell no... would be too easy!! they clicked buttons in the middle and BOOM again, this time up without looking back even 30 damn pips.
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- #317,204
- Jun 22, 2012 2:26pm Jun 22, 2012 2:26pm
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Hi guys. I am new here. I have been reading your posts for awhile and found them very useful particular BBking and Navin.
What do you think next week opening would look like? I believe there will be a gap.
Cheers and have a good weekend all.
if you don't have a trade don't open one now
next week will start Thursday the EU summit....summit where it is supposed to be decided wether EFSF will buy Spanish and Italian bonds.....meaning market will rally ahead of that and price the market just in case they say YES.
Look at the charts from yesterday before Moody's downgrades.Market already priced itself ahead of the downgrades just to be sure they get a chunk of the profit.
Same thing might happen to EU next Monday and Tuesday and Wednesday....just to get a piece of pie.
Maybe it's gonna be a buy the rumour sell the fact scenario and Thursday EU will say no bond buyng yet and market will plounge....but we never know as maybe it will continue to rally to 1.5900 area and above ....as I dream
So,my advice,never open a trade Friday unless you scalp or never leave a trade with no SL during weekend in this efervescent market
- #317,206
- Jun 22, 2012 3:05pm Jun 22, 2012 3:05pm
if you don't have a trade don't open one now
next week will start Thursday the EU summit....summit where it is supposed to be decided wether EFSF will buy Spanish and Italian bonds.....meaning market will rally ahead of that and price the market just in case they say YES.
Look at the charts from yesterday before Moody's downgrades.Market already priced itself ahead of the downgrades just to be sure they get a chunk of the profit.
Same thing might happen to EU next Monday and Tuesday and Wednesday....just to get a piece of pie.
Maybe...
- #317,209
- Jun 23, 2012 1:23pm Jun 23, 2012 1:23pm
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Last week GBP/USD retraced over 200 pips. GBP looks bullish technically and is holding well over 1.5555.
On Fibonacci lines between 1.5260-1.5780, GBP/USD retraced back to 61.8 level i.e 1.5580, next possible level is 50 level which is 1.5522, where there is strong support.
If market opens above 1.56 resistance level then GBP/USD will be bullish, if it retrace back to 1.5522 level then i will add another lot to my long position from 1.5660.
My overall views are bullish on GBP/USD. I will close my long positions if it dips below phycholigical...
interesting view but I just have to comment here
the fibo's you traced are the other way around.GU retraced to the 38.2 not 61.8 here is a guide on how to use fibo's
http://www.swing-trade-stocks.com/fi...racements.html
I'll post some charts with examples for you to fully understand how to use it
don't get me wrong...the price is still the same as you stated it is just diff numbers of fibo.
- #317,210
- Jun 23, 2012 4:16pm Jun 23, 2012 4:16pm
- Joined Jul 2007 | Status: Trader | 5,392 Posts
ex member
- #317,211
- Jun 23, 2012 5:18pm Jun 23, 2012 5:18pm
hi there Niranj,
interesting view but I just have to comment here
here is a guide on how to use fibo's
http://www.swing-trade-stocks.com/fi...racements.html
I'll post some charts with examples for you to fully understand how to use it
don't get me wrong...the price is still the same as you stated it is just diff numbers of fibo.
Thanks a lot. i Really appreciate your help and advice. I have updated the and edited the changes you suggested. I would welcome your suggestions and opinion. I have been through the link you posted and was really very useful. What other indicators your recommend to use and please send me the link if you suggest reading about any of the indicators.
- #317,212
- Jun 23, 2012 9:32pm Jun 23, 2012 9:32pm
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
http://www.forexfactory.com/attachme...1&d=1340428499
kinjun set ( blue ) : flat >>> equilibrium and below kumo hmmmmmmmmmmmmmm
spot on ....
not euphoria follower
- #317,216
- Jun 24, 2012 4:15pm Jun 24, 2012 4:15pm
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower
- #317,217
- Jun 24, 2012 5:05pm Jun 24, 2012 5:05pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
ehhehe
too easy if price goes down.
imo will go up. interbank low 5545. just at deman area.
jokes a part... have a good week you all
too easy if price goes down.
imo will go up. interbank low 5545. just at deman area.
jokes a part... have a good week you all
90% of traders use TA, indicators and prediction
- #317,219
- Jun 24, 2012 5:46pm Jun 24, 2012 5:46pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Come with me if you want to live....
- #317,220
- Jun 24, 2012 5:50pm Jun 24, 2012 5:50pm
- Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts
not euphoria follower