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Cable Update (GBPUSD)

  • #324,341
  • Sep 15, 2012 7:32am Sep 15, 2012 7:32am
Quoting nAVIN2007
qe basically places more money in circulation..the effect is it worth less..usd index sold off..so anything against it would have made money..the ranges on cable have reduced big time..when i first entered the trade average day was giving a minimium of 160 pips sometimes 300 pips in a day..market has changed a lot

i will do some analysis b4 market open..
http://www.forexticket.us/en/tools/02-01-volatility
  • #324,342
  • Sep 15, 2012 6:10pm Sep 15, 2012 6:10pm
Hmm, I sold GBPUSD @ 1.6225 with a stop-loss @ 1.6269. Now i see about the QE3 announced on Saturday by b.bernanke on TV. I hope I can close it before my stop-loss when the weekend opens. I hope it does not open Monday with a big gap up... or im doomed on this trade.
To Your Success!!
  • #324,343
  • Sep 15, 2012 9:22pm Sep 15, 2012 9:22pm
Quoting ndsouz
Hmm, I sold GBPUSD @ 1.6225 with a stop-loss @ 1.6269. Now i see about the QE3 announced on Saturday by b.bernanke on TV. I hope I can close it before my stop-loss when the weekend opens. I hope it does not open Monday with a big gap up... or im doomed on this trade.

I share your pain ...I'm also short @1.6230. I'm a spartan trader holding firm. If price break the Channel on the upside 1.6255 area then.....trend may continue upwards. Prepare for glory if price continue downwards to 1.5602 on-wards.

bulls vs bears who will win...So many signs of overbought. Lets see what happens.
Impossible = 0
  • #324,344
  • Sep 15, 2012 9:38pm Sep 15, 2012 9:38pm
Quoting ndsouz
Hmm, I sold GBPUSD @ 1.6225 with a stop-loss @ 1.6269. Now i see about the QE3 announced on Saturday by b.bernanke on TV. I hope I can close it before my stop-loss when the weekend opens. I hope it does not open Monday with a big gap up... or im doomed on this trade.
not only are you blind, you are blind to your blindness

go with the flow

It takes a lot for me to IGNORE you, but you can try.
  • #324,345
  • Sep 15, 2012 10:29pm Sep 15, 2012 10:29pm
Quoting bbwoy
I share your pain ...I'm also short @1.6230. I'm a spartan trader holding firm. If price break the Channel on the upside 1.6255 area then.....trend may continue upwards. Prepare for glory if price continue downwards to 1.5602 on-wards.

bulls vs bears who will win...So many signs of overbought. Lets see what happens.
oww not that much expectations, but just a tad below 1.61xx or 1.6080 are is enough for me.
To Your Success!!
  • #324,346
  • Sep 15, 2012 10:30pm Sep 15, 2012 10:30pm
Quoting Erebus
not only are you blind, you are blind to your blindness

go with the flow

i like you sig.

Actually i was too tired to attend to the trade, so i fell asleep. By the time the market was closed, so i am stuck. Usually never keep trades over the weekend.
To Your Success!!
  • #324,347
  • Edited 9:23am Sep 16, 2012 12:28am | Edited 9:23am
Richmond Fed President Lacker Comments on FOMC Dissent

sooooooo QE ..........

Is right policy on the wrong time ? or wrong policy on the right time ?


================================
European Bank Overhaul Meets Opposition From Finance Ministers

A plan by the European Union to overhaul bank supervision and help troubled lenders directly ran into a wall of opposition on Saturday as finance ministers from major nations like Germany, Poland and Sweden raised objections.


================================

German economic growth is likely to be muted next year, German government economic adviser Lars Feld says

not euphoria follower
  • #324,348
  • Sep 16, 2012 8:36am Sep 16, 2012 8:36am
Cable trading higher on Bernanke stimulus and Eurozone borrowing costs lowering.
  • #324,349
  • Sep 16, 2012 9:28am Sep 16, 2012 9:28am
i see nothing solid to sell on cable

might have to wait a bit..
  • #324,350
  • Sep 16, 2012 10:04am Sep 16, 2012 10:04am
In the previous week's trade preview on GBPUSD, i already mention the possibility of GBPUSD re-testing the resistance zone of 1.6300. See link below.

http://www.forexmindgames.com/2012/0...ws-part-2.html

The high for last week was set on Friday at 1.6250, about 50pips from the mentioned 1.6300 resistance zone. How was i able to call it in advance where GBPUSD is going to go? It took me about 3 years to learn this skill. I am not 100% accurate. But i am slowly improving. Trading is about understanding where price wants to go.

Let me illustrate. Imagine i have 3 children. After observing my 3 children for many years, i can make a rather excellent educated guess to how each of my 3 children will behave in certain situations. Lets say i bring to them to a zoo and the children saw a snake. Based on my past observations and my understanding of the temperament of each child, i know how each one will react to the snake. Child A got bitten by a snake before, and he will run away from one. Child B is more adventurous, he is not afraid of snakes and will stroke it. Child C is more cautious, he will hide behind my legs until he is sure the snake is friendly before touching it.

Now imagine Child A is EURUSD. Child B is GBPUSD. Child C is AUDUSD. After watching their behaviors and movements for many years, i had develop an intuitive feel for what they are going to do and where they are going to go. Train your mind to discern the movements of each currency pair you like to trade. For me, USDCAD is sort of a wild child. I have little success predicting its movements. As such, i tend to stay away from trading USDCAD.

The idea is this. Find currency pairs which you can predict the movements with reasonable ease and accuracy. And avoid those pairs where you just cannot make heads and tails of.

http://i50.tinypic.com/1zfrm8w.png

Short GBPUSD near 1.6300-30
Stop loss above 1.6350
First target profit 1.6000
  • #324,351
  • Sep 16, 2012 10:12am Sep 16, 2012 10:12am
oil

http://www.forexfactory.com/attachme...0&d=1347808126
not euphoria follower
  • #324,352
  • Sep 16, 2012 11:02am Sep 16, 2012 11:02am
cant wait till market open, this will be my 1st Week trading a diffrent curreny il be trading GBP/NZD
  • #324,353
  • Sep 16, 2012 11:24am Sep 16, 2012 11:24am
Quoting iqyu5an
oil

http://www.forexfactory.com/attachme...0&d=1347808126
week should end in dowtrend base on PA
  • #324,354
  • Sep 16, 2012 12:53pm Sep 16, 2012 12:53pm
Quoting PoundTrader
cant wait till market open, this will be my 1st Week trading a diffrent curreny il be trading GBP/NZD
- Why the change?
  • #324,355
  • Sep 16, 2012 1:56pm Sep 16, 2012 1:56pm
Has anyone noticed that GBP/USD on daily looks like an exponential function? lol
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdcirc.gif Size: 16 KB
  • #324,356
  • Sep 16, 2012 3:12pm Sep 16, 2012 3:12pm
Quoting ndsouz
Hmm, I sold GBPUSD @ 1.6225 with a stop-loss @ 1.6269. Now i see about the QE3 announced on Saturday by b.bernanke on TV. I hope I can close it before my stop-loss when the weekend opens. I hope it does not open Monday with a big gap up... or im doomed on this trade.
Cross Your fingers , and hope 4hr demand fails ..If there's a bounce and a retest of supply, then we could have the 8 hr Supply absorbed and a Target line (top of 8hr supply line )..
Attached Image (click to enlarge)
Click to Enlarge Name: targets2.gif Size: 20 KB
  • #324,357
  • Sep 16, 2012 3:20pm Sep 16, 2012 3:20pm
http://www.ritholtz.com/blog/2012/09...Big+Picture%29

D
  • #324,358
  • Sep 16, 2012 3:25pm Sep 16, 2012 3:25pm
I opened my weekly chart this morning and saw THIS
What the F..K???????
QE really IS messing with the markets
Attached Image (click to enlarge)
Click to Enlarge Name: christmas trade258if.gif Size: 16 KB
Come with me if you want to live....
  • #324,359
  • Sep 16, 2012 3:38pm Sep 16, 2012 3:38pm
Quoting PoundTrader
cant wait till market open, this will be my 1st Week trading a diffrent curreny il be trading GBP/NZD
Well, if your weekly bar chart looks anything like my brokers F..ked up set up, I'm not surprised you changed pairs.

I'm thinking of chnging myself LOL...

I would really like to know what the hell happened over the weekend to produce the extra bar and the messed up sequence
Come with me if you want to live....
  • #324,360
  • Sep 16, 2012 7:22pm Sep 16, 2012 7:22pm
Quoting Ziko9o8
- Why the change?
more volatility
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