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Cable Update (GBPUSD)

  • #328,381
  • Oct 26, 2012 4:04am Oct 26, 2012 4:04am
Quoting bbmac
unless good U.s Gdp # signals Risk On and thee market buys the 'riskier' assets like gbp ?

G/L

looking at the usdlfx..i think positive figures are likely..im one of those wannabe traders that believe its all in the charts..

hope your well tom?

edit:- i do think thou this flag is concerning..lol
  • #328,382
  • Oct 26, 2012 4:08am Oct 26, 2012 4:08am
Quoting nAVIN2007
looking at the usdlfx..i think positive figures are likely..im one of those wannabe traders that believe its all in the charts..

hope your well tom?

hey wannabe trader... the question is.. why didn't you close one of your 25 shorts when god blessed you with 2 figures and half down... beware of that trendline u pointed that conect the 4 max. A trendline is not broken, till it's not, and a flag is not triggered till its not... but.. when it does... IT DOES!
I don't want a job, i want money!
  • #328,383
  • Oct 26, 2012 4:10am Oct 26, 2012 4:10am
Quoting dario1002
hey wannabe trader... the question is.. why didn't you close one of your 25 shorts when god blessed you with 2 figures and half down... beware of that trendline u pointed that conect the 4 max. A trendline is not broken, till it's not, and a flag is not triggered till its not... but.. when it does... IT DOES!

i have a feeling we are close to a top..so this is a trade im building towards my actual target of 1.5..im a swing trader..i cant scalp..i dont have the nerve for it..im also looking to increase my risk exposure..its just one of those blasted trades..lol

the trendline for me are just gauge to tell me where the mofo is heading..most are just projections
  • #328,384
  • Oct 26, 2012 4:15am Oct 26, 2012 4:15am
Quoting smikester
Many thanks for your views. You now have me doing half a day of research to fully understand them, which, I suppose, won't do me any harm. This tone of uncertainty is reflected in the price between 2011 and 2012 and I am still reading conflicting views, one of which posed the possibility of 75 again before 85. This would back up the simple technical analyses of equity indexes. By the way, everyone, sorry for being off topic.
Cheers mate.

They just made the announcement. They'll be downgrading their economic assessment at the next BOJ meeting and increase asset purchases.

75 before 85 would be lovely.

Quoting Snooze
You Short USDJPY or long? You holding your trade since 2009?
I'm still short. (as long as the Monthly descending trendline is respected)

I've built the position over time so it's performing nicely. My Yen trade is structured a bit differently than my higher leveraged day trades. I don't use any charts under the daily, and do a form of hedging by moving profits off on the lows which I trade long in a separate account (which I then use to increase my stake for each leg down on the short). Since the accounts are with the same broker, it's pretty easy to shuffle the money back and forth. What's funny is I started it as a risk hedge, but it turned out to be more profitable than I thought it would be.

Anyway, my apologies for being off topic as well.

It's Friday evening here so I'm off for the week. I hope everyone has a great weekend.
  • #328,385
  • Oct 26, 2012 4:19am Oct 26, 2012 4:19am
Quoting nAVIN2007
i have a feeling we are close to a top..so this is a trade im building towards my actual target of 1.5..im a swing trader..i cant scalp..i dont have the nerve for it..im also looking to increase my risk exposure..its just one of those blasted trades..lol

the trendline for me are just gauge to tell me where the mofo is heading..most are just projections

man... that is for sure... but swing traders are heading for 1-2 (3 and you are really blessed) figures... u are institutional if u go for 10 ...
I don't want a job, i want money!
  • #328,386
  • Oct 26, 2012 4:22am Oct 26, 2012 4:22am
Hi

i wanted to put a short at 1.6140 yesterday was afraid to as i am still new. Now today i am thinking it is unlikely to break that resistance and it would probably not hit 1.6140 as well. So i am thinking 1.6135 is the max it would hit.

What do you guys think

Sorry i dun know how to paste image on this. Therefore i have an attachment
Attached File(s)
File Type: xlsx FX Chart.xlsx   68 KB | 154 downloads
  • #328,387
  • Edited 4:44am Oct 26, 2012 4:29am | Edited 4:44am
Hi i dun know if this is clearer picture.

Somebody please do let me know how to jus paste a pic on my thread instead of attachment. As there seem to have a max attachement limit.

Thanks
Attached File(s)
File Type: xlsx FX Chart.xlsx   73 KB | 164 downloads
  • #328,388
  • Oct 26, 2012 4:33am Oct 26, 2012 4:33am
Quoting dario1002
man... that is for sure... but swing traders are heading for 1-2 (3 and you are really blessed) figures... u are institutional if u go for 10 ...
i have high standards..lets see what happens
  • #328,389
  • Oct 26, 2012 4:40am Oct 26, 2012 4:40am
i have short @ 1.6111
  • #328,390
  • Oct 26, 2012 4:40am Oct 26, 2012 4:40am
Time will tell whether the 4hr potential bull flag and 1hr hidden divergence is true ?

G/L
Attached Image(s) (click to enlarge)
Click to Enlarge Name: z.jpg Size: 41 KB
Click to Enlarge Name: z1.jpg Size: 87 KB
ex member
  • #328,391
  • Oct 26, 2012 4:43am Oct 26, 2012 4:43am
MAN... this market is slow today...
I don't want a job, i want money!
  • #328,392
  • Oct 26, 2012 4:47am Oct 26, 2012 4:47am
Quoting bbmac
Time will tell whether the 4hr potential bull flag and 1hr hidden divergence is true ?

G/L
I think it is. Have since yesterday and don't see anything to change my view (yet).

But then, I'm getting ready for a whopper storm so not watching too closely. Good luck all
Ghost Rider - WWTBMD?
  • #328,393
  • Oct 26, 2012 5:09am Oct 26, 2012 5:09am
Quoting Fudomyo
Cheers mate.

They just made the announcement. They'll be downgrading their economic assessment at the next BOJ meeting and increase asset purchases.

75 before 85 would be lovely.



I'm still short. (as long as the Monthly descending trendline is respected)

I've built the position over time so it's performing nicely. My Yen trade is structured a bit differently than my higher leveraged day trades. I don't use any charts under the daily, and do a form of hedging by moving profits off on the lows which I trade long in a separate...
Wow, Shorted since 2009. You have bag 1000 pips or more by now. You really have the patience. Guess u expect USDJPY to proceed further south. Good luck! Have a Nice weekend!
  • #328,394
  • Oct 26, 2012 5:15am Oct 26, 2012 5:15am
Does anyone have any thoughts on what the US elections means for the $. Do you guys share the view that the $ will generally strengthen as investors go risk-off in the days before the elections?
  • #328,395
  • Oct 26, 2012 5:23am Oct 26, 2012 5:23am
Quoting mauriceblue
Does anyone have any thoughts on what the US elections means for the $. Do you guys share the view that the $ will generally strengthen as investors go risk-off in the days before the elections?

it actually makes no difference or i should say cause conflict, trade what u see..u could say because of elections..US shares need to be stronger not weaker, so dollar index may have to be weak to provide the share boost..but the charts tell me the opposite..

trade what u see not what u think..bottom line
  • #328,396
  • Oct 26, 2012 5:29am Oct 26, 2012 5:29am
i am expecting one more spike up, if any; to add short
Learning Requires Failure
  • #328,397
  • Oct 26, 2012 5:33am Oct 26, 2012 5:33am
Thanks Nav. I see gpbusd lower by the end of the day and will be selling any pull backs. Can't see this pair above yesterdays high.
  • #328,398
  • Oct 26, 2012 5:40am Oct 26, 2012 5:40am
Nav's advice is good - 'trade what you see - not what you think ' What if price just keeps going up - and you are selling every top instead of buying the pullbacks - just beacuse you ahve a 'view' that price will be lower at eod. Personally i have no idea what the next tick will be let alone where it will be in 1min, 5min, 1hr, 4hr or eod - absolutely none - so beacuse of this _ I don't make assumptions or take a view - I just trade what I see regardless of what direction it is going and i am happy that i am clueless as to be being able to predict/take a view as to what that will be over any given time horizon from 1tick to 1day and beyond.

G/L.

Quoting mauriceblue
Thanks Nav. I see gpbusd lower by the end of the day and will be selling any pull backs. Can't see this pair above yesterdays high.
ex member
  • #328,399
  • Oct 26, 2012 5:48am Oct 26, 2012 5:48am
Hi All

cable need to break 1.6094 to fall otherwise it will go up
  • #328,400
  • Oct 26, 2012 5:50am Oct 26, 2012 5:50am
Oh my god dumb f**ks on the AUDUSD thread think the us federal reserve is there to fix the us economy for the good....
They are THAT dumb....
We live in a finite world with infinite possibilities.
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