The Market pays you to be disciplined
Cable Update (GBPUSD)
- #354,241
- Nov 25, 2013 11:42am Nov 25, 2013 11:42am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
- #354,242
- Nov 25, 2013 11:45am Nov 25, 2013 11:45am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
Services PMI Actual Consensus Previous11-05-2013 (Oct) 62.5 59.8 60.3 10-03-2013 (Sep) 60.3 60.0 60.5 09-04-2013 (Aug) 60.5 59.0 60.2 08-05-2013 (Jul) 60.2 57.2 56.9 notice July , August, Sep were massive beats in Services PMI.. this was quarter three for which GDP will be reported on Wednesday and services is 75% of GDP.. pls do the maths!
it might be bullish but it fighting USD strength..it may come in high simply so it doesnt drop like a stone
also u are talking about a session where POUND is always high but the main move for the year has been down not up!!
- #354,243
- Nov 25, 2013 11:45am Nov 25, 2013 11:45am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #354,244
- Nov 25, 2013 11:46am Nov 25, 2013 11:46am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} what instrument is that ?
USDLFX (USD Index) = SQR ((USDCHF * USDJPY) / (GBPUSD * EURUSD))
GBPLFX (Cable Index) = GBPUSD * USDLFX
EURLFX (Euro Index) = EURUSD * USDLFX
You can get the charts and data feed in an MT4 demo account from LiteForex > http://www.liteforex.com/downloads/mt4/
Those who say it cannot be done should not interrupt those who are doing it
- #354,246
- Nov 25, 2013 11:53am Nov 25, 2013 11:53am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} okies brother. if ur happy news makes charts, charts don't make news!
news make the movement in the chart but a trader follows the charts not the news
this is where many simply get confused and end up killed..
we go with the MOMENTUM
- #354,247
- Nov 25, 2013 11:54am Nov 25, 2013 11:54am
- Joined Jan 2010 | Status: Trader | 10,268 Posts
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return:
0.7%
- #354,248
- Nov 25, 2013 11:55am Nov 25, 2013 11:55am
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} sorry bro, you got it wrong. Charts shows the demand and supply of the market, so chart makes charts... News are just the catalysts to get the market moving.... Dont get mistakened... The whole 2008 stock market collapse in the us stock market like nasdaq s&p and dow, happeed to be a huge divergence in play... Heck it was a cyclical divergence where some analysts have hinted at it... And news of lehman bro default was the tipping point.
thanks god u got it:d
- #354,249
- Nov 25, 2013 11:56am Nov 25, 2013 11:56am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} news make the movement in the chart but a trader follows the charts not the news
However, I have to contend that mid to long term, the cumulative effect of good macro data does influence price. The problem we are all faced with in Forex, is that with every position we take, we are trading two currencies and not just one. So if Cable gets a boost from good macros, you would really only go long if the US takes a beating at the same time.
Those who say it cannot be done should not interrupt those who are doing it
- #354,250
- Nov 25, 2013 11:56am Nov 25, 2013 11:56am
- | Membership Revoked | Joined May 2013 | 7,946 Posts
ignore wackos and psychos, including myself. But I can't add myself to iggy
- #354,251
- Nov 25, 2013 11:58am Nov 25, 2013 11:58am
- Joined Aug 2008 | Status: Persist Until Something Happens | 17,898 Posts
{quote} sorry bro, you got it wrong. Charts shows the demand and supply of the market, so chart makes charts... news are just the catalysts to get the market moving.... dont get mistakened... the whole 2008 stock market collapse in the US stock market like Nasdaq S&P and DOW, happeed to be a HUGE divergence in play... heck it was a cyclical divergence where some analysts have hinted at it... and news of lehman bro default was the tipping point.
Those who say it cannot be done should not interrupt those who are doing it
- #354,252
- Nov 25, 2013 11:59am Nov 25, 2013 11:59am
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #354,253
- Nov 25, 2013 12:01pm Nov 25, 2013 12:01pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
{quote} Well if news made charts, the Euro would be at parity by now. However, I have to contend that mid to long term, the cumulative effect of good macro data does influence price. The problem we are all faced with in Forex, is that with every position we take, we are trading two currencies and not just one. So if Cable gets a boost from good macros, you would really only go long if the US takes a beating at the same time.
all i know is and honestly im not boosting my success rate is well about 90-94% im hardly wrong and i only look at chart i dont look at the news but i have found news is something i cant ignore lately since the news seems to be driving the force behind the movement..but that is only lately
as far as im concerned it all in the chart tony would say the same as in term of trading edge its practically identical
edit:- this trade is a big test for me..if it works out ..im ready to make money!
- #354,254
- Nov 25, 2013 12:01pm Nov 25, 2013 12:01pm
- | Membership Revoked | Joined May 2013 | 7,946 Posts
ignore wackos and psychos, including myself. But I can't add myself to iggy
- #354,256
- Nov 25, 2013 12:07pm Nov 25, 2013 12:07pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts
- #354,258
- Nov 25, 2013 12:13pm Nov 25, 2013 12:13pm
- | Membership Revoked | Joined May 2013 | 7,946 Posts
ignore wackos and psychos, including myself. But I can't add myself to iggy
- #354,260
- Nov 25, 2013 12:16pm Nov 25, 2013 12:16pm
- Joined Dec 2007 | Status: mac daddy junior :) | 20,899 Posts