In my humble opinion, we're seeing the "retracement" right now. Dollar bulls beware.
Ghost Rider - WWTBMD?
Cable Update (GBPUSD)
- #377,061
- May 9, 2014 5:27pm May 9, 2014 5:27pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #377,062
- May 9, 2014 5:30pm May 9, 2014 5:30pm
In my humble opinion, we're seeing the "retracement" right now. Dollar bulls beware.
Do you think it is going to go a litlle bit higher on monday, or do you think it will just go down from now on?
- #377,063
- May 9, 2014 5:47pm May 9, 2014 5:47pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
{quote} I'm sorry Albchr, but I don't get you
As to how far it will drop before that leg up, my "personal" buying zones I'm looking at are 6800/20 to a possible 6750/80. Beyond that and "maybe" the bears have control. Again it's just my view "as of now". Just like the market, my view can change in a day if the market shows me why it should. So far, I don't see that change in the "big picture".
When I say "Dollar bulls beware" it's only because of what I see going on in reality around me for the past 20 or more years. Like when cable was trading at the 4400/4800 levels and many were screaming 3500. I kept saying I don't have that kind of faith in the dollar. Will that repeat? I don't know but I still lack faith in the dollar. Perhaps even more so now.
That fib exercise HDA took us through should be telling at least. All 4 of those fibs line up at 6820 (within a few pips) and given the facts he gave us, should at least give us pause to think about it. Will this be the "classic cable tank"? I don't know but personally, based on the charts, I don't think so. Not yet.
Ghost Rider - WWTBMD?
- #377,064
- May 9, 2014 5:50pm May 9, 2014 5:50pm
{quote} I can't speak to a "specific day" Carlicus. I believe this drop is a retracement of the longer overall bull trend. I think we'll see at least one more leg up to the 7000/7100ish area before seeing if it's over, or continues. As to how far it will drop before that leg up, my "personal" buying zones I'm looking at are 6800/20 to a possible 6750/80. Beyond that and "maybe" the bears have control. Again it's just my view "as of now". Just like the market, my view can change in a day if the market shows me why it should. So far, I don't see that...
- #377,065
- May 9, 2014 5:59pm May 9, 2014 5:59pm
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Pip Anon wrote a nice little reply in this news article below. He also provided a nice You tube link about Peter Schiff and what he was saying in 2005, 2006 and 2007 right before the 2008 crash. Like him, many of us who were saying the same things were literally laughed at and viewed as conspiracy theorists. Well, history has a way of telling the truth nobody can deny. Is he, Marc Faber and folks like Pip Anon, me and others right about the dollar and the US economy now? I won't say but I will advise caution and paying attention to facts (the reality that surrounds us) and not news generated fairy tales.
Anyway, thought you all might be interested.
http://www.forexfactory.com/news.php...89#post7460608
Anyway, thought you all might be interested.
http://www.forexfactory.com/news.php...89#post7460608
Ghost Rider - WWTBMD?
- #377,069
- May 10, 2014 12:36am May 10, 2014 12:36am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
- #377,072
- May 10, 2014 1:43am May 10, 2014 1:43am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
{quote} Great call!!
- #377,073
- May 10, 2014 1:44am May 10, 2014 1:44am
- | Commercial User | Joined Jan 2011 | 4,044 Posts
Gidday Traders GBP/US Held my exploding longs an watched them deflate thinking minor retrace Yeah chased EUR/US down thinking be carefull this will spike back up again The big players decided it was a good time to give the peasants a crash course in money management. You can just see them laughing there asses off.
- #377,078
- May 10, 2014 6:43am May 10, 2014 6:43am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #377,079
- May 10, 2014 6:49am May 10, 2014 6:49am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?
- #377,080
- May 10, 2014 7:03am May 10, 2014 7:03am
- Joined Mar 2009 | Status: Trader | 25,480 Posts
Ghost Rider - WWTBMD?