Discuss the GBP/USD with a DailyFX Analyst - Page 312 - DailyFX Forex Forum

lovelyforex · #**4666** (**permalink**) 07-31-2008, 09:52 PM

Quote:

Originally Posted by pubber

Well looks as if Lovely has a good follower. Just remember we all have our own styles of trading and wish to trade by that. If Lovely is 100% correct all of the time as you state then, well, even I would be a follower........

lol i am not good here..i just shorterm player whithout lost and cut lost..clean statment with playsafe method.But reminder...below 1.9700 must be reach.wait and see

Krismitt · #**4667** (**permalink**) 07-31-2008, 10:13 PM

Does anyone here trade the Cash Cow Strategy by Avi?

tacamonchi · #**4668** (**permalink**) 07-31-2008, 10:20 PM

Quote:

Originally Posted by Krismitt

I would agree Tacamonchi.What are your current positions?

Closed last night my two short positions of 9914 at 9815/20. As mentioned closed the short 9835 triggered early am, for a few pips. Now have waiting entry order for 9840 short- will be gone when london opens so hope it gets triggered. Then will wait for NFP news to wait for best level to go short- 9930 perhaps?

Krismitt · #**4669** (**permalink**) 07-31-2008, 10:20 PM

Quote:

Originally Posted by lovelyforex

lol i am not good here..i just shorterm player whithout lost and cut lost..clean statment with playsafe method.But reminder...below 1.9700 must be reach.wait and see

When do you expect Cable to go below 1.9700 Lovely, and what indicators are you looking at?

roadie · #**4670** (**permalink**) 07-31-2008, 11:12 PM

Hi All - i'd like the opinion of Cmellon et al - i know the NFP is out in a few hours but looking at the dailys i see a bullish pattern for GBP short term, i's draw a graph but i've no idea how. I know it's pretty much at the mercy of the call from the NFP but i'd like to know your opinions any way (i'm not going to trade it as i'm too green - just checking my opinions against the more experienced amoung you)

Many Thanks all

roadie · #**4671** (**permalink**) 07-31-2008, 11:15 PM

Also my plotting shows up to 199.60 - (please everyone don't use my advise i am probably the least sucsessful trader i know) more due to stupid mistakes and than wrong direction calls thou?!?

JimboFX · #**4672** (**permalink**) 07-31-2008, 11:44 PM

Quote:

Originally Posted by djindyfx

Jumbo,, I noticed the, what appear to be, averages on the left hand side of your chart? Do you actually use those to base your trades or are they there just to make your charts pretty?

Do you have a link where you got the source code or did you code it yourself?

You know, I found that indicator a long time ago and it's been on my charts ever since. I find it useful as it's always good to know what the avarage is for the day /week /month and where the price is at at that moment.

Anyways someone else asked me as well and I posted it on EW thread. Here is the link :

http://www.learncurrencytrading.com/...-post9784.html

Regards

Vince · #**4673** (**permalink**) 08-01-2008, 01:25 AM

Dear Client:

Congratulations—your account will be switched to FXCM Micro on Sunday August 3. Within a week, you will be taking advantage of lower spreads from FXCM!

I have just recieved an email from FXCM the above text was the opening sentence anybody else recieved such an email?

cmellon · #**4674** (**permalink**) 08-01-2008, 02:32 AM

Hi everyone,

I will buy GBP as a HEDGE to my last night's short 1.9914

The price I will buy is 1.9705 if it ever go there before NFP (but maybe will not reach this before NFP). I will release my long hedge when price bounces up and keep my original short from now on all the way to 1.94-1.95. This plan of mine is only valid before NFP at 8.30 PM EST. I will clear this plan if price doesn't meet my buy price before NFP.

Good luck everyone.

2live4 · #**4675** (**permalink**) 08-01-2008, 03:10 AM

Hi Everybody,

I am a new member of this Forum and been reading lots of GREAT opinions or inputs and learn a lot from most of you. Still a newbie in the trading...so I might ask 'silly questions' down the line.

Hey Cmellon, I still could not figure it out the PM link 'thingy' - where is it exactly?

djindyfx · #**4676** (**permalink**) 08-01-2008, 05:53 AM

Quote:

Originally Posted by JimboFX

You know, I found that indicator a long time ago and it's been on my charts ever since. I find it useful as it's always good to know what the avarage is for the day /week /month and where the price is at at that moment.
Anyways someone else asked me as well and I posted it on EW thread. Here is the link :
http://www.learncurrencytrading.com/...-post9784.html
Regards

Thank you Jimbo!.. I have been looking for some code that I can use to post on my chart the price points for my Donchain Channels. I should be able to use that same code to post the Daily / Weekly / Monthly Open price on my price chart as well. I have attached another view of what happened with that 150 +/- move yesterday.. Resistance was met at 2 points.
Daily open price from 7/29(Blue Line) and the weekly open from 7/28(Red Line). Just another view of Lower highs being made.

djindyfx · #**4677** (**permalink**) 08-01-2008, 06:11 AM

Quote:

Originally Posted by Vince

Dear Client:
Congratulations—your account will be switched to FXCM Micro on Sunday August 3. Within a week, you will be taking advantage of lower spreads from FXCM!
I have just recieved an email from FXCM the above text was the opening sentence anybody else recieved such an email?

Vince. This could be a good thing.. You can actually put on a Mini lot of 10 and then sell 1/2 your position at 1 price point and then let the other 5 ride.. From reading on the FXCM micro site Forex Trading Micro Lots | FXCM Micro you will have even tigher set spreads than the Mini and Standard accounts will have.
I think you will have to download a new FXCM platform to be able to see the new spreads too.

tacamonchi · #**4678** (**permalink**) 08-01-2008, 06:18 AM

Quote:

Originally Posted by cmellon

Hi everyone,

I will buy GBP as a HEDGE to my last night's short 1.9914

The price I will buy is 1.9705 if it ever go there before NFP (but maybe will not reach this before NFP). I will release my long hedge when price bounces up and keep my original short from now on all the way to 1.94-1.95. This plan of mine is only valid before NFP at 8.30 PM EST. I will clear this plan if price doesn't meet my buy price before NFP.

Good luck everyone.

Don't think it will reach 9705 before the NFP. hope to hear from you before the news release. Problem is that there will be a slew of reports- NFP is just one of them. Probably will take all of 5 minutes for traders to completely digest all of them before a definite direction evolves. However according to Doris Halim's I-Ching mode, price of the pound is predicted to reach 9910 around the time of news release. I am inclined to put in two longs just to cover this prediction. Question is: at what price point?

cmellon · #**4679** (**permalink**) 08-01-2008, 06:40 AM

Quote:

Originally Posted by tacamonchi

Don't think it will reach 9705 before the NFP. hope to hear from you before the news release. Problem is that there will be a slew of reports- NFP is just one of them. Probably will take all of 5 minutes for traders to completely digest all of them before a definite direction evolves. However according to Doris Halim's I-Ching mode, price of the pound is predicted to reach 9910 around the time of news release. I am inclined to put in two longs just to cover this prediction. Question is: at what price point?

It's very hard to predict the market reaction to NFP. Sometimes it's so irrational and very unexpected. NFP is infamous of causing whiplash to both direction. If you want to enter long, the question is where are you going to put your stop loss, and that is very difficult to determine at this point in time. And if past experience is any lesson, NFP will eat up everyone's stop loss before turning back to the other direction. NFP is that crazy.

I personally wouldn't go long for the reason of guessing the market reaction to NFP. But I know many traders like to do this for NFP. IMO, going long is a counter trend to the general downward trend, so it's quite a risky proposition. I would only go long in order to hedge my short position. During NFP time, I would only buy to hedge if price ever falls to 9655.

If price shoots up just like your prediction, I would just double up my short position.

I could be wrong, but that's my 2 cents.

Rix · #**4680** (**permalink**) 08-01-2008, 07:30 AM

Im long from 1975 with open target, SL 1969. Im also still holding a short from 199 from yesterday that missed its target of 197 so it may well get hit just before NFP. Im planning for a sharp hike north.