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by Ashraf Laidi
Posted: Nov 18, 2008 3:15
Comments: 1310
View Analytic
This thread was started in response to the Analytic:

GBP Trade Index 18-Year Chart

Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
 
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montmorency
Abingdon, UK
Posts: 610
15 years ago
Feb 16, 2010 18:05
On the 1H chart of cable, the 365 EMA could act as a resistance which would be about 1.5808.

I'm not that big a believer in the concept of resistance to be honest, but the 365 EMA does often _appear_ to act that way (and as support as well of course in other circumstances).

I sometimes use that and other EMAs to give a bit of structure to my charts, but I also take them with a pinch of salt.
Pipster
birmingham, UK
Posts: 111
15 years ago
Feb 16, 2010 17:54
Pipped,

I loveyour take on things. How did you ever come to understand the market the way you do - cynical , but to the point - thanks
chloethebull
Posted Anonymously
15 years ago
Feb 16, 2010 17:49
hey pippedoff, now that the gbpusd has broken through the 1.5750 resistance how much further can this go? lol looks like i shoulda grabed some udcad @ the low ..it woulda been a better play than gbpusd..hindsight is a great thing lol..gl
PippedOff
Canada
Posted Anonymously
15 years ago
Feb 16, 2010 17:37
I am nibbling on a short gold here.

You can take a look at the 1 min charts on the euro and gbp trash, and aussie, and see all that is occurring is a counter-trend consolidation of running stops.

Who in their right mind would buy euro and gbp?

Gold is only breathing because euro has rallied on back of receiving a eur/gbp bid.

usd/cad is actually carving out a bottom. This could signal the near-end of this counter-trend rally simply orchestrated to take out soft shorts.
Pipster
birmingham, UK
Posts: 111
15 years ago
Feb 16, 2010 17:37
With ashraf's comments about a possible boost on the USD dollar from the feds tomorrow, this might bring the gold down. Is my thinking correct here guys
Pipster
birmingham, UK
Posts: 111
15 years ago
Feb 16, 2010 17:34
Hi Pipped,

Are you short on gold. With USDX falling wouldn't this push gold higher - your thoughts are most helpful
PippedOff
Canada
Posted Anonymously
15 years ago
Feb 16, 2010 16:58
stopped out on gold short at 1111. Back in at 1119.7. Continuing to nibble usd/cad long here.

This sudden sea-change seems rather dubious. Like I said, ANYTHING to defend Dow 10K.
chloethebull
Posted Anonymously
15 years ago
Feb 16, 2010 16:52
hey pipedoff, just shorted the gbpusd @1.5733,tried to change the order but missed it..now put in order to close @ 1.5660..not sure what im doin with usdcad i have a order in @ 1.0385...u still shorting gold &usdcad? thanks an gl
PippedOff
Canada
Posted Anonymously
15 years ago
Feb 16, 2010 16:40
@speculator

You've been very quiet lately. I am interested in your down-side targets on USDX.
PippedOff
Canada
Posted Anonymously
15 years ago
Feb 16, 2010 16:33
@chloe-most of the eur/usd move has been the result of the usual-a strong bid on eur/gbp. Cable has gone nowherein the last 70 pip move on euro. Euro's short-term countertrend consolidation has given risk appetite a "reason" to bid commodoties.
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