Dow futures opened tonight down -38 went 15 points lower but now is only down -18. Big overnight/pre-market open moves generally wait for 830am est on news release days but usually no move of any substance happens before 300am est.

Cable Update (GBPUSD)

Yes but the word bailout keeps being thrown out there. I have read news reports of repo purchase of debt and then the discount rate drop. Is this the bailout that is being refered to? Have I missed something somewhere?

Subprime Worries

Yeah and then buy it back from the Europeans at further distressed prices. Then watch as it all go back higher still again. I like that kind of cycle. You do know that the Japanese no longer own Rockefeller Center or the Pebble Beach golf course or ...

Subprime Worries

I am more partial to the way Robert Miner/Dynamic Trader uses fibs. Price and Time fib projections along with the pattern are used to determine market direction. Is it infallible, of course not. What is? But traders will faithfully follow their ...

Are Fibonacci levels overrated?

Only through trial and error can you determine which is the best timeframes and which indicators (if you have to) to use. Keep in mind that you can also change the default settings of the indicators. There is no one right way to look at the market.

Time Frame and Indicators

Although I am biased to the technical side, I think this is an excellent reply. We all have to find what works best for ourselves. Starting on one path may lead to a different one.

NEWS Trading or TECHNICAL Trading?

Huh, lowering the overnight discount rate is for ANY bank that borrows from the fed. This then lowers the rates that are passed on down the line. That is if rates continue to drop it will filter through. I don't see anything wrong with that. Maybe ...

Cable Update (GBPUSD)

Oh there is still 37 minutes left for currencies, but I guess 2.0 is safe.

Cable Update (GBPUSD)

Reason being I don't think there are too many traders who want to put on new shorts before the weekend for the same reason why they might not want to go long. Uncertainty. But even though we have had a 10% drop from the highs, there has been this ...

Cable Update (GBPUSD)

After yesterday and today, I'd kind of think it is 50/50 which will happen. Leaning towards a good close.

Cable Update (GBPUSD)

Dow pushing to close at or near the highs of the day. Might therefore continue into start of the new week. Right now monday is a long way away. Too many beers to drink.

Cable Update (GBPUSD)

Mine too. Have a good one, pinch

Cable Update (GBPUSD)

Sounded a little like when the doctor snakes a camera up your watousie to check your insides.

Cable Update (GBPUSD)

BTW I admire you learning the forex market at the same being a student. When I was back in college I worked days so never got to finish my studies. I only have a 2 year degree. Here is some more advice you can also take or leave. Complete your ...

Cable Update (GBPUSD)

Warper, You have some imagination. I do have some in my family who are very wealthy. Not me though. I am OK but everything I have is from my doing, without seed money either. Some of what you say are exactly what I used to think. I still have a lot ...

Cable Update (GBPUSD)

More like a doji then pin, since open is near middle of the bar. At least for EST open/close times.

Cable Update (GBPUSD)

Nothing really. The experienced ones are way better imo. The truths is I almost never remember my dreams. But you guys don't really care so back to the markets.

Cable Update (GBPUSD)

Dow futures filled the overnight up gap and reversing back up. Rally is resuming.

Cable Update (GBPUSD)

Didn't mention I am talking about 4hr chart. Are you also? And how about the 500am est pinbar this morning. At the time I was with some of the 70 virgins. I become a muslim when I go to sleep.

Cable Update (GBPUSD)

Yesterdays daily Dow bar was one motherf...... pinbar. Still many hours to go in the day but right now the daily looks like a mirror opposite. Boys in NYC better do some buying and quick. Probably wait till 315pm est again to see.

Cable Update (GBPUSD)