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10pips GBPUSD Mission Accomplished

Mon, Oct 13 2008, 05:48 GMT
by Anthony Samaha

ForexSurvivor

1 minute with ForexSurvivor

10pips GBPUSD Mission Accomplished

A.        (13October Europe) Latest Impact: No Lazy Positions

The term Crisis is to be replaced by ‘Conspiracy.’

There is no reason to believe anymore that the financial disintegration is a crisis; it is absolute conspiracy among the countries that call themselves G7.

Why Conspiracy?

Reason No. 1:            No One Has Resigned

Reason No. 2:            No One Has Resigned

Reason No. infinity:  No One Has Resigned

Saturday night, Oct. 11, International Monetary Fund directors warned a global economic meltdown was close unless urgent measures are put in place. They went on air with their warning after the seven rich nations’ financial leaders meeting at the White House in Washington failed to agree on a package to revive inter-bank lending and so rescue the markets from free fall.

The IMF director Dominique Strauss-Kahn admitted Saturday night that the bailout plans and interest rate cuts approved in the last 10 days had failed to restore confidence in world markets.

The UK government is preparing to partly nationalize up to five troubled major banks including the Royal Bank of Scotland, Lloyds TSB and HBOS, with a $60 bn injection

The looming leadership vacuum is fueling financial fears. The US president George W. Bush’s presidency ends in January, Canada faces an election next week, Japan is on its third prime minister in a year; Britain’s Gordon Brown is fighting sliding opinion polls.

Who will therefore lead the transition to a different, or even amended, world financial order? And how credible would a G7 or EU consensus be, given that so many major economic powers including China, Russia, India and Brazil, were excluded from their counsels?

B.        Signal

ForexSurvivor Weekly Weekend Newsletter has the signal for the day

Limit Order Valid till 10 October

C.        Mission Accomplished:

(09 October US) GBPUSD: Sell 17188; TP 10pips

Position(s) Closed

D.        The Potential Flows of Trading Information constitute my (Anthony Samaha) judgment and are not trading recommendations. ****

Published on  Mon, Oct 13 2008, 05:49 GMT