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Cable Update (GBPUSD)

  • #11,361
  • Apr 26, 2007 10:08am Apr 26, 2007 10:08am
It is quite likely that 1.4000 level will come before 2.0300.
  • #11,362
  • Apr 26, 2007 10:11am Apr 26, 2007 10:11am
Quoting Igrok
Cable has no more business above 2.0100-200. If it's indeed a broadening triangle then we're looking for 1.9250-9300 level in a few weeks.

coming from you...my faith has finally been restored. The controls have been set in...
  • #11,363
  • Apr 26, 2007 10:15am Apr 26, 2007 10:15am
Quoting pwegner
I figure the last run was from 1.9590 to 2.0135. 50% retracement would be 1.9860 and 61% would be 1.9805. Usually we get at least a 50% retracement.
Agreed...Today was a 170 pip day. Imho cable will continue south after a atleast 50% retracement.

Currently, long frm 1.9900 TP 1.9975 (50 fibo of today's south move) SL 1.9885
  • #11,364
  • Apr 26, 2007 10:31am Apr 26, 2007 10:31am
Bb Hunting...............4h
Attached Image (click to enlarge)
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I Deeply Love My Virtual Life In Virtual World , RLC
  • #11,365
  • Apr 26, 2007 10:55am Apr 26, 2007 10:55am
Henrycarol is here???
  • #11,366
  • Apr 26, 2007 11:02am Apr 26, 2007 11:02am
Quoting pablorpl
Henrycarol is here???
Thank God no!!!! We would be talking 96s here
  • #11,367
  • Apr 26, 2007 11:17am Apr 26, 2007 11:17am
1.9900 is a strong monthly support. When it breaks it, then...
  • #11,368
  • Apr 26, 2007 11:38am Apr 26, 2007 11:38am
Quoting Igrok
It is quite likely that 1.4000 level will come before 2.0300.
I beg to differ.

FACT - UK will hike rates at least twice if not more in the next 6 to 9 months.

At the present time, it would seem likely that US rates will not be hiked.

What is the point of you scaremongering? Do you consider yourself some sort of forex wunderkind? To listen to you, you seem to be able to see into the near future and it seems that in your opinion technical\fundamental analysis does not count for anything at the moment.

For me, the current trend for Cable FX trading (apart from strange behaviour days like today) is in fact primarily fundamentals based with the need for a keen observation on the technical aspects of the daily trend and associated ranges.

Unfortunately for me, on the advice of others who seem to worship you on this forum I bought and then tried to read your mangled syntax book. Apart from your ability to state the bleeding obvious in an extremely laboured way, I was not impressed and I believe a week reading through the wealth of knowledgeable posts here would be time better spent.

Traders need to look at the market each day and judge their trades on a wide range of market factors. Sweeping trend statements such as yours (my own are always firmly tongue in cheek by the way) do not help anyone.

To make the statement that 1.4 is achievable before 2.03 is a wild, arrogant and most unhelpful observation. If you really believe this to be the case then tell us why you think this will happen. Oh mighty GURU!!!!!!!!!!!
  • #11,369
  • Apr 26, 2007 12:00pm Apr 26, 2007 12:00pm
Tell us what you really think, and don't hold back this time.
  • #11,370
  • Apr 26, 2007 12:01pm Apr 26, 2007 12:01pm
Quoting asyi
Tell us what you really think, and don't hold back this time.
who me?
BAM BAM BOOM! -bravado
  • #11,371
  • Apr 26, 2007 12:02pm Apr 26, 2007 12:02pm
Bottom Fishing anyone?

I took the dive at 2.0024 then again at 1.9971. I failed to realize the importance of 1.9950 and should have shorted another there.

Fundamentally, why is USD weak? Is it because of a weak economy? Just look at the DOW hitting past 13000 and the components showing record earnings. These suggests that the US Economy is STRONG inspite of the housing slump.

13000 seems like an unlucky number though.


BTW... Watch out for US GDP this Friday. That should give the direction where GBPUSD would go from here.
  • #11,372
  • Apr 26, 2007 12:07pm Apr 26, 2007 12:07pm
you mean FXexpat. i thought you meant me for a sec.

i'm not narcissistic or anything like that. or attention seeking. i'm the most humble, gentle, well mannered, and nicest trader i know. i'm also an expert and a master when it comes to trading, etc, etc,. i can go on forever.
BAM BAM BOOM! -bravado
  • #11,373
  • Apr 26, 2007 12:08pm Apr 26, 2007 12:08pm
No, I was refering to FXexpat's reaction.
  • #11,374
  • Apr 26, 2007 12:16pm Apr 26, 2007 12:16pm
Very seldom do I get caught in a trade going the wrong way, but maybe it was going the right way and I just couldn't see it and refused to believe it. As I look at my chart my signals still say to buy. But normally a buy signal means the pair is going to go up not down. Just goes to show me that no system is 100% when trading the Forex. I'm still hanging on to my buy position.
  • #11,375
  • Apr 26, 2007 12:31pm Apr 26, 2007 12:31pm
Quoting asyi
Tell us what you really think, and don't hold back this time.
Do you think I held back too much?

I worry sometimes.
  • #11,376
  • Apr 26, 2007 12:32pm Apr 26, 2007 12:32pm
Quoting bravado
you mean FXexpat. i thought you meant me for a sec.

i'm not narcissistic or anything like that. or attention seeking. i'm the most humble, gentle, well mannered, and nicest trader i know. i'm also an expert and a master when it comes to trading, etc, etc,. i can go on forever.
I'm sorry, who are you again?
  • #11,377
  • Apr 26, 2007 12:44pm Apr 26, 2007 12:44pm
i'm also considering an entry for a long. i knew there was gonna be a drop for cable when i saw the last spike to 2.005x, but i didn't expected so fast. my target is now at around 1.9860 (at this very moment, but going down as we speak), at which point i will enter a long with a 50 pips target.

Quoting asyi
Very seldom do I get caught in a trade going the wrong way, but maybe it was going the right way and I just couldn't see it and refused to believe it. As I look at my chart my signals still say to buy. But normally a buy signal means the pair is going to go up not down. Just goes to show me that no system is 100% when trading the Forex. I'm still hanging on to my buy position.
Nihil Sine Deo.
  • #11,378
  • Apr 26, 2007 12:57pm Apr 26, 2007 12:57pm
Quoting FXexpat
I'm sorry, who are you again?
Oh-oh
  • #11,379
  • Apr 26, 2007 1:02pm Apr 26, 2007 1:02pm
Quoting cesarnc
Oh-oh
Don't worry, it's just "Great minds discussing ideas. avoiding average mindless discussions of events and being small minded to the point of discussing people."
  • #11,380
  • Apr 26, 2007 1:07pm Apr 26, 2007 1:07pm
Quoting FXexpat
Don't worry, it's just "Great minds discussing ideas. avoiding average mindless discussions of events and being small minded to the point of discussing people."
I'm not worried...

I just want to understand WHERE IS THIS FREAKING PAIR GOING TO NEXT

From all possible nasty behavior I know in this market, this is definitely the nastiest. A 150 push and the players simply vanish
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