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  • #341
  • May 10, 2007 8:43am May 10, 2007 8:43am
Longer term names are now coming to market and reversing their positions. Trichet twice referred to US Tsy Sec comments that a strong dollar is in US interest, each time in response to a question over Euro strength. This suggests a very subtle effort on his part to talk down the Euro. Last 1.9815.
Do not focus on making money; focus on protecting what you have.
  • #342
  • May 10, 2007 8:48am May 10, 2007 8:48am
Quoting patricio0793
Thank god you arent as undisciplined as I am But I can say that I wasnt expecting todays price actions. Say that, i dont think many people were!!
But I think I noticed one on a quick trawl earlier.
Do not focus on making money; focus on protecting what you have.
  • #343
  • May 10, 2007 8:51am May 10, 2007 8:51am
If you're in to that now IMO would be a good time. Last 1.9815 again.
Do not focus on making money; focus on protecting what you have.
  • #344
  • May 10, 2007 9:05am May 10, 2007 9:05am
Cable's at a clutch of expected supports, Why.

bottom of channel + 4hr 250 EMA and the cluch of fib levels from the previous big move up... Specially the 50% (9780s) from 9211-0131.

I'd like to see this level being traded shortly, as to reniew the buyer's interest. On my side I dumped all GU longs at 9830, after managing to profit from UJ and GJ earlier.

I'm back GU longs at 9780/60 (if such) or data driven breach of 9850s. We must see some extended down move here in Cable as to stop this bouncing hell in the 98/99s

And last but not least, "trend reversals" as the doomsday prophets like to spread is just B.S. you know.

So many times cable makes a false breakout to one side to push strongly in the direction of the trend. Gotta stay patient
  • #345
  • May 10, 2007 9:05am May 10, 2007 9:05am
Im just going to hold long and just get on my hands and knees and pray for continual weak US data..

Realistically though, this drop has shaken the possibility of another challenge to the recent high.

I will have to consider shorting soon!!

:-(
  • #346
  • May 10, 2007 9:09am May 10, 2007 9:09am
So many times cable makes a false breakout to one side to push strongly in the direction of the trend. Gotta stay patient[/quote]


I know what you mean about the false breakouts..

The cable will always do the unexpected...

Hey, Ive noticed you've stopped posting to the cable update page.. It seems to get worse and worse every time I have a look on it. Its lost its true reason for being there in the first place..
  • #347
  • May 10, 2007 9:14am May 10, 2007 9:14am
Quoting cesarnc
Cable's at a clutch of expected supports, Why. ..."trend reversals" as the doomsday prophets like to spread is just B.S. you know. So many times cable makes a false breakout to one side to push strongly in the direction of the trend.
I'm glad somebody's view who I respect has a similar opinion. Great to have you here mate. The other place is filled with the blind being led by the slightly less blind - a lovely quote from Darkstar I seem to remember in another place but I could be wrong. There are a few notable exceptions of course. You were one of them. It remains to be seen which category I will fit in.
Do not focus on making money; focus on protecting what you have.
  • #348
  • May 10, 2007 9:16am May 10, 2007 9:16am
Quoting patricio0793
So many times cable makes a false breakout to one side to push strongly in the direction of the trend. Gotta stay patient


I know what you mean about the false breakouts..

The cable will always do the unexpected...

Hey, Ive noticed you've stopped posting to the cable update page.. It seems to get worse and worse every time I have a look on it. Its lost its true reason for being there in the first place..
I lost respect AND some nice traders that use to hang there just vanished. I use to learn a lot there. Not gonna venture in a massive discussion there... If at 9800 they think "downtrend" so be it. It's not going to be me to fight the Doomsday Church. I dont fight the trend, you know
  • #349
  • May 10, 2007 9:19am May 10, 2007 9:19am
Quoting cesarnc
I lost respect AND some nice traders that use to hang there just vanished. I use to learn a lot there. Not gonna venture in a massive discussion there... If at 9800 they think "downtrend" so be it. It's not going to be me to fight the Doomsday Church. I dont fight the trend, you know
Glad I found you. I was on the Cable thread to read your input mostly. Will you be on this thread from now on?
Regards...
  • #350
  • May 10, 2007 9:21am May 10, 2007 9:21am
Quoting patricio0793
I will have to consider shorting soon!!
Maybe a sell limit at a resistance suggested earlier?
Do not focus on making money; focus on protecting what you have.
  • #351
  • May 10, 2007 9:23am May 10, 2007 9:23am
Quoting Why Oh Why
I'm glad somebody's view who I respect has a similar opinion. Great to have you here mate. The other place is filled with the blind being led by the slightly less blind - a lovely quote from Darkstar I seem to remember in another place but I could be wrong. There are a few notable exceptions of course. You were one of them. It remains to be seen which category I will fit in.
I'm just posting here because I respect yours. And would respect even if it wasn't according to mine coz you make sense in what you post.

BTW, note that, since January, the most impulsive pushes to new highs were made after a bounce off extended lows. The lack of buyers in at the 9960/90 levels, show that the big $ does not see value in buying Cable at that level.

Lack of retracement today is also a sign that buyers are out. Gotta check when they will pop in now. My 100% guess ? Next week's GB's CPI and Retail Sales, that were which started the move to 0131 from 99 level.
  • #352
  • May 10, 2007 9:24am May 10, 2007 9:24am
Quoting okfx
Glad I found you. I was on the Cable thread to read your input mostly. Will you be on this thread from now on?
Regards...
I'll be here until the next post stating "target 9500", then I vanish

  • #353
  • May 10, 2007 9:25am May 10, 2007 9:25am
Quoting okfx
Glad I found you. I was on the Cable thread to read your input mostly. Will you be on this thread from now on?
Regards...
I'd be glad to have you here cesarnc. Maybe even you giving an opposing view on when I put an order in. Or why it's a good or bad move. Great minds don't always think alike. LOL. Or perhaps it might be better in your own journal for your posse. Sir, the it's a matter for you.
Do not focus on making money; focus on protecting what you have.
  • #354
  • May 10, 2007 9:28am May 10, 2007 9:28am
Quoting cesarnc
I'll be here until the next post stating "target 9500", then I vanish
Good to see you.
Do not focus on making money; focus on protecting what you have.
  • #355
  • May 10, 2007 9:33am May 10, 2007 9:33am
Quoting Why Oh Why
If you're in to that now IMO would be a good time. Last 1.9815 again.
...you'd probably be out for 10 now. Ok for 30 minutes. I didn't.
Do not focus on making money; focus on protecting what you have.
  • #356
  • May 10, 2007 9:34am May 10, 2007 9:34am
Quoting Vantage
Looks like .9860 holding for now, currently .9871, I'll be looking for a little more confirmation of a turn before buying. Next supp area looks to be .9820, should it slip again.
A nasty day to be sure but 1.9820 was a res level from 2nd and 3rd April, the daily chart 50 ema is at this price and as mentioned there are a good couple of fib's that supp in and around this number. I would like to see a retest of this level and then a nice solid turnaround.

Is anybody following the COT data are the big boys short GBP and long USD by any chance?
  • #357
  • May 10, 2007 9:59am May 10, 2007 9:59am
Quoting Vantage
A nasty day to be sure but 1.9820 was a res level from 2nd and 3rd April, the daily chart 50 ema is at this price and as mentioned there are a good couple of fib's that supp in and around this number. I would like to see a retest of this level and then a nice solid turnaround.
5 long for open 5 each at 1.9815 and an open loss for 5 long for 75 each just holding on from 1.9895. SL at 1.9795. I blame Trichet. Losses every time he talks. That's it for me today. Thanks to everyone who dropped by and I look forward to reading any comments in my morning. See you in 14 hours.
Do not focus on making money; focus on protecting what you have.
  • #358
  • May 10, 2007 12:00pm May 10, 2007 12:00pm
I´ve been out most of the day, but do have some underwater positions in the Euro - which I´m holding.

Statistically, I would expect the weeks low tomorrow, although I´ve not yet had a good look to see where the support and fibos come in - now cables on new lows at 9793 and euro also at 3484.

This maybe the big shake-out that´s needed before an attack above the
2.0131 level - time will tell.
Trading Levels with WRBs
  • #359
  • May 10, 2007 1:43pm May 10, 2007 1:43pm
buy buy buy!!! thats all i can say.. GU is getting cheap and imo getting ready for that move to 2.00... just wanted to drop my 2 pips... i with u
  • #360
  • May 10, 2007 11:05pm May 10, 2007 11:05pm
Good morning Why Oh Why,

I've been looking in on your thread for a few weeks now 'cause I'm learning a lot from the opinions of yourself and other posters. Many thanks!

Agree with fundamental opinions I see here so why did the GBP/USD go down yesterday?....It got me too!!

Don't know if you agree but it may be that when US fundamentals are perceived as getting worse beyond a certain point the carry traders panic and sell their overseas assets. Many are Japanese or Yen borrowers so it causes a flow out of the high yield currencies back into Yen. If the flow is close to the same percentage for each JPY pair then because of the difference in the rates it hurts GBP the most. Sooo GBP/USD gets dragged down. This time it seems to be led by fear of US recession but back in early March the same thing happened when the Chinese threatened to impose a capital gains tax. We sometimes seem to be at the mercy of the Carry Traders!!

A glimmer of hope for longs.... Mr Greenspan may have come to the rescue......
0218 GMT [Dow Jones] JPY falls vs USD, EUR as well as crosses due to Japan importers, interbank players covering JPY-short positions, says senior interbank dealer at major Japan bank. Says exporters were pushing JPY up since morning, but their operations likely ended by now. Traders tip USD/JPY at 120.20 (last 120 on EBS), EUR/JPY around 162.85-162.95 (161.67 last); adds former Fed chairman Greenspan's comment on chance of U.S. recession won't affect pairs much as isn't anything new.(TMO) ......

Let's hope so but from now on I'm going to take more heed of what my chart indicators and prices are saying.....don't have the brain capacity to work out fundamentals consistantly!!

Hope it helps 'though I know it's all been said before... somewhere.

btw... I'm long again from 1.9783...SFSG

Good luck to all.
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