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Cable Update (GBPUSD)

  • #13,161
  • May 21, 2007 6:11am May 21, 2007 6:11am
Cool I knew that China news last week should mean $ strength, that shocking bull move that wiped out my profits on Friday afternoon was a retrace.

Happy now after seeing markets reacting today my shorts from last week back into profits.

I have closed my gbp/usd 1.9681, at chart it has hit bottom trendline. Not long yet as more potential for downisde maybe to 1.9640. But I thought good to take profit to be sure.

GBP/JPY if this drops then more downside in cable can be expected worth checking to see if it has broken though current resistance, see chart

EUR/JPY moving south hit major resistance around 164 and coupled with china news last week may see more South movement, this should make

EUR/USD drop, check chart of current trend we may even see 1.33xx

Sorry for the delay in this post been busy this morning and alot of the moves are already started but just wanted to share my theory and charts etc
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  • #13,162
  • May 21, 2007 6:15am May 21, 2007 6:15am
Quoting Pipsta
LOL = losers only long

LOL! Actually...it's laugh out loud.
Indeed, this question I had long ago but too shy to ask......thanks for asking and answering...Now one long pending question that I have in my mind is cleared now..
  • #13,163
  • May 21, 2007 6:23am May 21, 2007 6:23am
I'm wondering what the most accurate and speedy way to find out the market indices (sp500, djia, ftse, nikkie...). What does everybody use? I know yahoo, reuters, and bloomberg have quotes, but they're 15-20 minutes delayed. Am I right to assume that all publicly offered quotes will have the delay?
  • #13,164
  • May 21, 2007 6:25am May 21, 2007 6:25am
Quoting WTB
Nice London Open Breakout setup on cable this morning. Only trade looking good according to my system.

Anyone else riding the open breakout?
Jep.. I'm short 1.9725. Put my SL at 1.9705 and I want to take profit at 1.9655. Just let the market do the work.
  • #13,165
  • May 21, 2007 6:27am May 21, 2007 6:27am
Quoting Loopy
I'm wondering what the most accurate and speedy way to find out the market indices (sp500, djia, ftse, nikkie...). What does everybody use? I know yahoo, reuters, and bloomberg have quotes, but they're 15-20 minutes delayed. Am I right to assume that all publicly offered quotes will have the delay?
Go to their websites

www.nyse.com
http://www.sse.com.cn/sseportal/en_us/ps/home.shtml (Shanghai)
http://deutsche-boerse.com/dbag/disp...vigation/home? (Frankfurt - English version)
http://www.nni.nikkei.co.jp/ (Tokyo)
  • #13,166
  • May 21, 2007 7:39am May 21, 2007 7:39am
Quoting cesarnc
Go to their websites

www.nyse.com
http://www.sse.com.cn/sseportal/en_us/ps/home.shtml (Shanghai)
http://deutsche-boerse.com/dbag/disp...vigation/home? (Frankfurt - English version)
http://www.nni.nikkei.co.jp/ (Tokyo)
Yea, I've taken a look at them, but they're somewhat delayed. I was just wondering if there were any real-time quotes. Is this just wishful thinking on my part?
  • #13,167
  • May 21, 2007 7:43am May 21, 2007 7:43am
Quoting Loopy
I'm wondering what the most accurate and speedy way to find out the market indices (sp500, djia, ftse, nikkie...). What does everybody use? I know yahoo, reuters, and bloomberg have quotes, but they're 15-20 minutes delayed. Am I right to assume that all publicly offered quotes will have the delay?
You can have it here, real time and it's free. Sign up and register. Not Nikkei, but DjiA, Sp500, DAX, Nasdaq
http://www.advfn.com
  • #13,168
  • May 21, 2007 7:45am May 21, 2007 7:45am
I'm out today, got a sell signal at 9734 but was too sleepy to take it
  • #13,169
  • May 21, 2007 8:10am May 21, 2007 8:10am
Opening bell of Dow Jones and S&P almost here, interesting to see wether there is a flurry of buying in these markets.

If they look to be bullish today it may then be worth closing shorts in GBP/USD and going long (we are at a bottom line of trend channel as well in cable), obviously if DOW and S&Plook bearish then hold on to shorts
  • #13,170
  • May 21, 2007 8:17am May 21, 2007 8:17am
China is buying into BlackStone.
China agrees to widen trading band.

Seems like US is getting what they wished for:
1. CNY Appreciation
2. And China investing into US

Next stop, China will be buying a small piece of US soil...
  • #13,171
  • May 21, 2007 8:19am May 21, 2007 8:19am
Gonna be a tricky day (week?) now with 10yr Treasure coming into play...

Chinese change of policy (rates + taxes) may trigger an overall repositioning. Not a "panic-driven" unwinding or profit takings, but maybe a reassessment of positions...

09:12 it appears that the euro is coming under fire, and take a look at the 10 year note. it continues to grind up. The interest rate differential will start to appear to favor the dollar, so we are seeing cable and euro wilt
  • #13,172
  • May 21, 2007 8:20am May 21, 2007 8:20am
Quoting BurgerKing

Next stop, China will be buying a small piece of US soil...
Gonna save the housing sector or sink it for good?

  • #13,173
  • May 21, 2007 8:40am May 21, 2007 8:40am
Quoting mktjong
You can have it here, real time and it's free. Sign up and register. Not Nikkei, but DjiA, Sp500, DAX, Nasdaq
http://www.advfn.com
I took a look at that a little while ago. I didn't see any graphs and you can only look at it for a few seconds before it goes to a please-buy-our-service page. I guess its better than nothing for free though

On another note... dow opens -.1%. Dollar bearishness? Anyone think the yen will gain? Unwinding of carries?
  • #13,174
  • May 21, 2007 10:04am May 21, 2007 10:04am
Quoting cesarnc
Gonna save the housing sector or sink it for good?

Remember the day when US drove Japan to greatly appreciate the JPY?
Japan eventually did, and started buying US properties to the dislike of US.

Perhaps, its happening again and at the current situation when US Housing is at the low too.
  • #13,175
  • May 21, 2007 10:28am May 21, 2007 10:28am
So guys, what's up with the cable? going up or down?
  • #13,176
  • May 21, 2007 11:05am May 21, 2007 11:05am
I think it wants to go down badly but that 9680-90 is supporting it well for the moment. I am considering closing my shorts not to get that bit of a profit I am holding wiped out by a sudden rebound.
  • #13,177
  • May 21, 2007 11:14am May 21, 2007 11:14am
Quoting ashlee_17
So guys, what's up with the cable? going up or down?
cable is going shit
  • #13,178
  • May 21, 2007 11:51am May 21, 2007 11:51am
aye it bounces (retraces) like a dead fish now. I've been getting better moves with eur lately.

with the exception of the jpy move yesterday.
  • #13,179
  • May 21, 2007 12:10pm May 21, 2007 12:10pm
Quoting WTB
Nice London Open Breakout setup on cable this morning. Only trade looking good according to my system.

Anyone else riding the open breakout?
This trade lost gas halfway through after a rather swift thrust down at London open. The whole second half of London was boring and range bound. I dislike flat-lined markets so I exited at +5 pips.

Very quiet and boring day as far as I am concerned.
  • #13,180
  • May 21, 2007 12:12pm May 21, 2007 12:12pm
By the way, my statistics say that GBPUSD has reduced its average daily range considerably as of lately
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