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Cable Update (GBPUSD)

  • #13,181
  • May 21, 2007 12:15pm May 21, 2007 12:15pm
Quoting WTB
By the way, my statistics say that GBPUSD has reduced its average daily range considerably as of lately
This damn pair is abandoned, let's face it. Dollar going up? It goes down. Carrys are good? It goes up. Euro got hit, fall like a rock...

I'm off cable and Euro, days in a row already. No clear direction.
  • #13,182
  • May 21, 2007 12:17pm May 21, 2007 12:17pm
Quoting WTB
By the way, my statistics say that GBPUSD has reduced its average daily range considerably as of lately
I know it's rather sad and a bit boring, GBP used to be such a blast to trade. Because it moved so much, now it's like watching paint dry when there isn't news.
  • #13,183
  • May 21, 2007 12:21pm May 21, 2007 12:21pm
DJ and S&P are going up so EUR/JPY and GBP/JPY have been bullish. This in turn has halted the move South in cable and why we are now seeing retraces.

We may have opportunities to reposition some shorts on these retraces as I believe we may go lower tomorrow.

Ive put sell orders here

1.9738 and 1.9758 in GBP

1.3482 and 1.3502 in Euro
  • #13,184
  • May 21, 2007 12:21pm May 21, 2007 12:21pm
Quoting shadeslay
I know it's rather sad and a bit boring, GBP used to be such a blast to trade. Because it moved so much, now it's like watching paint dry when there isn't news.
Go for other pairs. USDCAD was a killer today. As it's been lately. Same USDCHF and UJ.

Don't cry. Find where is the money going to and from. Work.
  • #13,185
  • May 21, 2007 12:24pm May 21, 2007 12:24pm
Quoting cesarnc
Go for other pairs. USDCAD was a killer today. As it's been lately. Same USDCHF and UJ.

Don't cry. Find where is the money going to and from. Work.
Already in cad
  • #13,186
  • May 21, 2007 12:29pm May 21, 2007 12:29pm
Quoting shadeslay
Already in cad
Damn beautiful pair...

Problem is that I'm so used to "go long" in other pairs, that my heart freezes when I see the big red candles in this one. Takes like 5 seconds to realize that "ooohh...this is good"
  • #13,187
  • May 21, 2007 12:39pm May 21, 2007 12:39pm
Quoting cesarnc
Damn beautiful pair...

Problem is that I'm so used to "go long" in other pairs, that my heart freezes when I see the big red candles in this one. Takes like 5 seconds to realize that "ooohh...this is good"
Ya still learning trend trading myself so it's still ruff for me to not take profit too soon. I keep seeing it bounce of the bottom and my mind is screaming "take profit", "take profit". Kind of why I liked GBP so much pivot to pivot was often 100 pips.
  • #13,188
  • May 21, 2007 12:45pm May 21, 2007 12:45pm
i agree its boring,...Gordon is coming soon,...that should be even more "boring"....lol
its just money
  • #13,189
  • May 21, 2007 12:49pm May 21, 2007 12:49pm
Quoting marketwavez
Pg-2.................
Here's the posture of the U.S. Dollar

Is today's breakout a big fakeout ? ..................
///////////////////////////////////////////////////////////

Only time will tell us now !
Update Time ////////////////////////////////////////////////////
Attached Image (click to enlarge)
Click to Enlarge Name: Swiss Franc-05-17-07-05.jpg Size: 62 KB
  • #13,190
  • May 21, 2007 12:54pm May 21, 2007 12:54pm
Quoting ~Shard~
It may be a breakout based on that use of trendlines, but this is very subjective. For instance, if you instead draw the upper channel line starting from the April 23rd peak as opposed to the April 18th peak, you'll see that this is not in fact a breakout, rather it is sitting right at the top of the channel right now at 1.2277.

In general, people can draw all sorts of lines until they show them what they want to see...
So here we are today -///////////
any other comment ?
Attached Image (click to enlarge)
Click to Enlarge Name: Swiss Franc-05-21-07-01.jpg Size: 63 KB
  • #13,191
  • May 21, 2007 12:57pm May 21, 2007 12:57pm
Quoting marketwavez
So here we are today -///////////
any other comment ?
My comments remain. Market is in overall repositioning after news from China. That's why the 10yr Trasury up with Stocks up with dollar up, all at the same time, in what is an apparent nonsense.

Nice chart showing the technicals behind it. I took 50pips in this pair accidentaly today (went long to collect interests mainly)
  • #13,192
  • May 21, 2007 1:03pm May 21, 2007 1:03pm
Anyone knows what is this about?

13:56 There seems to be very little chatter about the Tuesday/Wednesday Sino Us meetings in Washington. There are some pretty big hitters attending these talks and the outcome could be rather dramatic. At risk, should the chinese not play ball, is protectionist legislation by the US government. The US congress is looking for somehting along the lines of a 20-40 percent revaluation of the Yuan. That seems like a very unlikely event at this juncture.
  • #13,193
  • May 21, 2007 1:14pm May 21, 2007 1:14pm
Trading is a battle between the Bulls and the Bears
- You have all heard that before .............

but more importantly

Trading is a battle between the Technicals and the Funny-mentals....
---------------------------------------------------------------------

sometimes Technicals move the market
and
sometimes the Funny's move the market !

--------------------------------------------------------------
Take your pick as to which ever happened today !
  • #13,194
  • May 21, 2007 1:23pm May 21, 2007 1:23pm
Quoting marketwavez
This last chart sums up what could be occuring the Gbp/Usd

This is my Humming Bird -
-----------------------------------------------------------
- Will price keep declining ?

I really don't know .....

I'm just sharing what I think is happening visually !
---------------------------------------------------------------
Without charts its like the Blind leading the Blind in here .

-------------------------------------------------------------------

These Charts represent Elliott Waves Formations at work as a trading method !
Update Time ....

Take a good look at this chart -
- How could it not be saying something significant ? .........
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-04-27-2007-#1.jpg Size: 57 KB
  • #13,195
  • May 21, 2007 1:25pm May 21, 2007 1:25pm
pg2....................
Attached Image (click to enlarge)
Click to Enlarge Name: GBP-05-16-2007-#2.jpg Size: 67 KB
  • #13,196
  • May 21, 2007 1:31pm May 21, 2007 1:31pm
Why Trade with Elliott Waves ?....

-----------------------------------------
So you see Breakouts and Pullbacks !
( as posted above ... )

The Waves are always there ! ...............

-------------------------------------------------------------
Elliott Waves - Study them , Get to know them !
  • #13,197
  • May 21, 2007 1:41pm May 21, 2007 1:41pm
Quoting marketwavez
Why Trade with Elliott Waves ?....

-----------------------------------------
So you see Breakouts and Pullbacks !
( as posted above ... )

The Waves are always there ! ...............

-------------------------------------------------------------
Elliott Waves - Study them , Get to know them !
why do you have one chart as gbp/usd and the other usd/gbp.
BAM BAM BOOM! -bravado
  • #13,198
  • May 21, 2007 2:15pm May 21, 2007 2:15pm
I have been taking a look at a new strategy the past couple weeks. It's a ma crossing one that is very quick. So I call it a quick cross system. Anyway I've been trying to work out the rules for entering and exiting because it's really a good early signal system but fraught with false signals and too quick for optimal exit signals so I've been trying to weed the noise out without going to a slower cross that reacts too late to catch the bulk of moves.

My point is though on the monthly chart the two quick cross MAs are as close to each other as they have been since April of 06. When this cross happens on the monthly chart it appears like it's a rather significant indication of a major trend change.

I don't quite know how to trade this possible cross but I can say if it does bear cross it could indicate a trip down to the lower 1.90s and a shot at the 1.80s at some point within the next 8 months. The last bear cross resulted in a 15 penny drop in 8 months from the location of the cross price. The previous cross to that was not as clean but still resulted in a 5 penny drop in a few months from the cross price and a 10 penny drop from the high to the low in that few month span. A muddy cross could just provide some good longing opportunities for those of you who expect another run at the all time highs just established and use a longer time framed strategy.

I don't really know what to make of it yet but it will be something I'm watching very closely for the next 4 weeks or so.
  • #13,199
  • May 21, 2007 2:18pm May 21, 2007 2:18pm
Quoting WTB
By the way, my statistics say that GBPUSD has reduced its average daily range considerably as of lately
that's what I've been saying

I MISS CABLE THE BEAST!!! IS CABLE DEAD???

I just trade cable, don't wanna waste time with other pairs, so please come back!!!!!
  • #13,200
  • May 21, 2007 2:21pm May 21, 2007 2:21pm
The big boys also get bored!!!!

15:13 Just told some macro accounts sold Euro there since it failed to accelerate through the 1.3470/75 level
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