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Cable Update (GBPUSD)

  • #13,461
  • May 23, 2007 1:31pm May 23, 2007 1:31pm
here is how my complaint went on the phone:

me: hello?

broker: who is this?

me: it's me bravado. that's who.

broker: let me guess. you got stopped out on cable today.

me: i KNEW you would know all about it. the question is, what are you going to DO about it.

(silence)

me:that's right.

broker: i knew about it cause you were the one who tole me to place that order. i told you not to do it. didn't you see the range on that thing? way above average. what? you thought it was gonna hit the moon today after such a big move? bravado. what were you thinking? and why do you always call me when you get stopped out?

(silence)

broker: is there anything else you need BRAVADO?

me: nope. talk you again soon. bye.

broker: talk to ya later.

>>click!<< phone hangs up

me: f**k u ya f*&%ing f*cK!!
BAM BAM BOOM! -bravado
  • #13,462
  • May 23, 2007 1:32pm May 23, 2007 1:32pm
One of the drivers of the USD action this week... Just FYI

14:31 US Treasury yields look to have stalled and reversed on the test over 10 year at 4.85%, currently just below. If the reversal in yields continues, we could see EUR/USD move back up.
  • #13,463
  • May 23, 2007 1:33pm May 23, 2007 1:33pm
Quoting bravado
here is how my complaint went on the phone:

me: hello?

broker: who is this?

me: it's me bravado. that's who.

broker: let me guess. you got stopped out on cable today.

me: i KNEW you would know all about it. the question is, what are you going to DO about it.

(silence)

me:that's right.

broker: i knew about it cause you were the one who tole me to place that order. i told you not to do it. didn't you see the range on that thing? way above average. what? you thought it was gonna hit the moon today after such a big move? bravado. what were you thinking? and why do you always call me when you get stopped out?

(silence)

broker: is there anything else you need BRAVADO?

me: nope. talk you again soon. bye.

broker: talk to ya later.

>>click!<< phone hangs up

me: f**k u ya f*&%ing f*cK!!
  • #13,464
  • May 23, 2007 2:22pm May 23, 2007 2:22pm
Quoting Takisd
I am not convinced of a trend change.
looks bullish to me. going to attempt another long at 9790-9810 area.
BAM BAM BOOM! -bravado
  • #13,465
  • May 23, 2007 2:24pm May 23, 2007 2:24pm
Former Fed Chairman Greenspan reportedly says he fears another "dramatic contraction" in Chinese stocks after "unsustainable" rally.

He needs to move here in South Florida and play shuffle board/mah jong/bocci ball something besides run his mouth.
  • #13,466
  • May 23, 2007 2:29pm May 23, 2007 2:29pm
Quoting SunTrader
Former Fed Chairman Greenspan reportedly says he fears another "dramatic contraction" in Chinese stocks after "unsustainable" rally.

He needs to move here in South Florida and play shuffle board/mah jong/bocci ball something besides run his mouth.
I know a couple of remote beaches in Brazil, no TV, no internet, no phone, tons of caipirinha...
  • #13,467
  • May 23, 2007 2:38pm May 23, 2007 2:38pm
Quoting cesarnc
I know a couple of remote beaches in Brazil, no TV, no internet, no phone, tons of caipirinha...
Hell, I'll go if you put it that way.
  • #13,468
  • May 23, 2007 2:43pm May 23, 2007 2:43pm
Quoting bravado
Shooting Star/Inverted Hammer/Pin Bar(?)

http://www.leavittbrothers.com/images/bear/1235.gif

The Psychology

In an uptrend or within a bounce of a downtrend, the stock gaps up. A valid attempt is made to rally the stock, but the strength subsides and the stock falls to close near the day's low and near its opening price. Failure to follow through with strength suggests the bulls may be losing strength. Although this is not necessarily extremely bearish, it is less bullish, so stops should be moved up or profits taken on longs. For a reversal to occur a weak day is needed to confirm the pattern.
No pinbar.

Although I do think we will retrace some of the up move. Maybe back down to 1.98 before resume uptrend.

38.2% retrace is 1.9809 and midpoint of large up bar on 4hr chart is 1.9811 it what I will be looking for.
  • #13,469
  • May 23, 2007 4:11pm May 23, 2007 4:11pm
Good Game, watched it on ESPN live here in the States.
wasn't a high scoring game, but all games are exciting with the right fans!
--------------------------------------------------------------

AC Milan beat Liverpool 2-1 in Champions League final
ATHENS, May 23 (Reuters) - Two goals from Filippo Inzaghi gave AC Milan a 2-1 win over Liverpool in the Champions League final at the Olympic Stadium on Wednesday. The Milan striker scored his first on the stroke of halftime after he got in the way of a free kick by Andrea Pirlo to divert the ball past Liverpool goalkeeper Pepe Reina. He grabbed his second in the 82nd with a side-footed shot underneath Reina to seal Milan's victory. Dirk Kuyt's powerful headed goal in the 88th minute was only a consolation for Liverpool.
“Past performance is not indicative of future results”
  • #13,470
  • May 23, 2007 4:23pm May 23, 2007 4:23pm
Wasn't a high scoring game. You mean they have them?

Just like F1. Do they ever pass anyone on the track?
  • #13,471
  • May 23, 2007 4:36pm May 23, 2007 4:36pm
Quoting SunTrader
Wasn't a high scoring game. You mean they have them?

Just like F1. Do they ever pass anyone on the track?
I love F-1, but some tracks aren't the best when all the cars are set up right.
you should try watching Moto GP. it's way more exciting without all the fluff !
http://www.bpa-sportpresse.de/mag/po...otoGP_0405.jpghttp://www.moto-net.com/images/motog...shanghai_s.jpg
“Past performance is not indicative of future results”
  • #13,472
  • May 23, 2007 4:52pm May 23, 2007 4:52pm
Treasury secretary Paulson invited 100 of his best friends from China over to the US to talk about trade. Let’s be honest. What this meeting was all about was a plea by Mr. P to allow the Chinese currency, the Yuan, to be allowed to appreciate in a more open, freer market. While I do not think Mr. P explicitly requested a 40% reval as some US senators are calling for, we are sure he did ask for some faster movement in this direction. Just last week the Chinese government announced that the Yuan was “ free to float with a .5% band either side of the daily close.” Hmmmm, that would mean that if the Chinese allowed to happen, what they said could happen, in two months time the Yuan would theoretically be 20% higher versus the USD. The problem with this idea is that the Government is possibly intervening prior to the band extreme. If you review the amount of appreciation versus the dollar when the band was .3 % around the daily close, the Yuan rarely appreciated more than .15% or half the allowable movement. While we are not stating the Chinese are doing anything of a nefarious nature, it does seem rather interesting that there was not enough momentum for any prolonged period of time where the purchase of Yuan forced the daily revaluation limit.
  • #13,473
  • May 23, 2007 6:46pm May 23, 2007 6:46pm
Daily MACD on GBPUSD has been bearish since April 24 and true enough, GBPUSD dropped from 2.000 to mid 1.96.

But Yesterday, D1 MACD turned blue (Bullish). If this keeps up, GBPUSD could go up back to 2 once more.
  • #13,474
  • May 23, 2007 6:51pm May 23, 2007 6:51pm
Quoting cesarnc
Treasury secretary Paulson invited 100 of his best friends from China over to the US to talk about trade. Let’s be honest. What this meeting was all about was a plea by Mr. P to allow the Chinese currency, the Yuan, to be allowed to appreciate in a more open, freer market. While I do not think Mr. P explicitly requested a 40% reval as some US senators are calling for, we are sure he did ask for some faster movement in this direction. Just last week the Chinese government announced that the Yuan was “ free to float with a .5% band either side of the daily close.” Hmmmm, that would mean that if the Chinese allowed to happen, what they said could happen, in two months time the Yuan would theoretically be 20% higher versus the USD. The problem with this idea is that the Government is possibly intervening prior to the band extreme. If you review the amount of appreciation versus the dollar when the band was .3 % around the daily close, the Yuan rarely appreciated more than .15% or half the allowable movement. While we are not stating the Chinese are doing anything of a nefarious nature, it does seem rather interesting that there was not enough momentum for any prolonged period of time where the purchase of Yuan forced the daily revaluation limit.

40% ??

Geee. The chinese could sell all their USD FX reserve and convert to Yuan, then appreciate the Yuan by 40%, and thereafter BUY a big piece of US soil. Now that would be cheap real estate.

As the saying goes, "be careful of what you wished for".

I reiterate, this happend in the late 80s when the Japanese were forced to appreciate their Yen and started buying US companies and properties to the disgusto of US citizens. Right now, China is buying US companies starting with BlackStone.
  • #13,475
  • May 23, 2007 8:28pm May 23, 2007 8:28pm
Quoting BurgerKing
Daily MACD on GBPUSD has been bearish since April 24 and true enough, GBPUSD dropped from 2.000 to mid 1.96.

But Yesterday, D1 MACD turned blue (Bullish). If this keeps up, GBPUSD could go up back to 2 once more.
MACD may have turn bearish April 24 but there was already 3 down closes in row from the top before MACD showed itself.

BTW are you using the standard 12/26/9 settings or something a little shorter.
  • #13,476
  • May 23, 2007 8:52pm May 23, 2007 8:52pm
Quoting gobigo12
I love F-1, but some tracks aren't the best when all the cars are set up right.
you should try watching Moto GP. it's way more exciting without all the fluff !
http://www.bpa-sportpresse.de/mag/po...otoGP_0405.jpghttp://www.moto-net.com/images/motog...shanghai_s.jpg
Yes. I Agree
  • #13,477
  • May 23, 2007 10:42pm May 23, 2007 10:42pm
Quoting SunTrader
Former Fed Chairman Greenspan reportedly says he fears another "dramatic contraction" in Chinese stocks after "unsustainable" rally.

He needs to move here in South Florida and play shuffle board/mah jong/bocci ball something besides run his mouth.
probabaly this guy, big mouth, wrong again. he doesn't know What is Chinese Bubble, too early to say that.
  • #13,478
  • May 23, 2007 11:28pm May 23, 2007 11:28pm
So who trades the London Breakout? I've just started watching this method the past week or so and find it only marginally successful. So the high/low has been completed for the 'set' 4hr candle just this past hourly close? Am I correct? High: 1.9866 Low: 1.9853. All there is to wait for this new 4hr candle to break the high/low and trade with it. Yesterday would have been a few whipsaws for stop losses before the true breakout occurred and it was pretty big. Maybe big enough to make up for the false moves that would/could have resulted in small losses.

Anybody trade this method and have any suggestions or filters to help weed out the phony baloney breakouts?
  • #13,479
  • May 24, 2007 12:58am May 24, 2007 12:58am
I remember Monarch doing work some months ago on the opening ranges around the London Open, so you could look at his thread - Daily Cable (GBPUSD) Analysys.

Last year I spent six months with a group of News Traders and we often got good scalp trades of 10/20 pips during the "Frankfurt Hour" - but now the whole of cable´s range has contracted and there is seldom sufficient activity to make this profitable - we were trading off a 1 min chart for this period.
Trading Levels with WRBs
  • #13,480
  • May 24, 2007 1:07am May 24, 2007 1:07am
55 mins to the London market opening ... I've made mistake opening position just before London market close yesterday .. hope today will be a great day again!
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