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Cable Update (GBPUSD)

  • #13,981
  • May 30, 2007 8:46am May 30, 2007 8:46am
Quoting afirozia
RED because lower than forecasted value ... I think. The next question is where cable will go? up or down? if compared to previous value, cable should go down .. theoretically of course.
No, you said yourself, lower than forcasted, then we should expect cable go up also at daily time frame cable hit daily trend line I am bulish on cable now

wait for fomc
  • #13,982
  • May 30, 2007 8:55am May 30, 2007 8:55am
Quoting PandoraBox
DJIA down about 55 pts in the first few minutes, which is in line with futures,
Your right that was to be expected, its wether it starts regaining from -55 is what im looking at. I prefer the S&P as it has alot more companies making up this index and I believe gives a broader picture.

Current prices are DJIA -46
S&P -4.5

Both have made gains since open (from futures price)
cable looks to be rising

since writing 5 mins ago

DOW now -35
S&P - 3.25
cable 1.9769
  • #13,983
  • May 30, 2007 9:01am May 30, 2007 9:01am
Quoting esmondy
hello brav,the cable is at 1.9752 at the moment.
in your opinion,do u tink it could still get to 9700.

reply would be appreciated.
i have no idea. which is why i am not holding any positions on this pair. it could go either way.

i would look for a break above 9890 to consider going long.

as far as going short, you can wait for it to test the 9790-9810 area (and resistance there of) or short anywhere below that level (use money management and calculate your risk.

shorting IS in your favor at the moment, short term.

first target for consideration is the recent low @ 9680 and good probability lower.
BAM BAM BOOM! -bravado
  • #13,984
  • May 30, 2007 9:09am May 30, 2007 9:09am
Quoting esmondy
hello brav,the cable is at 1.9752 at the moment.
in your opinion,do u tink it could still get to 9700.

reply would be appreciated.
Not that you asked me, but I thought I'd respond. I have a PT at 9700 and I do think it will make it to 9700, but not right away. It may not be until tomorrow or the next day. I shorted it at 9810 with a PT at 9700 and SL at 9850. I took a profit on half position at 9740 (when RSI hit oversold on 1hr) and trailed SL a little to 9840 so it's still clear of all the moving 1hr moving averages.It's in a nice downtrend channel and 9700 is well in it's way to continue it's descent. Barring any big news to give it a sharp spike up, it should continue to fall past 9700 in the next few days.My two cents..........and i'm out.
  • #13,985
  • May 30, 2007 9:10am May 30, 2007 9:10am
Waiting for NFP speculation to kick in. Then FOMC should trigger the break in the daily trendline.
  • #13,986
  • May 30, 2007 10:03am May 30, 2007 10:03am
Quoting Takisd
Waiting for NFP speculation to kick in. Then FOMC should trigger the break in the daily trendline.

Hi Guys,

Newbie in regards to the S&P 500, DOW etc. but not Forex. I gather that there is some correlation between the Stocks and FX as you guys have been quoting.
Therefore if the Stocks (S&P 500, DOW) is opening up, does that mean likewise the Forex; but what pair? GBP/USD, EUR/USD, GBP/JPY etc.

Thanks in advance
  • #13,987
  • May 30, 2007 10:18am May 30, 2007 10:18am
Quoting Kenu
Hi Guys,

Newbie in regards to the S&P 500, DOW etc. but not Forex. I gather that there is some correlation between the Stocks and FX as you guys have been quoting.
Therefore if the Stocks (S&P 500, DOW) is opening up, does that mean likewise the Forex; but what pair? GBP/USD, EUR/USD, GBP/JPY etc.

Thanks in advance
try this DOW
  • #13,988
  • May 30, 2007 10:30am May 30, 2007 10:30am
Quoting Kenu
Hi Guys,

Newbie in regards to the S&P 500, DOW etc. but not Forex. I gather that there is some correlation between the Stocks and FX as you guys have been quoting.
Therefore if the Stocks (S&P 500, DOW) is opening up, does that mean likewise the Forex; but what pair? GBP/USD, EUR/USD, GBP/JPY etc.

Thanks in advance
If you are looking for cheap pips, i would suggest not trying this. You are best to keep things simple.
  • #13,989
  • May 30, 2007 11:04am May 30, 2007 11:04am
Talking about the DOW and S&P is it just me or does the dollar do better when they they do poorly? Most the books I've read say the opposite, but that's not my observation.
  • #13,990
  • May 30, 2007 11:38am May 30, 2007 11:38am
i didn't see anything significant after NFP release, all the fun happened a couple of hours before.
well, looks like big guys are waiting for FOMC... or something else.
i can't stop wondering how useful is any analysis, technical or fundamental. looks like the price is made by who has more money.

Quoting Takisd
Waiting for NFP speculation to kick in. Then FOMC should trigger the break in the daily trendline.
Nihil Sine Deo.
  • #13,991
  • May 30, 2007 11:42am May 30, 2007 11:42am
Quoting Scrat
i didn't see anything significant after NFP release, all the fun happened a couple of hours before.
well, looks like big guys are waiting for FOMC... or something else.
i can't stop wondering how useful is any analysis, technical or fundamental. looks like the price is made by who has more money.
You got it right.. the price is determined by the BIG GUYS - the multi-million dollar investors. THEY are the ONLY ones who know where the market is going.... wish we can talk to some of them to get some insight!
  • #13,992
  • May 30, 2007 11:53am May 30, 2007 11:53am
Hi guys, im brand new to the game... Im currently in a short trade (is that a sell?) on the GBP/USD. Been in for about 3 hours already. I'm not sure what to do as i realise there is big news coming out and im still 8 pips down. Suggestions please???
  • #13,993
  • May 30, 2007 11:54am May 30, 2007 11:54am
Quoting I Wanna Trade
Thanks for the input. Can I ask where you got the SL and PT marks you mentioned? I put my SL at 1.9850 as that's at least 5 pips above 3 out of 4 of my moving averages (20, 50, 100) on the 1hr chart. I put my PT at 1.9700 because that's about where the 100 SMA is on the daily. But I can always raise the SL and take a half order PT at 1.9700. I was just wondering where you got your numbers from.

Thanks.

I used slight different indicators. EMA 4 ,13 ,50. and from what i draw on my chart. and my general rules like: when seeing a potential "Low" "up" chances, i normally use golden rate: 1.236, 1.318, 1.5 times previous trading ranges to work out the profit taking level.

cheers
  • #13,994
  • May 30, 2007 11:55am May 30, 2007 11:55am
Yeah! the truth. Past two weeks both fundamental and analysis are unreliable.
Sometimes it's a matter your sense of judgement. You know what I mean?

Quoting Scrat
i didn't see anything significant after NFP release, all the fun happened a couple of hours before.
well, looks like big guys are waiting for FOMC... or something else.
i can't stop wondering how useful is any analysis, technical or fundamental. looks like the price is made by who has more money.
Start trading everyday with a simple mind, and everything seems very clear!
  • #13,995
  • May 30, 2007 12:01pm May 30, 2007 12:01pm
I dont know how to explain this but you have do to some extra homework on who,when,where and why? And your chances of surviving will be a bit higher.
Start trading everyday with a simple mind, and everything seems very clear!
  • #13,996
  • May 30, 2007 12:03pm May 30, 2007 12:03pm
so then wth are we all doing here talking about indicators, patterns and news? all we really need is an insider.
and who has the big money anyway?
Nihil Sine Deo.
  • #13,997
  • May 30, 2007 12:06pm May 30, 2007 12:06pm
What is the long term trend for the GBP?? is it still long?? when do we know that it has shifted to short?
  • #13,998
  • May 30, 2007 12:08pm May 30, 2007 12:08pm
define long term.

Quoting ashlee_17
What is the long term trend for the GBP?? is it still long?? when do we know that it has shifted to short?
Nihil Sine Deo.
  • #13,999
  • May 30, 2007 12:20pm May 30, 2007 12:20pm
We have always learned to "go with the trend - not against it".. THAT trend is what I meant.
  • #14,000
  • May 30, 2007 12:22pm May 30, 2007 12:22pm
OH DEAR....

I smell fomc usd positive.. But will not bet on it.. Have a buy stop and sell stop in place.. Just waiting for the spikes.
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