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Cable Update (GBPUSD)

  • #14,781
  • Jun 12, 2007 10:52am Jun 12, 2007 10:52am
Quoting cesarnc
Tricky bastard...

False breakout up before, now breaking the channel again.... I'll go short at 9800 area if such. Otherwise, out...

Creepy SOB pair today.
Sorry, bad channel in the previous chart. The upper trendline got to be a little bit up. 9776 is top of the channel, not break. Yet?
  • #14,782
  • Jun 12, 2007 10:53am Jun 12, 2007 10:53am
Cable might move again to reach 1.9790-800 if it continues it's crazy unexpected moves in a deadly hour
  • #14,783
  • Jun 12, 2007 10:53am Jun 12, 2007 10:53am
Level II trade...

Have a look on the spread and system queue.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 45 KB
  • #14,784
  • Jun 12, 2007 10:53am Jun 12, 2007 10:53am
Quoting zamans98
How GBP/USD is not on the 1.98 handle on a day when EUR/GBP bites the dust is beyond us...Resistance now in the cross at .6770

Aye I've been watching e/g, not shorting g/u until e/g shows signs of turning.
  • #14,785
  • Jun 12, 2007 10:54am Jun 12, 2007 10:54am
Quoting fx1711
cesar how would u confirm if its a false break out..i suppose u would use a tight SL? the way things are going (strong for cable) i wouldnt be surprised if it pass thru? thoughts?
No, the false breakout I talked about was the previous one.

I'm now looking at the 4h 250EMA area (9800 area) as s/t resistance (now at 9800 area)....

So far, just watching the nonsense. No idea if I'll jump short and at which price.
  • #14,786
  • Jun 12, 2007 11:03am Jun 12, 2007 11:03am
This Pair didn't bring 40 pips during the last NFP report, and now it jumped 40+ pips in a deadly hour
  • #14,787
  • Jun 12, 2007 11:04am Jun 12, 2007 11:04am
Quoting pino2
This Pair didn't bring 40 pips during the last NFP report, and now it jumped 40+ pips in a deadly hour

I see 1.9784/85 in the Level II queue..

Hmm
Attached Image (click to enlarge)
Click to Enlarge Name: L2GU.jpg Size: 41 KB
  • #14,788
  • Jun 12, 2007 11:05am Jun 12, 2007 11:05am
1.9788 is the 50% retracement of the move from 1.9954 to 1.9621 might be a good short area
Patience + Humility + Study = Success
  • #14,789
  • Jun 12, 2007 11:06am Jun 12, 2007 11:06am
Sometimes I just want to throw my hands up in the air, threw me for a loop this afternoon....
  • #14,790
  • Jun 12, 2007 11:07am Jun 12, 2007 11:07am
Those who have bought down in the sweet areas as described by scrat & myself on this thread, you might want to watch very closely once it gets to 1.9820-1.9830. Lots of psychological barriers there (fibs) and also the median of various mathematical tunnels. We are in a downtrend, bulls shouldnt be overly greedy! 130 pips isn't bad
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #14,791
  • Jun 12, 2007 11:10am Jun 12, 2007 11:10am
Quoting Plutonite
Those who have bought down in the sweet areas as described by scrat & myself on this thread, you might want to watch very closely once it gets to 1.9820-1.9830. Lots of psychological barriers there (fibs) and also the median of various mathematical tunnels. We are in a downtrend, bulls shouldnt be overly greedy! 130 pips isn't bad
Some strange move out of nowhere. Just cannot understand as to why.
Someone is repairing the cable and did it fast...
  • #14,792
  • Jun 12, 2007 11:14am Jun 12, 2007 11:14am
DOW is green now, from red of about 70pts..
  • #14,793
  • Jun 12, 2007 11:17am Jun 12, 2007 11:17am
Closed trade -25 pips, don't like the feel of this one.
  • #14,794
  • Jun 12, 2007 11:24am Jun 12, 2007 11:24am
Quoting zamans98
Some strange move out of nowhere. Just cannot understand as to why.
Someone is repairing the cable and did it fast...
Don't try to understand, the market has a million factors operating on it at any one time, and most of them are not even speculative. Maybe someone bought some british electronics for use in Boeing, or maybe the British factories made a multi million dollar order for japanese parts.. you can't understand these things. They just happen. We do our best using the LEAST assumptions possible and the rest is on God.

As for all of you complaining, this has been an extremely logical 2 weeks. Last week tons of people made lots of cash, and this week I am already 250 pips up on this and GJ. Scrat is even more probably. I am just saying this not to brag, but because once you simplify things and drop all the huge quantum mechanical nano-economic assumptions, life becomes good.

Good luck.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #14,795
  • Jun 12, 2007 11:25am Jun 12, 2007 11:25am
Quoting Plutonite
Don't try to understand, the market has a million factors operating on it at any one time, and most of them are not even speculative. Maybe someone bought some british electronics for use in Boeing, or maybe the British factories made a multi million dollar order for japanese parts.. you can't understand these things. They just happen. We do our best using the LEAST assumptions possible and the rest is on God.

As for all of you complaining, this has been an extremely logical 2 weeks. Last week tons of people made lots of cash, and this week I am already 250 pips up on this and GJ. Scrat is even more probably. I am just saying this not to brag, but because once you simplify things and drop all the huge quantum mechanical nano-economic assumptions, life becomes good.

Good luck.
And so endeth the Gospel, let us pip!
Patience + Humility + Study = Success
  • #14,796
  • Jun 12, 2007 11:33am Jun 12, 2007 11:33am
I think the big guys are diverging some money from the stock market into forex !!!!

For a guy like me who works with a grid, those ups and downs are GREAT !!!!!
For he that would be deceived, let him.
  • #14,797
  • Jun 12, 2007 11:44am Jun 12, 2007 11:44am
Quoting Turtle
Sometimes I just want to throw my hands up in the air..
throw your hands up in the air and act like you just don't care! woop woop.
BAM BAM BOOM! -bravado
  • #14,798
  • Jun 12, 2007 11:47am Jun 12, 2007 11:47am
Quoting zamans98
DOW is green now, from red of about 70pts..
Back to red -60 now.... go figure
  • #14,799
  • Jun 12, 2007 11:49am Jun 12, 2007 11:49am
Maybe Cable forgot to do this jump during the day, but it remembered lately, so it decided to do it now, and then it went down again.
  • #14,800
  • Jun 12, 2007 11:50am Jun 12, 2007 11:50am
here ye. hear ye. cable luvers.

lots of pipis to be made on other pairs.
BAM BAM BOOM! -bravado
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