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Cable Update (GBPUSD)

  • #14,861
  • Jun 13, 2007 8:00am Jun 13, 2007 8:00am
Quoting pino2
US reports came better than expected so prices went down accordingly and reached 1.9678, untill now everything isnormal, but WHYYYY it jumped to 1.9706, this report when comes better than expected it brings like 40+ pips in the 1st hour after the report is released, but prices where at 1.9700 the time the report was released, and it felt to 1.9678, so only 22 pips out of 40+, in addition it jumped after that to 1.9706, and then it felt now to 1.9685 again, usually pivoting the pair comes in the following hour of the report, not in the same hour, there is something I can't understand

I sometimes have a feeling of trading against news results.
  • #14,862
  • Jun 13, 2007 8:11am Jun 13, 2007 8:11am
As they say: it ain't over till the fat lady sings http://www.forexfactory.com/images/icons/icon12.gif
  • #14,863
  • Jun 13, 2007 8:18am Jun 13, 2007 8:18am
The USD index has cleared the major trendline resistance dating back to Oct 2006 and this suggests a larger dollar rally is set to unfold. Back in the day, we would probably already be a big figure higher in the USD, but market moves seem to take longer these days with all the cross action. Currencies are following the lead of the bond and equity markets for now, but if this break higher is sutained on a weekly closing basis, we would expect more significant USD gains in the weeks ahead
  • #14,864
  • Jun 13, 2007 8:45am Jun 13, 2007 8:45am
We also have an hourly CCI just short of -100, until we break this we will stay here awhile. Time for a cuppa I think.
  • #14,865
  • Jun 13, 2007 9:13am Jun 13, 2007 9:13am
its been a few months since I started trading but to be honest today was a strange one... Such a strong economic growth for USA, at least in my opinion, good retail sales but a barely change in DOLLAR??? yet the small change in business inventerios suddenly pushed cable to 1.9706... Come on cable... You gotta go down to higher 1.9500s... At least its supposed to... I would be so dissapointed if the cable goes to higher 1.9700s after today... not that I did not loose money before but not like this...
  • #14,866
  • Jun 13, 2007 9:31am Jun 13, 2007 9:31am
Quoting Alfa159
its been a few months since I started trading but to be honest today was a strange one... Such a strong economic growth for USA, at least in my opinion, good retail sales but a barely change in DOLLAR??? yet the small change in business inventerios suddenly pushed cable to 1.9706... Come on cable... You gotta go down to higher 1.9500s... At least its supposed to... I would be so dissapointed if the cable goes to higher 1.9700s after today... not that I did not loose money before but not like this...
Alfa159,
Cable could not go lower than 1.9675. 1.9765 is a strong support I believe. The Uk news and america news could not send it lower, so it had to go up.
  • #14,867
  • Jun 13, 2007 9:36am Jun 13, 2007 9:36am
there are 2 more days with very important news for usd. i figured that's why big guys didn't want to short g-u yet. even if gbp news were bad and usd news so far were good. and expect more up at the slightest sign of usd weakness. right now it's all speculation.
now if you look at the pattern, i think it clearly shows a pull down. the fact that it didn't drop when and as much as it was supposed to should tell you to be careful and look for a better short positioning.
same think goes for g-j these days. i'm waiting for a nice drop.

Quoting Alfa159
its been a few months since I started trading but to be honest today was a strange one... Such a strong economic growth for USA, at least in my opinion, good retail sales but a barely change in DOLLAR??? yet the small change in business inventerios suddenly pushed cable to 1.9706... Come on cable... You gotta go down to higher 1.9500s... At least its supposed to... I would be so dissapointed if the cable goes to higher 1.9700s after today... not that I did not loose money before but not like this...
Nihil Sine Deo.
  • #14,868
  • Jun 13, 2007 9:40am Jun 13, 2007 9:40am
thats truee... now that I am checking once again.... 1.9675 has been a strong point even back in January... not lately besides today... Only on June 8th its been breached for around 35 pips but than went north again... Too bad for my daily and weekly studies... It seems like they will be changing towars north but still need to observe a little bit more... Gosh I wonder if the numbers today was bad than cable would suddenly jumtp to higher 1.9700s in a few minutes.
  • #14,869
  • Jun 13, 2007 9:48am Jun 13, 2007 9:48am
cable is sooo funny
  • #14,870
  • Jun 13, 2007 9:50am Jun 13, 2007 9:50am
The only think what i want to know is where to put SL for my shorts at this moment...
  • #14,871
  • Jun 13, 2007 9:51am Jun 13, 2007 9:51am
So Scrat, you are also assuming a drop in GBPUSD but just not yet??? Also I am waiting the 1.9737 level not to be breached... I still have my short position open but will close it if the pair goes above 1.9737... I would than probably rest a week if the pair drops down dramaticaly after breaching that level... However My dailies are almost showing North right now. Also I have a feeling that the pair might travel between 1.9737 and 1.9700 untill tomorrow, but thats just a feeling.
  • #14,872
  • Jun 13, 2007 9:58am Jun 13, 2007 9:58am
Definitely 900 pages of useless opinion in the 1000 pages.

Somebody says stop hunting and next it will drop like a rock. Next one says Exactly.

It then proceeds to go higher. Duh.!!!

Every trade is always a best guess based on probabilities. But just pure guessing should be kept to yourself.

I wonder if the poster was taken out of a trade by the stop placement. Thats always a the wrong time to be judging the market movement when your stop is hit by having it in a vulnerable spot and then blaming "stop hunting brokers".
  • #14,873
  • Jun 13, 2007 10:00am Jun 13, 2007 10:00am
If everyone short who is gonna go long? How to do business like that? Surely one side must lose.Then one moment, go long then short then long. So it's "driving range".Gotta have faith in yourself but not too much
Start trading everyday with a simple mind, and everything seems very clear!
  • #14,874
  • Jun 13, 2007 10:09am Jun 13, 2007 10:09am
Ah yes! The stop hunt.Do realize if you put SL at a level then it exactly get hit then reverse!I'm sure a lot of us do. Instead why dont enter a trade that goes to that level! Think about ithttp://www.forexfactory.com/images/icons/icon10.gif

As some say SL are designed to be hit!

Quoting SunTrader
Definitely 900 pages of useless opinion in the 1000 pages.

Somebody says stop hunting and next it will drop like a rock. Next one says Exactly.

It then proceeds to go higher. Duh.!!!

Every trade is always a best guess based on probabilities. But just pure guessing should be kept to yourself.

I wonder if the poster was taken out of a trade by the stop placement. Thats always a the wrong time to be judging the market movement when your stop is hit by having it in a vulnerable spot and then blaming "stop hunting brokers".
Start trading everyday with a simple mind, and everything seems very clear!
  • #14,875
  • Jun 13, 2007 10:10am Jun 13, 2007 10:10am
This Friday, USD will start making a good move to pull everything down.

This is the time that they will win, remember most of the currencies at their multiple year high. So, time to cool off a bit
  • #14,876
  • Jun 13, 2007 10:11am Jun 13, 2007 10:11am
here's a daily chart. show me where is the sign that almost shows north. i see a lot of lower highs and lower lows (not all of them, but plenty to give me a feeling that we're in a downtrend).

Quoting Alfa159
So Scrat, you are also assuming a drop in GBPUSD but just not yet??? Also I am waiting the 1.9737 level not to be breached... I still have my short position open but will close it if the pair goes above 1.9737... I would than probably rest a week if the pair drops down dramaticaly after breaching that level... However My dailies are almost showing North right now. Also I have a feeling that the pair might travel between 1.9737 and 1.9700 untill tomorrow, but thats just a feeling.
Attached Image (click to enlarge)
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Nihil Sine Deo.
  • #14,877
  • Jun 13, 2007 10:20am Jun 13, 2007 10:20am
nonee... because i wrote wrong... my HOURLIES are almost showing north... but not yet... a little bit more rise would show me north... but in my 4H studies I am seeing that it will stuck between 1.9737 and 1.9700 for the next few hours... If i only knew how to take a screenshot...
  • #14,878
  • Jun 13, 2007 10:20am Jun 13, 2007 10:20am
when everything points down (even news!), who do you think it's going long and drives the price up?

Quoting Razorstooth
If everyone short who is gonna go long? How to do business like that? Surely one side must lose.Then one moment, go long then short then long. So it's "driving range".Gotta have faith in yourself but not too much
Nihil Sine Deo.
  • #14,879
  • Jun 13, 2007 10:25am Jun 13, 2007 10:25am
if you're using metatrader, right click on your chart, save as picture, active chart 800x600. then upload it here.
if you're using another chart, use "print screen" key on your keyboard, then open Paint, paste, and save.
as for h1 chart, there's 1.9735 and then 1.9748 that have to be broken.

Quoting Alfa159
nonee... because i wrote wrong... my HOURLIES are almost showing north... but not yet... a little bit more rise would show me north... but in my 4H studies I am seeing that it will stuck between 1.9737 and 1.9700... If i only knew how to take a screenshot...
Nihil Sine Deo.
  • #14,880
  • Jun 13, 2007 10:34am Jun 13, 2007 10:34am
here... i will just hopefully wait that it doesnt breach 1.9737... no offense for people who is in Long position.

as I said... seems it will travel between 1.9737 and 1.9700 for a few hours...
Attached Image (click to enlarge)
Click to Enlarge Name: a.jpg Size: 65 KB
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