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Cable Update (GBPUSD)

  • #16,741
  • Jul 2, 2007 10:40am Jul 2, 2007 10:40am
2.0500 Soon !!!!
  • #16,742
  • Jul 2, 2007 10:41am Jul 2, 2007 10:41am
Quoting el_duende
Sure it is! Mr Brown hand picked 4 of the voting members on BOE committee. He has no input what so ever in monetry decisions because he and labour are renowned for their honesty!
I suppose we'll see on Thursday.
I've got my pips - go get yours!
  • #16,743
  • Jul 2, 2007 10:45am Jul 2, 2007 10:45am
Quoting WTB
Attacks happened over the weekend. If there was to be any panic and massive sell-off due to those attacks, we would have seen a huge drop down upon sunday evening markets opening. But we havent, and in fact, cable has made new highs today.

So it doesnt seem like sticking to your guns is very wise at this time unless we get a confirmed reversal formation off the 2.0130 historical high, which as of right now I see non of that in my chart.
I have been to Glasgow airport - the only thing that would panic the nation is the idea of being stuck there for 24 hours.
  • #16,744
  • Jul 2, 2007 10:45am Jul 2, 2007 10:45am
Quoting goonergonebad
If you are that brilliant why not advise rather that ply sarcasm and unwanted price action affiliations.
Since price action reasons aren't wanted I obviously can't explain since all my charts show IS price

(Different) prices are the reason price moves..and that's not a redundant statement
Trust price. Know yourself.
  • #16,745
  • Jul 2, 2007 10:46am Jul 2, 2007 10:46am
it is going up ? is it true ? 2.0500 Soon !!!! ? or maybe came back soon ? plz some body help me ... because in indicators i see that it is buy ...
byebye costly moments.
  • #16,746
  • Jul 2, 2007 10:47am Jul 2, 2007 10:47am
I just CANNOT believe that after last week's discussion and after having seen many shorters being stopped out OVER AND OVER again, some folks are still trying to short this market. I SERIOUSLY cannot believe it.

Please have a look at the chart below and tell where exactly does it say "bearish". Where?!?!?!

Oh well, +320 pips and it keeps raising. I value my money way to much to short this market for the time being.
Attached Image
  • #16,747
  • Jul 2, 2007 10:47am Jul 2, 2007 10:47am
10 yr @ 5.00% and falling. USD-index lowest since Ancient Greece.

Odds in favour of selloff acceleration. USD selloff.
  • #16,748
  • Jul 2, 2007 10:49am Jul 2, 2007 10:49am
Quoting WTB
I just CANNOT believe that after last week's discussion and after having seen many shorters being stopped out OVER AND OVER again, some folks are still trying to short this market. I SERIOUSLY cannot believe it.

Please have a look at the chart below and tell where exactly does it say "bearish". Where?!?!?!

Oh well, +320 pips and it keeps raising. I value my money way to much to short this market for the time being.


I hear you.
  • #16,749
  • Jul 2, 2007 10:50am Jul 2, 2007 10:50am
Quoting WTB
I just CANNOT believe that after last week's discussion and after having seen many shorters being stopped out OVER AND OVER again, some folks are still trying to short this market. I SERIOUSLY cannot believe it.

Please have a look at the chart below and tell where exactly does it say "bearish". Where?!?!?!

Oh well, +320 pips and it keeps raising. I value my money way to much to short this market for the time being.
Nice try WTB, you just got your name in the Bearish Cable Church's hitlist.

I have already packed and got a phony passaport. I'm a runaway at first Mercedes parking in front of my building. I advise you start packing.
  • #16,750
  • Jul 2, 2007 10:51am Jul 2, 2007 10:51am
Quoting WTB
Please have a look at the chart below and tell where exactly does it say "bearish". Where?!?!?!
That's how these threads work

People(especially beginners) don't trade what they see, they trade what they think - exactly the wrong way around
Trust price. Know yourself.
  • #16,751
  • Jul 2, 2007 10:58am Jul 2, 2007 10:58am
Quoting cesarnc
C'mon gooner. 100 pips range and climbing, break of year's high. How can SHORT be in order of the day?
I know.. - New highs\standards set. Yipeeeee. I also know that traders like to reach new milestones, almost like a hobby. Probably other reasons, etc... BUT - I always fall for the hope that the market is sensible and then I realise that there are empowered people out there (in the real world), people who are entrusted with trading vast sums of money (not their own), people who bay at the moon with the rest of the great unwashed institutional traders and manage to earn vast sums of money for delivering JS.
This enigma and actual, real world technicals, aside - I cannot see how the UK is a safer haven for investing in currency than the USA.
Just like the US, we have got major problems here and I feel a major correction is not too far off.
Now if we were comparing the US to Germany that would be a different story.

Any way I lost 40 pips - not the first time and definitely not the last. I will recoup it together with many more pips on the great march south. Sooner than some people may think.
  • #16,752
  • Jul 2, 2007 10:58am Jul 2, 2007 10:58am
I can not belive it too . :
It is going up ... Ithink it is going up too 2.0180 ... but do not trade with my say ... I can feel it...
byebye costly moments.
  • #16,753
  • Jul 2, 2007 10:59am Jul 2, 2007 10:59am
Quoting cesarnc
I expect no-change. This will fit BOE's "wait-and-see" strategy and CPIs are 3.1%, 2.8% and 2.5%. Maybe another strong CPI inspires BOE to raise.

BOE is extremely cautious as not to overkill with these hikes, you know?

In case of no-chage, correction from this last run is indeed expected.

FED is not taken as "biased for a hike", after the last statement. That's why dollar is getting hit like a toothless dog since Friday.
IMO, whatever the outcome of BOE decision, the market will find an excuse to lock in this huge runup profits come Thursday or latest, Friday at NFP.
  • #16,754
  • Jul 2, 2007 11:02am Jul 2, 2007 11:02am
Quoting manu.aquetdju
2.0500 Soon !!!!
Actually, all the posts I have seen, say that sort of level is not justified and is not on the horizon - but everyone who is just 'joe public' would take a look at the - say 2 year graph- and say 2.05 is a certainty in the next few months..

How come everyone is so certain that 2.02 ish is the magic number and is the top ?

I thought nobody rings a bell at the top and nobody rings a bell at the bottom ?

why should a 2 year run stop now ? if the fundamentals people are right and just interest rate differentials are not the whole story, then this lot might have much further to run - yes the Chinese etc would hurt themselves by withdrawing support, but the first ones out would be ok and they are the ones who could start the momentum and spook the big players into getting out what they could....
  • #16,755
  • Jul 2, 2007 11:05am Jul 2, 2007 11:05am
Quoting SeekingLight
That's how these threads work

People(especially beginners) don't trade what they see, they trade what they think - exactly the wrong way around
SeekingLight--you are exactly correct. The ONLY way to trade is to trade what you see. Jacko ia a must read for all.
  • #16,756
  • Jul 2, 2007 11:05am Jul 2, 2007 11:05am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
15:34 GBP/USD: Surges Through Yearly Highs on Fresh Buying New York, July 2. The previous yearly highs by 2.0135 have been easily taken out today with the pair currently trading by the mid-figure at 2.0150. Dealers report a combination of triggered stops and fresh real money/model interest on the break of 2.0135. Little in the way of resistance until 2.0190-2.0200 from where technical and option related levels see fresh sell interest.

Just read this. seems nothing in the way before .0190 at least. could anyone enlighten the new trader hear on this statement, do you think it is fact based or opinion.
  • #16,757
  • Jul 2, 2007 11:06am Jul 2, 2007 11:06am
Quoting allserene
Actually, all the posts I have seen, say that sort of level is not justified and is not on the horizon - but everyone who is just 'joe public' would take a look at the - say 2 year graph- and say 2.05 is a certainty in the next few months..

How come everyone is so certain that 2.02 ish is the magic number and is the top ?

I thought nobody rings a bell at the top and nobody rings a bell at the bottom ?

why should a 2 year run stop now ? if the fundamentals people are right and just interest rate differentials are not the whole story, then this lot might have much further to run - yes the Chinese etc would hurt themselves by withdrawing support, but the first ones out would be ok and they are the ones who could start the momentum and spook the big players into getting out what they could....
Ah classic..its always the same story, when currency starts making new highs or low against usd, its always not high or low enought and all these what ifs...eventually it wont sustain the breakout and always return to its comfort level...
  • #16,758
  • Jul 2, 2007 11:08am Jul 2, 2007 11:08am
Quoting cesarnc
Nice try WTB, you just got your name in the Bearish Cable Church's hitlist.

I have already packed and got a phony passaport. I'm a runaway at first Mercedes parking in front of my building. I advise you start packing.
WTB is by all accounts (see website - excellent freebies) a conservative trader who is also an extremely successful trader who waits for the charts to tell him a new direction. However, it is time now WTB to take your profits and plan for a new direction. May you live long and prosper on your journey south...
  • #16,759
  • Jul 2, 2007 11:09am Jul 2, 2007 11:09am
impressive run of Cable...
+ ISM News
- "terrorist" attack

But cable UP?
  • #16,760
  • Jul 2, 2007 11:11am Jul 2, 2007 11:11am
Quoting MPP
Just read this. seems nothing in the way before .0190 at least. could anyone enlighten the new trader hear on this statement, do you think it is fact based or opinion.
No matter what people say, it is irrelevant. Important is what happens on the chart.

Understand: resistance does not equal reversal. Things move one way until they say (price..) they will move the other.

That's all there is to it. Anything else is meaningless and just delays, fuzz, noise, rumble.
Trust price. Know yourself.
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