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Cable Update (GBPUSD)

  • #16,761
  • Jul 2, 2007 11:14am Jul 2, 2007 11:14am
Quoting MPP
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.
I am hope to go to 2.0190 ... I am so hope ...
I wish that go there ...
Is it possible ?
Who now that ?
Now it is in 2.0152 ...

I opened have buy order on 2.0165 ! ...

I have a small dread ...
byebye costly moments.
  • #16,762
  • Jul 2, 2007 11:18am Jul 2, 2007 11:18am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting SeekingLight
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.


Trouble is my charts show resistance around .0176 and this info is conflickting with it, at some point this has got to breath before the next climb and my charts are not that good at the moment, i have this problem of not maximising my pips as I either leave to early or to late.

as a rule I follow the trend, but would like to catch the turning point more acuratly.
  • #16,763
  • Jul 2, 2007 11:19am Jul 2, 2007 11:19am
Quoting cesarnc
C'mon gooner. 100 pips range and climbing, break of year's high. How can SHORT be in order of the day?
It can't, that would be suicide right now. I was short EU and barely made it out alive before the news breakout, which took out the precious top and several highs. Rule is: if your top gets taken out, enter long with the tide.

Closed all longs on USD news though. There is clear resistance at the moment. I think it may be safe to enter long on GJ and UJ once the market starts reversing the dollar dip. GU short only after 4 hours of bearishness

Good luck.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #16,764
  • Jul 2, 2007 11:19am Jul 2, 2007 11:19am
For the 2.0160th time, could anybody please show one single chart where a "HUGE SELLOFF, TARGET 9750, GOING DOWN, SOONER THAN YOU MAY THINK " is shown?

Please, no "hunch", "logical", "starts telling me so", "Eliiot Waves" BULLSHIT.

All I can see here is ANOTHER massive breakout in the weekly chart which is a setup for several hundreds of pips run up, no stop, just like what happened from 1.9180 to 2.0131.

To note: every pip cable goes higher, so goes all supports. So there's a whole freaking army of supports just to tick 2.0000 again.

This is ANOTHER breakout. Not even the first time we see one of those babies.

I've posted my weekly chart with the breakout here. Dig into the thread if you wish. No gonna waste time doing that just to read another "Time has come, we are going DOOOOOOWWWWNNNNN" ..

Thanks
  • #16,765
  • Jul 2, 2007 11:21am Jul 2, 2007 11:21am
Quoting cesarnc

Please, no "hunch", "logical", "starts telling me so", "Eliiot Waves" BULLSHIT.
Love you, too Plutonite. But this "written in the stars" of yours makes me grab my revolver everytime.
  • #16,766
  • Jul 2, 2007 11:24am Jul 2, 2007 11:24am
Quoting cesarnc
For the 2.0160th time, could anybody please show one single chart where a "HUGE SELLOFF, TARGET 9750, GOING DOWN, SOONER THAN YOU MAY THINK " is shown?

Please, no "hunch", "logical", "starts telling me so", "Eliiot Waves" BULLSHIT.

All I can see here is ANOTHER massive breakout in the weekly chart which is a setup for several hundreds of pips run up, no stop, just like what happened from 1.9180 to 2.0131.

To note: every pip cable goes higher, so goes all supports. So there's a whole freaking army of supports just to tick 2.0000 again.

This is ANOTHER breakout. Not even the first time we see one of those babies.

I've posted my weekly chart with the breakout here. Dig into the thread if you wish. No gonna waste time doing that just to read another "Time has come, we are going DOOOOOOWWWWNNNNN" ..

Thanks
That's it - stamp on my scrotum why don't you... As if I haven't had enough trauma for one day. Now I have to deal with talk of unfettered sterling ambitions.
Yeeeeesh...............
  • #16,767
  • Edited 11:50am Jul 2, 2007 11:29am | Edited 11:50am
Quoting goonergonebad
That's it - stamp on my scrotum why don't you... As if I haven't had enough trauma for one day. Now I have to deal with talk of unfettered sterling ambitions.
Yeeeeesh...............
Go to hell gooner.

You and all you #$@$@$ trying to outsmart the market.

#$@$, all I want is another view that makes sense as to help me make up my mind. But all you bearish #$@#$@$@#$ have is a this thirst for 500 pips down the hole, while this #$@$@#$#$ pair is already 500 pips up from its last low.
  • #16,768
  • Jul 2, 2007 11:33am Jul 2, 2007 11:33am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Date: 2007/07/02Time: 17:01 (GMT +2)Ticker: GBPLast: 2.0147Pivot: 2.00751st sup.2.00752nd sup.2.0033rd sup.2.00051st res.2.0152nd res.2.01763rd res.2.02Title: GBP/USD intraday: another leg up is expectedSummary: Update on supports and resistances.Story: Pivot: 2.0075

Our preference: Long positions above 2.0075 with targets @ 2.015 & 2.0176 in extension.

Alternative scenario: Below 2.0075 look for further downside with 2.003 & 2.0005 as targets.

Comment: the pair stands in a bullish channel.
http://www.tradingcentral.com/chart/...0702170029.GIF

Here's another chart looks to me like it supports your view Cerarnc, only trouble is I still find it hard to read all the info, still trying to decide when the breather and bounce will come before the next leg up any ideas? would be most welcome
  • #16,769
  • Jul 2, 2007 11:36am Jul 2, 2007 11:36am
Quoting cesarnc
Go to hell gooner.

You and all you morons trying to outsmart the market.

Shit, all I want is another view that makes sense as to help me make up my mind. But all you bearish cock suckers have is a this thirst for 500 pips down the hole, while this fucking pair is already 500 pips up from its last low.
You are the man cesar,...
Long since 2.0090,...
Hope to bank more pips,... What is your target?
  • #16,770
  • Jul 2, 2007 11:36am Jul 2, 2007 11:36am
And that's my view for those who care
Attached Image
  • #16,771
  • Jul 2, 2007 11:40am Jul 2, 2007 11:40am
Quoting cesarnc
For the 2.0160th time, could anybody please show one single chart where a "HUGE SELLOFF, TARGET 9750, GOING DOWN, SOONER THAN YOU MAY THINK " is shown?

Please, no "hunch", "logical", "starts telling me so", "Eliiot Waves" BULLSHIT.

All I can see here is ANOTHER massive breakout in the weekly chart which is a setup for several hundreds of pips run up, no stop, just like what happened from 1.9180 to 2.0131.

To note: every pip cable goes higher, so goes all supports. So there's a whole freaking army of supports just to tick 2.0000 again.

This is ANOTHER breakout. Not even the first time we see one of those babies.

I've posted my weekly chart with the breakout here. Dig into the thread if you wish. No gonna waste time doing that just to read another "Time has come, we are going DOOOOOOWWWWNNNNN" ..

Thanks
cesarnc, i see 1.9200 - 2.0170

youre right, but we need see all chart time, its long

please show your image
  • #16,772
  • Jul 2, 2007 11:41am Jul 2, 2007 11:41am
Quoting cesarnc
And that's my view for those who care
2.0300 area?,... for this week?,...
  • #16,773
  • Jul 2, 2007 11:41am Jul 2, 2007 11:41am
I just wonder... how many stoplosses in a row ought to be hit before trend-faders realize that it's just easier (and more profitable) to do it the other way around? Perhaps we could make a poll on this question?
  • #16,774
  • Jul 2, 2007 11:43am Jul 2, 2007 11:43am
Quoting WTB
I just wonder... how many stoplosses in a row ought to be hit before trend-faders realize that it's just easier (and more profitable) to do it the other way around? Perhaps we could make a poll on this question?
Or how many accounts to be flushed out.
  • #16,775
  • Jul 2, 2007 11:43am Jul 2, 2007 11:43am
Quoting cesarnc
Love you, too Plutonite. But this "written in the stars" of yours makes me grab my revolver everytime.
But it often comes true, for reasons that will become clear when I write it up. Did you follow the trades last week? Did you ever see better bottom-picking? And plus, when I'm wrong, it's only for a small SL after which I usually reverse (as in today).
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #16,776
  • Jul 2, 2007 11:44am Jul 2, 2007 11:44am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting cesarnc
And that's my view for those who care

Ok I'm with the uptrend, but can see on your chart the drop from upper to lower channel lines. could you please offer some advise on were your chart shows the next turn towards the lower support point, looks to be in the .03 area?
  • #16,777
  • Jul 2, 2007 11:45am Jul 2, 2007 11:45am
Quoting Plutonite
But it often comes true, for reasons that will become clear when I write it up.
Gonna be a New York Time's bestseller, I tell you that... May I write the preface?
  • #16,778
  • Jul 2, 2007 11:46am Jul 2, 2007 11:46am
Quoting zamans98
impressive run of Cable...
+ ISM News
- "terrorist" attack

But cable UP?
'Terrorist attack' was so laughable it made everyone relax about terrorism - more worried about next door's dog. That's my theory. The expression on the faces of the passengers tells it all.
  • #16,779
  • Jul 2, 2007 11:48am Jul 2, 2007 11:48am
Quoting WTB
I just wonder... how many stoplosses in a row ought to be hit before trend-faders realize that it's just easier (and more profitable) to do it the other way around? Perhaps we could make a poll on this question?
About 6 months after I started I spent 2-3 weeks shorting a 1000 pip GBPUSD rise
Constantly being stopped I mean of course.

Cesarnc....I'd change my language on that post before a mod sees it, you're normally a calmer guy

But I can relate, Gooner can be a bit provocative ;P

I don't know if this is going to help ANYONE, but this is one of my "pastime" charts I like *g*


But I trade off of a lot messier things... ;p

Oh, er, ignore the arrows and trendlines, it's only for the s/r grid
Attached Image
Trust price. Know yourself.
  • #16,780
  • Jul 2, 2007 11:50am Jul 2, 2007 11:50am
Quoting zamans98
impressive run of Cable...
+ ISM News
- "terrorist" attack

But cable UP?
I think, is gone have at least one attempt to break the support 0130 (going down a little)
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