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Cable Update (GBPUSD)

  • #16,801
  • Jul 2, 2007 2:25pm Jul 2, 2007 2:25pm
Back during the London bus bombings, even when the market was expecting a rate cut and didn't get it, Cable was slaughtered because of the terrorist activity. this time not even a ripple. Will the market reaction be delayed or does terrorism even matter? The market has a very fickle personality to be sure.
  • #16,802
  • Jul 2, 2007 2:25pm Jul 2, 2007 2:25pm
MPP, in a healthy trending market (as per my system) I rise the red flag when the pullback slaps the 100 SMA or the 30 SMA crosses the 50 SMA.
  • #16,803
  • Jul 2, 2007 2:27pm Jul 2, 2007 2:27pm
I look for a 2.0200 test before any "adjustment" buying on dips is my approach.
Patience + Humility + Study = Success
  • #16,804
  • Jul 2, 2007 2:34pm Jul 2, 2007 2:34pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
WTB
look at my chart package, no sma addins to be had, please understand i am a very new novice. do i need to look elsewhere for SMA info.
  • #16,805
  • Jul 2, 2007 2:40pm Jul 2, 2007 2:40pm
Quoting DutchTrader
I look for a 2.0200 test before any "adjustment" buying on dips is my approach.
Barrier reported in this area, guess it might be tested yes.

0131 new support level to watch. Then the obvious 0100 and a cluch of supports down to 2.0000.

Hope Cable retraces a good bunch, what? tomorrow maybe.... I want a better r:r to add to longs
  • #16,806
  • Jul 2, 2007 2:44pm Jul 2, 2007 2:44pm
GBP 2.0989 will make me happy............
I Deeply Love My Virtual Life In Virtual World , RLC
  • #16,807
  • Jul 2, 2007 2:51pm Jul 2, 2007 2:51pm
"I will probably lose money on the last swing (when the trend reverses), but at least I have been making money off all the previous consecutive swings up before that doomsday actually takes place"

I appreciate all that you say in your post. I just cannot bring myself to accept that common-sense will not prevail and that a more rounded market sentiment will not emerge. In other words my ego says so and so it must be.

With regard to your observation about taking 300+ pips profit versus a nominal number of pips loss - great for multi day swing trading, but being an instant gratification person, I have been learning to trade intraday, and each day of late I am utterly bewildered and confused about the potential trend for the day (not just cable but all dollar pairs).

BTW (re, Cesarncs post) - can someone please explain the significance of the $ index drop. Surely it can rise like Lazarus just as easily as fall like Jeffrey Archer.

I use the charts and I check the fibs and pivots, but increasingly strange market behaviour has now made me wary of plumping for any direction with confidence.

I observed earlier that traders such as you WTB who have this blind (subject to brail charts) faith in the trend until directed otherwise, are what we should all aspire to as traders. The trouble is that your focused conservative skill set is not easily achieved against a backdrop of EGO.

Thanks for your feedback and advice. One day maybe...
  • #16,808
  • Jul 2, 2007 2:51pm Jul 2, 2007 2:51pm
lol funny last 4 pages of im the bestest trader ever.

If memory serves this or another thread we had this same argument around mid April which coincided with cables last high and then drop.
  • #16,809
  • Jul 2, 2007 2:52pm Jul 2, 2007 2:52pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
WTB
I may have found it, MVA (simple moving average), it has options high low open close and number of periods. is this the correct item? and how do you set up the lines.
  • #16,810
  • Jul 2, 2007 2:54pm Jul 2, 2007 2:54pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting MPP
WTB
I may have found it, MVA (simple moving average), it has options high low open close and number of periods. is this the correct item? and how do you set up the lines.

WTB is offline at the moment, can anyone else enlighten me.
  • #16,811
  • Jul 2, 2007 2:58pm Jul 2, 2007 2:58pm
Quoting cesarnc
Barrier reported in this area, guess it might be tested yes.

0131 new support level to watch. Then the obvious 0100 and a cluch of supports down to 2.0000.

Hope Cable retraces a good bunch, what? tomorrow maybe.... I want a better r:r to add to longs
I hear that, I'm also hoping for a slight drop back to 0130 so I can get in "long" again.

Good discussion this afternoon, I always seem to learn something new...
  • #16,812
  • Jul 2, 2007 2:59pm Jul 2, 2007 2:59pm
Quoting MPP
WTB
I may have found it, MVA (simple moving average), it has options high low open close and number of periods. is this the correct item? and how do you set up the lines.
I use the simple moving average of the close. Number of periods are: 30 for one of them (in green), 50 for another one (in red) and 100 for the last one (in blue).
  • #16,813
  • Jul 2, 2007 3:13pm Jul 2, 2007 3:13pm
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Another brakeout? Ride to 100?
  • #16,814
  • Jul 2, 2007 3:23pm Jul 2, 2007 3:23pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting WTB
I use the simple moving average of the close. Number of periods are: 30 for one of them (in green), 50 for another one (in red) and 100 for the last one (in blue).
OK think I got that, which time frame is best suited to this approach or will it work on all?
  • #16,815
  • Jul 2, 2007 3:36pm Jul 2, 2007 3:36pm
Quoting dado26
Another brakeout? Ride to 100?
Looked like a test to see how much farther it can go. I'm hoping for a pullback to the 0130 area so I can go long again.

Let's see what the Asian session brings...
  • #16,816
  • Jul 2, 2007 3:40pm Jul 2, 2007 3:40pm
Sell rallies ...its just on 50SMA

Going short now 122.41

Hang on
  • #16,817
  • Jul 2, 2007 3:41pm Jul 2, 2007 3:41pm
Quoting dragon77
Sell rallies ...its just on 50SMA

Going short now 122.41

Hang on

Oopps wrong forum, sorry folks.......losing my pips
  • #16,818
  • Jul 2, 2007 3:48pm Jul 2, 2007 3:48pm
Quoting el_duende
lol funny last 4 pages of im the bestest trader ever.

If memory serves this or another thread we had this same argument around mid April which coincided with cables last high and then drop.
That's why this discuss again is even more irritating. In April, in every 100 pips up, people scrambled to go short. In every 200 pips up, users were wipe out of the market and you never read their posts again.

And it was a 900+ pips run....
  • #16,819
  • Jul 2, 2007 3:56pm Jul 2, 2007 3:56pm
Quoting cesarnc
In April, in every 100 pips up, people scrambled to go short.
Well.. April 26th 2007, 17:08

Quoting Igrok
It is quite likely that 1.4000 level will come before 2.0300.
Any comment? Im sure you remember this post.

An authentic UK holocaust predicition based on a chart, like an incredible apocalypse written on the candles for us to know the dark and sad future of a country, in a few years from now.

Today i learned 1 thing:

FF gurus.. no matter who you are, whatever you do. You suck.

Who am i talking about? Everyone who talked about "1.9000 by the end of the month after the top at 2.0131"

"1.9000 before 2.0000." I started to believe on this, against my own ideas (old posts can confirm my idea back then), and i feel stupid but finally its over. Finally i know that the best way to read others opinions (the superficial ones and i repeat... the superficial ones) is to spit on them.

What do i mean with superficial analysis? Is any analysis who dont take ALL the info into consideration.

Is every opinion who says. This pair is going to xxxxx (thousands of pips away) because my macd or somekind of celestial picture in the chart says so.

And for the ones who say that yen pairs are not reflecting fundamentals. YES they are.

No the economy of Japan is not that weak, BUT 0.5% vs 5 ... 6 .. 7 .. 8 % IS fundamentals. Interest rates are fundamental factors, so, yen pairs are reflecting fundamentals period!
  • #16,820
  • Edited 4:59pm Jul 2, 2007 4:08pm | Edited 4:59pm
Quoting jacko
Hi MPP

Put bluntly, that "snippet" looks like absolute rubbish.

What significant factor is going to cause such a dramatic and sudden change in the markets momentum ???

And PLEASE dont say ....Elliott Wave Theory...PLEASE V
.
if the carry trades decide to unwind further it would have a definite effect on cable p/y is making a lower low and lower high .a push past the previous low seems likely,a correction to 242.50 has a high probabilty at this time. if the boe. fails to raise rates this would be a dramatic and sudden change would it not?


.[/quote]
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