Cable Update (GBPUSD) | Page 851 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #17,001
  • Jul 4, 2007 3:23am Jul 4, 2007 3:23am
I find it interesting that many people are anticipating a drop while cable makes new highs. It made 4 consecutive highs over 2.0130 in the last three days. If there is no hike many falks will most likely hit the Sell button.

I bet there will be a plenty of money made by big fishes to buy all those shorts and drive it up to another high, keep it there for all the people to believe it's to stay over 2.0000 and then drop it like hell when all shorts are stopped and reversed for buys. I would think it's the best time to play such a nasty game, isn't it Mr. Soros?
  • #17,002
  • Jul 4, 2007 3:27am Jul 4, 2007 3:27am
pinchapip, according to the chart you posted, you think that it will move from the right side of the chart to the left?
  • #17,003
  • Jul 4, 2007 3:29am Jul 4, 2007 3:29am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
No dont get me wrong... I made 45 pips from yesterdays bull move...market sentiment is still and only bullish. I just do not want to trade today becouse I have a funny feeling when I look at todays cabels moves.
Fighting trend was my major mistake a year ago and I am trying not to do it again....
  • #17,004
  • Jul 4, 2007 3:35am Jul 4, 2007 3:35am
Quoting pinchapip
I think everybody who gets into the forex world tries, consciously or subconsciously to find the "holy grail". Wouldn't it be amazing to find a formula, identify a pattern, or come up with a strategy that will work 100% of the time so you just apply it, relax, and collect the gain????

Well...sometimes I find myself still trying to find some kind of holy grail, even if I know it does not exist.

The market is unpredictable even when it follows a well established trend. Big banks "manipulate" something that is supposed to "happen" naturally. Fundamentals and technicals only work until they lead you to a margin call.

Even if I find myself deviating from my philosophy from time to time I know that the following is what appears (at least to me) to be what comes closest to a "holy grail"

1- A little bit goes a long way

2- bark with the big dogs

3- get out while the music is still playing

As simple and maybe "silly" as it may seem !!!!!!!
It strikes me that this 'chatter' is in fact the core of being able to trade - it's one's own psychology that will make or break it - when I have had a row with my wife I lose lots in the hours (and days sometimes!) following... It really is so important to be rested and balanced emotionally.

let me add another - same theme

'The secret of a good party is knowing when to leave'

I love the Keynes quote on the market staying irrational longer than you can remain liquid - i repeat it to myself every day to remind myself that my ideas on the twin deficits and china etc etc are worthless because other factors are at play - and even if they weren't, the market is quite capable of either being irrational (seemingly), or being manipulated by soros etc or the governments - so yes, following the herd and having stop losses is the only way...

can you imagine if you didnt have a guaranteed stop loss on a long GBP and somebody set off a radioactive dirty bomb in the city of london ? If your margin funds aren't enough and the stop isn't a guaranteed specific price order trade, then by the time your broker took you out of it (it would be moving at light speed) - you would be up the creek without a paddle- you have more to lose than your margin funds i keep telling myself
  • #17,005
  • Jul 4, 2007 3:58am Jul 4, 2007 3:58am
UK. Consumer confidence slipped in June and the Housing Equity withrdawal just came weaker than expected. as a result, we may see a drop to the 2.0130 limits. (possibility)

===============================
  • #17,006
  • Jul 4, 2007 4:02am Jul 4, 2007 4:02am
Quoting waf_1988
How do you know? Is there any speculation on this news?! How if the technical plays more important part today?
US is having a holiday today.. so i expect volume to be low.. not to mention lots of others that wait in the sidelines before BOE rate news.. means price would move in small range.. unless of course the big guy with lots of money come in and "shake" the market with AK47..
  • #17,007
  • Jul 4, 2007 4:10am Jul 4, 2007 4:10am
Quoting ndvt241
UK. Consumer confidence slipped in June and the Housing Equity withrdawal just came weaker than expected. as a result, we may see a drop to the 2.0130 limits. (possibility)

===============================

However PMI came stronger than expected. I imagine a tighter range than would allow for this today.
quote of the day: . It's like deja-vu all over again
  • #17,008
  • Jul 4, 2007 4:12am Jul 4, 2007 4:12am
All those times I was bored
out of my mind. Holding the log
while he sawed it. Holding
the string while he measured, boards,
distances between things, or pounded
stakes into the ground for rows and rows
of lettuces and beets, which I then (bored)
weeded. Or sat in the back
of the car, or sat still in boats,
sat, sat, while at the prow, stern, wheel
he drove, steered, paddled. It
wasn't even boredom, it was looking,
looking hard and up close at the small
details. Myopia. The worn gunwales,
the intricate twill of the seat
cover. The acid crumbs of loam, the granular
pink rock, its igneous veins, the sea-fans
of dry moss, the blackish and then the graying
bristles on the back of his neck.
Sometimes he would whistle, sometimes
I would. The boring rhythm of doing
things over and over, carrying
the wood, drying
the dishes. Such minutiae. It's what
the animals spend most of their time at,
ferrying the sand, grain by grain, from their tunnels,
shuffling the leaves in their burrows. He pointed
such things out, and I would look
at the whorled texture of his square finger, earth under
the nail. Why do I remember it as sunnier
all the time then, although it more often
rained, and more birdsong?
I could hardly wait to get
the hell out of there to
anywhere else. Perhaps though
boredom is happier. It is for dogs or
groundhogs. Now I wouldn't be bored.
Now I would know too much.
Now I would know.
quote of the day: . It's like deja-vu all over again
  • #17,009
  • Jul 4, 2007 4:22am Jul 4, 2007 4:22am
Quoting Gmak
However PMI came stronger than expected. I imagine a tighter range than would allow for this today.
Weaker housing datas with higher interest rate does not match. let the market decide

========================
  • #17,010
  • Jul 4, 2007 4:38am Jul 4, 2007 4:38am
Quoting danegg7
pinchapip, according to the chart you posted, you think that it will move from the right side of the chart to the left?
It will go up to the 2.0268 "area" give or take a few pips.. then down. But again exercice your own judgement...dont follow it blindlly !!!
For he that would be deceived, let him.
  • #17,011
  • Jul 4, 2007 4:39am Jul 4, 2007 4:39am
house prices and mortgage approvals both rose higher than expectations for the month just gone.
quote of the day: . It's like deja-vu all over again
  • #17,012
  • Jul 4, 2007 4:53am Jul 4, 2007 4:53am
Quoting dd33
US is having a holiday today.. so i expect volume to be low.. not to mention lots of others that wait in the sidelines before BOE rate news.. means price would move in small range.. unless of course the big guy with lots of money come in and "shake" the market with AK47..

Agree with you there - not much liquidity in the cable today..............

Will turn off screen, have a round of golf, and forget markets till tomorrow...

Have a good day!
  • #17,013
  • Jul 4, 2007 5:06am Jul 4, 2007 5:06am
Sun, i can understand your thinking. That channel just a normal ole channel Babson on my program, just split in quarters. The last quater is the buy/sell zone in any channel, for the approach of the TL is true OS OB conditions. My thinking is if this is liquidation by professionals 2days dropping Open Intrested in gbp futures on reduced volumes, then Monday's high Volumes must of been maybe a mini buying climax near term since cash volumes were the hghest since the pound bolted off that lower TL Mar 5th, even stil the highest activity in 4months means something, just my opinion, if im wrong i will close. but dont think i am

CME futures link http://www.cme.com/daily_bulletin/Se...es_2007108.pdf
"Millionaires don't use astrology, billionaires do"
  • #17,014
  • Jul 4, 2007 5:31am Jul 4, 2007 5:31am
Well im selling presently as my 4 hour system gave me a signal. Interesting stuff Orionsway.

What im selling! Let the flaming begin
  • #17,015
  • Jul 4, 2007 5:43am Jul 4, 2007 5:43am
You know it's a bad day when crap like this becomes relevant

06:34 Silver futures trading at $12.705/oz
  • #17,016
  • Jul 4, 2007 5:46am Jul 4, 2007 5:46am
Quoting cesarnc
You know it's a bad day when crap like this becomes relevant

06:34 Silver futures trading at $12.705/oz


Long neck beer futures is also breaking out here. Last $4.50/six-pack.
  • #17,017
  • Jul 4, 2007 6:10am Jul 4, 2007 6:10am
What the f@ck are you bunch doing here?!?! today is a no-trading day, go out get some photosynthesis done on yourselves for Pete's sake!
  • #17,018
  • Jul 4, 2007 6:12am Jul 4, 2007 6:12am
Quoting WTB
What the f@ck are you bunch doing here?!?! today is a no-trading day, go out get some photosynthesis done on yourselves for Pete's sake!
YEAH, that's RIGHT... Let's go to the freaking BEACH!!!

http://images.jupiterimages.com/comm...4/23425454.jpg

  • #17,019
  • Jul 4, 2007 6:29am Jul 4, 2007 6:29am
Quoting cesarnc
YEAH, that's RIGHT... Let's go to the freaking BEACH!!!

http://images.jupiterimages.com/comm...4/23425454.jpg

You crack me up today Cesarnc!! You bored or what? Looks like rain in UK again today so no golf and no beach :-(
  • #17,020
  • Jul 4, 2007 6:32am Jul 4, 2007 6:32am
trading ftw
Trade what you see, not what you think.
934 traders viewing now, 2 are registered:
Meer-Shayhak
,
Waveskierrob