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Cable Update (GBPUSD)

  • #17,801
  • Jul 8, 2007 3:22am Jul 8, 2007 3:22am
Only Short .. and nothing else
  • #17,802
  • Jul 8, 2007 4:20am Jul 8, 2007 4:20am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I just came to read some posts.Great to see you are active even if it is weekend. Hope that market offers yu some safe oportunities next week....
Till tommorow then...enjoy your day off
  • #17,803
  • Jul 8, 2007 4:34am Jul 8, 2007 4:34am
hey Dado,

Your avitar happens to be the background of my wifes laptop. I see you are a fan of digital blasphemy as well...
Que
  • #17,804
  • Jul 8, 2007 4:35am Jul 8, 2007 4:35am
Quoting Leugimp
All this talk about fundamentals, fundamentals only mean so much - While many see the current affairs of the US economy as dollar negative - trading involves much more than this - the question is how long have you and everyone else seen this and is it priced in already. If so additional releases only add to inflate the possibility for a corrective bubble or reversal - where is the commitment of traders report at right now - seems to be pretty one sided on noncomercials. Am I saying short the pound - no : not really giving any recommendation - if in a long position you have been doing fine and your MM and analysis should dictate your exit, however I do think that this is the wrong(risky) point in time to be entering new opening long term long positions on the pair. fighting the trend may be a bad idea as well.

It will be interesting to see how price reacts in the 9900-9960 level where a positive reversal will most likely come in coupled with top bottom support and most daily trend indicators still pointing strongly up(not to mention multi year weekly trendline, and fib retracement areas). Could possibly be an area to safely go long, but will be dependant as well on COT, as an extreme held reading could set the stage for a much deeper initila correction or long choppy consolidation period
The most important point to take away from this, is that just because one does not think a long is appropriate, it does not mean that a short is. Many times the correct decision is to stay out and that's hard when you start trading...
  • #17,805
  • Jul 8, 2007 5:58am Jul 8, 2007 5:58am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quote
Your avitar happens to be the background of my wifes laptop. I see you are a fan of digital blasphemy as well...

It is nice isnt it! Some pictures really are worth to look them twice. I download some of them from somewhere and thats it. Quite some piece a??.........

I heared aforism today....
mybe earth is just a hell for some other planets.....
  • #17,806
  • Jul 8, 2007 3:44pm Jul 8, 2007 3:44pm
gbpusd - technical and fundamental - both are pointing down.

just my thought.


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  • #17,807
  • Jul 8, 2007 4:42pm Jul 8, 2007 4:42pm
Couple possible scenario's for cable maybe
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"Millionaires don't use astrology, billionaires do"
  • #17,808
  • Jul 8, 2007 6:04pm Jul 8, 2007 6:04pm
I am long Cable The Bulls are still in control
TRADE LIKE A MACHINE!
  • #17,809
  • Jul 8, 2007 6:08pm Jul 8, 2007 6:08pm
short term play is sell the 10 pip or so gap opening. If I get in profit will establish a long term south position.
  • #17,810
  • Jul 8, 2007 6:32pm Jul 8, 2007 6:32pm
my long trucks at highway 2.00 is still parked there. Today, i hope to get it going... at 430
  • #17,811
  • Jul 8, 2007 8:14pm Jul 8, 2007 8:14pm
Quoting zamans98
my long trucks at highway 2.00 is still parked there. Today, i hope to get it going... at 430
and what is ur tp n sl for 2.0000 ?
  • #17,812
  • Jul 8, 2007 9:10pm Jul 8, 2007 9:10pm
Quoting hijackxx@hotmai
and what is ur tp n sl for 2.0000 ?
TP: 2.0150
SL: 1.9950
  • #17,813
  • Jul 8, 2007 9:44pm Jul 8, 2007 9:44pm
Quoting wwwin
I believe it will go to 1.98 before it goes higher.
It would be nice.. however 95% of traders believe it will go higher first .
Solid purple L is my target..
R
Attached Image
  • #17,814
  • Jul 8, 2007 9:52pm Jul 8, 2007 9:52pm
Quoting raczekfx
It would be nice.. however 95% of traders believe it will go higher first .
Solid purple L is my target..
R
4hr ch offers better view..
I'll be looking to go long again near solid purple L
R
Attached Image
  • #17,815
  • Jul 8, 2007 9:53pm Jul 8, 2007 9:53pm
Well my 5 cents worth for european session.
Retracement short, to either 2.0087-2.0075, long target 2.0165.
Dont forget PPI coming out.
Biggest joker
  • #17,816
  • Jul 8, 2007 10:29pm Jul 8, 2007 10:29pm
Gbp just made 26 year highs last week. In April the GBP reached 2.0132 (Apr 18th), Euro reached life time high 9 days later (Apr 27th).

Euro could create a new lifetime mark of 1.3700 by the end of the week??????

Would that make the gbp create new lifetime highs also?????

Thoughts......
  • #17,817
  • Jul 9, 2007 12:04am Jul 9, 2007 12:04am
lately, news does not bring any good.
I learned something....

Speculation is KING, nothing else!
  • #17,818
  • Jul 9, 2007 2:03am Jul 9, 2007 2:03am
Quoting Igrok
Might be the last opportunity today to take longer-term shorts on EUR and Cable at good lelels. 1.3380 and 1.9770 seems like the ones.
Igrok,

Do you still believe this to be valid?
  • #17,819
  • Jul 9, 2007 2:26am Jul 9, 2007 2:26am
hmmm many people here on forexfactory short ......
  • #17,820
  • Jul 9, 2007 2:32am Jul 9, 2007 2:32am
Quoting manu.aquetdju
hmmm many people here on forexfactory short ......
It only means 1 good thing,










GO LONG!
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