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Cable Update (GBPUSD)

  • #18,721
  • Jul 14, 2007 11:26am Jul 14, 2007 11:26am
Quoting Turtle
I was also looking at my charts and with a holiday for Japan to start the week and no major news on Monday I do see cable breaking that 0364 barrier.

Question is what was your reasoning on picking 2.0487??? Fib number???

I'm seeing a shot to 0400, but then meeting some resistance at that point.
There is no point in cracking 0364 triple top to stop at 0400. In this case, high 0400 / low 0500 comes into play before seeing some correction.
  • #18,722
  • Jul 14, 2007 11:33am Jul 14, 2007 11:33am
Quoting cesarnc
There is no point in cracking 0364 triple top to stop at 0400. In this case, high 0400 / low 0500 comes into play before seeing some correction.
Good point, I'm actually long from 0359, but was thinking at 0400 there could be some noise...don't know how much, by I did make a note to send one solider out at 0390 with a t/p of 0500.

While I'm learning more everyday, I'm starting to look for more long term trades than in the past.

Thanks for the insight cesarnc..
  • #18,723
  • Jul 14, 2007 2:12pm Jul 14, 2007 2:12pm
Quoting Turtle
Good point, I'm actually long from 0359, but was thinking at 0400 there could be some noise...don't know how much, by I did make a note to send one solider out at 0390 with a t/p of 0500.

While I'm learning more everyday, I'm starting to look for more long term trades than in the past.

Thanks for the insight cesarnc..
When price hangs too long close to the round figure, it takes it without too much conversation. See what happened just before 0200 and just before 0300.

But right now, I'm kinda skeptical about the upside, although I will trade a possible break of 0364 like crazy
  • #18,724
  • Jul 14, 2007 3:05pm Jul 14, 2007 3:05pm
Quoting Tragapips
This is an interesting article. In conclusion Summer is generally cable bullish but this time + bad fundamentals for dollar.

http://www.dailyfx.com/export/sites/...port/ajfs5.gif

Article is here

This Summer data is interesting but I think not entirely conclusive since it is only a little better than half of the last 21 years that G/U has risen in the Summer. With G/U there is bound to be volatility either way.
  • #18,725
  • Jul 14, 2007 4:08pm Jul 14, 2007 4:08pm
Love this talk about sterling climbing to new highs. However, I had some luck last week without taking a long position. From Tuesday through Friday, I neted almost 400 USD, trading 3 minis each time, from seven different "shorts" on the G/U. Limit sell set high enough; waited for the fallback, exit to net profit.
. . . probably like a new hunter backing a troph buck his first day hunting; it will never get that good or that easy again.! HA.
Still learning to spell phorex. . . . .
  • #18,726
  • Jul 14, 2007 4:25pm Jul 14, 2007 4:25pm
Strategy for the week:
Attached Image
  • #18,727
  • Edited 5:13pm Jul 14, 2007 4:34pm | Edited 5:13pm
notice in 1990 and 92...I beleive that was when soros shorted gbp and made his 4 billion.

I don't think that will hapen (same way ) this time...but, the trend line has been broken 2.0085..or closer) and the news is good for gbp, and eur , and now iran saying they want yen and not dollar etc etc..

in short term, if the price 036x is brolen, then definitly will go up 200-300 pips and more..

but then the new channel will be from the new high (retracting all they way to 2.0085..area and so that will be the new support...

but then again, all depends on price action.

only 300 pips, breaking resistance of 90,92 and 2007.

If it must continue, it will go another 2000 pips to 2.2000 in next year or two.


short term restractrions ofcourse will occure....


Use moutaki, james, fibs and fundumentals... this week we have to make some pips.

May pips be with you ... and FF rocks..(even though some times they trip)..

it is one of the best places to be a fx trader.
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Pipology 101 student
  • #18,728
  • Edited 5:06pm Jul 14, 2007 4:47pm | Edited 5:06pm
here we go for short term

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Pipology 101 student
  • #18,729
  • Jul 14, 2007 5:01pm Jul 14, 2007 5:01pm
Quoting venci
Strategy for the week:
  • #18,730
  • Jul 14, 2007 5:29pm Jul 14, 2007 5:29pm
Quoting venci
Strategy for the week:
Hey! Thats USD Bear in a GBP Bull Mask!

LOL!
  • #18,731
  • Jul 14, 2007 9:56pm Jul 14, 2007 9:56pm
Quoting cesarnc
When price hangs too long close to the round figure, it takes it without too much conversation. See what happened just before 0200 and just before 0300.

But right now, I'm kinda skeptical about the upside, although I will trade a possible break of 0364 like crazy
I hear what your saying, I thinking that with Japan on holiday Sun/Mon and no major news, Euro could make another run @3800 and beyond..

Which would take the pound past 0400??

If not then we could be choppy until the BOE minutes.

We shall know by the London close on Monday...
  • #18,732
  • Jul 14, 2007 10:15pm Jul 14, 2007 10:15pm
tomorrow monday morning i'm going to open my pc... long cable... close my pc and go to sleep... will see 2.1000 definately on Friday! It's going to happen guys! believe me it will!
  • #18,733
  • Edited 10:24pm Jul 14, 2007 10:23pm | Edited 10:24pm
Quoting soros_junior
tomorrow monday morning i'm going to open my pc... long cable... close my pc and go to sleep... will see 2.1000 definately on Friday! It's going to happen guys! believe me it will!
You need to read that article from NewstraderFX about Warren Buffet possibly buying some homebuilder stock rumors....

If so, I might have to stand back....

This really makes you wonder??????
  • #18,734
  • Jul 14, 2007 11:01pm Jul 14, 2007 11:01pm
Quoting Turtle
You need to read that article from NewstraderFX about Warren Buffet possibly buying some homebuilder stock rumors....

If so, I might have to stand back....

This really makes you wonder??????
it's only a possibility... nobody is going to invest in USA or buy USD anymore... not a good place, USA is doomed economically & politically.. people are changing to yen, euro, gbp...

by the way, can i have a link to that article?
  • #18,735
  • Jul 14, 2007 11:13pm Jul 14, 2007 11:13pm
Quoting soros_junior
it's only a possibility... nobody is going to invest in USA or buy USD anymore... not a good place, USA is doomed economically & politically.. people are changing to yen, euro, gbp...

by the way, can i have a link to that article?
Just look under latest forex news......
  • #18,736
  • Jul 14, 2007 11:19pm Jul 14, 2007 11:19pm
Quoting Turtle
Just look under latest forex news......
read it already... only rumours which if turn out to be false would shoot up GU to 2.1000 like piece of cake...
  • #18,737
  • Jul 14, 2007 11:28pm Jul 14, 2007 11:28pm
Quoting soros_junior
read it already... only rumours which if turn out to be false would shoot up GU to 2.1000 like piece of cake...
That is correct, it would go up, but not sure about that figure...700 pips???

But if the rumors are true.....watch out!!

Only the market will tell us?????
  • #18,738
  • Edited 12:31am Jul 15, 2007 12:31am | Edited 12:31am
Quoting soros_junior
read it already... only rumours which if turn out to be false would shoot up GU to 2.1000 like piece of cake...

Just remember, Buffet is like E.F. Hutton...when he "speaks" EVERYONE is listening.

He is the #2 riches man in the world......that does account for something.

Isn't that what we all shrive for?????
  • #18,739
  • Jul 15, 2007 12:41am Jul 15, 2007 12:41am
Quoting Turtle
Just remember, Buffet is like E.F. Hutton...when he "speaks" EVERYONE is listening.

He is the #2 riches man in the world......that does account for something.

Isn't that what we all shrive for?????
just wait and see... i'm still long my cable... target 2.1000 short term... 3.0000 long term....
  • #18,740
  • Jul 15, 2007 1:07am Jul 15, 2007 1:07am
Quoting soros_junior
just wait and see... i'm still long my cable... target 2.1000 short term... 3.0000 long term....
Hey, I'm long also @ 0359, but this is something I will keep my eye on.
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