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Cable Update (GBPUSD)

  • #19,141
  • Jul 17, 2007 4:52am Jul 17, 2007 4:52am
Flat on cable +40 pips.
  • #19,142
  • Jul 17, 2007 4:55am Jul 17, 2007 4:55am
Quoting WTB
Flat on cable +40 pips.
Coolies, that means now it's the EURUSD's turn
Trust price. Know yourself.
  • #19,143
  • Jul 17, 2007 4:56am Jul 17, 2007 4:56am
Quoting SeekingLight
I hate those mean stop runs

I've had that happen on both USDCAD and Kiwi before. Trades that would have went well over 300-600 pips spiked out at 50-150 with only 20-30 pips buffer, then a resumption and insane continuation. Was pretty annoying both times *g* (We are talking 1.150 USDCAD short, spiked out at 1.1135 with a high at 1.1168 *grrrrrrrr*)
Left cable a LOT more room to play this time.

And yes, it is insanely boring once you stop gambling on the small timeframes and fighting trends I imagine ;p
Thats why its better to switch into DOTA to "burn out" some "adrenaline" there..
  • #19,144
  • Jul 17, 2007 5:05am Jul 17, 2007 5:05am
Quoting SeekingLight
Coolies, that means now it's the EURUSD's turn
I dont know about EURUSD. It's definitely got less steam than cable at this time, unable to break out from 1.3750 and 1.3800. Moreover, the swissie's breakout this morning didnt pull through: it peeped below 1.2000 just to dive back into the consolidation area. I'm very cautious on those two crosses for the time being.
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  • #19,145
  • Jul 17, 2007 5:07am Jul 17, 2007 5:07am
I don't think today's data release will rescue the dollar.
I think too many traders already expect or hope for data better than analyst estimates. And a lot of traders are probably speculating on counter-trend positions because we are in record-setting territory and due to technicals.

My conclusion: US data must come out significantly better than analyst estimates to correct current trend. (And I don't believe it will.)

My actions: None. Still long cable.
  • #19,146
  • Jul 17, 2007 5:07am Jul 17, 2007 5:07am
Quoting WTB
I dont know about EURUSD. It's definitely got less steam than cable at this time, unable to break out from 1.3750 and 1.3800. Moreover, the swissie's breakout this morning didnt pull through: it peeped below 1.2000 just to dive back into the consolidation area. I'm very cautious on those two crosses for the time being.
Yeah.. cable seems to be to only currency that manage to crack through the resistance..
  • #19,147
  • Jul 17, 2007 5:09am Jul 17, 2007 5:09am
Quoting hotstorm
Watching... Hedged my shorts yesterday and waiting for cable trend reversal. What else can I do...?
Waiting for cable trend reversal is the only best thing you can do now. GU will not go up and up and up forever. When it has run out its fuel, it will reverse. So just wait that time brother.
  • #19,148
  • Jul 17, 2007 5:10am Jul 17, 2007 5:10am
All in all, 2.4% CPI is not that BIG DEAL CPI, is it? Ok, bigger than forecast, but yet showing inflation downtrending (3.1/2.8/2.5/2.4)....

THoughts?
  • #19,149
  • Jul 17, 2007 5:10am Jul 17, 2007 5:10am
Quoting moneda
Zamans98,

I am not sure how to take your reply. In FF if a person asserts something the least that this person can do is educate others... your answer seems to suggest that I need to learn more ... maybe so... but since you were the one that brought up the subject...is it inappropiate for me to ask you about it? How about sharing your expertise on Level II in Forex? I am sure that there are more members that can benefit from it. Perhaps if you are not willing someone else can.

Thank You.
Well if you ask with an attitude...you will always get one back et ya....humble urself and u'll be rewarded
  • #19,150
  • Jul 17, 2007 5:12am Jul 17, 2007 5:12am
People say believe half of what you see and none of what you hear...

I am just changing my GBP wad to USD and every time the GBP goes up a cent, my money (real money) changing agent calls me on my cell and says this is the very top and change it all now...

Naturally he called me a short while ago as it smashed 2.04...

I thought I was doing really well getting an average of over 2.00 (they take 1.5 cents commission from the inter bank rates we trade...) but I am hearing voices (which may not be god) saying this could run away to 2.10...

Certainly I am not loading up at 2.4300

I will get some at 2.05+ though

Isn't it exciting and it seems years ago i was shorting 1.98ish to fix a spike up ...
  • #19,151
  • Jul 17, 2007 5:13am Jul 17, 2007 5:13am
Quoting dd33
Thats why its better to switch into DOTA to "burn out" some "adrenaline" there..
DOTA? Anyway, cesarnc, the point I was trying to make: your stop should have been outside the consolidation range and the position sized accordingly.

Waiting, watching. Expecting the low to go on USDCHF, EURUSD to wake up and cable to do what cable does best: amaze
Trust price. Know yourself.
  • #19,152
  • Jul 17, 2007 5:17am Jul 17, 2007 5:17am
Quoting SeekingLight
DOTA? Anyway, cesarnc, the point I was trying to make: your stop should have been outside the consolidation range and the position sized accordingly.

Waiting, watching. Expecting the low to go on USDCHF, EURUSD to wake up and cable to do what cable does best: amaze
Consolidation range? The SOB went to 1970 with a hourly open at 1993! Correct me if I'm wrong, but that would be a short entry (thus, a cut loss trade, my case)....

Edit: Actually, it was a 4hr open below 1.2000
  • #19,153
  • Jul 17, 2007 5:18am Jul 17, 2007 5:18am
next pivot weekly is 2.0533 next point daily for gbp is 2.0478 we shall see some consolidation soon
  • #19,154
  • Jul 17, 2007 5:18am Jul 17, 2007 5:18am
Quoting philipus
Waiting for cable trend reversal is the only best thing you can do now. GU will not go up and up and up forever. When it has run out its fuel, it will reverse. So just wait that time brother.
Sure, and in the meantime have a dozen stoplosses being hit in the process until you finally get that oh-so-clear reversal right for a change...

*sigh*, I am about to give up...
  • #19,155
  • Jul 17, 2007 5:20am Jul 17, 2007 5:20am
.
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  • #19,156
  • Jul 17, 2007 5:21am Jul 17, 2007 5:21am
PAMPLONA!
  • #19,157
  • Jul 17, 2007 5:21am Jul 17, 2007 5:21am
Quoting Brabo
Hmmm all the cable shorty's gone silent?
Not me I'm still up and tawking....by the way I'm hedged and waiting for Sir Soros to tell me when to close the hedge.
  • #19,158
  • Jul 17, 2007 5:24am Jul 17, 2007 5:24am
In what concerns to GBP, looks like the market will wait high for the Minutes to place the top, IF the Minutes indicates no further hike anytime soon....
  • #19,159
  • Jul 17, 2007 5:25am Jul 17, 2007 5:25am
it took me a while but i finally learnt it's safer and more profitable to trade with the prevailing trend.
  • #19,160
  • Jul 17, 2007 5:26am Jul 17, 2007 5:26am
Quoting cesarnc
Consolidation range? The SOB went to 1970 with a hourly open at 1993! Correct me if I'm wrong, but that would be a short entry (thus, a cut loss trade, my case)....

Edit: Actually, it was a 4hr open below 1.2000
Oh, you were long...*coughs*
Trust price. Know yourself.
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