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Cable Update (GBPUSD)

  • #20,221
  • Jul 19, 2007 8:07pm Jul 19, 2007 8:07pm
Quoting wwwin
I was looking for an excuse to close my long and go short, and I found it. Bollinger Bands, very accurate in the past for this pair, show a short entry today at closing. Short 1.0470, Stop 1.0540, (all prices Sept. 07 Futures) if it goes higher then Stop, it will likely continue higher.
Bigger image at http://members.aol.com/f8222/gbp.jpg Good luck to all. Soros, come back, what goes up must come down.
thanks for that input also

see you @ 4:30am GBPGDP q/q (p)
Pipology 101 student
  • #20,222
  • Jul 19, 2007 8:17pm Jul 19, 2007 8:17pm
Updating my yesterday thread...
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  • #20,223
  • Jul 19, 2007 8:21pm Jul 19, 2007 8:21pm
Quoting pipology-101
fundumentals point to gbp bullish. stoks going up , world growing fast, interest rate hiles every where...just depends who starts 1st.

possible boe 6% craziness, usa fed no hike soon , but is hawkish long run (carry trade .

smaller time frame, i channel and surf trade...but with care.

over all daily...bullish on gbp per fundi over jbp or usd.

today and tomorrow, short with tight sl when it hits top at london
Thanks for posting that, I was beginning to wonder, with all the debate on this thread recently, if anyone was even taking this into account, that , like it or not, cable is now a carry trade, and as for myself, I won't be shorting this pair at all, unless it is very carefully w/a tight stop. I learned a (still) painful lesson on the guppy a few months back, and I don't much care for repeating the experience with cable.
  • #20,224
  • Jul 19, 2007 8:39pm Jul 19, 2007 8:39pm
Quoting dedhed
Thanks for posting that, I was beginning to wonder, with all the debate on this thread recently, if anyone was even taking this into account, that , like it or not, cable is now a carry trade, and as for myself, I won't be shorting this pair at all, unless it is very carefully w/a tight stop. I learned a (still) painful lesson on the guppy a few months back, and I don't much care for repeating the experience with cable.
I was wondering about the same thing, cable long is interest positive now (even if not that much) and behaving a lot like the carry ones. See why people say "birds of a feather flock together" cable is in bad companyhttp://www.forexfactory.com/images/icons/icon10.gif
For he that would be deceived, let him.
  • #20,225
  • Jul 19, 2007 8:42pm Jul 19, 2007 8:42pm
Quoting pipology-101
thanks for that input also

see you @ 4:30am GBPGDP q/q (p)
My pleasure, yes 4:30 could change the landscape, but I will take my chances. However, GB is known for leaking news. So if it starts to get stronger leading up to 4:30, it could be foretelling what is going to happen, I might reconsider, but it will have to go above 1.0500 Sept 07 furture or about 1.0515 spot price before it would be a sign, in my opinion.
  • #20,226
  • Jul 19, 2007 9:37pm Jul 19, 2007 9:37pm
Anyone went long?
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  • #20,227
  • Jul 19, 2007 9:43pm Jul 19, 2007 9:43pm
similar "TL Kiss" seen on Euro...
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  • #20,228
  • Jul 19, 2007 9:57pm Jul 19, 2007 9:57pm
Quoting pinchapip
AMD is up....finally !!!!!!!

That's all I care for now...since I have a whole bunch of their shares !!!!!!!!!!!!
I hope you bought down close to the $15 range (or below) ? None of my business though.
  • #20,229
  • Jul 19, 2007 9:59pm Jul 19, 2007 9:59pm
I thought it broke this goddamn trendline !
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  • #20,230
  • Jul 19, 2007 10:03pm Jul 19, 2007 10:03pm
Quoting Mina
I thought it broke this goddamn trendline !
Lol...it did! On your charts...how much do you trust a trendline? esp on 1hr charts... a fill at 400-450 would be nice. hoping for price to correct further.
  • #20,231
  • Jul 19, 2007 10:04pm Jul 19, 2007 10:04pm
Quoting wwwin
I was looking for an excuse to close my long and go short, and I found it. Bollinger Bands, very accurate in the past for this pair, show a short entry today at closing. Short 1.0470, Stop 1.0540, (all prices Sept. 07 Futures) if it goes higher then Stop, it will likely continue higher.
Bigger image at http://members.aol.com/f8222/gbp.jpg Good luck to all. Soros, come back, what goes up must come down.
Well what is that based on? Cable has been hugging a 20,2,2 period Bollinger Band the whole way up from late June. Why short now? We haven't even traded under the low from 2 days ago, yet.
  • #20,232
  • Jul 19, 2007 10:07pm Jul 19, 2007 10:07pm
Quoting SunTrader
I hope you bought down close to the $15 range (or below) ? None of my business though.
Bought at 13.9..and I was really kicking myself because of the rumors about 10.00 or 7.00. Hopefully its going up again..and it looks like they are doing their home work, so maybe I can sell @ 25 or 30 in a few months !!!
For he that would be deceived, let him.
  • #20,233
  • Jul 19, 2007 10:09pm Jul 19, 2007 10:09pm
I wonder where is soros_jr.. bragging so confidently bout cable flying to the star.. but remains silent when cable having a bit correction / retracement.. ITS FRIDAY.. END OF WEEK.. time for cable to reach 2.1000.. err.. may be 2.0800.. err.. make it 2.0600.. err.. nope.. 20500 may be??
  • #20,234
  • Jul 19, 2007 10:11pm Jul 19, 2007 10:11pm
its having problems breaking the 481 support area. a break of that will lead to further down trend but if it cant break it then it will travel north. just my speculation is all.
  • #20,235
  • Jul 19, 2007 10:12pm Jul 19, 2007 10:12pm
actually i acted upon opening a 4h trendline I just attached the 1h because the 4h chart wasn't clear
but it seems it's not the best time to enter a counter trend trade at 4 am gmt
  • #20,236
  • Jul 19, 2007 10:15pm Jul 19, 2007 10:15pm
Quoting treadline
its having problems breaking the 481 support area. a break of that will lead to further down trend but if it cant break it then it will travel north. just my speculation is all.
why do u think 481 is a support area ? just beacuse I sold at 481 doesn't make it a support area
  • #20,237
  • Jul 19, 2007 10:15pm Jul 19, 2007 10:15pm
Quoting pinchapip
Bought at 13.9..and I was really kicking myself because of the rumors about 10.00 or 7.00. Hopefully its going up again..and it looks like they are doing their home work, so maybe I can sell @ 25 or 30 in a few months !!!
I'd think barring a tech or overall market meltdown AMD looks good to fill the 2 open gaps from January. Might be tough to get above $20 though. If it does then you might see your target area $25/30.

But we are a bit of topic. Good luck.
  • #20,238
  • Jul 19, 2007 10:20pm Jul 19, 2007 10:20pm
Quoting treadline
its having problems breaking the 481 support area. a break of that will lead to further down trend but if it cant break it then it will travel north. just my speculation is all.
support line = 2.0470.
  • #20,239
  • Jul 19, 2007 10:26pm Jul 19, 2007 10:26pm
Quoting zamans98
support line = 2.0470.
and what evidence do u have to support this assumption?
  • #20,240
  • Jul 19, 2007 10:28pm Jul 19, 2007 10:28pm
agreed. could see a breakdown to 2.0385 and 2.0405 range after the news. Mina, take a look at gbp/usd on the 1 hour and 1 min charts. 2.0470 area is definate temp support area
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