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Cable Update (GBPUSD)

  • #20,421
  • Jul 20, 2007 6:02am Jul 20, 2007 6:02am
Transition points funny business, retracements should be fast and furious. quickly eating stops and stimulating bulls out of the woodwork. The structure in cable seems different, like this is a medium term top reversal. This wont be a quick process until they distribute their holdings.

Like Soros said sell sell sell LOL and take vacation no fast money here until it starts rolling
"Millionaires don't use astrology, billionaires do"
  • #20,422
  • Jul 20, 2007 6:03am Jul 20, 2007 6:03am
It's a mid / long term view.

Nothing related to "day-trading" or to gain somes pips... not gambling allowed in investing.
For sure if your limits (SL) are around 40 or 100 pips we do not play in the same room.
When you move 20, 30 millions or more on the market, you have definitely another view... it why it's long term view. not a daily or weekly.

peace.
  • #20,423
  • Jul 20, 2007 6:17am Jul 20, 2007 6:17am
Your problems with GBP will be perhaps end soon

DJ UK PM Brown: No Proposals To Join Euro In Near Future
20.07.07 13:03:00- BNEU

PARIS (Dow Jones)--There are currently no proposals that have been submitted to the U.K. parliament to join the euro, Prime Minister Gordon Brown said Friday.
"I cannot say that there are any proposals to join the euro in the near
future," Brown said, after being asked whether the U.K. is considering joining
the European common currency. "It's obviously a matter that is kept under
review," he added.
"We've had debates on the single currency for some time. I had to make a
recommendation to the U.K. Parliament a few years ago as to whether it was in our interest at this stage to join the euro," Brown said. "We decided it was
not the right time for the British economy given the degree of conversion that had to take place."
  • #20,424
  • Jul 20, 2007 6:18am Jul 20, 2007 6:18am
Quoting dswk
It's a mid / long term view.

Nothing related to "day-trading" or to gain somes pips... not gambling allowed in investing.
For sure if your limits (SL) are around 40 or 100 pips we do not play in the same room.
When you move 20, 30 millions or more on the market, you have definitely another view... it why it's long term view. not a daily or weekly.

peace.

Dswk, yea i agree with you, alot of ppl have a hard time wrapping their minds around such depths, everyone wants instant gratifications.
"Millionaires don't use astrology, billionaires do"
  • #20,425
  • Jul 20, 2007 6:18am Jul 20, 2007 6:18am
Quoting dswk
UBS Bank forecast for GBP/USD (on 13/Jul/07):

Actual (on 13/Jul/07) : 2.0342
forecast 3mths : 1.9700
forecast 6mths : 1.9400
forecast 12mths : 1.8900
That UBS analyst must be smoking crack in the weekends. Or maybe even on the job?

USD Strength? C'mon people! This is just the desperate bounces of a very dead cat...
  • #20,426
  • Jul 20, 2007 6:23am Jul 20, 2007 6:23am
Quoting ganymedes
That UBS analyst must be smoking crack in the weekends. Or maybe even on the job?

USD Strength? C'mon people! This is just the desperate bounces of a very dead cat...


Long term, not in the next 5 minutes!
  • #20,427
  • Jul 20, 2007 6:25am Jul 20, 2007 6:25am
Quoting allserene
This is the kind of rhubarb that used to cause me big losses - CEO of Barclays saying buy BT if it EVER falls to Ģ12 - mortgage your house and buy it all- it fell to Ģ2 something and I finally learned that these people know NOTHING

That guy has moved on and is still spouting this stuff at the top of the profession... I could do better noting which direction the cows are standing in today ...
While everyone who took the advice bought at 12Ģ they were shorting like idiots. so the guy pocketed a HUGE BONUS...
.
  • #20,428
  • Jul 20, 2007 6:27am Jul 20, 2007 6:27am
Quoting OrionsWay
A nice euppy setup excellent R/R short 168.62 SL high +spread TP min 166.98
thanks a lot for this signal, took it and +9 so far - what's your system for this pair ?
  • #20,429
  • Jul 20, 2007 6:32am Jul 20, 2007 6:32am
Current 4 hour chart up dated......next week should be interesting


Transition points funny business, retracements should be fast and furious. quickly eating stops and stimulating bulls out of the woodwork. The structure in cable seems different, like this is a medium term top reversal. This wont be a quick process until they distribute their holdings.


The quote is from Orions Way # 20437 a few moments ago....I think it sums up the situation as I see it too...thanks OW
Trading Levels with WRBs
  • #20,430
  • Jul 20, 2007 6:32am Jul 20, 2007 6:32am
Quoting allserene
This is the kind of rhubarb that used to cause me big losses - CEO of Barclays saying buy BT if it EVER falls to Ģ12 - mortgage your house and buy it all- it fell to Ģ2 something and I finally learned that these people know NOTHING

That guy has moved on and is still spouting this stuff at the top of the profession... I could do better noting which direction the cows are standing in today ...
The cows down south are sheltering from the weather whilst those up north in Gods County are basking in sunshine !
  • #20,431
  • Jul 20, 2007 6:35am Jul 20, 2007 6:35am
Quoting Islander
Current 4 hour chart up dated......next week should be interesting


Transition points funny business, retracements should be fast and furious. quickly eating stops and stimulating bulls out of the woodwork. The structure in cable seems different, like this is a medium term top reversal. This wont be a quick process until they distribute their holdings.


The quote is from Orions Way # 20437 a few moments ago....I think it sums up the situation as I see it too...thanks OW
Now with the chart!
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr jly 20.jpg Size: 62 KB
Trading Levels with WRBs
  • #20,432
  • Jul 20, 2007 6:36am Jul 20, 2007 6:36am
Everything was crap back then, mind you , he should have warned of the bubble bursting. As a BT employee I know plenty of employees with massive share options who lossed a paper fortune and their retirement bonus and have never recovered - fortunatley not me !
  • #20,433
  • Jul 20, 2007 6:37am Jul 20, 2007 6:37am
Quoting dswk
Your problems with GBP will be perhaps end soon

DJ UK PM Brown: No Proposals To Join Euro In Near Future
20.07.07 13:03:00- BNEU

PARIS (Dow Jones)--There are currently no proposals that have been submitted to the U.K. parliament to join the euro, Prime Minister Gordon Brown said Friday.
"I cannot say that there are any proposals to join the euro in the near
future," Brown said, after being asked whether the U.K. is considering joining
the European common currency. "It's obviously a matter that is kept under
review," he added.
"We've had debates on the single currency for some time. I had to make a
recommendation to the U.K. Parliament a few years ago as to whether it was in our interest at this stage to join the euro," Brown said. "We decided it was
not the right time for the British economy given the degree of conversion that had to take place."
so what? u think that cable will weaken?
  • #20,434
  • Jul 20, 2007 6:37am Jul 20, 2007 6:37am
Quoting cesarnc
No, likely a profit taking day in Dow Jones due to daily close at 14,000. This is what is EXPECTED.
Regarding the Dow: I have put on my "retarded contrarian" hat today.
I expect the Dow to end above 14000 with a rally.
My setup is quite insane, but gives a pleasant R:R of 1:20 if Dow goes really nutty and close between 14080 and 14100.
  • #20,435
  • Jul 20, 2007 6:40am Jul 20, 2007 6:40am
Quoting zoheir
thanks a lot for this signal, took it and +9 so far - what's your system for this pair ?

Just think we finished major 12345 set with 1orA 2orB at the top with a minor abc inside that 1 or 2 and a reversal bar at the top of the minor abc. the actual entry was is suppose to be 168.36 for same target area having a 2:1 R/R but entered early at the 62 so we jusst dbled our better R/R to around 5:1 for target. And i believe should we take out that 168.36 entry level to short we can move SL to the last hi hr bar around 68.72 to even better the R/R again. We could be looking at a very nice drop below the major prior low so maybe like to hold for a period. With that in mind the swaps are fairly cheap as well. So Zoheir Best of trading to you and myself on this trade
"Millionaires don't use astrology, billionaires do"
  • #20,436
  • Jul 20, 2007 6:43am Jul 20, 2007 6:43am
Quoting soros_junior
so what? u think that cable will weaken?
nope... but GBP will disappear if UK adopt EURO ...
  • #20,437
  • Jul 20, 2007 6:45am Jul 20, 2007 6:45am
Chunnel poised to make major move North,
"Millionaires don't use astrology, billionaires do"
  • #20,438
  • Jul 20, 2007 6:47am Jul 20, 2007 6:47am
A lot of people here are expecting a retracement (me too) but analyzing the chart I see a weaker up trend but still solid and price and sinusoid still support a continuation. Letīs wait and see....

http://img293.imageshack.us/img293/8...7064158fl9.png
Johann Channels and cycles are everything
  • #20,439
  • Jul 20, 2007 6:48am Jul 20, 2007 6:48am
Quoting musicman007
Everything was crap back then, mind you , he should have warned of the bubble bursting. As a BT employee I know plenty of employees with massive share options who lossed a paper fortune and their retirement bonus and have never recovered - fortunatley not me !
As I said they were shorting and pocketed a huge profit. ZERO SUM GAME..
.
  • #20,440
  • Jul 20, 2007 6:50am Jul 20, 2007 6:50am
Quoting dimmi
Long term, not in the next 5 minutes!
Yes, the time frame was quite clear:

forecast 3mths : 1.9700
forecast 6mths : 1.9400
forecast 12mths : 1.8900


Regarding the estimates: Good luck, but be prepared for heavy losses...
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