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Cable Update (GBPUSD)

  • #21,581
  • Jul 27, 2007 7:01am Jul 27, 2007 7:01am
it could be 2.0270 and 2.0260 and if this is broken 2.0220.
  • #21,582
  • Jul 27, 2007 7:06am Jul 27, 2007 7:06am
Quoting Plutonite
Man, I'm missing out on everything, was waiting to go long, nothing happened, went to sleep, woke up to the same selling tune that disregarded all the fibs and bands in the world. Oh well, I'm going to risk going against Igrok's advice and will buy at the nearest opportunity once I see a solid bottom, forgive my francais, tight SL, suicide note included.

Extremely volatile movements against a short term trend cannot go on forever, and 2.0250 is a 38.2 fib of the rise since 8th june.

Good luck.
The biggest problem of most of the newbies and even some veterans is the fact that they have never seen 1000+ pips single day ranges live, which makes them unable to separate "possible" from "impossible".
  • #21,583
  • Edited 7:24am Jul 27, 2007 7:08am | Edited 7:24am
sorry, this is eur/usd chart but check anyway, coz I think it is collerating with cablenow. line is 250EMA, chart 4H

I am favoring longs after us news if turns out as expected or negative
  • #21,584
  • Jul 27, 2007 7:12am Jul 27, 2007 7:12am
Quoting ratman
sorry, this is eur/usd chart but check anyway, coz I think it is collerating with cablenow. line is 250EMA, chart 4H

I am favoring longs after us news if turns out as expected or negative
care to explain why you want to long even though the news is as expected? cable should drop even more as USD is gaining its strength
  • #21,585
  • Jul 27, 2007 7:15am Jul 27, 2007 7:15am
if you are longs, be carefull guys. if we close under 2.0300, it will show us a false break of ending diagonal and after break of rising channel down
we can see 1.85 in the medium term.

US economy is in the worst case and i think it will not be getting worser.
  • #21,586
  • Jul 27, 2007 7:15am Jul 27, 2007 7:15am
Quoting soros_junior
i'm back to my senses now... will ride the wave now... now it's downtrend time... SHORT CABLE SHORT!
Meanwhile at the Soros' Headquarters...
Attached Image
For he that would be deceived, let him.
  • #21,587
  • Jul 27, 2007 7:18am Jul 27, 2007 7:18am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting pinchapip
Meanwhile at the Soros' Headquarters...
I was waiting for someone to say that.
  • #21,588
  • Jul 27, 2007 7:19am Jul 27, 2007 7:19am
Quoting soros_junior
care to explain why you want to long even though the news is as expected? cable should drop even more as USD is gaining its strength
coz news are already priced in as good from us side
  • #21,589
  • Jul 27, 2007 7:19am Jul 27, 2007 7:19am
Quoting Igrok
So far this year Cable have been too easy to trade. The market has been generously depositing some money on almost every dummy's account. There should be a withdrawal time to come up rather sooner than later this year when the market takes the loan back. With some hefty interest of course. I wouldn't even bother with considering longs untill the gap at 1.9745 is filled. In fact, I wouldn't bother with medium term longs at all till the following New Year's eve.
You're too generous - "dummys" made easy money last 2 months on the one way action in cable and Euro, but I doubt any "dummy" lasted the whole year making money.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #21,590
  • Jul 27, 2007 7:25am Jul 27, 2007 7:25am
Quoting Igrok
Falklands?.. Very unlikely. But Malvines have a chance. ))
If you want to know the name of the islands - walk in the Post Office there and buy a post card... but don't ask for sellos and don't make any quick movements

Only joking - my dad was there 2 years and said he would pay argentina to take it - it stinks of seals and penguins - but he doesn't know about all the oil ....

so short oil - long gbp - penguins are always short
  • #21,591
  • Jul 27, 2007 7:29am Jul 27, 2007 7:29am
Quoting pinchapip
Meanwhile at the Soros' Headquarters...
nope... i will short until cable reaches 1.9750 which i believe is going to happen sooner or later
  • #21,592
  • Jul 27, 2007 7:34am Jul 27, 2007 7:34am
GDP better than expected at 3.4% vs expected 3.2%! cable definately going down tonite! yeeee haaaaaaaaaaaa
  • #21,593
  • Jul 27, 2007 7:35am Jul 27, 2007 7:35am
Cable oversold, rising...
Trade the reaction, not the news!
  • #21,594
  • Jul 27, 2007 7:37am Jul 27, 2007 7:37am
Quoting twofeet
Cable oversold, rising...
i'm confused... why is it going up? USD news better than expected!
  • #21,595
  • Jul 27, 2007 7:38am Jul 27, 2007 7:38am
Quoting soros_junior
GDP better than expected at 3.4% vs expected 3.2%! cable definately going down tonite! yeeee haaaaaaaaaaaa
read my last post - and i will pray for all who short here. Think like the banks do before you take a trade.
  • #21,596
  • Jul 27, 2007 7:38am Jul 27, 2007 7:38am
Quoting soros_junior
i'm confused... why is it going up? USD news better than expected!
Because you shorted...
For he that would be deceived, let him.
  • #21,597
  • Jul 27, 2007 7:40am Jul 27, 2007 7:40am
Quoting pinchapip
Because you shorted...

lol
"Millionaires don't use astrology, billionaires do"
  • #21,598
  • Jul 27, 2007 7:40am Jul 27, 2007 7:40am
Quoting Igrok
The biggest problem of most of the newbies and even some veterans is the fact that they have never seen 1000+ pips single day ranges live, which makes them unable to separate "possible" from "impossible".
That's very true, though my problem is not with a single day 1000 pip range, but rather a relentless movement in one direction over several days, particularly in reverse of a short term trend/channel. That totally irks me because it defies the push-pull game in the market that I am used to and which I make most money from.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #21,599
  • Jul 27, 2007 7:41am Jul 27, 2007 7:41am
Quoting twofeet
Cable oversold, rising...
You may be right....
For he that would be deceived, let him.
  • #21,600
  • Jul 27, 2007 7:43am Jul 27, 2007 7:43am
Quoting soros_junior
i'm confused... why is it going up? USD news better than expected!
USD news cannot be good - these numbers make no sense and the bigger players know that which is why they are not buying - the only reason for good GDP is because the low USD got a whole heap of people buying from USA. Their local consumption is negative, household spending is negative, house sales are negative - and now they claim imflation is tamed as well (with months of rising crude prices - what a joke).

i believe the markets should move sideways for the next 3-4 days with a tight range and then get back to USD shorts.

Happy Pipping
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