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Cable Update (GBPUSD)

  • #21,681
  • Jul 27, 2007 12:23pm Jul 27, 2007 12:23pm
still short on the Cable from 2.0430 (+168 pips)
going to close it just before my account gets
disabled for the weekend and take profit then.
“Past performance is not indicative of future results”
  • #21,682
  • Jul 27, 2007 12:27pm Jul 27, 2007 12:27pm
Was kinda blind sided on cable hedge while away from puter but locked in pips so no worries maybe can add longs on the bottom and average for retrace and resolve the negative drawdown on it.

Chunnel longs are thriving

and trying a short Cadbury CT for a little pullback maybe would like 0483 where longs to add are sitting
"Millionaires don't use astrology, billionaires do"
  • #21,683
  • Jul 27, 2007 12:36pm Jul 27, 2007 12:36pm
did anyone notice a huge spike up ? I looked at 2 different chart providers and they both show it......what was that ?
"Lunch ? Lunch Is For Wimps !"
  • #21,684
  • Jul 27, 2007 12:51pm Jul 27, 2007 12:51pm
I have had no "spikes up" today at all on my charts.

if you can post a picture with the time shown it might
help others know what & when your talking about.

*here is my 15 min Cable screen

http://i19.tinypic.com/5ytf4g2.jpg

NO SPIKES FOR ME !!
“Past performance is not indicative of future results”
  • #21,685
  • Jul 27, 2007 12:55pm Jul 27, 2007 12:55pm
Can't post pictures right now, but if you go to the link below and create a daily GBPUSD chart, you'll see it.....

http://www.fxstreet.com/rates-charts/charts-panel/
"Lunch ? Lunch Is For Wimps !"
  • #21,686
  • Jul 27, 2007 12:59pm Jul 27, 2007 12:59pm
Quoting MrFuture
did anyone notice a huge spike up ? I looked at 2 different chart providers and they both show it......what was that ?
which tf?
  • #21,687
  • Jul 27, 2007 1:08pm Jul 27, 2007 1:08pm
Originally Posted by santoso View Post
GBP trend line, let's see whether go up or go down or break the trend line. I may long at 2.0502 after the price move above the resistance 2.0492
your line is under test now

Quoting benssol
your line is under test now
Benssol, sorry Bro, I don't response you.
I have fallen asleep yesterday night, I didn't take any of my long positions because my long position at 2.0502 was not triggered. I shorted at the red horizontal line 2.0369 (at post #21479 or page 1332 of this thread) or less profit. I know that I should have shorted when the uptrend daily break down. I gave up or missed the profit.
  • #21,688
  • Jul 27, 2007 1:11pm Jul 27, 2007 1:11pm
Quoting MrFuture
Can't post pictures right now, but if you go to the link below and create a daily GBPUSD chart, you'll see it.....

http://www.fxstreet.com/rates-charts/charts-panel/

just a screw up or glitch on their system.

http://i11.tinypic.com/662vng1.jpg
“Past performance is not indicative of future results”
  • #21,689
  • Jul 27, 2007 1:13pm Jul 27, 2007 1:13pm
oh, ok...they are not brokers but I wonder if they were, would people's position suffer for such "glitch" ?

That would really be bad....

Future
"Lunch ? Lunch Is For Wimps !"
  • #21,690
  • Jul 27, 2007 1:17pm Jul 27, 2007 1:17pm
Quoting MrFuture
oh, ok...they are not brokers but I wonder if they were, would people's position suffer for such "glitch" ?

That would really be bad....

Future
if somehow a "fat finger" keyed in a wrong number or a glitch like that happened and you got stopped out on a real broker I would call and complain. it happened to me at FXLQ and the guy at the desk went in and set me back to where I was.
“Past performance is not indicative of future results”
  • #21,691
  • Jul 27, 2007 1:21pm Jul 27, 2007 1:21pm
Quoting gobigo12
still short on the Cable from 2.0430 (+168 pips)
going to close it just before my account gets
disabled for the weekend and take profit then.

Closed at 2.0270 (+160 pips)
I'm outta here with a good profit this week.

have a great weekend people !
“Past performance is not indicative of future results”
  • #21,692
  • Jul 27, 2007 1:24pm Jul 27, 2007 1:24pm
that's nice to know....thanks



Anyways, as to why all of a sudden GBPUSD is going down even with bad US news.....guys, it all comes to this: what goes up, must come down.

All the people who made good money on the recent climb of the GBP had to sell sooner or later, and that's what they did....

Longterm, however, I still see the GBP going up, especially when all these negative US news keep coming out....in the long run the $ will suffer....just my two cents

Future
"Lunch ? Lunch Is For Wimps !"
  • #21,693
  • Jul 27, 2007 1:28pm Jul 27, 2007 1:28pm
Quoting MrFuture
that's nice to know....thanks



Anyways, as to why all of a sudden GBPUSD is going down even with bad US news.....guys, it all comes to this: what goes up, must come down.

All the people who made good money on the recent climb of the GBP had to sell sooner or later, and that's what they did....

Longterm, however, I still see the GBP going up, especially when all these negative US news keep coming out....in the long run the $ will suffer....just my two cents

Future
wouldnt it be nice to know when its gonna turn back up again?!
  • #21,694
  • Jul 27, 2007 1:28pm Jul 27, 2007 1:28pm
or where. . .
  • #21,695
  • Jul 27, 2007 1:36pm Jul 27, 2007 1:36pm
Quoting MrFuture
that's nice to know....thanks



Anyways, as to why all of a sudden GBPUSD is going down even with bad US news.....guys, it all comes to this: what goes up, must come down.

All the people who made good money on the recent climb of the GBP had to sell sooner or later, and that's what they did....

Longterm, however, I still see the GBP going up, especially when all these negative US news keep coming out....in the long run the $ will suffer....just my two cents

Future
well the UK didn't have a good week in the Housing dept. either and that could be part.
amongst some other data out in the US.

GBP Rightmove House Price Index m/m -------------Actual 0.3% Previous 0.8%
GBP Nationwide House Prices m/m -----------------Actual 0.1% Previous 1.1%
GBP BBA Mortgage Approvals ----------------------Actual 75.3k Previous 77.4k
“Past performance is not indicative of future results”
  • #21,696
  • Jul 27, 2007 1:43pm Jul 27, 2007 1:43pm
Hello everyone nice to read ur all forum!
Maybe I need ur help!
Please give me some PIPS
  • #21,697
  • Jul 27, 2007 1:49pm Jul 27, 2007 1:49pm
Quoting indo_trader
Hello everyone nice to read ur all forum!
Maybe I need ur help!
Welcome to the thread, we r now 1448 pages, are you going to read them all as you mentioned above
  • #21,698
  • Jul 27, 2007 2:23pm Jul 27, 2007 2:23pm
Quoting Leugimp
This may be in terms of initiating new Dollar long positions - however the extreme COT numbers are warning of a correction pretty soon . We have small specs extreme long and commercials extreme short. Once the snowball starts, it will be hard to stop until commercials start shifting their weight.

Remember correction earlier in the year. So many bought the idea of 2.0000 but at the wrong spot - then the correction came and everyone forgot about long term trend and leveraged up to cover earlier losses, only for the trend direction to kick back in and wipe em all out. Not saying go long dollar, but be careful. I have been right many times about where price is going only to lose money not taaking into consideration how it can get there.

Theres alot of leverage out there adding to dollar shorting at this point in time - Once this starts to unwind, be prepared.



Quoting Leugimp
I too am on sidelines waiting for big correction to start buying again. 130 looks very probable in coming weeks. who knows but 1 thing is for sure - COT is extreme and warning of a big correction or reversal.

Looks like the COT extreme readings have warned us again of this overextension. Trend still looking strong and will be looking for good safe levels to enter buy orders.
Man who scratches ass should not bite fingernails
  • #21,699
  • Jul 27, 2007 2:34pm Jul 27, 2007 2:34pm
Support levels to watch are: 2.0135, 1.9840
Biggest joker
  • #21,700
  • Jul 27, 2007 2:45pm Jul 27, 2007 2:45pm
Like cesarnc said....

Look for the pound to head down to the 50% retracement from this last high, which would be around the 0140ish level before I go long. Unless we get back to near 0350 which was the last push up this morning before the longs threw in the towel for the weekend. If it gets past 0120 or lower then we will be heading back to the important 2.0000 AGAIN...

Just my two pips.....
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