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Cable Update (GBPUSD)

  • #841
  • Dec 5, 2006 1:48pm Dec 5, 2006 1:48pm
yes, the thing im looking at is the fact were at multimonth historical highs on cable... a test of 2.00 is possible.. but dont throw the dollar down the toilet just yet, at the first sign of strenght this thing is gonna turn hard.
  • #842
  • Dec 5, 2006 2:26pm Dec 5, 2006 2:26pm
Quoting enoc2g
yes, the thing im looking at is the fact were at multimonth historical highs on cable... a test of 2.00 is possible.. but dont throw the dollar down the toilet just yet, at the first sign of strenght this thing is gonna turn hard.
Read an article, not sure where, a lot of the so-called "experts" are waiting to see where consumer spending will be for the rest of the Holiday Season. Well, if "they" were waiting on this for our household, the US Dollar is in SERIOUS trouble!!
  • #843
  • Edited 3:09pm Dec 5, 2006 3:07pm | Edited 3:09pm
[quote=mtcdavs]Read an article, not sure where, a lot of the so-called "experts" are waiting to see where consumer spending will be for the rest of the Holiday Season. Well, if "they" were waiting on this for our household, the US Dollar is in SERIOUS trouble!![/QUO


What I have seen so far is an announcement from WalMart that they expected pooor Christmas sales and everything else I have heard from surveys of smaller stores indicates the same thing. This does not look good.

There is also a new problem. With the decrease in value of the USD all european imports are going to be much more expensive than before which will discourage sales of those items. It is debatable whether those buyers will turn around and buy something else. Some probably will and many probably will not. This will further decrease sales.

The only ray of hope will be for european tourists to come over in extremely large numbers to buy the american bargains. While I am certain that some will, I doubt that it will make up for the loss of sales to americans.
  • #844
  • Dec 5, 2006 3:47pm Dec 5, 2006 3:47pm
Right now 1hr chrt eurusd and gdpusd are showing sell signal..

im holdin my longs but just an observation
  • #845
  • Dec 5, 2006 4:04pm Dec 5, 2006 4:04pm
Quoting Tatton
Right now 1hr chrt eurusd and gdpusd are showing sell signal..

im holdin my longs but just an observation
im holding also my longs, fist tp 1.99 second tp 2.0030. but my emotions are shaky.
  • #846
  • Dec 5, 2006 4:07pm Dec 5, 2006 4:07pm
Right now it looks as though a descending triangle is forming on the 15 minute chart. There seems to be a resistance at 1.729.
  • #847
  • Dec 5, 2006 4:12pm Dec 5, 2006 4:12pm
Well I am rather new to Forex trading...still learning as much as I can every day and trying to take it easy....After much reading, and taking advisement and studying the charts , I too decided to go long with this, but I entered too early and am sitting on a negative side of things right now.

I really think this is going to go bullish overall, but it's racking my nerves looking at it stay down for so long. I am simply trying not to watch too much...and hoping that it goes bullish soon.
  • #848
  • Dec 5, 2006 4:14pm Dec 5, 2006 4:14pm
Quoting dawnrenee2000
but I entered too early and am sitting on a negative side of things right now.

I really think this is going to go bullish overall, but it's racking my nerves looking at it stay down for so long. I am simply trying not to watch too much...and hoping that it goes bullish soon.
same emotions thanks
  • #849
  • Dec 5, 2006 4:20pm Dec 5, 2006 4:20pm
My question right now is;

How much can be expected on the upswing of things? Is it expected to climb back up to the .9800 range or to be stopped at the .9740 once again and drop?
  • #850
  • Dec 5, 2006 4:30pm Dec 5, 2006 4:30pm
9630's before going up then down to the 9100's



Quoting dawnrenee2000
My question right now is;

How much can be expected on the upswing of things? Is it expected to climb back up to the .9800 range or to be stopped at the .9740 once again and drop?
  • #851
  • Dec 5, 2006 4:32pm Dec 5, 2006 4:32pm
hope you have a big stop



Quoting baggermatsch
im holding also my longs, fist tp 1.99 second tp 2.0030. but my emotions are shaky.
  • #852
  • Dec 5, 2006 4:36pm Dec 5, 2006 4:36pm
I am expecting cable to decline to 1.9685 then another upside to atleast 1.9740.........i have gone short for the moment. T.p 1.9690

what do you guys think?
  • #853
  • Dec 5, 2006 4:37pm Dec 5, 2006 4:37pm
sounds good to me



Quoting venomdesignsUK
I am expecting cable to decline to 1.9685 then another upside to atleast 1.9740.........i have gone short for the moment. T.p 1.9690

what do you guys think?
  • #854
  • Dec 5, 2006 4:38pm Dec 5, 2006 4:38pm
I try to make some small pips this morning Manila time. Sell G/U @ 1.9720 , T/P 1.9680, S/L 1.950. Let's see what happens before London opens today.
  • #855
  • Dec 5, 2006 4:39pm Dec 5, 2006 4:39pm
Same as mine.
  • #856
  • Dec 5, 2006 4:43pm Dec 5, 2006 4:43pm
Quoting venomdesignsUK
I am expecting cable to decline to 1.9685 then another upside to atleast 1.9740.........i have gone short for the moment. T.p 1.9690

what do you guys think?

I'm going to break my computer and send it to a store that will not have it fixed till next week or at least till after a non-revised NFP release!!!! LOL
  • #857
  • Dec 5, 2006 4:48pm Dec 5, 2006 4:48pm
stay calm brother! lol no need to break that poor pc! it aint done nothing wrong! lol if you loose, you learn from it! Thats what ma pappa says! lol Not helpful! lol

peace
  • #858
  • Dec 5, 2006 6:26pm Dec 5, 2006 6:26pm
Did anyone notice that this current dollar dive took place right after the most recent meeting of the world's top central banks a couple of weeks ago? The meeting out of which NO NEWS ever comes?

China put the spook into everyone and now it's all panic time and the death of the dollar. I do believe, to parahrase Mark Twain, the reports of its death are greatly exaggerated.

Someone is being taught a lesson. We speculators are just the beneficiaries of it.

AFF
FOREX = 21st century alchemy.
  • #859
  • Dec 5, 2006 7:19pm Dec 5, 2006 7:19pm
You are a forex guru in the making. I see you've learned early that the object to winning in any form of trading is to trade the trends. And to follow the price not the system.

Quoting kenmania
Sometimes currencies move the same direction in spite of "overbought" or "oversold" conditions.

What does a stochastic know from "overbought" anyway? It's only algorithms and ticks measured on a screen. It can't provide analysis for why the currency is behaving the way it is...it just tells you that it is.

I'm not an expert, but I can almost guarantee that the money-movers aren't paying attention to such stats. They're buy or selling relative to the strength or weakness of the currency itself.

There are very good reasons why the dollar is trending downward. It would be sage to focus on why that's happening rather than technical indicators in this situation.

Just my opinion.
A. Finesse Williams Making Millions One Pip At A Time!
  • #860
  • Dec 5, 2006 7:21pm Dec 5, 2006 7:21pm
Quoting afemi94ce
Did anyone notice that this current dollar dive took place right after the most recent meeting of the world's top central banks a couple of weeks ago? The meeting out of which NO NEWS ever comes?

China put the spook into everyone and now it's all panic time and the death of the dollar. I do believe, to parahrase Mark Twain, the reports of its death are greatly exaggerated.

Someone is being taught a lesson. We speculators are just the beneficiaries of it.

AFF
I suspect, AFF, you are probably on to something here. Other reports burried in news web sites suggest the dollar isn't hurt as bad as people are making it out to be. So, is China being set up for a big upswing in it's currency? There were further rumors of China selling off it's US Dollar holdings but, as I can see, hasn't happened. Also, EUR/JYP has been making some interesting moves in the mist of all of this as well. Only, the spread on that pair was to scary for me to trade. To be truthful, who knows??? I'll just continue to hold to my short on the EUR and see what happens. What else can we do, right???

As Aswelled was saying above, just follow the trend and trade as the markets tell you. People have been analyzing all these moves to death but, the price keeps moving, one way or another. What else can be said???
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