Cable Update (GBPUSD)

"350 point move in CAD/JPY and AUD/JPY, is the opposite of what the definition of quiet summer ranges should be.

As usual, stop losses have exacerbated the moves lower in the yen crosses. Volume is thin this week and many banks only have junior traders left on their desks. These traders are not likely to take on any news positions and are there just to monitor levels, book trades and watch for stops. Taking on risk is the last thing that senior dealers want their junior dealers to do at this time. As a result, any rebound in carry trades could be limited." -

DailyFX




Oh i get it, there are only shoe lickers in front of the trading desks these days, that's why everyone forgot about yens.

I'll bring beer

OMG, can someone stop these from falling ? This looks so bad man and worse thing is that I'm not making anything off this fall. Damn it !

im prepared to go long IF 9935 bouce...

Enough with boredom, I'll start playing with my pennies and cents(fiddling) now to kill time and try to feel the situation and and and will take serious positions by the time it rings in London, hope you know what.

Cheers and Good Luck to aaaaalllllll fella members here

I just heard a bell ring at the stock market in London, I know its way too early, did anyone else too ?

ClockTrader

Don't worry. You are just staying away from pure mindless raw emotion.

Trading now, is just like wrestling the Incredible Hulk.

Market is pricing in something that many traders don't know how to price.

I think i will stay away for the rest of the week if this goes sideways again.

Something i forget is that when i make a good call i erase 2 or 3 previous losses. So why the hell should i be concerned about losing this mega fall.

Yen credit is cheap. Dollar credit is expensive. Long UJ traders, including big sharks receive good interest, short UJ they lose it.

I'm out for now, but this has to end someday. Panic is not etern!

But that's just me...! Panic crows are allowed to proceed with the shorting.

Clock...don't worry you will get your pips soon. Plenty of pips left and there is still 3 more trading days until the weekend, so stay calm....

I'm still short and will probably close my positions or lock in more profit before London......they always seem to have some kind of fireworks.....

Morning all...

1.9900 is the most valid support to me, as long as GU stays within its current uptrend channel..

It was a combination short covering rally/suckers rally. I'd be surprised if any funds did any big buying the past week or so.

Thanks Turtle and Warper,

I appreciate your moral support, I know its like messing up with the Big Hulk in situations like this, but I have tools and technicals that help me understand whats been happening. Of course I wasn't smart enough to make decent yest. but then someone said here, keep trying baby.

I will trade seriously today BUT will stake small after the London Morning today, I shall hedge and might close after loss, whatever, I shall keep ya guys posted !

we don't need a jump up untill my t/p get hit at 1.9900

DITTO....I could use some more pips.......

all tho i hate to leave pips on the table im keeping my t/p at 1.9900 but don't be surprise if this bad boy tries to find the bottom of hell overnight.

Well, i think that the "big funds" as divine creatures that are never wrong, are a story of the past, like this month told us.

Hedge funds traders can suck just like individual traders do. So if some funds made big buys last week, i wouldn't be surprised either.

I have the proof that i wasn't a "sucker" at least as far as the rally is concerned.

I said many times... "trends don't resume without somekind of retesting", but... since i lost when i predicted that, and the pair freakin rebounded by 650 pips i thought, "well, i was wrong." Maybe i should reconsider....

But i wasn't . I am good making medium term calls, but i trade short term. Too Bad...

I only traded EU in the last days, and the reason was that i thought someday this annoying EU UJ correlation has to end.

Mega UJ drops has happened before and EU or GU rose anyway, so i was hoping that this correlations would stop within this week or the next week.

Looks like GU still forming H&S on daily. Going down?

huuuummmmmmmm

I looooooooooove forex

so do I, in fact it was love at first sight, deeply ever since then, hope my love for financial liquids continue till eternity, let me hug FX tight.

What event changed the path? I'm just watching (drinking single malt too) but I'd guess The cable just wanted to come back up and meet the 5pm est close and resume down.