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Cable Update (GBPUSD)

  • #28,001
  • Aug 30, 2007 1:43pm Aug 30, 2007 1:43pm
Quoting pinchapip
Again guys....I'm a newbie...and even if I wasn't I don't think I would be able to know for sure what's to come. But the stock market is behaving too much like before the big crashes. Good news are bad news and bad news are good news...the Dow up and down like crazy. Something BIG is on the verge of happening.

Up or down is the timeless theme.....but I have a gut felling that a few Soros's ( the senior) will make billions !!!!!!!!!!!!!!!
Yes indeed...shaky market at the moment...DOW down -40....it was just about breakeven....

Folks are concern....and if somebody is making a billion can they please throw some my way..........
  • #28,002
  • Aug 30, 2007 1:53pm Aug 30, 2007 1:53pm
cable you hardly penetrate the support @ 2.013's in the morning, it was so simple for you, so don't act as if it is difficult for you to breach it again now
F**K Cable again
  • #28,003
  • Aug 30, 2007 1:53pm Aug 30, 2007 1:53pm
Just read this in Financial times, (very reassuring) :

“If every CDO [manager] was forced to mark to market their subprime holdings, it would be – well, I can’t think of a strong enough word to describe what it would be,” confesses a US policymaker.
  • #28,004
  • Aug 30, 2007 1:59pm Aug 30, 2007 1:59pm
EUR is falling more than you falling, you bastard!!
  • #28,005
  • Aug 30, 2007 2:06pm Aug 30, 2007 2:06pm
Quoting cesarnc
I agree with that... What I call B.S> is that everytime dow closes green you read "turmoil is behind, we've found the bottom, worst is over".

Early on next day, dow futures is -10 and you read "market turmoil goes on, we may haven't seen the bottom yet, the worst is yet to come"... I mean, if you read the newswires so compulsively as I do, you wouldn't believe.

Today's CNBC was:
- Stocks tumble on interest-rate worries
- Stocks off lows, but credit turmoil worries remain
- Stocks in positive area despite credit turmoil worries....

If Dow Jones closes at 13.4K today we will read. Stocks soared on credit worries waning.
Got what you were trying to say Cesar !!!!

I know you can be a bear or bull according to the market...and that is beyond being smart, it is a matter of survival....thats why you have everybody's respect here !!!

Now disregarding what the media is saying, since they don't have a clue. I still think forex will continue to be counter-intuitive. The dollar is between a rock and a hard place....BUT...counter-intuitively it should go against all odds and cable should tank....big time !!!!!

Am I right ????? Don't know....I'm just trying to explain why I'm disguised as a bear at the moment.

Take a look at the chart below....(from MIMO, a great trader from Slovakia) it is about the cable's cousin EUR/USD.....but maybe it will give you guys an idea of where I'm coming from.

I'm just trying to help.....if I'm wrong, the bulls can feast on my account !!!!
For he that would be deceived, let him.
  • #28,006
  • Aug 30, 2007 2:06pm Aug 30, 2007 2:06pm
2.0133 was the 2nd key for cable today, now cable had an hourly close below this figure 2.0132 which is a good sign for breaching this level, but cable now doesn't follow anything, it's just moving upwards and downwards without any goal, just to say that it is here and still alive
  • #28,007
  • Aug 30, 2007 2:08pm Aug 30, 2007 2:08pm
Quoting pinchapip
I'm just trying to help.....if I'm wrong, the bulls can feast on my account !!!!
The bulls is pissing in my account coz of the crazy moves of the cable today
  • #28,008
  • Aug 30, 2007 2:10pm Aug 30, 2007 2:10pm
sorry guys ...there yah go.... the chart
Attached Image (click to enlarge)
Click to Enlarge Name: Mimo chart.jpg Size: 92 KB
For he that would be deceived, let him.
  • #28,009
  • Aug 30, 2007 2:11pm Aug 30, 2007 2:11pm
here we come pino : just wait
  • #28,010
  • Aug 30, 2007 2:18pm Aug 30, 2007 2:18pm
Quoting pino2
just to say that it is here and still alive
I'm glad it is alive, cause I have to eat this week
To laugh, to learn, and to teach!
  • #28,011
  • Aug 30, 2007 2:28pm Aug 30, 2007 2:28pm
The good thing is I can see lower highs and lower lows, and lower hourly close for the last 4 hours, in addition of breaching 2.0133, and an hourly close below this figure, so good job cable, we need more
  • #28,012
  • Aug 30, 2007 2:44pm Aug 30, 2007 2:44pm
"Carry Trade Meltdown: Comparing August 2007 with October 1998

The losses in carry trades have exacerbated by a few hundred pips after the flat Philly Fed reading and continual tumble in the Dow. Even the VIX index hit a 2003 high. Everyone is comparing today's move to October 1998, when the Yen crosses fell from 1000 to 3000 pips over the course of a few trading days.
October 1998 is the closest comparison to the current financial crisis. That was the year that Russia defaulted on its debt and Long Term Capital faced major losses. At the time, the Federal Reserve responded with multiple interest rate cuts. Below a comparison of the most recent price action against the price action in October 1998. The moves over the past few days still pale in comparison to the moves that we saw nine years ago. Therefore now is not the time to increase risk. Big moves like today necessitate lower leverage."
For he that would be deceived, let him.
  • #28,013
  • Aug 30, 2007 2:46pm Aug 30, 2007 2:46pm
Quoting pino2
The good thing is I can see lower highs and lower lows, and lower hourly close for the last 4 hours, in addition of breaching 2.0133, and an hourly close below this figure, so good job cable, we need more
I think you may relax pino... all this crap today gave nothing but another triangle in the 4hr. lower trendline at about 0075. No reason why not could be pierced with this volatility....

I just would not consider expecting too much more than that to the downside... Odds favour a more and more ranging market until tomorrow Bernie's Golden B.S.
  • #28,014
  • Aug 30, 2007 2:47pm Aug 30, 2007 2:47pm
This is what I mean....
Attached Image
  • #28,015
  • Aug 30, 2007 2:47pm Aug 30, 2007 2:47pm
pretty close to the goal mentioned earlier - 2.0100
  • #28,016
  • Aug 30, 2007 2:51pm Aug 30, 2007 2:51pm
10:29am EST

Quoting Warper
I'm out.

Long EU 0 pips.
Long GY +30 pips.

Why the hell am i doing trading today?

...

Today it's just wierd trading.

I left my trades on profit and i'm happy that i don't care about it.

Danger vs Profit too high whatever anyone says!
Just got home and oh boy, i'm sorry to say but.... damn right i was.
  • #28,017
  • Aug 30, 2007 3:05pm Aug 30, 2007 3:05pm
Pathetic day to trade...

On my side I manage not to lose and ended up winning a tiny profit...

LOL... You don't know what it means to me... A MASSIVE achivement

I used to lose my shoes, dog, bike, goldenfish everything trying to chase the market during days like this...

Hope, sincerily hope those days are over...

The good news: tomorrow is Friday... I love'em
  • #28,018
  • Aug 30, 2007 3:10pm Aug 30, 2007 3:10pm
Look, i was here in some of those days, at least the most recent ones.

You might not remember me, but i was right here everyday in May trading the correction of Cable.

I will never forget... 3.1 Inflation and the bank rose rates and switched clearly to hawkish and the freakin market droping 200 pips in the same day.

What i have to say my friend?... Just this... We damn learned!!!

http://www1.istockphoto.com/file_thu..._champagne.jpg
  • #28,019
  • Aug 30, 2007 3:11pm Aug 30, 2007 3:11pm
Quoting pinchapip
sorry guys ...there yah go.... the chart
Looking at the chart...I guess the euro will be heading down....question is how much will the cable follow....
  • #28,020
  • Aug 30, 2007 3:15pm Aug 30, 2007 3:15pm
Up...down...up...down....what another wild day in cable land.

My 1hr charts looks like my kids trying to draw something......


DOW ended down -50...yep....sets up a ranging market until Uncle Benny speaks tomorrow...
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