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Cable Update (GBPUSD)

  • #28,501
  • Sep 3, 2007 3:41am Sep 3, 2007 3:41am
Quote
Just hit me that the holiday in US could affect the brokers activities. Just checked with IBFX, they will be open.

Don't know about other brokers, though

Won't it be crazy if brokers are closed while FX is running ?
I know this happens around X-mas which is acceptable.
But, its insane if they close today.
Hello World!
  • #28,502
  • Sep 3, 2007 3:41am Sep 3, 2007 3:41am
Quoting cesarnc
Just hit me that the holiday in US
Yup, Im not trading today.
  • #28,503
  • Sep 3, 2007 3:42am Sep 3, 2007 3:42am
Quoting Moe
would that be fxsol?
Yes sir.....
  • #28,504
  • Sep 3, 2007 3:44am Sep 3, 2007 3:44am
the pair closed above 2.0190 last hour which made me confident that we would go up...
but i also neglected the US holiday...

so dissapointed.
give me my pips back...
  • #28,505
  • Sep 3, 2007 3:51am Sep 3, 2007 3:51am
Quoting cesarnc
yeah, let's see... so far there was just 1 buy stop above 0200 - mine. The rest of the people placed sell limits
Cesar, placing an order above 200 as yours 210 was not a good idea, either you would have placed an order above 230 or @ 194, IMO
  • #28,506
  • Sep 3, 2007 4:00am Sep 3, 2007 4:00am
Quoting pino2
Cesar, placing an order above 200 as yours 210 was not a good idea, either you would have placed an order above 230 or @ 194, IMO
don't know yet.... 0194 / 0210 sounds like the samething to me. But Friday's top and todays high (so far) expanded the damn triangle instead of cracking it.

If there's no punch to the upside, cable will trade 0110 today.

Market is still tooooo slow across the board. Hard to figure out yet. It was wierd how cable spiked up in the last hours of Asia to freezes when Euope kicked in
  • #28,507
  • Sep 3, 2007 4:02am Sep 3, 2007 4:02am
Quoting cesarnc
don't know yet.... 0194 / 0210 sounds like the samething to me. But Friday's top and todays high (so far) expanded the damn triangle instead of cracking it.

If there's no punch to the upside, cable will trade 0110 today.

Market is still tooooo slow across the board. Hard to figure out yet
Unfortunately I am still holding my short positions, otherwise I would not trade this market... So I am just waiting meanwhil I've put bail out stop 2.0230...
.
  • #28,508
  • Sep 3, 2007 4:09am Sep 3, 2007 4:09am
My long trade @ 2.0150 is on fire now, if cable went down below 2.0175, my SL @ 2.0150 might be hit
Cable, just be good and please stay above 190, the strong UK Manufactoring PMI figures helps your upside move and it mustn't be skipped
  • #28,509
  • Sep 3, 2007 4:10am Sep 3, 2007 4:10am
Its kinda moving sideways for the last few hrs, London bell hasn't ignited any adrenaline in any direction yet, lets see...
Hello World!
  • #28,510
  • Sep 3, 2007 4:10am Sep 3, 2007 4:10am
Quoting pino2
My long trade @ 2.0150 is on fire now, if cable went down below 2.0175, my SL @ 2.0150 might be hit
Cable, just be good and please stay above 190, the strong UK Manufactoring PMI figures helps your upside move and it mustn't be skipped
pino hold on, dont let them fool ya again!!...u should trust noone but ur self!
its just money
  • #28,511
  • Sep 3, 2007 4:29am Sep 3, 2007 4:29am
Quoting pino2
My long trade @ 2.0150 is on fire now, if cable went down below 2.0175, my SL @ 2.0150 might be hit
Cable, just be good and please stay above 190, the strong UK Manufactoring PMI figures helps your upside move and it mustn't be skipped
Pino2, you're bound for a ranging day today. Don't chew your nails. Your stop is secured at breakeven and there's going to be little-to-no action whatsoever in the markets for the rest of the day. The best thing you could do is to shut the trading station down and go out.
  • #28,512
  • Sep 3, 2007 4:31am Sep 3, 2007 4:31am
Wew...US and CAD banks on holiday...It sounds like "No Trading" today for me... You know, lack of liquidity and volumes, lack of volatility....I better stay out today...
Hello World
  • #28,513
  • Sep 3, 2007 4:36am Sep 3, 2007 4:36am
Quoting dd33
I think the retest of 180-ish is done. And its heading to test 230-ish.
Im sorry.. i think i speak too soon. US in holiday and London decided to do nothing bout it. (again.. i may speak too soon What do i know anyway..
  • #28,514
  • Sep 3, 2007 4:39am Sep 3, 2007 4:39am
It's interesting how the stock market recovered all losses of August, but the currencies didn't. Specially the carry trades...

Some called for "risk repricing" in the middle of the crisis. I see what it means now...

Money jumped out of the carries and didn't come back, although it flowed back to the stocks....

This damn market gets harder and harder as time goes by. Watching AUD the big mover during European session makes you go huummmmm
  • #28,515
  • Sep 3, 2007 4:45am Sep 3, 2007 4:45am
seems like the price will hit 2.0160

i am still holding my long position though
tomorrow we should see 2.0267
give me my pips back...
  • #28,516
  • Sep 3, 2007 4:46am Sep 3, 2007 4:46am
Quoting cesarnc
It's interesting how the stock market recovered all losses of August, but the currencies didn't. Specially the carry trades...

Some called for "risk repricing" in the middle of the crisis. I see what it means now...

Money jumped out of the carries and didn't come back, although it flowed back to the stocks....

This damn market gets harder and harder as time goes by. Watching AUD the big mover during European session makes you go huummmmm
Any thoughts on this one? From the book of John C. Hull. (But in general it still might hold.) I've changed a bit to reflect forex. Any thoghts cesarnc?

"The Markov property of stock [forex] prices is consistent with the weak form of the market efficiency. This states that the present price of a stock [currency] impounds all the information contained in a record of past prices. If the weak form of market efficiency were no true, technical analysts could make above-average returns by interpreting charts of the past history of stock [currency] prices. There is very little evidence that they are in fact able to do this. It is competition in the marketplace that tends to ensure that weak-form market efficiency holds. There are many, many investors watching the stock [currency] market closely. Trying to make a profit from it leads to a situation where a stock [currency] price, at any given time, reflects the information in past prices. Suppose that it was discovered that a particular pattern [price action] in stock [currency] prices always gives 65% chance of subsequent steep price rises. Investors [traders] would attempt to buy a stock [currency] as soon as the pattern observed, and demand for the stock [currency] would immediatelky rise. This would lead to an immediate rise in its price and the observed effect would be eliminated, as would any profitable trading opportunities."
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  • #28,517
  • Sep 3, 2007 4:49am Sep 3, 2007 4:49am
Quote
You know, lack of liquidity and volumes

yet, my judgment is that there shall be decent volumes traded in the next 24 hrs, of course including US session ahead, despite holiday there.

I think its the sensitivity of the scenarios which agitates traders to play with the max risk they can take.

Right now cable looks in a bad mood, lets see how it goes...
Hello World!
  • #28,518
  • Sep 3, 2007 4:50am Sep 3, 2007 4:50am
That's it for me, I'm out...

Trading 0212 to get back below previous resistance. Exactly the scenario I was dismissing...

Thanks cable... Get you another time....
  • #28,519
  • Sep 3, 2007 4:57am Sep 3, 2007 4:57am
Quote
seems like the price will hit 2.0160

there you go

Hello World!
  • #28,520
  • Sep 3, 2007 4:57am Sep 3, 2007 4:57am
dd33: just pm you...
To be or not to be, that's the question
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