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Cable Update (GBPUSD)

  • #28,741
  • Sep 4, 2007 6:13am Sep 4, 2007 6:13am
Quoting lexazver
did you do anyhting with EURCAD pair?
About EURCAD: Overnight range's broken to the downside in the direction of the Hourly chart trend and I am now looking for short opps below 1.4300 if we get the continuation aspect of the breakout.
  • #28,742
  • Sep 4, 2007 6:13am Sep 4, 2007 6:13am
No one is still holding long ha?
  • #28,743
  • Sep 4, 2007 6:15am Sep 4, 2007 6:15am
Quoting haks79
No one is still holding long ha?
I was, but it activated a trailing stop..
  • #28,744
  • Sep 4, 2007 6:18am Sep 4, 2007 6:18am
Quote
Of course we need confirmation here, but this is smelling shit all over the place.

If it smells like shit, if it looks like shit and IF tastes like shit, lolz nvm

then most prolly it is shit



never mind dude, just trying to have a light time, trading can be real stressing so little fun is always good.

US morning is almost there like I'd say, US soil is rising in front of the sun, instead of sun rising, which actually never rises or sets.

So lets see how it goes, fingers crossed...
Hello World!
  • #28,745
  • Sep 4, 2007 6:20am Sep 4, 2007 6:20am
The last hourly close was 2.0129, this figure is below 2.0137, which was the key for going down today, being below this figure gives a sign for further down move
2.0119 is the next key to be reached and broken to help the pair going down, if this happen, so watch out for the break of 2.0094
  • #28,746
  • Sep 4, 2007 6:21am Sep 4, 2007 6:21am
Quoting haks79
No one is still holding long ha?
I have a long trade open @ 2.0148 with no SL yet
  • #28,747
  • Sep 4, 2007 6:26am Sep 4, 2007 6:26am
Opinions on whether the end of the current financial turmoil is in sight were mixed, but analysts agree on the fact that markets will remain volatile in the short term.


"We will get through this, this is not a meltdown … but I think there is a lot of volatility ahead before we get to that happy moment," Nigel Jenkins, senior strategist with Payden & Rygel, told "Worldwide Exchange."

(...)

"There's a lot more under the hood," Richard Suttmeier, chief market strategist at Rightside.com, told "Worldwide Exchange," adding that bad debt may be uncovered in credit cards, auto loans or other type of lending businesses in the U.S. "I've always said that subprime is just the tip of the iceberg."

"Happy moment" or "Tip of the iceberg"?

That's a very hard world we live in
  • #28,748
  • Sep 4, 2007 6:28am Sep 4, 2007 6:28am
Oandas open order statistics , however credible that is, is showing a lot of buy orders close to 2.01-2.011 and this is the level im going to buy if it will be reached that is. In the meanwhile i went short on USDJPY at 115.41, ma target is 115 and stop loss is at 65, i believe if 65 is breached its going to go higher.
  • #28,749
  • Sep 4, 2007 6:29am Sep 4, 2007 6:29am
not convinced the trend will stay down. With what news coming out in the New York session I wouldn't be surprised if it reversed. On the technical side my daily and 4hr trend lines are broke but very ofter it will break the trend line then reverse. Even my one hour is broke, this is why I understand the call for a move down but not convince. I was thinking that it would move to a higher level this week. Either way I have found that the only one that will adjust is me, the market doesn't seem to like to follow anyone very often and like always I follow it.
  • #28,750
  • Sep 4, 2007 6:32am Sep 4, 2007 6:32am
A bounce off 2.0119 and and an hourly close above 2.0137 will delay and might cancel the down move for today
  • #28,751
  • Sep 4, 2007 6:34am Sep 4, 2007 6:34am
ok....lets settle it down...we will be in range again,...after i see coments about 50vs 50, the range is confirmed....see thats the confirmation we all are looking so deeply...:
its just money
  • #28,752
  • Sep 4, 2007 6:39am Sep 4, 2007 6:39am
Quoting pino2
A bounce off 2.0119 and and an hourly close above 2.0137 will delay and might cancel the down move for today
Agree with you , So we have to wait US ISM news and see waht will happen.
  • #28,753
  • Sep 4, 2007 6:42am Sep 4, 2007 6:42am
I just went long @ Market Price (2.0134).
  • #28,754
  • Sep 4, 2007 6:45am Sep 4, 2007 6:45am
Quoting deboooo2005
long @ 2.0132 with tight SL
Thanks God My SL doesn't Hit
  • #28,755
  • Sep 4, 2007 6:46am Sep 4, 2007 6:46am
Quoting iiivb
I just went long @ Market Price (2.0134).
what is ur sl,tp?
its just money
  • #28,756
  • Sep 4, 2007 6:47am Sep 4, 2007 6:47am
Quoting pino2
A bounce off 2.0119 and and an hourly close above 2.0137 will delay and might cancel the down move for today
Why 2.0137 as a key?
If you can't solve a problem, it's because you're playing by the rules.
  • #28,757
  • Sep 4, 2007 6:49am Sep 4, 2007 6:49am
Quoting de123
what is ur sl,tp?
SL: 2.100
TP1: 2.0150
TP2: 2.0250
TP3: 2.0300
TP4: 2.0400

When every TP tarjet gets reached the SL will be manually move to the previous TP.

iiivb
  • #28,758
  • Sep 4, 2007 6:55am Sep 4, 2007 6:55am
Quoting cesarnc

"There's a lot more under the hood," Richard Suttmeier, chief market strategist at Rightside.com, told "Worldwide Exchange," adding that bad debt may be uncovered in credit cards, auto loans or other type of lending businesses in the U.S. "I've always said that subprime is just the tip of the iceberg."

"Happy moment" or "Tip of the iceberg"?

That's a very hard world we live in
Read an article last week on how Auto loans could be next...that would not be good, if auto loans start blowing up, then people can't get to work, which means they can't pay their bills........
  • #28,759
  • Sep 4, 2007 6:57am Sep 4, 2007 6:57am
Quoting deboooo2005
Thanks God My SL doesn't Hit
My SL is 2.0110 ... I'm long @ 2.0132
  • #28,760
  • Sep 4, 2007 6:58am Sep 4, 2007 6:58am
Quoting ainars777
Why 2.0137 as a key?
Everyday day, and also every week, each pair has some keys, 2 of them are the main keys for the day, 2.0137 was one of them, the other key is 2.0220, but this key doesn't do everything, it needs a help from some other factors and prices action, besides the keys of the week
today 2.0137 was broken, this gives a down move
a close below this figure underpin the down move
As I mentioned the week has keys as well, 2.0119 was one of them, it is not one of the main, this figure is lying just below the daily key 2.0137 by almost 18 pips, a bounce off 2.0119 (weekly key) and an hourly close above 2.0137 (main daily key) MIGHT change the bias of the pair for this day, and that's what I'm looking for right now, but since the 2.0137 was broken today, we didn't see any hourly close yet above this figure
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