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Cable Update (GBPUSD)

  • #31,021
  • Sep 17, 2007 3:31pm Sep 17, 2007 3:31pm
Quoting pino2
In order for cable to reach 2.0400 this week or week after, it must first break 2.0042 and even below 2.0000, which we might even reach the early 1.99's levels, that's my thoughts, I still have short and long trades running, both are on fire, if after the drop we reached 2.0235, then this is the visa for 400 and above, IMO
Everything is going as I predicted, that cable will fall to the early levels of the 1.99's, my longs and shorts are still running, shorts from 220 level, I also added more shorts in 2.005's area, my unrealised profit for short trades now exceeding 1500 pips, I closed 3 of my longs with -500 loss, I only have 1 long trade open in the 230 area, and 8 short in different levels, and I'm now confused what to do next, the good thing is that I managed my longs in a right way
  • #31,022
  • Sep 17, 2007 3:32pm Sep 17, 2007 3:32pm
Greenspan on CNBC today.

9pm EST

http://www.cnbc.com/id/20583053/site/14081545/

P.S. Loved the vodka idea... Just a quick adaptation and Mr. Walker is going to sleep upside down today..
  • #31,023
  • Sep 17, 2007 3:38pm Sep 17, 2007 3:38pm
I hope you guys understand how I'm using the term here....I am "pornographically" leveraged !!!!!!!!!!!!

If I'm wrong....oh boy ho boy !!!!!!
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For he that would be deceived, let him.
  • #31,024
  • Sep 17, 2007 3:48pm Sep 17, 2007 3:48pm
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  • #31,025
  • Sep 17, 2007 3:53pm Sep 17, 2007 3:53pm
Quoting cesarnc
Hey man...this beggar is COPYRIGHTED....HEHHEHEHEHH !!!!!!!
For he that would be deceived, let him.
  • #31,026
  • Sep 17, 2007 3:54pm Sep 17, 2007 3:54pm
I closed all my shorts with 1500+ pips, longs -500 pips, so I made 1000+ pips, better not to be greedy, will check what to do next
  • #31,027
  • Sep 17, 2007 4:04pm Sep 17, 2007 4:04pm
Quoting pinchapip
Hey man...this beggar is COPYRIGHTED....HEHHEHEHEHH !!!!!!!
Yeah. I found his PET!


OK. enough.. I'm going off. Hurricanes are gonna look like farts compared to the market tomorrow... Cya later...
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  • #31,028
  • Sep 17, 2007 4:13pm Sep 17, 2007 4:13pm
Quoting cesarnc
HOLY SHHH#$$@#$@!!!!!!

I didn't notice UK CPI is tomora....

So UK CPI + Fed rate statement?
lol i told you this last week on page 1988

How is your memory?

That amazing picture i posted is getting you numb.
  • #31,029
  • Sep 17, 2007 4:26pm Sep 17, 2007 4:26pm
Quoting Warper
lol i told you this last week on page 1988

How is your memory?

That amazing picture i posted is getting you numb.
Yes... she keeps whispering at my ears "Trade Fed's cesar, but trade it good... trade it hard.... do it... TRADE IT!"

Who cares about CPI ?
  • #31,030
  • Edited 4:43pm Sep 17, 2007 4:31pm | Edited 4:43pm
cable may retrace to 1.9958 till 1.9974 (more possible) or 2.0026 (less possible) and later it may drop to weekly down trend channel about 1.9800 as the weekly chart Cesarnc posted # 31020 or 31017 (page 2068) in here before.

At the weekly chart cable may form the head and shoulder pattern down. (may be dropped to 1.8800). Right shoulder pattern will be completed.
  • #31,031
  • Sep 17, 2007 4:35pm Sep 17, 2007 4:35pm
Quoting pinchapip
Iran scorns French warning of war


Beware EUR or GBP traders !!!! If France decides to copy-cat America and go mess with the Arabs it could send the EUR, GBP and any other European currency to hell.

They don't have half the money or military power to mess with this kind of thing. Apart from all the expenses a war brings, just think about the massive terrorist attacks Europe would have to endure. Can you picture a scenario like that ?!?! Dollar and yen to the stratosphere.
France?
War?



will Italians be providing military support?


(Before anyone jumps at me, I mean no offense - I'm part French and spent the first 13 years of my life in France, and part Italian, albeit only vacationing there)
Cable is my sugardaddy
  • #31,032
  • Sep 17, 2007 4:38pm Sep 17, 2007 4:38pm
Quoting cesarnc
Who cares about CPI?
I will not trade it but i care. I don't want to GU reverse right now lol, i want to buy where i was stopped out because i have already the targets (lazy me ). I just want a few dozens of pips, and then... cable might drop to hell.

Quoting santoso
cable may retrace to 1.9958 (more possible) or 2.0026 (less possible) and later it may drop to weekly down trend channel about 1.9800 as the weekly chart posted in here before.
Weekly downtrend?

The year is 2007, check your chart.
  • #31,033
  • Sep 17, 2007 4:39pm Sep 17, 2007 4:39pm
I opened a new short @ 1.9944 with cautious
  • #31,034
  • Sep 17, 2007 4:41pm Sep 17, 2007 4:41pm
Quoting cesarnc
I feel sorry for you guys:

Sept. 17 (Bloomberg) -- Coffee rose in New York to the highest price since December on speculation dryness in the main growing areas in Brazil, the world's biggest producer, may hinder the flowering process for the crop to be picked in 2008.

Trading tomorrow without a good hit of cafein will be devastating... I'm just praying for tobacco not to spike 'til then
Noooooooooo!!!
I'm already paying $12.99 per pound, and $5 a pack.
Pretty soon my coffee and cigs habit will cost more than my sky-high mortgage
Cable is my sugardaddy
  • #31,035
  • Sep 17, 2007 4:44pm Sep 17, 2007 4:44pm
Quoting bohogirl
France?
War?



will Italians be providing military support?
Lets face it... its impossible to a french person scare anyone with their talk.


"Je vais manger un croissant. Oui?"

Common...
  • #31,036
  • Sep 17, 2007 4:46pm Sep 17, 2007 4:46pm
Quoting bohogirl
Noooooooooo!!!
I'm already paying $12.99 per pound, and $5 a pack.
Pretty soon my coffee and cigs habit will cost more than my sky-high mortgage

This is turning out to be quite a year, OIL record high, GOLD record high ( almost, may go higher) , EURO, POUND,CAD,YEN crosses trading at record levels, subprime crisis, bank run, foot and mouth, record temperatures around the world, wettest summer in UKs history ( or close), pavaroti died.

I guess big a$$ meteor is next...

EDIT : overpopulation is to blame (what i think anyway)
  • #31,037
  • Sep 17, 2007 4:47pm Sep 17, 2007 4:47pm
Quoting bohogirl
Noooooooooo!!!
I'm already paying $12.99 per pound, and $5 a pack.
Pretty soon my coffee and cigs habit will cost more than my sky-high mortgage
LOL! I only drink columbian coffee so I guess I'm safe?
  • #31,038
  • Edited 5:11pm Sep 17, 2007 4:48pm | Edited 5:11pm
Quoting Warper

Weekly downtrend?

The year is 2007, check your chart.
the old weekly chart lower channel are still the same as the current weekly chart lower channel.
I updated my post #31052. It may be the head and shoulder chart pattern on weekly chart.

Warper, you are correct. Typo, sorry.
  • #31,039
  • Sep 17, 2007 4:50pm Sep 17, 2007 4:50pm
Quoting coolhand
LOL! I beleive the BOE is in a similar situation as the Fed. With the mortgage banking problems in both the US and UK, they may have no choice but to start to cut rates regardless of inflation pressures.
I was thinking about this, and can't wrap my mind around a 'what if' thing:

Say, theoretically, all things fall apart in the US and UK (as in, what's happening now is just the beginning of greater crisis).
That would weaken US and GBP against other currencies, logically.
But what would that do to our cable?
In other words, if, by some chance, both currencies tanked globally, and were pretty much worthless, would the exchange rate between the two still remain somewhat the same, affected by which one is less worthless?
And if so, would that even make any difference to us as traders? (I mean, if we were trading a generally worthless pair, would the value of pips remain the same or go down?)

Maybe I should stop thinking and go back to bed - feeling a little under the weather today, and all this thinking is hurting my little brain.
Cable is my sugardaddy
  • #31,040
  • Sep 17, 2007 4:53pm Sep 17, 2007 4:53pm

I got this in my e-mail thought it was interesting.

Top 10 Investment Stories In the Currency Market this Week
This week we are going to start something new for our weekly piece. Instead of my ruminations on trading we will try to bring to you the best, most thought provoking investment stories of the week. Hope you like it.
Top 10 Investment Stories In the Currency Market this Week

1. Glass half full or half empty? Retail Sales were soft, but not so horrid as to suggest contraction. Bottom line? No more than 25bp cut from the Fed, the US economy muddles through for the time being.

2. No need to panic unless China crashes. While the Dow has been struggling Shanghai has been setting record highs. With 1 Trillion in reserves China now acts as the “bid” in US credit markets, but capital markets but Tony Jackson worries that the party is about to end.

3. Is this the bottom in equities? The state of the Dow now drives all other financial markets and may determine the difference between an economic slowdown versus a full blow recession. WSJ has an interesting article about the volatility that precedes prior market bottoms.

4. Borrowing short and lending long is the sure fire formula for banker's bankruptcy. Unfortunately that's what many of the money center banks have been doing through their off balance sheet Special Investment Vehicles. Mish explores the issue in detail

5. Meanwhile Housing continues to be a slow motion car wreck. After CFC announced that is was laying off 12,000 employees last week Wamu just chimed in that it will take more than $2 Billion write down on sub-rime loans.

6. The next shoe to drop? LBO financing. Remember investment banks hold more than $400 Billion worth of loans that they guaranteed to private equity shops. The stuff is not moving and today comes news that KKR which has been playing hardball with Wall Street up to now, finally blinked.

7. Despite the woes, someone smells a bargain. UK billionaire Joseph Lewis just took a very significant chunk of Bear Stearns - the epicenter of the sub-prime mess on Wall Street.

8. Who is going to buy our debt? Bloomberg worries that China is paring down its position in Treasuries.

9. But Brad Setser thinks that is much ado about nothing, arguing that China basically shifted from Treasuries to Agencies.

10. Finally - best trade during the Great Depression? Gold. Check out the meteoric rise of Homestake Mining while everything else was liquidated for pennies.

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