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Cable Update (GBPUSD)

  • #31,721
  • Sep 19, 2007 12:44pm Sep 19, 2007 12:44pm
Quoting Luffy
Sorry dude, UBS doesnt allow shorting of gold before buying unless I open a margin account first. Seriously I am not that dumb to short the Dow, I dont follow whatever crap Pretcher says, I make my own counts and I follow my own counts.

Forget it, I dislike public forums already, better to post in the hidden parts where rude people do not exist.
Ok call me rude. But if I called for a reversal across what is it (?) most markets (I don't remember) at least I would back it up. All I asked for is where are these divergences? So that makes me rude, so be it.

You posted your opinion. Well this is a public forum, which means I have can an opinion too. Is that OK with you. Happy hiding.
  • #31,722
  • Sep 19, 2007 12:45pm Sep 19, 2007 12:45pm
Quote
Good... Unforunatelly I haven't got 10K for this but i will use my 2K account as is.... I blew up close to 40K last year and before that year . WHAT A DUMBASS I AM... I knew nothing about money management at that time....

I've done that too with my profits as well as capital, u r not alone in that boat

fortunately, I stand good and recovered at the moment

You'll take it back from the market too if not yet.

anyways, I can bet it was a great day with you and other fella members here, its midnight here, so I'll head for my bed now.

Good Day/Night everyone and wish ya guys loads and loads of pips.

CHOW
Hello World!
  • #31,723
  • Sep 19, 2007 12:49pm Sep 19, 2007 12:49pm
Quoting ClockTrader
I've done that too with my profits as well as capital, u r not alone in that boat

fortunately, I stand good and recovered at the moment

You'll take it back from the market too if not yet.

anyways, I can bet it was a great day with you and other fella members here, its midnight here, so I'll head for my bed now.

Good Day/Night everyone and wish ya guys loads and loads of pips.

CHOW
Chow
.
  • #31,724
  • Sep 19, 2007 1:04pm Sep 19, 2007 1:04pm
Closed JY trade to reduce overnight exposure...
Attached Image
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  • #31,725
  • Sep 19, 2007 2:27pm Sep 19, 2007 2:27pm
According to a lot of experts the pound is heading to 1.96 while EUR and other European currencies are heading north. America may not have hit the bottom yet but the problems over here are mostly already priced in.

USA and the UK are the nations that speculated the most in the sub-prime business.....followed by Australia. But the Brits, because of pride or whatever are dragging their feet to resolve the situation. It points to the idea that maybe America is ahead of the game and may well emerge first from the crisis.

Dollar bears....mid term...beware !!!!!!
For he that would be deceived, let him.
  • #31,726
  • Sep 19, 2007 2:35pm Sep 19, 2007 2:35pm
Quoting SunTrader
Ok call me rude. But if I called for a reversal across what is it (?) most markets (I don't remember) at least I would back it up. All I asked for is where are these divergences? So that makes me rude, so be it.

You posted your opinion. Well this is a public forum, which means I have can an opinion too. Is that OK with you. Happy hiding.
Yeah I am gonna get away from people that has no positive input for my trading. You want divergences? Pull up a daily chart of Euro/Cable and slap on a RSI indicator and use your eyes.

Last word on Gold, the more people that believes that times of uncertainty actually drives the price of gold up the better, cos the fall will be more painful.

All right I'm outta here, not gonna read anymore. Good luck in trading everyone .
Remember to never let someone else make you take trades, they have their beliefs, you have yours, and if they ridicule you just because you disagree with them, then they arent worth to discuss/argue with.
  • #31,727
  • Sep 19, 2007 3:03pm Sep 19, 2007 3:03pm
Another point is that the cable chart seems to have begun "divorcing" itself from the Dow chart and going in the opposite direction.

Since the cable became the carry trade for the more orthodox (risk averse) traders, good news for the Dow was bearish for the dollar. Now the Sterling lost a lot of its appeal. People are starting to realize that the UK is not in the same level as the European community. Till this sub-prime mess is sorted out the UK, and its exposure to it, will be dragged down in suspicion.
For he that would be deceived, let him.
  • #31,728
  • Sep 19, 2007 3:24pm Sep 19, 2007 3:24pm
Quoting pinchapip
Another point is that the cable chart seems to have begun "divorcing" itself from the Dow chart and going in the opposite direction.
Cable seems to have begun divorcing from sanity...

As a matter of fact, looks like a good short right now to me. Lately, this means strong move up :
  • #31,729
  • Sep 19, 2007 3:29pm Sep 19, 2007 3:29pm
Quoting cesarnc
Cable seems to have begun divorcing from sanity...

As a matter of fact, looks like a good short right now to me. Lately, this means strong move up :
cesarnc, i have to strongly agree. my 4 hr charts are starting to roll over short now. we could see a repeat of the past week starting tomorrow into next week. maybe uk retail sales tomorrow will seal the deal. another 300 pips would be nice!
  • #31,730
  • Sep 19, 2007 3:34pm Sep 19, 2007 3:34pm
Quoting coolhand
cesarnc, i have to strongly agree. my 4 hr charts are starting to roll over short now. we could see a repeat of the past week starting tomorrow into next week. maybe uk retail sales tomorrow will seal the deal. another 300 pips would be nice!
Yesterday cable ticked 5 pips above monthly open, but today melted down below weekly open.

But the lack of dollar move today made it difficult to understand how the dollar bias is going to weigh on cable...

I think the best trade for tomorrow would be short on bad retail confirmed, then out if dollar starts going to the drain (Bernanke at 10am EST, the catalyst?).

Or staying out, that is likely to be my first choice unless retail comes with strong deviation.

No trades taken today in cable... It didn't move fast after the Minutes so I underestimated the downside potential, as it was 80 pips off the highs by then...
  • #31,731
  • Sep 19, 2007 4:14pm Sep 19, 2007 4:14pm
Quoting cesarnc
Cable seems to have begun divorcing from sanity
hehehheheh well....meu brodi, people say that if you can trade the cable you can trade ANYTHING !!!!

Thats why I started trading it, I see it like my FUVEST or whatever they call it now. After I master it, all will be fine.
For he that would be deceived, let him.
  • #31,732
  • Sep 19, 2007 4:19pm Sep 19, 2007 4:19pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
I'm lost with cable these days, keeps taking my pips. MM save my life.

the problem i'm having is it's bouncing all over my TL above and below.
  • #31,733
  • Sep 19, 2007 4:36pm Sep 19, 2007 4:36pm
Quoting pinchapip
hehehheheh well....meu brodi, people say that if you can trade the cable you can trade ANYTHING !!!!

Thats why I started trading it, I see it like my FUVEST or whatever they call it now. After I master it, all will be fine.
But this cable ENCHE O MEU SACO with those damn whippy sessions LOL....

Euro was the one who earned my respect for good, during the August panic. Traded "by the rules" (supports, fibos, etc...) while cable looked like a monkey carrying a loaded revolver....
  • #31,734
  • Sep 19, 2007 4:56pm Sep 19, 2007 4:56pm
Quoting cesarnc
But this cable ENCHE O MEU SACO with those damn whippy sessions LOL....

Euro was the one who earned my respect for good, during the August panic. Traded "by the rules" (supports, fibos, etc...) while cable looked like a monkey carrying a loaded revolver....
The EURO will see its fate also. Just wait until Europe starts to face problems. Their union hasn't had a big test yet. I used to live there and I saw and heard a lot of things..the French and the Germans hate each other, Portugal mocks Spain all the time, The Italians think they are the best and bash everybody else. Too keep something like that united is not an easy task and I'm not even talking about cultural and language challenges they have. Big countries like USA, Brazil, Canada, China, etc are better positioned because despite their own problems their union have a stronger base.
For he that would be deceived, let him.
  • #31,735
  • Sep 19, 2007 5:06pm Sep 19, 2007 5:06pm
Cramer

http://www.cnbc.com/id/20870620

"shorts scamble to buy...."
  • #31,736
  • Sep 19, 2007 5:10pm Sep 19, 2007 5:10pm
Cable almost broke the uptrend line down at h4 chart. If it breaks more, I will open the short position. Because the resistance 2.0027 till 2.0045, I put my stop loss above the resistance. Target may be 1.9950 or second target 1.9877 or third target 1.9784.
  • #31,737
  • Sep 19, 2007 5:10pm Sep 19, 2007 5:10pm
Quoting pinchapip
The EURO will see its fate also. Just wait until Europe starts to face problems. Their union hasn't had a big test yet. I used to live there and I saw and heard a lot of things..the French and the Germans hate each other, Portugal mocks Spain all the time, The Italians think they are the best and bash everybody else. Too keep something like that united is not an easy task and I'm not even talking about cultural and language challenges they have. Big countries like USA, Brazil, Canada, China, etc are better positioned because despite their own problems their union have a stronger base.
This must be a different Europe ... maybe I am living in the wrong one. Please be assured that French and Germans do not hate each other. Italians are very friendly folks if you get to know them and on the Iberian Penninsula they have never had problems that were in any way severe.
The Eurorean Union, started in the 1950's, has seen crisis after crisis and is still alive. Former Eastern Block countries (that will be New Europe in terms of Donald Rumsfeld, formerly of Bremen, Germany) are eager to join and are receiving quite a lot of benefits that "Old Europe" is able and willing to pay for.
The Euro may not be the best invention of the universe, but it seems to work. Cesarnc actually only hinted on the EURUSD-pair to "stick to the rules" and behaving more as usual during times of market hubbub. I guess he did not call for some political context.

Good night to you all
Gnat

European ... and getting older
  • #31,738
  • Sep 19, 2007 5:11pm Sep 19, 2007 5:11pm
Quoting pinchapip
The EURO will see its fate also. Just wait until Europe starts to face problems. Their union hasn't had a big test yet. I used to live there and I saw and heard a lot of things..the French and the Germans hate each other, Portugal mocks Spain all the time, The Italians think they are the best and bash everybody else. Too keep something like that united is not an easy task and I'm not even talking about cultural and language challenges they have. Big countries like USA, Brazil, Canada, China, etc are better positioned because despite their own problems their union have a stronger base.
Is this what passes for "analysis"
Patience + Humility + Study = Success
  • #31,739
  • Sep 19, 2007 5:12pm Sep 19, 2007 5:12pm
Quoting DutchTrader
Is this what passes for "analysis"
Definitely shorter and more to the point than me.
  • #31,740
  • Sep 19, 2007 5:16pm Sep 19, 2007 5:16pm
Quoting Luffy
Yeah I am gonna get away from people that has no positive input for my trading. You want divergences? Pull up a daily chart of Euro/Cable and slap on a RSI indicator and use your eyes.

Last word on Gold, the more people that believes that times of uncertainty actually drives the price of gold up the better, cos the fall will be more painful.

All right I'm outta here, not gonna read anymore. Good luck in trading everyone .
Remember to never let someone else make you take trades, they have their beliefs, you have yours, and if they ridicule you just because you disagree with them, then they arent worth to discuss/argue with.
You just can't leave good enough alone, huh?

I am rude and negative by asking you to back up your statment that there are divergences. Where, who knows, based on what ??? Oh so now it is RSI on a daily chart. Hmmmm. Let see. If you are talking about default setting of 14 on EURUSD daily, my chart shows not much case for divergence and on GBPUSD (you knows this thread) no divergence at all. IMO still think meaningless.

BTW I do see a reversal for the markets coming shortly. But why wait for a reversal when trends lasts longer than corrections. Also I think gold will get to $800 and possible $900 before it goes back to $500. Notice I said think, not should. Because who knows anything beyond the short term.

But wow when I did a search to remember what I posted previously I was amazed at some of the things you posted yesterday. Now I see why you are going back to the james16 thread. Cya.
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