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Cable Update (GBPUSD)

  • #32,461
  • Sep 24, 2007 8:30pm Sep 24, 2007 8:30pm
Quoting soros_junior
major downtrend is in progress... target 1.9665
In the Euro thread we said "1.42 here we go". Here you say 1.9665.

That would give us EURGBP 0.7221 - 233 pips from here x $2/pip easy easy easy $466/mini risk free!!!!!!! YYIEEEEEHHHAAAA!!!!!!!!

Back by london... Just went long full leverage on EG on soros' call... Oh, my granny is going to get so proud of me on what I'm going to do with her retirement fund... Love you granny, I'm taking care of'ya!!!

hmmm, her $50,000 x 400:1 leverage yummmy.....
  • #32,462
  • Sep 24, 2007 8:38pm Sep 24, 2007 8:38pm
Quoting blueruby
What a nice H&S on the 30M 15M.....

Would rather be buying than shorting right now, but will have to take a decisive break below 40.
I guess I should have taken it.

Had a power outage around 8:20, a local squirrel was doing some self-training on becoming an electrician. When power came back on, price was already close to the next resistance level, I didn't like it. Not really "decisive".

OK, wait for the signal to go long now.
  • #32,463
  • Sep 24, 2007 9:14pm Sep 24, 2007 9:14pm
Quoting cesarnc
I still don't know if I want to be around when bullrock sees THIS


Fundi fundi.
  • #32,464
  • Sep 24, 2007 9:22pm Sep 24, 2007 9:22pm
Quoting cesarnc
There are 2 ways to detect a triangle in cable:

1. If you're not lazy

Draw two trendlines - see chart

2. If you are lazy

Read the posts. When people seeing huge spike up start fighting the people seeing huge spike down, there's a triangle.


This MF needs a kick ouf of this triangle, via - yes, sorry to let you down you Big Wave - via a strong market sentiment (fundamental) (gossip, econ data, CB officer, banks melting, whatever)

There are few sellers ouf of this level as the pair is barely above a weekly trendline (poor r:r), dollar not recoverying from its bottom.

There are few buyers out of this level as the pair is suffering from bad news from UK - banks, subprime, weak CPI, lack of new commitment for the end of the month, dollar oversold in the higher timeframes.

And worst of all, UK's data slate this week is non-existent. Unless something really harsh comes from USA we are doomed to stay inside of this triangle for the rest of the week.

AND we are doomed to go on and on and on reading the Bears X Bulls fight here
Well near term we could see that coming, anyone else expecting the range to get smaller?

I have noticed that cable has been very vulnerable to selling as well, it could be due to the credit drama gg around but hey, since dollar index has been capping new lows, the only currency capping a new high against the dollar was Euro.

None other got anywhere near their previous highs. I conclude that the GBP is proly at its weakest time ever, i'd suggest buying euro on sterling rallies and sell sterling during the dollar Index consolidation, infact i'm expecting the USDX to rally for a bit before being raped senseless again, and likely candidate for a good spanking would be the GBP.
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  • #32,465
  • Sep 24, 2007 9:23pm Sep 24, 2007 9:23pm
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Good morning/afternoon/night everyone,

GU - As long as it stays above 2.0000, further down move is limited
EU - Undergoing retracement from yesterday's high 1.4130

"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #32,466
  • Sep 24, 2007 9:25pm Sep 24, 2007 9:25pm
woke up to see fiber shorts up 50 pips..and my cable short that I closed now moved an extra 80+ pip south.lol.. wonderful world of fx..
  • #32,467
  • Edited 11:02pm Sep 24, 2007 9:40pm | Edited 11:02pm
I think that cable is still in downtrend, hasn't reverse yet. Cable may break below its support 2.0116 at London open market.
  • #32,468
  • Sep 24, 2007 9:45pm Sep 24, 2007 9:45pm
Quoting santoso
I think that cable is still in downtrend, hasn't reverse yet. Cable may break its support 2.0123.
yeap... do think so. thing is i closed my cable short like abt 8 hrs ago... lol.. kinda remind me of last week i told bullrock abt UJ short and he closed with a 10pip short... next day moved 100pip south... lol

wooo he'll be crackin when he see cable like this..
  • #32,469
  • Sep 24, 2007 9:59pm Sep 24, 2007 9:59pm
I just hate to see this cable falling, Thank God I locked 100% of my longs, couldn't lock the longs from the peak as I was out n busy at that time, still away from my place.

never expected this thing to fall like this, shit, I hate that !
Hello World!
  • #32,470
  • Sep 24, 2007 10:09pm Sep 24, 2007 10:09pm
Quoting ClockTrader
I just hate to see this cable falling, Thank God I locked 100% of my longs, couldn't lock the longs from the peak as I was out n busy at that time, still away from my place.

never expected this thing to fall like this, shit, I hate that !
Tell me bout that.. I was manage to catch the fall from 269. But since i was goin out i set my SL to BE a bit early. And went back just to see that cable turn around to hit my BE just before resuming south again. That MF is verrryyyy !@#$%^&*
  • #32,471
  • Sep 24, 2007 10:19pm Sep 24, 2007 10:19pm
Quote
And went back just to see that cable turn around to hit my BE just before resuming south again. That MF is verrryyyy !@#$%^&*

Its all about timing dude, right now u think its resuming south, laters u may think same BUT may also be other way, never know. So lets watch and see the trends unfold as future becomes present.
Hello World!
  • #32,472
  • Sep 24, 2007 10:27pm Sep 24, 2007 10:27pm
Quoting ClockTrader
Its all about timing dude, right now u think its resuming south, laters u may think same BUT may also be other way, never know. So lets watch and see the trends unfold as future becomes present.
Err.. actually its present becomes past.. since i was talking bout my yesterday's trade.. :
For now.. im waiting for the bottom to do some fishing..
  • #32,473
  • Sep 24, 2007 10:38pm Sep 24, 2007 10:38pm
Quote
Err.. actually its present becomes past..

ahh, yea, in your context you were, but I tend to focus on future trends turning and getting shape under the present's umbrella.

lets watch the charts anyways.

CHOW
Hello World!
  • #32,474
  • Sep 24, 2007 11:07pm Sep 24, 2007 11:07pm
Quoting ClockTrader
I just hate to see this cable falling
hummmmmmmm......I just love it !!!!!!!!
For he that would be deceived, let him.
  • #32,475
  • Sep 24, 2007 11:15pm Sep 24, 2007 11:15pm
Quote
hummmmmmmm......I just love it !!!!!!!!

Hello World!
  • #32,476
  • Sep 24, 2007 11:26pm Sep 24, 2007 11:26pm
Quoting pinchapip
hummmmmmmm......I just love it !!!!!!!!
Not if u are not on the train..
  • #32,477
  • Sep 25, 2007 12:34am Sep 25, 2007 12:34am
I dont think it's gonna go any lower than 2.0100. I'm going LONG! TP 2.0200
  • #32,478
  • Sep 25, 2007 12:40am Sep 25, 2007 12:40am
Quoting BlindMist
I dont think it's gonna go any lower than 2.0100. I'm going LONG! TP 2.0200
good luck.
"Invest With The Insiders, Not The Masses" George Muzea
  • #32,479
  • Sep 25, 2007 12:44am Sep 25, 2007 12:44am
Quoting Qu|cksilver
good luck.
What's your rationale if you don't mind?
  • #32,480
  • Sep 25, 2007 12:54am Sep 25, 2007 12:54am
Quoting BlindMist
What's your rationale if you don't mind?
I'm not sure. I will wait London open to see the movement but looking at my chart GU & GJ short.
"Invest With The Insiders, Not The Masses" George Muzea
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