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Cable Update (GBPUSD)

  • #34,261
  • Oct 5, 2007 8:22am Oct 5, 2007 8:22am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Quoting bbmac
Hello new to this thread. Cable found support post nfp at the Dly S1 pivot area 0298close to the 23.6% fib of the move up from 9651 to mondays highs at 0492. More potential support areas to the downside at this week's lows recorded on Thursday at 0278 area through to 0250. Stops below 0240 say MNi, with miinor bids at the 0225/15 area ahead of 0200 area. NFP gains with previous revisions upwards but unemp rate goes up?? go figure lol
This gonna be a long Friday....
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
  • #34,262
  • Oct 5, 2007 8:25am Oct 5, 2007 8:25am
Cable is looking choppy and that means HAPPY HOUR has begun...

Everyone enjoy your weekend.......
  • #34,263
  • Oct 5, 2007 8:26am Oct 5, 2007 8:26am
Quoting MPP
i'd be very supprised if it goes past .0250. to much support , fibs, triangles TL, crazy amount of stuff to pass though to get to .0050.
Agree....
  • #34,264
  • Oct 5, 2007 8:29am Oct 5, 2007 8:29am
Could be , Lol

Todays cable range hi-lo is still only 105pips, well below the 5/10/20day averages and below yesterday's 150pips. More subdued reactions to nfp of late, certainly last 2 mths prior to this. We'll see what the rest of the session brings I guess.
ex member
  • #34,265
  • Oct 5, 2007 8:30am Oct 5, 2007 8:30am
Quoting Shamx77
Yeah... I know it's bullish... unlocked earlier on to take some small profit out of my long position. Now back to square one.... I juz lock it again. Arghhhhhh
I shorted last week at 2.0334 but the Cable shoot up to nearly 2.0500. My bad... I didn't take the loss soon enough. I did hedging instead with long at 2.0485. Ouchhhh I now it was a stupid dump move. I panicked! After that only I learned that hedging is not recommended. Thanks to you all for advising. I appreciate it so much. I never hedging again.

However I am still stuck with my previous positions which are short at 2.0334 and long at 2.0485. Now that the Cable is dropping to my short BE... shall I unlock it now or wait for it to drop some more. Then I can only hope that Cable will bullish again to 2.0500 area to liquidate my long position. What say u guyz?
Made In Malaysia
  • #34,266
  • Oct 5, 2007 8:31am Oct 5, 2007 8:31am
Very technical bs going on now.

high 0402, low 0301.

Traded the 50%, then 38% then 23% now back to 38%. Above 50% again (0352), downside is capped for the day. At 38% indecision. Below 23% again (0325) a new low is next.

In days like this with strong NFP, cable tends to end the day smashed at the day's bottom.
  • #34,267
  • Oct 5, 2007 8:31am Oct 5, 2007 8:31am
DING DING here comes the B.S
Just Trade It
  • #34,268
  • Oct 5, 2007 8:32am Oct 5, 2007 8:32am
Quoting TheCable
Correction til 1.4020/30 zone finished.
hello to all I'm new here,

TheCable,

do you mean the eur/usd start to go long from here?
  • #34,269
  • Oct 5, 2007 8:33am Oct 5, 2007 8:33am
If we get a close below 0319 Friday's candle body will bearishly engul fThursday's candle body...prelude for more $ strength next week or will it be short lived re underlying general fundamentals?
ex member
  • #34,270
  • Oct 5, 2007 8:38am Oct 5, 2007 8:38am
Quoting Big Wave Rider
DING DING here comes the B.S
AND THE GU SHOOTS UP...
As I said when bush bs then gu up...
.
  • #34,271
  • Oct 5, 2007 8:39am Oct 5, 2007 8:39am
Quoting cesarnc
Very technical bs going on now.

high 0402, low 0301.

Traded the 50%, then 38% then 23% now back to 38%. Above 50% again (0352), downside is capped for the day. At 38% indecision. Below 23% again (0325) a new low is next.

In days like this with strong NFP, cable tends to end the day smashed at the day's bottom.
50% fib taken back. Dow Jones is strong, dragging carry trades. Majors/USD's downside are capped. up we go....

Crazy Friday
  • #34,272
  • Oct 5, 2007 8:41am Oct 5, 2007 8:41am
Quoting tsidki
hello to all I'm new here,

TheCable,

do you mean the eur/usd start to go long from here?
it already started - I think we're going to make a new top
  • #34,273
  • Oct 5, 2007 8:43am Oct 5, 2007 8:43am
yeh, up nearly 100 off the immediate post nfp lows now
ex member
  • #34,274
  • Oct 5, 2007 8:43am Oct 5, 2007 8:43am
Quoting TheCable
it already started - I think we're going to make a new top
Both euro and cable have to crack this actual 4H top to trigger a big move up... Otherwise, BS.....
  • #34,275
  • Oct 5, 2007 8:44am Oct 5, 2007 8:44am
Ouch... why ooo why... I juz about to unlock my short position and there it goes... Cable rocketting up. Poor me
Made In Malaysia
  • #34,276
  • Oct 5, 2007 8:46am Oct 5, 2007 8:46am
Quoting TheCable
it already started - I think we're going to make a new top
yes I hope you are wright can you post a chart

regards.
  • #34,277
  • Oct 5, 2007 8:46am Oct 5, 2007 8:46am
Classic "fade the news" stuff
.
  • #34,278
  • Oct 5, 2007 8:47am Oct 5, 2007 8:47am
:surprised:money_mouth_face:
.
  • #34,279
  • Oct 5, 2007 8:49am Oct 5, 2007 8:49am
Quoting cesarnc
Both euro and cable have to crack this actual 4H top to trigger a big move up... Otherwise, BS.....
Done

Bye bye dollar
  • #34,280
  • Oct 5, 2007 8:52am Oct 5, 2007 8:52am
Banging my head to the wall now! Advice to newbies... learn frm my mistakes... just don't do hedging. It's a pain in the #*s. Pain in my pocket too. My equity juz being suck out terribly by the swap that i have to pay. Terrible mistake.
Made In Malaysia
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