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Cable Update (GBPUSD)

  • #34,321
  • Oct 5, 2007 3:26pm Oct 5, 2007 3:26pm
Quoting cesarnc
Nice weekend to you all... I have to go out with the wife now.. Guess what SHOPPING!!!...

This is the same as "short cable 1 standard at 0301 today"

I'll be around during the weekend. I like to run possible scenarios during the weekend. THat was what saved my butt this week, after chewing that annoying drawdown in euro...
.
  • #34,322
  • Oct 5, 2007 3:28pm Oct 5, 2007 3:28pm
Quoting cesarnc
Nice weekend to you all... I have to go out with the wife now.. Guess what SHOPPING!!!...

This is the same as "short cable 1 standard at 0301 today"

I'll be around during the weekend. I like to run possible scenarios during the weekend. THat was what saved my butt this week, after chewing that annoying drawdown in euro...
I have to go shopping too, and by myself
I HATE SHOPPING!!!

Everyone, have a wonderful weekend, don't drink too much, and lets make lots and lots and lots of pips next week
Cable is my sugardaddy
  • #34,323
  • Oct 5, 2007 3:29pm Oct 5, 2007 3:29pm
Quoting Big Wave Rider
Not me I was in and out like 7 or 8 times "shoot left, shoot right"
like a drunken cowboy but I came out about 90 pips on top, could of had 120 but made one stupid decision.
A drunk, drugged cowboy...
.
  • #34,324
  • Oct 5, 2007 3:36pm Oct 5, 2007 3:36pm
Quoting bullrock
A drunk, drugged cowboy...

Yeah it was something like that. I was like Billy the Kid clicking the mouse.
Fastest mouse clicker in all the west, er I mean europe.
Just Trade It
  • #34,325
  • Oct 5, 2007 3:37pm Oct 5, 2007 3:37pm
Quoting de123
well said,...so we agree the numbers will be 11.5-12.5b
Were we right, or were we right?

Consumer credit 12.5b, versus 10b exp/7.5 previous (revised to 9.6b).

Now, if we could only be this right in the actual market movers
Cable is my sugardaddy
  • #34,326
  • Oct 5, 2007 4:04pm Oct 5, 2007 4:04pm
Seems dollar gains from the nfp were quickly given back and additional pound strength by the close.. Seems like nothing can stop this trend at the moment..
  • #34,327
  • Oct 5, 2007 5:30pm Oct 5, 2007 5:30pm
Quoting bohogirl
Were we right, or were we right?

Consumer credit 12.5b, versus 10b exp/7.5 previous (revised to 9.6b).

Now, if we could only be this right in the actual market movers
we were right...like usual...:...however nice weekend to all, ...
its just money
  • #34,328
  • Oct 5, 2007 6:05pm Oct 5, 2007 6:05pm
We can see who wheres the trousers in your house
Quoting cesarnc
Nice weekend to you all... I have to go out with the wife now.. Guess what SHOPPING!!!...

This is the same as "short cable 1 standard at 0301 today"

I'll be around during the weekend. I like to run possible scenarios during the weekend. THat was what saved my butt this week, after chewing that annoying drawdown in euro...
  • #34,329
  • Oct 5, 2007 9:17pm Oct 5, 2007 9:17pm
Quoting bullrock
A drunk, drugged cowboy...
BR,

Have you ever observed the trend here ? 70 - 80% people are winners here, apparently, people don't like talking about their losses.

Each time I see a movement in the charts, I can see a dozen guys here saying, oh I won this or that or blah blah, I never see 8 out of 10 people here saying ohh, I lost this, ahh I lost that, lolz

its prolly coz people like to hide when in loss and pop up when in profits.

forums are really crazy, but I'll remain addicted, after all I find decent people like you here and many othere too.

CHOW :-)
Hello World!
  • #34,330
  • Oct 5, 2007 11:32pm Oct 5, 2007 11:32pm
Next week will be bearish.. what do you think? why i said bearish because based on weekly candlestick.

What's your opinion guys?
"Invest With The Insiders, Not The Masses" George Muzea
  • #34,331
  • Oct 5, 2007 11:56pm Oct 5, 2007 11:56pm
Cable is trying to get above the 2.06 mark, but bearish - imo hell no.

Yes I guess it appears to be a hanging man on the weekly chart but I look at it as a consolidation of the move from the previous week. This week's bar had a higher low and that is what I look for. Eventually to have an uptrend there must be higher highs also but higher lows show bears could only push the price down so far.

Next week if we take out yesterdays (thurs) low which was the low for the week then a downtrend could be happening. On the other hand...........
  • #34,332
  • Oct 6, 2007 12:53am Oct 6, 2007 12:53am
Quoting SunTrader
Cable is trying to get above the 2.06 mark, but bearish - imo hell no.

Yes I guess it appears to be a hanging man on the weekly chart but I look at it as a consolidation of the move from the previous week. This week's bar had a higher low and that is what I look for. Eventually to have an uptrend there must be higher highs also but higher lows show bears could only push the price down so far.

Next week if we take out yesterdays (thurs) low which was the low for the week then a downtrend could be happening. On the other hand...........
Ok, if nxt week bullish, high possibility could go up to 2.07 area.
"Invest With The Insiders, Not The Masses" George Muzea
  • #34,333
  • Oct 6, 2007 2:08am Oct 6, 2007 2:08am
Quoting bohogirl
I have to go shopping too, and by myself
I HATE SHOPPING!!!

Everyone, have a wonderful weekend, don't drink too much, and lets make lots and lots and lots of pips next week
You're a girl and you... hate shopping? I'm not sure how that works. It's been a confusing day, but this is somethin else, really.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #34,334
  • Oct 6, 2007 2:12am Oct 6, 2007 2:12am
I have no idea why people are constantly looking for bearish signals and wants the GU to be slaughtered/hammered whatever. This weeks bar has a higher high and a higher low. The close is above the median of the previous bar and though the close is lower than the open my reading is that the week before was very strong bull, this week the bears tried to push it down but the end of the day bulls came back an pushed it up... Next week definitel bullish IMHO and can easily hit the 2.07-2.08 area.
.
  • #34,335
  • Oct 6, 2007 2:14am Oct 6, 2007 2:14am
Quoting cesarnc
Nice weekend to you all... I have to go out with the wife now.. Guess what SHOPPING!!!...

This is the same as "short cable 1 standard at 0301 today"

I'll be around during the weekend. I like to run possible scenarios during the weekend. THat was what saved my butt this week, after chewing that annoying drawdown in euro...
LOL. Thought it would go lower myself, but that's what the banks play against I bet. They know that the reaction to NFP is very simple, so they wait for us to rejoice then *bang* they get in at a lower price to finish some commercial orders/whatever. At least that's how I imagine it. See you next week. Don't take it out on the wife. Chau.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #34,336
  • Oct 6, 2007 7:33am Oct 6, 2007 7:33am
Quoting bullrock
I have no idea why people are constantly looking for bearish signals and wants the GU to be slaughtered/hammered whatever. This weeks bar has a higher high and a higher low. The close is above the median of the previous bar and though the close is lower than the open my reading is that the week before was very strong bull, this week the bears tried to push it down but the end of the day bulls came back an pushed it up... Next week definitel bullish IMHO and can easily hit the 2.07-2.08 area.
Bullrock, it is interesting you say that. I often read here people wanting to trade against the trend, be it hourly, daily whatever, many people seem to want to find the top and bottom of a trend (which is often futile) rather than just buck the trend.

I have read countless posts from people trying to pick the bottom of usd/cad.. and look what has happened over the past few months.. I sold the pair at 1.1650, because oil was around $50 at the time.. I'm still trailing it. I tried to pick the bottoms and tops when i started to start.. and I could not make money at all.. now I just stay humble and go with the trend.
  • #34,337
  • Oct 6, 2007 7:40am Oct 6, 2007 7:40am
Quoting peterM
Bullrock, it is interesting you say that. I often read here people wanting to trade against the trend, be it hourly, daily whatever, many people seem to want to find the top and bottom of a trend (which is often futile) rather than just buck the trend.

I have read countless posts from people trying to pick the bottom of usd/cad.. and look what has happening over the past few months.. I sold the pair at 1.1650, I'm still trailing it. I tried to pick the bottoms and tops when i started to start.. and I could not make money at all.. now I just stay humble and go with the trend.
Cable indeed looks now extremely bullish after the bounce of the triangle level. This is an amazing set up in my opinion. Crack of 0500 is key to fuel further buying interest.

I'm planning, however, to go in right at 0450 as an anticipated entry (nice r:r) adding at the crack of 0500, coz cable use to hover around round levels before cracking. I intend to get there with 50pips cushion already.

Risk is breach of 0350, that should bring lower levels into play. So an entry at 0450 demands SL 100.

Thoughts?
  • #34,338
  • Oct 6, 2007 7:43am Oct 6, 2007 7:43am
Quoting cesarnc
Cable indeed looks now extremely bullish after the bounce of the triangle level. This is an amazing set up in my opinion. Crack of 0500 is key to fuel further buying interest.

I'm planning, however, to go in right at 0450 as an anticipated entry (nice r:r) adding at the crack of 0500, coz cable use to hover around round levels before cracking. I intend to get there with 50pips cushion already.

Risk is breach of 0350, that should bring lower levels into play. So an entry at 0450 demands SL 100.

Thoughts?
yeah.. I agree.. 2.05 could be key resistance.. If it is broken it may go and test 2.0650. I thought friday's NFP might have made the dollar close higher against the pound on friday, but it seems nothing can stop this bull market at the moment. I see a flag pattern for cable on the daily chart.. suggesting after consolidation price may continue it's up trend.. We will see next week.
  • #34,339
  • Oct 6, 2007 7:43am Oct 6, 2007 7:43am
Quoting peterM
Bullrock, it is interesting you say that. I often read here people wanting to trade against the trend, be it hourly, daily whatever, many people seem to want to find the top and bottom of a trend (which is often futile) rather than just buck the trend.

I have read countless posts from people trying to pick the bottom of usd/cad.. and look what has happened over the past few months.. I sold the pair at 1.1650, because oil was around $50 at the time.. I'm still trailing it. I tried to pick the bottoms and tops when i started to start.. and I could not make money at all.. now I just stay humble and go with the trend.
It's important to bear in mind that cable spends 3-4 weeks trending and 8-10 weeks correcting. Being a trade-with-the-trend freak may cost you a chunk. Believe me, been there seen that.

Better be aware of any signs of weakness at the temporary higher levels coz cable goes down fast and furious during corrective periods...

Weakness above 0500 (if such) and I'll short that MF without second thought (sell rallies is usually the most profitable approach during corrective periods)
  • #34,340
  • Oct 6, 2007 7:47am Oct 6, 2007 7:47am
Quoting cesarnc
It's important to bear in mind that cable spends 3-4 weeks trending and 8-10 weeks correcting. Being a trade-with-the-trend freak may cost you a chunk. Believe me, been there seen that.

Better be aware of any signs of weakness at the temporary higher levels coz cable goes down fast and furious during corrective periods...

Weakness above 0500 (if such) and I'll short that MF without second thought (sell rallies is usually the most profitable approach during corrective periods)
oh definitely.. its important to get the right entry.. If you get in when the trend is starting to die.. you are to late and should stay out until a better entry arises.. Best to stay out than get a bad entry.
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