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Cable Update (GBPUSD)

  • #34,341
  • Oct 6, 2007 7:48am Oct 6, 2007 7:48am
don't be surprise if this mf drop 200+ pips next week, just because a trend is up doesn't mean the overall trend doesn't take a break. i will wait to see if the overall uptrend is taking a break if it does then im taking a break south with it.
If I Go Broke Trying Then I Will die happy.
  • #34,342
  • Oct 6, 2007 7:49am Oct 6, 2007 7:49am
Quoting Moe
don't be surprise if this mf drop 200+ pips next week, just because a trend is up doesn't mean the overall trend doesn't take a break. i will wait to see if the overall uptrend is taking a break if it does then im taking a break south with it.
Nothing surprises me anymore.. I am always prepared for anything.. its forex.. anything can happen at anytime :-)

Always good to ensure your losses are small if the market moves against your position and ride the trend if it continues.
  • #34,343
  • Oct 6, 2007 7:57am Oct 6, 2007 7:57am
did the uptrend look strong when soros_jr was saying buy when price was around 2.0600 we was sure price was going to 2.1000, but it took a long break south, i do beleive this is where the price wants to go, but england economy is starting to suffer a little. we all should see what happens next week, i can't predict untill my system gives me a clear signal.
If I Go Broke Trying Then I Will die happy.
  • #34,344
  • Oct 6, 2007 8:14am Oct 6, 2007 8:14am
Can you see that... Based on my lines it can reach the second time the previous high, forming a double top and then fall like a stone??
Attached Image (click to enlarge)
Click to Enlarge Name: gu_upward.GIF Size: 142 KB
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  • #34,345
  • Oct 6, 2007 10:50am Oct 6, 2007 10:50am
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?
I'm waiting to see what the PPI shows me on Monday...that could set the trend for the week.....

Yea, 0450 is what I have my eye on also, if some strong numbers for PPI we could see 0500 and beyond. But I will surely wait until I receive my signal, so I know which way we are headed........
  • #34,346
  • Oct 6, 2007 11:02am Oct 6, 2007 11:02am
Quoting Moe
don't be surprise if this mf drop 200+ pips next week, just because a trend is up doesn't mean the overall trend doesn't take a break. i will wait to see if the overall uptrend is taking a break if it does then im taking a break south with it.

The overall trend has been taking a break, for the last two months.
In order for the overall trend to officially be condidered back in play it MUST
make a new high, then you can say we are back into the long term trend.
Failure to make a new high means the long term trend is finished and then we all go on the roller coaster ride down. We have been in a corrective trend for the last two months and either cable is going to make a new high or cable is going south. But I really feel this wondering around trying to figure out which way cable wants to go is over, I feel it will start trending soon. When and in which direction I have no clue but as soon as the charts tell me I will be there to go with it.
Just Trade It
  • #34,347
  • Oct 6, 2007 11:18am Oct 6, 2007 11:18am
Quoting peterM
Nothing surprises me anymore.. I am always prepared for anything.. its forex.. anything can happen at anytime :-)

Always good to ensure your losses are small if the market moves against your position and ride the trend if it continues.
Exactly.

Here's my experience.

During the weekend you plan how (which price/when) you will assess the market next week. Technicals / fundamentals, whetever. This way, you have already planned your losses. Then, you plan what to do in case your preffered scenario doesn't play out and then your week will be about recovering a little, breakeven the week or profit a little.

Can you live with the total loss you might have? Good. Go grab a beer, enjoy your wife, kids, cars, whatever.

Do you have that excruciating need to share your strategy here? Good. Just be aware that you might have your throat cut in the following 3-4 posts. Can you live with that? I can't... I learned the hard way. No I can't. But I don't have that excruciating need anymore.... LOL....
  • #34,348
  • Oct 6, 2007 11:32am Oct 6, 2007 11:32am
Quoting cesarnc
Exactly.

Here's my experience.

During the weekend you plan how (which price/when) you will assess the market next week. Technicals / fundamentals, whetever. This way, you have already planned your losses. Then, you plan what to do in case your preffered scenario doesn't play out and then your week will be about recovering a little, breakeven the week or profit a little.

Can you live with the total loss you might have? Good. Go grab a beer, enjoy your wife, kids, cars, whatever.

Do you have that excruciating need to share your strategy here? Good. Just be aware that you might have your throat cut in the following 3-4 posts. Can you live with that? I can't... I learned the hard way. No I can't. But I don't have that excruciating need anymore.... LOL....


Right on the money.

The weekend is the best time to look at charts and I have always said it and always will. The markets are not moving, no stress to get into a trade since nothings moving. Now you can look at it from diferent perspectives and come up with different scenerios of what might happen next week and how you will trade if one of those scenerious comes true. If it goes up then this is how I will trade. If it goes down this is how I will trade. If it pisses off and go sideways this is how I will NOT trade. Its good to know this information come monday so you are more prepaired than just opening the charts on monday saying WTF is going on here?

Its pretty slow here on the weekends
Just Trade It
  • #34,349
  • Oct 6, 2007 2:00pm Oct 6, 2007 2:00pm
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.


Also Cable continues to trade in the direction of the major indices, especially the Dow, so until that changes the best way is to watch which way they go.

Another record in the Dow on friday so up it must mean.
  • #34,350
  • Oct 6, 2007 2:15pm Oct 6, 2007 2:15pm
$20B worth of subprime pain

Banks have paid dearly for their big bets on mortgage securities. And the toll keeps mounting.

http://money.cnn.com/2007/10/05/news...ion=2007100607
  • #34,351
  • Oct 6, 2007 2:47pm Oct 6, 2007 2:47pm
Quoting cesarnc
$20B worth of subprime pain
Banks have paid dearly for their big bets on mortgage securities. And the toll keeps mounting.

http://money.cnn.com/2007/10/05/news...ion=2007100607


Yep.. it was on bbc news earlier about merryl lynch posting huge losses. I am sure there are many more banks that have yet to post their subprime losses. Many banks, certainly in the UK took on far too much risk and now they are paying the price.
  • #34,352
  • Oct 6, 2007 2:51pm Oct 6, 2007 2:51pm
Quoting Plutonite
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.


I dunno how it works - maybe I have a screw loose or something, or maybe I'm struggling with some gender-identity issues. All I know that I would rather have rusty nails impaled under my fingernails while covered in honey on top of a fire-ant nest in the 120-degree scorching sun than spend 10 minutes trying to find things that fit while being pushed, showed and ran-over by a horde of insane females trying to find things that fit them. It that makes me weird, well, I can live with that... and thank god for Internet and internet shopping!
(or should I say, thank you Al Gore, for inventing the Internet
Cable is my sugardaddy
  • #34,353
  • Oct 6, 2007 3:50pm Oct 6, 2007 3:50pm
Quoting peterM
Yep.. it was on bbc news earlier about merryl lynch posting huge losses. I am sure there are many more banks that have yet to post their subprime losses. Many banks, certainly in the UK took on far too much risk and now they are paying the price.
Those losses reports are not hitting the market anymore. I guess the rumours were bought and now the market is selling the facts...

It's all about Fed's Halloween rate statement from now on. Chips are going to all tables across the board, flocking into the "Cut" spot... It will be another round of buying rumours selling facts. Good deal will be buying dollars on Oct 31st on a no-change.
  • #34,354
  • Oct 6, 2007 4:36pm Oct 6, 2007 4:36pm
Week Ahead: The Bull Wants to Run
Posted By:Patti Domm

http://www.cnbc.com/id/21155795

http://news.nationalgeographic.com/n...nningbulls.jpg
"cesarnc 40 min after last NFP"
  • #34,355
  • Oct 6, 2007 4:56pm Oct 6, 2007 4:56pm
Quoting cesarnc
Week Ahead: The Bull Wants to Run
Posted By:Patti Domm

http://www.cnbc.com/id/21155795

http://news.nationalgeographic.com/n...nningbulls.jpg
"cesarnc 40 min after last NFP"
OUCH! now that does look uncomfortable!
  • #34,356
  • Oct 6, 2007 8:01pm Oct 6, 2007 8:01pm
A Bull horn in the ass is never good.
Just Trade It
  • #34,357
  • Oct 6, 2007 8:06pm Oct 6, 2007 8:06pm
Quoting bohogirl


being pushed, showed and ran-over by a horde of insane females

I could think of worse things
Just Trade It
  • #34,358
  • Oct 6, 2007 8:26pm Oct 6, 2007 8:26pm
Quoting Big Wave Rider
I could think of worse things
True, it could also be the Senior Discount Day, adding mean little ol' ladies into the mix :
Cable is my sugardaddy
  • #34,359
  • Oct 6, 2007 8:49pm Oct 6, 2007 8:49pm
Ok, so I was doing my weekend analysis, and in the middle of it all, my chart spit this out - anyone cares to help me analyze it?

http://img.photobucket.com/albums/v6...rl75/Chart.gif
Cable is my sugardaddy
  • #34,360
  • Oct 6, 2007 11:11pm Oct 6, 2007 11:11pm
Quoting bohogirl
Ok, so I was doing my weekend analysis, and in the middle of it all, my chart spit this out - anyone cares to help me analyze it?

http://img.photobucket.com/albums/v6...rl75/Chart.gif

Is that something you picked up at Old Navy. The yellow triangle a fall fashion item to have for the ladies ?

Looks like the top half of a "Yield" sign.

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