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Cable Update (GBPUSD)

  • #34,601
  • Oct 9, 2007 7:02am Oct 9, 2007 7:02am
Quoting bullrock
+300 pips (cumulative) gu short
thats like my boy, I'm honestly glad for ya :-)
Hello World!
  • #34,602
  • Oct 9, 2007 7:02am Oct 9, 2007 7:02am
Quoting Big Wave Rider
WOW that changed fast.
What BWR?
.
  • #34,603
  • Oct 9, 2007 7:04am Oct 9, 2007 7:04am
My analysis remains the same


http://cordobo.com/wp-content/polar-bear.jpg
Just Trade It
  • #34,604
  • Oct 9, 2007 7:05am Oct 9, 2007 7:05am
Quoting bullrock
What BWR?

Ceasernc new avatar changed two different times
Just Trade It
  • #34,605
  • Oct 9, 2007 7:10am Oct 9, 2007 7:10am
Lolll.... I liked that Indian fella...

I TP all cable shorts ... Weekly target is in the pocket already...

M15, H1 are at extreme readings. With the clutch of expected supports below, I'm looking for a price to go long inside of the present channel we're in - 4H.

I'll reassess the market after the FOMC.

On Euro, I got a short that didn't unfold as I expected. I'm looking for short entry in this pair after the FOMC, as I suspect it's coming full of BS, confusing statements and all...

Also, the earnings season kicks in today and bets are to the downside after the subprime woe. Recent disapoiting earnings reports were ignored in the stock market, but who knows. Dow futures +22 as of now...
  • #34,606
  • Oct 9, 2007 7:13am Oct 9, 2007 7:13am
Quoting Big Wave Rider
WOW that changed fast.
LOL... The other smiley was too childish... I was looking for something more aggressive
  • #34,607
  • Oct 9, 2007 7:14am Oct 9, 2007 7:14am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
3 pips of my first target, bet it u-turns and goes long now, still looking for 0265 and 0230.

Kicking bear needs to be your new avatar Cesarnc, then try using raging bull when we hit the bottom or we feel like going long.

won't post image incase it jinks the kicking bear. LOL
  • #34,608
  • Oct 9, 2007 7:27am Oct 9, 2007 7:27am
.
  • #34,609
  • Oct 9, 2007 7:40am Oct 9, 2007 7:40am
Quoting MPP
3 pips of my first target, bet it u-turns and goes long now, still looking for 0265 and 0230.

Kicking bear needs to be your new avatar Cesarnc, then try using raging bull when we hit the bottom or we feel like going long.

won't post image incase it jinks the kicking bear. LOL
Both cable and euro are very bearish yet. But finding buying interest 20 pips below current levels...

There is a chance of cable going down to the 0200 zone, that would be the 50% fib (9878 - 0492). Euro has also the potential of seeing 3920s soon (50% fib area). As both go down, r:r for shorts deteriorates, while for longs improve. I prefer staying out until FOMC for further clue. Also to gauge the market's sentiment on next rate statement.

Bets for another cut have fallen from 85% to 50% already, reason why the dollar appreciated against euro, swiss and cable recently...

So technically we are entering temporary oversold area and fundamentally we are looking for clues...
  • #34,610
  • Oct 9, 2007 7:46am Oct 9, 2007 7:46am
Quoting cesarnc
Both cable and euro are very bearish yet. But finding buying interest 20 pips below current levels...

There is a chance of cable going down to the 0200 zone, that would be the 50% fib (9878 - 0492). Euro has also the potential of seeing 3920s soon (50% fib area). As both go down, r:r for shorts deteriorates, while for longs improve. I prefer staying out until FOMC for further clue. Also to gauge the market's sentiment on next rate statement.

Bets for another cut have fallen from 85% to 50% already, reason why the dollar appreciated against euro, swiss and cable recently...

So technically we are entering temporary oversold area and fundamentally we are looking for clues...
Which means the market could go up....or continue down...or just go sideways for awhile..Hey I'm starting to get it now!...lol so this is the Forex...
  • #34,611
  • Oct 9, 2007 7:49am Oct 9, 2007 7:49am
Quoting cesarnc
Both cable and euro are very bearish yet. But finding buying interest 20 pips below current levels...

There is a chance of cable going down to the 0200 zone, that would be the 50% fib (9878 - 0492). Euro has also the potential of seeing 3920s soon (50% fib area). As both go down, r:r for shorts deteriorates, while for longs improve. I prefer staying out until FOMC for further clue. Also to gauge the market's sentiment on next rate statement.

Bets for another cut have fallen from 85% to 50% already, reason why the dollar appreciated against euro, swiss and cable recently...

So technically we are entering temporary oversold area and fundamentally we are looking for clues...
Look to the U/J for clues as well
Patience + Humility + Study = Success
  • #34,612
  • Oct 9, 2007 7:57am Oct 9, 2007 7:57am
Quoting firemed36
Which means the market could go up....or continue down...or just go sideways for awhile..Hey I'm starting to get it now!...lol so this is the Forex...
The only way the market can't go is to the left.

Those holding shorts from high levels, should risk for more. My strategy was short yesterday's bearish confirmation and now I'm out, in spite of the fact that cable could go down another 80 pips...

Placing my benchmark weekly target on Tuesday trading against the trend is awesome already

Fact is, I'm now looking for a better r:r and cable holding above the previous triangle is bullish in the short term (weeks).
  • #34,613
  • Oct 9, 2007 8:01am Oct 9, 2007 8:01am
Quoting DutchTrader
Look to the U/J for clues as well
Both are correcting this last run up, but yet holding the 23% fib, which is bullish in the immediate term. I'm looking for a price to go long in the carries, too. It will depends on the aftermath of FOMC, imo.

If cable falls some more, 236 GJ might be a price to go in.
  • #34,614
  • Oct 9, 2007 8:04am Oct 9, 2007 8:04am
FOMC meeting
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For he that would be deceived, let him.
  • #34,615
  • Oct 9, 2007 8:07am Oct 9, 2007 8:07am
Quoting pinchapip
FOMC meeting
  • #34,616
  • Oct 9, 2007 8:07am Oct 9, 2007 8:07am
Quoting firemed36
Which means the market could go up....or continue down...or just go sideways for awhile..Hey I'm starting to get it now!...lol so this is the Forex...
That simply means that your prediction as good as when a 4 year old predicts the weather. That simply means that you have to be prepared whatever the situation is and that your strategy/money management should take into consideration that (ie not a predictive but reactive trading is better).
.
  • #34,617
  • Oct 9, 2007 8:08am Oct 9, 2007 8:08am
The market is always right whatever I bubble or BS here about.
.
  • #34,618
  • Oct 9, 2007 8:11am Oct 9, 2007 8:11am
Quoting bullrock
The market is always right whatever I bubble or BS here about.
When are you going to respond to your flip the coin thread?
Still waiting for that project. why not start now in a demo?
Just Trade It
  • #34,619
  • Oct 9, 2007 8:16am Oct 9, 2007 8:16am
Quoting Big Wave Rider
When are you going to respond to your flip the coin thread?
Still waiting for that project. why not start now in a demo?

Maybe we all should try the "flip the coin" in a demo and see how it averages out...
  • #34,620
  • Oct 9, 2007 8:18am Oct 9, 2007 8:18am
hummmmummm

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