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Cable Update (GBPUSD)

  • #2,621
  • Dec 19, 2006 12:52pm Dec 19, 2006 12:52pm
Comparison with 5/30/06


What I think doesn't matter, just looking for similarities to try to understand. That was after memorial day so there is one. It also occurred after a large runup. To me it looks like desperate optimism, or central bank activity. Being that Cable is overlyspeculated on, I'll just assume extreme optimism in the midst of a steep runup in cable. I'll be looking to short from here on out. Of course it is dangerous to go against the larger trend, but a shorter term trend is still down. MM will be key here as always.
Man who scratches ass should not bite fingernails
  • #2,622
  • Dec 19, 2006 12:54pm Dec 19, 2006 12:54pm
picture of the day revisited.. see above...

just gave up trying to understand what's going on....
  • #2,623
  • Dec 19, 2006 12:56pm Dec 19, 2006 12:56pm
I agree with you Leugimp, i was just thinking maybe someone knew of some type of news event that i didn't or something like that. I also plan on shorting after some kind of price movement indicating it downwards. Best of luck.
I dream, therefore I become.
  • #2,624
  • Dec 19, 2006 12:56pm Dec 19, 2006 12:56pm
Quoting Leugimp
Comparison with 5/30/06


What I think doesn't matter, just looking for similarities to try to understand. That was after memorial day so there is one. It also occurred after a large runup. To me it looks like desperate optimism, or central bank activity. Being that Cable is overlyspeculated on, I'll just assume extreme optimism in the midst of a steep runup in cable. I'll be looking to short from here on out. Of course it is dangerous to go against the larger trend, but a shorter term trend is still down. MM will be key here as always.

One more thing, it was also a tuesday.
Man who scratches ass should not bite fingernails
  • #2,625
  • Dec 19, 2006 1:00pm Dec 19, 2006 1:00pm
looks like a year end close just under 1.9320 for the weak, i mean week.
Man who scratches ass should not bite fingernails
  • #2,626
  • Dec 19, 2006 1:03pm Dec 19, 2006 1:03pm
Could be but dont base everything on that similarity, because no matter how similar it is different. Different players and people in the market.
I dream, therefore I become.
  • #2,627
  • Dec 19, 2006 1:20pm Dec 19, 2006 1:20pm
Quoting mike w
Could be but dont base everything on that similarity, because no matter how similar it is different. Different players and people in the market.
Never base everything on a smilarity, it is recognizing the difference that I search.
Man who scratches ass should not bite fingernails
  • #2,628
  • Dec 19, 2006 1:40pm Dec 19, 2006 1:40pm
Quoting Leugimp
Never base everything on a smilarity, it is recognizing the difference that I search.
31 / 08 / 2005 ..

and now?
  • #2,629
  • Dec 19, 2006 1:46pm Dec 19, 2006 1:46pm
I jumped on long from 1.95ish so it's been a wild ride for me. This is my first real money trade so I'm here tottering on the edge of my seat not knowing what to do now. For those who have gone long, where are you guys planning to take profit? In my months of trading demo, I have never rode such a wild price jump. Historically, what usually happens during something like this? Stay Bullish or huge jumps in either directions?
  • #2,630
  • Dec 19, 2006 1:49pm Dec 19, 2006 1:49pm
Whatever you do lamden keep your profit by moving your stop up. Im not going to advise anything though, because im not sure.
I dream, therefore I become.
  • #2,631
  • Dec 19, 2006 1:54pm Dec 19, 2006 1:54pm
thanks, I'll try doing that. This move is crazy. Especially on my first trade.
  • #2,632
  • Dec 19, 2006 1:57pm Dec 19, 2006 1:57pm
definitely do that. Ive been trading for a little while now and i cant begin to tell you how many times i let winning trades go down or turn into losing trades only to hit my initial stop loss because i didnt set it up higher to protect my profits. good luck with your trade.
I dream, therefore I become.
  • #2,633
  • Dec 19, 2006 2:02pm Dec 19, 2006 2:02pm
Quoting baggermatsch
31 / 08 / 2005 ..

and now?
That was a wednesday!
Man who scratches ass should not bite fingernails
  • #2,634
  • Dec 19, 2006 2:14pm Dec 19, 2006 2:14pm
just wondering, any effect base on thailand crazy tuesday?
  • #2,635
  • Dec 19, 2006 2:30pm Dec 19, 2006 2:30pm
I've been watching CNBC all day. They're saying the Thailand's news was not major news. And the PPI news were highest in the decade. Even with this, we didn't see any movement. Been crazy early when we were sleeping and been boring and slow all day, perfect for scaplers tho!
  • #2,636
  • Dec 19, 2006 2:57pm Dec 19, 2006 2:57pm
looks like Fears of inflation failed to generate a dollar rally today http://www.fxstreet.com/news/forex-n...2-3637c9140112
  • #2,637
  • Dec 19, 2006 3:06pm Dec 19, 2006 3:06pm
Perfect Scalp Entered Sunday At The 4pm Open And Closed Out At Aprox. 2pm Today For A Profit Of 180 Pips! I Had To Pull Out Due To The Scare Of A Possible Short Term South Move On This Pair. What Do You All Think About The Next Move On This Pair? I Would Love To Hear Some Input Of What Others Are Thinking.

Happy Trading To All!!!
  • #2,638
  • Dec 19, 2006 3:15pm Dec 19, 2006 3:15pm
Quoting forexnovice
looks like Fears of inflation failed to generate a dollar rally today http://www.fxstreet.com/news/forex-n...2-3637c9140112
I think the "good" dollar news of the past couple of weeks has just been smoke. The U.S. government regularly cooks the books in order to make the numbers "dollar friendly", i.e. Core CPI measures consumer prices- minus food and energy! Can this report really be of any value? Don't we think the big investors see through this?

So when the numbers are initially released the markets typically over-react, ...the big money plays it out (they like to make money, not lose it) but I think the correction follows over the ensuing weeks.

Make sure you read the words in bold above. And see my signature below before acting on anything I say.
Is your SL my TP?
  • #2,639
  • Dec 19, 2006 3:24pm Dec 19, 2006 3:24pm
Quoting kenmania
I think the "good" dollar news of the past couple of weeks has just been smoke.
  • #2,640
  • Dec 19, 2006 4:30pm Dec 19, 2006 4:30pm
Anyone think this sucker is gonna hit 9730 here soon? It appears that it's headed there and it looks like a lot of GBP news is coming out in the AM. I gotta the trading in the early AM today was nuts and I still don't know what to think here.
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
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