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Cable Update (GBPUSD)

  • #35,601
  • Oct 16, 2007 6:04am Oct 16, 2007 6:04am
Quoting pinchapip
I don't know if this will comfort you Cesar...but on the Oanda forum people who have been trading for as long as 20 years are being wiped out. We are going through difficult times but the ones who stay alive shall be rewarded !!!!!
Yes, I know...

I can name 3 or 4 environmental changes in this market since I began. The last one is this US rate bias triggered not by economic forces, but by a financial crisis no one knows how bad it is. And never will.

Anyone used to trade euro might be having a hard time, because this pair just didn't put 50-70 pips out of nowhere like these days. Just check the whole see-saws between 4150 and 4200 and you will find my losses. LOL...
  • #35,602
  • Oct 16, 2007 6:04am Oct 16, 2007 6:04am
Hi All'

I am a new trader, A question for pro traders, Can this be BLACK Tuesday for GBP?
  • #35,603
  • Oct 16, 2007 6:06am Oct 16, 2007 6:06am
Just seen the CPI figure.. Certainly hurt cable a lot. Though with these higher oil prices it may push it back over the 2% area in the coming months. Looks to me like mervyn king has done a good job so far in controlling inflation. It only briefly broke 3%. I think there may be some nice long entry opportunities after the dust settles, unless the carry unwinds. Any thoughts?
  • #35,604
  • Oct 16, 2007 6:07am Oct 16, 2007 6:07am
Quoting ukforex
Hi All'

I am a new trader, A question for pro traders, Can this be BLACK Tuesday for GBP?
nooo not that bad.. just a bad day. Black tuesday was in 1992 when soros kicked the BOE in their private parts?
  • #35,605
  • Oct 16, 2007 6:08am Oct 16, 2007 6:08am
meanwhile................................................
Attached Image
For he that would be deceived, let him.
  • #35,606
  • Oct 16, 2007 6:10am Oct 16, 2007 6:10am
Turkey, I feel, has just shot themselves in the foot. EU STATUS DENIED.
Just Trade It
  • #35,607
  • Oct 16, 2007 6:11am Oct 16, 2007 6:11am
Quoting pippenmagic
Hi cesar, i don't know if i'll be able to help you much, but while i was searching the world wide web of forex, i came across 2 systems that work pretty well for the "7am sharks".

the 1st system is by taking the lowest low and the highest high of the previous 1hour candles leading upto 7am. Basically set a short 5 pips below the low and a Long 5 pips above the high.

the 2nd system uses the high and low of the 6am 1HR candle then going down to a 10 min chart and wait for a candle to close outside the previous high/low.

I hope this helps anyone in any way.
Thanks man... I use Frankfurt open price 7am GMT as a pivotal figure to determine the day's direction - among other larger TF indications.

The "London V" (when London reverses the Frankfurt move), is already known here, so I give it a time to see how London is trading this area to make a decision.
  • #35,608
  • Oct 16, 2007 6:12am Oct 16, 2007 6:12am
Quoting peterM
87.99? woah... petrol gonna be expensive!
when I was in Libya a year ago, I can full my car with 2 Libyan Dinars

1 USD = 1.2 Libyan Dinar

it's not expensive there

  • #35,609
  • Oct 16, 2007 6:12am Oct 16, 2007 6:12am
Quoting peterM
Just seen the CPI figure.. Certainly hurt cable a lot. Though with these higher oil prices it may push it back over the 2% area in the coming months. Looks to me like mervyn king has done a good job so far in controlling inflation. It only briefly broke 3%. I think there may be some nice long entry opportunities after the dust settles, unless the carry unwinds. Any thoughts?
Thought... I think cable is cheap now....
.
  • #35,610
  • Oct 16, 2007 6:15am Oct 16, 2007 6:15am
Quoting bullrock
Thought... I think cable is cheap now....
But it might be a lot cheaper later...
.
  • #35,611
  • Oct 16, 2007 6:17am Oct 16, 2007 6:17am
Bears poking another fibo...will it stand ????
For he that would be deceived, let him.
  • #35,612
  • Oct 16, 2007 6:18am Oct 16, 2007 6:18am
i posted this yesterday... if anyone remembers...
i'm watching another long position, it should go somewhere between 2.0450-2.0475 (but more than 2.0437 anyway). IF i see a reversal pattern on h1 around 2.0287 or 2.0268 (however, a break below 2.0246 means this scenario is not gonna work anymore).
then... this would complete the current h4 wave and next one would be down. i mean, really down.
let's see.

Quoting Scrat
well, we will be able to think about wave c when we see where wave b ends. from my point of view, this h1 retracement is not over yet; it just started.
now, since the actual h4 wave is a corrective one, chances are we'll see a rather big correction on h1 - 0.618 to 0.786, so 2.0363 to 2.0286 (yes, that low...). then, to see where wave c would complete... run a fibo between waves a and b... it gives me 2.0455 to 2.0475.

@cesarnc: sorry... can't stop guessing, this range is way too boring. but my charts look nice, don't they?
Nihil Sine Deo.
  • #35,613
  • Oct 16, 2007 6:19am Oct 16, 2007 6:19am
Quoting bullrock
Thought... I think cable is cheap now....

Always Bullish
Always Wrong
Always Bullrock





Although sometimes your right.
no different then the rest of us.
Just Trade It
  • #35,614
  • Oct 16, 2007 6:22am Oct 16, 2007 6:22am
Quoting Big Wave Rider
Always Bullish
Always Wrong
Always Bullrock





Although sometimes your right.
no different then the rest of us.


Hello World!
  • #35,615
  • Oct 16, 2007 6:22am Oct 16, 2007 6:22am
Quoting peterM
Just seen the CPI figure.. Certainly hurt cable a lot. Though with these higher oil prices it may push it back over the 2% area in the coming months. Looks to me like mervyn king has done a good job so far in controlling inflation. It only briefly broke 3%. I think there may be some nice long entry opportunities after the dust settles, unless the carry unwinds. Any thoughts?
A big wound may come tomorrow with the Minutes. All it takes is 2 or 3 votes for a cut.
  • #35,616
  • Oct 16, 2007 6:24am Oct 16, 2007 6:24am
Quoting Big Wave Rider
Always Bullish
Always Wrong
Always Bullrock





Although sometimes your right.
no different then the rest of us.
.
  • #35,617
  • Oct 16, 2007 6:25am Oct 16, 2007 6:25am
The Dow may tank today guys...........carry traders Be Aware !!!!
For he that would be deceived, let him.
  • #35,618
  • Oct 16, 2007 6:31am Oct 16, 2007 6:31am
comedy

BTW retrace on the GJ in progress
Patience + Humility + Study = Success
  • #35,619
  • Oct 16, 2007 6:41am Oct 16, 2007 6:41am
long gu long
.
  • #35,620
  • Oct 16, 2007 6:44am Oct 16, 2007 6:44am
Quoting bullrock
long gu long

What was that? I couldn't hear you very well, Did you say Long gu long?
Just Trade It
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