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Cable Update (GBPUSD)

  • #2,801
  • Dec 20, 2006 10:06pm Dec 20, 2006 10:06pm
Well, my system told me so.anyho the price already near the fib 50% so if the price break down..it will be another pips



Quoting yulvme
Any reason why you shorted your position? I'm open to any comments
  • #2,802
  • Dec 20, 2006 10:08pm Dec 20, 2006 10:08pm
i just saw your post!!! very funny!!! it is winter here so the bear is hibernating!!! i think this market will be flat except for a few moves with a few certain numbers coming out until the new year. unless the big traders are going to be hung over with their bonuses for christmas, we won't see another thanksgiving movement. i was very unhappy that i missed that one!!! i really just want to find out which way this thing is going so i can clip a good 50 to 100 pips a day for awhile, even if i have to make 10 trades a day. i am new to live trading, and i have a coach through the software i use, but sometimes the terms they use hear hurt my brain!! if we could get everyone together on this, we could all make money by moving the market ourselves by ganging up on it. might be a good idea to get back at the major players. i don't want one grand slam, i want a single every time. not greedy, just want 2 slices of the pie, they can have the rest!! any good strategies other than patience?? what triggers to look for for a quick 20 pip score??
  • #2,803
  • Edited 10:39pm Dec 20, 2006 10:29pm | Edited 10:39pm
Quoting monarch
Looking at this weeks formation, it looks to be doing the same thing we seen during last weeks formation.
Monarch
Yeah I agree, since that's what I said earlier on Wednesday (see posts #2772 and 2773). Today we saw a bounce pretty much where it bounced last week. Probably will climb to a similar level as last week (1.9713) before reversing again but this time breaking below the 23 fib just as it did on December 14.

So I'm going long to 9713 then short to 9600 or less (perhaps US news will be the catalyst?)
  • #2,804
  • Dec 20, 2006 11:03pm Dec 20, 2006 11:03pm
Let's talk about tomorrow.
Some thoughts from Felix who does news trading

1. Thursday, December 21st, 2006 (4:30 am New York Time) UK
We have two important reports coming out of the UK. We have GDP & Current Account coming out. Both are capable of moving GBP/USD by 30 to 50 pips. What happens if they conflict? The whipsaw massacre happens. Then you say, why not wait for both of them, and only trade if they don't conflict? Well...imagine one of these reports gets released 2 seconds faster than the other, and the first one already moved the market by 30-40 pips, and you see that the 2nd one doesn't conflict, and you enter at the top or bottom of the maxed out move...no good. GDP is a little bit bigger caliber report, but a very steady one with minimal deviations. Current account is a bit smaller caliber, but the deviations can be crazy. What I will do is look for a shock on the GDP number, a shock so strong, that it will make the current account look irrelevant. So GDP is expected to come out at 0.7%. If it comes out at 0.9% or higher, I may possibly go long on GBP/USD. If it comes out at 0.5% or less, I may possibly go short on GBP/USD. But the chances of such deviations are slim to none.

2. Thursday, December 21st, 2006 (8:30 am New York Time) USA
We have 4 different reports coming out. Another freaking waste of golden opportunities by slamming all these reports into release all at the same time. We have core retail sales coming out of Canada, which can move USD/CAD by as much as 50 pips or more. We have Canadian GDP coming out, which can also move USD/CAD by as much as 50 pips or more. We also have U.S. GDP coming out, which can move GBP/USD by 50 pips or more. We also have quarterly PCE coming out, which is important, but usually very steady, with very few deviations and surprises. I am going to have to ignore the golden Canadian reports, because of potential unpleasant conflict. I will focus on U.S. GDP, which is expected at 2.2%. If it comes out at 2.4% or higher, I may possibly go short on GBP/USD. If it comes out at 2.0% or lower, I may possibly go long on GBP/USD. PCE Core is expected at 2.2%, if it conflicts by at least 0.2%, I will exit my positions immediately.

3. Thursday, December 21st, 2006 (12:00 pm New York Time) USA
We have Philly Fed Index coming out of the U.S. It's expected that the number will come out at 4.0. If the number comes out at 15 or higher, I may possibly go short on GBP/USD. If the number comes out at -5 or more negative, I may possibly go long on GBP/USD. If my triggers are hit, I expect GBP/USD to move by at least 25 to 35 pips...
  • #2,805
  • Dec 20, 2006 11:34pm Dec 20, 2006 11:34pm
Quoting goodthings
Let's talk about tomorrow.
Some thoughts from Felix who does news trading

1. Thursday, December 21st, 2006 (4:30 am New York Time) UK
We have two important reports coming out of the UK. We have GDP & Current Account coming out. Both are capable of moving GBP/USD by 30 to 50 pips.
......
GDP is expected to come out at 0.7%. If it comes out at 0.9% or higher, I may possibly go long on GBP/USD. If it comes out at 0.5% or less, I may possibly go short on GBP/USD. But the chances of such deviations are slim to none.
Some thoughts from Oscar (Felix' lifelong, unkempt roommate):
Felix says such deviants are slim to none, so that won't happen. Just straddle this baby.

Quoting goodthings
2. Thursday, December 21st, 2006 (8:30 am New York Time) USA
We have 4 different reports coming out. Another freaking waste of golden opportunities by slamming all these reports into release all at the same time. We have core retail sales coming out of Canada, which can move USD/CAD by as much as 50 pips or more. We have Canadian GDP coming out, which can also move USD/CAD by as much as 50 pips or more.
Felix wants to ignore our golden northern buddies but Oscar says trade your little heart out for Old Canada!!

Quoting goodthings

We also have U.S. GDP coming out, which can move GBP/USD by 50 pips or more. ..... I will focus on U.S. GDP, which is expected at 2.2%. If it comes out at 2.4% or higher, I may possibly go short on GBP/USD. If it comes out at 2.0% or lower, I may possibly go long on GBP/USD. PCE Core is expected at 2.2%, if it conflicts by at least 0.2%, I will exit my positions immediately.
Possibly too much for Oscar to digest...NOT!!; suffice it to say stick with the loonies!! And toss a lot or two to the GDP but watch the GAP!!

Disclaimer:

The opinions expressed in this post are purely those of the persons referenced and do not reflect the professional perspectives of the relative authors. Any resemblance to persons living or dead is purely coincidental. Forex trading is inherently risky and not recommended for traders with "mad money", allowances or liquidity below $1m.
  • #2,806
  • Dec 21, 2006 12:18am Dec 21, 2006 12:18am
Buy 1.9625 - TP 1.9720 - SL 1.9600
Sell 1.9585 - TP 1.9530 - SL 1.9600

hmm how about this? hmm just out of my short with just 10 pips.the cable still bear in a big picture to me but today there is a possibility of long the cable.so for now i'll just wait the price come to my plan.just a though.

Quoting MoneyMa$ter
Yeah I agree, since that's what I said earlier on Wednesday (see posts #2772 and 2773). Today we saw a bounce pretty much where it bounced last week. Probably will climb to a similar level as last week (1.9713) before reversing again but this time breaking below the 23 fib just as it did on December 14.

So I'm going long to 9713 then short to 9600 or less (perhaps US news will be the catalyst?)
  • #2,807
  • Dec 21, 2006 12:34am Dec 21, 2006 12:34am
It's looking like the cable wants to go up here. My MA indicators have crossed, as well as my RSI. Lets see if Europe and London can push this sucker up when they open up!
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #2,808
  • Dec 21, 2006 12:36am Dec 21, 2006 12:36am
"Disclaimer:

The opinions expressed in this post are purely those of the persons referenced and do not reflect the professional perspectives of the relative authors. Any resemblance to persons living or dead is purely coincidental. Forex trading is inherently risky and not recommended for traders with "mad money", allowances or liquidity below $1m. "

That's a pretty funny disclamer "mad money". Almost as funny as calling Felix a good trader.
  • #2,809
  • Dec 21, 2006 1:52am Dec 21, 2006 1:52am
OUT over night with only 14 Pips profit - but strictly "no loose system"

new day - new way
  • #2,810
  • Dec 21, 2006 1:57am Dec 21, 2006 1:57am
Does anyone know why the news from UK GDP 9.30 GMT and the news from USD (GDP) been coded yellow on the calender- I thought ther would both move the market
mama
  • #2,811
  • Dec 21, 2006 1:59am Dec 21, 2006 1:59am
Quoting Mama007
Does anyone know why the news from UK GDP 9.30 GMT and the news from USD (GDP) been coded yellow on the calender- I thought ther would both move the market
Those are the "final" GDP numbers... Basically the data for them is already out. The GDP that moves the market is the Forward GDP or Estimate GDP.
  • #2,812
  • Dec 21, 2006 2:28am Dec 21, 2006 2:28am
For Your Review
Attached Image
  • #2,813
  • Dec 21, 2006 2:32am Dec 21, 2006 2:32am
is trying to push up?
mama
  • #2,814
  • Dec 21, 2006 2:37am Dec 21, 2006 2:37am
I'm all patience here, buddy... and will ride pip per pip today... no more "trade the trend" during this month... Market went nuts :

Quoting mtrmth
i just saw your post!!! very funny!!! it is winter here so the bear is hibernating!!! i think this market will be flat except for a few moves with a few certain numbers coming out until the new year. unless the big traders are going to be hung over with their bonuses for christmas, we won't see another thanksgiving movement. i was very unhappy that i missed that one!!! i really just want to find out which way this thing is going so i can clip a good 50 to 100 pips a day for awhile, even if i have to make 10 trades a day. i am new to live trading, and i have a coach through the software i use, but sometimes the terms they use hear hurt my brain!! if we could get everyone together on this, we could all make money by moving the market ourselves by ganging up on it. might be a good idea to get back at the major players. i don't want one grand slam, i want a single every time. not greedy, just want 2 slices of the pie, they can have the rest!! any good strategies other than patience?? what triggers to look for for a quick 20 pip score??
  • #2,815
  • Dec 21, 2006 3:53am Dec 21, 2006 3:53am
ideas?
  • #2,816
  • Dec 21, 2006 3:56am Dec 21, 2006 3:56am
what happen on the news. I am partial because I am long so I say if the news was negative and the pound has recovered (still waiting) then it should be pound strength.
  • #2,817
  • Dec 21, 2006 3:59am Dec 21, 2006 3:59am
a new shift (work force) must of just come on for the gbp traders.
  • #2,818
  • Dec 21, 2006 4:00am Dec 21, 2006 4:00am
Starting to get SHORT signals that actually agree with one another.
Show me the PIPS!
  • #2,819
  • Dec 21, 2006 4:00am Dec 21, 2006 4:00am
Cable 1 hour chart - dark coloud cover - are we looking at 1.9570. any views?
  • #2,820
  • Dec 21, 2006 4:02am Dec 21, 2006 4:02am
I agree Benakavasu. Looks like SHORT position in place with 1.9570 in sights.
Show me the PIPS!
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