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Cable Update (GBPUSD)

  • #41,721
  • Nov 28, 2007 1:31pm Nov 28, 2007 1:31pm
Those that took heed of my post 41501 should now be counting their $$$$.
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  • #41,722
  • Nov 28, 2007 1:33pm Nov 28, 2007 1:33pm
ahahahhaha this is soooooooo much fun !!!!!!!!!!!!!!!!!!
"Lunch ? Lunch Is For Wimps !"
  • #41,723
  • Nov 28, 2007 1:39pm Nov 28, 2007 1:39pm
You gotta love it, Fed Rate Cut talks and Wallstreet goes to party while the Dollar cries.

Soooo true when they say that out of all the investors, equity ones are the most stupid, while forex ones are the smartest
"Lunch ? Lunch Is For Wimps !"
  • #41,724
  • Nov 28, 2007 1:44pm Nov 28, 2007 1:44pm
Well, let's say thanks to that little beige book
"Lunch ? Lunch Is For Wimps !"
  • #41,725
  • Nov 28, 2007 1:52pm Nov 28, 2007 1:52pm
It is strangely quiet in here after such a big move......I hope not everybody was short
"Lunch ? Lunch Is For Wimps !"
  • #41,726
  • Nov 28, 2007 1:57pm Nov 28, 2007 1:57pm
Quoting MrFuture
It is strangely quiet in here after such a big move......I hope not everybody was short
i was - but not for long - just gone back in hoping for some profit taking
  • #41,727
  • Nov 28, 2007 2:06pm Nov 28, 2007 2:06pm
I see. I sold for a 81 pips profit. I can hardly believe it since for most of the morning I was down 50 pips. Then as soon as I saw the "big picture," the pennant on the daily chart, I knew I might get some luck.
"Lunch ? Lunch Is For Wimps !"
  • #41,728
  • Nov 28, 2007 2:15pm Nov 28, 2007 2:15pm
Quoting MrFuture
I see. I sold for a 81 pips profit. I can hardly believe it since for most of the morning I was down 50 pips. Then as soon as I saw the "big picture," the pennant on the daily chart, I knew I might get some luck.

what price you have sold, and what price you expect it can go ?
  • #41,729
  • Nov 28, 2007 2:16pm Nov 28, 2007 2:16pm
Seems to be holding well at 800. I wonder if it wants to go to the next fibo around 860.....

I wouldn't be surpirsed if it ranged a little for a few hours before making up its mind....


There's UK housing news at 2am tomorrow to take into consideration,,,,
"Lunch ? Lunch Is For Wimps !"
  • #41,730
  • Nov 28, 2007 2:19pm Nov 28, 2007 2:19pm
Quoting mohsen57
what price you have sold, and what price you expect it can go ?
I sold at 805, got it at 724 and got scared to death when at one point I was under 50 pips, but all signals were good and I stayed in.....
"Lunch ? Lunch Is For Wimps !"
  • #41,731
  • Nov 28, 2007 2:19pm Nov 28, 2007 2:19pm
GMT November 28 Cable opened in New York trading 2.0620 and saw an
extremely volatile session with the pair relentlessly driving higher throughout
the session taking out key resistance by 2.0765 to open fresh upside towards the
next top-side level by 2.0845. The primary driver of price action came from a
renewed risk appetite as reflected in the strong rebound in equities and
resurgence in carry demand. The abatement of credit concerns along with market
interpreted reassurances from the Fed of a rate cut at the upcoming meeting
fueled the drive higher through the morning and into the afternoon, with the
release of the beige book triggering additional buying on news of slower growth.
Offers are now touted ahead of 2.0845 and we would expect the latter to cap.
Looking ahead, November"s Nationwide UK house price survey will be released
at 07:00GMT, with BoE October mortgage approvals ensuing at 09:30GMT. November"s
CBI retail sales report will be disclosed at 11:00GMT. BoE Governor Mervyn King
and other MPC members are also slated to appear before the Treasury Select
Committee.
  • #41,732
  • Nov 28, 2007 2:22pm Nov 28, 2007 2:22pm
Quoting MrFuture
I sold at 805, got it at 724 and got scared to death when at one point I was under 50 pips, but all signals were good and I stayed in.....
thank you, so for a target eventually you expect 724 area, may i ask what is that level, fibo or something, thank you.
  • #41,733
  • Nov 28, 2007 2:23pm Nov 28, 2007 2:23pm
Tim, where do you get these comments from ? I like them....
"Lunch ? Lunch Is For Wimps !"
  • #41,734
  • Nov 28, 2007 2:25pm Nov 28, 2007 2:25pm
Quoting mohsen57
thank you, so for a target eventually you expect 724 area, may i ask what is that level, fibo or something, thank you.
No no, I got in at 724 and sold at 805.

Target might be the next fibo at 860 or something, but we might get some range movememnts before it gets there, AND, most importantly, housing news comes out from the UK which can really mess it all up and create some confusion once again.....plus after such a big spike many will probably do like I did and sell for a profit.....
"Lunch ? Lunch Is For Wimps !"
  • #41,735
  • Nov 28, 2007 2:30pm Nov 28, 2007 2:30pm
Quoting MrFuture
Tim, where do you get these comments from ? I like them....
live feed from dailyfx, comes with the acc i have with fxcm
  • #41,736
  • Nov 28, 2007 2:32pm Nov 28, 2007 2:32pm
they say things like this:
We have decided to book profits on our long trade ahead of 2.0845. Rebound has now pushed through the hourly downtrend line at 2.0680 back above latest 2.0765. Key short-term resistance by 2.0765 has now been taken out opening a retest of the 2.0845 14Nov highs which coincide with the 61.8% retrace off of the 2.1160-2.0355 move



they got 155 pips
  • #41,737
  • Nov 28, 2007 2:32pm Nov 28, 2007 2:32pm
Quoting tim1234
live feed from dailyfx, comes with the acc i have with fxcm
Good for you...

IBFX feed is like:

Title: "Sterling up against the dollar"

Then I double click in the tittle to get the details

"Nov 28 - Sterling up against the dollar, today"

  • #41,738
  • Nov 28, 2007 2:51pm Nov 28, 2007 2:51pm
Quoting tim1234
they say things like this:
We have decided to book profits on our long trade ahead of 2.0845. Rebound has now pushed through the hourly downtrend line at 2.0680 back above latest 2.0765. Key short-term resistance by 2.0765 has now been taken out opening a retest of the 2.0845 14Nov highs which coincide with the 61.8% retrace off of the 2.1160-2.0355 move



they got 155 pips
I like that, active comments are good to have. But can't I just get their news without opening an acct with them ? And BTW I appreciate you keeping us updated in here
"Lunch ? Lunch Is For Wimps !"
  • #41,739
  • Nov 28, 2007 3:04pm Nov 28, 2007 3:04pm
Quoting MrFuture
I like that, active comments are good to have. But can't I just get their news without opening an acct with them ? And BTW I appreciate you keeping us updated in here
i dont think you can

it comes from here http://www.thomson.com/ have a look
  • #41,740
  • Nov 28, 2007 3:20pm Nov 28, 2007 3:20pm
Quoting tim1234
i dont think you can

it comes from here http://www.thomson.com/ have a look

Thanks a million...pips !
"Lunch ? Lunch Is For Wimps !"
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