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Cable Update (GBPUSD)

  • #51,121
  • Jan 27, 2008 1:00pm Jan 27, 2008 1:00pm
If it hits 2.0000, I don't think it will keep rallying.

I still expect a drop to around 1.92 ish within the next few months.
  • #51,122
  • Jan 27, 2008 2:24pm Jan 27, 2008 2:24pm
Quoting Designer1
in my chart the trendline is broke and cable going upside i have showed you screenshot its break!

correct your draw ... start from the top 2.1163 ... not from middle of down trend
  • #51,123
  • Jan 27, 2008 3:47pm Jan 27, 2008 3:47pm
Quoting deboooo2005
correct your draw ... start from the top 2.1163 ... not from middle of down trend
no, your trendline is wrong because it does not touch atleast 3 points.
  • #51,124
  • Jan 27, 2008 4:29pm Jan 27, 2008 4:29pm
Quoting Designer1
see the screenshot all possible trendline cable break like a SMASHING SHOT....and gone to up!
Designer, are you using Gann Fan in your chart?
  • #51,125
  • Jan 27, 2008 4:53pm Jan 27, 2008 4:53pm
Quoting forexmoments
If it hits 2.0000, I don't think it will keep rallying.

I still expect a drop to around 1.92 ish within the next few months.
why do you expect this?
  • #51,126
  • Edited 5:17pm Jan 27, 2008 5:03pm | Edited 5:17pm
i am short and thinking into applying martingale technique for every 300 pips against me, very little risk trade in size.
in case trade goes much against me which is unlikely.

probably gu will end up this year around $1.70 when supbrime deepens there.
uk economy is just too like usa and boe just has room to cut cut and cut more rates.

this weekend read a lot about uk citizens, economy, bussinesses and why seems is needed a strong easing policy to cut financial burden.
  • #51,127
  • Jan 27, 2008 5:32pm Jan 27, 2008 5:32pm
Quoting acidguy
i am short and thinking into applying martingale technique for every 300 pips against me, very little risk trade in size.
in case trade goes much against me which is unlikely.

probably gu will end up this year around $1.70 when supbrime deepens there.
uk economy is just too like usa and boe just has room to cut cut and cut more rates.

this weekend read a lot about uk citizens, economy, bussinesses and why seems is needed a strong easing policy to cut financial burden.
thats funny, because I read an article where King said that they expect inflation to rise above the target level this yr, so there really is no room to cut. This is because of CRUDE OIL!!!
  • #51,128
  • Jan 27, 2008 5:46pm Jan 27, 2008 5:46pm
Quoting AmeriTrini
thats funny, because I read an article where King said that they expect inflation to rise above the target level this yr, so there really is no room to cut. This is because of CRUDE OIL!!!
i also heared, but after that banks, retails bussinesses, investors got angry.

so they will choose to stress the consumers pocket when uk is consumer driven? this sounds weird.
  • #51,129
  • Jan 27, 2008 5:53pm Jan 27, 2008 5:53pm
Quoting forexmoments
If it hits 2.0000, I don't think it will keep rallying.

I still expect a drop to around 1.92 ish within the next few months.
Just currious, what make you think this ?
  • #51,130
  • Jan 27, 2008 6:16pm Jan 27, 2008 6:16pm
"I still expect a drop to around 1.92 ish within the next few months.?"

this is pretty conservative. target is 1.70 - 1.80.
  • #51,131
  • Jan 27, 2008 6:18pm Jan 27, 2008 6:18pm
Just broke the 9850 level and retraced.... ready for a long?

MykeFX
  • #51,132
  • Edited 6:41pm Jan 27, 2008 6:27pm | Edited 6:41pm
Quoting acidguy
"I still expect a drop to around 1.92 ish within the next few months.?"

this is pretty conservative. target is 1.70 - 1.80.
Based on what?
I just want to see this in my charts. That is why I'm asking about those targets.
  • #51,133
  • Jan 27, 2008 6:45pm Jan 27, 2008 6:45pm
Quoting Carrera
Based on what?
I just want to see this in my charts. That is why I'm asking about those targets.
what???

do you base your trading on charts??? wth.

does economies and goverment reacts to solely, currency pairs technicals???
currencies are supported by fundamentals.

just some mins ago was released another big decline in uk home prices and look what happened to gu also eu was affected.

charts were not predicting this, but price actions yes.
  • #51,134
  • Jan 27, 2008 6:52pm Jan 27, 2008 6:52pm
Quoting acidguy
what???

do you base your trading on charts??? wth.

does economies and goverment reacts to solely, currency pairs technicals???
currencies are supported by fundamentals.

just some mins ago was released another big decline in uk home prices and look what happened to gu also eu was affected.

charts were not predicting this, but price actions yes.
They don't, I DO.
After all their fundamentalishit, I make my money technicaly. And been a pattern trader, I don't follow any lagging indicator but my patterns.
  • #51,135
  • Jan 27, 2008 6:57pm Jan 27, 2008 6:57pm
well, lets see.

in a world where big banks, hedge funds, and big boys are saying their favorite trade is to sell pounds, dollars buy euros, buy yuan and yens.

and IFM saying pound is overvalued by more than 25%?
also king facing a possible replacement.
would not really like to be buying pounds.

just the thing that the ultrahawkish King brother of Trichet get out of the job.
would cause some nice gbp selloffs. we traders could benefit
  • #51,136
  • Jan 27, 2008 7:37pm Jan 27, 2008 7:37pm
Quoting acidguy
well, lets see.

in a world where big banks, hedge funds, and big boys are saying their favorite trade is to sell pounds, dollars buy euros, buy yuan and yens.

and IFM saying pound is overvalued by more than 25%?
also king facing a possible replacement.
would not really like to be buying pounds.

just the thing that the ultrahawkish King brother of Trichet get out of the job.
would cause some nice gbp selloffs. we traders could benefit
As I said before, AFTER ALL THAT FUNDAMENTALSHIT, I make my money technicaly. There are pattern to work with and allways will be pattern to make money out of it. After Sept. 11, US took a big hit, now is facing all that issues about the morgage situation, and look! is kicking some asses right now, not all the time but are nice rallies to run.
Last Nonfarm Employment was very bad for US, weeee, 130+ pips EUR and GBP vs USD, jippeee, what happern next, hmmm the happiness for those that went long ended soon. Everything reversed again. Damn it, was bad news for USD, so what!!!
My friend, this market is a rollercoster and dont'n matter what the big fellows said, allways there will be corrections up and down (retracement) that I will try to ride it. Let them make all the talk, and let's we all make all the pips.

I know fundamental is part of the trading so technical too. sometimes I use both, but technical is my strongest.
  • #51,137
  • Jan 27, 2008 7:54pm Jan 27, 2008 7:54pm
dont take it personally, i am talking about the market.

already short since 1.9850 targeting 1.9700 maybe tomorrow afternoon.
buy anyway, in case goes against me, is nice to use trailing stop.
mine currently just set at 10, so in case gu keeps going up, still win

and put another sell limit at next resistance point 1.9950-60. so
everything is roses.

usd and pound are weak, but usd has lot of doom and gloom priced in, pound did also last weeks but for some reason after bullish king and fed decition, pound managed to recovered fast,

when more bad news come from there, the downtrend is likely to continue. faster than usd overall depreciation.
or the days before boe decition, it has been like a drama.
the gbp selloff starts to take place, why???.
i dont have any idea, but the certain is fundamentals remain against gbp.

gbp is overvalued by at least 25%. did not create this, just world bank and imf, in the other side, euro is agreed to gain more ground.

also in this moment gbp has 1 drag, gbp/jpy. this force is likely to keep punishing the pound.
  • #51,138
  • Jan 27, 2008 7:55pm Jan 27, 2008 7:55pm
[quote=Carrera;1822830]As I said before, AFTER ALL THAT FUNDAMENTALSHIT, I make my money technicaly. There are pattern to work with and allways will be pattern to make money out of it.

Carrera,

I think you're right.. technical are more strong from fundamental.. 70 - 30.
That was i learn before that make me losses 1000 pips...
I like ur style...
  • #51,139
  • Edited 10:31pm Jan 27, 2008 8:15pm | Edited 10:31pm
also in in technicall way, we are in a daily downtrend .
the pair was soldoff hard when it tried to break it.

so. lets see , gu in this moment have some good money for many of us awarding.
if anyone is risky enough, enter with a mini lot, targeting 1.9700 sl 10 pips after current daily top.

this is the exact signal for today :
entry was at 1.9850. no SL, martingale strategy..

low risk target: 1.9800
medium risk target : 1.9750
high risk target : 1.9700
rogue trader target : 1.9600 supported by tuesday gbp report.

all this before FOMC decition.

this week is full of action.
  • #51,140
  • Jan 27, 2008 10:21pm Jan 27, 2008 10:21pm
don't get ban.

http://forexfactory.com/showthread.p...60#post1822960
If I Go Broke Trying Then I Will die happy.
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