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Cable Update (GBPUSD)

  • #52,101
  • Feb 5, 2008 9:00am Feb 5, 2008 9:00am
Cable past few weeks reacts opposite to the news, but we must see retrace from this down fall, i dont believe, that cable will head south more
  • #52,102
  • Feb 5, 2008 9:17am Feb 5, 2008 9:17am
Quoting sDRs
Cable past few weeks reacts opposite to the news, but we must see retrace from this down fall, i dont believe, that cable will head south more
I am glad someone else has noticed that GBP is trading opposite to the news

I got hit some last week with the drop in US employment and two big rate cuts ended up in - STRENGTH for the USD

That means that when it turns, it will head up fast - but that will not be soon looking at these charts

When I am satisfied that it has turned i will put a large medium term long on..

I could try a scalping short but i don't like trading against my basic assessment of where it is likely to go in the medium term..

perhaps next time's US employment change (DOWN 90k ?) and another rate cut, will send the dollar up to 1.82 - I know it's possible now

how weird it all is
  • #52,103
  • Feb 5, 2008 9:24am Feb 5, 2008 9:24am
speculation that RBS has £12billion hole in its accounts leading the way lower for cable, Northen rock sitution does not add to general confidence in sterling despite it currently being high yielder
Trading is 80% Emotional, 20% Technical
  • #52,104
  • Feb 5, 2008 9:34am Feb 5, 2008 9:34am
Quoting fx local
speculation that RBS has £12billion hole in its accounts leading the way lower for cable, Northen rock sitution does not add to general confidence in sterling despite it currently being high yielder
I am expecting some US banks to fail - big ones

the fed insured limit of 100k is all i will put in any US bank..

Now if some really big US banks bit the dust it would cause a drop for the dollar and level the playing field...

Northern rock was actually very solvent but Meryll, Countrywide etc etc have been playing a dangerous game and are very quiet
  • #52,105
  • Feb 5, 2008 9:37am Feb 5, 2008 9:37am
Quoting jacobtrader
Haha.. well just to let everyone know.. GBP/USD will be falling waaaayy down.. about 1.9485 levels.. to be exact..
I am not trying to be nasty but yesterday you were punting cable to over 2.0xx?

I still believe cable will end the week positive. Gold has had a retraction and that is why dollar is stronger. Gold went up last week to round $928 because we are having serious electrical supply problems in South Africa. Mines had no power for 3 day so gold price rocketed. The mines are now running on between 80% and 90% of the power they need. More elec interruptions expected. Golds price will be going up before end of the week then dollar comes down & cable goes up!
  • #52,106
  • Feb 5, 2008 9:47am Feb 5, 2008 9:47am
yeah today nice scalp


yihaaaaaaaaaaaaaaaaaaaaaaaaaa
  • #52,107
  • Feb 5, 2008 9:52am Feb 5, 2008 9:52am
Quoting allserene
I am expecting some US banks to fail - big ones

the fed insured limit of 100k is all i will put in any US bank..

Now if some really big US banks bit the dust it would cause a drop for the dollar and level the playing field...

Northern rock was actually very solvent but Meryll, Countrywide etc etc have been playing a dangerous game and are very quiet
Citi and ML should be bankrupt if it werent for Middle Easten bail out! The dollar is a long term sell especially when Ben Bernake keeps printing and printing and cutting rates. Never knew his mandate was top bail out his friends on Wall street, Short run exchange rates are cr@p shoot for sure, NRock sitution made UK government, chancellor look very incompetant in dealing with potential financial instabilty
Trading is 80% Emotional, 20% Technical
  • #52,108
  • Feb 5, 2008 9:54am Feb 5, 2008 9:54am
i saw in daily chart, cable will be in 1.8 area

hope
  • #52,109
  • Feb 5, 2008 9:55am Feb 5, 2008 9:55am
in my opinion, avoid cable for now, euro is really weak after data from there was awfull, ugly, whatever you want to name it.

and thats giving a lot of strenght to usd. also tomorrow we have GBP interest rate announcments. some analysts are even speculating a 50bp cut.
if this manages to be true. expect gu to plunge as you have not seen in much time. beware!!!.

in my opinion there are another great opportunites right now in the market like uj and usd/chf.

but if anyone is trading gu today, good luck!.
  • #52,110
  • Feb 5, 2008 9:59am Feb 5, 2008 9:59am
Quoting Runway Trade
I am not trying to be nasty but yesterday you were punting cable to over 2.0xx?

I still believe cable will end the week positive. Gold has had a retraction and that is why dollar is stronger. Gold went up last week to round $928 because we are having serious electrical supply problems in South Africa. Mines had no power for 3 day so gold price rocketed. The mines are now running on between 80% and 90% of the power they need. More elec interruptions expected. Golds price will be going up before end of the week then dollar comes down & cable goes up!

Please read my previous posts.. I never said it will go over 2.00..
Furthermore, i had a target of 1.9800 which didnt touch and it came down from 1.9785.. not bad but close..

Today i said it will go down, and i say still right now, it will go more down.. thank you
  • #52,111
  • Feb 5, 2008 10:06am Feb 5, 2008 10:06am
Quoting jacobtrader
Please read my previous posts.. I never said it will go over 2.00..
Furthermore, i had a target of 1.9800 which didnt touch and it came down from 1.9785.. not bad but close..

Today i said it will go down, and i say still right now, it will go more down.. thank you
no space to go more down
  • #52,112
  • Feb 5, 2008 10:09am Feb 5, 2008 10:09am
Quoting FXdaily
no space to go more down
of course it has space to go more, today i see psych 9600 within the next couple hrs and then a small retracement maybe to where we are now before the next drop to 9575 that will be its decision poiunt but if u guys didnt short it at 9950 then u have alot to do before u can trade forex, and if u missed that then yesterday was an easy as it gets when it rejected at 50% im not trying to be with my nose high but the gbp gave us pretty simple small risk trades since it reachd 9950
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  • #52,113
  • Feb 5, 2008 10:12am Feb 5, 2008 10:12am
Quoting quickh23a
of course it has space to go more, today i see psych 9600 within the next couple hrs and then a small retracement maybe to where we are now before the next drop to 9575 that will be its decision poiunt but if u guys didnt short it at 9950 then u have alot to do before u can trade forex, and if u missed that then yesterday was an easy as it gets when it rejected at 50% im not trying to be with my nose high but the gbp gave us pretty simple small risk trades since it reachd 9950

There is no space to go DOWN! 1.9755 Target
  • #52,114
  • Feb 5, 2008 10:14am Feb 5, 2008 10:14am
Quoting FXdaily
There is no space to go DOWN! 1.9755 Target
u get too attached to this trade . u marry the trades dont u no stops? lol yea i agree maybe in a few days/weeks/month it will eventually be profitable.
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  • #52,115
  • Feb 5, 2008 10:17am Feb 5, 2008 10:17am
Quoting acidguy
in my opinion, avoid cable for now, euro is really weak after data from there was awfull, ugly, whatever you want to name it.

and thats giving a lot of strenght to usd. also tomorrow we have GBP interest rate announcments. some analysts are even speculating a 50bp cut.
if this manages to be true. expect gu to plunge as you have not seen in much time. beware!!!.

in my opinion there are another great opportunites right now in the market like uj and usd/chf.

but if anyone is trading gu today, good luck!.
hope ur still in this martingale trade
{Promotion Removed}
  • #52,116
  • Feb 5, 2008 10:18am Feb 5, 2008 10:18am
you never know we might be just going sideways for the min,im still long btw,for the min
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #52,117
  • Feb 5, 2008 10:18am Feb 5, 2008 10:18am
Quoting quickh23a
u get too attached to this trade . u marry the trades dont u no stops? lol yea i agree maybe in a few days/weeks/month it will eventually be profitable.
stop loss 1,9600 target 1,9755
  • #52,118
  • Feb 5, 2008 10:18am Feb 5, 2008 10:18am
Quoting FXdaily
stop loss 1,9600 target 1,9755
and where did u place ur long?
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  • #52,119
  • Feb 5, 2008 10:21am Feb 5, 2008 10:21am
Quoting quickh23a
and where did u place ur long?
1,9673 14 LOT and 4 LOT @ 1,9653
  • #52,120
  • Feb 5, 2008 10:22am Feb 5, 2008 10:22am
Quoting 30pips
...third call within an hour long and long again but cable keep goin down
You find it funny? I wouldn't long Pound in the big picture, but what is so funny? POssible double bottom in range. 1.94
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