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Cable Update (GBPUSD)

  • #52,641
  • Feb 7, 2008 11:46am Feb 7, 2008 11:46am
Quoting allserene
Yes for anyone who thinks about news and fundamentals it's a strange time.

I have an unproven theory that this will cause a strong bounce back up when it does come

BOE and Fed are playing games with their announcements - BOE trying to talk the gbp down despite high interest rates still, and Fed trying to talk USD up despite lowering rates drastically

So far it's working

WE have CNBC talking about 1000 points up on the DOW and chartists saying 1000's down.

All the company news USA is bad and more interest rate cuts on the horizon and the usd climbs and climbs

It has slightly deflated me as I can't work in a logic vacuum for too long

Some people believe every market move is logical if you dig deep enough - well it's logical that illogical people want their money in the US economy right now I suppose and that makes the situation logical.

Everybody is moving out of US stocks - are they going to accept 2% in the bank or move the dosh overseas ?

It has to see 1.99 before it sees 1.82 I reckon

thanks to allserene, market is so strange and showing a decline in DJIA but a rebounce in USD index. i understand it now.

just one more question, some believe and point that cable must rebounce to some level around 2.01 or even higher, based on the EW analysis. Is yours based on it as well?
  • #52,642
  • Feb 7, 2008 12:01pm Feb 7, 2008 12:01pm
hello friends,
me here now..
What a lovely day..

So who thinks GU is going to 2.00 ? Let me see how many Bullish people are here..
  • #52,643
  • Feb 7, 2008 12:04pm Feb 7, 2008 12:04pm
Quoting mainath
thanks to allserene, market is so strange and showing a decline in DJIA but a rebounce in USD index. i understand it now.

just one more question, some believe and point that cable must rebounce to some level around 2.01 or even higher, based on the EW analysis. Is yours based on it as well?
I try to see some kind of long term trend which accords with economic cycles and conditions and news..

Then I look at basic chart indicators such as channels and moving averages

and try and swim with the stream..

When the stream does not make sense using these techiques, (now) i am up a creek without a paddle and I just sit here wondering when I can ever get back in...
  • #52,644
  • Feb 7, 2008 12:19pm Feb 7, 2008 12:19pm
well said!! cable massively oversold fundamentally, ithink interest rate differentials out the window, something very strange is taking presidence?! im bullish cable but my charts are signaling further moves lower. bizarre set of circumstances....
Trading is 80% Emotional, 20% Technical
  • #52,645
  • Feb 7, 2008 12:28pm Feb 7, 2008 12:28pm
I'm am still long, I've been expecting rally in the cable since 1.9550 but unfortunately we dipped at 1.9390, the daily low however is 1.9332. GO LONG FROM 1.9390!!
  • #52,646
  • Feb 7, 2008 12:38pm Feb 7, 2008 12:38pm
GBP/JPY, the carry trade pair seems to absorb its loss now. why the performance of cable fall behind so much? so strange
  • #52,647
  • Feb 7, 2008 1:03pm Feb 7, 2008 1:03pm
Quoting AmeriTrini
I'm am still long, I've been expecting rally in the cable since 1.9550 but unfortunately we dipped at 1.9390, the daily low however is 1.9332. GO LONG FROM 1.9390!!
nice ...
  • #52,648
  • Feb 7, 2008 1:08pm Feb 7, 2008 1:08pm
Not to raise conspiracy theory, but the divergence from OIL/GOLD values and USD and other majors, it's telling me the banks that are not typically in the Forex Market too much are now in trying to find somewhere to make profit.

Basically, banks who use to perform their fraud in the fixed income are now in forex?
  • #52,649
  • Feb 7, 2008 1:21pm Feb 7, 2008 1:21pm
Quoting jacobtrader
hello friends,
me here now..
What a lovely day..

So who thinks GU is going to 2.00 ? Let me see how many Bullish people are here..

I held longs from 1.9640 but my stops kicked in http://forexfactory.com/images/icons/icon9.gif. I'm still bullish, however, what are you doing now?

I'm about to put in another long but ... just don't want another kicking.
  • #52,650
  • Feb 7, 2008 1:28pm Feb 7, 2008 1:28pm
I had predicted it would go this low. In fact, I still maintain it will go as low as the previous months's low before it breaks the 2.0000 mark.
  • #52,651
  • Feb 7, 2008 1:41pm Feb 7, 2008 1:41pm
Quoting jacobtrader
hello friends,
me here now..
What a lovely day..

So who thinks GU is going to 2.00 ? Let me see how many Bullish people are here..
hi mate,so could you mind just say something about what you believe and wait to see for the cable in coming few weeks.
  • #52,652
  • Feb 7, 2008 1:59pm Feb 7, 2008 1:59pm
Those Bears that shed their coat this time of the year do bother me. lol .... Mind covering up the naughty? Thanks! I do feel bearish though ...... but not with you. The trend is your friend. IMO
  • #52,653
  • Feb 7, 2008 2:13pm Feb 7, 2008 2:13pm
holly crap im long from 1.9591 ...this is so strange but i have learnt a lot fundamentally it meant to go up...but technically it meant to go down.

does this mean that the technical analysis is more impt to use to trade as apossed to fundamentals
why are we going down? ..i dont get it? ...someone wanna explain this to me?
ive almost practically burnt my first demo account ...this is not good!!!!
  • #52,654
  • Feb 7, 2008 2:28pm Feb 7, 2008 2:28pm
Quoting TIckerShuffl
Not to raise conspiracy theory, but the divergence from OIL/GOLD values and USD and other majors, it's telling me the banks that are not typically in the Forex Market too much are now in trying to find somewhere to make profit.

Basically, banks who use to perform their fraud in the fixed income are now in forex?
Me I love a conspiracy theory,I dream them up all the time ,always sceptical of the market

I kept my long term long from 1.9650 to 1.9500 and am now hedged in from there I, still feel long unless that last months low is broken and am looking to drop my short somewhere near there,I mean that pin bar on the monthly is still valid right
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #52,655
  • Feb 7, 2008 2:35pm Feb 7, 2008 2:35pm
Quoting nAVIN2007
holly crap im long from 1.9591 ...this is so strange but i have learnt a lot fundamentally it meant to go up...but technically it meant to go down.

does this mean that the technical analysis is more impt to use to trade as apossed to fundamentals
why are we going down? ..i dont get it? ...someone wanna explain this to me?
ive almost practically burnt my first demo account ...this is not good!!!!
Technical anaylsis always wins in my mind, I just use the fundamentals to confirm these moves. Whenever they conflict however, and they will, go with the technicals.
  • #52,656
  • Feb 7, 2008 2:40pm Feb 7, 2008 2:40pm
Short or Long ....

I've given up and now scalping on the 1m bollinger bands. At least I'm getting some $$$ back.
  • #52,657
  • Feb 7, 2008 2:42pm Feb 7, 2008 2:42pm
Trend is still DOWN !!
  • #52,658
  • Feb 7, 2008 2:43pm Feb 7, 2008 2:43pm
Quoting Bones
Me I love a conspiracy theory,I dream them up all the time ,always sceptical of the market

I kept my long term long from 1.9650 to 1.9500 and am now hedged in from there I, still feel long unless that last months low is broken and am looking to drop my short somewhere near there,I mean that pin bar on the monthly is still valid right

I not worried, I will absorb it, I'm still long. What I have to reap will be much greater than what happened last night. We didnt break 1.9335 so that's a good sign for me, I'm waiting for the daily candle to form, so that I can monitor how it moves around the pivot. I may add positions from there.
  • #52,659
  • Feb 7, 2008 2:50pm Feb 7, 2008 2:50pm
Quoting FXdaily
Trend is still DOWN !!
I'm sorry man, but when everybody is LONG, LONG it is. I don't really know what makes you feel like "trend is down", WTF. You might have some sort of hidden agenda as to deliberately harm people around here, whatever.

Chart below is CLEAR.

TREND IS UP
Attached Image
  • #52,660
  • Feb 7, 2008 2:53pm Feb 7, 2008 2:53pm
Quoting cesarnc
I'm sorry man, but when everybody is LONG, LONG it is. I don't really know what makes you feel like "trend is down", WTF. You might have some sort of hidden agenda as to deliberately harm people around here, whatever.

Chart below is CLEAR.

TREND IS UP
Now I clearly see. (I'm learning all the time here)
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