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Cable Update (GBPUSD)

  • #59,541
  • Mar 26, 2008 7:58am Mar 26, 2008 7:58am
I also wouldn't expect it to turn into a bannana you've been warned
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,542
  • Mar 26, 2008 8:14am Mar 26, 2008 8:14am
Intraday: market pretty much ignoring the waeker than expected U.s durable goods in favour of £ downside risks scenario outlined by MPC earlier. Some U.s new Home sales data due at 1400pm gmt.
ex member
  • #59,543
  • Mar 26, 2008 8:15am Mar 26, 2008 8:15am
Quoting salah k.
wow dude u just totally shattered my faith in news...

News is all well and good until you factor in the big boys have departments which think about news soley and pretty much know whats coming and position themselves before the news for the news.

No one, would expect after this news for the market to run back up over 2.0000 ( okay it hasn't yet ), but if so there just positioning themselves for the next news item.

Makes reading the news pointless, cause it forces you to have a bearish or bullish bias and when it moves the opposite way you fight it due to the news and get slapped.

The market makers will ALWAYS move the market in the direction Retail least suspects, it's how they make there $$$'s from us to them!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,544
  • Mar 26, 2008 8:19am Mar 26, 2008 8:19am
You'd expect new home sales to be good but.....


But as it's based on a just got to be better than the estimate it's just madness really.

It's all a game sadly, nothing more, it's meaningless just redistrubting cash, but doesn't mean we can't play the game and make money at it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,545
  • Mar 26, 2008 8:25am Mar 26, 2008 8:25am
May I suggest a cautious short on EUR/GBP? After such a sharp jump to all the time high it's overdue for a nice correction in the next two hours.

The pair is at the top of the sideways trend that started on March 16th

So, EUR/GBP direction is clearer that either of these two at the moment.
"Luxury is one of the basic needs", (c), Don Corleone
  • #59,546
  • Mar 26, 2008 8:26am Mar 26, 2008 8:26am
Quoting Turveyd
It's all a game sadly, nothing more, it's meaningless just redistrubting cash, but doesn't mean we can't play the game and make money at it.
Absolutely...well said
ex member
  • #59,547
  • Mar 26, 2008 8:31am Mar 26, 2008 8:31am
I mentioned yesterday that cable will have a high today then come back down. It's following nicely. Today should have a low of about 9903, then tomorrow will toy with the 9848 area.

I still reckon we are the way to 9661 for next Thursday.
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  • #59,548
  • Mar 26, 2008 8:31am Mar 26, 2008 8:31am
Quoting Turveyd
You'd expect new home sales to be good but.....


But as it's based on a just got to be better than the estimate it's just madness really.

It's all a game sadly, nothing more, it's meaningless just redistrubting cash, but doesn't mean we can't play the game and make money at it.
actually isnt it expected to be weak???????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #59,549
  • Mar 26, 2008 8:35am Mar 26, 2008 8:35am
.....
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ex member
  • #59,550
  • Mar 26, 2008 8:47am Mar 26, 2008 8:47am
Salah, they lowered the estimate by 10K on last month's result, so if they drop 5K on last month, thats 5K over estimate and down the market goes.


So yes, being weak would cause my run up, looks like buying already, bounced off 25 area we'll see.


Not trading today, got meetings to go to!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,551
  • Mar 26, 2008 9:00am Mar 26, 2008 9:00am
price at equal ratio 19875 for gchf i am comfortable with cable at low 199 any lower not in the card atm ciao



Quoting forex3e
gchf broke triangle cause sudden drop in cable at .50*
  • #59,552
  • Mar 26, 2008 9:15am Mar 26, 2008 9:15am
New home sales viewed as good as better than forecaste despite being down on last months!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,553
  • Mar 26, 2008 9:41am Mar 26, 2008 9:41am
I think we can call that a PERFECT score there, amazing, just wish I'd of traded it!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,554
  • Mar 26, 2008 10:06am Mar 26, 2008 10:06am
Cable goes up again or it's just me seeing things?
I'm just a newbie
Don't worry, life's too short
  • #59,555
  • Mar 26, 2008 11:01am Mar 26, 2008 11:01am
See my horizontal line/support.. the price is playing around on tht line and this candle is opening above it.. the next one maybe a good projection to another high..

Take a look..
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N remember, daily candle have strong capability to close above the horizontal line that i draw..
  • #59,556
  • Mar 26, 2008 11:01am Mar 26, 2008 11:01am
I don't quite agree... Just because the fundamental isn't right for cable to shoot up... The MPC meeting signaled a possible downtrend for cable, and thus it lost its buyers...
Home sales was good for $, a little bit positive to cover up the durable goods, yet... We don't have enough clue (yet)..
Quoting Toleot
Cable goes up again or it's just me seeing things?
I'm just a newbie
  • #59,557
  • Edited 12:38pm Mar 26, 2008 11:47am | Edited 12:38pm
I'm loss the first chance to take 70 pips long from 2.0040, TP on 2.0115, 4 pips miss due to offline bussiness.

But still have the second chance close 2.0080, 40 pips !

Btw thanks and congratz again for Abuawad. His 1st both of up and down target has been grabbed all !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #59,558
  • Mar 26, 2008 11:52am Mar 26, 2008 11:52am
I havent got time to explain myself but ended up with 3 buys in that move .
1 got triggered at the top at 2.0075 this morning
2 triggered at 1.9965
going to see what the daily close looks like
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,559
  • Mar 26, 2008 12:30pm Mar 26, 2008 12:30pm
Scarey, I called that perfectly, we'll go higher to!!!!


I think I'm getting there, we'll see when money is at stake ofcourse though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,560
  • Mar 26, 2008 12:36pm Mar 26, 2008 12:36pm
i hope navin is ok, we had one hell of a ride
If I Go Broke Trying Then I Will die happy.
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