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Cable Update (GBPUSD)

  • #61,441
  • Apr 13, 2008 1:56pm Apr 13, 2008 1:56pm
Quoting Tmac
pre-Wellington EUR trading 1.5645/70

GBP/USD 1.9630/65
usd/jpy 101.35/55

Thin liquidity anything goes! Knee-jerk favoured USD, wonder what smart money would be up to
You say these are the current rates? So if you don't look at the high spread you should look at the bid prices which are the lower ones right?
  • #61,442
  • Apr 13, 2008 2:00pm Apr 13, 2008 2:00pm
Quoting SimonJ
You say these are the current rates? So if you don't look at the high spread you should look at the bid prices which are the lower ones right?
yes if you trade the gaps on sunday open

I personally like sunday open better than any other day of the week as market TELLS you from close friday to open sunday where its gonna go most times....awesome pips to be had sunday nights, trade smart and take the rest of the week off

BUT these are not locked pips either, many times the market does not close the gap right away but may take a couple days to do so
Don't chase the market, Let the market come to you
  • #61,443
  • Apr 13, 2008 2:10pm Apr 13, 2008 2:10pm
Hi Guys,in Cmc I Can See Prices R Down More Enough As It Seems To Be Opening In Gap,can Any One Seeaud Low 09230eur Low 1.5664gbp Low 1.9662can Any One Agrees,rgdskrishna
LIVE LOVE LAUGH KRISHNA
  • #61,444
  • Apr 13, 2008 2:12pm Apr 13, 2008 2:12pm
yes thats true. i am watching this crazy shit for last half an hour.
Quoting krishna
Hi Guys,in Cmc I Can See Prices R Down More Enough As It Seems To Be Opening In Gap,can Any One Seeaud Low 09230eur Low 1.5664gbp Low 1.9662can Any One Agrees,rgdskrishna
  • #61,445
  • Apr 13, 2008 3:03pm Apr 13, 2008 3:03pm
Hey Guys,

Just to give you a heads up, the EUR is gonna be sold off, and already is being sold off, big style! The G7 summit minutes mentioned controling the recent fluctuations, i reckon monday is gonna be one cray day.

Fasten your seatbelts
The customer is always right!
  • #61,446
  • Apr 13, 2008 3:09pm Apr 13, 2008 3:09pm
Quoting Pipfox
Hey Guys,

Just to give you a heads up, the EUR is gonna be sold off, and already is being sold off, big style! The G7 summit minutes mentioned controling the recent fluctuations, i reckon monday is gonna be one cray day.

Fasten your seatbelts

Well pipfox if ur right and those sorry excuse for leaders decided to act
i have one thing to say


ITS ABOUT DAMN TIME
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,447
  • Apr 13, 2008 3:17pm Apr 13, 2008 3:17pm
Salah,
I'm not too sure about intervention. It can throw the markets in the other direction to where they were going, its not free trade. I advocate free markets, if the currency is strong, let it be strong, it will come round eventually.

Anyway, me thinks cable will be dropping some nice pips today, i'm sellin' and ridin'!
The customer is always right!
  • #61,448
  • Apr 13, 2008 3:33pm Apr 13, 2008 3:33pm
Quoting Pipfox
Hey Guys,

Just to give you a heads up, the EUR is gonna be sold off, and already is being sold off, big style! The G7 summit minutes mentioned controling the recent fluctuations, i reckon monday is gonna be one cray day.

Fasten your seatbelts
be careful here, there are market forces you cannot predict, the euro is not done yet
Don't chase the market, Let the market come to you
  • #61,449
  • Apr 13, 2008 3:38pm Apr 13, 2008 3:38pm
Quoting Pipfox
Hey Guys,

Just to give you a heads up, the EUR is gonna be sold off, and already is being sold off, big style! The G7 summit minutes mentioned controling the recent fluctuations, i reckon monday is gonna be one cray day.

Fasten your seatbelts

BTW please post what leads you to this conclusion and a chart to back it up if you would please
Don't chase the market, Let the market come to you
  • #61,450
  • Apr 13, 2008 3:39pm Apr 13, 2008 3:39pm
Tmac, are you fancying a test of 1.6 first, to close the gap?

I think the gaps on USD crosses will not close their gaps for at least today. I wanna see some major sell offs. Do you know something i dont? Please enlighten me.
The customer is always right!
  • #61,451
  • Apr 13, 2008 3:44pm Apr 13, 2008 3:44pm
We are sat right on the S2 level, waiting for direction. Tora, Tora, Tora!!!
The customer is always right!
  • #61,452
  • Apr 13, 2008 3:45pm Apr 13, 2008 3:45pm
Quoting Pipfox
Tmac, are you fancying a test of 1.6 first, to close the gap?

I think the gaps on USD crosses will not close their gaps for at least today. I wanna see some major sell offs. Do you know something i dont? Please enlighten me.
nothing that I know that you do not only that this is the expected reaction for retail traders so to make a statement like this with no charts or calculations to back it up can be misleading.

I agree the retail sales are projected to be better tomorrow so usd will/should rally some but never underestimate the strength of the euro right now short term. It has shown NO signs yet of trend reversal and until those signs are confirmed we are still in an uptrend market in the euro

I have 20 lots long from 5662 looking for 5735 at a min with a tight finger ready tp
Don't chase the market, Let the market come to you
  • #61,453
  • Apr 13, 2008 3:53pm Apr 13, 2008 3:53pm
I completely respect the technicals and i use them myself. I just think such a major piece of news will, in the short term, have some bearish effect on the USD crosses, regardless of current trend. I respect that S&R levels still play key roles whichever way the market is headed.
The customer is always right!
  • #61,454
  • Apr 13, 2008 4:05pm Apr 13, 2008 4:05pm
correct me if im wrong because i believe my eyes are deceiving me but did euro drop 115 points.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,455
  • Apr 13, 2008 4:05pm Apr 13, 2008 4:05pm
1.9653 ..quite a gap ..looks like the first plan is the one then ..so much for the uptrend channel ..
  • #61,456
  • Apr 13, 2008 4:11pm Apr 13, 2008 4:11pm
Quoting salah k.
correct me if im wrong because i believe my eyes are deceiving me but did euro drop 115 points.
150 pips


Waiting to see how gold and oil open
Don't chase the market, Let the market come to you
  • #61,457
  • Apr 13, 2008 4:16pm Apr 13, 2008 4:16pm
Quoting Tmac
150 pips


Waiting to see how gold and oil open
i sure hope they fall because im betting on silver downtrend

looks like we wont have a top to sell cable from

oh well i think i'll wait till the reports to sell

PS: well done Navin u were right
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,458
  • Apr 13, 2008 4:21pm Apr 13, 2008 4:21pm
Quoting salah k.
i sure hope they fall because im betting on silver downtrend

looks like we wont have a top to sell cable from

oh well i think i'll wait till the reports to sell

PS: well done Navin u were right
Salah i wasnt bro...infact the one thing i dont wanna do is predict the market i will just play price action...last week i thinking of shorting EUR cause there were signs that we could see a top..but still the trend is up...

this means shorting cable is a postive signal ..i suspect tonight cable will go up...news will take it higher and midweek will be the time to short .. to target 1.94

based on the assumption EUR indeed is going down ..

there was 2 points of view ..sell from the top and we are retracement uptrend (monthly chart)..i fancy sell from the top now assuming it will get there ofcourse ......lol
  • #61,459
  • Apr 13, 2008 4:31pm Apr 13, 2008 4:31pm
Quoting nAVIN2007
Salah i wasnt bro...infact the one thing i dont wanna do is predict the market i will just play price action...last week i thinking of shorting EUR cause there were signs that we could see a top..but still the trend is up...

this means shorting cable is a postive signal ..i suspect tonight cable will go up...news will take it higher and midweek will be the time to short .. to target 1.94

based on the assumption EUR indeed is going down ..
the news is positive for UK
but the most important news is US news so beware my friend

one other thing if the G7 is right and after OPEC said that demand will decrease we might see a commodity drop and hence dollar strength

hence -----> cable overall weakness

that is if this scenario plays out.

PS: Navin everything we do in here is predicting the markets
you anticipating price action or the very entry of a position is due to a subconscious or conscious prediction of the market.

IT'S ALL ABOUT ANALYZING GRAPHS AND FUNDAMENTALS TO BE ABLE TO PREDICT THE MARKET CORRECTLY.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #61,460
  • Apr 13, 2008 4:38pm Apr 13, 2008 4:38pm
Talk about a giggity giggity gap! On the weekly charts, my 5 sma is resting at 1.98 so I would expect a move back to there before heading lower still. 1.95 is the first target. I really expect this gap to be filled fairly quickly this week and once we reach the 1.98 area or even close again, I plan on adding a much larger short position to the mix.
I dream, therefore I become.
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