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Cable Update (GBPUSD)

  • #63,541
  • Apr 30, 2008 2:26pm Apr 30, 2008 2:26pm
An Exxon executive testified yesterday that according to supply and demand, a barrel of oit should be at $50 right now, according to OPEC's rules and regulations. It is causing a rift after the convoy of truckers doing a wagon train thing around the capitol building. They are trying to keep the raps on but it isnt working as right wing radio talk programs are spilling the goods.

Quoting Doose
I doubt gas will come back down.....

Right right now I pay $1US/ltr for 90 octane.

I'd be happy right now to pay $20 to full my tank....
  • #63,542
  • Apr 30, 2008 2:55pm Apr 30, 2008 2:55pm
Quoting Doose
I doubt gas will come back down.....

Right right now I pay $1US/ltr for 90 octane.

I'd be happy right now to pay $20 to full my tank....
The Brits are paying gbp 1.10 per litre which as we know is around 10.50 US per gallon but uk gallons are bigger so its only say 9usd per us gallon

Still, US petrol/gasolene is higher than i can ever remember it against uk petrol because of cable

I have been envious of the US for and their cheap gas for 20 years - I arrive there and buy a 270hp car and this happens ...
and the next town is 150 miles away !


UK petrol is expensive but your destination is usually 2 to 7 miles away

Life has a way of evening the score card


ok got my short on cable - now what ?
  • #63,543
  • Apr 30, 2008 3:00pm Apr 30, 2008 3:00pm
we are at a cross roads i think.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,544
  • Apr 30, 2008 3:11pm Apr 30, 2008 3:11pm
Let's see...

Amazing how price move!
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  • #63,545
  • Apr 30, 2008 3:13pm Apr 30, 2008 3:13pm
The only thing I would say is EUR-USD looks to be up
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,546
  • Apr 30, 2008 3:15pm Apr 30, 2008 3:15pm
Thats sort of what I have but not as pretty,lol


Quoting Carrera
Let's see...

Amazing how price move!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,547
  • Edited 3:30pm Apr 30, 2008 3:18pm | Edited 3:30pm
Quoting allserene
The Brits are paying gbp 1.10 per litre which as we know is around 10.50 US per gallon but uk gallons are bigger so its only say 9usd per us gallon

Still, US petrol/gasolene is higher than i can ever remember it against uk petrol because of cable

I have been envious of the US for and their cheap gas for 20 years - I arrive there and buy a 270hp car and this happens ...
and the next town is 150 miles away !


UK petrol is expensive but your destination is usually 2 to 7 miles away

Life has a way of evening the score card


ok got my short on cable - now what ?
well now the market gets quiet. I am biased to shorting...I have no orders in yet tho I think we're at a critical point base on my 1HR chart...

I will be watching how the market moves for the next 1 hour and then I will say wat I think will happen tonite.....

Well in Jamaica its $71.23JMD to $1USD and $140.XXJMD to $1GBP.

Rising world prices in food, oil and everything else increasing

Hence why I started trading......
  • #63,548
  • Apr 30, 2008 3:40pm Apr 30, 2008 3:40pm
I think we are seeing the first signs of summer ranging, any comments?

Jim
  • #63,549
  • Apr 30, 2008 3:58pm Apr 30, 2008 3:58pm
Quoting priceaction
The flight continues ...
Guys,

We are 50 pips away from a trend line which has held out three times already. If we get there, the 300 pip wave shown below will have been accomplished. If we get there (we're not overbought yet), will the trend line hold again? - we'll find out tomorrow.

Anyone who allowed themselves to ride the current wave formation and controlled their psychology would have enjoyed over 200 pips/day this week. Today's wave is already worth well over 200.

Don't over-complicate this and act like a madman in front of a slot machine at Vegas who can't wait to shove the next coin in the machine and hit the button. I've been there (few haven't) and I know the frustrated feeling and the losses that go with it.

Look at the woods ...the big picture; and don't get lost in the forest trying to figure out how to get over each tiny obstacle. Too much unnecessary stress! Exposure to too much risk. Too many losses.

Go with the flow. Look at the way-ve in which cable has been moving on the 4hr chart. One trade a day with Cable is all that anyone has needed this week for some very stress free profitable trading.

Since I started writing this post, Hard1Head1 (who posts some excellent material here) wrote below; "I think we are seeing the first signs of summer ranging, any comments?"

My comment is; "if that's the case, trading is going to be very boring and very profitable"

Rob
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  • #63,550
  • Apr 30, 2008 4:17pm Apr 30, 2008 4:17pm
Quoting Bones
The only thing I would say is EUR-USD looks to be up
I agree Bones.

Look at the 200 ema in relation to price on the monthly, weekly and daily.
Then see where the 200 and price is on the 4hr.

It's set to correct and get in line with the higher time frames again.

This is Trader TEB's system and it works a treat.
I have a buy stop at 1.5670.
I believe that TEB is already long (3 times)

Rob
PS sorry for talking about Euro in a Cable thread
  • #63,551
  • Apr 30, 2008 4:26pm Apr 30, 2008 4:26pm
Euro's been weak recently and Cable strong, which seems to be the pattern they'll change the money flow from Cable to Euro short so Cable down, Euro up.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,552
  • Apr 30, 2008 4:37pm Apr 30, 2008 4:37pm
Well we in indecision again ..and so far its a down trend....feds cut rates in amaerica again, stop recession so dollar will gain strength and pound become weak ...

this better happen otherwise i shall be pissed...im short and have SL miles away ...lol
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  • #63,553
  • Apr 30, 2008 4:57pm Apr 30, 2008 4:57pm
Euro closed over the 62ema line first time in 4 days off this rates cut.

But although fun, best not to be predictive!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,554
  • Apr 30, 2008 5:00pm Apr 30, 2008 5:00pm
Quoting nAVIN2007
Well we in indecision again ..and so far its a down trend....feds cut rates in amaerica again, stop recession so dollar will gain strength and pound become weak ...

this better happen otherwise i shall be pissed...im short and have SL miles away ...lol
i wish it were that simple
thats the idea they put in our heads but the reality is much more harsh

u c now they should turn to inflation to moderate it by not cutting rates and by seeing these high food and oil prices on the constant rise i wouldnt be surprised if by the end of this quarter increasing rates was talked about and even put in the agenda.

the only thing that can save dollar is good housing numbers.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #63,555
  • Apr 30, 2008 5:06pm Apr 30, 2008 5:06pm
Iran's just pulling out of trading oil with the USD aswell, this is not going to help the USA and only going to further increase oil and the price of everything else with it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #63,556
  • Apr 30, 2008 5:13pm Apr 30, 2008 5:13pm
Quoting Doose
This is str8 technicals....

  • #63,557
  • Apr 30, 2008 5:39pm Apr 30, 2008 5:39pm
Guys and Gals,

As stated before we got a possible bounce off the 4 Hr DTL with the trend. I saws a chart earlier, but I will show it again. It is also failing an Inside Top, which happens to be close to a round number, as we speak. There is also evidence of a turn down on the 15 Min chart with lower lows and lower highs forming. Also an evening star with a shooting star at the top. There is a lot of evidence for a 4 hr bounce here.

Jim
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  • #63,558
  • Apr 30, 2008 7:26pm Apr 30, 2008 7:26pm
Quoting Bones
The only thing I would say is EUR-USD looks to be up
Wish u would keep this out of GU
Darkness lies one inch ahead..
  • #63,559
  • Apr 30, 2008 9:23pm Apr 30, 2008 9:23pm
Possible upside to 19925 D1 24 % fib, if that breaks then onto swing highs 19965, 20026

or could retrace to 19790, 19750 or 19700
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Darkness lies one inch ahead..
  • #63,560
  • Edited May 1, 2008 12:31am Apr 30, 2008 9:25pm | Edited May 1, 2008 12:31am
My Trading Plan Target alternatives post FOMC remain similar to my post 63203 of 29/04/08 -My view remains the same because the low of 16/04/08 was not breached.
Despite timing delay, the opportunity was given to buy lower last night .

Alternative 1 - Cable going for either of 2.0050/2.0100/2.0165 and turn down.
or
Alternative 2 - Cable going for 2.0660.

But, I could be wrong !!!
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