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Cable Update (GBPUSD)

  • #64,561
  • May 7, 2008 10:14am May 7, 2008 10:14am
guys what do you think about this?
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  • #64,562
  • May 7, 2008 10:16am May 7, 2008 10:16am
Quoting Carrera
This is my strategy.
I just trying to avoid stupid retrace. 15% is good for me to get in. Many times I see sideway movement before break the 15% retrace so, why worry if price is not going any where but sideways?
See chart bellow.
Order triggered!
  • #64,563
  • May 7, 2008 10:16am May 7, 2008 10:16am
Put or Call option did they say ?? Call is closes over it's worth something and vice versa ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,564
  • May 7, 2008 10:18am May 7, 2008 10:18am
Quoting Carrera
Order triggered!
Now start the action.

I close my platform and forget for a while about contract.
  • #64,565
  • May 7, 2008 10:19am May 7, 2008 10:19am
Sitting right under my 3hour come on PUSH!!!

Euro's busting through the 3hour though well trying harder so should lift gbp with it aswell, hopefully.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,566
  • May 7, 2008 10:20am May 7, 2008 10:20am
Quoting DeePipster
I'm pissed at myself. I had my take profit at 1.9505 and I was going to go long at that moment... but it started moving up after the release of pending house sales (fake move up) and I closed it early. What number did it get to??? 1.9504!!!!!

I don't think it's going much lower than that- there is an exotic option at 1.95 and it's getting oversold. I think that will be our bottom. However, I've been wrong before.

I end up doing this a lot- do you guys? I will make my plan.. have everything set out.. and then chicken out and watch it do exactly what I thought it was going to do. That's the freaking worst.
Yes it's called being ahead of your time - many inventors go broke being ahead of their time.

but it can stay irrational one nanosecond longer than we can stay liquid, then do what it is supposed to.....

funny how it does that - perhaps we all think what we are led to think, and then we get fleeced and then it moves back

I think I will just trade opposite to the perceived wisdom as a laugh and see what happens - could be a soros move !
  • #64,567
  • May 7, 2008 10:24am May 7, 2008 10:24am
guys what do you think about this?
Attached Image
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  • #64,568
  • May 7, 2008 10:25am May 7, 2008 10:25am
Turv maybe I shud tell u I'm long too.

I hope this new knowledge doesnt scare u...
  • #64,569
  • May 7, 2008 10:28am May 7, 2008 10:28am
Quoting Doose
Turv maybe I shud tell u I'm long too.

I hope this new knowledge doesnt scare u...
Too late already scared a lad on MSN's just gone long, guaranteed DOOMED!!!

Don't think he's joined me on 1 winning trade be afraid!!



Euro failed to break it gbp showing some strength though.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,570
  • May 7, 2008 10:29am May 7, 2008 10:29am
Quoting Turveyd
Put or Call option did they say ?? Call is closes over it's worth something and vice versa ??
They called it an "exotic option barrier" in one news bit and "exotic exposure" in another.

This is what one of the news items said-

"London, May 7. A 1.9600 GBP put option rolls off at the 10am Eastern NY cut tomorrow, beyond the 11:00GMT BoE MPC base rate verdict. The consensus forecast is that the UK base rate will be held at 5.0%--although eight members of the Cazenove MPC advocate a 25bp cut to 4.75%. Two members of the "Shadow" MPC recommend a 50bp cut to 4.5% (Sunday Times). Exotic exposure is tipped at 1.9500. [email protected]"
  • #64,571
  • May 7, 2008 10:31am May 7, 2008 10:31am
Quoting Carrera
Order triggered!
Welcome Aboard
USD Est Non Mortuus
  • #64,572
  • May 7, 2008 10:37am May 7, 2008 10:37am
Quoting DeePipster
They called it an "exotic option barrier" in one news bit and "exotic exposure" in another.

This is what one of the news items said-

"London, May 7. A 1.9600 GBP put option rolls off at the 10am Eastern NY cut tomorrow, beyond the 11:00GMT BoE MPC base rate verdict. The consensus forecast is that the UK base rate will be held at 5.0%--although eight members of the Cazenove MPC advocate a 25bp cut to 4.75%. Two members of the "Shadow" MPC recommend a 50bp cut to 4.5% (Sunday Times). Exotic exposure is tipped at 1.9500. [email protected]"
Thanks!!

Need to find a FX Options broker, for playing longer term fixed risk holds.

Yes I've traded options profitably until I blew my account in 2days so understand the risks $6000 SOB SOB SOB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,573
  • May 7, 2008 10:37am May 7, 2008 10:37am
1h showing some bullish strength but i think im gonna wait till new 4h candle i hate it to be one of those surprises were it makes 300pips in one day.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,574
  • May 7, 2008 10:39am May 7, 2008 10:39am
Quoting salah k.
1h showing some bullish strength but i think im gonna wait till new 4h candle i hate it to be one of those surprises were it makes 300pips in one day.
up up in the way
  • #64,575
  • May 7, 2008 10:40am May 7, 2008 10:40am
Quoting LuckyLurker
Welcome Aboard
Lets see if the sea is good today for a ride in this big boat.

If sea is bad for navigation, well...

grap one of this as soon you can!!!!!!
Attached Image
  • #64,576
  • May 7, 2008 10:40am May 7, 2008 10:40am
good news for cable longs
tomorrows rate decision holds no rate cut and if the statement following the decision is all about inflation we might see 9700 again.

ofcourse this could be totally opposite and a rate cut could happen due to the bad numbers we've been seeing all month and drive cable under 9300
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #64,577
  • May 7, 2008 10:44am May 7, 2008 10:44am
Quoting salah k.
good news for cable longs
tomorrows rate decision holds no rate cut and if the statement following the decision is all about inflation we might see 9700 again.

ofcourse this could be totally opposite and a rate cut could happen due to the bad numbers we've been seeing all month and drive cable under 9300
lol Carrera nice picture highly relevant!

salah, they do not release statement if they keep rates unchanged, i think if they cut they will be alot of talk of inflation etc could well spark a rally from spike low perhaps.. perhaps some1 ie bank or fund knows they will cut already hence the sell off today
Trading is 80% Emotional, 20% Technical
  • #64,578
  • Edited 10:51am May 7, 2008 10:49am | Edited 10:51am
Damned 3hour sma held and it kicked down as expected


Euro to new lows aswell looking BAD


Interesting HUGE buying here
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Click to Enlarge Name: 3hour stops play.jpg Size: 142 KB
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #64,579
  • May 7, 2008 10:55am May 7, 2008 10:55am
Quoting Turveyd
.....it kicked down ......


Euro to new lows aswell looking BAD


Interesting HUGE buying here
yea I thought the samething Turv..


So who jumped ship awhile ago?
  • #64,580
  • May 7, 2008 11:02am May 7, 2008 11:02am
Back right under that line again, I hate it when my own system stops my trading from profiting.

1.9526, 1.9546 is the next target IF taken out!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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