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Cable Update (GBPUSD)

  • #65,701
  • May 13, 2008 11:17am May 13, 2008 11:17am
WELCOME TO THE CLUB
Quoting roxxy23

Cable up we go . I have been waiting for this for so long.

  • #65,702
  • May 13, 2008 11:22am May 13, 2008 11:22am
Quoting DJ4x
WELCOME TO THE CLUB
  • #65,703
  • May 13, 2008 11:24am May 13, 2008 11:24am
Quoting hornet
1.9460 and then down again

MAN....I missed 1.9400 by what ? Less than 20 pips ?

Now I like it better. Bit of consolidation for the next 12hrs or so and then we can move up.
The quality of your life is brought about by the quality of your thinking.
  • #65,704
  • May 13, 2008 11:24am May 13, 2008 11:24am
for those who wonder why somtimes the euro goes up further than the gbp, watch the eur/gbp... when this pair rises cable falls, and euro rises.

Quoting scyang
Cable just does not have any strength. Even when euro was running up, it just doesn't follow the parade. I closed my long for a small profit. Thought it was best not to incur any loss.

  • #65,705
  • May 13, 2008 11:26am May 13, 2008 11:26am
Quoting roxxy23
for those who wonder why somtimes the euro goes up further than the gbp, watch the eur/gbp... when this pair rises cable falls, and euro rises.
What I really would like to know is why, after all the UK green news, why cable still has no strength to go higher.
Expected the unexpected
  • #65,706
  • May 13, 2008 11:31am May 13, 2008 11:31am
I'm shorting after confirmation of the retracement completion at about 1.9525. SL: 1.9558 My first target is 1.9337. If it doesn't get to my levels, I'll sleep like a baby. Even if it does, the SL is tight enough for cofort.


C

Quoting nAVIN2007
the way this is going it dont want to go up...even the news wont take it up!..
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  • #65,707
  • May 13, 2008 11:32am May 13, 2008 11:32am
Quoting scyang
What I really would like to know is why, after all the UK green news, why cable still has no strength to go higher.
but yesterday the new was enough to take it up ....one day fundamentally what changes nothing ... was a smoke screen ....gambling thats what i find fustrating......didnt do nothing wrong...just banks big player playing games ..

somebody has to much money ..
  • #65,708
  • May 13, 2008 11:35am May 13, 2008 11:35am
RICS House prices from last night has been pushing it down. Also oil supply was cut in IRAQ driving euro & eur/gbp up

I estimate that it will reach 1.9600 by tomorrow though

Quoting scyang
What I really would like to know is why, after all the UK green news, why cable still has no strength to go higher.

  • #65,709
  • May 13, 2008 11:36am May 13, 2008 11:36am
Quoting nAVIN2007
but yesterday the new was enough to take it up ....one day fundamentally what changes nothing ... was a smoke screen ....gambling thats what i find fustrating......didnt do nothing wrong...just banks big player playing games ..

somebody has to much money ..
That's the only conclusion I can draw - big boys playing with money, taking us little guys to the cleaner's. It's hard to make sense of the price action when technical AND fundamentals are pointing to one direction but the actual price goes the other.
Expected the unexpected
  • #65,710
  • May 13, 2008 11:37am May 13, 2008 11:37am
Quoting ciscoguy
I'm shorting after confirmation of the retracement completion at about 1.9525. SL: 1.9558 My first target is 1.9337. If it doesn't get to my levels, I'll sleep like a baby. Even if it does, the SL is tight enough for cofort.


C
i would agree with u but retracement with this pair went out with my shorts ...i starting to think its capable of anything at any time
  • #65,711
  • May 13, 2008 11:57am May 13, 2008 11:57am
Nav, I have yet to lose any serious money using fibs on Cable. I play for tight stops, and wait for a confirmation, on my 1 hour chart, of a turn around before placng the order. I like pinbars/shooting stars best, but will step out with a Hanging Man as long as i get a close below the body... If the price action moves too far from my stop loss before the confirmation, I take my ball and go home.

You are right. It is capable of anytyhing at any time. The nice thing about being with the trend is that even if I am stopped out, I get all of that money back when I re-enter at the correct price. When I used to enter counter-trend trades, like that dog I got into this morning, I'd get stuck and be frustrated... i lost a lot of money, and a lot of sleep. LOL


Regards,'
C

Quoting nAVIN2007
i would agree with u but retracement with this pair went out with my shorts ...i starting to think its capable of anything at any time
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  • #65,712
  • May 13, 2008 12:07pm May 13, 2008 12:07pm
Quoting ciscoguy
Nav, I have yet to lose any serious money using fibs on Cable. I play for tight stops, and wait for a confirmation, on my 1 hour chart, of a turn around before placng the order. I like pinbars/shooting stars best, but will step out with a Hanging Man as long as i get a close below the body... If the price action moves too far from my stop loss before the confirmation, I take my ball and go home.

You are right. It is capable of anytyhing at any time. The nice thing about being with the trend is that even if I am stopped out, I get all of that money back when I re-enter at the correct price. When I used to enter counter-trend trades, like that dog I got into this morning, I'd get stuck and be frustrated... i lost a lot of money, and a lot of sleep. LOL


Regards,'
C
thats all i take take away from this ....stay with trend, whenever i lose it always counter trend trade so i must stop doing this ..
i take your point but i really dont think that it going back down yet ......by morning this will make it way back to weekly pivot im sure or perhaps bounce of the 62 ema
  • #65,713
  • May 13, 2008 12:09pm May 13, 2008 12:09pm
Slow_k indicator shows oversold condition on 2-hour signaling a correction higher is in the near future. Plus, the pair bounced off the lower edge of the downtrend channel on the daily.
I expect retracement to be limited to the weekly central (1.9524) and in the worst case to the weekly pivot (1.9591) which coincides with the middle of that downtrend channel.
"Luxury is one of the basic needs", (c), Don Corleone
  • #65,714
  • May 13, 2008 12:26pm May 13, 2008 12:26pm
More UP baby !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,715
  • May 13, 2008 12:34pm May 13, 2008 12:34pm
Quoting manize
More UP baby !
bro how far up u looking for it to get ?
  • #65,716
  • May 13, 2008 12:59pm May 13, 2008 12:59pm
Quoting nAVIN2007
bro how far up u looking for it to get ?
At least 1.9550 ... but should not today ... may tomorrow till the end of the week ... Count me wrong under fundamental news !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,717
  • May 13, 2008 1:11pm May 13, 2008 1:11pm
Quoting roxxy23
RICS House prices from last night has been pushing it down. Also oil supply was cut in IRAQ driving euro & eur/gbp up

I estimate that it will reach 1.9600 by tomorrow though
4give my ignorance but i must ask y Iraq oil supply problem would drive euro up.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #65,718
  • May 13, 2008 1:19pm May 13, 2008 1:19pm
Closed my long for 21 pips pos at 1.9488.... This is ridiculous.. Not sure what to expect anymore
  • #65,719
  • May 13, 2008 1:20pm May 13, 2008 1:20pm
hello traders

i must point out that dollar strength shuold be taken into consideration and up till now we are seeing no signs of dollar backing down not even when benny talked

so if dollar happens to be truly on its way back up (due to inflation fears and the fact that US rate hikes are actually on the discussion table) might kill all currencies including cable

because i must admit they look like a great sell especially for the big boys

and we wouldnt want to be on the wrong side.

just a fundamental analysis on a LARGER time frame.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #65,720
  • May 13, 2008 1:29pm May 13, 2008 1:29pm
Quoting salah k.
hello traders

i must point out that dollar strength shuold be taken into consideration and up till now we are seeing no signs of dollar backing down not even when benny talked

so if dollar happens to be truly on its way back up (due to inflation fears and the fact that US rate hikes are actually on the discussion table) might kill all currencies including cable

because i must admit they look like a great sell especially for the big boys

and we wouldnt want to be on the wrong side.

just a fundamental analysis on a LARGER time frame.
Pffff, Benny can say all he likes these days, beyond the point of repair:

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