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Cable Update (GBPUSD)

  • #69,061
  • Jun 4, 2008 5:26am Jun 4, 2008 5:26am
but I think better focus on the price.lol
  • #69,062
  • Jun 4, 2008 5:26am Jun 4, 2008 5:26am
Quoting MasAdhi
I do not know about you guyz but the most powerfull methode to trade is USE YOUR OWN BRAIN........
Good advice
  • #69,063
  • Jun 4, 2008 5:28am Jun 4, 2008 5:28am
Quoting TheDirtySerb
Thought this was Cable Update (GBPUSD) thread. Turns out the last number of posts suggest this is the "The story of my Daddy is better than your Daddy - fundamentals vs technicals" thread.

So funny to me that people still debate this stuff. Just for the record I'll say you're all correct. And also let me say, who cares how you trade as long as you trade and are successfully banking pips. Fundamentals drive markets - technicals display price action into a nice pretty picture. Trade it however you want to.

Now, what do you guys think of Cable back to upside around 9600-9615?
i think it will go up to 9610-9650
  • #69,064
  • Jun 4, 2008 5:32am Jun 4, 2008 5:32am
Ldn FX: Cable Breaks Below $1.96 On Strong Stg Sales Vs Aussie Jun 04 / 06:30


LONDON, June 4 (MNI) - Strong sales of sterling for Australian
dollars were cited for cable's early Europe break below $1.9600, with
release of weaker-than-expected UK CIPS services data adding further
weight to take it to lows of $1.9536.

Euro-sterling reflected the pressure on the pound as this rate
extended its recovery off Tuesday's lows of stg0.7856 to stg0.7918.

STERLING SUMMARY: Opened early Europe at $1.9620, stg0.7877
-- Opened in Asia at $1.9620, the rate remaining buoyed above reported
support at $1.9600, which had kept rate supported during the previous
two sessions. Rate initially eased to a session low of $1.9614
before lifting it to $1.9638, but it eased back into the
European open. Euro-sterling consolidated between stg0.7867/77 in
Asia, after pulling back from stg0.79415 to stg0.7856 Tuesday.
Sterling came under strong selling pressure in early Europe which
punched cable through $1.9600, touching an early low of $1.9570.
Sales were reportedly linked to sterling-Aussie selling, with
suggestions of UK BG's bid attempt for Australia's Origin Energy back
on track. Sterling remained under pressure through the morning,
euro-sterling breaking back above stg0.7900, lifting on to stg0.7918
on release of weak UK CIPS services data. Cable extended lows to
$1.9536, but the pound was holding off worst levels ahead of the NY
open.
-- Cable bids $1.9520, $1.9500-1.9480. Offers $1.9580/85, $1.9600.
-- Euro-sterling bids stg0.7900, 0.7880. Offers stg0.7920, stg0.7940/45.
Trading is 80% Emotional, 20% Technical
  • #69,065
  • Jun 4, 2008 5:56am Jun 4, 2008 5:56am
Quoting tarektm
what i mean is technical comes first, then fundamental.
I agree with that too, why technical would be ahead of the fundamentals?
I'd say "expectations" build into the price is what make technical a leading indicator.
The only problem is that because price is based on "expectations", technicals can, and will at time, be too early and wrong...

That's why the best way to trade (especially trends), is when technicals and fundamentals are telling the same story and not diverging.
Getting it right is NOT as important as not getting it wrong.
  • #69,066
  • Jun 4, 2008 6:03am Jun 4, 2008 6:03am
OK guys, this is the wrong thread for this fundamental/technical discussion.

Let's keep it on topic here...


Seems we are looking at going long now we have seem to hit the 95.50 resistance and cable seems to be bouncing up from there, hopefully the ADP will be bad and should see a further boost in cable.
  • #69,067
  • Jun 4, 2008 6:31am Jun 4, 2008 6:31am
Quoting James Cole
OK guys, this is the wrong thread for this fundamental/technical discussion.

Let's keep it on topic here...


Seems we are looking at going long now we have seem to hit the 95.50 resistance and cable seems to be bouncing up from there, hopefully the ADP will be bad and should see a further boost in cable.
I think you meant support and not resistance...

Come on, it's not like all messages in this thread are only GBPUSD related, just relax people, trading is boring enough...

Now for cable action, I would say trend is still down until the bulls can take back the 1.9742 high.

If the breakdown is not genuine and the market follow the previous days action, then we'll see at least 1.9694 before the US close.
Getting it right is NOT as important as not getting it wrong.
  • #69,068
  • Jun 4, 2008 6:45am Jun 4, 2008 6:45am
If I Go Broke Trying Then I Will die happy.
  • #69,069
  • Jun 4, 2008 6:45am Jun 4, 2008 6:45am
I would say trend is down as well, but we gotta wait and see guys. Patience!
  • #69,070
  • Jun 4, 2008 6:52am Jun 4, 2008 6:52am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting forexmoments
I would say trend is down as well, but we gotta wait and see guys. Patience!
Agreed trend is down. You know what that means...trend will be up shortly. That just seems to be the pattern lately...lol. Anyways good luck to everyone trading. I'm in at 1.9580 shooting for 1.9648, and will close position with a close below 1.9534.
"Wishful thinking dies hard." Igor T.
  • #69,071
  • Jun 4, 2008 6:52am Jun 4, 2008 6:52am
Quoting B@by trader
when fundamental technical...
the winner is.............
trader..ahahahahahaha
yep, isnt the saying money talks bullshit walks....
Trading is 80% Emotional, 20% Technical
  • #69,072
  • Jun 4, 2008 7:00am Jun 4, 2008 7:00am
ADP in 15 minutes
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,073
  • Jun 4, 2008 7:12am Jun 4, 2008 7:12am
Quoting FxChi
Agreed trend is down. You know what that means...trend will be up shortly. That just seems to be the pattern lately...lol. Anyways good luck to everyone trading. I'm in at 1.9580 shooting for 1.9648, and will close position with a close below 1.9534.
In @ 1.9574 Target 1.9659 Stop 1.9535

Good Luck.
Enlightened.
  • #69,074
  • Jun 4, 2008 7:16am Jun 4, 2008 7:16am
Quoting salah k.
ADP in 15 minutes
wow came in +40 vs -30k expected
Trading is 80% Emotional, 20% Technical
  • #69,075
  • Jun 4, 2008 7:18am Jun 4, 2008 7:18am
Quoting fx local
wow came in +40 vs -70k expected
unbelievable !!!!
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #69,076
  • Jun 4, 2008 7:28am Jun 4, 2008 7:28am
Quoting salah k.
unbelievable !!!!
so do they.. and the others.. can't believe it.. and perhaps that's why this pair got a stalemate..

can't break lower.. neither up..
  • #69,077
  • Jun 4, 2008 7:28am Jun 4, 2008 7:28am
Quoting Moe
wow moe's back.......welcome............
Keep Learning and you'll get what you want...
  • #69,078
  • Jun 4, 2008 7:29am Jun 4, 2008 7:29am
Quoting Galeforce 10
In @ 1.9574 Target 1.9659 Stop 1.9535

Good Luck.
I closed my position with a small loss, -22 pips. ADP was not what I predicted.

Will be looking for a better entry long as price drifts lower.
Enlightened.
  • #69,079
  • Jun 4, 2008 7:29am Jun 4, 2008 7:29am
Quoting MasAdhi
wow moe's back.......welcome............
somthing wrong with my gadget?
Keep Learning and you'll get what you want...
  • #69,080
  • Jun 4, 2008 7:29am Jun 4, 2008 7:29am
short take care
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