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Cable Update (GBPUSD)

  • #75,281
  • Jul 9, 2008 2:23pm Jul 9, 2008 2:23pm
Quoting nAVIN2007
good analysis !
Thanks..
Patience + Discipline - Greed = Success
  • #75,282
  • Jul 9, 2008 2:29pm Jul 9, 2008 2:29pm
Quoting Infinity
I don't trade this pair but looking at the chart, I see that it has been making lower highs and lower lows in a downward channel. It could go to the top of the channel based on yesterday's candle but if the today closes like this, it may go down..

Hope this helps but remember, I don't normally trade this pair.
thats good but if you start posting about other pairs, it will encourage other people to do the same, only problem with that is.............THIS IS THE CABLE ROOM!!!!!!!!!..........plz do it elsewhere, thanks.


  • #75,283
  • Jul 9, 2008 2:34pm Jul 9, 2008 2:34pm
Quoting AmeriTrini
thats good but if you start posting about other pairs, it will encourage other people to do the same, only problem with that is.............THIS IS THE CABLE ROOM!!!!!!!!!..........plz do it elsewhere, thanks.


I know I know..... I was just responding to Navin's question. I apologize to all on the board...
Patience + Discipline - Greed = Success
  • #75,284
  • Jul 9, 2008 3:38pm Jul 9, 2008 3:38pm
My advise is to buy the dips I see a test of 2 again.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #75,285
  • Jul 9, 2008 3:45pm Jul 9, 2008 3:45pm
Quoting Bones
My advise is to buy the dips I see a test of 2 again.
I like your style Tone!!!!!!

  • #75,286
  • Jul 9, 2008 3:57pm Jul 9, 2008 3:57pm
Nice fork setting up on the 1hr.
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  • #75,287
  • Jul 9, 2008 4:53pm Jul 9, 2008 4:53pm
Hey thanks J

Quoting AmeriTrini
I like your style Tone!!!!!!

On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #75,288
  • Jul 9, 2008 5:06pm Jul 9, 2008 5:06pm
Quoting LuckyLurker
still holding longs from 9687 and 9713. Will see a test of 9870 hopefuly.
Closed em both a few minutes ago 9830.. ill wait for another entry soon. They did not quite get there, but decent gains today.
USD Est Non Mortuus
  • #75,289
  • Jul 9, 2008 5:25pm Jul 9, 2008 5:25pm
just popped a little short scalp here for fun @ 9825.. risk is set very low. . tp 9790
USD Est Non Mortuus
  • #75,290
  • Jul 9, 2008 5:33pm Jul 9, 2008 5:33pm
shohuld we short it?
  • #75,291
  • Jul 9, 2008 5:34pm Jul 9, 2008 5:34pm
Quoting LuckyLurker
just popped a little short scalp here for fun @ 9825.. risk is set very low. . tp 9790
how about 9700 ? But i scared to short it and close my long trades. Hmm.
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  • #75,292
  • Jul 9, 2008 5:36pm Jul 9, 2008 5:36pm
ive really got no target set.. just kinda watching it.
USD Est Non Mortuus
  • #75,293
  • Jul 9, 2008 5:37pm Jul 9, 2008 5:37pm
80/90 Should be a reasonable target.
"If it bleeds ... we can kill it"
  • #75,294
  • Jul 9, 2008 5:39pm Jul 9, 2008 5:39pm
Quoting LuckyLurker
ive really got no target set.. just kinda watching it.
Im short, ok, let's go!
  • #75,295
  • Jul 9, 2008 6:00pm Jul 9, 2008 6:00pm
If you are shorting, remember you are trading a retracement, not the current trend. It's a good time to get familair with the fibonnaci retracement tool!
  • #75,296
  • Jul 9, 2008 6:02pm Jul 9, 2008 6:02pm
TP 9700, and then i buy. : )
  • #75,297
  • Jul 9, 2008 6:13pm Jul 9, 2008 6:13pm
my reasoning for going short, is im long ej, and see uj rallying, bringing gu down, low risk, and i closed my longs, and dont want go long, so.....
  • #75,298
  • Jul 9, 2008 6:16pm Jul 9, 2008 6:16pm
Quoting Clouds
my reasoning for going short, is im long ej, and see uj rallying, bringing gu down, low risk, and i closed my longs, and dont want go long, so.....
Your reasoning is a self induced one, not pointing a finger or bashing, but the crosses follow the strength of the major pairs, not the other way around.
  • #75,299
  • Jul 9, 2008 6:20pm Jul 9, 2008 6:20pm
Quoting DollaBill
Your reasoning is a self induced one, not pointing a finger or bashing, but the crosses follow the strength of the major pairs, not the other way around.
Sometimes, but many times UJ and GU are opposite correlation, Dollars based. Selling dollars, ,buying dollars, and yes EU can go down, while EJ goes up, because UJ can move 2% (70 pips) while EU moves 1% (70 pips), and yes it's self-induced, i suppose, sorry about that
  • #75,300
  • Jul 9, 2008 6:29pm Jul 9, 2008 6:29pm
Quoting DollaBill
Your reasoning is a self induced one, not pointing a finger or bashing, but the crosses follow the strength of the major pairs, not the other way around.

Exactly - the cross price is a direct derivative of the Majors - so movement in a cross can not be a leading indicator for a major pair.
"If it bleeds ... we can kill it"
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