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Cable Update (GBPUSD)

  • #75,301
  • Jul 9, 2008 6:31pm Jul 9, 2008 6:31pm
Quoting MMDealer
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.
No, not a leading indicator at all. Just TL's I see.
  • #75,302
  • Jul 9, 2008 6:37pm Jul 9, 2008 6:37pm
Yep GU and UJ can move in the same direction, reason being there are issues with the gbp or jpy side and it's not the USD side which is moving the market.

And sometimes, someones just dumping a large position, but........

If the UJ and GU and mirroring each other nicely and the UJ shoots up and breaks my SMA points the odds are the GU will move shortly in the opposite direction, and vice versa.

This is a major part of my trading plan, if UJ is tanking badly then I won't try to pick a top of a range on the GU, and UJ does normally trend better than GU so its easier to see that way around.

But this is where it gets complicated No wonders it's took me for ever for my own system to start to become second nature!! NOTHING has a higher hit rate though
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #75,303
  • Jul 9, 2008 6:39pm Jul 9, 2008 6:39pm
Sweet as a nut. Whats your reasoning behind 1.9700 clouds?

I was thinking it might run outta steam a little before then, however given MPC tonight and an oil driven rally, we should see some significant profit taking over asia. Hopefully thats the case anyway!
"If it bleeds ... we can kill it"
  • #75,304
  • Jul 9, 2008 6:52pm Jul 9, 2008 6:52pm
Quoting MMDealer
Sweet as a nut. Whats your reasoning behind 1.9700 clouds?

I was thinking it might run outta steam a little before then, however given MPC tonight and an oil driven rally, we should see some significant profit taking over asia. Hopefully thats the case anyway!
This, but it is in up trend, so ill move SL or watch it
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  • #75,305
  • Jul 9, 2008 7:40pm Jul 9, 2008 7:40pm
Quoting LuckyLurker
ive really got no target set.. just kinda watching it.
just closed it.. +15 was really all I expected.. was scalping with low risk..could go lower though.. I just wanted a little fun scalp is all.. a quick 300 equity.. also wanted that extra 300 I missed out on from todays 2200.. lol greed is good 50% of the time!
USD Est Non Mortuus
  • #75,306
  • Jul 9, 2008 7:53pm Jul 9, 2008 7:53pm
Nice, I considered the same scalp, woulda made up for 1/2 of tuesday loss!!



Loads of RED news, MPC news coming at any time in the am which will likely slow proceeding until thats done and dusted, stick to EU / UJ until thats out the way is my advice.

Hope I'm around enough to spot some setups, DO NOT want a down week, got Friday to!!! COME ON!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #75,307
  • Jul 9, 2008 7:58pm Jul 9, 2008 7:58pm
i might look to buy gbp around 85.. depends.
USD Est Non Mortuus
  • #75,308
  • Jul 9, 2008 8:41pm Jul 9, 2008 8:41pm
Quoting LuckyLurker
i might look to buy gbp around 85.. depends.
AH I think this trend continues now. Bought gbp @ 9813
USD Est Non Mortuus
  • #75,309
  • Jul 9, 2008 11:41pm Jul 9, 2008 11:41pm
why this area so special?
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  • #75,310
  • Jul 10, 2008 12:00am Jul 10, 2008 12:00am
Quoting Clouds
why this area so special?
Not sure, but I am waiting for a slight drop below this. Looking for a buy. Not sure if it going to happen though.

No trades on at the moment. Happy trading all.
  • #75,311
  • Jul 10, 2008 12:05am Jul 10, 2008 12:05am
Quoting Clouds
why this area so special?
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Tell us why? Some of us may not know exactly why. To me, I'd say it's not saying anything. I maybe wrong. What do you and other traders think?
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  • #75,312
  • Jul 10, 2008 12:07am Jul 10, 2008 12:07am
Quoting DJ4x
Not sure, but I am waiting for a slight drop below this. Looking for a buy. Not sure if it going to happen though.

No trades on at the moment. Happy trading all.
im not sure either, maybe stuck between pivots or something, im just selling, may buy depending on where it ends up
  • #75,313
  • Jul 10, 2008 1:13am Jul 10, 2008 1:13am
looks like down first.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #75,314
  • Jul 10, 2008 1:27am Jul 10, 2008 1:27am
Quoting allserene
If that's so then my apologies but you must admit that it's a classic 419 tactic to peel individuals off on public forums and take them aside with PM's and ask for 'a favour'. Every public forum and dating site in the world is stalked by the 419 scammers from Lagos

Hope you don't mind me alerting folk to that possiblity - so long as the favour does not include bank accounts details and passing funds to anyone for any reason, then I am sure people will be willing to consider some help.

It must be tough reaching out to people as a Nigerian because the 419 scams are so big, but I hope you will allow the rest of the world to be cautious without being too upset because of the history of 419 activity

I am British, living in the U.S. I am white and 60, and twice I have had it said to me 'you are probably a terrorist' - It's on people's minds so it has to be expected
first of all issues like this make me sick. its a terrible thing that my home country is full of scammers. and this 419 thing that started as a street slang will soon find its way into dictionaries. no thanks to Nigeria. am still proud of my country though and more interestingly, av lived most of my life in lagos. everywhere in the world you get good people and you get bad people. i remeber i once talked to a Briton (not to slight you allsrene) who wanted to do business. i was taken back a bit since i told him i was a nigerian and he was still interested in sending me his goods on a buy now pay later scheme. reluctantly i accepted his offer and he sent me his price list. he put a link in the mail and i was requested to click the link only to find my pc infected with spyware. it took me close to two weeks to get my pc and internet back into order and a friend said he was probably trying to hack into my system. i wouldn't know why he would do that anyway. you need not be scared about Nigerian scammers at all cos they even scam fellow nigerians. just try to give the benefit of doubt and trust everybody with your EYES WIDE OPEN so you do not fall into a trap.

Happy Trading.
  • #75,315
  • Jul 10, 2008 1:34am Jul 10, 2008 1:34am
Quoting LuckyLurker
i might look to buy gbp around 85.. depends.
Hmmm.. ATM price appears to have done a dip and turn down to 19783 and back, presumably on the way to higher highs and making ~19785 a very good entry.

My question: How did you pick that number??
Darkness lies one inch ahead..
  • #75,316
  • Jul 10, 2008 1:49am Jul 10, 2008 1:49am
crazy things are happening right now. waiting for a break of 9795-9814 (key price levels on 4H and 1H) range to buy and a break below the day's low for sell
  • #75,317
  • Jul 10, 2008 1:59am Jul 10, 2008 1:59am
Boy do I need to wake up.. Maybe I'll be on full alert before this bad boy takes off.
Don't Get Bitter, Get Better
  • #75,318
  • Jul 10, 2008 2:02am Jul 10, 2008 2:02am
When life gives you lemons, make lemonade
  • #75,319
  • Jul 10, 2008 2:03am Jul 10, 2008 2:03am
presently, we are trying to take out s many stops as possible before we allow Cable go in its desired direction.
  • #75,320
  • Jul 10, 2008 2:04am Jul 10, 2008 2:04am
Quoting Clouds
why this area so special?
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This area is between the Monthly/Daily (1.9771/1.9783) and Weekly (1.9875) Pivots.
Trade the reaction, not the news!
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