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Cable Update (GBPUSD)

  • #5,561
  • Feb 8, 2007 10:29am Feb 8, 2007 10:29am
Quoting positivepips
anyone notice that at 1030 am est to 1045 the directon changes and usually stays that way for rest of day? or just range trades from here on.

didn't i tell you to wait til after ten for a move. no exactly sure why it happens, but it happens a lot. maybe due to london fix, or maybe all the big boys have a meeting at ten am to decide where to the pound!! (and euro) if you have made you $ for the day, i would stay out for now and wait and see where this thing (GBP) closes.
"i wake up in the morning, and i piss excellence"
  • #5,562
  • Feb 8, 2007 10:31am Feb 8, 2007 10:31am
Quoting cesarnc
No offense taken, at all...

Big boys are the market movers and the squeeze is this big spike down and quick retrace. Good to trigger other people's stops and to trigger their own long orders at good price.

makes you wonder how much $ it takes to mave the market like that in their favor.
"i wake up in the morning, and i piss excellence"
  • #5,563
  • Feb 8, 2007 10:36am Feb 8, 2007 10:36am
eur/usd still going up and gbp staying the same levels, do u think is this a good place for a long?????
  • #5,564
  • Feb 8, 2007 11:17am Feb 8, 2007 11:17am
Sure, go ahead. I'll sell it to you. :-)
There's always money in the banana stand.
  • #5,565
  • Feb 8, 2007 11:43am Feb 8, 2007 11:43am
I am long cable as well. 1.9608 area (current area) is the key. If we build value and move above, I am looking for 9815, then 9958 then 2.0038.

Good luck all.
DRT


http://home.comcast.net/~downrivertr...D_2-8-2007.PNG
  • #5,566
  • Feb 8, 2007 12:28pm Feb 8, 2007 12:28pm
I still see today's move as excessive. Almost 200 pips down and it wasn't a dollar-related move. Euro is closing the day above yesterday's high. Both "no-hike"

If this is the beginning of a corrective move since the sisters were parted on the last GBP rate hike, then we may be in the verge of a biger fall yet to come.

Cable was the only among the majors to hit high levels compared to December 2006. Since them, Euro is trading well below 1.3100 (against 1.3200) and USDJPY is holding above 120 since early 2007.

The US market is being a non-player for a long time. Shows up to see what's being done of its currency and then retrace it, whatever the previous direction. Sometimes, not even that.

That's why I'm jumpping from bed at lousy 5:00 am(BRA) to catch the cheerful European open. I usually profit my target before my wife wakes up and sometimes I am dumb enough to throw it away on overtrading throughout the day . Gotta stop this....

Friday usually sucks. I simply don't know what is going to happen tomorrow. But I would like to see a nice retracement out of today's move and the resumption of the up trend towards the high levels.

Next days are crucial to throw us a bone here.
  • #5,567
  • Feb 8, 2007 12:47pm Feb 8, 2007 12:47pm
We could move to London.

Hang in there. This can't last forever. Sooner or later the spring will uncoil and when it does you can sleep thru the night.

Does your wife say...."Honey are you okay?" like mine. hehe.

DRT

Quoting cesarnc
I still see today's move as excessive. Almost 200 pips down and it wasn't a dollar-related move. Euro is closing the day above yesterday's high. Both "no-hike"

If this is the beginning of a corrective move since the sisters were parted on the last GBP rate hike, then we may be in the verge of a biger fall yet to come.

Cable was the only among the majors to hit high levels compared to December 2006. Since them, Euro is trading well below 1.3100 (against 1.3200) and USDJPY is holding above 120 since early 2007.

The US market is being a non-player for a long time. Shows up to see what's being done of its currency and then retrace it, whatever the previous direction. Sometimes, not even that.

That's why I'm jumpping from bed at lousy 5:00 am(BRA) to catch the cheerful European open. I usually profit my target before my wife wakes up and sometimes I am dumb enough to throw it away on overtrading throughout the day . Gotta stop this....

Friday usually sucks. I simply don't know what is going to happen tomorrow. But I would like to see a nice retracement out of today's move and the resumption of the up trend towards the high levels.

Next days are crucial to throw us a bone here.
  • #5,568
  • Feb 8, 2007 1:31pm Feb 8, 2007 1:31pm
Mine wife just said she's going to divorce me for "staying up all night and clicking on that damn computer!" HA! She always wants to know if I'm making "fake money" or "real money"...Hmmmmmmmmmmm......... "Fake" is the right answer, right?

Anyways, I have no clue what will happen next but I would suspect a retracement to the 1.9600 level or beyond. I haven't done the math yet but will be working on it....after some SLEEP! See you all tonight..or at least some of you!
Show me the PIPS!
  • #5,569
  • Feb 8, 2007 1:38pm Feb 8, 2007 1:38pm
Quoting tathlynq
Mine wife just said she's going to divorce me for "staying up all night and clicking on that damn computer!" HA! She always wants to know if I'm making "fake money" or "real money"...Hmmmmmmmmmmm......... "Fake" is the right answer, right?
  • #5,570
  • Feb 8, 2007 3:05pm Feb 8, 2007 3:05pm
Quoting tathlynq
Mine wife just said she's going to divorce me for "staying up all night and clicking on that damn computer!" HA! She always wants to know if I'm making "fake money" or "real money"...Hmmmmmmmmmmm......... "Fake" is the right answer, right?
Ohhh.. you're fine then... Mine cannot believe my several hours in the computer are not porn-related.

Well, not ALL of these hours
  • #5,571
  • Feb 8, 2007 3:08pm Feb 8, 2007 3:08pm
Quoting DownRiverTrader
We could move to London.

Hang in there. This can't last forever. Sooner or later the spring will uncoil and when it does you can sleep thru the night.

Does your wife say...."Honey are you okay?" like mine. hehe.

DRT
No way going to London, I heard the news today. Trading this Beast AND freezing my arse off at the same time? No way....
  • #5,572
  • Feb 8, 2007 3:11pm Feb 8, 2007 3:11pm
Check this out:

Last time we saw this 4hr candle pattern was in the first week, this year. We have two other selloffs after that...

Just to keep aware of it...

  • #5,573
  • Feb 8, 2007 3:19pm Feb 8, 2007 3:19pm
Did you mean to post something with this??

Quoting cesarnc
Check this out:

Last time we saw this 4hr candle pattern was in the first week, this year. We have two other selloffs after that...

Just to keep aware of it...

  • #5,574
  • Feb 8, 2007 3:21pm Feb 8, 2007 3:21pm
Quoting DownRiverTrader
I am long cable as well. 1.9608 area (current area) is the key. If we build value and move above, I am looking for 9815, then 9958 then 2.0038.

Good luck all.
DRT


http://home.comcast.net/~downrivertr...D_2-8-2007.PNG
I aim your zone -2 (1.9250-19200)... but not an advice.... i'm a long term player.....
regards.
  • #5,575
  • Feb 8, 2007 3:31pm Feb 8, 2007 3:31pm
Quoting DownRiverTrader
Did you mean to post something with this??
This is what I meant:

It's not a signal at all. But the 4hr indicators has a lot of fuel to go further down. And the daily is just starting to point down

http://i2.photobucket.com/albums/y28/cesarnc/feb8-4.jpg
  • #5,576
  • Feb 8, 2007 3:45pm Feb 8, 2007 3:45pm
Nice chart. When I look at your chart..... I see an uptrend

I do not ever look at indcators. They are totally worthless and for the lazy.

That's why they call it fishing and not catching I guess.
  • #5,577
  • Feb 8, 2007 3:47pm Feb 8, 2007 3:47pm
Downward start if break 1.9530 then 1.9485
  • #5,578
  • Feb 8, 2007 3:57pm Feb 8, 2007 3:57pm
Quoting DownRiverTrader
Nice chart. When I look at your chart..... I see an uptrend

I do not ever look at indcators. They are totally worthless and for the lazy.

That's why they call it fishing and not catching I guess.
I'm on the uptrend, too. But on this 4hr candle pattern another spike down are still in the cards.

And indeed, only a clear break of 9500 / 9480 would open the room a short/medium term downtrend...

On the indicators, I use them to back me up when too close to important trendlines. RSI seems to work quite well. Most of the time when it breaks 40 and 60 price continues. And quick turnarounds usually takes place at 40 and 60... Just a back up though... I'm trying to get rid of them, but I just can't
  • #5,579
  • Feb 8, 2007 4:03pm Feb 8, 2007 4:03pm
Quoting cesarnc
I'm on the uptrend, too. But on this 4hr candle pattern another spike down are still in the cards.

And indeed, only a clear break of 9500 / 9480 would open the room a short/medium term downtrend...

On the indicators, I use them to back me up when too close to important trendlines. RSI seems to work quite well. Most of the time when it breaks 40 and 60 price continues. And quick turnarounds usually takes place at 40 and 60... Just a back up though... I'm trying to get rid of them, but I just can't
Yes i think downward too ...

for upward we need reason after they didn't change Interest rate , now traders made some sell ....
  • #5,580
  • Feb 8, 2007 4:54pm Feb 8, 2007 4:54pm
Seems to give a reason why the huge downmove today. From FXCM - www.dailyfx.com FXCM - DailyFX Fundamentals 02-08-07

US Dollar
Even though there was no US data to drive market activity today, there was quite a bit of interesting price action. The main event was the press conference after the ECB meeting. Interest rates were left unchanged, but as soon as the words “strong vigilance” came out of Trichet’s mouth, the ECB’s hawkish bias was set and bullishness was instilled in the Euro. The behavior in the British pound however was very different. The currency collapsed after the Bank of England left interest rates unchanged. It appears that more than a small minority may have been expecting an interest rate hike.

British Pound
The Bank of England’s decision to leave interest rates unchanged triggered a major sell-off in the British pound against the US dollar, Euro and Japanese Yen. The most interesting aspect of today’s move is the fact that trader positioning was so misaligned with analyst expectations. Given the narrow vote that supported the last rate hike, there was little chance for a follow-up move today. However the sharp divergence between UK and Eurozone monetary policy has earned EUR/GBP the status as the day’s most market moving currency pair on a percentage basis. The sell-off in the GBP/USD was exacerbated by a report from the Wall Street Journal that UK based HSBC was forced to set aside 20 percent more capital (most likely in US dollars) to cover the delinquencies in the US sub prime mortgage market. The fear that HSBC will struggle to recover from this has sent the company’s shares down to an 8 month low. However the blowup in the sub prime market has even greater significance. We are sure that HSBC, who is the world’s third largest bank, is not the only ones to suffer from the growing delinquencies in the US sub-prime lending market. If this problem exacerbates, it may be the first sign that the US economy is in trouble. The UK trade balance is due for release tomorrow and the strong level of the pound could push the deficit higher.
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