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Cable Update (GBPUSD)

  • #78,601
  • Jul 29, 2008 11:37am Jul 29, 2008 11:37am
Time for my mid afternoon cocktail by the pool. We will see some zzz now till 2pm or so.. I'll be back.
USD Est Non Mortuus
  • #78,602
  • Jul 29, 2008 11:43am Jul 29, 2008 11:43am
I lived in safety harbor FL up to April so snoozing by the water is one of my accomplishments - think I will go to the State liquor store (only legal place to buy firewater in Washington State - it's to stop them injuns buying it), and get some g and t

cable is already drunk and snoozing so it's limbo land for now
  • #78,603
  • Jul 29, 2008 11:49am Jul 29, 2008 11:49am
I think it is time for a long now. In at 1.9800
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  • #78,604
  • Jul 29, 2008 11:53am Jul 29, 2008 11:53am
Quoting Runway Trade
I think it is time for a long now. In at 1.9800

be very carefull with these longs bro...this is looking very dangerous for long .
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  • #78,605
  • Edited 11:58am Jul 29, 2008 11:56am | Edited 11:58am
This move today was exactly why I was flat last night going into this morning. The daily closed bullish but the 4h was bearish. I got some of the move down and got out with 50 pips profit. I stopped and reversed my trade at 9795 and hoping to get another 50 or so.... I think we should see 9850 by tomorrow....then possibly more downside after that.
Patience + Discipline - Greed = Success
  • #78,606
  • Jul 29, 2008 12:00pm Jul 29, 2008 12:00pm
9772 ish could be reached today as well before we see any retracement... I will add long there...
Patience + Discipline - Greed = Success
  • #78,607
  • Jul 29, 2008 12:01pm Jul 29, 2008 12:01pm
Quoting Infinity
This move today was exactly why I was flat last night going into this morning. The daily closed bullish but the 4h was bearish. I got some of the move down and got out with 50 pips profit. I stopped and reversed my trade at 9795 and hoping to get another 50 or so.... I think we should see 9850 by tomorrow....then possibly more downside after that.
i wish it hit 2.0 then fell...this is looking like its going to fall tomoorow likely to be bearish...probably to test the upchannel trend line and fall..

i havent traded this week cause my pending order keep being missed but with non farm around im not so sure thats a bad thing..
  • #78,608
  • Jul 29, 2008 12:05pm Jul 29, 2008 12:05pm
Quoting Infinity
This move today was exactly why I was flat last night going into this morning. The daily closed bullish but the 4h was bearish. I got some of the move down and got out with 50 pips profit. I stopped and reversed my trade at 9795 and hoping to get another 50 or so.... I think we should see 9850 by tomorrow....then possibly more downside after that.
I agree 100% - just a little niggle at the back of my mind, that I thought we were dropped out of the daily channel since may 13, but the more I stare at my charts the more I think we are near enough the bottom line and that is worrying

If we are trading oil, then yes this is so dangerous just here

Everyone always says it is the decision point blah blah, but this really is..

Bottom of the daily channel and everything tied to oil ? it's as dangerous as something really dangerous that is being more dangerous than usual
  • #78,609
  • Jul 29, 2008 12:07pm Jul 29, 2008 12:07pm
Quoting nAVIN2007
be very carefull with these longs bro...this is looking very dangerous for long .
bloomberg reports US housing price still in decline. On South African bus News expecting strength in Gold price and Crude will still decline or stay at these levels. So for me USD had its little run today and now its time is over.
and my TP is only 1.9860. If it drops further Ill just buy more. Why do you think its going down?
  • #78,610
  • Jul 29, 2008 12:11pm Jul 29, 2008 12:11pm
Ignore question your chart just took time to download......

could be bounching of the 365
  • #78,611
  • Jul 29, 2008 12:11pm Jul 29, 2008 12:11pm
surely we did'nt all forget about this channel.....
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Patience + Discipline - Greed = Success
  • #78,612
  • Jul 29, 2008 12:15pm Jul 29, 2008 12:15pm
Quoting Infinity
surely we did'nt all forget about this channel.....
nice!
Just digging in the trenches like everyone else!
  • #78,613
  • Jul 29, 2008 12:20pm Jul 29, 2008 12:20pm
We did forget about the daily channel - well the hourly chart deterioration was persuasive and took my mind off the daily, but if daily is where it's at, then we are on the way to the moon....

If we stay with the hourly then we have to believe it will drop out of the daily channel and we are not supposed to believe that until it does. Daily trumps hourly - isn't this fun !

Even if it does drop out of the daily, I reckon there will be plenty of bounces on it's way down so I can afford a wide s/l

ok let's get some longs on...
  • #78,614
  • Jul 29, 2008 12:22pm Jul 29, 2008 12:22pm
Quoting allserene
We did forget about the daily channel - well the hourly chart deterioration was persuasive and took my mind off the daily, but if daily is where it's at, then we are on the way to the moon....

If we stay with the hourly then we have to believe it will drop out of the daily channel and we are not supposed to believe that until it does. Daily trumps hourly - isn't this fun !

Even if it does drop out of the daily, I reckon there will be plenty of bounces on it's way down so I can afford a wide s/l

ok let's get some longs on...
Patience + Discipline - Greed = Success
  • #78,615
  • Jul 29, 2008 12:25pm Jul 29, 2008 12:25pm
Quoting Runway Trade
bloomberg reports US housing price still in decline. On South African bus News expecting strength in Gold price and Crude will still decline or stay at these levels. So for me USD had its little run today and now its time is over.
and my TP is only 1.9860. If it drops further Ill just buy more. Why do you think its going down?
believe me whatever the impact there is on US ecomony..in UK it will be far worse, already utility bills are increased by 25% average in UK.people are struggling and if oil keep going up ...ecomony will be doomed.....US dollar will have to revive inorder for situation to improve.and this is what is happenning..

technically ..there is no way the charts are saying up! ..
people are talking about ABCD pattern which as far as im concerned only come into play once the high is taken out then neckline needs to break...otherwise all wishfull thinking 2.0150 area need to break ...then and only then can ABCD target be achieved
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  • #78,616
  • Jul 29, 2008 12:25pm Jul 29, 2008 12:25pm
Quoting Infinity
surely we did'nt all forget about this channel.....
I like it!!!
  • #78,617
  • Jul 29, 2008 12:37pm Jul 29, 2008 12:37pm
back.. and awake now.
USD Est Non Mortuus
  • #78,618
  • Jul 29, 2008 12:37pm Jul 29, 2008 12:37pm
Quoting allserene
We did forget about the daily channel - well the hourly chart deterioration was persuasive and took my mind off the daily, but if daily is where it's at, then we are on the way to the moon....

If we stay with the hourly then we have to believe it will drop out of the daily channel and we are not supposed to believe that until it does. Daily trumps hourly - isn't this fun !

Even if it does drop out of the daily, I reckon there will be plenty of bounces on it's way down so I can afford a wide s/l

ok let's get some longs on...
I'm getting my longs together on this end. I've moved my entry point up to 1.9770. Looking for a nice ride upward!
Just digging in the trenches like everyone else!
  • #78,619
  • Jul 29, 2008 12:39pm Jul 29, 2008 12:39pm
still holding shorts tp 1.9765
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #78,620
  • Jul 29, 2008 12:39pm Jul 29, 2008 12:39pm
and also looking at dollar index its in a uptrend ...meaning its only going to grow in strength....just be carefull guys .im out of market...cant trade and work...seems to be one or the other with me

this week focusing on work... for once
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luisinho