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Cable Update (GBPUSD)

  • #78,881
  • Jul 30, 2008 11:06am Jul 30, 2008 11:06am
Quoting nAVIN2007
it could go up or down ..this is a fundy week.....it might not happen this week we sink might be next month..this is what im thinking...

might be heading up a bit ...i looking to sell at 1.9950 if we can reach it..

dont forget end of the month
  • #78,882
  • Jul 30, 2008 11:08am Jul 30, 2008 11:08am
Quoting warta
dont forget end of the month
Oh so key point!
Just digging in the trenches like everyone else!
  • #78,883
  • Jul 30, 2008 11:09am Jul 30, 2008 11:09am
Quoting warta
dont forget end of the month
I do not want to sound to dumb but what effect does the end of the month have on currency and why?
Please ask questions and share your experiences with us all!
  • #78,884
  • Jul 30, 2008 11:11am Jul 30, 2008 11:11am
Quoting poweredbuyer
Why so quiet all of a sudden ya'll ... Im thinking a false spike due to OIL Inventories ...

Added more shorts at 9810 TP 9600 :-)
Don't get me wrong bro. I would love to see 9600. I'll buy the hell out of it then. For now, I see us retesting the 1.975x area and going back north to 1.986x.
Just digging in the trenches like everyone else!
  • #78,885
  • Jul 30, 2008 11:13am Jul 30, 2008 11:13am
Quoting bkg102665
I do not want to sound to dumb but what effect does the end of the month have on currency and why?
well always end of every month the market act in a crazy way with no direction and everything can be possible if u go back to the cable's history u will know what i mean exactly bro
  • #78,886
  • Jul 30, 2008 11:15am Jul 30, 2008 11:15am
Quoting warta
well always end of every month the market act in a crazy way with no direction and everything can be possible if u go back to the cable's history u will know what i mean exactly bro
Thanks for the info, I did not know if maybe banks dumped large amounts of money into the market or there was actually a reason behind the crazy moves.
Please ask questions and share your experiences with us all!
  • #78,887
  • Jul 30, 2008 11:21am Jul 30, 2008 11:21am
Quoting bkg102665
Thanks for the info, I did not know if maybe banks dumped large amounts of money into the market or there was actually a reason behind the crazy moves.
exactly ,so u have to take it easy and accept the way the market act
  • #78,888
  • Jul 30, 2008 11:22am Jul 30, 2008 11:22am
Quoting eohater
Don't get me wrong bro. I would love to see 9600. I'll buy the hell out of it then. For now, I see us retesting the 1.975x area and going back north to 1.986x.
i agree
  • #78,889
  • Jul 30, 2008 11:29am Jul 30, 2008 11:29am
Quoting nAVIN2007
i agree

hows u navin hope u r well bro

am eating popcorn hahah come share
  • #78,890
  • Jul 30, 2008 11:34am Jul 30, 2008 11:34am
Quoting gammase1
I disagree. You may remember in March there was the small matter of the Bear Stearns rescue on March 17th. In the weeks leading up to this rescue, the market was plagued with rumours of the demise of Bear Stearns (when interbank players started to refuse them as a counterparty and hedge funds took their business elsewhere) and the potential collapse of the US banking system.

The Fed then increased their liquidity scheme to cover broker dealers and engineered the forced sale of Bear Stearns to JP Morgan. After this point, a degree of calmness returned to the markets, credit spread narrowed, financial stocks and equities rallied AND the dollar appreciated, as investors believed that a meltdown of the financial system had been averted.

This has far, far more to do with cable spiking than electricity problems in SA.
One of the biggest gold producers in the world, yeh right!
  • #78,891
  • Jul 30, 2008 11:42am Jul 30, 2008 11:42am
DOW is coming off

reality returning

The euphorized are euthanized

euro is awakening

no 2 coffee time
  • #78,892
  • Jul 30, 2008 11:48am Jul 30, 2008 11:48am
Quoting Runway Trade
One of the biggest gold producers in the world, yeh right!
Of course, the power shortages would influence the price of gold.

However, what do you honestly believe caused the spike in cable in the middle of March a) the potential meltdown of the US banking system or b) supply problems in SA gold production??

What was the biggest global story of that time?
  • #78,893
  • Jul 30, 2008 11:52am Jul 30, 2008 11:52am
Gold is under selling pressure, falling 2.1% or $17.94, to $896.50 per ounce. Gold is down 15% from its all-time nominal high of $1033.90 that was reached in March, but is still up 28% from its August 2007 52-week low.

Mike Tysons teeth have just devalued by more than my house is worth
  • #78,894
  • Jul 30, 2008 11:55am Jul 30, 2008 11:55am
Oil : 124.60 - Up
Dow Jones : 11,444 - Down
  • #78,895
  • Jul 30, 2008 12:22pm Jul 30, 2008 12:22pm
hello?
Keep It Simple Stupid
  • #78,896
  • Jul 30, 2008 12:23pm Jul 30, 2008 12:23pm
Does anyone disagree?
Attached Image (click to enlarge)
Click to Enlarge Name: Picture 5.png Size: 33 KB
Money & Pain Respect the market, protect your capital, be patient
  • #78,897
  • Edited 12:42pm Jul 30, 2008 12:31pm | Edited 12:42pm
Quoting toyboy tramp
Does anyone disagree?
I think we are nearing the top of this run, but it's been kinda a crazy day.

I'm making money, but leaving a lot of pips on the table, better than losses though.

My thoughts are we've been in a bull run for about 5 hours now, it's getting into the later part of the U.S. session. I think we'll top out somewhere around 1.9840. Then it will either just hang around there or start dropping back down.

Of course, it could just blast right through that, in which case I'd be totally wrong...



Best trading wishes

G10
Enlightened.
  • #78,898
  • Jul 30, 2008 12:38pm Jul 30, 2008 12:38pm
Backing up my view, if you look at the chart a daily pin is forming at strong support/fib levels. I entered a position before waiting for confirmation, which would be tomorrow's daily breaking north of it, and am in green pips.

G10:What do you mean by top of the run?
Money & Pain Respect the market, protect your capital, be patient
  • #78,899
  • Jul 30, 2008 12:41pm Jul 30, 2008 12:41pm
I trust cable like I would trust Brittney as a baby sitter- so I am riding euro for a while - only up to 1.60 though !
  • #78,900
  • Jul 30, 2008 12:48pm Jul 30, 2008 12:48pm
http://img401.imageshack.us/img401/840/gurb4.th.jpg

Up trend ?
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