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Cable Update (GBPUSD)

  • #79,841
  • Aug 5, 2008 6:33am Aug 5, 2008 6:33am
Quoting salah k.
their inflation is getting out of hand because of their weak currency whereas euro currency is strong and able to fight the inflation going on in europe

by the way dont trust the numbers coming out
ask the people living in the US they will tell u wats really happening
i live in Orlando FL. i can tell you that things are def.. not the easiest in the states, i know people are struggling with high prices and such all over, especially in Florida ( where i live). however, i can also say that i dont see things down in the gutter like some people paint it... sure gas has increase and so other commodities but the ones that i mostly see affected is everyone thast got dirty involved with the real estate market. these are people who changed their life drastically in a matter of a few years and increase their spending lifestyle like crazy. now they are trying to sell their hummers for the same price that my wife sold her toyota scion. Fortunally i made "some" smart decisions with the past boom. I'm only 26, this is the first time being aware of an economic crisis..
  • #79,842
  • Aug 5, 2008 6:33am Aug 5, 2008 6:33am
Quoting Abuawad
1.9445 i'll close 75% from the open positions, and hold the 25% to 1.9400 and after that watch cable and hunting the rigth point to enter the long to 2.0150 & 2.0250
There are 100 more pips to fall yet? You sure? Looking very oversold and over-extended already.
Expected the unexpected
  • #79,843
  • Aug 5, 2008 6:36am Aug 5, 2008 6:36am
Quoting scyang
There are 100 more pips to fall yet? You sure? Looking very oversold and over-extended already.
this my thinking, don't place order depend on it... i'm taking that risk.
  • #79,844
  • Aug 5, 2008 6:44am Aug 5, 2008 6:44am
Aaaah I hate red......
Good trading Abuawad
  • #79,845
  • Aug 5, 2008 6:46am Aug 5, 2008 6:46am
Quoting Manny
i live in Orlando FL. i can tell you that things are def.. not the easiest in the states, i know people are struggling with high prices and such all over, especially in Florida ( where i live). however, i can also say that i dont see things down in the gutter like some people paint it... sure gas has increase and so other commodities but the ones that i mostly see affected is everyone thast got dirty involved with the real estate market. these are people who changed their life drastically in a matter of a few years and increase their spending lifestyle like crazy. now they are trying to sell their hummers for the same price that my wife sold her toyota scion. Fortunally i made "some" smart decisions with the past boom. I'm only 26, this is the first time being aware of an economic crisis..
congrats man on ur smart decision really
but wen u say life i tough onthe people with real estate issues u are practically saying life is tough on 80% of the people in USA right?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #79,846
  • Aug 5, 2008 6:49am Aug 5, 2008 6:49am
Quoting Ulterior
Well, I would better ask EUROPEANS why it is cheaper for them, to fly to USA on weekdays for shopping.

maybe because of the drastic difference between euro and dollar
everything abroad would look cheaper but everything within would look of the same price or slightly higher

i mean euro has flown from 1.20 to 1.60 in a year
have the prices risen within the same % ?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #79,847
  • Aug 5, 2008 6:51am Aug 5, 2008 6:51am
Quoting VishalJ
This baseless $ based strength is going to go on till FOMC.. after that, maybe it will get whacked.
Just like on the Euro/US, is oversold on all timeframes below the daily, but trading has seemed to be based more on equities and oil lately. Dow futures are up over 80 points and oil is below $120. Both are good signs for USD strength.
  • #79,848
  • Aug 5, 2008 6:53am Aug 5, 2008 6:53am
Quoting salah k.
maybe because of the drastic difference between euro and dollar
everything abroad would look cheaper but everything within would look of the same price or slightly higher

i mean euro has flown from 1.20 to 1.60 in a year
have the prices risen within the same % ?

Here in EU, Even MORE Europe is NOT indigenous - member states has their own inflation. Lithuania, Latvia for example faces about 14% inflation. Some comoditie and food prices prices increased even more than 60%
  • #79,849
  • Aug 5, 2008 6:53am Aug 5, 2008 6:53am
good morning all. wow one hell of a shakeout.. buying more soon.
USD Est Non Mortuus
  • #79,850
  • Aug 5, 2008 6:55am Aug 5, 2008 6:55am
Quoting salah k.
congrats man on ur smart decision really
but wen u say life i tough onthe people with real estate issues u are practically saying life is tough on 80% of the people in USA right?
I think the individuals Manny's referring to are the ones who continually took out and refinanced their home equity loans to the max they could borrow as their home values increased through the roof. When the bubble burst they were left way upside down and with a mortgage they could no longer afford. I've seen a lot of the same thing where I own a rental home in Arizona. I think anyone who bought their homes before 2001 should be fine. Unless of course they took out all of the equity in their homes when they were over valued. I think the percentage of Americans effected by that situation should be well under 10%.
  • #79,851
  • Aug 5, 2008 6:57am Aug 5, 2008 6:57am
Quoting LuckyLurker
good morning all. wow one hell of a shakeout.. buying more soon.
Hey Lucky........
I'm still holding my longs, but not going to enter again till after news....
  • #79,852
  • Aug 5, 2008 6:57am Aug 5, 2008 6:57am
Quoting Abuawad
this my thinking, don't place order depend on it... i'm taking that risk.
Not entering any position right now. You got trailing stop or something in case it retraces big? Don't want to give away the profit you already have.
Expected the unexpected
  • #79,853
  • Aug 5, 2008 6:59am Aug 5, 2008 6:59am
Quoting DJ4x
Hey Lucky........
I'm still holding my longs, but not going to enter again till after news....
yea me either.. levels looking sweet though.
USD Est Non Mortuus
  • #79,854
  • Aug 5, 2008 7:01am Aug 5, 2008 7:01am
Quoting Pipspur
I think the individuals Manny's referring to are the ones who continually took out and refinanced their home equity loans to the max they could borrow as their home values increased through the roof. When the bubble burst they were left way upside down and with a mortgage they could no longer afford. I've seen a lot of the same thing where I own a rental home in Arizona. I think anyone who bought their homes before 2001 should be fine. Unless of course they took out all of the equity in their homes when they were over valued. I think the percentage of Americans effected by that situation should be well under 10%.
thnx thats a very good number much better than i expected
but we still have the people huring from the credit crisis
wat percentage would u say that is
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #79,855
  • Aug 5, 2008 7:02am Aug 5, 2008 7:02am
Quoting Ulterior
Here in EU, Even MORE Europe is NOT indigenous - member states has their own inflation. Lithuania, Latvia for example faces about 14% inflation. Some comoditie and food prices prices increased even more than 60%
pagarba tautieciui
  • #79,856
  • Aug 5, 2008 7:03am Aug 5, 2008 7:03am
Quoting salah k.
congrats man on ur smart decision really
but wen u say life i tough onthe people with real estate issues u are practically saying life is tough on 80% of the people in USA right?
like many people in this country i was able to buy a decent home in downtown at a very affordable price w/ awesome financing!... then with some smaller investments i was able to follow the same path. however 3-4 years later we have people buying and remodeling their 2nd 3rd overprice home with the intent to flip.
credit got cheap and some people got drunk with it..
  • #79,857
  • Aug 5, 2008 7:03am Aug 5, 2008 7:03am
Quoting scyang
Not entering any position right now. You got trailing stop or something in case it retraces big? Don't want to give away the profit you already have.
Are you kidding, sure i have trailing stop and i'm already locking 200 pips, and evrey 10 pips move the stop moves 10 more...
  • #79,858
  • Aug 5, 2008 7:09am Aug 5, 2008 7:09am
Quoting for_idea
pagarba tautieciui
  • #79,859
  • Aug 5, 2008 7:18am Aug 5, 2008 7:18am
Quoting salah k.
thnx thats a very good number much better than i expected
but we still have the people huring from the credit crisis
wat percentage would u say that is
That's hard to say. One way or another, just about everyone's effected. The ones most likely to be effected are younger couples and individuals without much of a credit history looking to buy their first home and also the ones with poor and/or overdrawn credit that became dependent on credit for their day to day living.
  • #79,860
  • Aug 5, 2008 7:27am Aug 5, 2008 7:27am
The bounce off the 168 fibo target that was hit during the UK news spike was over 50 pips and now we have an equal low as cable failed to follow the euro's last push down as dollar strength push the swissy to its 550 level - a new high for this move.

Whilst this can be viewed as a double bottom, I'm still only looking for scalps on the buy side until the FOMC minutes are out......the confluence of the 9500 level and S2 is IMO just begging to get hit
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