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Cable Update (GBPUSD)

  • #80,381
  • Aug 6, 2008 2:19pm Aug 6, 2008 2:19pm
Quoting nAVIN2007
after this week i might just look at weekly charts this is crazy....it look a certainity we going to test 1.9450 tomorrow..where will this end...

Are you sure your not jinxed cable???

Grasp all lose all
  • #80,382
  • Aug 6, 2008 2:20pm Aug 6, 2008 2:20pm
AHH lets bounce of that 67 GBP!!!
  • #80,383
  • Aug 6, 2008 2:21pm Aug 6, 2008 2:21pm
Quoting Teefoo

Are you sure your not jinxed cable???

I think I jinxed it.
Going to bed. When I wake up in the morning then all will be green in my world
Have fun guys.
  • #80,384
  • Aug 6, 2008 2:22pm Aug 6, 2008 2:22pm
Quoting DJ4x
I think I jinxed it.
Going to bed. When I wake up in the morning then all will be green in my world
Have fun guys.

later DJ
  • #80,385
  • Aug 6, 2008 2:23pm Aug 6, 2008 2:23pm
Quoting asyed4
Navin, you are right, I have been doing the trade for several months and this is really crazy because it's started decreasing the price from 1.9961 and without even 50 pips retracement this bad boy been down and down and down and I had the same question yesterday night when this son of $%@
gonna end. Then I decided to looked up the strength of my accounts then I exited my accounts since this morning when I saw its low was 1.9460.

I think there is a light in the end of every tunnel, If I compare with the last two bottom bottom 1.9360 (May 14th) and 1.9411 (June 14th) then August 6th (1.9460) could be the end of this range (1.9340 - 2.0161).

I was long since Sunday night and for the last 3 nights and 3 days my eyes have been tired to see the low number again and again and all of my expectations from technical indicators and previous lows went away and right now I don't expect anything.
im sorry to hear to exited bro...when u trade go in lighter bro, incase yur wrong u have flexability...i myself xpected at start of week for this bad boy to sink but not in one movement..i never seen this b4...it shows anything is possible

the market will do everything possible to keep us consistely guessing
  • #80,386
  • Aug 6, 2008 2:23pm Aug 6, 2008 2:23pm
i feel sick when cable drop
  • #80,387
  • Aug 6, 2008 2:25pm Aug 6, 2008 2:25pm
Quoting DJ4x
I think I jinxed it.
Going to bed. When I wake up in the morning then all will be green in my world
Have fun guys.
thats the spirit bro...this b**ch will go up cause it has too
  • #80,388
  • Aug 6, 2008 2:26pm Aug 6, 2008 2:26pm
Since the cable is almsot at the bottom bottom so if we are more luck then they may say we will rate hike this year and I don't agree with anyone saying that if there is something they will cut the rates.

I don't think they even talk about cutting rates as they see the cable is at teh bottom bottom plus their inflation number was 3.6 last time and if they cut the rate then first of all there could be 140-180 pips downward move plus they will have to write another letter to their chairman about increasing inflation numbers...........

Next week all the good news are coming such as PPI input and inflation numbers plus tonight if they even hold interst rate with positive sign of rate hike then cable could turn from here....
  • #80,389
  • Aug 6, 2008 2:29pm Aug 6, 2008 2:29pm
Quoting warta
i feel sick when cable drop
I feel my blood sugar level is very down when cable drop and it's been dropping since Sunday night. So guys think about my blood sugar level for the last 3 days........
  • #80,390
  • Aug 6, 2008 2:30pm Aug 6, 2008 2:30pm
Quoting asyed4
Since the cable is almsot at the bottom bottom so if we are more luck then they may say we will rate hike this year and I don't agree with anyone saying that if there is something they will cut the rates.

I don't think they even talk about cutting rates as they see the cable is at teh bottom bottom plus their inflation number was 3.6 last time and if they cut the rate then first of all there could be 140-180 pips downward move plus they will have to write another letter to their chairman about increasing inflation numbers...........

Next week all the good news are coming such as PPI input and inflation numbers plus tonight if they even hold interst rate with positive sign of rate hike then cable could turn from here....
they will hold rates, i expect around winter time b4 recession issue start and people realise where UK is...then this sort of move i can understand, maybe this is all about bring oil down....some kinda of correction
  • #80,391
  • Aug 6, 2008 2:31pm Aug 6, 2008 2:31pm
All we have to do is wait, hold our positions and wait. We should be practicing good money management in any case, just to be prepared incase all hell breaks loose. I am well prepared to absorb this and can even go lower. We are all used to making quick money in the forex and sometimes over capiltalize our positions. She can drop closer to that 9369 level, but she has to go back up sometime. Just be ready.


  • #80,392
  • Aug 6, 2008 2:32pm Aug 6, 2008 2:32pm
Quoting asyed4
Since the cable is almsot at the bottom bottom so if we are more luck then they may say we will rate hike this year and I don't agree with anyone saying that if there is something they will cut the rates.

I don't think they even talk about cutting rates as they see the cable is at teh bottom bottom plus their inflation number was 3.6 last time and if they cut the rate then first of all there could be 140-180 pips downward move plus they will have to write another letter to their chairman about increasing inflation numbers...........

Next week all the good news are coming such as PPI input and inflation numbers plus tonight if they even hold interst rate with positive sign of rate hike then cable could turn from here....
First of all, I am holding long position so I would love for this puppy to go up. but one has to be realistic here.

There is no way in the world BOE will hike rates for many months to come. Look at the recent economic numbers coming out of UK. They are bright red. Oil prices have come down without the help of BOE, so inflation risks have come down. Why do they need to hike the rates? For the time being, BOE, FED, ECB will all be in hold mode. Just imagine kids playing the game of staring at each other to see who can hold the longest without blinking first. My guess is that BOE will blink first, i.e. cut rates first (again, that won't happen tomorrow or next rate statement). They have the highest rates among the three major economies and they are slipping into a recession like a runaway train.
Expected the unexpected
  • #80,393
  • Aug 6, 2008 2:33pm Aug 6, 2008 2:33pm
Quoting asyed4
I feel my blood sugar level is very down when cable drop and it's been dropping since Sunday night. So guys think about my blood sugar level for the last 3 days........

have some sweet u'll be ok bro anyway a still looking to the 400 area nothing more am not into any trade right now before testing this area
  • #80,394
  • Aug 6, 2008 2:35pm Aug 6, 2008 2:35pm
Quoting AmeriTrini
All we have to do is wait, hold our positions and wait. We should be practicing good money management in any case, just to be prepared incase all hell breaks loose. I am well prepared to absorb this and can even go lower. We are all used to making quick money in the forex and sometimes over capiltalize our positions. She can drop closer to that 9369 level, but she has to go back up sometime. Just be ready.


  • #80,395
  • Aug 6, 2008 2:37pm Aug 6, 2008 2:37pm
Quoting nAVIN2007

Thats a Pretty Sexy Bounce of the daily low Im long for a 30 - 40 pip scalp but still holding my short to 1.9350
  • #80,396
  • Aug 6, 2008 2:39pm Aug 6, 2008 2:39pm
Quoting AmeriTrini
All we have to do is wait, hold our positions and wait. We should be practicing good money management in any case, just to be prepared incase all hell breaks loose. I am well prepared to absorb this and can even go lower. We are all used to making quick money in the forex and sometimes over capiltalize our positions. She can drop closer to that 9369 level, but she has to go back up sometime. Just be ready.


Yep. however im surprised no profit taking has taken place yet.. I expect it to happen soon. Wed afternoon is perfect too. not saying its happening now though lol.. this is whack.
USD Est Non Mortuus
  • #80,397
  • Aug 6, 2008 2:42pm Aug 6, 2008 2:42pm
Quoting poweredbuyer
Thats a Pretty Sexy Bounce of the daily low Im long for a 30 - 40 pip scalp but still holding my short to 1.9350
gold hasnt broke its support so i think 1.9450 -30 might be the bottom..oil thou is below 365/150 emas so thats not good...

i entering a long at 1.9430 and then maybe again only if i get a signal..
  • #80,398
  • Aug 6, 2008 2:51pm Aug 6, 2008 2:51pm
Quoting LuckyLurker
Yep. however im surprised no profit taking has taken place yet.. I expect it to happen soon. Wed afternoon is perfect too. not saying its happening now though lol.. this is whack.
It is WHACK!! but the whackness will end before the week is over......
  • #80,399
  • Aug 6, 2008 3:02pm Aug 6, 2008 3:02pm
Quoting AmeriTrini
It is WHACK!! but the whackness will end before the week is over......
After rate statement direction will be more clear... I am flat til then.......Price looks real cheap and good for a buy right now but it could go lower before rate statement.....Sentiment seems to be with dollar right now...
Patience + Discipline - Greed = Success
  • #80,400
  • Aug 6, 2008 3:04pm Aug 6, 2008 3:04pm
Quoting Infinity
After rate statement direction will be more clear... I am flat til then.......Price looks real cheap and good for a buy right now but it could go lower before rate statement.....Sentiment seems to be with dollar right now...

I agree, but remember, no statement will be issued if there is no rate change. Thats how the BOE works, only if they increase or decrease the rates then there will be an accompanying statement.

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