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Cable Update (GBPUSD)

  • #80,661
  • Aug 7, 2008 11:51am Aug 7, 2008 11:51am
Quoting nAVIN2007
good point..let just hope it isnt at 1.8
Are you long, NAV?
Expected the unexpected
  • #80,662
  • Aug 7, 2008 11:54am Aug 7, 2008 11:54am
Quoting nAVIN2007
i hear u and i understand what u mean...however i think u under estimate the power of oil and how it can effect ecomony...its is the most valued comodity "the blood of the earth"
I very much value the power of oil. It has been proven again and again. The consensus is that higher oil prices = higher eurusd = weaker USD. That has worked somewhat in the recent days, in how eurusd has taken a nose dive. But today oil is higher! But eurusd continues to dive. They have decoupled! And euro pulling cable down with it.
Expected the unexpected
  • #80,663
  • Aug 7, 2008 11:54am Aug 7, 2008 11:54am
Quoting scyang
Are you long, NAV?
u so know u didnt have to ask ...sure bloody am ..
  • #80,664
  • Aug 7, 2008 11:56am Aug 7, 2008 11:56am
I totally agree with Navin because Cable has been in most oversold area for the last 2 weeks and it has to come out from the oversold area otherwise most of the day traders will change the currency pair and no body is buying the Cable...

I believe on one theory; if there is good, then there is bad too; if there is low then there should be high too for example, DJIA sometimes closed with -392 points and sometimes it closes with 337+; if there is a dark then there is a hope of light too; there is a loss then there is a profit too; someone used to tell me without loss you can not have profiit; you need to open your heart to welcome loss as you welcome profit....

So keep up your moral gentlemen and ladies (if any on the forum) and hoping for the best.

I didn't say the above because I currently holding long positions, the reason I said that high and low is a basic standard of every business and the enterpreneure of this business has to understand this logic....
  • #80,665
  • Aug 7, 2008 11:57am Aug 7, 2008 11:57am
Quoting nAVIN2007
u so know u didnt have to ask ...sure bloody am ..
Me too and at a very high level. Bleeding badly. Hoping this drop will come to an end. There is no fundamental reasons for it.
Expected the unexpected
  • #80,666
  • Aug 7, 2008 11:59am Aug 7, 2008 11:59am
Quoting scyang
I very much value the power of oil. It has been proven again and again. The consensus is that higher oil prices = higher eurusd = weaker USD. That has worked somewhat in the recent days, in how eurusd has taken a nose dive. But today oil is higher! But eurusd continues to dive. They have decoupled! And euro pulling cable down with it.
NOT IN MY CHARTS
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  • #80,667
  • Aug 7, 2008 12:02pm Aug 7, 2008 12:02pm
Quoting asyed4
I totally agree with Navin because Cable has been in most oversold area for the last 2 weeks and it has to come out from the oversold area otherwise most of the day traders will change the currency pair and no body is buying the Cable...

I believe on one theory; if there is good, then there is bad too; if there is low then there should be high too for example, DJIA sometimes closed with -392 points and sometimes it closes with 337+; if there is a dark then there is a hope of light too; there is a loss then there is a profit too; someone used to tell me without loss you can not have profiit; you need to open your heart to welcome loss as you welcome profit....

So keep up your moral gentlemen and ladies (if any on the forum) and hoping for the best.

I didn't say the above because I currently holding long positions, the reason I said that high and low is a basic standard of every business and the enterpreneure of this business has to understand this logic....
ITS TRUE ...always a balance
  • #80,668
  • Aug 7, 2008 12:07pm Aug 7, 2008 12:07pm
Once Oil come back like a Bullet..we'll see GBP heading up same way
  • #80,669
  • Aug 7, 2008 12:08pm Aug 7, 2008 12:08pm
Quoting scyang
I very much value the power of oil. It has been proven again and again. The consensus is that higher oil prices = higher eurusd = weaker USD. That has worked somewhat in the recent days, in how eurusd has taken a nose dive. But today oil is higher! But eurusd continues to dive. They have decoupled! And euro pulling cable down with it.
Here I disagree with you saing And Euro pulling cable down with it. It is not necessary cable is moving down because of its weekness in all its fundamentals; last week every singal uk news were bad and this week most of its news is bad plus $ is very strong for the last 3 or weeks.

I can write down the different ways for cable to take advantage because I have observed those ways;
1) When US news are bad and $ is weak then Cable is high in us session
2) I have oberserved the last two weeks that in US session cable has dropped more pips than London session because of majority of US news including non farm were in green and the strength of $ is in high...
So I came up with this formula:
Good US news= bad for UK= low for G/U
Bad UK news= bad for UK=low for G/U
Euro crosses down= sometimes effect on G/U
DJIA+ = bad for G/U; luckly for the last two week theh DJIA has increased its 11000 level to 11600 level or so
DJIA-= good for G/U not enough days so G/U would move back up.

End of the story;;;;;;
  • #80,670
  • Aug 7, 2008 12:09pm Aug 7, 2008 12:09pm
cable is between the strong daily R @ 420 and the strong S 450 so he has to pick sooner or later or to break down and hit 370 area or to ush up and fly
  • #80,671
  • Aug 7, 2008 12:12pm Aug 7, 2008 12:12pm
on the brighter side im flying to vegas tonight for a "friends" wedding.. Ill check in from time to time. Gone till wednesday.. I'll have my platform with me though to check the price.
USD Est Non Mortuus
  • #80,672
  • Aug 7, 2008 12:15pm Aug 7, 2008 12:15pm
Quoting warta
cable is between the strong daily R @ 420 and the strong S 450 so he has to pick sooner or later or to break down and hit 370 area or to ush up and fly
we likely i think get a high wave candle (spinning top) or doji on dailly then we might have a chance...if bearish dailly...it will be the same tomorrow..people going to sell at resistance...and this cycle will go on and on till forex factory members drop like flies..
  • #80,673
  • Aug 7, 2008 12:16pm Aug 7, 2008 12:16pm
Quoting LuckyLurker
on the brighter side im flying to vegas tonight for a "friends" wedding.. Ill check in from time to time. Gone till wednesday.. I'll have my platform with me though to check the price.
safe flight and enjoy wedding..blessing to bride and groom
  • #80,674
  • Aug 7, 2008 12:24pm Aug 7, 2008 12:24pm
this dip today really could of been a ton worse for pound. Its currently only around -30 pips from its open today. My daily candle anyway.
USD Est Non Mortuus
  • #80,675
  • Aug 7, 2008 12:28pm Aug 7, 2008 12:28pm
Quoting LuckyLurker
on the brighter side im flying to vegas tonight for a "friends" wedding.. Ill check in from time to time. Gone till wednesday.. I'll have my platform with me though to check the price.
What happens in Vegas, stays in Vegas....
Have fun
  • #80,676
  • Aug 7, 2008 12:41pm Aug 7, 2008 12:41pm
anyone hear about the oil pipeline explosion in Turkey? its going to be offline for 2 weeks......... .........wonder what's that going to do to oil??......
  • #80,677
  • Aug 7, 2008 12:53pm Aug 7, 2008 12:53pm
Quoting AmeriTrini
anyone hear about the oil pipeline explosion in Turkey? its going to be offline for 2 weeks......... .........wonder what's that going to do to oil??......
raise demand and shot cable to luckies target ...
  • #80,678
  • Aug 7, 2008 12:54pm Aug 7, 2008 12:54pm
Quoting nAVIN2007
raise demand and shot cable to luckies target ...

I like the way you think Nav, you've got a beautiful mind..........

I'm targeting 1.9900
  • #80,679
  • Aug 7, 2008 12:57pm Aug 7, 2008 12:57pm
Quoting AmeriTrini
I like the way you think Nav, you've got a beautiful mind..........

I'm targeting 1.9900
same here bro..im hoping this trade going to make me profitable or at least make it so that i almost am..
  • #80,680
  • Aug 7, 2008 12:59pm Aug 7, 2008 12:59pm
Where the heck is Tone? Are we going to buy the heck outta this cable or what????

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