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Cable Update (GBPUSD)

  • #81,181
  • Aug 8, 2008 3:08pm Aug 8, 2008 3:08pm
Quoting TerpFan2
Cool Carrera,

Someday 'might get there, if' 'quit taking 600 pip retraces!
Ha!
-Last time 'went to the island was Rosey Road's,
as an Aircrewman. 'Snorkeled to 'Bombed out Navy boat,
Then got chased in @dusk by barracuda to the beach!

-Missed the bus back to barracks, walked @dusk,
and eaten to the bone by your National "Bird"! !
Scream'in Me-me's tore us up a mile hike up 'road @dark!!!
They loved the salt water skin.
-We Must've tasted like chicken! !
Ahh those P-3 Sub-hunting days!
Looks like Russia want's to bring em back!
Have a great one,

Jeff !
  • #81,182
  • Aug 8, 2008 3:12pm Aug 8, 2008 3:12pm
Quoting TerpFan2
Cool Carrera,

Someday 'might get there, if' 'quit taking 600 pip retraces!
Ha!
-Last time 'went to the island was Rosey Road's,
as an Aircrewman. 'Snorkeled to 'Bombed out Navy boat,
Then got chased in @dusk by barracuda to the beach!

-Missed the bus back to barracks, walked @dusk,
and eaten to the bone by your National "Bird"! !
Scream'in Me-me's tore us up a mile hike up 'road @dark!!!
They loved the salt water skin.
-We Must've tasted like chicken! !
Ahh those P-3 Sub-hunting days!
Looks like Russia want's to bring em back!
Have a great one,

Jeff !
  • #81,183
  • Aug 8, 2008 3:20pm Aug 8, 2008 3:20pm
Quoting Abuawad
thanks bro, but FYI im living in Riyadh i'm from Jordan
OK.

Abouwad; Hi, the Stock market is closed now; can you please let us know that next week what could be the max of Cable price based on your system;

Do you think that cable could go further down to 1.89/90 area and if that is the case then I think hedging in different currency would be the option right I mean if I already have cable for long then I Can go for Euro short so at least my account will not be liquadated or I will not have to more fund my account......

My opinion is since cable didn't break 1.9144 beanch mark today so there is a high possiblity for cable to go towards 1.9350 area; what do you think guy and you have a nice weekend!!!!
  • #81,184
  • Aug 8, 2008 3:24pm Aug 8, 2008 3:24pm
Last Story,

-Got to laugh this weeks cable blood off the sleeve!

Same Night, after getting bit up on the island,
My "TaccO" (Tact.War Officer),
Claimed "i was a rookie", and i would PUKE the next day,
on our torpedo run 3-4g's 300knots over hot/humid water.

Well,
"Pride comes before the fall", they called in a bomb
threat (as usual) on the Gate's. (CLosed Gates) "TAccO"
Got out, drank Tequilla all night, we couldn't leave base.
He smelled like rotten eggs farting in the plane,
-all morning on Pre-Flight.

I got my first Torpedo run under my belt,
and he blew cookies all over the Airplane!
HA!
Have a great weekend!
Wish you all the Best,

Jeff !
I will work to Objectively Identify my Edges
  • #81,185
  • Aug 8, 2008 3:32pm Aug 8, 2008 3:32pm
Quoting TerpFan2
Last Story,

-Got to laugh this weeks cable blood off the sleeve!

Same Night, after getting bit up on the island,
My "TaccO" (Tact.War Officer),
Claimed "i was a rookie", and i would PUKE the next day,
on our torpedo run 3-4g's 300knots over hot/humid water.

Well,
"Pride comes before the fall", they called in a bomb
threat (as usual) on the Gate's. (CLosed Gates) "TAccO"
Got out, drank Tequilla all night, we couldn't leave base.
He smelled like rotten eggs farting in the plane,
-all morning on Pre-Flight.

I got my first Torpedo run under my belt,
and he blew cookies all over the Airplane!
HA!
Have a great weekend!
Wish you all the Best,

Jeff !

good weekend to u too bud
  • #81,186
  • Aug 8, 2008 3:55pm Aug 8, 2008 3:55pm
Navin,

Since i'm in the Comm Industry and have access...

Here's a blood RED cable striped pair for US to
remember. -'Should, be put in Carrera's movie!

-We ought to pass a bloody cable around like
a fruit cake (instead of a 'Crapper), to help us remember
& respect loss w/trades!
'Will settle for being one of Carrera's Extra's this week!

Jeff !
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Cable Tower Pics 002.jpg Size: 99 KB
Click to Enlarge Name: Cable Tower Pics 001.jpg Size: 122 KB
I will work to Objectively Identify my Edges
  • #81,187
  • Aug 8, 2008 4:19pm Aug 8, 2008 4:19pm
Quoting Nomad
thanks JgrB...much appreciated

You're welcome. Ask for any chart you may need.
  • #81,188
  • Aug 8, 2008 4:21pm Aug 8, 2008 4:21pm
Some people made a lot of pips this week and some lost a lot.....Have some fun this weekend and come back with a fresh open mind next week. Keep the faith guys and be like Trichet... have no bias...

Have a great weekend people and don't forget to party....
Attached Image
Patience + Discipline - Greed = Success
  • #81,189
  • Aug 8, 2008 4:35pm Aug 8, 2008 4:35pm
Quoting sblank
Honestly at this moment flip a coin. Better to wait for some momentum. The MACD is limping along on the 4hr. with barely a pulse on the signal line. We are at the lower lows from earlier this year. Fundamentals have not been good for UK. We are looking an eventual head and shoulders on the weekly. Just a matter of time.
Trading is not flipping coins. you might as well go gambling. you'll get more pleasure out of it.

The trend is going to keep going down. Do whatever you always do best in this situation!
{Promotion Removed}
  • #81,190
  • Aug 8, 2008 5:26pm Aug 8, 2008 5:26pm
Quoting forexpert
Trading is not flipping coins. you might as well go gambling. you'll get more pleasure out of it.

The trend is going to keep going down. Do whatever you always do best in this situation!
I agree with you Forexpert BUT I know what his point and I understand that monthly trend is downward but that doesn't mean no one can trade long. On March 16th, 2007 cable was @ 1.9340 and after one year and 5 months it break that benchmark from 1.9340 to 1.9144. That didn't mean nobody did long or scalping long from March 16th 2007 till now. I was not trading at that time but I heard cable went back to at least 1.95 level from 1.9340 I think in two or three weeks.....

I know this hell of a week is finished and every week is different. And we don't have to forget that cable will have 2-4 (very important news) coming out next week and based on the calendar, few news of US will be coming out in red (worse than expected) so basically this is the game of mouse and cat as long as you don't take stress out of it and have an ability to take risk and loss along the road.....
  • #81,191
  • Aug 8, 2008 5:33pm Aug 8, 2008 5:33pm
Quoting truthy
I feel bad to be celebrating, but this was a great week for me .
Congrats bro.. keep it up and have a nice weekend!!!!!!!
  • #81,192
  • Aug 8, 2008 6:16pm Aug 8, 2008 6:16pm
Quoting warta
gr8 advice Saint Infinity
Patience + Discipline - Greed = Success
  • #81,193
  • Aug 9, 2008 4:07am Aug 9, 2008 4:07am
after review of things i actually feel like actually this might not be so bad..LONGS we might be BACK!!.hang tight


we retrace completely 50% swing 1.7049-2.1143 on monthly....and this might be a massive dip to buy .....got to be positive

i lightned the load so now im carying 0.2 lots in the fire pit right now ..
  • #81,194
  • Aug 9, 2008 8:20am Aug 9, 2008 8:20am
Quoting nAVIN2007
after review of things i actually feel like actually this might not be so bad..LONGS we might be BACK!!.hang tight


we retrace completely 50% swing 1.7049-2.1143 on monthly....and this might be a massive dip to buy .....got to be positive

i lightned the load so now im carying 0.2 lots in the fire pit right now ..

hello navin hows u man

we already broke the 360 area so dont think about 2.000 soon i think we will see an uper move till 400 o5 500 , if we cant lock in this area cable will fall again like hell and 8700 wil be mostely welcome for the next 2 weeks

if u still holding ur long dont wait a big move and dont do the same mistake aswell
good luck my friend
  • #81,195
  • Aug 9, 2008 9:08am Aug 9, 2008 9:08am
Quoting nAVIN2007
after review of things i actually feel like actually this might not be so bad..LONGS we might be BACK!!.hang tight


we retrace completely 50% swing 1.7049-2.1143 on monthly....and this might be a massive dip to buy .....got to be positive

i lightned the load so now im carying 0.2 lots in the fire pit right now ..
Well this might give you a little laugh. I just closed a short trade that I had opened in November 2006 at 1.9151 at 1.9150 on Friday. I've also got a couple in the 1.86 area as well and I'm kind of hoping that we'll be heading in that direction for at least the next three full weeks of trading in August if not for the rest of the year.

I'm by no means a technical trader but I guess I'm sort of relying on the fact that Cable's average yearly range is around 2000 odd pips and since the high has been around 2.04 and it has broken the bottom of the yearly range then I'm assuming that it could go to the 1.84 - 1.85 area. If it doesn't, oh well, I guess I'll just be waiting a little longer! Doesn't stop me trading in the meantime though and trading is way more exciting than gambling IMHO. Just make sure your account can handle the drawdowns - he, he ....

Good trades to all
Nothing worth having is easy.
  • #81,196
  • Aug 9, 2008 9:46am Aug 9, 2008 9:46am
Hey guys, hows it going,

share chart and some insight with u,

Daily Cable chart shows descending triangle, series of glinding highs, it seems to have broken down point C baseline crucial support.

This 19400 handle taken out is quite significant. As seen congestion was at 19800 area, convergence of 500/200 MA concurs with sharp sell off.

Overall the outlook looks very bearish from both a technical and one could argue from a fundamental view.

Mon/Tues may provide "dead cat bounce" with UK inflation data, any rallies seen as selling opportunities for a move lower to eventual target of 17642 closer to year end?!

trade at your own risk and learn to be disloyal to a losing trade/idea!
The key is buying when the market is strong, buying on a retracement is psychologically seductive because we feel that we are getting a bargain vs. the price we saw! Pick trades on risk reward not on tops and bottoms. (again all easier said than done!)

sound money mangement and strong decision making discipline are more crucial to success than having good analysis.

anyway good luck to all

happy trading

Gurps
Attached Image (click to enlarge)
Click to Enlarge Name: Cable Daily.JPG Size: 152 KB
Trading is 80% Emotional, 20% Technical
  • #81,197
  • Aug 9, 2008 10:20am Aug 9, 2008 10:20am
Quoting Patience
Well this might give you a little laugh. I just closed a short trade that I had opened in November 2006 at 1.9151 at 1.9150 on Friday. I've also got a couple in the 1.86 area as well and I'm kind of hoping that we'll be heading in that direction for at least the next three full weeks of trading in August if not for the rest of the year.

I'm by no means a technical trader but I guess I'm sort of relying on the fact that Cable's average yearly range is around 2000 odd pips and since the high has been around 2.04 and it has broken the bottom of the yearly range then I'm assuming that it could go to the 1.84 - 1.85 area. If it doesn't, oh well, I guess I'll just be waiting a little longer! Doesn't stop me trading in the meantime though and trading is way more exciting than gambling IMHO. Just make sure your account can handle the drawdowns - he, he ....

Good trades to all
With all due respect...

LOL I have got to admit that you have the most suitable nickname ever on this forum. However it must have cost you quite a bit in terms of swap charges for shorting the pair for such a long time!
  • #81,198
  • Aug 9, 2008 10:44am Aug 9, 2008 10:44am
Quoting shajib
With all due respect...

LOL I have got to admit that you have the most suitable nickname ever on this forum. However it must have cost you quite a bit in terms of swap charges for shorting the pair for such a long time!
Oh, it did cost me in swap charges but if I had capitulated at 2.11 it would have cost me 4 x more money .... what a horrible thought ....

And who would have thought that it was going to go to 2.11 when it was at 1.70. Mind you there is still that gap up at 2.08 that the market hasn't filled. Mmmm - let's say 1.85 then all the way back up there in the next couple of years.

My way of trading is so out of whack to what is recommended on this forum that it is laughable. And thank goodness I can laugh about it
Nothing worth having is easy.
  • #81,199
  • Edited 11:04am Aug 9, 2008 10:48am | Edited 11:04am
A monthly view..............

according to technical analysis, you buy on the third test of the TL. Higher time frames are also most accurate.
Attached Image (click to enlarge)
Click to Enlarge Name: Monthly Chart.JPG Size: 105 KB
  • #81,200
  • Aug 9, 2008 11:47am Aug 9, 2008 11:47am
Quoting AmeriTrini
A monthly view..............

according to technical analysis, you buy on the third test of the TL. Higher time frames are also most accurate.
loving it bro..man u are good ...very simple chart but man does it get the point across...also add to this chart its hopefully a bounce at pivot zone, retrace at 50%...we looking good id say
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