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Cable Update (GBPUSD)

  • #81,461
  • Aug 11, 2008 11:32am Aug 11, 2008 11:32am
Quoting Abuawad
nah, out at the unknown up limit at 1.9231, +90 pips

good job
  • #81,462
  • Aug 11, 2008 11:35am Aug 11, 2008 11:35am
now next target 1.9088
When life gives you lemons, make lemonade
  • #81,463
  • Aug 11, 2008 11:35am Aug 11, 2008 11:35am
Quoting Abuawad
nah, out at the unknown up limit at 1.9231, +90 pips
Nice job!! Did you go short then? What's the next move?
Expected the unexpected
  • #81,464
  • Aug 11, 2008 11:36am Aug 11, 2008 11:36am
Quoting fx local
cable bulls can forget it until crude oil changes direction until then downside shall continue, dont try and fight it!! much easier to just go with the trend until something changes
WELCOME 1.9000
I Deeply Love My Virtual Life In Virtual World , RLC
  • #81,465
  • Aug 11, 2008 11:41am Aug 11, 2008 11:41am
Quoting scyang
Nice job!! Did you go short then? What's the next move?
No out for today
  • #81,466
  • Aug 11, 2008 11:43am Aug 11, 2008 11:43am
Very critical level @1.9125
  • #81,467
  • Aug 11, 2008 11:50am Aug 11, 2008 11:50am
Quoting JgrB
Very critical level @1.9125
It jumped to 1.9135 level from 1.9105; Fxlocal is right; we do not have to fight with the market, as I told earlier cable has lost its identity and now it all depends upon Euro and Oil move.....
I added one long @1.9151 and I don't know whether I am in never never land or there is a land with water there!!!!!!!

I think I am gonna away from the computer until the Asia Session and see what happens!!!!!!!!!!!!!!!!
  • #81,468
  • Aug 11, 2008 11:51am Aug 11, 2008 11:51am
now moved stop loss to break even at 1.9161
When life gives you lemons, make lemonade
  • #81,469
  • Aug 11, 2008 11:57am Aug 11, 2008 11:57am
Quoting asyed4
... I am in never never land or there is a land with water there!!!!!!!

I think I am gonna away from the computer until the Asia Session and see what happens!!!!!!!!!!!!!!!!

Me too and don't expect to trade GBP.USD until tomorrow morning @ 10:30 CET when UK CPI data is released.
  • #81,470
  • Edited 12:22pm Aug 11, 2008 12:04pm | Edited 12:22pm
Quoting asyed4
It jumped to 1.9135 level from 1.9105; Fxlocal is right; we do not have to fight with the market, as I told earlier cable has lost its identity and now it all depends upon Euro and Oil move.....
I added one long @1.9151 and I don't know whether I am in never never land or there is a land with water there!!!!!!!

I think I am gonna away from the computer until the Asia Session and see what happens!!!!!!!!!!!!!!!!
Yes we are just trading euro/usd really - GBP statistics are a distraction with no effect whatsoever

I can understand GBP getting whacked but the Euro ?

As GBP is simply shadowing the euro, I will concentrate my research on that

If the Ukrainians mess with the black sea fleet and the Ruskis roll into the Ukraine, we can see cable and euro in the gutter tout de suite if not sooner

Works the other way of course - if the CIA call off their dogs, we can see a rebound
  • #81,471
  • Aug 11, 2008 12:28pm Aug 11, 2008 12:28pm
this trade is almost enought to have me consider giving up!.....it makes no sense, to just keep breaking supports like this..even confirmation mean nothing in this market....

what the hell is going on....
  • #81,472
  • Aug 11, 2008 12:30pm Aug 11, 2008 12:30pm
1,9100 seems to be giving some support.
Keep It Simple Stupid
  • #81,473
  • Aug 11, 2008 12:31pm Aug 11, 2008 12:31pm
Quoting nAVIN2007
this trade is almost enought to have me consider giving up!.....it makes no sense, to just keep breaking supports like this..even confirmation mean nothing in this market....

what the hell is going on....
the trend is down and the next target is 1.9088
When life gives you lemons, make lemonade
  • #81,474
  • Aug 11, 2008 12:31pm Aug 11, 2008 12:31pm
ok, maybe not..
Keep It Simple Stupid
  • #81,475
  • Aug 11, 2008 12:32pm Aug 11, 2008 12:32pm
Quoting Alastair
ok, maybe not..
what not??
When life gives you lemons, make lemonade
  • #81,476
  • Aug 11, 2008 12:35pm Aug 11, 2008 12:35pm
Quoting nAVIN2007
this trade is almost enought to have me consider giving up!.....it makes no sense, to just keep breaking supports like this..even confirmation mean nothing in this market....

what the hell is going on....
The realization that there is 'no sense' and that charts sometimes don't work, is the mental breakthrough that allows us to avoid big losses and work the averages to get gains but only when an apparent stability is under way......

I like fundies as it's a soap opera to me, but there really is no sense and I reckon we can only really make money with a nice steady trend and a long term position which is well within our account balance

Today is not that, so we we have to run naked through the cactus or stay out which is what we should do (but can't)
  • #81,477
  • Aug 11, 2008 12:35pm Aug 11, 2008 12:35pm
This is the craziest $hit I have ever seen, no news and no bottom!!
Please ask questions and share your experiences with us all!
  • #81,478
  • Aug 11, 2008 12:37pm Aug 11, 2008 12:37pm
next target 1.9040
When life gives you lemons, make lemonade
  • #81,479
  • Aug 11, 2008 12:37pm Aug 11, 2008 12:37pm
Quoting micho
the trend is down and the next target is 1.9088
OK ,whats next target???
Please ask questions and share your experiences with us all!
  • #81,480
  • Aug 11, 2008 12:38pm Aug 11, 2008 12:38pm
Quoting micho
what not??
Because as i said that she whent down on me again..
Keep It Simple Stupid
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