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Cable Update (GBPUSD)

  • #82,461
  • Aug 15, 2008 6:00am Aug 15, 2008 6:00am
Hi All,
Been following this thread for a while now - but first time posting.

Just wondering what all your opinions of the impact the pending US news today will have on the cable. Are we likely to see a weakening of the dollar today considering the US consumer sentiment still being low?

I'm currently shorting 2 positions @ 1.8565 and 1.8530 .

Loving your work! and have a fantastic days trading.
FX Rookie... LIFE Rookie!
  • #82,462
  • Aug 15, 2008 6:19am Aug 15, 2008 6:19am
Quoting stemkat
Hi All,
Been following this thread for a while now - but first time posting.

Just wondering what all your opinions of the impact the pending US news today will have on the cable. Are we likely to see a weakening of the dollar today considering the US consumer sentiment still being low?

I'm currently shorting 2 positions @ 1.8565 and 1.8530 .

Loving your work! and have a fantastic days trading.
One can't predict what the news will be. Most of the time the direction of USD just before the news gives an indication what the news will be. So right now, USD is weaking a bit and that would mean poor news for the USD. Lets see!
  • #82,463
  • Aug 15, 2008 6:41am Aug 15, 2008 6:41am
the bull r running out and the bears are not chowing them.wat do we do.wise ones
  • #82,464
  • Aug 15, 2008 6:42am Aug 15, 2008 6:42am
Quoting oolides
the bull r running out and the bears are not chowing them.wat do we do.wise ones

u started shortin again?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #82,465
  • Aug 15, 2008 6:59am Aug 15, 2008 6:59am
me shorted again at 18630...i still think we have to go down to 185xx then go up again..what do u think guys?
  • #82,466
  • Aug 15, 2008 7:02am Aug 15, 2008 7:02am
cable recovery currently curtailed by the previous hourly swing low (weds low) at 8640 area coinciding with 3 x fib retraces of the falls from 9036 (23.6%) 8787 (50%) and 76.4% of the intraday fall from 9684 area.

recovery extended to 127pips off the 8512 lows.
ex member
  • #82,467
  • Aug 15, 2008 7:11am Aug 15, 2008 7:11am
Quoting mrmunir
me shorted again at 18630...i still think we have to go down to 185xx then go up again..what do u think guys?
add on my short 5K at 1.8626... tp 1.80xx.. with still holding short since 1.90xx.. hehe.. let's see... sl 1.88xx.. still profit 200pips.. nice ending for this weekend.. good luck guys.. see you next week... i will go sleep with my sweet dream.. if she go up.. touch my sl.. she just reduce my profit not my account.. haha... money management..
just follow the trend...
  • #82,468
  • Aug 15, 2008 7:15am Aug 15, 2008 7:15am
I just exited my short from 8/11 13:00GMT+2 from 1.9182 @ 1.8633 for 549+ and entered a Long @ 1.8636, maybe a bit premature bat lets see how this plays out, if it is negative at the top of the hour I will call it a week.
  • #82,469
  • Aug 15, 2008 7:19am Aug 15, 2008 7:19am
whose shorting please buzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
  • #82,470
  • Edited 7:33am Aug 15, 2008 7:19am | Edited 7:33am
Entry was at the break of the H&S pattern around 8640... It then bounced off the low of 8511 from 10/06 when it consolidated for 3 months before resuming the Long trend.

We'll see how today ends, it could be a pin-bar, meaning the bears are back near tern..... Longer than that we'll have to see.
  • #82,471
  • Aug 15, 2008 7:27am Aug 15, 2008 7:27am
Anybody looking at shorting?
Keep It Simple Stupid
  • #82,472
  • Aug 15, 2008 7:34am Aug 15, 2008 7:34am
still have a lot of news... gonna waite for at least the tic report.
  • #82,473
  • Aug 15, 2008 7:38am Aug 15, 2008 7:38am
il wait aswell, its only 20 mins.
Keep It Simple Stupid
  • #82,474
  • Aug 15, 2008 7:38am Aug 15, 2008 7:38am
Quoting Fx1618
maybe a bit premature bat lets see how this plays out
and again premature

Empire State Manufacturing Index 2.8 -4.3 .... Actual < Forecast... closed out for 10+ will see at the top of the hour if I could re-enter my Long
  • #82,475
  • Aug 15, 2008 7:39am Aug 15, 2008 7:39am
il just wait for all the news to be released.
Keep It Simple Stupid
  • #82,476
  • Aug 15, 2008 7:41am Aug 15, 2008 7:41am
If the news was better than expected why is it still climbing?
Keep It Simple Stupid
  • #82,477
  • Aug 15, 2008 7:42am Aug 15, 2008 7:42am
Quoting Fx1618
and again premature

Empire State Manufacturing Index 2.8 -4.3 .... Actual < Forecast... closed out for 10+ will see at the top of the hour if I could re-enter my Long
Daily hammer at GBP chart giving me a warning not to short as it is way oversold.
Time to hit 1.88 before taking next direction.
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  • #82,478
  • Aug 15, 2008 7:46am Aug 15, 2008 7:46am
172down and 172up today so far as market ignores the better than expected +'ve NY empire manuf data and sells $ after an initial knee jerk buy on the data release.

Area of current intraday highs 8682 tested again and offeras range 8680/85 say mni area of 23.6 of fall from 9257 and the 61.8 of fall from 8787. Daily pivot in the vicininy also....and this puullback becomes 2nd largest in this downtrend from 0157, above 180pips recovery and it becomes the largest...let's see what happens with further U.s data due at 1200pm and 12.15pm gmt now. 8735-85 area I guess is next major upside hurdle
ex member
  • #82,479
  • Aug 15, 2008 7:49am Aug 15, 2008 7:49am
bbmac, Thank you for your analysis!
Keep It Simple Stupid
  • #82,480
  • Aug 15, 2008 7:58am Aug 15, 2008 7:58am
Quoting Alastair
If the news was better than expected why is it still climbing?
Taking out stops. With an option expiry date, it behaves like that a lot.
Expected the unexpected
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