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Cable Update (GBPUSD)

  • #5,941
  • Feb 13, 2007 3:11pm Feb 13, 2007 3:11pm
Quoting BANDA
If I may ask ........at which point will you go long on GBP/USD? I am still thinking GBP don't have good fundamentals to appreciate.

Thanking you all for insight.
Banda
I've noticed that when the pair wants a direction, it places itself at a secure price before news...

For instance, for going down under, it would be much easier to keep it at 9420 rather than 9480-9500 on tomorrow's mixed news as forecast. It has done that since Friday.

Now, to secure going up, it is safe to open London above 9460 in case of GBP-negative news. Spikes down and get buffered at this level. Then comes USD-negative news and the stage is set to boost.

That's what I've observed here... Let's watch European open tomorrow to see how the positions are going to be placed.

Either way, I'm not foreseeing a easy day to trade. I might get the session open, scalp my few pips and get the hell out.
  • #5,942
  • Feb 13, 2007 5:29pm Feb 13, 2007 5:29pm
Quoting Leugimp
long @ 9431 looking for move back to and above 9500 with sl just under 9400

Will taKE FIRST PROFIT @ 9515 AND MOVE STOP TO bREAK EVEN or perhaps trail by a 2 bar low on 1600 tick. Looking for ultimate target of 9570 today with a reverse to short order set up at that level down to 9520.

GBP looks strong today against USD and especially CHF and JPY.
Man who scratches ass should not bite fingernails
  • #5,943
  • Feb 13, 2007 5:54pm Feb 13, 2007 5:54pm
It looks like there is going to be a fall on the pound which will make a great spot to buy at. Im saying it will probably fall to mid 30's then begin it's rise up to 95--.
I dream, therefore I become.
  • #5,944
  • Feb 13, 2007 6:18pm Feb 13, 2007 6:18pm
I don't know if we'll see that area or not since the US news today was NEGATIVE for the USD. I do agree there will be a retracement and an eventual climb up and beyond 1.9500 area. It will be interesting to see what happens at the FRANKFURT and LONDON openings today. Good trades ahead!
Show me the PIPS!
  • #5,945
  • Feb 13, 2007 7:08pm Feb 13, 2007 7:08pm
Quoting henrycarol
Dun worry guys we will see 1.9300s today

Im still shorting
...ah..ho-ho....ok...but, where is your 1.9300s?
TheBe$t
  • #5,946
  • Feb 13, 2007 7:10pm Feb 13, 2007 7:10pm
Quoting tathlynq
And what henrycarol says will happen!

**Results ALMOST guaranteed! Not a recommended trade.Trade at your own risk!** -disclaimer on henrycarol's behalf!
...stupid message that you said above....surely you need a big experience before trading with real money....
TheBe$t
  • #5,947
  • Edited 8:06pm Feb 13, 2007 7:30pm | Edited 8:06pm
Don't take things to seriously ,The Best. Henrycarol is usually dead on and I was giving him his due respect. Why 1.93xx never happened? Bad news for USD when most believed the news was going to be BETTER than forecast. So get some humor on unless traders aren't supposed to have any? Hmmmmm?? And yes, I do trade live money with a 84% success ratio so....... no hard feelings.Please feel free to post any positive insight on the GBP/USD like your predictions, analysis , or experiences trading. Negative comments are petty and a waste of time. Have a hug and lets make some PIPS!
Show me the PIPS!
  • #5,948
  • Feb 13, 2007 10:08pm Feb 13, 2007 10:08pm
For the Record:

Wednesday morning's UK employment report should remain unchanged with a minor move for cable in the range of 15 pips or so on the 09:30 GMT announcements. Jan report was unchanged and cable dropped 15 pips but quickly recovered in 30 minutes following the news.

BOE inflation report at 10:30 GMT should be a different story; when last issued in November, cable moved approx 25-30 pips over 20 minutes. Expect a similar move Wednesday morning.

Yankee excitement begins at 13:30 GMT with US retail sales; followed by Mr. Bernanke at 15:00 GMT.

Wednesday late afternoon brings NZD retail sales at 21:45 GMT (but probably little or no interest to cable traders, except for those trading GBP/NZD or some similar exotic).

Positions: Long cable at 9460 since 20:33 gmt on 13 February; TP 9480. Then clear the decks for the news announcements when newstraders employ their favorite techniques: straddling, hedging, fading or just watching from the sidelines. Whatever you do....do it well.
  • #5,949
  • Feb 13, 2007 10:50pm Feb 13, 2007 10:50pm
TP hit at 04:29 GMT 14 February. Good start to Valentine's Day, particularly since cable fell back shortly thereafter.
  • #5,950
  • Feb 13, 2007 11:06pm Feb 13, 2007 11:06pm
Quoting TheBest
...ah..ho-ho....ok...but, where is your 1.9300s?
Yeah we didn't see 1.9300s yesterday. So what? I made my pips and my profits. I dont give a damn about you.

So be a man and put your thoughts here instead be a useless arm chair critic.
  • #5,951
  • Feb 13, 2007 11:09pm Feb 13, 2007 11:09pm
We still may get below 1.9400 and down to 1.935

The market has been high for a long time. So it will take a long time to change it.
  • #5,952
  • Feb 13, 2007 11:14pm Feb 13, 2007 11:14pm
Quoting darnell
We still may get below 1.9400 and down to 1.935

The market has been high for a long time. So it will take a long time to change it.
At least someone who is open minded here. Maybe we could go below 1.9000s?

Hehe. 1.8888 ......another favourite number of mine.

Not this month.....though.
  • #5,953
  • Feb 13, 2007 11:47pm Feb 13, 2007 11:47pm
HC you may be right...but right now it looks to me we are running out of steam for the downside. Daily looks to me like it is starting to turn north.
  • #5,954
  • Feb 14, 2007 12:25am Feb 14, 2007 12:25am
Just like the way it looks . . . a handsome chart.

http://www.forexfactory.com/attachme...1&d=1171434190
Attached Image
  • #5,955
  • Feb 14, 2007 12:36am Feb 14, 2007 12:36am
Double low bar on 30 minutes chart, shaping on 1 hour chart...
I am just here to talk nonsense =D
  • #5,956
  • Feb 14, 2007 12:46am Feb 14, 2007 12:46am
Major resistance held at 1.9484 at 4.30am

If 1.9458 can be breached then expect a down trend this morning - target 1.9400 and below again.

JMO
  • #5,957
  • Feb 14, 2007 1:01am Feb 14, 2007 1:01am
Double low on 1 hour chart...
I am just here to talk nonsense =D
  • #5,958
  • Feb 14, 2007 1:20am Feb 14, 2007 1:20am
Quoting Zarul Shahrin
Double low on 1 hour chart...
As yet, not understanding a lot of charting terms - For a newbie, can you please explain the meaning or significance of a double low. Someone quoted this yesterday as well.
  • #5,959
  • Feb 14, 2007 1:33am Feb 14, 2007 1:33am
Hmmmmmmmmm........ needs to be broken before a comfortable LONG.
Show me the PIPS!
  • #5,960
  • Feb 14, 2007 1:38am Feb 14, 2007 1:38am
Quoting goonergonebad
As yet, not understanding a lot of charting terms - For a newbie, can you please explain the meaning or significance of a double low. Someone quoted this yesterday as well.
normally. after a double low with higher close like what just happened, you can expect a movement up...The 20 - 30 pips that we just got confirmed this..
I am just here to talk nonsense =D
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