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Cable Update (GBPUSD)

  • #83,201
  • Aug 20, 2008 7:48am Aug 20, 2008 7:48am
1hr pretty much ranging now between 8722 and 8512, ...potential double bottom now at 8535/40 although a way off any kind of confirmation of that which would come with break of top of range.

Intraday recovery off the 8539lows as 5min ranges too after an upside break of the last LH of the downtrend following a L above the Lowest low of the intraday 143pip downtrend, that coming at the 1hr asc suppp trend line that was originally breeched to the downside to see the current intraday low at that 8539 area.
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ex member
  • #83,202
  • Aug 20, 2008 7:50am Aug 20, 2008 7:50am
allow me to clarify,

i meant that fundamentally, it doesnt warrant a massive down now as in right now.. of course i don't mean it will deserves to go up, just that perhaps.. there isn't enough to make it go down way more ya.
  • #83,203
  • Aug 20, 2008 7:51am Aug 20, 2008 7:51am
hi everyone,


I have one question. If US affected by the oil why its not falling ... oil is almost 2 dollars up from NY open????
  • #83,204
  • Aug 20, 2008 7:52am Aug 20, 2008 7:52am
Quoting trading801
allow me to clarify,

i meant that fundamentally, it doesnt warrant a massive down now as in right now.. of course i don't mean it will deserves to go up, just that perhaps.. there isn't enough to make it go down way more ya.
well it goes down or up massively only when big boys want it to
When life gives you lemons, make lemonade
  • #83,205
  • Aug 20, 2008 7:54am Aug 20, 2008 7:54am
Quoting micho
well it goes down or up massively only when big boys want it to
  • #83,206
  • Aug 20, 2008 8:08am Aug 20, 2008 8:08am
thank you for the fast reply. I lost some money trading the news, now i have an idea why was it.
  • #83,207
  • Aug 20, 2008 9:04am Aug 20, 2008 9:04am
Question for everyone to ponder on..
Why when the U.S. session opens does she pick up again?
Keep It Simple Stupid
  • #83,208
  • Aug 20, 2008 9:13am Aug 20, 2008 9:13am
she's a whale..need o come up the surface to breath before she dive again..
  • #83,209
  • Aug 20, 2008 9:15am Aug 20, 2008 9:15am
Quoting dRunKen aRmy
she's a whale..need o come up the surface to breath before she dive again..
  • #83,210
  • Aug 20, 2008 9:18am Aug 20, 2008 9:18am
Quoting Alastair
Question for everyone to ponder on..
Why when the U.S. session opens does she pick up again?
What's your view??

Cable will be mainly led by oil and DJ, moving in the same direction as the former and inversely to the latter, in my opinion.
  • #83,211
  • Aug 20, 2008 9:18am Aug 20, 2008 9:18am
Quoting dRunKen aRmy
she's a whale..need o come up the surface to breath before she dive again..

lol

she seem to be a little slowing now on the long.. i hope it hits yesterday high again
  • #83,212
  • Aug 20, 2008 9:19am Aug 20, 2008 9:19am
n she is holding her breath now..
  • #83,213
  • Aug 20, 2008 9:24am Aug 20, 2008 9:24am
Quoting gammase1
What's your view??

Cable will be mainly led by oil and DJ, moving in the same direction as the former and inversely to the latter, in my opinion.
agree with you.
Check the triangle forming on the 30 min chart.
tried to post it but struggling.
Keep It Simple Stupid
  • #83,214
  • Aug 20, 2008 9:24am Aug 20, 2008 9:24am
you can see where cable is finding resistance on this extended pullback as 1/5min trends up with 15/30 in a weak uptrend following a low 8555 above the lowest low (intraday low) of downtrend from 8684. A high too above the post BOe minutes release react high at 8632.

The intraday (asian low) swing lows area shown on the 30min chart ....support now acting as resistance (sbr) coincides with previous 1hr swing lows in same area.
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ex member
  • #83,215
  • Aug 20, 2008 9:25am Aug 20, 2008 9:25am
Quoting micho
well it goes down or up massively only when big boys want it to
That's the same in any asset class. The "big boys", as they are often referred to, do not collude with each other to move spot favourably in order to conspire against retail traders. Instead, the major banks definitely work on their own.

The big advantage that the major houses have over us, is that they can see where there is significant buying or selling interest, from orders left by their largest clients, hedge funds and the like. If you were privy to this kind of information, it is only natural, and sensible, to take on a position in the same direction of a big order, once it is filled. They also have the top economists on hand to analyse the news and economic data as soon as it is released, which gives them a distinct advantage when trying to trade the news.
  • #83,216
  • Aug 20, 2008 9:36am Aug 20, 2008 9:36am
Hi All,

Many have PM'ed me with the URL and to be honest I have been lazy to set one up as soon as I get home from work.

I will 100% set it up tonightand send it to those who PM'ed me.

Yesterdays short call I made here got me +94 pips :-) on 0.3 Lots (2 pips away from a margin call extremely overleveraged) but I was confident in the short.

Starting Balance: $220.00
Current Balance: $548.00
Trades: 2
Win: 2
Losses: 0
Duration: 4 days

Once I get to the $1000 mark I will be trading full lots. Once again this is pure gambling (although I am using TA and watchin the news etc) but because its EXTREMELY high risk I could get wiped out with 1 bad trade. This is just to feed my gambling needs lol ... haven't been to vegas in a while maybe its the withdrawls lol ...

If I hit my target of $3K I will stop.
  • #83,217
  • Aug 20, 2008 9:39am Aug 20, 2008 9:39am
Down Down
  • #83,218
  • Aug 20, 2008 9:48am Aug 20, 2008 9:48am
Quoting poweredbuyer
Hi All,

Many have PM'ed me with the URL and to be honest I have been lazy to set one up as soon as I get home from work.

I will 100% set it up tonightand send it to those who PM'ed me.

Yesterdays short call I made here got me +94 pips :-) on 0.3 Lots (2 pips away from a margin call extremely overleveraged) but I was confident in the short.

Starting Balance: $220.00
Current Balance: $548.00
Trades: 2
Win: 2
Losses: 0
Duration: 4 days

Once I get to the $1000 mark I will be trading full lots. Once again this is pure gambling (although I am using TA and watchin the news etc) but because its EXTREMELY high risk I could get wiped out with 1 bad trade. This is just to feed my gambling needs lol ... haven't been to vegas in a while maybe its the withdrawls lol ...

If I hit my target of $3K I will stop.
Great alternative to vegas!!

Please PM me as I
I want to follow along!!
I know where I am----I just don't know where I'm going!
  • #83,219
  • Aug 20, 2008 9:53am Aug 20, 2008 9:53am
Quoting gammase1
That's the same in any asset class. The "big boys", as they are often referred to, do not collude with each other to move spot favourably in order to conspire against retail traders. Instead, the major banks definitely work on their own.

The big advantage that the major houses have over us, is that they can see where there is significant buying or selling interest, from orders left by their largest clients, hedge funds and the like. If you were privy to this kind of information, it is only natural, and sensible, to take on a position in the same direction of a big order, once it is filled. They also have the top economists on hand to analyse the news and economic data as soon as it is released, which gives them a distinct advantage when trying to trade the news.
oki doki
When life gives you lemons, make lemonade
  • #83,220
  • Aug 20, 2008 10:24am Aug 20, 2008 10:24am
Good stuff gammmase1 - it makes sense

Information is the currency of power and we dont have any except the past..

So we are on a downslide according to the hourly

All we have to do is force ourselves to wait for the next up - phase and short the pants off it

Not easy when your keyboard is straining at the cable to put a trade on
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