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Cable Update (GBPUSD)

  • #85,741
  • Sep 3, 2008 10:18am Sep 3, 2008 10:18am
Quoting AmeriTrini
apparently the market took the news as good!!
Pound sentiment is so weak it seems as if any news is an excuse to push it further down at the moment
  • #85,742
  • Sep 3, 2008 10:32am Sep 3, 2008 10:32am
short as shoots
The Ottelo way's find the mutual system to wins
  • #85,743
  • Sep 3, 2008 10:35am Sep 3, 2008 10:35am
Quoting DJ4x
Pound sentiment is so weak it seems as if any news is an excuse to push it further down at the moment

Anyone have thoughts on the rate decision tommorow?
  • #85,744
  • Sep 3, 2008 10:40am Sep 3, 2008 10:40am
Quoting poweredbuyer
Anyone have thoughts on the rate decision tommorow?
no change
  • #85,745
  • Edited 11:01am Sep 3, 2008 10:46am | Edited 11:01am
Quoting mr.leahy
possible head and shoulders forming on 15m will look for short entry around 7770

do it now

think i will make a fried egg sandwich while it drops to 1.775
  • #85,746
  • Sep 3, 2008 11:32am Sep 3, 2008 11:32am
9/3/2008 6:40:29 AM - CABLE - Midday - CABLE: Paul Day of MIG Investments comments on the `brutal` sterling capitulation which continues with the currency underperforming on a broad basis. Day adds that cable remains negative on closes below TDMA1 resistance currently at $1.8003 though noting also that the market posted a 13 count buy signal on TD Sequential Monday which gives potential support at the risk level of 1.7757 on a closing basis but says this is a tough market in which to pick the bottom and those wishing to buy the dip should be very disciplined with stops. Long-term view that we will eventually see $1.60 and the weekly close below $1.83 suggested we could head straight to $1.74 in a quick fashion. Resistance through $1.8003 remains at the $1.8171 gap from last week which is starting to look a long way from here Day concludes.
  • #85,747
  • Sep 3, 2008 11:45am Sep 3, 2008 11:45am
Quoting poweredbuyer
Anyone have thoughts on the rate decision tommorow?
No change but I think according to Sunday news time in UK two votes could be for 50 bps cut and 7 votes for no change that could take cable to 1.74 easily!!!!!! and further down if non farm both news would be good this week...
  • #85,748
  • Sep 3, 2008 11:59am Sep 3, 2008 11:59am
Quoting asyed4
No change but I think according to Sunday news time in UK two votes could be for 50 bps cut and 7 votes for no change that could take cable to 1.74 easily!!!!!! and further down if non farm both news would be good this week...
My pal in the UK who is an annoying optimist says it hasnt stopped raining for yonks, and everyone is losing their jobs, and it's going bad everywhere and they are all suicidal - perhaps i should buy funeral homes shares

I see 1.60 too - i will go with that for november ish

sell the peaks chaps
  • #85,749
  • Sep 3, 2008 12:03pm Sep 3, 2008 12:03pm
Quoting allserene
My pal in the UK who is an annoying optimist says it hasnt stopped raining for yonks, and everyone is losing their jobs, and it's going bad everywhere and they are all suicidal - perhaps i should buy funeral homes shares

I see 1.60 too - i will go with that for november ish

sell the peaks chaps
buy an off licence cos think every1 will drown their sorrows!
Trading is 80% Emotional, 20% Technical
  • #85,750
  • Sep 3, 2008 12:07pm Sep 3, 2008 12:07pm
Quoting Why Oh Why
A nice run.
where to read about this chart analysis?
  • #85,751
  • Sep 3, 2008 12:32pm Sep 3, 2008 12:32pm
come on you guys and buy GBP - I need another peak to short

play the game what
  • #85,752
  • Sep 3, 2008 12:44pm Sep 3, 2008 12:44pm
Quoting hard1head1
1.7803 is the 4 Hr 8 EMA and the 1.7959 is the 4 Hr 21 EMA and this comes complete with a set of tweezers forming on the 4 Hr as well with last candle closing in 40 minutes.

Jim.
You're right, I closed short from 1.7809 to 1.7720. It is my 1st new battle after closed the hedge from 1.9713. Try to get back my 50% loss.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #85,753
  • Sep 3, 2008 12:57pm Sep 3, 2008 12:57pm
9/3/2008 1:51:31 PM - CABLE: Strategists at CIBC World Markets say their long-held view that the major head and shoulders top in sterling would result in -quote- a significant decline towards $1.7500 has played out more or less as expected. - quote -; Those players still holding a cable short should tighten stop-losses and think about exiting the trade they say. CIBC notes that important support between $1.7000 and $1.7500 is fast approaching. - quote -;After a 12.5% decline in less than two months and a daily RSI reading of 7 a temporary correction should be expected" the strategists say.
  • #85,754
  • Sep 3, 2008 1:20pm Sep 3, 2008 1:20pm
Quoting Stanton81
9/3/2008 1:51:31 PM - CABLE: Strategists at CIBC World Markets say their long-held view that the major head and shoulders top in sterling would result in -quote- a significant decline towards $1.7500 has played out more or less as expected. - quote -; Those players still holding a cable short should tighten stop-losses and think about exiting the trade they say. CIBC notes that important support between $1.7000 and $1.7500 is fast approaching. - quote -;After a 12.5% decline in less than two months and a daily RSI reading of 7 a temporary correction should be expected" the strategists say.
so support could be 700 pips lower than now and they think its time to pull out ... ???? heck no

700 pips to us guys is not ignorable

But I know what they mean - there will be peaks from now on...

I only take 50 pips or so at a time anyway and short those peaks - but they are getting quite wild and hard to tell the top thereof i must admit
  • #85,755
  • Sep 3, 2008 1:21pm Sep 3, 2008 1:21pm
Quoting manize
You're right, I closed short from 1.7809 to 1.7720. It is my 1st new battle after closed the hedge from 1.9713. Try to get back my 50% loss.
you should say LOCK, hedge is a different thing
  • #85,756
  • Sep 3, 2008 2:17pm Sep 3, 2008 2:17pm
I entered at what i thought was a pearler.
Short at 1.7770 and now itd just dead??
Keep It Simple Stupid
  • #85,757
  • Sep 3, 2008 2:25pm Sep 3, 2008 2:25pm
lols me too 7774
  • #85,758
  • Sep 3, 2008 2:29pm Sep 3, 2008 2:29pm
Quoting mr.leahy
lols me too 7774
S/l?
T/p?
Keep It Simple Stupid
  • #85,759
  • Sep 3, 2008 2:44pm Sep 3, 2008 2:44pm
http://4.bp.blogspot.com/_nmIuQsC9b-...itled++gbp.bmp
{Promotion Removed}
  • #85,760
  • Sep 3, 2008 2:44pm Sep 3, 2008 2:44pm
s/l set at 7850 no t/p looking for 7600 ish I figure if it was going to break 7800 it would have already and I see very little to hold it up here Im also short at 7786 off the last test of 7800.... seems like the "retrace" was more of a bounce although the fact that the pair is reacting to news again may signal a bit of weakening in the down pressure I see no reason for it to do much but head down til 7300
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