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Cable Update (GBPUSD)

  • #85,761
  • Sep 3, 2008 2:54pm Sep 3, 2008 2:54pm
today is 3x swaps. some atavist carry traders could be buying gbp to drop it after rollover
  • #85,762
  • Sep 3, 2008 3:01pm Sep 3, 2008 3:01pm
Quoting Ulterior
today is 3x swaps. some atavist carry traders could be buying gbp to drop it after rollover
This might actually be the only thing that makes sense in today's move.

KT
  • #85,763
  • Sep 3, 2008 3:07pm Sep 3, 2008 3:07pm
Quoting Ulterior
today is 3x swaps. some atavist carry traders could be buying gbp to drop it after rollover
What and when is rollover?
  • #85,764
  • Sep 3, 2008 3:08pm Sep 3, 2008 3:08pm

I have seen a change in the charts today!

It started on the nice 5 level run up this morning from 7670. Have not seen a long trade like that on the 5m tf since....... I think April or May.

Summer volatility is over.....volume & liquidity has come back and market intervention is a lot tougher for the market movers. ( a 75 pip push becomes a 25)

Levels, trend lines and fibo's should start holding again and hopefully some order and predictability will return this fall.

What a relief that will be if I am right. I have a lot of trades that stopped working this summer and hopefully it is time for them to start working again.

I am not predicting any trend changes or anything.............. I just think there will be retracements instead of just consecutive daily drops like the past 6 weeks and rules will start working again.............Like the slow stotches to start working again on the day charts!!!!!!!!!!


Selling on every little rally was fun, easy and profitable but I think it is over.

WhooooooHooooooo Time to go back to work and make some more money!!!!!!!!!!!!!!
  • #85,765
  • Sep 3, 2008 3:12pm Sep 3, 2008 3:12pm
Quoting Shilva
I have seen a change in the charts today!

It started on the nice 5 level run up this morning from 7670. Have not seen a long trade like that on the 5m tf since....... I think April or May.

Summer volatility is over.....volume & liquidity has come back and market intervention is a lot tougher for the market movers. ( a 75 pip push becomes a 25)

Levels, trend lines and fibo's should start holding again and hopefully some order and predictability will return this fall.

What a relief that will be if I am right. I have a lot of trades that stopped working this summer and hopefully it is time for them to start working again.

I am not predicting any trend changes or anything.............. I just think there will be retracements instead of just consecutive daily drops like the past 6 weeks and rules will start working again.............Like the slow stotches to start working again on the day charts!!!!!!!!!!


Selling on every little rally was fun, easy and profitable but I think it is over.

WhooooooHooooooo Time to go back to work and make some more money!!!!!!!!!!!!!!

thats the worst thing about this whole move ..it was so easy to make money yet some never gained from it ..me being one of them ...it did rteach what a SL was thou.....
  • #85,766
  • Sep 3, 2008 3:48pm Sep 3, 2008 3:48pm
Quoting nAVIN2007
thats the worst thing about this whole move ..it was so easy to make money yet some never gained from it ..me being one of them ...it did rteach what a SL was thou.....
Yeah Nav, that happens to the best. You will make it up this fall.

I also blew a live account this summer. Fortunately, I squared the account the end of May and took profits out and only left a minimum amount in the account in preparation for summer trading. I figured I would build it back up quickly but still was not open minded enough to recognize a trend even when it smacked me in the face.
Rule # 1, Anything can happen
Rule # 2, Every Day decide first if it is Trending or Ranging!
I can't even follow my own dam rules sometimes.
  • #85,767
  • Sep 3, 2008 5:06pm Sep 3, 2008 5:06pm
closed all shorts from 1.7772 @ 1.7743 stay out now

seems it will go up ...
  • #85,768
  • Sep 3, 2008 5:17pm Sep 3, 2008 5:17pm
i´m short from 1.7755 again.. i think it will at least test the 1.7660 level before any major upside move.
:-anything
  • #85,769
  • Sep 3, 2008 5:48pm Sep 3, 2008 5:48pm
Quoting tritom
i´m short from 1.7755 again.. i think it will at least test the 1.7660 level before any major upside move.

Does any body think this way too?
  • #85,770
  • Sep 3, 2008 5:55pm Sep 3, 2008 5:55pm
Quoting peulthai
Does any body think this way too?
.. already on the way to retest
:-anything
  • #85,771
  • Sep 3, 2008 6:03pm Sep 3, 2008 6:03pm
you mean the bottom?
Quoting tritom
.. already on the way to retest
  • #85,772
  • Sep 3, 2008 6:04pm Sep 3, 2008 6:04pm
Quoting tritom
.. already on the way to retest
I noticed. You see it getting to 1.7660?
  • #85,773
  • Sep 3, 2008 6:10pm Sep 3, 2008 6:10pm
Quoting traderpinoy
you mean the bottom?
nobody knows that right now BoE announcement and comments will make or break this level a bottom
:-anything
  • #85,774
  • Sep 3, 2008 6:53pm Sep 3, 2008 6:53pm
Quoting tritom
i´m short from 1.7755 again.. i think it will at least test the 1.7660 level before any major upside move.
where is the major support??
  • #85,775
  • Sep 3, 2008 8:02pm Sep 3, 2008 8:02pm
Quoting rosssurf
What and when is rollover?
Rollover

No, this is not the same as rollover minutes from your cell phone carrier! For positions open at your broker's "cut-off time" usually 5pm EST, there is a daily rollover interest rate that a trader either pays or earns, depending on your established margin and position in the market. If you do not want to earn or pay interest on your positions, simply make sure they are all closed before 5pm EST, the established end of the market day.
Since every currency trade involves borrowing one currency to buy another, interest rollover charges are part of forex trading. Interest is paid on the currency that is borrowed, and earned on the one that is bought. If a client is buying a currency with a higher interest rate than the one he/she is borrowing, the net differential will be positive (i.e. USD/JPY) – and the client will earn funds as a result. Ask your broker or dealer about specific details regarding rollover.
  • #85,776
  • Sep 3, 2008 8:52pm Sep 3, 2008 8:52pm
Quoting Shilva

Rule # 2, Every Day decide first if it is Trending or Ranging!
Shilva,
How do you know the day is trending or ranging?
"Invest With The Insiders, Not The Masses" George Muzea
  • #85,777
  • Sep 3, 2008 9:01pm Sep 3, 2008 9:01pm
Quoting AMFfx
where is the major support??
slap on some indicators that are made for this and you will know

here are some, there are many more for weekly monthly and daily median etc
Attached File(s)
File Type: mq4 Daily FiboPivots.mq4   16 KB | 357 downloads
File Type: mq4 Pivot Points Multitimeframe.mq4   45 KB | 372 downloads
Don't chase the market, Let the market come to you
  • #85,778
  • Sep 3, 2008 10:15pm Sep 3, 2008 10:15pm
Cable has reached an important point in time. Just some FYI
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pivotalpoint.gif Size: 27 KB
Click to Enlarge Name: pp1.gif Size: 30 KB
Click to Enlarge Name: pp2.gif Size: 31 KB
Click to Enlarge Name: pp3.gif Size: 32 KB
  • #85,779
  • Sep 3, 2008 10:41pm Sep 3, 2008 10:41pm
Quoting Tmac
slap on some indicators that are made for this and you will know

here are some, there are many more for weekly monthly and daily median etc
thanks Tmac!!!very helpful
  • #85,780
  • Sep 3, 2008 11:00pm Sep 3, 2008 11:00pm
Quoting Bobokus
Cable has reached an important point in time. Just some FYI
very good analysis, you took great care and time with this.....keep it up.

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