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Cable Update (GBPUSD)

  • #86,701
  • Sep 9, 2008 9:25am Sep 9, 2008 9:25am
MNI - 9/9/2008 12:18:14 PM - CABLE - Sterling remains underpinned by.. CABLE: Sterling remains underpinned by reports that the UK government is considering a government program to buy or guarantee UK mortgages. "A meaningful fiscal package could drive a sterling rally vs. the euro through two main channels" say strategists at Credit Suisse. A fiscal package "could make market pricing for 90bps of BoE cuts over the next twelve months look excessive" and secondly "a meaningful fiscal stimulus could further the process of reversion in EURGBP to our Credit Suisse Fair Value estimate of 0.70 if it puts a floor under the UK economy." The strategists remind that a UK fiscal stimulus plan would be in stark contrast to the lack of a fiscal response in the eurozone "and the tightening of monetary conditions the ECB effected on Sept 4 via changes to its repo collateral requirement."
  • #86,702
  • Sep 9, 2008 9:31am Sep 9, 2008 9:31am
yep looking like we could take this level out.. stiiiil watchin
USD Est Non Mortuus
  • #86,703
  • Sep 9, 2008 9:42am Sep 9, 2008 9:42am
Quote:
Originally Posted by speedtrader8 http://www.forexfactory.com/images/buttons/viewpost.gif
third time I'm saying..

this baby is going up.

long at 7620 and 7591 and 7570.


out 40% at 7647.

out another 20% at 7690...

trading is so fun.... even more so when I am the only person who is long...
am I sick or what???? haha...

Cheers..
  • #86,704
  • Sep 9, 2008 9:42am Sep 9, 2008 9:42am
Quoting kniinc
i see cable hitting the 7780 area (60% retracement of the 7975 to 7470 move) before returning to the 7540 (uptrend line developing from 7470) area before going up again on more weak job data thursday. anybody else with similar analysis?
hoping 77458 would be the max - a top there and fall back - thats my worst case scenario for my short

but that would be a nail biter, so hoping it slides soon

never fight a pit bull whether it's wearing lipstick or not
  • #86,705
  • Sep 9, 2008 9:47am Sep 9, 2008 9:47am
Short at 701.. tighty whitey stop
USD Est Non Mortuus
  • #86,706
  • Sep 9, 2008 9:48am Sep 9, 2008 9:48am
I am not likeing the looks of things today...........$ has every reason to go up today and it's not. Oil down, fannie and freddie takeover is good for econ,
no hurricane threat to oil rigs............none of my shorts have worked as expected and the 62ems on the hourly looks like it has a sustained break if the candle closes above around 7660 in the next 15 mins.

If the 7710 area is broken then it looks like the door is open for the 200ema on the 60m @ around 7870.

My long signal on the hourly looks like it is getting ready to come out I am thinking I will not ignore it.
  • #86,707
  • Sep 9, 2008 9:51am Sep 9, 2008 9:51am
Quoting steelhead
So wrong you are. been long since 1.7500.


great for you!!

ok maybe I should change the sentence to " someone who is long and posted that he is long for three times before it rallied, and got ****ed by almost everyone who is short here.."

I actually didn't believe it but is the old saying of 95% of traders lose really true???
  • #86,708
  • Sep 9, 2008 9:56am Sep 9, 2008 9:56am
Hello Again.
Closed at 1770 from limit order set this morning at 1.7620. Hope you all got some. Long and strong. $ has had a good run, there will be some retracement.
Cable is a long until it isn't. Don't stay wedded to the short side. Still raining in the UK. Has been all day.
  • #86,709
  • Sep 9, 2008 10:00am Sep 9, 2008 10:00am
Quoting steelhead
You will find that most people in here with few exceptions don't have a clue what they are talking about. Furthermore dont have a clue how the market really works.

There are a few that understand it but not many.
Are you claiming that you know ?

That you understand it ?

That would be quite a claim you know

If I thought it was true I would give up right now
  • #86,710
  • Sep 9, 2008 10:02am Sep 9, 2008 10:02am
..
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  • #86,711
  • Sep 9, 2008 10:03am Sep 9, 2008 10:03am
I - 9/9/2008 13:03 PM - Freddie Mac (FRE:NYSE) chart.

From Quentin Tarantino’s Pulp Fiction:

Fabienne: Whose motorcycle is this?
Butch: It's a chopper, baby.
Fabienne: Whose chopper is this?
Butch: It's Zed's.
Fabienne: Who's Zed?
Butch: Zed's dead, baby. Zed's dead.

I look here presented for a actual Freddie Mac (FRE:NYSE) chart, thank you in advance for your help.
  • #86,712
  • Sep 9, 2008 10:07am Sep 9, 2008 10:07am
Quoting steelhead
yes that is what I am claiming. yes to all of that. Hope that answers your question
get a grip

ps - if it's true that you are omniverous like god, then how come you are long and i am making money on my short ?

Well ok some of them
  • #86,713
  • Sep 9, 2008 10:09am Sep 9, 2008 10:09am
Quoting steelhead
yes that is what I am claiming. yes to all of that. Hope that answers your question
bro.im really not being funny but honest what on the chart indicate long was in play at that price level..it completely over looks technical analysis, trendlines and stuff..im asking cause i wanna learn..
  • #86,714
  • Sep 9, 2008 10:09am Sep 9, 2008 10:09am
Quoting steelhead
yes that is what I am claiming. yes to all of that. Hope that answers your question
Bro, if you knew all of this you would not be a trader..
Keep It Simple Stupid
  • #86,715
  • Sep 9, 2008 10:10am Sep 9, 2008 10:10am
Hey Steelhead u musta made a lot of pips shorting sunday night how many was it? about 450 pips right? WOW man all i can say is that was one hell of a trade.. Keep it up man alot of people on here just hatin
  • #86,716
  • Sep 9, 2008 10:21am Sep 9, 2008 10:21am
Quoting steelhead
How is that short from hour and fourty minutes ago working out?

Seems like it has moved up from there.
You are right - I am nursing some losses on that short and making some on others

I don't claim to know more than 51% where things are going (over the long term)and I only make small gains usually

But even the very experienced shake their heads at the market and people like greenspan and many others at the top of wordwide finance say forex is a lottery most of the time

So I am dismissive of anyone who says they know how it all works and consistently just make money day after day, and week after week, and year after year


I simply don't believe you - I don't believe anyone who says they know the market moves all the time

If I believed that I would be in sarah's church and speaking in tongues and trying to magic up an oil pipeline from alaska
  • #86,717
  • Sep 9, 2008 10:23am Sep 9, 2008 10:23am
I was playing this channel on the old m15...
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Patience + Discipline - Greed = Success
  • #86,718
  • Sep 9, 2008 10:23am Sep 9, 2008 10:23am
Quoting steelhead
navin you answered your question already. the reason, i dont care about trend lines tech analysis. I care about what is really going on behind price. Like I have said thousands of times indicators won't tell you that.


I care about what the boys that move the market are doing.

to answer the question about if I knew this stuff i wouldnt be a trader.

Wrong wrong its because i know this stuff that I am a trader
..cant argue with that!
  • #86,719
  • Sep 9, 2008 10:23am Sep 9, 2008 10:23am
Quoting steelhead
How is that short from hour and fourty minutes ago working out?

Seems like it has moved up from there.
But I see, no enough power to move more up.
Add short at 1.7678. Hold 3 shorts.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #86,720
  • Sep 9, 2008 10:23am Sep 9, 2008 10:23am
oil and gold pricing do not directly correlate to cable. a better indicator for cable's direction is the dollar index. it is currently retracing down from yesterday's high, which correlates with cables rise.
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