Cable Update (GBPUSD)

How much did you risk?

Bon jovi one and all from a grey drizzly UK. Saturday it was hot and I was on Ilkley Moor - the finest place in the world on a beautiful day.

My fact finding mission reveals that cable can only get worse

HBOS/LLOYDS only have a borrowing facitity from queen liz until early in the new year - after that they are on their own

Liz will not buy the bad debt - just lend

I reckon the yanks are taking it on the chin and will recover faster because of that. The Limeys are not really facing up to it and hoping something turns up

With the huge % of the UK economy that relies on financial services, I reckon the Uk is due to take a real header. They ain't seen anything yet.

I am buying USD at these levels. Also, the new super bank lloyds/halifax will still carry a ton of bad mortgages and halifax is much bigger than lloyds so it will be very significant

So in November when my fixed deposit period is up, I will switch remaining GBP deposits to HSBC which has a more diversified asset base

My US shares were up 25k on friday so I am liquidating some this morning if i can as this is going to be a wild ride for the rest of this year

I am paying £9 per day for internet access in this stinky hotel - and that's economy rate ! typical rip off UK - back to the US tomorrow where even a super 8 would not charge for wifi

Sorry long time to reply, thanks bro, just back to my computer again ,

No worries, nice trade

How is your trade bro ?

Initial selling in cable found support at Thursday's swing highs (rbs) seeing a move up to current intraday highs,...this area see-ing challenges on the fibs 8465-75 being 38.2% of the 0157-7447 fall and 76.4% of the fall from the Daily pullback highs 8795 to 7447 lows. Above here and the base of those pullback highs at 8503 comes into view, that area extending to the 8795 pullback highs, being the next upside hurdle.

GBP/USD LONG D1 TF 18 Sept

Price : 1.81xx
SL: 1.7787


http://forexfactory.com/attachment.p...1&d=1221732185



MY GBP/USD Long update...

SL: 1.8265
http://forexfactory.com/attachment.p...1&d=1222080186

Sonic

No break up 1.8434 again, she will go down for some pips.. hm... at leats 50 pips.

http://images44.fotosik.pl/13/bc843a9ddbe65588.gif


what do u think about S on cable now

long from 8438, will have to sit it out for a bit I think

i think she looks 161% daily fibs around 1.8540 area

got stopped out for +1 pip,better than loosing a pip I suppose

i think its just us opening and hitting s/l's and then its going to keep going up for the week

This cable takes my s/l out no matter if Im short or long . 30 40 pips a time. Just cant get on the right side of her

At the moment am long at 8452

you might need a wider SL, but then you are open to loosing a lot more pips in one trade. What time frames are you using?

I was determined to break last weeks loosing streak, but the same old pattern is emerging. If this continues will be going down the tubes for certainhttp://www.forexfactory.com/images/icons/icon8.gif

i go with the trend, buy the dips and don't use s/l's

Am looking at the m30 today, but last week kept trading on the m5 & m10. Looked at the d1 and h1 to keep focused on the slightly larger picture

Guys, have we fallen like 250 pips yet? Because I think I'm still like -150 pips or so and I'm getting a little antsy