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Cable Update (GBPUSD)

  • #91,981
  • Oct 16, 2008 3:33am Oct 16, 2008 3:33am
5 times 20 pips = 100 pips
  • #91,982
  • Oct 16, 2008 3:36am Oct 16, 2008 3:36am
Hi, Tiger,
ur forcast was well placed...I made into it actualy at the start of the drop but did't get the bull side.
never the less u seem to be a long term trader, wats the source of ur information if i may ask for ref purpose or if u feel its a blue print then give more insight as to the next trend of the great cable.
Straight from Nija!
  • #91,983
  • Oct 16, 2008 3:45am Oct 16, 2008 3:45am
Quoting Shilva
Let me add a little fundamental thought here.

It seems to me that when stocks are tanking, as they are all over the world, the money comes out of the stock market and goes into Treasury. (flight to safety, econ 101)

When money goes into Treasury the currency of that country gets stronger.

Therefore, when the European and British markets open the GBP & Euro goes up.

When the U.S. market opens and stocks drop the $ gets stronger.

That seems to be the pattern for the past several days.

So.......long at 8:30 GMT and short at 1:30 GMT.

Hope it's that simple!




8:30 GMT and short at 1:30 GMT.

It is LONG 4:30AM EST and Short 9:30Am EST...

Like what u said is coming true...

Sonic
  • #91,984
  • Oct 16, 2008 3:53am Oct 16, 2008 3:53am
Quoting bitrader
source http://forekc.blogspot.com/

the possibility of pair return at 1.7380/1.7400, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.

For sells on condition of formation of topping signals the targets will be 1.7300/20, 1.7240/60, 1.7120/40 and/or further breakout variant up to 1.7040/60, 1.6960/80, 1.6880/1.6900.

An alternative for buyers will be above 1.7510 with targets 1.7560/80, 1.7620/40, 1.7680/1.7700.
??? sorry my english are bad .can someone explain it for me?..not very clear to me..hmmmm but what can i see that from m5 to m30 trend are turning up..
just my 1 pip
{Promotion Removed}
  • #91,985
  • Oct 16, 2008 4:16am Oct 16, 2008 4:16am
Hey eohater, can you post your chrt from yesterday with your breif description please, if you have one as I kknow you were having computer problems. I have found them very useful as I think many others on here have.

Only if you have time tho.

Cheers bro
please DON'T copy my trades I am still learning
  • #91,986
  • Oct 16, 2008 5:03am Oct 16, 2008 5:03am
Hi all,
i have been reading this forum since long time ago, until now i decided to get into this thread as an active student in the ways of pips
hope u all can help me in learning the ways of cable...

1st question :
is the GBPUSD still on her way down?
thx

forgive me for my newbieness
Money management is good for your health...
  • #91,987
  • Oct 16, 2008 5:12am Oct 16, 2008 5:12am
MNI Cable: Fundamental levels (orders, options, technicals)
$1.7440/50 Medium offers
$1.7380/85 Minor offers offers
$1.7350/60 Medium offers/$1.7352 Int.Day high (Asia)
$1.7300/10 Minor offers
$1.7280 Medium offers/Stops on break
$1.7270 Recovery highs in Europe, off $1.7210/Minor offers
$1.7267 ***Current market rate 0904GMT Thursday
$1.7210 Pullback lows in Europe/Medium bids to $1.7200
$1.7187 Tech/Medium demand to $1.7180
$1.7150/35 Medium demand/Int.Day low $1.7136 (Asia)
$1.7100 Minor demand on approach
$1.7050/40 Medium demand
Trading is 80% Emotional, 20% Technical
  • #91,988
  • Oct 16, 2008 5:16am Oct 16, 2008 5:16am
Its really hard for me to knw the direction of this damn thing. Any Idea pls
  • #91,989
  • Oct 16, 2008 5:21am Oct 16, 2008 5:21am
hey Fxlocal,
wat the summary of ur post. pls...
  • #91,990
  • Oct 16, 2008 5:24am Oct 16, 2008 5:24am
i'm sorry, i couldn't understand, could u please tell us what those numbers and offers means?
thx

Quoting fx local
MNI Cable: Fundamental levels (orders, options, technicals)
$1.7440/50 Medium offers
$1.7380/85 Minor offers offers
$1.7350/60 Medium offers/$1.7352 Int.Day high (Asia)
$1.7300/10 Minor offers
$1.7280 Medium offers/Stops on break
$1.7270 Recovery highs in Europe, off $1.7210/Minor offers
$1.7267 ***Current market rate 0904GMT Thursday
$1.7210 Pullback lows in Europe/Medium bids to $1.7200
$1.7187 Tech/Medium demand to $1.7180
$1.7150/35 Medium demand/Int.Day low $1.7136 (Asia)
$1.7100 Minor demand on approach
$1.7050/40 Medium demand
Money management is good for your health...
  • #91,991
  • Oct 16, 2008 5:31am Oct 16, 2008 5:31am
Ldn FX: Cable Retains Heavy Tone As Risk Aversion Dominates Oct 16 / 06:30


LONDON, October 16 (MNI) - Cable retained a heavy tone through
European morning trade, with recovery attempts met by decent supply from
the unwinding of sterling-crosses, with risk aversion again to the
fore following a negative close on Wall Street Wednesday.

The pound in general consolidating overnight losses, although it
managed to hold off lows ahead of the New York open.

STERLING SUMMARY: Opened early Europe at $1.7240, stg0.7765
-- Cable closed NY around $1.7270, with early sales of yen crosses,
prompted by risk aversion after the steep decline on Wall Street,
forcing the rate to an early low of $1.7135 before bouncing back to a
high of $1.7352, as yen crosses bounced aggressively after the Tokyo
fix, with talk again of Asian sovereign demand (similar seen
Wednesday). Cable dropped back with euro-dollar to $1.7225 in late
Asian dealing, recovering to $1.7350 ahead of the European open
before sliding to $1.7210 into early European dealing. Attempted
recoveries through the European morning ran into supply from a
semi-official name, with supply also seen from the unwinding of
sterling crosses. Inability to track euro-dollar recovery allowed
euro-sterling to edge back from lows of stg0.7740 to stg0.7822.
-- Cable bids $1.7220/10, $1.7185/80, $1.7150/35. Offers $1.7270/80.
-- Euro-sterling bids stg0.7780, 0.7740/35. Offers stg0.7820/25, 0.7865.
Trading is 80% Emotional, 20% Technical
  • #91,992
  • Oct 16, 2008 5:37am Oct 16, 2008 5:37am
hmmmm....
which now for cable....down....up......follow price mvmnt...
  • #91,993
  • Oct 16, 2008 5:45am Oct 16, 2008 5:45am
Quoting fx local
Ldn FX: Cable Retains Heavy Tone As Risk Aversion Dominates Oct 16 / 06:30


LONDON, October 16 (MNI) - Cable retained a heavy tone through
European morning trade, with recovery attempts met by decent supply from
the unwinding of sterling-crosses, with risk aversion again to the
fore following a negative close on Wall Street Wednesday.

The pound in general consolidating overnight losses, although it
managed to hold off lows ahead of the New York open.

STERLING SUMMARY: Opened early Europe at $1.7240, stg0.7765
-- Cable closed NY around $1.7270, with early sales of yen crosses,
prompted by risk aversion after the steep decline on Wall Street,
forcing the rate to an early low of $1.7135 before bouncing back to a
high of $1.7352, as yen crosses bounced aggressively after the Tokyo
fix, with talk again of Asian sovereign demand (similar seen
Wednesday). Cable dropped back with euro-dollar to $1.7225 in late
Asian dealing, recovering to $1.7350 ahead of the European open
before sliding to $1.7210 into early European dealing. Attempted
recoveries through the European morning ran into supply from a
semi-official name, with supply also seen from the unwinding of
sterling crosses. Inability to track euro-dollar recovery allowed
euro-sterling to edge back from lows of stg0.7740 to stg0.7822.
-- Cable bids $1.7220/10, $1.7185/80, $1.7150/35. Offers $1.7270/80.
-- Euro-sterling bids stg0.7780, 0.7740/35. Offers stg0.7820/25, 0.7865.
Could you please give us the source/website of this news because this is good source for our basis of trading.
  • #91,994
  • Oct 16, 2008 6:12am Oct 16, 2008 6:12am
I said to myself to leave the session alone early in the UK session as I could not see where it was going. Just can't help trying though and getting knocked down every time. Must practise more discipline... Part of the learning process I guess!
  • #91,995
  • Oct 16, 2008 6:49am Oct 16, 2008 6:49am
with particular thought to the intraday trend traders,...this has been the European/London session so far on the 5min...!! 7285-7190 are perhaps the aggressive b/o brackets??
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  • #91,996
  • Oct 16, 2008 7:07am Oct 16, 2008 7:07am
long 1.7245...
  • #91,997
  • Oct 16, 2008 7:26am Oct 16, 2008 7:26am
Quoting TreasureHunt
long 1.7245...
short 1.7259
  • #91,998
  • Oct 16, 2008 7:39am Oct 16, 2008 7:39am
Quoting Ultraman
short 1.7259
Long at 1.7260
  • #91,999
  • Oct 16, 2008 7:41am Oct 16, 2008 7:41am
Quoting Ultraman
short 1.7259
All the best...
  • #92,000
  • Oct 16, 2008 7:58am Oct 16, 2008 7:58am
I keep a record of all my trades and have lost the last 7 in a row (me trying too hard and not using my head!). Fortunately pip and cash loss minimal overall.

What is the worst single run of losses that you other guys have experienced?
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