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Cable Update (GBPUSD)

  • #7,561
  • Mar 2, 2007 3:28am Mar 2, 2007 3:28am
Just closed my USDJPY short at 30 from 56. Decided to cover to bring myself back on top with +9 pips for the day and regroup. The price could go a bit lower for 20 but its not worth the risk right now. 15M chart, RSI going into oversold territory as is stochastic.

Apologies for talking about the Yen in a Cable thread but this is one of very few active threads.
  • #7,562
  • Mar 2, 2007 3:30am Mar 2, 2007 3:30am
Cable at a upwards trendline now. As yen carries are so active, we may have a push to 9460 again, but I'm skeptical on further lows...

There's a buying opportunity right around the corner....
  • #7,563
  • Mar 2, 2007 3:32am Mar 2, 2007 3:32am
Quoting 17121712
Just closed my USDJPY short at 30 from 56. Decided to cover to bring myself back on top with +9 pips for the day and regroup. The price could go a bit lower for 20 but its not worth the risk right now. 15M chart, RSI going into oversold territory as is stochastic.

Apologies for talking about the Yen in a Cable thread but this is one of very few active threads.
Same here... only Euro USD looks fuelled to drop now... I'll give it 1/2 hour to make up its mind or pull the plug for small loss at it, overall profit....
  • #7,564
  • Mar 2, 2007 3:34am Mar 2, 2007 3:34am
Quoting cesarnc
Cable at a upwards trendline now. As yen carries are so active, we may have a push to 9460 again, but I'm skeptical on further lows...

There's a buying opportunity right around the corner....
Morning! I agree with you here, I have 9461 as 78.6 retrace level..... and we all know how cable loves 78.6 retraces
  • #7,565
  • Mar 2, 2007 3:37am Mar 2, 2007 3:37am
Quoting musicman007
Morning! I agree with you here, I have 9461 as 78.6 retrace level..... and we all know how cable loves 78.6 retraces
Thanks music, I missed that one... Actually I lost a good $ in this area couple of weeks ago, on this huge support at 9490... So double bottom at 9460s is not out of the cards, but a rejection is expected there....

the yen carries have to retrace, too....
  • #7,566
  • Mar 2, 2007 3:41am Mar 2, 2007 3:41am
Im out of g/u totally for now.

Hit my target at 1.9490

In e/u shorts and usd/chf longs though

Sometimes I just dont understand why ppl like to find a reversal point and get caught.

I wont be surprised if g/u touches 1.9444 today.

Cheers.
  • #7,567
  • Mar 2, 2007 3:45am Mar 2, 2007 3:45am
Quoting henrycarol
Im out of g/u totally for now.

Hit my target at 1.9490

In e/u shorts and usd/chf longs though

Sometimes I just dont understand why ppl like to find a reversal point and get caught.

I wont be surprised if g/u touches 1.9444 today.

Cheers.
HC... dont be so negative bud, 9400 surely
  • #7,568
  • Mar 2, 2007 3:46am Mar 2, 2007 3:46am
Quoting henrycarol
Im out of g/u totally for now.

Hit my target at 1.9490

In e/u shorts and usd/chf longs though

Sometimes I just dont understand why ppl like to find a reversal point and get caught.

I wont be surprised if g/u touches 1.9444 today.

Cheers.
I would LOVE to see that
  • #7,569
  • Mar 2, 2007 3:48am Mar 2, 2007 3:48am
Quoting henrycarol

Sometimes I just dont understand why ppl like to find a reversal point and get caught.
I didn't mean to start bying the heck out of Cable now. What I mean is the opposite, no jumpping in shorts right now because the buying opportunity is right around the corner... May be now, may be 9444, maybe 9390
  • #7,570
  • Mar 2, 2007 3:52am Mar 2, 2007 3:52am
I'm out of the EUR short.... no punch to push down right now...

No position now. Just waiting. Cable is blown up in the 15M
  • #7,571
  • Mar 2, 2007 4:05am Mar 2, 2007 4:05am
I wish previous losses for today didn't push me out of the short UJ position. could have taken an extra 20+ pips. I suppose I could just be pleased I'm not in a loss.
  • #7,572
  • Mar 2, 2007 4:10am Mar 2, 2007 4:10am
Parabolic SAR dot at 9451 in the daily... USD session is promissing to be a blast....
  • #7,573
  • Mar 2, 2007 4:12am Mar 2, 2007 4:12am
Quoting 17121712
I wish previous losses for today didn't push me out of the short UJ position. could have taken an extra 20+ pips. I suppose I could just be pleased I'm not in a loss.
Well, all majors / yen are busting lows after lows... Let's see if UJ recovers from oversold in the 15M AND if NYer will heve further apetite for bottoms today...

Then mid / low 116 is a possiblility...

Yesterday's USD-positive news interrupted UJ to break 117.00... May be the second attempt today...

Sorry for the off-topic, but everything is too yen-related here...
  • #7,574
  • Mar 2, 2007 4:14am Mar 2, 2007 4:14am
Quoting cesarnc
Well, all majors / yen are busting lows after lows... Let's see if UJ recovers from oversold in the 15M AND if NYer will heve further apetite for bottoms today...

Then mid / low 116 is a possiblility...

Yesterday's USD-positive news interrupted UJ to break 117.00... May be the second attempt today...

Sorry for the off-topic, but everything is too yen-related here...
Nope... UJ is not giving a rat's ass for indicator today... going doooooowwnnn....
  • #7,575
  • Mar 2, 2007 4:19am Mar 2, 2007 4:19am
Early talk of stability for the carry trade have proved to be fruitless with a quick reverse now seeing fresh year lows for some of the main pairs, and the Yen at post BOJ highs across the board. The major break today lies in [EUR/YEN] which has knocked out a 10 month trendline around 154.40, and also the 100 day moving average at 154.32. Sellers are not totally dominated by tech factors though, with real money starting the ball rolling, a US custodial account selling in size into initial strength above 155.00. The year low at 153.66 is the obvious draw and a drain of liquidity ahead of the weekend is a worrying factor. Gbp and the commodity currencies are also big losers vs Yen with Usd/Yen driven through prior ACB and Japanese investment bids at 118.00 as a result. 116.40 the fresh target here.

  • #7,576
  • Mar 2, 2007 4:19am Mar 2, 2007 4:19am
Wah nearly at 1.9444

Too bad didnt keep any , thus missed the extra 40pips down

Anyway congrats to those who had.
  • #7,577
  • Mar 2, 2007 4:26am Mar 2, 2007 4:26am
....with PIPS in the bank! =-) Now I wonder if that reversal is ever coming?
Show me the PIPS!
  • #7,578
  • Mar 2, 2007 4:27am Mar 2, 2007 4:27am
444!!!!

  • #7,579
  • Mar 2, 2007 4:30am Mar 2, 2007 4:30am
Quoting tathlynq
....with PIPS in the bank! =-) Now I wonder if that reversal is ever coming?
Now that the Henrycarol line of 1.9444 is complete.....we could see 1.9340.
Show me the PIPS!
  • #7,580
  • Mar 2, 2007 4:30am Mar 2, 2007 4:30am
Man, market is paying back all the choppy days...

While Yen is being bought, Cable is being sold across the board... Have a look a Eur/GBP....

And cocained Wall Street is yet to arrive.....
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