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Cable Update (GBPUSD)

  • #7,661
  • Mar 4, 2007 6:18pm Mar 4, 2007 6:18pm
eurusd is not moving down as much as the gbpusd i got two short
  • #7,662
  • Mar 4, 2007 6:20pm Mar 4, 2007 6:20pm
Yay now all we need is to break out of range.... Then we will start seeing some swing trading again..
  • #7,663
  • Mar 4, 2007 6:27pm Mar 4, 2007 6:27pm
Quoting nextG
eurusd is not moving down as much as the gbpusd i got two short
It's been like Friday. Yen buyout and GBP selloff at the same time... "Crimping of hopes for BOE rate hike" said to be the reason...

E/J falling by yen buyout, not EU selloff... I also shorted Euro on Friday and lost money doing so, although gains on UJ and GU shorts were bigger... My view is get out of Euro short.
  • #7,664
  • Mar 4, 2007 6:35pm Mar 4, 2007 6:35pm
On a longer-term Cable is in the obvious diamond formation. If so, then the target for this calendar year should be somewhere at 1.75 before it turns up again to reach 1.95 some time in a couple of years from now. Watch out for the break of 1.9260 level. If Cable changes the direction of the main move of the year it would be very likely that we have already seen the top of it.
  • #7,665
  • Edited 6:45pm Mar 4, 2007 6:39pm | Edited 6:45pm
[DLR/YEN] hits 115.47 via the stop sales around 115.50, and quickly rebounds to 115.96. Stop execution could be the main action at the latest fall. A Swiss name was seen selling at the low area. 115.00 is noted as the barrier.
  • #7,666
  • Mar 4, 2007 6:47pm Mar 4, 2007 6:47pm
waiting for a break even and im out any recomendation with regards to gbpusd im thinking to add another short at 9290 if it does favor atleast i have two short at 9593 with a stop profit if ever

Quoting cesarnc
It's been like Friday. Yen buyout and GBP selloff at the same time... "Crimping of hopes for BOE rate hike" said to be the reason...

E/J falling by yen buyout, not EU selloff... I also shorted Euro on Friday and lost money doing so, although gains on UJ and GU shorts were bigger... My view is get out of Euro short.
  • #7,667
  • Mar 4, 2007 7:13pm Mar 4, 2007 7:13pm
To all the Newbs I've known before."
Lock Profits NOW.
At your discretion, but it s/b with a nice gain.
  • #7,668
  • Mar 4, 2007 7:19pm Mar 4, 2007 7:19pm
[GBP/USD] virtually collapsed from an early morning intraday high of 1.9453 to an intraday low of 1.9269 on massive selling in the GBP/JPY cross by Japanese Sec House and Invt House from the 226.50 level and this was followed by CTA'S and Momentum types who sold on the break of very strong support between the 224.80/225.00 level. The GBP/USD was also hit hard by the CTA's and Momentum types after breaking through support at 1.9412 and 1.9350. With market chatter of investors losing big time in the stock and commodity markets, further repatriation of whatever profits they have in the cosss/JPY will drive it lower thus weighing on the GBP/USD heavily. A break of very strong support at 1.9260 will very quickly see the pair testing the 1.9000 handle.
  • #7,669
  • Mar 4, 2007 8:00pm Mar 4, 2007 8:00pm
great move. i was out, never really thought sunday would move like that... lesson learned.
Nihil Sine Deo.
  • #7,670
  • Mar 4, 2007 8:11pm Mar 4, 2007 8:11pm
cable to 1.9000? I hope so. That would be very good for me. I saw a report of 1.9150 at the most.
  • #7,671
  • Mar 4, 2007 10:19pm Mar 4, 2007 10:19pm
Unbelievable. I was asleep, I've been wanting a G/U short for a week now but it's been too volatile. I have missed the boat for today already. For those of you with experience, what usually happens after a major move occurs on Sunday?
  • #7,672
  • Mar 4, 2007 10:43pm Mar 4, 2007 10:43pm
Quoting 17121712
Unbelievable. I was asleep, I've been wanting a G/U short for a week now but it's been too volatile. I have missed the boat for today already. For those of you with experience, what usually happens after a major move occurs on Sunday?
a retrace to 9360 is feasible.
BAM BAM BOOM! -bravado
  • #7,673
  • Edited 1:50am Mar 5, 2007 1:37am | Edited 1:50am
Quoting coolhand
cable to 1.9000? I hope so. That would be very good for me. I saw a report of 1.9150 at the most.
Don't know if it is for today, but depending on the price it will be by thursday, 9000 is likely at the no-hike news... My opinion, which is far from trustworthy (as the market) with this messy week start
  • #7,674
  • Mar 5, 2007 1:43am Mar 5, 2007 1:43am
[GBP/USD] The pair's intraday low of 1.9262 which was near very strong support at 1.9260 was enough to prompt a slight short covering which brought it back up to 1.9310 before further selling bring it to current level of 1.9270. However, market players believe this is still the calm before another heavy storm which will bring the pair lower to the 1.9000 handle over coming sessions. The catalyst for the move lower may be the BOE's decision to leave rates unchanged on Thursday but with strong selling by the hedge funds of their Cross/Jpy position, the level may be reached even before the BOE rate decision. It is not likely that the current sentiment will turn around anytime soon so a lower GBP/USD is to be expected over the next few sessions. We therefore prefer to sell rallies to 1.9350.

  • #7,675
  • Mar 5, 2007 2:16am Mar 5, 2007 2:16am
What about double suprise on thursday....5.75 vs 4 ? ...lol
its just money
  • #7,676
  • Mar 5, 2007 2:20am Mar 5, 2007 2:20am
Quoting de123
What about double suprise on thursday....5.75 vs 4 ? ...lol
  • #7,677
  • Mar 5, 2007 3:07am Mar 5, 2007 3:07am
Looks like no one wants to place the first ticket, whatever the direction, in the early London...
  • #7,678
  • Mar 5, 2007 3:15am Mar 5, 2007 3:15am
I m hearing a lot about carry trade, and that is the reason why jpy has gone strong.

so what is a carry trade? how does it work? and why do traders do it?
  • #7,679
  • Mar 5, 2007 3:19am Mar 5, 2007 3:19am
Quoting cesarnc
Looks like no one wants to place the first ticket, whatever the direction, in the early London...
well i did go long at 1.9227 - double bottom, and divergence
  • #7,680
  • Mar 5, 2007 3:23am Mar 5, 2007 3:23am
because u get payed interests if u have lets say long NZD/JPY 7.5-0.5%.= 7% for longer time, not intraday...its double on wednesday and weekends...so thats why evrybody was short on yen, but eventually they must close it to take profit...

u just cant believe it,...2 days before we were @ devils, now we are 230
that is 666-222 = 444...thats what the henry was telling us for the past few weeks 444 right?.....
its just money
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