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Cable Update (GBPUSD)

  • #98,541
  • Nov 16, 2008 2:28pm Nov 16, 2008 2:28pm
How's it going guys? any ideas for the coming week? I got a nice 2000 pips on my short from 1.65, so I'm out of gbp/usd for now, waiting for an opportunity on the usd/jpy. However I shall be watching good old cable anyway.

So it's gapped down quite substantially- I think it's either going to range for a bit, or it will continue down to 1.39-1.42, at which point I'd expect a significant retrace, but whether that will signal the end of the downtrend or not, I have no idea.
  • #98,542
  • Nov 16, 2008 2:30pm Nov 16, 2008 2:30pm
Quoting LuckyLurker
http://www.forex-markets.com/quotes.htm
No the market isn't open, it's pre-market trading, and it's currently around 1.4659
  • #98,543
  • Nov 16, 2008 2:35pm Nov 16, 2008 2:35pm
Quoting spintrader
No the market isn't open, it's pre-market trading, and it's currently around 1.4659
Market is always open.
USD Est Non Mortuus
  • #98,544
  • Nov 16, 2008 2:36pm Nov 16, 2008 2:36pm
Quoting spintrader
No the market isn't open, it's pre-market trading, and it's currently around 1.4659
It isnt open, but Oanda is open with their 20 pip spread
  • #98,545
  • Nov 16, 2008 2:36pm Nov 16, 2008 2:36pm
Quoting LuckyLurker
Market is always open.
is it?
  • #98,546
  • Nov 16, 2008 2:37pm Nov 16, 2008 2:37pm
Quoting vorschlag
It isnt open, but Oanda is open with their 20 pip spread
20 pip spread? wow..it's low today. time to trade.. ;-)
  • #98,547
  • Nov 16, 2008 2:39pm Nov 16, 2008 2:39pm
Quoting spintrader
is it?
yes. but "most brokers" and all banks tend to be closed on the weekends.
USD Est Non Mortuus
  • #98,548
  • Nov 16, 2008 2:41pm Nov 16, 2008 2:41pm
Quoting LuckyLurker
Market is always open.
there's early trading in New Zealand at this time on Sunday
  • #98,549
  • Nov 16, 2008 2:42pm Nov 16, 2008 2:42pm
Quoting spintrader
How's it going guys? any ideas for the coming week? I got a nice 2000 pips on my short from 1.65,
crazy profit. With 1 lot it is 20 000$
  • #98,550
  • Nov 16, 2008 2:43pm Nov 16, 2008 2:43pm
Quoting dakrusha
20 pip spread? wow..it's low today. time to trade.. ;-)
LOL
  • #98,551
  • Nov 16, 2008 2:43pm Nov 16, 2008 2:43pm
Quoting vorschlag
crazy profit. With 1 lot it is 20 000$
haha and prob hold that for an additional 20k
USD Est Non Mortuus
  • #98,552
  • Nov 16, 2008 3:05pm Nov 16, 2008 3:05pm
Any broker already start trading ???
  • #98,553
  • Nov 16, 2008 3:16pm Nov 16, 2008 3:16pm
mine 16 min ago.
  • #98,554
  • Nov 16, 2008 3:17pm Nov 16, 2008 3:17pm
Quoting vorschlag
mine 16 min ago.
what are they quoting?
USD Est Non Mortuus
  • #98,555
  • Nov 16, 2008 3:20pm Nov 16, 2008 3:20pm
1,4650
  • #98,556
  • Nov 16, 2008 3:21pm Nov 16, 2008 3:21pm
Quoting vorschlag
1,4650
nice.. daily support1 +/- a pip or 20.
USD Est Non Mortuus
  • #98,557
  • Nov 16, 2008 3:36pm Nov 16, 2008 3:36pm
Quoting spintrader
How's it going guys? any ideas for the coming week? I got a nice 2000 pips on my short from 1.65, so I'm out of gbp/usd for now, waiting for an opportunity on the usd/jpy. However I shall be watching good old cable anyway.

So it's gapped down quite substantially- I think it's either going to range for a bit, or it will continue down to 1.39-1.42, at which point I'd expect a significant retrace, but whether that will signal the end of the downtrend or not, I have no idea.

for the 2000 pips trade...

cable daily target around 1.4448
weekly target 1.4300

i dont think it will go below that before a major retracement
When life gives you lemons, make lemonade
  • #98,558
  • Nov 16, 2008 3:50pm Nov 16, 2008 3:50pm
wle warta??? is that u??
When life gives you lemons, make lemonade
  • #98,559
  • Nov 16, 2008 3:50pm Nov 16, 2008 3:50pm
Quoting micho
for the 2000 pips trade...

cable daily target around 1.4448
weekly target 1.4300

i dont think it will go below that before a major retracement
thanks micho, I'll be looking to catch the ride back up the hill next- but I'm not sure when that train leaves yet!

I think I might open another short in the mean time- I withdrew 90% of the profit from the previous trade, so there's no risk of losing that. A good feeling to say the least!
  • #98,560
  • Nov 16, 2008 4:03pm Nov 16, 2008 4:03pm
spin trader welldone buddy 2k pips..is fantastic keep up the great trading..
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