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Cable Update (GBPUSD)

  • #103,501
  • Dec 3, 2008 4:35am Dec 3, 2008 4:35am
Sorry, I was referring to Guppy being GBPJPY. It has been moving in tandem to cable as everyone offloads the GBP and close their risky carry trades prior to the rates decision.

I presume steelhead is building long term long positions for when everyone dumps USD in December.

Quoting lexazver
but pound was 1.38 at one point in 2001
Ride the Bulls bearback!
  • #103,502
  • Dec 3, 2008 4:38am Dec 3, 2008 4:38am
Quoting steelhead
I know where the buy button is and am using it. If it drops I will click again.

tut tut for know
Good luck....Found the button already but still reluctant to use it.....
  • #103,503
  • Dec 3, 2008 4:40am Dec 3, 2008 4:40am
Quoting moewenger
hey wakli, how r u bro? so you dont hangout at Malaysia thread anymore??
I'm very fine here....Still looking at Malaysia forum but not much participant....
  • #103,504
  • Dec 3, 2008 4:42am Dec 3, 2008 4:42am
damned.....it shot up
  • #103,505
  • Dec 3, 2008 4:46am Dec 3, 2008 4:46am
Quoting wakli
Seems like you're holding on pretty well my friend.....I also forgotten where is the buy button....
looks like ib formation......
at last i`ve found a holygrail........
  • #103,506
  • Dec 3, 2008 4:50am Dec 3, 2008 4:50am
Quoting alcando
Sorry, I was referring to Guppy being GBPJPY. It has been moving in tandem to cable as everyone offloads the GBP and close their risky carry trades prior to the rates decision.

I presume steelhead is building long term long positions for when everyone dumps USD in December.
is it the usual thingg to dump usd in December?? or something else i don't know about
  • #103,507
  • Dec 3, 2008 4:56am Dec 3, 2008 4:56am
1.4773 is:

1. Daily pivot S1
2. Resistance line from yesterday
3. end of 21 ema/15m

Back to short there?
Comments appreciated
  • #103,508
  • Dec 3, 2008 5:05am Dec 3, 2008 5:05am
Quoting ady27
1.4773 is:

1. Daily pivot S1
2. Resistance line from yesterday
3. end of 21 ema/15m

Back to short there?
Comments appreciated
I agree, and will be looking to short again between xx71 and xx98.
  • #103,509
  • Dec 3, 2008 5:17am Dec 3, 2008 5:17am
I read one report that claimed it does usually but in these times nothing is usual so it depends on your fundamental and technical point of view. There is certainly opinion that USD is overbought but we need some good data on both side of the channel before we can say that USD is likely to be offloaded. It's all looking unlikely for now.


Quoting lexazver
is it the usual thingg to dump usd in December?? or something else i don't know about
Ride the Bulls bearback!
  • #103,510
  • Dec 3, 2008 5:35am Dec 3, 2008 5:35am
Hi there Alcando. Glad to see you in the pips this a.m I managed to pick up +123 also. At the moment Ihave a pending short order at 1.4777 which it just missed by .9 of a pip Hope it gets picked up for a ride south
  • #103,511
  • Dec 3, 2008 5:35am Dec 3, 2008 5:35am
I am starting to get the feeling like we did this yesterday. After the cable fell, it had a pretty good retracement (200+ pips). I agree that the cable will fall down to around 1.45 however I think we another retracement back to around 1.4850 in order to push down.

Also the spike up yesterday caught my by surprise and it was around the same time. With all the US news coming out today, I am looking to close my long and enter short but unsure of the price due to the violentity.

Currently I am hedged with a 70 pip difference. And the long looks pretty good for at least 30 pips.

Any thoughts?
  • #103,512
  • Dec 3, 2008 5:53am Dec 3, 2008 5:53am
Cheers Chris.
Yes, that was a sweet move and I was happy with the ticket. Glad to see you are raking it in there. A pip in the pocket is worth 20 on the chart.

The last few weeks have been very kind to me. I will have to back off a bit after Friday as I am starting to overtrade again and not always waiting for the setups but the moves in the other GBP pairs have been extremely useful lately so I am enjoying riding this beast.

The longs from the bottom look good and may have been the better buy as it is a big level but there is likely to be another decent ride down.

It's getting a bit fluffy at this level but I will tread cautiously until the Chicago pit open. Those boys don't want to sell from this level. It looks like we have have an opportunity at your level although I think it may still go higher. Keep an eye on GBPJPY too. If it does not turn when cable is at your level hold the trigger.


Quoting Chris_35
Hi there Alcando. Glad to see you in the pips this a.m I managed to pick up +123 also. At the moment Ihave a pending short order at 1.4777 which it just missed by .9 of a pip Hope it gets picked up for a ride south
Ride the Bulls bearback!
  • #103,513
  • Dec 3, 2008 5:58am Dec 3, 2008 5:58am
what do you guys think?? is the retracement finish?? i see on 5m chart for dollar index it's about to make a u-turn. GJ too it's like its finish upward movement. GU??

  • #103,514
  • Dec 3, 2008 6:08am Dec 3, 2008 6:08am
I'm back short at 1.4740. SL at 50 pips.
  • #103,515
  • Dec 3, 2008 6:11am Dec 3, 2008 6:11am
can i ask are a lot of guy guys able to place trades and just leave it alone till it either his yur SL or target....i really am strugling with this?

any tips?
  • #103,516
  • Dec 3, 2008 6:13am Dec 3, 2008 6:13am
Quoting moewenger
I'm back short at 1.4740. SL at 50 pips.
this is what i think....

non farm data coming out gonna send cable up possible and every1 gonna sell from high to break the low....this is why price went up

any idea or have i got this completely wrong
  • #103,517
  • Dec 3, 2008 6:15am Dec 3, 2008 6:15am
Quoting moewenger
I'm back short at 1.4740. SL at 50 pips.
hit my BE and i think price is going to re-test 1.4771
  • #103,518
  • Dec 3, 2008 6:20am Dec 3, 2008 6:20am
Quoting alcando
Cheers Chris.


It looks like we have have an opportunity at your level although I think it may still go higher. Keep an eye on GBPJPY too. If it does not turn when cable is at your level hold the trigger.
Sounds like a plan Al. So I have canceled pending short order and instead set an alarm 15 pips below my intended entry for the short 1.4777 and another 15 pips above a possible entry for a long 1.4666 then when alarm goes off, if trade can be confirmed, then to hit the button. Thanks Al
  • #103,519
  • Dec 3, 2008 6:23am Dec 3, 2008 6:23am
im so damn bored
When life gives you lemons, make lemonade
  • #103,520
  • Dec 3, 2008 6:26am Dec 3, 2008 6:26am
I think you are right, the non Farm can create horrible spikes and if you enter a questionable trade at this level you need to be prepared to scalp it if it moves further in case we get that unpredictable move again. Unless you have a profit locked in it is a bit of a high risk gamble right now which could reward you but that is not trading because you learn nothing from it except to take risks. It is also unlikely IMHO that this thing makes its move before the data is out.

Better to wait for a safe trade. I am guessing at this stage but it is probable that it will be a quick run up before we find the sellers.

Quoting nAVIN2007
this is what i think....

non farm data coming out gonna send cable up possible and every1 gonna sell from high to break the low....this is why price went up

any idea or have i got this completely wrong
Ride the Bulls bearback!
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