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Cable Update (GBPUSD)

  • #106,301
  • Dec 12, 2008 12:54am Dec 12, 2008 12:54am
Quoting B@by trader
Its being a long time Im not trading Live as I just see the market really busy.
Im shorting as a warm up :-)
so all thinking short?
a tf 30 trendline broke Im expecting cable will make it ways to 1.4841
-standard deviation 1.0-But I think S2 is more than enough for my pocket :-)
  • #106,302
  • Dec 12, 2008 12:59am Dec 12, 2008 12:59am
Quoting B@by trader
a tf 30 trendline broke Im expecting cable will make it ways to 1.4841
-standard deviation 1.0-But I think S2 is more than enough for my pocket :-)
I mean S1
  • #106,303
  • Dec 12, 2008 1:00am Dec 12, 2008 1:00am
I suspect you may get your wish. Just not sure how confident traders are in the USD. It will be interesting to see how Dax and footsie respond now. Its looking very bad which send this lot sliding. As has happened in the past tho we could find the floor again...

Quoting permanentjaun
I'm hoping for a 400 pip day. That'd be just enough.
Ride the Bulls bearback!
  • #106,304
  • Dec 12, 2008 1:10am Dec 12, 2008 1:10am
Quoting alcando
I suspect you may get your wish. Just not sure how confident traders are in the USD. It will be interesting to see how Dax and footsie respond now. Its looking very bad which send this lot sliding. As has happened in the past tho we could find the floor again...
Keep in mind we have retail sales news out during US session and it is likely to be bad. Also we have not penetrated the lower trend line on 4 hr, so I am not yet convinced we are going short.

PT
Zone Breakout Method
  • #106,305
  • Dec 12, 2008 1:15am Dec 12, 2008 1:15am
Quoting PowerTrader
Keep in mind we have retail sales news out during US session and it is likely to be bad. Also we have not penetrated the lower trend line on 4 hr, so I am not yet convinced we are going short.

PT

And now we are penetrating the 4hr lower trend line. It still seems likely we will turn in this area or just below at 1.4900, but we will see.
Zone Breakout Method
  • #106,306
  • Dec 12, 2008 1:19am Dec 12, 2008 1:19am
Exactly, The current tendency has been to sell cable to avert risk and buy cable when things are confident. Its farkin crazy to invest in the country which is carrying the bad news but the safe haven parking space of the dollar is the place to be when the markets are sinking. The sentiment seems to be changing but it won't change overnight. The Eur might get off ok but I think the weak pound will take a pounding for the US failures.

Just this simple man's opinion tho.


Quoting PowerTrader
Keep in mind we have retail sales news out during US session and it is likely to be bad. Also we have not penetrated the lower trend line on 4 hr, so I am not yet convinced we are going short.

PT
Ride the Bulls bearback!
  • #106,307
  • Dec 12, 2008 1:21am Dec 12, 2008 1:21am
We are also at the 1H62ema so the reaction here will be interesting.

Quoting PowerTrader
And now we are penetrating the 4hr lower trend line. It still seems likely we will turn in this area or just below at 1.4900, but we will see.
Ride the Bulls bearback!
  • #106,308
  • Dec 12, 2008 1:22am Dec 12, 2008 1:22am
Quoting alcando
Exactly, The current tendency has been to sell cable to avert risk and buy cable when things are confident. Its farkin crazy to invest in the country which is carrying the bad news but the safe haven parking space of the dollar is the place to be when the markets are sinking. The sentiment seems to be changing but it won't change overnight. The Eur might get off ok but I think the weak pound will take a pounding for the US failures.

Just this simple man's opinion tho.
Good point! I noticed today was one of the few times we had a bit of a disconnect from the Dow Jones, so perhaps we may get back to being able to interpret news again.

PT
Zone Breakout Method
  • #106,309
  • Dec 12, 2008 2:01am Dec 12, 2008 2:01am
Quoting steelhead
Please break these lines so i can go short. I made the lines red maybe that will help
I am a newbie can you please explain why you decided to short at those levels instead of going long. I was under the assumption that if the price broke out of the range and actually closed above it the new trend would be up
  • #106,310
  • Dec 12, 2008 2:20am Dec 12, 2008 2:20am
Quoting B@by trader
a tf 30 trendline broke Im expecting cable will make it ways to 1.4841
-standard deviation 1.0-But I think S1 is more than enough for my pocket :-)
will it go?
  • #106,311
  • Dec 12, 2008 2:28am Dec 12, 2008 2:28am
Quoting B@by trader
will it go?
Already there....
Yesterday
  • #106,312
  • Dec 12, 2008 2:53am Dec 12, 2008 2:53am
Well the confidence in FTSE seems to be recovering. It opened 200 points down and has recovered almost 100 of those so there has not been a big sell off. My expectation from here is that cable may range for much of the morning. I have closed most of my short at 14880.

Pity! A nice stock market collapse would have been nice...

Quoting PowerTrader
Good point! I noticed today was one of the few times we had a bit of a disconnect from the Dow Jones, so perhaps we may get back to being able to interpret news again.

PT
Ride the Bulls bearback!
  • #106,313
  • Dec 12, 2008 2:57am Dec 12, 2008 2:57am
Quoting alcando

Pity! A nice stock market collapse would have been nice...
All in due time Al...
  • #106,314
  • Dec 12, 2008 3:02am Dec 12, 2008 3:02am
True. Patience....

Quoting Vourvoul
All in due time Al...
Ride the Bulls bearback!
  • #106,315
  • Dec 12, 2008 3:12am Dec 12, 2008 3:12am
Quoting alcando
Well the confidence in FTSE seems to be recovering. It opened 200 points down and has recovered almost 100 of those so there has not been a big sell off. My expectation from here is that cable may range for much of the morning. I have closed most of my short at 14880.

Pity! A nice stock market collapse would have been nice...
Very bad intention and selfish
Just coz u wanna make a few bucks you wish for the market to collapse
  • #106,316
  • Dec 12, 2008 3:19am Dec 12, 2008 3:19am
Yes Why not!

Quoting gagakrimba
Very bad intention and selfish
Just coz u wanna make a few bucks you wish for the market to collapse
Ride the Bulls bearback!
  • #106,317
  • Dec 12, 2008 3:29am Dec 12, 2008 3:29am
Quoting alcando
Yes Why not!

DR.EVIL!!!!!!!!!! LMAO

So far missed the gbpusd short by like 5 pips then it collapsed lol....in the eurusd short now though
  • #106,318
  • Dec 12, 2008 3:31am Dec 12, 2008 3:31am
Oh dear, Eur seems to have run off in the opp direction from your shorts. Must be Miami bermuda's.

Quoting Shermenator
DR.EVIL!!!!!!!!!! LMAO

So far missed the gbpusd short by like 5 pips then it collapsed lol....in the eurusd short now though
Ride the Bulls bearback!
  • #106,319
  • Dec 12, 2008 3:34am Dec 12, 2008 3:34am
Morning guys cable is behaving perfectly today unlike yesterday when it was being a complete bitch, i missed the short but my up channel caught it and gonna follow it on up, maybe upto 1.5150
  • #106,320
  • Dec 12, 2008 3:40am Dec 12, 2008 3:40am
Worthy lesson, fortunately not tempted to short. Again bearish trap on London session opening !
Trend support line on H4 worked properly ! Will go long at a dip !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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