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Cable Update (GBPUSD)

  • #107,341
  • Dec 16, 2008 7:54pm Dec 16, 2008 7:54pm
Quoting biax
I am with you too

sell GBPUSD at 1.5600 sl: 1.5650 tp: 1.5550

hope it profitable when I'm sleep
I think we don't need SL, only rate news can push price breakout, but now there is no news anymore...
It must be down to 1.50 from now on till the end of this week
Good luck to all here !
Give me patience
  • #107,342
  • Dec 16, 2008 7:56pm Dec 16, 2008 7:56pm
yeah the same would have to apply - trade what you see, time for bed now and wait for london to open tomorrow, just hope it doesnt break out before london
  • #107,343
  • Dec 16, 2008 8:02pm Dec 16, 2008 8:02pm
Quoting eohater
That's a good view, but I personally don't think 5550 will hold her, I'm not willing to go long on her at that price and definately not at the price she is at. She could be getting ready for the traditional head fake, fall below the 5550 and then shoot back up north. I wouldn't expect much of a fall farther, maybe 5500, however, she could blow past 5500 down to 538x area and confirm the upward movement. Either way, I'll trade whatever is presented and be glad doing so as I'm sure you will too.
looking at how there's no good news coming out for USD, fundamentally, the cable shouldn't go much lower. only a small correction should be expected. agree?
  • #107,344
  • Dec 16, 2008 8:04pm Dec 16, 2008 8:04pm
Quoting hitman047
looking at how there's no good news coming out for USD, fundamentally, the cable shouldn't go much lower. only a small correction should be expected. agree?
Fundamentally, I cannot answer that, I'm not a fundamental trader. Technically, we should go and create a higher low to reconfirm the upward trend. I do believe cable will continue to rise til the end of the year.
Just digging in the trenches like everyone else!
  • #107,345
  • Dec 16, 2008 8:20pm Dec 16, 2008 8:20pm
Quoting Bullfx
I think we don't need SL, only rate news can push price breakout, but now there is no news anymore...
It must be down to 1.50 from now on till the end of this week
Good luck to all here !
You've made some great calls this week, but she doesn't have to do anything we want her to do.

1.50 is outside of any channel that I've come up with. Don't get me wrong, I would love to see it at 1.50 again, I have some nice money short right now. But I'm not going to marry my position. How are you deriving the 1.50 area if you don't mind me asking?
Just digging in the trenches like everyone else!
  • #107,346
  • Dec 16, 2008 8:32pm Dec 16, 2008 8:32pm
Quoting goldrush
How are you so sure about this? I am really suprrised that you held on to your prediction that cable will break out up to 1.5500 at least today and it did.
How are you so sure we will have a great down movement in GU, EU and Gold?
Hic, I predicted and bet that this week GU will reach at least 1.5500 from ... last week, not yesterday , you can see what I posted last week.
Now I exited all my longs and starting SHORT, No more reason to go long now. GU will drop to around 1.50 area within this week and maybe 1.4 in next weeks. cause USD will be up again, there's coming bad news for Gbp and last of all for Profit Taking
You will see all in NY session today.
Wish you all here make pips !
Give me patience
  • #107,347
  • Dec 16, 2008 8:36pm Dec 16, 2008 8:36pm
Quoting Bullfx
Hic, I predicted and bet that this week GU will reach at least 1.5500 from ... last week, not yesterday , you can see what I posted last week.
Now I exited all my longs and starting SHORT, No more reason to go long now. GU will drop to 1.50 within this week.
I don't know if your calling me a Hic or what that is, but I hope your not.

Anyways, I do know you were calling for 5500 from last week. I'm not doubting that. I'm just trying to understand if you have reason behind it or if your just looking into a crystal ball. Either way, I don't care, because I'll trade her as I see it and be just fine if it goes to 5000 or 6000. I don't care nor have any emotion towards the direction.

So, back to the Hic, I hope that was a typo.
Just digging in the trenches like everyone else!
  • #107,348
  • Dec 16, 2008 8:37pm Dec 16, 2008 8:37pm
Hey guys I had to go tennis but left my longs on at 5500 take profit, worked out nice
  • #107,349
  • Dec 16, 2008 8:38pm Dec 16, 2008 8:38pm
Quoting Bullfx
Hic, I predicted and bet that this week GU will reach at least 1.5500 from ... last week, not yesterday , you can see what I posted last week.
Now I exited all my longs and starting SHORT, No more reason to go long now. GU will drop to 1.50 within this week. cause USD will be up again, there's coming bad news for Gbp
You will see all in NY session today.
i agree; i didnt think it would go this far (but the feds lowered interest rates lower than expected)... so i am already short on eur /usd, eur/jpy and gpb/usd .... got my stops in... either this week will be +10% or -10% ... we will see.
  • #107,350
  • Dec 16, 2008 8:38pm Dec 16, 2008 8:38pm
Quoting Bullfx
Hic, I predicted and bet that this week GU will reach at least 1.5500 from ... last week, not yesterday , you can see what I posted last week.
Now I exited all my longs and starting SHORT, No more reason to go long now. GU will drop to 1.50 within this week. USD will be up again, there's coming bad news for Gbp
Please which indicator or trading system are you using? What is the source of your prediction? and why are you so sure?
  • #107,351
  • Dec 16, 2008 8:39pm Dec 16, 2008 8:39pm
Quoting PipLand
Hey guys I had to go tennis but left my longs on at 5500 take profit, worked out nice
Good job on your trade! I hope you did just as good at tennis!
Just digging in the trenches like everyone else!
  • #107,352
  • Dec 16, 2008 8:48pm Dec 16, 2008 8:48pm
Quoting eohater
Good job on your trade! I hope you did just as good at tennis!
cheers but no I hurt my neck had to stop playing lol, but at least i had some pips to come back home too

Before i go to bed im thinking about shorting if 5648 holds not sure though hopefully price will hurry up and get there so i can decide and go to bed
  • #107,353
  • Dec 16, 2008 8:54pm Dec 16, 2008 8:54pm
H1 is very bulish like December 9-08 before flying up !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,354
  • Dec 16, 2008 8:57pm Dec 16, 2008 8:57pm
Quoting eohater
You've made some great calls this week, but she doesn't have to do anything we want her to do.

1.50 is outside of any channel that I've come up with. Don't get me wrong, I would love to see it at 1.50 again, I have some nice money short right now. But I'm not going to marry my position. How are you deriving the 1.50 area if you don't mind me asking?
I have to agree with you on this one. There is nothing I am looking at that would indicate we would be back down to 1.5000. Never say never, but the actions of the Fed today made it more likely that there would be less conversion to dollar based treasuries and looked to weaken the dollar. The Gov policy now is to save the economy and it looks as if the first casualty will be the dollar. I could be wrong but there was a very good article on Bloomberg today outlining what I have just said. I do respect all opinions and traders.
Zone Breakout Method
  • #107,355
  • Dec 16, 2008 9:01pm Dec 16, 2008 9:01pm
Quoting PowerTrader
I have to agree with you on this one. There is nothing I am looking at that would indicate we would be back down to 1.5000. Never say never, but the actions of the Fed today made it more likely that there would be less conversion to dollar based treasuries and looked to weaken the dollar. The Gov policy now is to save the economy and it looks as if the first casualty will be the dollar. I could be wrong but there was a very good article on Bloomberg today outlining what I have just said. I do respect all opinions and traders.
I would be shocked if we go back to 5000 anytime soon.

If I manage to get a short on the table I will TP at 5480 unless im watching and price just happens to smash through. The lowest I can see this going to on my chart is 5300
  • #107,356
  • Dec 16, 2008 9:31pm Dec 16, 2008 9:31pm
Quoting Bullfx
I think we don't need SL, only rate news can push price breakout, but now there is no news anymore...
It must be down to 1.50 from now on till the end of this week
Good luck to all here !
yap, i closed only with 10pips 50 minutes ago.

going to bed again....
  • #107,357
  • Dec 16, 2008 9:39pm Dec 16, 2008 9:39pm
Quoting eohater
I don't know if your calling me a Hic or what that is, but I hope your not.

So, back to the Hic, I hope that was a typo.
No, Hahaha, you make me laugh, I don't call you hic
hic =
Give me patience
  • #107,358
  • Dec 16, 2008 9:43pm Dec 16, 2008 9:43pm
Quoting Bullfx
No, Hahaha, you make me laugh, I don't call you hic
hic =

HIC = Hybrid Integrated Circuit

see also: http://acronyms.thefreedictionary.com/HIC
  • #107,359
  • Edited 10:02pm Dec 16, 2008 9:50pm | Edited 10:02pm
Quoting PipLand
I would be shocked if we go back to 5000 anytime soon.

If I manage to get a short on the table I will TP at 5480 unless im watching and price just happens to smash through. The lowest I can see this going to on my chart is 5300
Ok, you are right if on the side of a technical trader, I said 1.500 within this week, not today only, but for today it is possible to drop to 1.52, very posible.
Yesterday you may think it is very hard to gain till 1.55, and ... it did.
My prediction depends on news, only news can push us breakout, not technical and as I already said, now No More News released for USD to fall further, you understand what I mean?
You will see what U.S friends do today
Give me patience
  • #107,360
  • Dec 16, 2008 9:58pm Dec 16, 2008 9:58pm
Alright guys I have placed a sell stop at 5556

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