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Cable Update (GBPUSD)

  • #107,361
  • Dec 16, 2008 8:12pm Dec 16, 2008 8:12pm
Quoting Bullfx
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
Just because there is no news for the US session, that does not mean that it will not move. I do not know what prompted you to say that, but you are wrong.
  • #107,362
  • Dec 16, 2008 8:17pm Dec 16, 2008 8:17pm
I have now cancel the sell stop since the market has began to widen
  • #107,363
  • Dec 16, 2008 8:34pm Dec 16, 2008 8:34pm
We are currently challenging the high of yesterday. Obviously there is a good chance we will take a bounce off the high, but with the momentum long we also could find some buy orders just above this high as well. There is not much price action so I am going to let a few candles attempt to make a high and then go short if they fail. It will be a scalp and I will lock in a few pips ASAP. If we break out of the box, I will allow it to break a second time before going long.
Attached Image (click to enlarge)
Click to Enlarge Name: cabletoday15.gif Size: 24 KB
Zone Breakout Method
  • #107,364
  • Dec 16, 2008 8:59pm Dec 16, 2008 8:59pm
I hope Cable will reach 2.1. I've opened Long just this morning.

So, will it be?
  • #107,365
  • Dec 16, 2008 9:15pm Dec 16, 2008 9:15pm
The continously of long trend will be tested on London session ! Similar to yesterday time another scalp short can be done till US open ! No more news is not influencing the long trend perhap, because US starts to build the worst economy to reduce the jobless etc. It needs more $$$ in the market and fast or slow will push the cable up then ! Yesterday abou 100 - 150 pips down during London session, assuming similar, the lowest down at about 1.5545. But I maybe wrong !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,366
  • Dec 16, 2008 9:19pm Dec 16, 2008 9:19pm
I just woke up and was tempted to go long on yesterday's high but hadn't had coffee yet so waited...

Why won't she retrace? We need an opportunity to long...

Goodmorning
  • #107,367
  • Dec 16, 2008 9:20pm Dec 16, 2008 9:20pm
Quoting AmeriTrini
Just because there is no news for the US session, that does not mean that it will not move. I do not know what prompted you to say that, but you are wrong.
could go up some more... but the cable is above the high of the range and is overbought... and the UK is worse than the US.... i think we have seen the high for the week... maybe for the month.

took another short @ 1.5700 - still down some pips on previous shorts.... but i think i got a very good entry...


now back to bed (gmt - 5)
  • #107,368
  • Dec 16, 2008 9:29pm Dec 16, 2008 9:29pm
What now guys ?
Is 1.5900 possible now ?
  • #107,369
  • Dec 16, 2008 9:31pm Dec 16, 2008 9:31pm
Quoting gagakrimba
What now guys ?
Is 1.5900 possible now ?
If we past 5750, then 5880 is very possible...
Patience + Discipline - Greed = Success
  • #107,370
  • Dec 16, 2008 9:36pm Dec 16, 2008 9:36pm
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 !
======>
Patience + Discipline - Greed = Success
  • #107,371
  • Dec 16, 2008 9:55pm Dec 16, 2008 9:55pm
Alright guys on the look for tonigh is gbp/usd ,aud/usd, usdchf long, eurusd short

looking sweet

Ill mention when I place my order in the gbpusd in this thread
  • #107,372
  • Dec 16, 2008 10:07pm Dec 16, 2008 10:07pm
When She will come Down...?


I've already opened Short @1.5614



  • #107,373
  • Dec 16, 2008 10:22pm Dec 16, 2008 10:22pm
Quoting ET-No
When She will come Down...?


I've already opened Short @1.5614



hi i,m newbie.
i also opened short 1.5614
  • #107,374
  • Edited 11:03pm Dec 16, 2008 10:25pm | Edited 11:03pm
BOE's King Should Be Aggressive, Go a Bit Too Far on Rates, Goodhart Says Bank of England Governor Mervyn King should exercise “aggressive” policies to combat the credit crisis, said Charles Goodhart, a former member of the central bank’s monetary policy committee.
Give me patience
  • #107,375
  • Dec 16, 2008 10:26pm Dec 16, 2008 10:26pm
Good luck you guys. I hope your just scalping
  • #107,376
  • Dec 16, 2008 10:28pm Dec 16, 2008 10:28pm
Quoting Bullfx
Oh good short at 1.57 and you will make hundreds pips when wake up
Now UK has more interest rate to cut than US, ha ha
what are your TP?
  • #107,377
  • Dec 16, 2008 10:31pm Dec 16, 2008 10:31pm
any new news here?

OMG good girl!

you make me sleep tight
  • #107,378
  • Dec 16, 2008 10:37pm Dec 16, 2008 10:37pm
Quoting ET-No
When She will come Down...?


I've already opened Short @1.5614



Time to lock your green pips ! She can move up suddenly !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,379
  • Dec 16, 2008 10:39pm Dec 16, 2008 10:39pm
As much as I think the trend is North now I do agree there needs to be some more retracement before the big guys will find acceptable buying prices for cable. Only yesterday Goldman Sachs were making bold statements saying that the right buying price for cable is 1.48... But then they declared a loss yesterday...

My guess is that the London traders will want some meat on their sandwich and will allow this to climb to the high or possibly even knock on the door of Mr 15860, which is a big level, before booking their Xmas bonus and shorting. We have seen a 23% retracement overnight so some profits have been booked. If you are a newbie, a short from here is unsafe and a bit of a gamble but may bear fruit. I will stay out until we test 15560 again for a possible long or retest the highs and higher.
Ride the Bulls bearback!
  • #107,380
  • Dec 16, 2008 10:46pm Dec 16, 2008 10:46pm
Quoting Bullfx
Oh good short at 1.57 and you will make hundreds pips when wake up
Now UK has more interest rate to cut than US, ha ha
Hahahahaha...........
UK IR cut will make GBP stronger
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