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Cable Update (GBPUSD)

  • #109,421
  • Jan 6, 2009 12:40pm Jan 6, 2009 12:40pm
Quoting nAVIN2007
might fall from here..
the news is too thin other then undervalued....such a rise...may cause a small retrace...for two reasons.

  1. News thursday...unsure of what it may do to the market...
  2. the rate cut may be greater then .5 specualtion of as much as 1.0

  • #109,422
  • Jan 6, 2009 12:40pm Jan 6, 2009 12:40pm
actually, if you look at the daily chart since july, today is not a remarkable move at all

quite a medium sized candle actually
  • #109,423
  • Jan 6, 2009 12:45pm Jan 6, 2009 12:45pm
  • #109,424
  • Jan 6, 2009 12:46pm Jan 6, 2009 12:46pm
Quoting JammerJams
Weel Steelhead...Are your projections for Shorts above 1.50 realistic..given that we need to be well above 1.5 do this...

I'm looking at all indicators...showing over bought. Idont think its got any steam up..It does have concerns for thursday..so..we are going to see alot of profit takers right now..and its going to drop..I give it max of 0.38%

The rest will drop tomorrow and thursday...law of physics
cant get something for nothing

First of all most on here know how I feel about indicators. To me they are garbage. It can stay in overbought mode for hours my friend.
  • #109,425
  • Jan 6, 2009 12:48pm Jan 6, 2009 12:48pm
Quoting steelhead
First of all most on here know how I feel about indicators. To me they are garbage. It can stay in overbought mode for hours my friend.
Same here.
  • #109,426
  • Jan 6, 2009 12:48pm Jan 6, 2009 12:48pm
Quoting allserene
actually, if you look at the daily chart since july, today is not a remarkable move at all

quite a medium sized candle actually
The daily chart just looks like a normal retracement from the high of 12/17 and the low of 12/31. A 50% retracement would be in the neighborhood of 1.5036. Which, coincidentally, is in the area that Steelhead says to short.
Hi, my name is Barry and you can keep your doctor...
  • #109,427
  • Jan 6, 2009 12:52pm Jan 6, 2009 12:52pm
Am i miss the train yet, my long was 1.4410 and maybe we can look long all the way this year. I strongly feel if baby goes short well it just a moment.
GELORE
  • #109,428
  • Jan 6, 2009 12:58pm Jan 6, 2009 12:58pm
Quoting trader2160
Dont forget world hunger.
Cable has found a solution to the GAZA problems
  • #109,429
  • Jan 6, 2009 1:03pm Jan 6, 2009 1:03pm
She's running again!
Hi, my name is Barry and you can keep your doctor...
  • #109,430
  • Jan 6, 2009 1:07pm Jan 6, 2009 1:07pm
Quoting fx local
trndlne on daily chart
nice chart....
Patience + Discipline - Greed = Success
  • #109,431
  • Jan 6, 2009 1:16pm Jan 6, 2009 1:16pm
There she goes again
  • #109,432
  • Jan 6, 2009 1:18pm Jan 6, 2009 1:18pm
Quoting Atondra
Cable has found a solution to the GAZA problems
shhhh not so loud.youre making it go up again
  • #109,433
  • Jan 6, 2009 1:34pm Jan 6, 2009 1:34pm
Quoting steelhead
lol

Shorts are coming into play. Im not short yet but have my eyes on shorts above redline
Obviously you didn't see what you wanted around the 14920 red line you posted earlier so you've gone to your next level.

What do you look for to qualify your short entry?
  • #109,434
  • Jan 6, 2009 1:38pm Jan 6, 2009 1:38pm
Quoting trader2160
Same here.
and here!
  • #109,435
  • Jan 6, 2009 1:52pm Jan 6, 2009 1:52pm
looking at the chart now ...it looks to me that if at 50% fibo level theres no PA to indicate down...sterling might actually recover
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  • #109,436
  • Jan 6, 2009 2:06pm Jan 6, 2009 2:06pm
Quoting Atondra
Anyone that short now is on for a surprise.
Just my gut feelings
What a real surprise
  • #109,437
  • Jan 6, 2009 2:07pm Jan 6, 2009 2:07pm
I just made the final addition to my short at 4990... In total this is a 2% trade...
Patience + Discipline - Greed = Success
  • #109,438
  • Jan 6, 2009 2:08pm Jan 6, 2009 2:08pm
Quoting Infinity
I just made the final addition to my short at 4990... In total this is a 2% trade...
I added to mine there as well brother! It's time for us to get paid now!
Just digging in the trenches like everyone else!
  • #109,439
  • Jan 6, 2009 2:10pm Jan 6, 2009 2:10pm
Quoting Infinity
I just made the final addition to my short at 4990... In total this is a 2% trade...
May the force be with you
  • #109,440
  • Jan 6, 2009 2:10pm Jan 6, 2009 2:10pm
well that was fairly mental!
I remember when I first started trading cable noting that it rarely moved more than 200 pips in one direction in a day.
Then over the summer when things started to kick off, I noticed that it became more common for a 300-400 pip move in a day,
but today when it was pushing down to 1.4500- I never considered that it was about to blow north 500 pips in a matter of hours- scary shit.
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