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Cable Update (GBPUSD)

  • #112,041
  • Jan 16, 2009 3:27am Jan 16, 2009 3:27am
Quoting gammase1
There's no spike, Al.

It's just the contango on the futures contract, as they move from showing the Feb 09 to Mar 09 contract, as their benchmark quote.
cotango is when the forward price is greater than the current spot price, correct?
i dont understand then, why is my current spot so high?
Keep It Simple Stupid
  • #112,042
  • Jan 16, 2009 3:34am Jan 16, 2009 3:34am
Oil producers are so desperate for cash that they're willing to take money now even if it's way less than they could get for the same stuff six months from now.

This is one explanation. Another could be associated with holding inventory costs...
  • #112,043
  • Jan 16, 2009 3:35am Jan 16, 2009 3:35am
Quoting Alastair
cotango is when the forward price is greater than the current spot price, correct?
i dont understand then, why is my current spot so high?
You're right, contango is the steepness of the forward cuve.

What spot contract do they use? Who's your broker?
  • #112,044
  • Jan 16, 2009 3:40am Jan 16, 2009 3:40am
Quoting gammase1
You're right, contango is the steepness of the forward cuve.

What spot contract do they use? Who's your broker?
im with GCI
Keep It Simple Stupid
  • #112,045
  • Jan 16, 2009 3:44am Jan 16, 2009 3:44am
Quoting Alastair
im with GCI
Can only think they're quoting a Feb contract as their main crude oil quote.

WTI spot is trading just over $35 a barrel right now
  • #112,046
  • Jan 16, 2009 3:47am Jan 16, 2009 3:47am
There she goes
  • #112,047
  • Jan 16, 2009 3:50am Jan 16, 2009 3:50am
Quoting Atondra
There she goes

time to short
  • #112,048
  • Jan 16, 2009 3:53am Jan 16, 2009 3:53am
Quoting blurrcow
time to short
good luck to the guy who is LONG at 4955 !!
  • #112,049
  • Jan 16, 2009 3:58am Jan 16, 2009 3:58am
Quoting blurrcow
time to short
u dare to short? Bears still sleeping hehe..

1.5xxx by/in US session?
  • #112,050
  • Jan 16, 2009 3:59am Jan 16, 2009 3:59am
Quoting blurrcow
good luck to the guy who is LONG at 4955 !!


i'm south at 4958 , time to TS
  • #112,051
  • Jan 16, 2009 4:01am Jan 16, 2009 4:01am
Quoting MrMY
u dare to short? Bears still sleeping hehe..

1.5xxx by/in US session?
I think no noeed to worry as long as been secured in green pips ! I short again at 1.4950, mean while waiting for the best place at D/50ema - 1.5055.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #112,052
  • Jan 16, 2009 4:01am Jan 16, 2009 4:01am
Quoting blurrcow
good luck to the guy who is LONG at 4955 !!
i was long @4814 closed @4920... time to rest
  • #112,053
  • Jan 16, 2009 4:03am Jan 16, 2009 4:03am
Quoting fifo
i was long @4814 closed @4920... time to rest
I think it's a good call.
It's time for the pound to turn around...
  • #112,054
  • Jan 16, 2009 4:05am Jan 16, 2009 4:05am
Quoting gammase1
Can only think they're quoting a Feb contract as their main crude oil quote.

WTI spot is trading just over $35 a barrel right now
i was told by my broker they trade oilo futures and it has rolled.
Keep It Simple Stupid
  • #112,055
  • Jan 16, 2009 4:08am Jan 16, 2009 4:08am
Quoting Alastair
i was told by my broker they trade oilo futures and it has rolled.
So it's just the contango effect you've seen and not a spike.
  • #112,056
  • Jan 16, 2009 4:10am Jan 16, 2009 4:10am
Quoting fifo
i was long @4814 closed @4920... time to rest
How nice job !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #112,057
  • Jan 16, 2009 4:10am Jan 16, 2009 4:10am
Quoting manize
I think no noeed to worry as long as been secured in green pips ! I short again at 1.4950, mean while waiting for the best place at D/50ema - 1.5055.
What did you base that trade on?
  • #112,058
  • Jan 16, 2009 4:20am Jan 16, 2009 4:20am
Quoting daffy
What did you base that trade on?
Based on MT4 chart, ema, pivot and manually draw trend line !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #112,059
  • Jan 16, 2009 4:24am Jan 16, 2009 4:24am
Thank you for pointing these out, some of these actually blown my account before.

Quoting Professor4x
[list=1][*]Overuse of leverage:[*]Lack of trading plan:[*]Lack of money management:[*]Failure to use a stop:[*]Accept a losing trade:[*]Hope: Lack of proper discipline is hope.[*]Capital preservation:[*]Taking quick profits and letting losses run[*]Overstaying your position:[*][b][color=#001596]Over...
Many happy pips returned ...
  • #112,060
  • Jan 16, 2009 4:25am Jan 16, 2009 4:25am
Quoting MrMY
u dare to short? Bears still sleeping hehe..

1.5xxx by/in US session?
just closed for +30 pips... i think there is more downside than upside at this point... just my view... pls dont follow
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