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Cable Update (GBPUSD)

  • #112,081
  • Edited 6:19am Jan 16, 2009 6:12am | Edited 6:19am
Quoting uut
OK 80 pips closed.

well gentlemen, and ladies (if there's any), shall the GU will rise or down at US market hour?
The 15m 10ema has provided solid support over the past couple of hours for the pair, in addition to the recent surge in equities - which has kept the pair heavy on the bid.

It will be interesting to see the effect on Cable from any pullback in equities and a break of this support.

I'm short at 1.4955
  • #112,082
  • Jan 16, 2009 6:26am Jan 16, 2009 6:26am
Quoting gammase1
The 15m 10ema has provided solid support over the past couple of hours for the pair, in addition to the recent surge in equities - which has kept the pair heavy on the bid.

It will be interesting to see the effect on Cable from any pullback in equities and a break of this support.

I'm short at 1.4955
good luck mate.The connection b/w cable and the stocks is a bit too strong at the moment.
  • #112,083
  • Jan 16, 2009 6:28am Jan 16, 2009 6:28am
I hear you mate. I have one at exactly the same trigger point. I was hoping she would fetch the big guns at the obvious tough level of 15000-ish which has a fib level, S&R and an obvious friend to the US shorting squad but 14960 is a big enough level in her own right. Oh well. It's all or nothing from there and nothing to lose. I can't see equities continuing this rally. Risk-Reward ratio favours the shorts from the right level.

Footsie is struggling to break 42590 and keeps bouncing on it and Dow futures are bouncing off last weeks lows. If they sustain these levels beyond the bad news items, I'll eat my smelly socks.

Quoting gammase1
The 15m 10ema has provided solid support over the past couple of hours for the pair, in addition to the recent surge in equities - which has kept the pair heavy on the bid.

It will be interesting to see the effect on Cable from any pullback in equities and a break of this support.

I'm short at 1.4955
Ride the Bulls bearback!
  • #112,084
  • Jan 16, 2009 6:29am Jan 16, 2009 6:29am
Quoting gammase1
The 15m 10ema has provided solid support over the past couple of hours for the pair, in addition to the recent surge in equities - which has kept the pair heavy on the bid.

It will be interesting to see the effect on Cable from any pullback in equities and a break of this support.

I'm short at 1.4955
well i see two spinning tops like yesterday. . it seems it's time to short
but i; wait the nest candle (15M) closed

patience - patience
  • #112,085
  • Jan 16, 2009 6:33am Jan 16, 2009 6:33am
Quoting Professor4x
If your trading you may want to check the gap at 136.17 to 136.57 because it looks to be heading that way now since we doubled bottomed at 129 and failed to create new down trend channel. Just a thought
Hope you kids caught this move gave it yesterday and it was nice winner!
  • #112,086
  • Jan 16, 2009 6:34am Jan 16, 2009 6:34am
Quoting alcando
I hear you mate. I have one at exactly the same trigger point. I was hoping she would fetch the big guns at the obvious tough level of 15000-ish which has a fib level, S&R and an obvious friend to the US shorting squad but 14960 is a big enough level in her own right. Oh well. It's all or nothing from there and nothing to lose. I can't see equities continuing this rally. Risk-Reward ratio favours the shorts from the right level.

Footsie is struggling to break 42590 and keeps bouncing on it and Dow futures are bouncing off last weeks lows. If...
There will probably be little movement in Cable between now and the CPI data release in a hour from now. Equities are exeriencing a relief rally on the back of the announcements from Citi and BoA. I agree that r/r favours shorts, particularly as we've already seen a 300 pip daily move to the upside. But, as we've often seen, anything can and will happen.

Time for a coffee, I think!
  • #112,087
  • Jan 16, 2009 6:34am Jan 16, 2009 6:34am
Oh! Was this your move??
Quoting Professor4x
Hope you kids caught this move gave it yesterday and it was nice winner!
Ride the Bulls bearback!
  • #112,088
  • Jan 16, 2009 6:37am Jan 16, 2009 6:37am
personally still looking to long until daily daily 50ema around 5058. 5m 50ema has been supporting the entire rise, 1h 5sma too
  • #112,089
  • Jan 16, 2009 6:37am Jan 16, 2009 6:37am
Quoting alcando
Oh! Was this your move??
Filled the gap that was an easy one. Buying dips on gbp today and waiting for opportunity after cpi news. Fundamentals trigger technicals but market always goes back to technicals.
  • #112,090
  • Jan 16, 2009 6:38am Jan 16, 2009 6:38am
I hear you. But I suspect we should see a bit of profit taking in nervous anticipation of the data so I will stay short targeting the 76 fib at approx 14850 or just blow the whole wad..

Quoting gammase1
There will probably be little movement in Cable between now and the CPI data release in a hour from now. Equities are exeriencing a relief rally on the back of the announcements from Citi and BoA. I agree that r/r favours shorts, particularly as we've already seen a 300 pip daily move to the upside. But, as we've often seen, anything can and will happen.

Time for a coffee, I think!
Ride the Bulls bearback!
  • #112,091
  • Jan 16, 2009 6:45am Jan 16, 2009 6:45am
this overnight move very overdone here. Looks like the big 1.50 number won't be tested until we get a retracement. Look at 4 hr chart and the bolligers' have screaming short signal. 2 hr stoc's 85 with crossover and 4 hr stoc's 89. That means gbp/jpy will go south with her as well since for past 6 months gbp has been driver on gbp/jpy. Looking to sell any rally with tight stop above 1.50
  • #112,092
  • Jan 16, 2009 6:54am Jan 16, 2009 6:54am
Quoting Professor4x
this overnight move very overdone here. Looks like the big 1.50 number won't be tested until we get a retracement. Look at 4 hr chart and the bolligers' have screaming short signal. 2 hr stoc's 85 with crossover and 4 hr stoc's 89. That means gbp/jpy will go south with her as well since for past 6 months gbp has been driver on gbp/jpy. Looking to sell any rally with tight stop above 1.50
Expect the cpi at 830am to be dollar bullish its clearly a reason to buy dollars based on techs
  • #112,093
  • Jan 16, 2009 6:58am Jan 16, 2009 6:58am
Quoting Professor4x
Expect the cpi at 830am to be dollar bullish its clearly a reason to buy dollars based on techs
30 min stoc's show a big momentum break south. Whenever you see a current market price heading south at 5-6 on clock its a good contiuation signal. If at 12-1 heading north means pressure to upside. That move alone should trigger the further south action. Sell the rally as close to 4950 and stop at 1.5015 target 1.48. Use low leverage and you can tolerate this small channel she is in.
  • #112,094
  • Jan 16, 2009 7:02am Jan 16, 2009 7:02am
Hope you guys don't mind me throwing my 2 cents worth in here. I'm expecting a new high (all be it a minor one), before we see a retracement back into the 1.4790 zone.

We'll have to see where we stand come market close today, and revisit that call then....
  • #112,095
  • Jan 16, 2009 7:03am Jan 16, 2009 7:03am
Quoting Professor4x
30 min stoc's show a big momentum break south. Whenever you see a current market price heading south at 5-6 on clock its a good contiuation signal. If at 12-1 heading north means pressure to upside. That move alone should trigger the further south action. Sell the rally as close to 4950 and stop at 1.5015 target 1.48. Use low leverage and you can tolerate this small channel she is in.
short 4930 stop 5015 target 1.48
  • #112,096
  • Jan 16, 2009 7:05am Jan 16, 2009 7:05am
Quoting Professor4x
this overnight move very overdone here. Looks like the big 1.50 number won't be tested until we get a retracement. Look at 4 hr chart and the bolligers' have screaming short signal. 2 hr stoc's 85 with crossover and 4 hr stoc's 89. That means gbp/jpy will go south with her as well since for past 6 months gbp has been driver on gbp/jpy. Looking to sell any rally with tight stop above 1.50

man , i love u, any way, how old are you?
  • #112,097
  • Jan 16, 2009 7:06am Jan 16, 2009 7:06am
Quoting 200ema
Hope you guys don't mind me throwing my 2 cents worth in here. I'm expecting a new high (all be it a minor one), before we see a retracement back into the 1.4790 zone.

We'll have to see where we stand come market close today, and revisit that call then....
Well you are a very reliable eMa.we have to listen to you lol.

Welcome to the forum.
  • #112,098
  • Jan 16, 2009 7:07am Jan 16, 2009 7:07am
Quoting 200ema
Hope you guys don't mind me throwing my 2 cents worth in here. I'm expecting a new high (all be it a minor one), before we see a retracement back into the 1.4790 zone.

We'll have to see where we stand come market close today, and revisit that call then....
same as my prediction. Looking for the daily 50ema before selling, and the weekly chart is just about to scream long
  • #112,099
  • Jan 16, 2009 7:07am Jan 16, 2009 7:07am
Quoting uut
man , i love u, any way, how old are you?
Hit 75% winning trades and last year made over 800% documented, 07 made 85% documented, 06 made 297% documented. Been trading for 23 yrs
  • #112,100
  • Jan 16, 2009 7:09am Jan 16, 2009 7:09am
Quoting ezodisy
same as my prediction. Looking for the daily 50ema before selling, and the weekly chart is just about to scream long
Daily is catalyst for weekly and since the current differential on daily market price from moving avgerage price is greater than 15 it will not issue reversal yet because their is too much disparity between the two. But it's close and should happen no later than tuesday
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