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Cable Update (GBPUSD)

  • #112,921
  • Jan 20, 2009 12:39am Jan 20, 2009 12:39am
Yo Guys is it time for long or just going to touch down more then 1.39xxx tonite ?
The Ottelo way's find the mutual system to wins
  • #112,922
  • Jan 20, 2009 12:42am Jan 20, 2009 12:42am
Fifo; where in Poland are you? I'm from jaroslaw

Congrats on the pips! hope you had a bigger contract on it and made a killing.. I know inflation in poland is rising higher then trumps towers. !hehehehe

Cheers
lowest draw down possible please.
  • #112,923
  • Jan 20, 2009 12:48am Jan 20, 2009 12:48am
Quoting ottelo
Yo Guys is it time for long or just going to touch down more then 1.39xxx tonite ?
still a lot lot of sellers...
  • #112,924
  • Jan 20, 2009 12:50am Jan 20, 2009 12:50am
Quoting ehrek
Fifo; where in Poland are you? I'm from jaroslaw

Congrats on the pips! hope you had a bigger contract on it and made a killing.. I know inflation in poland is rising higher then trumps towers. !hehehehe

Cheers
Warszawa.

thanks! (just luck)
  • #112,925
  • Jan 20, 2009 12:59am Jan 20, 2009 12:59am
Pasted from an FT article this morning:

Pound foolish
Published: January 19 2009 09:27 | Last updated: January 19 2009 20:30
Britain came off the gold standard in 1931, and sterling devalued by 28 per cent over the next year. The economic crisis that followed marked the end of the UK as a global power. It also led to an effective default on almost half the national debt, which was restructured into bonds still outstanding. Parallels with today are eerie. Since the middle of 2007, the trade-weighted pound has fallen by 27 per cent. Furthermore, as the government shoulders contingent liabilities for ever greater amounts of delinquent bank debt, worries are growing about the state’s finances.

British banks have about £4,000bn of assets on their balance sheets, equivalent to 2.5 times gross domestic product. If losses on these assets accelerate, the banking bail-out could segue into a sovereign debt crisis. Investors might push up borrowing costs, then, if rattled, refuse to buy UK government debt altogether, triggering another run on the pound.
Ride the Bulls bearback!
  • #112,926
  • Jan 20, 2009 1:05am Jan 20, 2009 1:05am
Quoting fifo
Warszawa.

thanks! (just luck)
Agree that CPI uk as the ground drillin driver for cable?
  • #112,927
  • Jan 20, 2009 1:15am Jan 20, 2009 1:15am
Does it not seem like the majors, at least, all seem to be looking to print money. A race to the bottom? If so, what does it portend? Will people try to get rid of the currency in favor of... what? Gold? Yes, I think. But what else? Any other currencies? The only other potential reserve currency would seem to be the Euro, no? But they are doing it too. I'll say one thing, this continues to be very interesting to watch. Its like a very large mass is weighing down and sticks are being placed here and there to prop it up but they are snapping one by one more quickly than they can be replaced, and pretty soon, BOOM! It all comes down.....
  • #112,928
  • Jan 20, 2009 1:22am Jan 20, 2009 1:22am
Haha! Just survive and enjoy ride! One day you will sit back and say to the grandkids, "I survived the Great 2007-2010 Depression. We were better off than most fortunately as we shorted cable... "

When the Oh Bam! ah takes power all the roses will bloom again... Equities will rally, money will flow and USD will see her arse touch her face.


Quoting johnnyonspot
Does it not seem like the majors, at least, all seem to be looking to print money....
Ride the Bulls bearback!
  • #112,929
  • Jan 20, 2009 1:23am Jan 20, 2009 1:23am
Will it be another 500 pips drop today like yesterday ?
  • #112,930
  • Jan 20, 2009 1:27am Jan 20, 2009 1:27am
Yeah! But down or up??

Quoting Atondra
Will it be another 500 pips drop today like yesterday ?
Ride the Bulls bearback!
  • #112,931
  • Jan 20, 2009 1:27am Jan 20, 2009 1:27am
Cable has gone back to 2001 level
  • #112,932
  • Jan 20, 2009 1:29am Jan 20, 2009 1:29am
Quoting Atondra
Cable has gone back to 2001 level
and 1993
  • #112,933
  • Jan 20, 2009 1:30am Jan 20, 2009 1:30am
Quoting alcando
Yeah! But down or up??
Down possibly since it has already drop 250 pips today. Another 250 to go
  • #112,934
  • Jan 20, 2009 1:37am Jan 20, 2009 1:37am
Well, I am loathe to sell at this level. I will look for bounces to buy most likely or just stay out. At this level it is like trying to fly from the bottom of the cliff. There may be another cliff there but not as likely as a profit taking spree. I will wait for London Footsie to open and make her mark. The CPI effect could be interesting too.

Quoting Atondra
Down possibly since it has already drop 250 pips today. Another 250 to go
Ride the Bulls bearback!
  • #112,935
  • Jan 20, 2009 1:41am Jan 20, 2009 1:41am
WOW! GOOD GOD.

WHAT A RUSH!!!! I was in GBP/USD & EURO/USD .. and I don't think I have any finger nails left..

WOOOOT! nice monies!

Caught some upswing too! Im done, met my quota.. Don't want to mess it up
lowest draw down possible please.
  • #112,936
  • Jan 20, 2009 1:50am Jan 20, 2009 1:50am
Hey Guys.

This is what I am looking at thinking that it needs to play out at some point.

Will be looking for longs at around 1.4030 historical support.
Attached Image (click to enlarge)
Click to Enlarge Name: bullishdivergence.JPG Size: 58 KB
  • #112,937
  • Jan 20, 2009 1:55am Jan 20, 2009 1:55am
Looks like no support at all and she gonna break 1.4100
  • #112,938
  • Jan 20, 2009 1:55am Jan 20, 2009 1:55am
fekkin tripped. ok. no long for me till the messiah shows a sign.


Quoting alcando
Well, I am loathe to sell at this level. I will look for bounces to buy most likely or just stay out. At this level it is like trying to fly from the bottom of the cliff. There may be another cliff there but not as likely as a profit taking spree. I will wait for London Footsie to open and make her mark. The CPI effect could be interesting too.
Ride the Bulls bearback!
  • #112,939
  • Jan 20, 2009 1:58am Jan 20, 2009 1:58am
Quoting Atondra
Looks like no support at all and she gonna break 1.4100
Not quite yet, but after a breather it might continue to move lower. The trend is our friend for as long as it will allow us to ride along with it.

Green pips to all.
  • #112,940
  • Jan 20, 2009 1:58am Jan 20, 2009 1:58am
considering all the economic data in the UK this week it wouldn't be all that surprising to see another 2000pip down week
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