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Cable Update (GBPUSD)

  • #113,021
  • Jan 20, 2009 5:00am Jan 20, 2009 5:00am
Quoting Bullfx
FTSE is green +0.8% . CPI is not as bad as expected: actual: 3.1, forecast: 2.6.
I long GU now, it should retrace
FTSE is selling off, due to investors, once again, dumping financials...

Concerns and uncertainty over financials are currently the main fundamental driver for this pair.
  • #113,022
  • Jan 20, 2009 5:01am Jan 20, 2009 5:01am
Quoting cisco
I used to see Jimbo in the late 90's screaming gloom and doom for the dollar. He hasn't changed!
He is a very entertaining guy though. I like his "hell, I'm the worst market timer" appraisal of his trading abilities....
  • #113,023
  • Jan 20, 2009 5:02am Jan 20, 2009 5:02am
Quoting ottelo
is it time for go long or just.......
Given my recent trades if I go short, you should all go long and visa versa.
  • #113,024
  • Jan 20, 2009 5:03am Jan 20, 2009 5:03am
Quoting big2mac
Given my recent trades if I go short, you should all go long and visa versa.
pls go long then !
  • #113,025
  • Jan 20, 2009 5:05am Jan 20, 2009 5:05am
Lloyds Banking Group down 25% on the day, heance the latest drop in Cable in past few minutes.

Guys, monitor UK financials (BARC, LLOY, RBS, HSBA) today in addition to your Cable charts.
  • #113,026
  • Jan 20, 2009 5:15am Jan 20, 2009 5:15am
Good morning, everybody.
It looks like I missed a great slide down.
But she touched 3975 several times already. Should I buy ticket for up ride?
  • #113,027
  • Jan 20, 2009 5:18am Jan 20, 2009 5:18am
Quoting Komissar
Good morning, everybody.
It looks like I missed a great slide down.
But she touched 3975 several times already. Should I buy ticket for up ride?
Are you monitoring today's movements in UK financial stocks?

If not, you definitely should be.
  • #113,028
  • Jan 20, 2009 5:18am Jan 20, 2009 5:18am
should we buy now using large lots?
ROBOT FOREX
  • #113,029
  • Jan 20, 2009 5:18am Jan 20, 2009 5:18am
Quoting Komissar
Good morning, everybody.
It looks like I missed a great slide down.
But she touched 3975 several times already. Should I buy ticket for up ride?
I wouldnt be buying any longs just yet, cant see any reason too.

No signs of a reversal, EG id supported by a fib level and EU is being pushed ever further down by a falling trendline
  • #113,030
  • Jan 20, 2009 5:22am Jan 20, 2009 5:22am
Lloyds down 45% on the day...
  • #113,031
  • Jan 20, 2009 5:25am Jan 20, 2009 5:25am
Quoting Forbes55
should we buy now using large lots?
What would be your target for a long though to justify large lots?

For me if I was going long from here I wouldnt be targeting more than 1.4125 and risk is down to 1.3681 in the short term
  • #113,032
  • Jan 20, 2009 5:29am Jan 20, 2009 5:29am
Quoting gammase1
Are you monitoring today's movements in UK financial stocks?

If not, you definitely should be.
O-ops! I missed your previous warning. You're right, better wait for now.
Also, there will be a huge event in DC today, and it may push $ up, just sentimentally.
  • #113,033
  • Jan 20, 2009 5:30am Jan 20, 2009 5:30am
Quoting PipLand
and risk is down to 1.3681 in the short term
The daily H&S shows potential for 1.3200 area.
Hi, my name is Barry and you can keep your doctor...
  • #113,034
  • Jan 20, 2009 5:32am Jan 20, 2009 5:32am
Quoting Komissar
O-ops! I missed your previous warning. You're right, better wait for now.
Also, there will be a huge event in DC today, and it may push $ up, just sentimentally.
not saying to wait for now or to place a trade. just be aware of what's driving this latest move, that's all. don't just rely on charts and/or gut instinct, also consider the fundamental story surrounding the UK banks when you are planning any trades.
  • #113,035
  • Jan 20, 2009 5:36am Jan 20, 2009 5:36am
Quoting PipLand
What would be your target for a long though to justify large lots?

For me if I was going long from here I wouldnt be targeting more than 1.4125 and risk is down to 1.3681 in the short term
if we break 1.3950..... i think it will continue to go south... next 15-min is crucial...
  • #113,036
  • Jan 20, 2009 5:37am Jan 20, 2009 5:37am
Seems to be pausing a bit here. Is it consolidation before another crack at 1.40 or a pause before the next wave of selling?
  • #113,037
  • Jan 20, 2009 5:38am Jan 20, 2009 5:38am
Quoting cisco
The daily H&S shows potential for 1.3200 area.
True we could easily see 1.3200, i expect 1.3681 area to provide some short term support. Wont know till we get there though.

Wish I shorted at 1.4020 now but i wanted to see a better retrace before going short, oh well I'll just carry on watching and waiting.
  • #113,038
  • Jan 20, 2009 5:40am Jan 20, 2009 5:40am
Quoting PipLand
True we could easily see 1.3200, i expect 1.3681 area to provide some short term support. Wont know till we get there though.

Wish I shorted at 1.4020 now but i wanted to see a better retrace before going short, oh well I'll just carry on watching and waiting.
I know what you mean but it's better to wish you'd done something than regret you did something.
  • #113,039
  • Jan 20, 2009 5:41am Jan 20, 2009 5:41am
Quoting SmoothTrader
Seems to be pausing a bit here. Is it consolidation before another crack at 1.40 or a pause before the next wave of selling?
just a pause before cable gets crapped on!! I think anyway.

Its just too low for me to short now though
  • #113,040
  • Jan 20, 2009 5:43am Jan 20, 2009 5:43am
Quoting PipLand
just a pause before cable gets crapped on!! I think anyway.

Its just too low for me to short now though

I love these technical trading terms. Very descriptive if I say so myself.
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