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Cable Update (GBPUSD)

  • #113,081
  • Jan 20, 2009 6:37am Jan 20, 2009 6:37am
Quoting steelhead
I will be long no doubt at the close of the four hour candle in 30 minutes. Value folks Value
May you show us the plattform ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #113,082
  • Jan 20, 2009 6:38am Jan 20, 2009 6:38am
Quoting steelhead
I will be long no doubt at the close of the four hour candle in 30 minutes. Value folks Value
Careful bro... unless you are going in for longer term longs. Price action suggests at least 1.37 is coming... I won't short here but I won't long yet either... this price action is similar to when we broke the big bad 1.934x level last year...
Patience + Discipline - Greed = Success
  • #113,083
  • Jan 20, 2009 6:41am Jan 20, 2009 6:41am
Quoting Infinity
I agree with you 100% bro! I am not in a trade now... I closed my shorts at 4050 but looking at this now... sentiment and price action.... I wouldn't be suprised to see 1.36xx broken this time...
Indeed.even if it rises,people will start piling on the shorts at 1.40-1.4050.
  • #113,084
  • Jan 20, 2009 6:43am Jan 20, 2009 6:43am
Quoting trader2160
Indeed.even if it rises,people will start piling on the shorts at 1.40-1.4050.
Also.... Judging by what I see on eu, fall aint done yet....
Patience + Discipline - Greed = Success
  • #113,085
  • Jan 20, 2009 6:46am Jan 20, 2009 6:46am
Quoting manize
May you show us the plattform ?


Look at that four hour chart. Its screaming at me to go long. Reason everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs
Attached Image (click to enlarge)
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  • #113,086
  • Jan 20, 2009 6:46am Jan 20, 2009 6:46am
Quoting trader2160
Indeed.even if it rises,people will start piling on the shorts at 1.40-1.4050.
Just to remind who will short there, should dare to set the SL 50 - 100 pips !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #113,087
  • Jan 20, 2009 6:46am Jan 20, 2009 6:46am
Quoting fx local
hey guys,

looking a monthly chart going back 30 years, the major support points are 1.3690 - could get there today(i wouldnt entertain any longs until that reached), 1.3000, then not much until 1.0486 1983 low.....

counter trend trading is inherently dangerous as shown today if not used with good MM and timing.....

market tone is inherently unfavorable for sterling... there was a wedge pattern on daily that held on upside, now consequently broken down, selling rallies until something changes......
looking forward to a rally!

EU is back under trendline now as well
  • #113,088
  • Jan 20, 2009 6:47am Jan 20, 2009 6:47am
we may be range bound for a while between the 1.39 and 1.40 levels which make up the support/resistance levels back to 2001.
  • #113,089
  • Jan 20, 2009 6:49am Jan 20, 2009 6:49am
Quoting steelhead
Look at that four hour chart. Its screaming at me to go long. Reaon everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs
Thanks bro !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #113,090
  • Jan 20, 2009 6:50am Jan 20, 2009 6:50am
Quoting steelhead
Look at that four hour chart. Its screaming at me to go long. Reason everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs
My 4hr doesn't have a blue candle, probably due to broker timezone difference.
  • #113,091
  • Jan 20, 2009 6:51am Jan 20, 2009 6:51am
Apparently there was a rumour that S&p and Fitch were about to cut UKs rating.This has just been denied by both.
  • #113,092
  • Jan 20, 2009 6:51am Jan 20, 2009 6:51am
Quoting steelhead
Look at that four hour chart. Its screaming at me to go long. Reason everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs

http://business.timesonline.co.uk/to...cle5552136.ece

However, sterling continued to plunge today and Jim Rogers, who co-founded the Quantum fund with George Soros, the billionaire investor, told Bloomberg: “I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the UK”.

In 1970, Rogers joined Arnhold & S. Bleichroeder, where he met George Soros. That same year, Rogers and Soros founded the Quantum Fund. During the following 10 years the portfolio gained 4200% while the S&P advanced about 47%.[1] It was one of the first truly international funds.

hard to argue with that kind of legendary performance!!
Trading is 80% Emotional, 20% Technical
  • #113,093
  • Jan 20, 2009 6:53am Jan 20, 2009 6:53am
Got used to the moves from Asia and early London. Is lunch over yet in London so we can start to move again, either up or down, I don't care which way for now.
  • #113,094
  • Jan 20, 2009 6:54am Jan 20, 2009 6:54am
Quoting fx local
http://business.timesonline.co.uk/to...cle5552136.ece

However, sterling continued to plunge today and Jim Rogers, who co-founded the Quantum fund with George Soros, the billionaire investor, told Bloomberg: “I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the UK”.

In 1970, Rogers joined Arnhold & S. Bleichroeder, where he met George Soros. That same year, Rogers...
as I pointed out earlier, he was also screaming to buy crude oil when the price fell from $147 to $127, and fell again to $117... citing the pullback had presented a great buying opportunity. a legendary investor, no doubt, but, like everyone else, he does make mistakes.
  • #113,095
  • Jan 20, 2009 6:54am Jan 20, 2009 6:54am
Quoting steelhead
Look at that four hour chart. Its screaming at me to go long. Reason everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs
The question is, at which point?

I've been bitten 3 times going long at various support levels.

This Mofo is breaking every support there is.
If it's too good to be true, it probably is.
  • #113,096
  • Jan 20, 2009 6:55am Jan 20, 2009 6:55am
Quoting steelhead
Well good luck with that. Go ahead and short it atleast you know who will be on the otherside of the trade.
I thought you were going long 400 pips ago?
  • #113,097
  • Jan 20, 2009 6:56am Jan 20, 2009 6:56am
Quoting fx local
http://business.timesonline.co.uk/to...cle5552136.ece

However, sterling continued to plunge today and Jim Rogers, who co-founded the Quantum fund with George Soros, the billionaire investor, told Bloomberg: “I would urge you to sell any sterling you might have. It’s finished. I hate to say it, but I would not put any money in the UK”.

In 1970, Rogers joined Arnhold & S. Bleichroeder, where he met George Soros. That same year, Rogers...

Unless he is buying cable and wanting to create a better price. I am buying thats just me
  • #113,098
  • Jan 20, 2009 6:58am Jan 20, 2009 6:58am
Quoting steelhead
Look at that four hour chart. Its screaming at me to go long. Reason everyone and their mother thinks its nothing but short. Remember think opposite the herd cause the herd losses.

Im liking longs
Looks like London wants to paint the chart (4hr & 1hr) a bit more negative.
  • #113,099
  • Jan 20, 2009 6:58am Jan 20, 2009 6:58am
Quoting Jal
I thought you were going long 400 pips ago?

I never went long 400 pips ago. I havent taken a trade on cable for awhile. I trade euro/aussie almost exclusively now.

4260 might be where you are talking about from yesterday,but i didnt take the trade some in here did
  • #113,100
  • Jan 20, 2009 7:00am Jan 20, 2009 7:00am
Quoting gammase1
as I pointed out earlier, he was also screaming to buy crude oil when the price fell from $147 to $127, and fell again to $117... citing the pullback had presented a great buying opportunity. a legendary investor, no doubt, but, like everyone else, he does make mistakes.
yes of course, but he was long before the begining of the bull market in crude catching the run up from 30 to 140, you may argue his comments could well of provided the catalyst of todays swing lower....
Trading is 80% Emotional, 20% Technical
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