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Cable Update (GBPUSD)

  • #113,241
  • Jan 20, 2009 11:14am Jan 20, 2009 11:14am
Quoting PipLand
Yeah I cant imagine cable getting any real support until 3700 now, might set my TP to that and walk away
Are you going to set it at 1.37 even, or a liitle bit higher?
Also, NY market is going to close in less then 2 hour. Will it be secure to leave open position overnight for such unpredictable market/
  • #113,242
  • Jan 20, 2009 11:15am Jan 20, 2009 11:15am
Quoting PipLand
Yeah very true I wouldnt liked to have been stuck in a long!

If cable goes to 3700 all is forgiven
Tell me about it.
Probability Professor
  • #113,243
  • Jan 20, 2009 11:15am Jan 20, 2009 11:15am
Quoting Komissar
Are you going to set it at 1.37 even, or a liitle bit higher?
Also, NY market is going to close in less then 2 hour. Will it be secure to leave open position overnight for such unpredictable market/
my SL is set to BE +1 so not worried about the safety aspect.

I think it will go past 3681 which was 2001 low, so 3700 is giving it a little bit extra already i think.
  • #113,244
  • Jan 20, 2009 11:18am Jan 20, 2009 11:18am
Quoting PipLand
my SL is set to BE +1 so not worried about the safety aspect.

I think it will go past 3681 which was 2001 low, so 3700 is giving it a little bit extra already i think.
But it is another 180 pips to go! Should be sweet deal!
  • #113,245
  • Jan 20, 2009 11:21am Jan 20, 2009 11:21am
Quoting Komissar
But it is another 180 pips to go! Should be sweet deal!
Yep should be good if it comes off. Im going out at in an hour so its all or nothing for me i guess
  • #113,246
  • Jan 20, 2009 11:22am Jan 20, 2009 11:22am
Line in the sand at 1.39 is in play again. Again Cable seems to be following instead of leading the charge lower. That's ok, as long as the move continues.
  • #113,247
  • Jan 20, 2009 11:26am Jan 20, 2009 11:26am
Quoting SmoothTrader
Line in the sand at 1.39 is in play again. Again Cable seems to be following instead of leading the charge lower. That's ok, as long as the move continues.
i'll be much happier when we break 3860
  • #113,248
  • Jan 20, 2009 11:28am Jan 20, 2009 11:28am
Mervyn King speech could fuel another fall.
  • #113,249
  • Jan 20, 2009 11:31am Jan 20, 2009 11:31am
Wise words from everyone.Just a contrarian thought.We must cash in on these breakout/impulse moves.If we keep missing out we're putting ourselves at a disadvantage.
  • #113,250
  • Jan 20, 2009 11:32am Jan 20, 2009 11:32am
hey guys... i've been doing a lot of correlation research trying to find ways to validate moves... ect.. and find/ride longer term trends.

The main thing I was trying to figure out was when a reversal was happening... a lot of the time a close above the 50 ema on whatever timeframe was suppose to be a big deal.. well about 50% of the time it's not. So, I did some back testing with some things and found that once the 7ema and 50 ema cross it's a valid reversal... or if it's not... you know very quickly for small loss... however.. the wins.. are very healthy.. obviously you combine this with upper level trends and other things you see for exits ect.... but right off the bat seems to work GREAT.

anyone else see/use this? I know it seems very simple... just thinking of adding it to the chamber of entries I use. I use the 7/21/50 ema for all my entries/exits/trend definition.. so this fits me well
DireXiv Make it happen, no one else is going to do it for you...
  • #113,251
  • Jan 20, 2009 11:36am Jan 20, 2009 11:36am
anyone know what time the swerve speaks?
  • #113,252
  • Jan 20, 2009 11:38am Jan 20, 2009 11:38am
Quoting Yohay
Mervyn King speech could fuel another fall.
I think he has to be very careful with his wording, even try to place a positive spin on the recent policy action announced by the government, as his previous speeches have sparked a major sell-off in sterling, which was a desirable consequence at the time.

However, after seeing a 1,000 pip fall within two sessions, the UK can ill afford to run the risk of a further swift move to below 1.30 by the end of this week, for example, as such a swing would likely see foreign investors finally lose patience and start demanding higher risk premiums for holding sterling denominated assets, or just dumping them altogether.
  • #113,253
  • Jan 20, 2009 11:41am Jan 20, 2009 11:41am
Quoting gammase1
I think he has to be very careful with his wording, even try to place a positive spin on recent policy action announced by the government, as previous speeches have sparked a major sell-off in sterling, which was a desirable consequence at the time.

However, after seeing a 1,000 pip fall within two sessions, the UK can ill afford to run the risk of a further swift move to below 1.30 by the end of this week, as such a swing would likely see foreign investors lose patience and start demanding higher risk premiums for holding sterling denominated assets, or just dumping them altogether.
Sounds like im in a gd position then.
  • #113,254
  • Jan 20, 2009 11:42am Jan 20, 2009 11:42am
Quoting fry2010
Sounds like im in a gd position then.
Who knows how it will turn out...

Guessing you are long, friend. If so, good luck
  • #113,255
  • Jan 20, 2009 11:44am Jan 20, 2009 11:44am
u must be missing my posts, i have been short all today.
I only say gd position cause here in uk we only have bad news lol.
  • #113,256
  • Jan 20, 2009 11:46am Jan 20, 2009 11:46am
Quoting fry2010
u must be missing my posts, i have been short all today.
You must have missed the inference in my post then.
  • #113,257
  • Jan 20, 2009 11:49am Jan 20, 2009 11:49am
i suppose i did as I dont even understand that word. lol
  • #113,258
  • Jan 20, 2009 12:01pm Jan 20, 2009 12:01pm
As great as it is to see the sense of hope with Obama in office and the Bush out of there at last, I can't help watching these market moves with a sense of hope in gloom. Maybe a few words of condolence from the Swervin King and a nice little optimistic equities rally could give us some more hope that cable will remain a trade able entity and not just a wet rag that everyone drags down to the bogs.

If cable doesnt find a bottom I think I will take a trade break for a few days and let her get her act together as I just can't short these levels and she has so little backbone for longs. A little bored of seeing my stops tapped at +2.5pips (That's 25% more than most)

come on sweetheart, I don't want the pips, I just want to see some spirit...
Ride the Bulls bearback!
  • #113,259
  • Jan 20, 2009 12:02pm Jan 20, 2009 12:02pm
King comments are out but they don't seem that promising or damaging...
Ride the Bulls bearback!
  • #113,260
  • Jan 20, 2009 12:04pm Jan 20, 2009 12:04pm
Quoting alcando
King comments are out but they don't seem that promising or damaging...

WHERE????
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