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Cable Update (GBPUSD)

  • #117,361
  • Feb 3, 2009 9:26am Feb 3, 2009 9:26am
Quoting joemiami
5 min chart showing bearish diverg on MACD
Care to share your chart... I don't see it on my MACD (12,26,9)
  • #117,362
  • Feb 3, 2009 9:26am Feb 3, 2009 9:26am
Quoting yorker
I will try get short about 1.45 for now long to 1.4495
i think it will try 2 breakout 451x.....if not it will turn back...if can it will go to r3...whatever better think before make decition whether long r short....lower tf will effect higher tf 4 short time....after that it follow back
  • #117,363
  • Feb 3, 2009 9:28am Feb 3, 2009 9:28am
Quoting nAVIN2007
news is there to confuse, ....emotions cant change market direction unless your trading noise.....plain and simple
naVIN is correct..all the reports are just noise..for the immediate. Do not ever measure proper direction as reports come out.

A positive report for USD may give other struggling countries hope..or a light at the end of the tunnel and so the worst "such as England" may see hope. Only emotion...so..stay the course and trade the trades
  • #117,364
  • Feb 3, 2009 9:30am Feb 3, 2009 9:30am
Quoting nAVIN2007
news is there to confuse, ....emotions cant change market direction unless your trading noise.....plain and simple. Since this year started i havent once looked at the news calender, except just now cause somebody mentioned it and im having much added success....

it all depends on yur time frame i guess
news is there to confuse ...can u explain more details ....
  • #117,365
  • Feb 3, 2009 9:30am Feb 3, 2009 9:30am
Quoting Vourvoul
Care to share your chart... I don't see it on my MACD (12,26,9)
......
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 11 KB
  • #117,366
  • Feb 3, 2009 9:33am Feb 3, 2009 9:33am
Quoting joemiami
......
drop may be coming now...only time will tell..but I see a nice resistence holding
I see a nice spike..and if we sit here for the 1 hour period..we should see the movement downward...

careful with placing longs right now..
  • #117,367
  • Feb 3, 2009 9:35am Feb 3, 2009 9:35am
Quoting JammerJams
naVIN is correct..all the reports are just noise..for the immediate. Do not ever measure proper direction as reports come out.

A positive report for USD may give other struggling countries hope..or a light at the end of the tunnel and so the worst "such as England" may see hope. Only emotion...so..stay the course and trade the trades

so let me guess the crash of cable and euro was merely technical, it clearly had nothing to do with the realisation that hte debt bubble had been pierced and the NEWS of the sub prime mortgage crash followed by a string of banks collapsing.
Everyone on here are way too obssessed with technicals that they blind themselves to the fundamental factors that clearly drive the economy. Technicals do work but there are certain thing that are out of our control. A drop in interest rates, a stimulus plan or just a governments desire to significantly affect the currency rates destroy technicals
  • #117,368
  • Feb 3, 2009 9:36am Feb 3, 2009 9:36am
Quoting joemiami
......

Thanks joe.
  • #117,369
  • Feb 3, 2009 9:37am Feb 3, 2009 9:37am
Quoting JammerJams
drop may be coming now...only time will tell..but I see a nice resistence holding
I see a nice spike..and if we sit here for the 1 hour period..we should see the movement downward...

careful with placing longs right now..
I reckon we'll get to 4415, might consider shorting it from there, I dont think these are easy times to be trading cable for sure
  • #117,370
  • Feb 3, 2009 9:38am Feb 3, 2009 9:38am
Quoting JammerJams
drop is coming now...
will see top at this level..I see a nice spike..and if we sit here for the 1 hour period..we should see the movement downward...

careful with placing longs right now..

Ive been short since 1.4373 .....let's see how far she willing to travel........ any targets?
  • #117,371
  • Feb 3, 2009 9:40am Feb 3, 2009 9:40am
Quoting joemiami
Ive been short since 1.4373 .....let's see how far she willing to travel........ any targets?
I'm short from 4390, targeting 4250 area, I've taken profit on half the trade at 4350 and will add again should she go back up.
Just digging in the trenches like everyone else!
  • #117,372
  • Feb 3, 2009 9:41am Feb 3, 2009 9:41am
Here's my 4h
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 137 KB
Just digging in the trenches like everyone else!
  • #117,373
  • Feb 3, 2009 9:42am Feb 3, 2009 9:42am
Quoting ntoller
so let me guess the crash of cable and euro was merely technical, it clearly had nothing to do with the realisation that hte debt bubble had been pierced and the NEWS of the sub prime mortgage crash followed by a string of banks collapsing.
Everyone on here are way too obssessed with technicals that they blind themselves to the fundamental factors that clearly drive the economy. Technicals do work but there are certain thing that are out of our control. A drop in interest rates, a stimulus plan or just a governments desire to significantly affect...

"Ah..my dear ntoller" I may need to clarify..I too am a bit in trading fundamentals..but...tech trading is viiewed as a way to fly in a sand storm. If we trade using only fundamentals..then we will have a confusing and unrealistic approach. The trick is to trade technical..and support our decision with fundamentals..they support our trades..but...do not lead them. Importance of News does affect trading. But should not be our lead decision.

Otherwise..we are in the middle of the noise..and trading becomes emotional
  • #117,374
  • Feb 3, 2009 9:43am Feb 3, 2009 9:43am
Quoting laharjaya
news is there to confuse ...can u explain more details ....
trading is all about elimating emotions, correct?
news comes out, and u trade based on the figures...are u trading with emotions or with anything capable of changing market sentiment.

news releases and trying to figure out how its going to effect the market is a near impossible task, if even possible.

but dont try to discount news on a time frame less than 4hrs
  • #117,375
  • Feb 3, 2009 9:45am Feb 3, 2009 9:45am
Quoting eohater
I'm short from 4390, targeting 4250 area, I've taken profit on half the trade at 4350 and will add again should she go back up.
Great entry bro.Ive got something similar going in Aus/U.Dollars looking a bit deflated today though.
  • #117,376
  • Feb 3, 2009 9:46am Feb 3, 2009 9:46am
Quoting trader2160
Great entry bro.Ive got something similar going in Aus/U.Dollars looking a bit deflated today though.
Thanks bro! It will be interesting to see if my 4h closes under the upper trendline I have drawn though.

I used to love to trade the AUD/USD. She still treating you nice?
Just digging in the trenches like everyone else!
  • #117,377
  • Feb 3, 2009 9:49am Feb 3, 2009 9:49am
Quoting eohater
Thanks bro! It will be interesting to see if my 4h closes under the upper trendline I have drawn though.

I used to love to trade the AUD/USD. She still treating you nice?
Lol shes been great today uptil now,though it looks like Im about to get stopped out +2.The dollars really getting creamed,check out U/j.
  • #117,378
  • Feb 3, 2009 9:58am Feb 3, 2009 9:58am
Quoting JammerJams
"Ah..my dear ntoller" I may need to clarify..I too am a bit in trading fundamentals..but...tech trading is viiewed as a way to fly in a sand storm. If we trade using only fundamentals..then we will have a confusing and unrealistic approach. The trick is to trade technical..and support our decision with fundamentals..they support our trades..but...do not lead them. Importance of News does affect trading. But should not be our lead decision.

Otherwise..we are in the middle of the noise..and trading becomes emotional
Not unless one is trading long term, my dear JammerJams, then we trade on a fundamental basis with technicals used to support our entry and exit points, obviously employing extremely low levels of leverage.

Even as a short term trader, one should always understand how the major news stories, and movements in commodities, equities, bonds and other currency pairs impact the pair you are trading. It is important to have a solid understanding of the macro-economic fundamentals and the current correlations of different assets in order to become a more complete trader. Look at the one day drop in Cable after RBS announced the biggest ever UK corporate loss as a very recent example of how a news story affected all traders, both short and long term, in the most dramatic fashion.

Not everything can be explained by technicals, despite the attempts to do so by many on this forum.
  • #117,379
  • Feb 3, 2009 10:02am Feb 3, 2009 10:02am
Quoting gammase1
Not unless one is trading long term, then we trade on a fundamental basis with technicals used to support our entry and exit points, obviously employing extremely low levels of leverage.

Even as a short term trader, one should always understand how the major news stories, and movements in commodities, equities, bonds and other currency pairs impact the pair you are trading. It is important to have a solid understanding of the macro-economic fundamentals and the current correlations of different assets in order to become a more complete trader....
I don't disagree, but what date was that announcement?
  • #117,380
  • Feb 3, 2009 10:05am Feb 3, 2009 10:05am
Quoting Vourvoul
I don't disagree, but what date was that announcement?
Hi Vourvoul,

It was on Mon 19th Jan, where Cable dropped by a 1,000 pips in 2 trading sessions.
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