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Cable Update (GBPUSD)

  • #122,781
  • Edited 10:27am Feb 23, 2009 10:05am | Edited 10:27am
Quoting Professor4x
Dollar buying??? gbp/usd closed under 1.44 on frida and hit 1.4650 today. Dont understand.
Check intra-day moves on EURUSD, USDJPY and USDCHF, then you might begin to understand.

A large portion of sterling's strength seen today is derived from the relative positive sentiment surrounding UK banking stocks, which are, on the whole, up on the day, despite the downturn in the broader index.
  • #122,782
  • Feb 23, 2009 10:05am Feb 23, 2009 10:05am
Quoting manize
Good entry bro. I wait for that level, but when she touched there, I still help my daughter on her matemathic problem, so I miss the chance !
Thanks bro! I set a PO off the price of the wick of the candle that closed right on the 15m 50ema but shot down to 4538. I didn't think it would get filled and expected to get stopped out if it did. Their's some major downward pressure at the moment, but I think she still has room to go up.
Just digging in the trenches like everyone else!
  • #122,783
  • Feb 23, 2009 10:05am Feb 23, 2009 10:05am
Quoting PipLand
I think the problems are only just starting here in the UK. The economic troubles really start to hit home when people you know start losing their homes and jobs. I would have to maintain the view that theres much worse to come for the Uk before anything starts to improve. As for the US I can only go by what I hear in the news which doesnt look good but there seems to be some light at the end of the tunnel for already. Whats your view?
The U.S. is making 700 bill or so in subsidies. The world's wealth that has been lost is 30 trill

I don't think the US is over extending itself

I think the U.S. economy is much wider based than the U.K. which has a preponderance of banking

However, we have the history of cable at 2.14, so the market believed recently that the U.K. was worth backing over the US policies


Mixing all that together, I see it settling at 1.65 or so eventually - but what is eventually ?

Therein is the mystery
  • #122,784
  • Feb 23, 2009 10:06am Feb 23, 2009 10:06am
Quoting eohater
Not an ideal 1h close. I've moved my SL to 4540. Might come down to 4545 and go back up or take me out completely. I would keep my SL tight if you get in at 4545.
Hey Eo, nice entry as usual, thought you might like a look at my 4hr as it just closed 5 mins ago.

Im short from 4625 and hoping the trendline will break
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  • #122,785
  • Feb 23, 2009 10:09am Feb 23, 2009 10:09am
Quoting PipLand
Hey Eo, nice entry as usual, thought you might like a look at my 4hr as it just closed 5 mins ago.

Im short from 4625 and hoping the trendline will break
Thanks for sharing bro!

Yeah! You have a nice engulfing bearish close on your last 4h. Hmmmm...Looks like I could be on the wrong side of the street..
Just digging in the trenches like everyone else!
  • #122,786
  • Feb 23, 2009 10:09am Feb 23, 2009 10:09am
Quoting gammase1
Check intra-day moves on EURUSD, USDJPY and USDCHF, then you might begin to understand.
Already explained why jpy is moving higher. Euro is lack of confidence in EU right now becasuer of tensions amoung counties and alot of finger pointing going on. But based on my longs from friday, aussie, short swissy, long gbp, long gbp/jpy they are all higher than when i enter market. still holding aussie, swissy, took profit on gbp and gbp/jpy bout reenterd gbp again waiting to re enter long gbp/jpy. My portfolio has not made less than 1% a week for past 3 years so apparently what i am doing is working. Swissy of all gives most differcult singals lately and she is toughest of all so i have my smallest postioin. Just short swissy is short dollar side so i am expecting worse news next couple of days.
  • #122,787
  • Feb 23, 2009 10:19am Feb 23, 2009 10:19am
This is like watching paint dry today!
Just digging in the trenches like everyone else!
  • #122,788
  • Feb 23, 2009 10:23am Feb 23, 2009 10:23am
Quoting allserene
The U.S. is making 700 bill or so in subsidies. The world's wealth that has been lost is 30 trill

I don't think the US is over extending itself

I think the U.S. economy is much wider based than the U.K. which has a preponderance of banking

However, we have the history of cable at 2.14, so the market believed recently that the U.K. was worth backing over the US policies


Mixing all that together, I see it settling at 1.65 or so eventually - but what is eventually ?

Therein is the mystery

Yeah its a fair point, Im sure we will get back to at least 1.65 but like you said who knows when that will be. I think as long as we stay above 1.35 that will be sooner rather than later, cable is showing signs of basing. But if we break 1.35 anytime soon then £ could be flushed away for a long long time. And we'll be here saying the same thing about when it will get to the 1.35 level again!
  • #122,789
  • Feb 23, 2009 10:23am Feb 23, 2009 10:23am
Summary: Deposit/Withdrawal: 50 000.00 Credit Facility: 0.00 Closed Trade P/L: 623.90 Floating P/L: 0.00 Margin: 0.00 Balance: 50 623.90 Equity: 50 623.90 Free Margin: 50 623.90 Details:

TRADING gu FOR THE INVESTOR FOR 3 DAYS:What is the just monthly payment/sum+bonus/ for the trader
  • #122,790
  • Feb 23, 2009 10:23am Feb 23, 2009 10:23am
Quoting eohater
This is like watching paint dry today!
paint drying is exciting is you love the color. This stall and consoladation going on for gbp is great and as long as she stays above 1.45 we will be dancing going into overnight. Trade gbp/jpy if you want action she dances the most and longest everyday.
  • #122,791
  • Feb 23, 2009 10:24am Feb 23, 2009 10:24am
Quoting Professor4x
Already explained why jpy is moving higher. Euro is lack of confidence in EU right now becasuer of tensions amoung counties and alot of finger pointing going on. But based on my longs from friday, aussie, short swissy, long gbp, long gbp/jpy they are all higher than when i enter market. still holding aussie, swissy, took profit on gbp and gbp/jpy bout reenterd gbp again waiting to re enter long gbp/jpy. My portfolio has not made less than 1% a week for past 3 years so apparently what i am doing is working. Swissy of all gives most differcult singals...
Not doubting whether your approach is working or not.

I am pointing out that investors are actually buying dollars, as Allserene pointed out and you disagreed with. I also saw fit to mention the effect of sentiment towards the UK banks on sterling, seeing as it is a factor that has not even been discussed here. RBS +10%, BARC + 5%
  • #122,792
  • Feb 23, 2009 10:25am Feb 23, 2009 10:25am
Quoting eohater
Thanks for sharing bro!

Yeah! You have a nice engulfing bearish close on your last 4h. Hmmmm...Looks like I could be on the wrong side of the street..
Your welcome! Trendline is still holding up for now, its under pressure though.
  • #122,793
  • Feb 23, 2009 10:26am Feb 23, 2009 10:26am
Quoting gammase1
Not doubting whether your approach is working or not.

I am pointing out that investors are actually buying dollars, as Allserene pointed out and you disagreed with. I also saw fit to mention the effect of sentiment towards the UK banks on sterling, seeing as it is a factor that has not even been discussed here. RBS +10%, BARC + 5%
I guess since i was told this was a gbp forum one time that allserene was refering to gbp. That was my intial response. got it!
  • #122,794
  • Feb 23, 2009 10:27am Feb 23, 2009 10:27am
Quoting eohater
This is like watching paint dry today!
Try living in East Washington - watching the paint dry draws massive crowds of excited people

When I went on my roof to nail a shingle down, I looked down into the street and there was a sea of interested faces

I was naked though
  • #122,795
  • Feb 23, 2009 10:28am Feb 23, 2009 10:28am
Quoting PipLand
Your welcome! Trendline is still holding up for now, its under pressure though.
You've got a nice short entry. I was short earlier from 4635, I'll be pissed if I should have left it open.
Just digging in the trenches like everyone else!
  • #122,796
  • Feb 23, 2009 10:28am Feb 23, 2009 10:28am
Quoting allserene
Try living in East Washington - watching the paint dry draws massive crowds of excited people

When I went on my roof to nail a shingle down, I looked down into the street and there was a sea of interested faces

I was naked though
  • #122,797
  • Feb 23, 2009 10:29am Feb 23, 2009 10:29am
Quoting allserene
Try living in East Washington - watching the paint dry draws massive crowds of excited people

When I went on my roof to nail a shingle down, I looked down into the street and there was a sea of interested faces

I was naked though
Just digging in the trenches like everyone else!
  • #122,798
  • Feb 23, 2009 10:29am Feb 23, 2009 10:29am
Quoting Professor4x
I guess since i was told this was a gbp forum one time that allserene was refering to gbp. That was my intial response. got it!
Going forward, you have to consider other currency pairs, Prof. Always happy to help.
  • #122,799
  • Feb 23, 2009 10:30am Feb 23, 2009 10:30am
I just finish my analysis method video.
It’s as I think a clear description for my method.
You can all access it on my play list on YouTube
http://www.youtube.com/view_play_lis...FD14B2AACA1C5F
  • #122,800
  • Feb 23, 2009 10:32am Feb 23, 2009 10:32am
Quoting eohater
You've got a nice short entry. I was short earlier from 4635, I'll be pissed if I should have left it open.
Yup! I'm pissed. Long was closed out for +2. YEAH!! Now I can go eat lunch.
Just digging in the trenches like everyone else!
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