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Cable Update (GBPUSD)

  • #126,501
  • Mar 13, 2009 10:35am Mar 13, 2009 10:35am
Quoting khelemen
Pipland,

The chart was so useful, it looks like GBP will probably continue to retrace before picking up back... Do you have USD as well?

thanks in advance,

Wormboy!.. I'm back to Penang from KL on Monday. we can meet for "teh tarik" if you free.

regards,
Glad it was of use. Sorry i dont have the USDx at the moment its on another software package on my laptop but thats broken so cant get access to it for the time being
  • #126,502
  • Mar 13, 2009 10:37am Mar 13, 2009 10:37am
Quoting PipLand
Glad it was of use. Sorry i dont have the USDx at the moment its on another software package on my laptop but thats broken so cant get access to it for the time being
I do have this though an oil chart which is another driver for the dollar looks to be at FIb resistance
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  • #126,503
  • Mar 13, 2009 10:42am Mar 13, 2009 10:42am
Quoting PipLand
I do have this though an oil chart which is another driver for the dollar looks to be at FIb resistance
It looks like I can place sell now, and wait till friday next week to close. if so.. Thanks Pipsland, at least we had the direction..

regards,
  • #126,504
  • Mar 13, 2009 10:49am Mar 13, 2009 10:49am
Quoting khelemen
It looks like I can place sell now, and wait till friday next week to close. if so.. Thanks Pipsland, at least we had the direction..

regards,
Your welcome if you are thinking of selling then consider this. I know someone mention a H&S forming earlier i think this is what they meant so credit to them if it plays out
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  • #126,505
  • Mar 13, 2009 10:57am Mar 13, 2009 10:57am
Quoting PipLand
Your welcome if you are thinking of selling then consider this. I know someone mention a H&S forming earlier i think this is what they meant so credit to them if it plays out

so scary... auuuochhhh.!!!
  • #126,506
  • Mar 13, 2009 11:05am Mar 13, 2009 11:05am
DOW down 20 points 12.02 eastern

moves from miners etc to safe stuff - home depot / johnson and johnson/hewlett packard etc

more of a move across than a rout - yet

plenty of time for a sell off

which will take cable with it I reckon

but it hasnt happened yet....

Hoping for a lag beteen a fall and cable catching up...

BUT - its FRIDAY -- care needed or we get strung out in a torpid market

ps Dow now 36 off and cable turning down - correlation in place -

all pigs fuelled and ready to fly !
  • #126,507
  • Mar 13, 2009 11:20am Mar 13, 2009 11:20am
In my humble opinion, the fundamental money flow tends to support the likelihood of this H&S playing out. With $63 Billion of funds set to flow into the US before Midday on Monday, it would seem highly probable that a large amount would come from the low yielding £ and Jap yen. The required timing of the flows seems to support the pattern...

Possible that we meet the neck at 13880.. or have we met it?

Quoting PipLand
Your welcome if you are thinking of selling then consider this. I know someone mention a H&S forming earlier i think this is what they meant so credit to them if it plays out
Ride the Bulls bearback!
  • #126,508
  • Mar 13, 2009 11:30am Mar 13, 2009 11:30am
i enter it short at1.3975 can it come my way? am new in the line
  • #126,509
  • Mar 13, 2009 11:31am Mar 13, 2009 11:31am
Quoting alcando
In my humble opinion,
I know you have no humble opinions as you are the master of evil and your cat isnt far behind !

H&S is obviously S&H backwards - which stands for 'Sadistic & Horrible'

don't think I have forgotten:-

' How dare you break wind in front of me ' ?

'I am sorry, I didnt know it was your turn'

So tell me where you think it goes now and I will trade the opposite

or so I tell you !

Alan
  • #126,510
  • Mar 13, 2009 11:37am Mar 13, 2009 11:37am
Quoting alcando
In my humble opinion, the fundamental money flow tends to support the likelihood of this H&S playing out. With $63 Billion of funds set to flow into the US before Midday on Monday, it would seem highly probable that a large amount would come from the low yielding £ and Jap yen. The required timing of the flows seems to support the pattern...

Possible that we meet the neck at 13880.. or have we met it?
cool, i'll cant tell at the moment where we are my chart feed has gone up the spout and my other charts are crap!
  • #126,511
  • Mar 13, 2009 11:38am Mar 13, 2009 11:38am
were she going? It's still flat for 8H! time to watching chick.
  • #126,512
  • Mar 13, 2009 11:47am Mar 13, 2009 11:47am
The FTSE 100, DAX and CAC 40 have dropped between 1.5% to 2.5% in the past 3 hours, and with 15 minutes of trading to go in London, I expect the FTSE to fall further.

Whether it is profit taking, or market movement I can't say, what I can say however is be wary, Friday's have a habit of bringing about irregular price movements so plan those trades wisely.
  • #126,513
  • Mar 13, 2009 11:47am Mar 13, 2009 11:47am
Well Geezer,

I think you are taking it upon you to break wind for all of us. Yes, I revise my view, I will be taking a short longs and longer short untill this slapper stops slapping my chops.

This little issue I am focusing on is the settlement of $'s in to the US treasury. I am expecting a big long move on $Y before mid morning monday. Obviously it is pointless buying $'s with the pound at it's worst levels so I would not expect cable to meet the bottomless pit immediately, but you just cannot move that amount of money into the $ without having an effect.

I am just scalping this slapper in the meantime but with a bias towards a bigger move down before monday morning.

No pre dick shins just thinking thru the money flow likelihood.

For now, I am flat.

Of course, we cant rule out the possibility of a S&H as you say, which could be an inverted H&S on the H4. Gloomberg keep preaching about it on the Euro but it is a bit clearer on the £

Alan2

Quoting allserene
I know you have no humble opinions as you are the master of evil and your cat isnt far behind !

H&S is obviously S&H backwards - which stands for 'Sadistic & Horrible'

don't think I have forgotten:-

' How dare you break wind in front of me ' ?

'I am sorry, I didnt know it was your turn'

So tell me where you think it goes now and I will trade the opposite

or so I tell you !

Alan
Ride the Bulls bearback!
  • #126,514
  • Mar 13, 2009 11:48am Mar 13, 2009 11:48am
Quoting biax
were she going? It's still flat for 8H! time to watching chick.

please,may you post the 8h chart you mention?
  • #126,515
  • Mar 13, 2009 11:51am Mar 13, 2009 11:51am
it must move after all the things have happened today and yesterday, its just imposibble that it stayed the same for 8h or maybe i misunderstood what you said.
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  • #126,516
  • Mar 13, 2009 11:58am Mar 13, 2009 11:58am
Quoting PipLand
Your welcome if you are thinking of selling then consider this. I know someone mention a H&S forming earlier i think this is what they meant so credit to them if it plays out
Finally someone see it too hope it plays out
Trade less make more!
  • #126,517
  • Mar 13, 2009 11:59am Mar 13, 2009 11:59am
Looking at my 1H chart, which is still trading within a bull channel, the party has exactly an hour until it kicks off.

Lets hope it's a bear party, and they bring the kegs.
  • #126,518
  • Mar 13, 2009 12:01pm Mar 13, 2009 12:01pm
Yo Al2 ! - Sounds sensible to me

Yes, it helps to keep it simple and international masters of finance and espionage like me are not shifting gbp into dollars at this crummy rate. If the depression is off and the recession is back on, then 1.36 should be as bad as it gets...

If GB shows signs of life after death then I reckon 1.65 is it's natural home.

Nice little drop just now - spend last couple of days praying for b/e and week before that I was hitting sixes every day - weird !

No slappers here - just Jerry Springer sorts - them trailers is in ruckus agin ennis !


Quoting alcando
Well Geezer,

I think you are taking it upon you to break wind for all of us. Yes, I revise my view, I will be taking a short longs and longer short untill this slapper stops slapping my chops.

This little issue I am focusing on is the settlement of $'s in to the US treasury. I am expecting a big long move on $Y before mid morning monday. Obviously it is pointless buying $'s with the pound at it's worst levels so I would not expect cable to meet the bottomless pit immediately, but you just cannot move that amount of money into the $ without...
  • #126,519
  • Mar 13, 2009 12:22pm Mar 13, 2009 12:22pm
Too many supports on pull back down ! I went long 1.3950 ! Don't follow me because mine is already safe secured in + 8 pips !
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I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #126,520
  • Mar 13, 2009 12:24pm Mar 13, 2009 12:24pm
Can someone please tell me what was the reason of this bullish movement?

I don't see any big news at that hour.

http://s5.tinypic.com/20af810.jpg
Why do we fall? "So we can learn to pick ourselves up."
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