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Cable Update (GBPUSD)

  • #131,421
  • May 7, 2009 2:48am May 7, 2009 2:48am
Quoting jack.canadia
Yeah I am also looking to take a long position in USD/CAD as well ..

Will know more after this week is over.

Its bed time. ciao.
I'm already long on that as it very oversold. Have a good night.
  • #131,422
  • May 7, 2009 2:49am May 7, 2009 2:49am
Quoting 4cfx
I'm already long on that as it very oversold. Have a good night.
think loonie has to hit 1.1450 before the bulls dive in, IMHO.
TRADE FOR SWAP
  • #131,423
  • May 7, 2009 2:51am May 7, 2009 2:51am
Quoting 4cfx
This agrees with the delta count under which cable is due for a big trend downwards around now.

I'm not familiar with Delta Trading but this is what someone else posted and he's pretty good.

that guy from the fxcm forum? it made me want to read up on it...
  • #131,424
  • May 7, 2009 2:53am May 7, 2009 2:53am
Trend still is up. Buying on dips.
Hear the music before the song is over ...
  • #131,425
  • May 7, 2009 2:55am May 7, 2009 2:55am
Quoting smartalicus
that guy from the fxcm forum? it made me want to read up on it...
Yeah, you are right. It seems quite involved but he's always helpful if you want further reading materials.
  • #131,426
  • May 7, 2009 2:56am May 7, 2009 2:56am
Quoting 4cfx
I'm already long on that as it very oversold. Have a good night.
its not oversold yet and 5090 was major support which is broke now so it could go down more looking for more down trend

Ub
  • #131,427
  • May 7, 2009 3:00am May 7, 2009 3:00am
Quoting ubaidahsan
its not oversold yet and 5090 was major support which is broke now so it could go down more looking for more down trend

Ub
I was referring to USD/CAD....
  • #131,428
  • May 7, 2009 3:05am May 7, 2009 3:05am
1.5090 still a strong support and not broken yet. just been tested.
Hear the music before the song is over ...
  • #131,429
  • May 7, 2009 3:39am May 7, 2009 3:39am
Quoting GlobalMacro
1.5090 still a strong support and not broken yet. just been tested.
ohh ok but when it will be broke so how we will judge that it is broked?

Ub
  • #131,430
  • May 7, 2009 5:09am May 7, 2009 5:09am
Quoting GlobalMacro
1.5090 still a strong support and not broken yet. just been tested.
Offloading half of the long position from 1.5080 thru 1.5190 -> 110 pips
Hear the music before the song is over ...
  • #131,431
  • May 7, 2009 5:17am May 7, 2009 5:17am
I wait around 5250 for open short
  • #131,432
  • May 7, 2009 5:20am May 7, 2009 5:20am
here is my level chart

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  • #131,433
  • May 7, 2009 5:41am May 7, 2009 5:41am
Quoting GlobalMacro
Offloading half of the long position from 1.5080 thru 1.5190 -> 110 pips
nice trade but please post when you go long or short so it will give us an idea to go long or short

thanks

Ub
  • #131,434
  • May 7, 2009 5:43am May 7, 2009 5:43am
Quoting GlobalMacro
Trend still is up. Buying on dips.
half of the long position from 1.5080 thru 1.5190 -> +110 pips
Exiting the other half @ 1.5150 -> +70 pips
Hear the music before the song is over ...
  • #131,435
  • May 7, 2009 6:03am May 7, 2009 6:03am
insanity news!

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  • #131,436
  • May 7, 2009 6:03am May 7, 2009 6:03am
More QE from the BOE! I wonder how far cable will come down now?
  • #131,437
  • May 7, 2009 6:24am May 7, 2009 6:24am
Quoting PipLand
More QE from the BOE! I wonder how far cable will come down now?
I knew something was suspicious! Think about how much control these guys have - I reckon it was BoE themselves who were driving the price up as a precautionary measure to their announcement.
  • #131,438
  • May 7, 2009 6:25am May 7, 2009 6:25am
does anyone have an informed view as to whether this is a case of a temporary retracement or a trend reversal please? what are the key s/r levels to be looking for as a confirmation to enter a short?
  • #131,439
  • May 7, 2009 6:27am May 7, 2009 6:27am
All we need now is for the ECB to come out with a surprise QE measure. Cable will retrace back below 1.50.
  • #131,440
  • May 7, 2009 6:30am May 7, 2009 6:30am
Quoting EricB
I knew something was suspicious! Think about how much control these guys have - I reckon it was BoE themselves who were driving the price up as a precautionary measure to their announcement.
If the impact is folllowed to what happened last time then it would have gone down to 1.47x levels (see charts for QE announcement on March 9th) - however with better sentiments and news and a lower QE figure the level could be higher. Trying to calculate right now what this could be - will report back if I have something substantial.
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