Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

Post #132,361
Quote
May 14, 2009 4:00pm May 14, 2009 4:00pm

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

Quoting skerdi-meta

Disliked

Went short @ 52.45 ..,,, really hope this f***ing h&s works out.
Personally, I dont think it's will,, since I did take the trade.
Nothing works out when I take a trade, but it always does when I dont take the trades.

That's some sick fetish the market has. Im not even a submisive type (well now that I come 2 think of that, I might be)

Ignored

Hey bro, just chill! You don't HAVE to trade. Just wait up the confirmation. still NO sign of reversal. Best to stay out.

Hear the music before the song is over ...

Post #132,362
Quote
May 14, 2009 4:00pm May 14, 2009 4:00pm

EricB
| Joined Mar 2009 | Status: Member | 326 Posts

Quoting eohater

Disliked

If I may.

Crude oil is traded globally in USD, when USD is weak, the cost of oil increases, when the USD is strong the cost of oil goes down. Now, here's a fundamental view (I'M NOT A FUNDAMENTAL TRADER). The US does not want $5/gal gas again this summer. Otherwise, it might show the US that Obamanomics is not holding out for what they preached. So, Bernake earlier in the week says the US wants a stronger USD, Oil reserves are low and demand is high. So the ecomonic theory of supply and demand holds, low supply, high demand, high price. Since...

Ignored

Russians plus OPEC want prices higher - they might sell USD to make it cheaper (thye have huge hoardes) - infact I can see a currency war begining to start with the recent comments - hope retails traders like us dont get crushed on these whims.

Post #132,363
Quote
May 14, 2009 4:01pm May 14, 2009 4:01pm

_Pipster_
| Joined Mar 2009 | Status: Member | 102 Posts

Quoting imbiber

Disliked

I see it.

Ignored

It's staring at us right in the face!

Doh! I didn't mean to do that.

Post #132,364
Quote
May 14, 2009 4:02pm May 14, 2009 4:02pm

zapper
| Joined Aug 2008 | Status: Member | 552 Posts

3 days of lower highs(incl. today) would make for a good sell off More over, we are just close to the weekly open price at 1.5237, which is quite a deciding factor for the days ahead...

Post #132,365
Quote
May 14, 2009 4:04pm May 14, 2009 4:04pm

imbiber
| Joined Jun 2006 | Status: Member | 412 Posts

Quoting skerdi-meta

Disliked

Went short @ 52.45 ..,,, really hope this f***ing h&s works out.
Personally, I dont think it's will,, since I did take the trade.
Nothing works out when I take a trade, but it always does when I dont take the trades.

That's some sick fetish the market has. Im not even a submisive type (well now that I come 2 think of that, I might be)

Ignored

I know the feeling , i lost twice on audusd earlier when I tried picking the top.

Post #132,366
Quote
May 14, 2009 4:06pm May 14, 2009 4:06pm

eohater
Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts

Quoting PipLand

Disliked

Hey EO, interesting theory thanks for sharing, def makes sense I dont think you guys or us (UK) could withstand huge oil prices this summer, it would be a killer! what do you think about the H&S on cable? im short at 5235

Ignored

Hey bro! I'm short from 5242 myself.

Just digging in the trenches like everyone else!

Post #132,367
Quote
May 14, 2009 4:08pm May 14, 2009 4:08pm

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

In fact, 1.5167 is a pretty good level to reset longs.

Hear the music before the song is over ...

Post #132,368
Quote
May 14, 2009 4:10pm May 14, 2009 4:10pm

skerdi-meta
| Joined Feb 2009 | Status: I'm the guy in the middle, so u kno | 294 Posts

Quoting GlobalMacro

Disliked

Hey bro, just chill! You don't HAVE to trade. Just wait up the confirmation. still NO sign of reversal. Best to stay out.

Ignored

how do u get a confirmation? When u get them it's usually way 2 late 2 enter the trade. Pls enlighten me.. No, seriously

Post #132,369
Quote
May 14, 2009 4:13pm May 14, 2009 4:13pm

zapper
| Joined Aug 2008 | Status: Member | 552 Posts

Quoting skerdi-meta

Disliked

how do u get a confirmation? When u get them it's usually way 2 late 2 enter the trade. Pls enlighten me.. No, seriously

Ignored

probably hourly resistance breakout... The day opened at 155. So, 12 pips above the open will quickly shift the focus to the possible close of the day in the minds of most traders...

Post #132,370
Quote
May 14, 2009 4:14pm May 14, 2009 4:14pm

Tuff
| Joined Apr 2009 | Status: Member | 13 Posts

Quoting imbiber

Disliked

I see it.

Ignored

Good one

Post #132,371
Quote
May 14, 2009 4:14pm May 14, 2009 4:14pm

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

Quoting skerdi-meta

Disliked

how do u get a confirmation? When u get them it's usually way 2 late 2 enter the trade. Pls enlighten me.. No, seriously

Ignored

Well look at the price action right now. What do you see? Upwards momentum combined with bullish breakout of 1.5140-1.5160 levels (post-news), well THIS IS your confirmation, just wait up a pullback and you can establish a long position. A long in this environment gives you a much better risk/reward ratio.

Hear the music before the song is over ...

Post #132,372
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May 14, 2009 4:18pm May 14, 2009 4:18pm

batwood
| Joined Jan 2007 | Status: Member | 39 Posts

long looks better to me

FUTURE OF MX

Post #132,373
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May 14, 2009 4:19pm May 14, 2009 4:19pm

zapper
| Joined Aug 2008 | Status: Member | 552 Posts

A bounce off the 185 support and a retest of lower 200s before falling, is a possibility...

Post #132,374
Quote
May 14, 2009 4:20pm May 14, 2009 4:20pm

skerdi-meta
| Joined Feb 2009 | Status: I'm the guy in the middle, so u kno | 294 Posts

Quoting GlobalMacro

Disliked

Well look at the price action right now. What do you see? Upwards momentum combined with bullish breakout of 1.5140-1.5160 levels (post-news), well THIS IS your confirmation, just wait up a pullback and you can establish a long position. A long in this environment gives you a much better risk/reward ratio.

Ignored

U think longs better than shorts right now? So u dont think h&s is gonna play out

Post #132,375
Quote
May 14, 2009 4:23pm May 14, 2009 4:23pm

PipLand
| Joined Nov 2008 | Status: Member | 2,548 Posts

Quoting eohater

Disliked

Hey bro! I'm short from 5242 myself.

Ignored

Sweet! Lets hope this plays out

Post #132,376
Quote
May 14, 2009 4:24pm May 14, 2009 4:24pm

GlobalMacro
Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts

Quoting skerdi-meta

Disliked

U think longs better than shorts right now? So u dont think h&s is gonna play out

Ignored

1.5236 will become the second S IF AND ONLY IF price trades below 1.5070s to complete the pattern. Otherwise H&S at this point is only a mirage. Here & Now tells us the price wants to go up at least thru tomorrow's news release. Long or flat is better than short.

Hear the music before the song is over ...

Post #132,377
Quote
May 14, 2009 4:27pm May 14, 2009 4:27pm

skerdi-meta
| Joined Feb 2009 | Status: I'm the guy in the middle, so u kno | 294 Posts

Who's watching Eurovision right now?
I cant believe how inapropriate they are, sooooo lame. It used 2 b decent a decade ago.

Post #132,378
Quote
May 14, 2009 4:33pm May 14, 2009 4:33pm

skerdi-meta
| Joined Feb 2009 | Status: I'm the guy in the middle, so u kno | 294 Posts

Quoting GlobalMacro

Disliked

1.5236 will become the second S IF AND ONLY IF price trades below 1.5070s to complete the pattern. Otherwise H&S at this point is only a mirage. Here & Now tells us the price wants to go up at least thru tomorrow's news release. Long or flat is better than short.

Ignored

Cheers dude man, I'll let it run though due 2 risk 2 reward very unproportional 20/300 pips. Appriciate all the analysis and points of view.

Post #132,379
Quote
May 14, 2009 4:41pm May 14, 2009 4:41pm

zapper
| Joined Aug 2008 | Status: Member | 552 Posts

GbpJpy has Weekly bearish and monthly bearish. The USDJPY has done a good deal of selling ... now, if it the GBPUSD that needs to do the selling, just to have a double bottom on it`s JPY cross?