Cable Update (GBPUSD) | Page 549 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #10,961
  • Apr 20, 2007 9:06am Apr 20, 2007 9:06am
Cable is now moving down to 2.0000; wonder if its because of Friday profit taking or what...

Lets see how Next week will fare.

News to watch next week would be UK GDP. Expected 0.7%. Hmmm.. How is the UK Retail Sales have been for the last 3 months? That should give us an Idea how good/bad the uk gdp should be.

Plus US GDP is also on the line friday
  • #10,962
  • Apr 20, 2007 9:10am Apr 20, 2007 9:10am
Quoting BurgerKing
Cable is now moving down to 2.0000; wonder if its because of Friday profit taking or what...

Lets see how Next week will fare.

News to watch next week would be UK GDP. Expected 0.7%. Hmmm.. How is the UK Retail Sales have been for the last 3 months? That should give us an Idea how good/bad the uk gdp should be.

Plus US GDP is also on the line friday
Now seriously: last Friday, who among us here could ever imagine that in ONE WEEK we would be treating 2.0000 as STRONG SUPPORT??

  • #10,963
  • Apr 20, 2007 9:39am Apr 20, 2007 9:39am
i guess the trite phrase strong resistance becomes strong support can be true. youre so right though cesar. all i think i need to do now is make a poll "when will euro hit 2.0000 ?"
  • #10,964
  • Apr 20, 2007 9:44am Apr 20, 2007 9:44am
Today is one of the worst days in trading
  • #10,965
  • Apr 20, 2007 10:22am Apr 20, 2007 10:22am
High 2.0068 low 1.9991 on 15 min charts

Price just hit 78.6 fibo @ 2.0051

Currently short frm 2.0045 TP 2.0010 SL nil
  • #10,966
  • Apr 20, 2007 10:37am Apr 20, 2007 10:37am
Cable won't do any favour today for any trader, who went long it will go to the other direction, and who went short it will do the same, it killed me 4 times today, today cable is not stable, and it is hunting any trader who is thinking only thinking to open any trade and make some profit, even little profit, I better shut down my pc today and stop trading, but I still have an open trade, either I kill it or it will kill me for the 5th time in one day!!
  • #10,967
  • Apr 20, 2007 10:41am Apr 20, 2007 10:41am
Quoting pino2
Cable won't do any favour today for any trader, who went long it will go to the other direction, and who went short it will do the same, it killed me 4 times today, today cable is not stable, and it is hunting any trader who is thinking only thinking to open any trade and make some profit, even little profit, I better shut down my pc today and stop trading, but I still have an open trade, either I kill it or it will kill me for the 5th time in one day!!
Sorry 2 hear about that....R u long or short? Good luck with the 5th trade
  • #10,968
  • Apr 20, 2007 10:43am Apr 20, 2007 10:43am
pino, im no expert or anything but just trying to give some simple constructive help. you might try a smaller position size and wider stop for a rangy day without major major news or anything to push the market overwhelmingly one way if youve been stopped out 4 times already. or stay out like you concluded until you are clear what you want to do. like many say, its slightly safer to just go in the direction of the long term trend. if you dont know what that is right now, quit!
  • #10,969
  • Apr 20, 2007 10:43am Apr 20, 2007 10:43am
Yes its been a terrible day with cable,lost twice,i need a rest as well,I tell myself that each time it bites then i see an opportunity that looks great then it reverses immediately i go in...Feeling cursed!
  • #10,970
  • Apr 20, 2007 10:45am Apr 20, 2007 10:45am
then try short at 2.0050/60/70 or long at 1.9990/2.0000/2.0010 just dont greed ( is 20/30 pips enough ? )
I Deeply Love My Virtual Life In Virtual World , RLC
  • #10,971
  • Apr 20, 2007 10:46am Apr 20, 2007 10:46am
Quoting forexnovice
High 2.0068 low 1.9991 on 15 min charts

Price just hit 78.6 fibo @ 2.0051

Currently short frm 2.0045 TP 2.0010 SL nil
Another attempt @ 2.0051. Will close manually if price reaches 2.0060
  • #10,972
  • Apr 20, 2007 10:49am Apr 20, 2007 10:49am
Again, I ask that we keep non trading discussions like politics out of this thread. Thanks. If you want a political discussion, that can take place in the Lounge area for non trading discussions... Thanks again
  • #10,973
  • Apr 20, 2007 10:50am Apr 20, 2007 10:50am
short
Thanks, wishing you the same in your trades
  • #10,974
  • Apr 20, 2007 10:53am Apr 20, 2007 10:53am
Cable is truly unstable today. It currently has NO correlation with ANY of the other currencies looking at the mataf.net analsis:

http://www.mataf.net/en/analysis-correlation_id.htm

This makes it a lot harder to trade - I always check a currencys correlation with a major pair before entering the maket. No point in buying gu if a +ve correlating pair is heavily on the way down.

The US Dollar Index though I noticed is slowly creeping up - its currently at 81.648 from a weeks low of 81.507 which does signal a stregthening of the dollar.

The dollar index has been almost indirectly proportional to the GU's movement. I cant
see much room north for GU if the index keeps increasing. The Big Players may start closing their longs very soon.
  • #10,975
  • Apr 20, 2007 10:57am Apr 20, 2007 10:57am
Quoting pino2
short
Thanks, wishing you the same in your trades
I mean wishing you happy trade and success, not the same as happened to me today (so as to make myself clear )
  • #10,976
  • Apr 20, 2007 11:02am Apr 20, 2007 11:02am
Quoting pino2
I mean wishing you happy trade and success, not the same as happened to me today (so as to make myself clear )
Gotcha .....Cable dipping slightly right now
  • #10,977
  • Apr 20, 2007 11:04am Apr 20, 2007 11:04am
any clue about henry paulson speak? anyone.....
  • #10,978
  • Apr 20, 2007 11:04am Apr 20, 2007 11:04am
Quoting Lbabe
Yes its been a terrible day with cable,lost twice,i need a rest as well,I tell myself that each time it bites then i see an opportunity that looks great then it reverses immediately i go in...Feeling cursed!
Yes its been a bad day - went long at 65 this morning, then came the bad UK news. Luckily I didn't use a stop loss and just waited till it retraced up again.
Just got out relatively unscathed for loss of 16 pips.

Not a day for the faint-hearted!

Good weekend everyone - see you Monday
  • #10,979
  • Apr 20, 2007 11:14am Apr 20, 2007 11:14am
I don't do hedging, but I guess if I tried to start an opposite trade i.e to go long now as a reverse of my short trade that is still open, I'm sure I will find that the prices for cable won't move either a pip up or down, and it will act as if the market has already closed early now, so as not to let me collect a single pip
  • #10,980
  • Apr 20, 2007 11:14am Apr 20, 2007 11:14am
  •  CWH
  • | Joined Feb 2007 | Status: United We Buy, Divided We Sell | 249 Posts
Does anyone know the timing of the upcoming London fixing?
"If, at first, you don't succeed, try, try, try again" - Winston Churchill
472 traders viewing now, 3 are registered:
makeme
,
,
ricmaj