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Cable Update (GBPUSD)

  • #153,281
  • Jul 30, 2009 9:57pm Jul 30, 2009 9:57pm
Quoting 5abi
Great point though warren buffet is no trader. They guy never sells. Man, he just does never sell. (ok he does but generally he just holds on to it)
Correct. Buffet is NOT a trader. He's an investor who can hold on to anything long enough to realize a profit.
Ghost Rider - WWTBMD?
  • #153,282
  • Jul 30, 2009 9:59pm Jul 30, 2009 9:59pm
Quoting 5abi
Great point though warren buffet is no trader. They guy never sells. Man, he just does never sell. (ok he does but generally he just holds on to it)
I'M wrong it is Robert Lederer trader for merill lynch. you can see is interview on youtube good interview..
  • #153,283
  • Jul 30, 2009 9:59pm Jul 30, 2009 9:59pm
Quoting 5abi
Great point though warren buffet is no trader. They guy never sells. Man, he just does never sell. (ok he does but generally he just holds on to it)
Thanks 5Abi,

Could you give us a long-term view of GU. I say on 3-5 weeks?
  • #153,284
  • Jul 30, 2009 9:59pm Jul 30, 2009 9:59pm
Quoting mktjong
Guys, I ain't so sure now if it's time to short Cable. The current charts of EU and Cable look bullish. Asian seems to be buying both pairs. It'd likely to remain bullish in London session.
I'm expecting Asia to take this up a bit to say 6530/50. But you think it will keep going up in London?
Ghost Rider - WWTBMD?
  • #153,285
  • Jul 30, 2009 10:00pm Jul 30, 2009 10:00pm
Perfect pair. Both are exactly the same heigth.

Ne
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  • #153,286
  • Jul 30, 2009 10:04pm Jul 30, 2009 10:04pm
Quoting albchr
I'm expecting Asia to take this up a bit to say 6530/50. But you think it will keep going up in London?
There seems to have sellers coming in on the last hourly volume on Cable. But EU is definitely bullish till London, no big sellers coming in yet.
  • #153,287
  • Jul 30, 2009 10:05pm Jul 30, 2009 10:05pm
Now safe for short!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #153,288
  • Jul 30, 2009 10:06pm Jul 30, 2009 10:06pm
Quoting Nene
Perfect pair. Both are exactly the same heigth.

Ne
inteeresting how it differ from one broker to another one hmmm what time is it for you now
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  • #153,289
  • Jul 30, 2009 10:09pm Jul 30, 2009 10:09pm
I could but I risk looking an ass in 2-3 weeks lol

My bias is bearish, but weird thing is that I think euro could go as high as 46 soon. so how does pound drop with euro still rising as there is good correlation.

but fortunately I can still make money without caring about what happens in 2-3 weeks, as I am looking to short this tonight

Quoting Pham
Thanks 5Abi,

Could you give us a long-term view of GU. I say on 3-5 weeks?
Its all in the mind.
  • #153,290
  • Jul 30, 2009 10:10pm Jul 30, 2009 10:10pm
Quoting mktjong
There seems to have sellers coming in on the last hourly volume on Cable. But EU is definitely bullish till London, no big sellers coming in yet.
Last hour closed below my short at 6520. One more to go for the 4H. I'm hoping for a test of 6550 for more short possibility.

Truth is, when the big guys get in the game, who knows but I'm expecting a false bull run to get everyone long before pulling the plug and letting it tank.

Only question is, how high will they take it before that happens...lol

Also, I've seen little correlation between EU & GU lately until yesterday. I think EU is flat and the dollar is what's driving it ATM.
Ghost Rider - WWTBMD?
  • #153,291
  • Jul 30, 2009 10:12pm Jul 30, 2009 10:12pm
bbl guys. placed a entry order at 6550. and then at 6570. stops at 6635. worst case scenario will be that it drops now and then europe picks it up. I want the asians to drop if from 50 to 6480 and I would be happy. But if it dropped now, I will cancel out my shorts at the european open before they wake up
Its all in the mind.
  • #153,292
  • Jul 30, 2009 10:13pm Jul 30, 2009 10:13pm
I am watching now, thanks. I love trader folklore

Quoting Lejumeau
I'M wrong it is Robert Lederer trader for merill lynch. you can see is interview on youtube good interview..
Its all in the mind.
  • #153,293
  • Jul 30, 2009 10:16pm Jul 30, 2009 10:16pm
11:14 PM EST

Quoting Lejumeau
inteeresting how it differ from one broker to another one hmmm what time is it for you now
  • #153,294
  • Jul 30, 2009 10:16pm Jul 30, 2009 10:16pm
Quoting albchr
Last hour closed below my short at 6520. One more to go for the 4H. I'm hoping for a test of 6550 for more short possibility.

Truth is, when the big guys get in the game, who knows but I'm expecting a false bull run to get everyone long before pulling the plug and letting it tank.

Only question is, how high will they take it before that happens...lol

Also, I've seen little correlation between EU & GU lately until yesterday. I think EU is flat and the dollar is what's driving it ATM.
Exactly ..
The 12 hr chart of Cable still very bullish
(I have no position atm, shall wait till London session for clue)
  • #153,295
  • Jul 30, 2009 10:17pm Jul 30, 2009 10:17pm
Quoting Nene
11:14 PM EST
same for me with a few minute out
  • #153,296
  • Jul 30, 2009 10:19pm Jul 30, 2009 10:19pm
well to a positive note for the bear longer a resistance hold harder it will to brake it.
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  • #153,297
  • Jul 30, 2009 10:19pm Jul 30, 2009 10:19pm
I think if it breaks 1.6526, it's up and away. Still holding short though for time being
Disclaimer: Check your 1m charts
  • #153,298
  • Jul 30, 2009 10:20pm Jul 30, 2009 10:20pm
Quoting mktjong
Exactly ..
The 12 hr chart of Cable still very bullish
(I have no position atm, shall wait till London session for clue)
Yeah, that 6520 I have has been there for like 13 or 14 hours now...LOL

I might just pull it next time in profit but then, what if it drops...
Ghost Rider - WWTBMD?
  • #153,299
  • Jul 30, 2009 10:25pm Jul 30, 2009 10:25pm
Quoting albchr
Yeah, that 6520 I have has been there for like 13 or 14 hours now...LOL

I might just pull it next time in profit but then, what if it drops...

yes good idea albchr pull it now so price will then fall like a knife.. like it always happen when we just close a position that we think is not going anywhere.

at lease we will be profiting from your gesture .. what a nice guy you are yep go head close your short so it can drop..
  • #153,300
  • Jul 30, 2009 10:26pm Jul 30, 2009 10:26pm
I think, should wait until 1.6475 holds or not

If hold, then Buy for safe, Stoploss -100, Targets open (+100-->200)

Ih break, Sell for safe, Stoploss -100, Targets open (+100-->200)

TKS
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