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Cable Update (GBPUSD)

  • #157,781
  • Aug 13, 2009 1:03pm Aug 13, 2009 1:03pm
gone short - rot setting in on DOW - and cable praps
  • #157,782
  • Aug 13, 2009 1:18pm Aug 13, 2009 1:18pm
She's coming home with GJ?
Great Bodies are Engineered not Born
  • #157,783
  • Aug 13, 2009 1:18pm Aug 13, 2009 1:18pm
DT has posted this morning different TP for long GU (4H)
1.6640
1.6710
1.6794
1.6922
1.7048
1.7142

First target was reached, but GU falls after FA.

Anyone agree that analysis?
If you resist at heart attack, you will be rich from trading.
  • #157,784
  • Aug 13, 2009 1:26pm Aug 13, 2009 1:26pm
Quoting Ilovefx
DT has posted this morning different TP for long GU (4H)
1.6640
1.6710
1.6794
1.6922
1.7048
1.7142

First target was reached, but GU falls after FA.

Anyone agree that analysis?
Well that is pure technicals of course but how is that affected if the DOW goes to 8700 ?

I know technicals work in a vacuum and dont allow for terrorist attacks or stock market crashes or international incidents or oil prices etc and that's why I dont go with technicals all the time

Most of cnbc believes a stock mkt correction is imminent and they could be right this time

Presumably that will take cable down ?
  • #157,785
  • Aug 13, 2009 1:35pm Aug 13, 2009 1:35pm
Quoting allserene
gone short - rot setting in on DOW - and cable praps
yup. dow sitting right @9320 level support. Wonder if that'll give way
Thank You
  • #157,786
  • Aug 13, 2009 1:39pm Aug 13, 2009 1:39pm
Quoting wormboy
yup. dow sitting right @9320 level support. Wonder if that'll give way
bro you still holding long?
I am flat right now but I think today's high was a tough nut to crack, probably starting to head south soon? what do you think?
Hear the music before the song is over ...
  • #157,787
  • Aug 13, 2009 1:40pm Aug 13, 2009 1:40pm
Sure FA has impact on trady. Fondamentals are very important. Other news, sure are very important. Seen i'm leaving in Belgium, i could not access to speciallized TV like CNBC (never seen before) I've got only CNN. Then i trade only with technical, pattern, FIB, Candles. Taking away from FA and after see the market how will do and follow trend. Sometimes scalp and when a clear plan is ready i enter for day trading. I never take a long trade and follow it for days or weeks. Maybe with more experience i'll do it.

PS: Actually again descending wedge on 5mn Chart.
If you resist at heart attack, you will be rich from trading.
  • #157,788
  • Aug 13, 2009 1:42pm Aug 13, 2009 1:42pm
Quote
btw I am mostly a day trader FYI. Today hit GJ lovely 160 , then 159.20 , then 158.80 , all 10 lot trades.

Just ignore the haters Mal... There are plenty of people on this thread who value your opinions. Personally, I would rather trust someone who regularly makes -10 lot- trades..... I cannot yet imagine risking that much per trade.

Keep up the good work
  • #157,789
  • Aug 13, 2009 1:50pm Aug 13, 2009 1:50pm
Quoting Ilovefx
Sure FA has impact on trady. Fondamentals are very important. Other news, sure are very important. Seen i'm leaving in Belgium, i could not access to speciallized TV like CNBC (never seen before) I've got only CNN. Then i trade only with technical, pattern, FIB, Candles. Taking away from FA and after see the market how will do and follow trend. Sometimes scalp and when a clear plan is ready i enter for day trading. I never take a long trade and follow it for days or weeks. Maybe with more experience i'll do it.

PS: Actually again descending wedge...
You can get cnbc in england so belgium should be ok
Broke down on motorbike in German speaking part of Belgium. Went to police station - the inspector had married an english girl 3 weeks earlier and his best friend was a suzuki dealer - we all went out for dinner then i was on my way - see what I mean about lucky ?
Better than brains
  • #157,790
  • Aug 13, 2009 1:51pm Aug 13, 2009 1:51pm
Quoting GlobalMacro
bro you still holding long?
I am flat right now but I think today's high was a tough nut to crack, probably starting to head south soon? what do you think?
ES rejecting 1010.00 five times now, potentially forming a top here....
Attached Image
Hear the music before the song is over ...
  • #157,791
  • Aug 13, 2009 1:53pm Aug 13, 2009 1:53pm
there's a loads of places you can watch it online free.
http://www.google.com/#hl=en&q=watch...3438fbc28dc0ec

Quoting Ilovefx
Seen i'm leaving in Belgium, i could not access to speciallized TV like CNBC (never seen before) I've got only CNN.
PM Me If You Need Help!
  • #157,792
  • Aug 13, 2009 1:54pm Aug 13, 2009 1:54pm
My second long in 2 days
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 21 KB
  • #157,793
  • Aug 13, 2009 2:06pm Aug 13, 2009 2:06pm
Quoting allserene
Well that is pure technicals of course but how is that affected if the DOW goes to 8700 ?

I know technicals work in a vacuum and dont allow for terrorist attacks or stock market crashes or international incidents or oil prices etc and that's why I dont go with technicals all the time

Most of cnbc believes a stock mkt correction is imminent and they could be right this time

Presumably that will take cable down ?
Given the correlation between cable and equities in recent months, the odds have to be weighted heavily in favour of a sell-off in the latter dragging down the former. On a broad basis, the dollar will benefit from any renewed risk aversion, as commodities and commodity-linked currencies, and EM assets will likely be the first to suffer. It would be very strange not to have a correction in the stock market, given that the S&P 500 has climbed 50% from its March lows.

One of the main leading drivers of this rally has been the stunning performance of the Shanghai Composite Index, which has climbed an amazing 90% in 2009, before falling back in recent days. This pullback is demonstrated by a clear double top (see attached chart). Could China also be the leader in a corrective move down in equities, which would have a huge bearing on the direction of cable?

http://www.bloomberg.com/apps/cbuild...1=SHCOMP%3AIND

There is increased speculation that the government in China will start to curtail the explosion in bank credit, which, along with infrastructure spending, is behind much of China's miracle GDP figures - exports have collapsed y-o-y. There are fears that this loose lending policy is fuelling another bubble in local equities and real estate, and an influx of "hot money".

I think that a daily close on the S&P500 below 1,000 will be a bearish signal for investors, one that could tempt a few short-sellers into the market and lead to a bout of profit-taking.
  • #157,794
  • Aug 13, 2009 2:10pm Aug 13, 2009 2:10pm
nice chart bizard and congrats on your 100 post!

McD
  • #157,795
  • Aug 13, 2009 2:12pm Aug 13, 2009 2:12pm
Quoting BobHall
there's a loads of places you can watch it online free.
http://www.google.com/#hl=en&q=watch...3438fbc28dc0ec
Thanks BOB for the link, i'm researching.
If you resist at heart attack, you will be rich from trading.
  • #157,796
  • Aug 13, 2009 2:14pm Aug 13, 2009 2:14pm
Quoting gammase1
Given the correlation between cable and equities in recent months, the odds have to be weighted heavily in favour of a sell-off...........

I think that a daily close on the S&P500 below 1,000 will be a bearish signal for investors, one that could tempt a few short-sellers into the market and lead to a bout of profit-taking.
Bravo!...This is some heavy-duty professional-level analysis you unleashed here, my friend..Glad to have you here in this thread...
Hear the music before the song is over ...
  • #157,797
  • Aug 13, 2009 2:15pm Aug 13, 2009 2:15pm
Quoting GlobalMacro
bro you still holding long?
I am flat right now but I think today's high was a tough nut to crack, probably starting to head south soon? what do you think?
Hey gm, no I've closed my longs. Flat atm. Contemplating on shorting but not just yet. Maybe tomorrow.
I had this up last weekend :
http://www.forexfactory.com/showpost...postcount=2275
and it'll be something if I could short and get that evening star formation again.
Guess I'll wait for now.
Thank You
  • #157,798
  • Aug 13, 2009 2:18pm Aug 13, 2009 2:18pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
T-notes rallied on Thursday after July retail sales data trailed analyst estimates. Later on, they received another boost after a well received USD 15bln 30y note auction, touching on highs 117.05. At the pit close t-notes finished up 26+ ticks at 117.00+



We still have buyers for cable , it's not going below 6550 for some reason...
may be tomorrow.

Also, what the heck is happening to US. These boys are just ignoring major news?? Some days they would just take on board any crap they find and drag the currency down and then we have days like this.

Well, well, all is fair in love and forex, lol :-)

Tell me who is not sure there is no manipulation in the markets. It can only be done by major banks.
  • #157,799
  • Aug 13, 2009 2:18pm Aug 13, 2009 2:18pm
Quoting gammase1
I think that a daily close on the S&P500 below 1,000 will be a bearish signal for investors, one that could tempt a few short-sellers into the market and lead to a bout of profit-taking.
Yes it's all about risk reward now

Chance of 8700 on the DOW in the next x months, is higher than 9900 I would say

Also, avoiding losses is more important than missing profits after such a hairy time

I have gone to 40% cash on shares and bought some DOW short etf - 'DOG'

As a peurile aside, I googled a lady working as a teacher in Utah by the name of Nora Bone. My wife doesn't like 'childish' humour so I wait for her to go to work before I chuckle
http://www.utahsright.com/salaries.p...all&query=nora
  • #157,800
  • Aug 13, 2009 2:20pm Aug 13, 2009 2:20pm
Quoting wormboy
Hey gm, no I've closed my longs. Flat atm. Contemplating on shorting but not just yet. Maybe tomorrow.
I had this up last weekend :
http://www.forexfactory.com/showpost...postcount=2275
and it'll be something if I could short and get that evening star formation again.
Guess I'll wait for now.
Also there might be a chance of retest of the highs just to make sure the resistance is solid and got no cracks in it....
Hear the music before the song is over ...
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