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Cable Update (GBPUSD)

  • #166,921
  • Sep 18, 2009 3:50am Sep 18, 2009 3:50am
Quoting okie
Selamat Ari Raya bro worm & bro grashid
thanks ..same goes to you
  • #166,922
  • Sep 18, 2009 3:50am Sep 18, 2009 3:50am
Are we there yet?...
Ghost Rider - WWTBMD?
  • #166,923
  • Sep 18, 2009 3:50am Sep 18, 2009 3:50am
Quoting GlobalMacro
then let beer flow...
oh wait! you can't drink today...darn!....this is getting better all the time...
Thanks mate, your a true troopper

In 30mins I have to run to the airport.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #166,924
  • Sep 18, 2009 3:51am Sep 18, 2009 3:51am
Quoting wormboy
not and pau la bro. "ang" is red. "che" is green. it's hokkien.
so it's "che pau"
macam kueh pau
  • #166,925
  • Sep 18, 2009 3:51am Sep 18, 2009 3:51am
Good day to you all,

Here are the current levels important to me. Numbered and referenced:

1) The monthly open @ 1.6286 looks like it may be a strong barrier at present.
2) Last week's low @ 1.6320 has blown it's wistle and has called price back to it's level.
3) Watch this level carefully @ 1.6340 - it will either reject price back down, or will allow price through. Should price hover and remain above this level, we may have an opportunity to go long.
4) The target then 1.6385

I closed my EURJPY trade @ 1.3375 1stTP, also took a small long back from 1.6305 - but only for +10 (got nervous)

PS - OK, see price has cleared most of the numbers mentioned whilst I was setting up the post. I guess then this is not helping anyone....

Good trading all!
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  • #166,926
  • Sep 18, 2009 3:51am Sep 18, 2009 3:51am
To those questioning the short move, here is my explanation and it is what I have been counting on ever since I began shorting last thursday.

Risk Aversion/Appetite is still very much the crucial factor in the currency markets, in particular the value of the USD.

Risk Appetite has just started to run wild again, and only because signs are starting to pick-up, Unemployment is still terrible, we all know this.

Equities are stretched to their limit. Gold is overbought, Oil is overbought. The dollar is massively oversold.

All it's going to take is a few pieces of bad news and then a sell-off in equities, for the dollar to regain some of the ground its lost.

Plus with all the positive factors for cable as mentioned before: equities just off 1 year high/gold making new high/oil etc/massive market optimism with comments from bernanke and buffett about the recession being over- Cable was still only at 1.6700, and NOT at its previous high at 1.7000.

That to me indicated underlying weakness and pessimism about the smoothness of the supposed 'V' shaped recovery.

That's how I see it anyway, and in case you haven't guessed, I'm still Short, next week will be the third week that I've held this cable position.
  • #166,927
  • Sep 18, 2009 3:52am Sep 18, 2009 3:52am
Quoting grashid
i told already.....007 project
yes...but you're forgetting a little unimportant detail...you told me already after I sold....
C'mon admit it...you enjoy this!...lol
Hear the music before the song is over ...
  • #166,928
  • Sep 18, 2009 3:53am Sep 18, 2009 3:53am
Quoting wormboy
If it helps, 380 is immediate resistance.
Thanks man...will be wathicng what will happen there and maybe close it. If it will go to 380, I'll be back in 1.9.2009 in my account, but I won't blow. Let's see what will happen..
-- There's no winner without lose --
  • #166,929
  • Sep 18, 2009 3:53am Sep 18, 2009 3:53am
Possible bullish engulfing candle developing - 1hr ?? 7mins to go till it's close
ex member
  • #166,930
  • Sep 18, 2009 3:53am Sep 18, 2009 3:53am
Quoting Bull_Bear
Thanks mate, your a true troopper

In 30mins I have to run to the airport.
Pssstt...hey buddy, take the car. It'll be easier to bring the folks home in...
Ghost Rider - WWTBMD?
  • #166,931
  • Sep 18, 2009 3:56am Sep 18, 2009 3:56am
Quoting grashid
now from here bro if u wanna short...
Should from 6450/60 ~ daily 38.2% last few hr in asian...
or shall we wait at 6350-6400 area?

Anyway i could be wrong...Good luck

is there yet? .....becarefull when one of big boy spoken out
  • #166,932
  • Sep 18, 2009 3:57am Sep 18, 2009 3:57am
Quoting bbmac
Possible bullish engulfing candle developing - 1hr ?? 7mins to go till it's close
Already long at 6300. But might closer her here. Not sure yet. 6350 might be good resistance now.
Ghost Rider - WWTBMD?
  • #166,933
  • Sep 18, 2009 3:57am Sep 18, 2009 3:57am
It is not breaking resistance at 1.6349
I am now closing all my long positions and REVERSING my long term trend of GBPUSD
I am now officially Short.
  • #166,934
  • Sep 18, 2009 3:58am Sep 18, 2009 3:58am
Quoting albchr
Pssstt...hey buddy, take the car. It'll be easier to bring the folks home in...
lol.... Mate I'm an average guy that drinks BEER. I'm no shampaign sipper

How r your trades?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #166,935
  • Sep 18, 2009 3:59am Sep 18, 2009 3:59am
Quoting albchr
Are we there yet?...
wtf? you laughing at me?
Thank You
  • #166,936
  • Sep 18, 2009 4:00am Sep 18, 2009 4:00am
Quoting GlobalMacro
yes...but you're forgetting a little unimportant detail...you told me already after I sold....
C'mon admit it...you enjoy this!...lol
ok la ok la..sorry for that...ok guys..time to go now...Good luck to you and all...and I relief the button now to WB....Cheers
  • #166,937
  • Sep 18, 2009 4:00am Sep 18, 2009 4:00am
Quoting Bull_Bear
Thanks mate, your a true troopper

In 30mins I have to run to the airport.
Whew! sorry bro...didn't know the moment of truth is in 30 mins...in that case a little shot of scotch wouldn't do no harm you know......
Hear the music before the song is over ...
  • #166,938
  • Sep 18, 2009 4:01am Sep 18, 2009 4:01am
Quoting grashid
ok la ok la..sorry for that...ok guys..time to go now...Good luck to you and all...and I relief the button now to WB....Cheers
Have a good one bro...
Hear the music before the song is over ...
  • #166,939
  • Sep 18, 2009 4:02am Sep 18, 2009 4:02am
Quoting JamesCZ
Thanks man...will be wathicng what will happen there and maybe close it. If it will go to 380, I'll be back in 1.9.2009 in my account, but I won't blow. Let's see what will happen..
Don't mention it
Take it easy james, don't make rash decision. Be cool
Thank You
  • #166,940
  • Sep 18, 2009 4:03am Sep 18, 2009 4:03am
Quoting grashid
ok la ok la..sorry for that...ok guys..time to go now...Good luck to you and all...and I relief the button now to WB....Cheers
okay bro eid mubarak again & enjoy the holidays!
Thank You
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