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Cable Update (GBPUSD)

  • #192,981
  • Jan 14, 2010 4:14am Jan 14, 2010 4:14am
Quoting Jassim
There is a misconception in the market that if the rating of the US AAA is undermined, then USD will go down but GBP will go up...The reality is that if the rating of AAA of US goes down, then it will take GBP down with it....because UK is relying on US strength....thery are married. Thats where the confusion is here currently, once the market realizes the concequences, this baby will drop like crazy

UK's majority underlying assets are mostly US based, with current shitty economic situation in UK, and undermining the credit rating potential of...
So you're short all the way 1.2 level?
Thank You
  • #192,982
  • Jan 14, 2010 4:16am Jan 14, 2010 4:16am
Push the short button on 1.6280, looking for 1.6240 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,983
  • Jan 14, 2010 4:22am Jan 14, 2010 4:22am
Quoting wormboy
So you're short all the way 1.2 level?
I am short all the way in stages, currently on my index, the long signal started at 1.6270.... For me, breaking this level will take Gu down ward, the long signal is void... The momentum is not there, hence I am not convinced of long move...This is a false signal....I kept on telling this since Yesterday....

My indication is that, the first stop will be 1.6220...breaking that will take us to 1.6170, and then 1.610...Then we will see later
  • #192,984
  • Jan 14, 2010 4:22am Jan 14, 2010 4:22am
Quoting manize
Push the short button on 1.6280, looking for 1.6240 !
Safety TP, as always great decision making of urs nis .

Lets pray together, I'll have SL to BE
Guide me please
  • #192,985
  • Jan 14, 2010 4:27am Jan 14, 2010 4:27am
Quoting adie1976
Safety TP, as always great decision making of urs nis .

Lets pray together, I'll have SL to BE
My SL is - 40 pips, should dare loss to be success because loss is a part of trade !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,986
  • Jan 14, 2010 4:30am Jan 14, 2010 4:30am
Quoting wormboy
So you're short all the way 1.2 level?
I'm with you wormie!! go the Dollar
May the forex be with you |
  • #192,987
  • Jan 14, 2010 4:35am Jan 14, 2010 4:35am
Quoting manize
My SL is - 40 pips, should dare loss to be success because loss is a part of trade !
Could I ask you, you usually use 1:1 RRR or you just close a part of position?
  • #192,988
  • Jan 14, 2010 4:39am Jan 14, 2010 4:39am
Quoting Jassim
I am short all the way in stages, currently on my index, the long signal started at 1.6270.... For me, breaking this level will take Gu down ward, the long signal is void... The momentum is not there, hence I am not convinced of long move...This is a false signal....I kept on telling this since Yesterday....

My indication is that, the first stop will be 1.6220...breaking that will take us to 1.6170, and then 1.610...Then we will see later
Okay.
But it does not matter what you think. Everyone here thinks differently.
Many & I do mean many posters had called for lower levels since last Friday NFP spike and continued to do so this week. Today is Thursday and cable had went 400 pips the wrong way for those who kept on piling on shorts. That's fine and all because whatever you do, end of the day it comes down to one's risk tolerance & management.
Don't get me wrong, not attacking you, but take a look at all the posts. Majority here are daytraders, and your opinion on the AAA ratings and whatnot have little bearing to most of us who daytrade.
That being said, I do have a similar target as yours @6220 for my short position. And like you said, if we reach that level, then we will see later. I honestly do not care about UK or US bad economic situation when hitting the buy or sell order
Thank You
  • #192,989
  • Edited 4:55am Jan 14, 2010 4:42am | Edited 4:55am
Quoting scurt
Could I ask you, you usually use 1:1 RRR or you just close a part of position?
Depend on condition ! The absolute point can not be negotiated is putting SL a few bit above 1.6312. The target can be adjusted when arrived at 1.6240, hold or close, if hold and still down the risky ratio maybe become >1 (win) : 1 (loss) !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #192,990
  • Jan 14, 2010 4:44am Jan 14, 2010 4:44am
Quoting m.haggag
my short from 6303 closed +21 pips , there is trend supp
i was right ... the uptrend lines shows a strong supp , and cable also shows respect to trend lines from the start of the year unlike the usual
I'm out anyway , hope break it for u shorters
  • #192,991
  • Jan 14, 2010 4:44am Jan 14, 2010 4:44am
Quoting Jassim
There is a misconception in the market that if the rating of the US AAA is undermined, then USD will go down but GBP will go up...The reality is that if the rating of AAA of US goes down, then it will take GBP down with it....because UK is relying on US strength....thery are married. Thats where the confusion is here currently, once the market realizes the concequences, this baby will drop like crazy

UK's majority underlying assets are mostly US based, with current shitty economic situation in UK, and undermining the credit rating potential...
I completely disagree with you.

Investors see the UK as being far more vulnerable to a credit rating downgrade(s) than the US, which is borne out by the growing divergence in CDS spreads on the debt issued by the two nations.
  • #192,992
  • Jan 14, 2010 4:44am Jan 14, 2010 4:44am
Quoting FXFundi
I'm with you wormie!! go the Dollar
yes sir, long dollar! long dollar! for now ...
Thank You
  • #192,993
  • Jan 14, 2010 4:46am Jan 14, 2010 4:46am
Quoting gammase1
I completely disagree with you.

Investors see the UK at a far bigger risk of a credit rating downgrade than the US, which is borne out by the growing divergence in CDS spreads on the issued by the two nations.
Paul!

oh jassim you in trouble now lol
now where's me popcorn ..
Thank You
  • #192,994
  • Jan 14, 2010 4:48am Jan 14, 2010 4:48am
Quoting wormboy
Paul!

oh jassim you in trouble now lol
now where's me popcorn ..
Just put butter on mine...
Ghost Rider - WWTBMD?
  • #192,995
  • Jan 14, 2010 4:49am Jan 14, 2010 4:49am
Quoting gammase1
I completely disagree with you.

Investors see the UK as being far more vulnerable to a credit rating downgrade(s) than the US, which is borne out by the growing divergence in CDS spreads on the debt issued by the two nations.
Where is the disagreement here...we are agreeing on the same thing...UK's CDS is far more vulnerable than US, then UK is in deeper shit whats so ever if the rating of the US is undermined....Which means , GBP is going down the drain, I might use them for toilet papers
  • #192,996
  • Jan 14, 2010 4:49am Jan 14, 2010 4:49am
Quoting wormboy
Paul!

oh jassim you in trouble now lol
now where's me popcorn ..
Great to see you, Azim!

I had a poor opening week of 2010, but I am, thankfully, faring much better this week. I've stayed away from cable this week and concentrated on AUDJPY and EURJPY.

I've been reading your thread and am happy to see you've had a decent start to 2010.
  • #192,997
  • Jan 14, 2010 4:49am Jan 14, 2010 4:49am
Quoting gammase1
I completely disagree with you.

Investors see the UK as being far more vulnerable to a credit rating downgrade(s) than the US, which is borne out by the growing divergence in CDS spreads on the debt issued by the two nations.
Good to see you Paul !

Been a while.
Ghost Rider - WWTBMD?
  • #192,998
  • Jan 14, 2010 4:50am Jan 14, 2010 4:50am
Quoting albchr
Just put butter on mine...
Deal! Grab the beer!
Thank You
  • #192,999
  • Jan 14, 2010 4:53am Jan 14, 2010 4:53am
Quoting Jassim
Where is the disagreement here...we are agreeing on the same thing...UK's CDS is far more vulnerable than US, then UK is in deeper shit whats so ever if the rating of the US is undermined....Which means , GBP is going down the drain, I might use them for toilet papers
You post seemed to infer that the market believed the US was at greater risk of a downgrade, which you described as a "misconception in the market"...

Anyway, you have an easy year ahead. You can just place a short, no stop loss, and come back in December to bag your profits.

How are things in Dubai btw?
  • #193,000
  • Jan 14, 2010 4:53am Jan 14, 2010 4:53am
Quoting wormboy
Okay.
But it does not matter what you think. Everyone here thinks differently.
Many & I do mean many posters had called for lower levels since last Friday NFP spike and continued to do so this week. Today is Thursday and cable had went 400 pips the wrong way for those who kept on piling on shorts. That's fine and all because whatever you do, end of the day it comes down to one's risk tolerance & management.
Don't get me wrong, not attacking you, but take a look at all the posts. Majority here are daytraders, and your opinion on the AAA ratings...
You got a good a point there... I am facing bunch day traders in here...Good to know that...But, its good to have a breif on fundamentals as well while you are day trading....otherwise, you might get caught while scalping
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