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Cable Update (GBPUSD)

  • #194,621
  • Jan 20, 2010 12:40pm Jan 20, 2010 12:40pm
Maybe jp... I have been waiting for hours to see what happens on the BO of triangle... I myself have no clue which way it intends to go butmost of the guys in here seem to think south.... Either way I'm just gonna enter at a break of 300 or 250...... Thats my plan for now anyway................What do you think???

Quoting jp09
anyone thinking south from here??
  • #194,622
  • Jan 20, 2010 12:41pm Jan 20, 2010 12:41pm
Quoting istacks
I'm holding shorts on USD/CAD since .0350 and adding more till around .0600 . Cable annoys me but short biased.
you traders in the us/cad , use the cad/jpy for an inverse pair if the cadyen is dropping its not a good time to be shting the usd/cad , look at some charts of both and you will get what I mean
  • #194,623
  • Jan 20, 2010 12:53pm Jan 20, 2010 12:53pm
Quoting No Stress
One month before, everybody was speaking about the weaker dollar. Suddenly, the dollar becomes strong!! Many now are saying, it will become stronger. The US economy become safer and stronger within a month? In Eur/Usd, 1000 pips lost in one month because Greece and TIC. Last time we saw that was between march 20th and april 20th last year. History repeats or there is something from Insiders?
I usually base my very long term outlook on what the COT says. It is the Commitment of Traders report for Futures. It is an interesting tool and can be used to find some good pairs to trade.

I follow the Large Traders which are usually offset by the Commercial traders.

EX. in my charts the Green Line(Large Traders) on the USD are Positive meaning there are more future contracts that think the dollar will rise. On the GBP they are negative meaning there is more future contracts that think the GBP will fall. Thats how I get my quick Dollar Strong Pound weak thinking.

Just thought I might share this since I have recieved lots of great Ideas and Techniques here from the Forex Factory Community.

Oh and everybody don't forget to wrtie the CFTC stating why 10:1 leverage is a horrible idea

http://www.forexfactory.com/showthread.php?t=215913
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPCOT.png Size: 30 KB
Click to Enlarge Name: USDCOT.png Size: 31 KB
  • #194,624
  • Jan 20, 2010 1:00pm Jan 20, 2010 1:00pm
Quoting maxss280
I usually base my very long term outlook on what the COT says. It is the Commitment of Traders report for Futures. It is an interesting tool and can be used to find some good pairs to trade.

I follow the Large Traders which are usually offset by the Commercial traders.

EX. in my charts the Green Line(Large Traders) on the USD are Positive meaning there are more future contracts that think the dollar will rise. On the GBP they are negative meaning there is more future contracts that think the GBP will fall. Thats how I get my quick Dollar Strong...
That is very interesting. Thanks.

BTW..do you have a link where we can give our thoughts to the CFTC?
"Keep your eyes on the helpers" - Mr. Rogers
  • #194,625
  • Jan 20, 2010 1:10pm Jan 20, 2010 1:10pm
In year 1974 GBPusd was 2.600 then felt in 1977 to 1.600 went back up 2.500 in year 1981 then in 1985 tested 1.1000 region.

I have some time....

I found this on:
http://www.netdania.com/Products/liv...Chart.aspx?m=c
I am back. Actually, I never left...
  • #194,626
  • Jan 20, 2010 1:17pm Jan 20, 2010 1:17pm
Quoting damonl
That is very interesting. Thanks.

BTW..do you have a link where we can give our thoughts to the CFTC?
A link to the comment form is here I don't remember the exact registrar date and number though.
  • #194,627
  • Jan 20, 2010 1:25pm Jan 20, 2010 1:25pm
To see a summary of the proposed changes with a link to the full report, see
http://www.global-view.com/forums/th...ed+Regulations

See below for instructions on how to submit your comments.
You may submit comments, identified by RIN3038-AC61, by any of the following methods:

1) Email : secretary@cftc. gov. Include
Regulation of Retail Forex
in the subject line of the message.
2) Federal eRulemaking Portal: http//www.regulatio ns.gov/search/ index.jsp Follow instructions for submitting comments.
3) Fax (202)418-5521
4) Mail: Send to David Stawick, Secretary, Commodity Futures Trading Commission, 1155 21st Street,. N.W., Washington, DC 20581
  • #194,628
  • Jan 20, 2010 1:26pm Jan 20, 2010 1:26pm
Quoting maxss280
A link to the comment form is here I don't remember the exact registrar date and number though.
Thanks...here is the other info you will need.

Register Date: Jan, 20th, 2010
Register #: 75 FR 3281
"Keep your eyes on the helpers" - Mr. Rogers
  • #194,629
  • Jan 20, 2010 2:09pm Jan 20, 2010 2:09pm
Quoting No Stress
One month before, everybody was speaking about the weaker dollar. Suddenly, the dollar becomes strong!! Many now are saying, it will become stronger. The US economy become safer and stronger within a month? In Eur/Usd, 1000 pips lost in one month because Greece and TIC. Last time we saw that was between march 20th and april 20th last year. History repeats or there is something from Insiders?
This may be as typically if the dollar takes a dump stock rise. I am thinking that the stock market is about to crash again so it would make sense if the dollar rises based on that. Obviously there are other factors involved as well but in short, it is a good posibility.
  • #194,630
  • Jan 20, 2010 2:38pm Jan 20, 2010 2:38pm
Quoting jaboo
hey, which platform are you using?
mt4
  • #194,631
  • Jan 20, 2010 2:38pm Jan 20, 2010 2:38pm
My last post for today
Asian session will be very important ,I'm Waiting to see 1.6240 to feel better for my sell positions , otherwise if we break TL and 1h close 1.63 this will be really annoying me.

4H AND Daily pointing down but hope 1h confirm this Let's see

Time to sleep,cya
Attached Image (click to enlarge)
Click to Enlarge Name: 1hgbp.gif Size: 63 KB
  • #194,632
  • Jan 20, 2010 2:57pm Jan 20, 2010 2:57pm
Quoting No Stress
One month before, everybody was speaking about the weaker dollar. Suddenly, the dollar becomes strong!! Many now are saying, it will become stronger. The US economy become safer and stronger within a month? In Eur/Usd, 1000 pips lost in one month because Greece and TIC. Last time we saw that was between march 20th and april 20th last year. History repeats or there is something from Insiders?
markets move in cycles ....

one year euro will be strong , next gbp , next usd.

while everyone was bearish usd i kept on talking about the strength I was seeing in the volumes on the dx. It was NO surprise that eur tanked,. IT took 10 weeks of massive dx accumualtion / doallr buying to do this. This is not something that just happened overnight

The news just makes it seem like this... take for example today. The selling was seen oin DJ ultra high volumes in last 60 min charts , today was going to be a down day. The news had to justify it , blaming it on BOA , earnings , china and anythings else.

Now tomorrow if dj goes up it will be on the back of Starbucks to the rescue with better than expected earnings.

USD is going into a buy cycle .... do not ask me why , what or how ... the fundies of us are crap , the debt clock keeps ticking etc etc .. fact is we are just in another cycle of the charts
Blogging daily now at www.volume.zone
  • #194,633
  • Jan 20, 2010 3:01pm Jan 20, 2010 3:01pm
Say Malcolm, is GBP ready to dive, or. you think we can see a little bit more of upward movement?
I am back. Actually, I never left...
  • #194,634
  • Jan 20, 2010 3:04pm Jan 20, 2010 3:04pm
im short from 298. SL above the 26.3% fib level from 16456 down to 15833 at around 16310

jp
  • #194,635
  • Jan 20, 2010 3:05pm Jan 20, 2010 3:05pm
Very tight SL, mine are set at 6330
I am back. Actually, I never left...
  • #194,636
  • Jan 20, 2010 3:10pm Jan 20, 2010 3:10pm
Quoting taragula
Very tight SL, mine are set at 6330

yes i think that 310 should be a good strong resistance if it manages to break out of the pin.... the EURUSD tanked 'yesterday' and the GBPUSD didnt take as much of the brunt as expected...
  • #194,637
  • Jan 20, 2010 3:11pm Jan 20, 2010 3:11pm
Well...another scalping session looking to accidentally catch a big 40 pip move in the process.

According to my 1M chart, I am currently looking to scalp long.

Green pips to everyone

Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #194,638
  • Jan 20, 2010 3:19pm Jan 20, 2010 3:19pm
Quoting damonl
Well...another scalping session looking to accidentally catch a big 40 pip move in the process.

According to my 1M chart, I am currently looking to scalp long.

Green pips to everyone

Attachment

That setup looks very similar.

You'll be lucky tonight, it's DEAD as a Dead Dead thing


Did someone close the Forex markets and not tell us ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #194,639
  • Jan 20, 2010 3:21pm Jan 20, 2010 3:21pm
Quoting taragula
Say Malcolm, is GBP ready to dive, or. you think we can see a little bit more of upward movement?

my thoughts on gbp right now are that there are a load of easier things to trade

even ES which has been nasty the last 3 weeks is easier than GBP

what GBP is good for is intraday scalping on a 5 min chart with tight stops. that daily doji says down , the fact that everything esle drops and GBP stays up close to 1.6300 says no selling interest yet.

Euro has dropped 300 pip this week ... while gu has waffled around.. almost easier to trade eu or usdchf , gold , es , than gbp right now
Blogging daily now at www.volume.zone
  • #194,640
  • Edited 3:32pm Jan 20, 2010 3:22pm | Edited 3:32pm
this day (or week) maybe will be ranging (sideway)...,
if not range, than will be so bearish....
if not that all above, sure it must be so bullish....

hahaha....,that's all what market do....just pick one (if you want )...


want to follow the trend.....but......which trend???? (TF please...)


really2 have no idea..., i thought yesterday will break 1.6241, but it's not....so where will we go...,???
just let it flow honey....,
I will be the number one Manager.
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