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Cable Update (GBPUSD)

  • #202,581
  • Mar 1, 2010 8:25am Mar 1, 2010 8:25am
Quoting Magix
We are right @ 200EMA on 1m chart....

That'd be the first in line of resistance. IF we can confirm from here...a bull play might be possible...but we could just as easily fall from here and continue back down to LOD.
magix your 24 sma on the 15 minute has served me well today lol wouldnt argue with that one too much yet
  • #202,582
  • Mar 1, 2010 8:28am Mar 1, 2010 8:28am
Quoting javapips
thanks you goldenpips....


if there is no one (with his boker) break 1.4777, so possible lowest for this day (and maybe the all down trend from 1.7xx) is this price,,,.
if she break 1.4777 she could go much much lower to anywhere..,england Gov must be dizzy...
It is exactly what Mr King was looking for. He has been talking the £ down for the last few weeks. It seems everyone is bearish on the £, although I took my profit at 1.49, I am now waiting for another short entry around the 1.5 mark. Why swim against the tide?

Also Brown has gained on Cameron in the latest polls and there is an uncertainty of who will win the election, also not good for the £. Lowest on IG Index today was 1.4785 (Ask price)

http://www.forexcrunch.com/category/...p-usd-outlook/
http://www.bloomberg.com/apps/news?p...d=aJhONJ3Sdkqw
(Spot the typo when it states that UBS predicted it could fall quickly back to $1.05 or below.... this must be $1.50 as historically the £ has never been as low as $1.05!!!)
  • #202,583
  • Mar 1, 2010 8:29am Mar 1, 2010 8:29am
Nice Monday morning surprise.

Good Luck.
Attached Image (click to enlarge)
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  • #202,584
  • Mar 1, 2010 8:31am Mar 1, 2010 8:31am
Quoting manize
When did the exact time ?

if that's true (soros act) Bang manize...,he must did this from Sunday...

i ever re-analysis GU down when 1992, it's happen from sunday...(big down at Wednesday if i'm not false)

all analysis that week so impressive...,if we use all indicator and all tools,,,that week say's Down...and he did it in the right time...


back to this down, let see Friday close...,engulfing...,and we all say,"taking profit" , so why Monday open there is 'big gap' till below Friday low ?? is that not strange enough??? whose the crazy one make that gap? must be crazy big boys too...

i don't trade this day..,but to see this movement, i'm happy enough..,
I will be the number one Manager.
  • #202,585
  • Mar 1, 2010 8:34am Mar 1, 2010 8:34am
Agree. But for those who likes to trade against the trend, you still can do it with 2 keys point: trade only 1/2 the lots you normally trade and with tight stop. When I woke up and saw that I hit my TP of 50 pips overnight, I was thrilled. But when I went my chart and try to look to see where current price is, I can't see it within my current 15 min windows or 30 min windows. I have to zoom out and oh my, WTF?

Anywaz, can someone enlighten me as to what cause this move? I didn't see any major announcement overnight that's why I set my TP of only 50 pips and was happy when I woke up.






Quoting Jemmy
I think to risky to ride the bulls at this time..
  • #202,586
  • Mar 1, 2010 8:35am Mar 1, 2010 8:35am
Quoting digger1
magix your 24 sma on the 15 minute has served me well today lol wouldnt argue with that one too much yet
Currently holding the 1 and the 5m 24, price just above 200ema on 1m chart and heading for 24sma on 15....

I took a small bite up to the 200 ema, am sitting now, gotta leave shortly, so most likely away for the rest of NY.

Good luck on the day Dig!
Attached Image (click to enlarge)
Click to Enlarge Name: resist.jpg Size: 197 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #202,587
  • Mar 1, 2010 8:36am Mar 1, 2010 8:36am
Quoting Magix
Currently holding the 1 and the 5m 24, price just above 200ema on 1m chart and heading for 24sma on 15....

I took a small bite up to the 200 ema, am sitting now, gotta leave shortly, so most likely away for the rest of NY.

Good luck on the day Dig!
you too bro congrats on the hockey gold , very exciting game
  • #202,588
  • Edited 8:49am Mar 1, 2010 8:41am | Edited 8:49am
Quoting kingfisher
Soros is selling GBP !!!!
I had a word with a trader at UBS..he says UBS is selling GBP on behalf of Soros Fund Management LLC.
Soros is short on euro and gold as well.
I called Soros but he didn't answer me..

I sent him SMS "why didn't you tell me?"

He repplied "I am long in Cable stupid as**ole"

Morale of this story : "Even Soros could be wrong"
Patience + Discipline =
  • #202,589
  • Mar 1, 2010 8:42am Mar 1, 2010 8:42am
I took a little profit on that move, but just watching it reinforced my belief in money management. I'm sure many traders who thought -200 pips was the limit for Monday, bought up for a retrace with huge leverage hoping to make a quick easy buck, and in the end got their accounts wiped out.
  • #202,590
  • Mar 1, 2010 8:47am Mar 1, 2010 8:47am
Quoting Jemmy
I called Soros but he didn't answer me..

I sent him SMS "why didn't you tell me?"

He repplied "I am long in Cable stupid as**ole"

joke of the day
  • #202,591
  • Mar 1, 2010 8:48am Mar 1, 2010 8:48am
Quoting bbakker
It is exactly what Mr King was looking for. He has been talking the £ down for the last few weeks. It seems everyone is bearish on the £, although I took my profit at 1.49, I am now waiting for another short entry around the 1.5 mark. Why swim against the tide?

Also Brown has gained on Cameron in the latest polls and there is an uncertainty of who will win the election, also not good for the £. Lowest on IG Index today was 1.4785 (Ask price)

http://www.forexcrunch.com/category/...p-usd-outlook/
http://www.bloomberg.com/apps/news?p...d=aJhONJ3Sdkqw
(Spot...
that's not a call honey..., just my analysis base on EW...,i didn't trade too..,it's too late..,beside that i don't like being in the middle of trend, for me the choice is TOP or Bottom.
if go 'long' right no, who could give SL below 1.4777?? i can't.... so i didn't trade...
I will be the number one Manager.
  • #202,592
  • Mar 1, 2010 8:54am Mar 1, 2010 8:54am
Looks like we are well on the way to achieving this! New new yearly low in place. Cable still under pressure, Next stop 3900!

Is any one playing the Pound's weakness with Chunnel (EUR/GBP) trades?

Seems this pair can offer nice supplementary opportunities in times like this. Good luck all!!

http://www.marketwatch.com/story/eur...ece-2010-03-01
Quote
FRANKFURT (MarketWatch) -- The British pound fell sharply against the U.S. dollar and the euro on Monday, as worries about the outcome of the U.K. general election and the ability of the government to remedy the high fiscal deficit put the currency under heavy selling pressure.

Old lows and supports to break here.
Quoting XTrade
http://www.forexfactory.com/showpost...stcount=201997
Thus, if we continue, we could see cable set a new multi year low!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #202,593
  • Mar 1, 2010 8:54am Mar 1, 2010 8:54am
Quoting Jemmy
I called Soros but he didn't answer me..

I sent him SMS "why didn't you tell me?"

He repplied "I am long in Cable stupid as**ole"

Morale of this story : "Even Soros could be wrong"
that's could be true also jem..., so many 'expert' must be hope arround 1.5...and if they don't use SL they must be burn out...

i hope there is no one here using 30% account to catch the low....
I will be the number one Manager.
  • #202,594
  • Mar 1, 2010 9:00am Mar 1, 2010 9:00am
Quoting javapips
that's not a call honey..., just my analysis base on EW...,i didn't trade too..,it's too late..,beside that i don't like being in the middle of trend, for me the choice is TOP or Bottom.
if go 'long' right no, who could give SL below 1.4777?? i can't.... so i didn't trade...
I quoted your post as you had the low of the day and I quoted what the low was on IG Index and added more stuff that I found, so please don't think that I thought it was a call that you made.

Seems the BBC think the drop was caused because of the hung parliament fears -

http://news.bbc.co.uk/1/hi/business/8543007.stm

If there is no clear winner, it will hurt the £
  • #202,595
  • Mar 1, 2010 9:12am Mar 1, 2010 9:12am
Quoting Baby-Trader
. I only need to tell you something.
one day when I sleeping I saw a dream. a very painful dream.
I entered Long @---- can't remeber. and the price went down like a rocket to 1.41 and my account has been blowed.
believe me I saw that dream.
This post since 31 Dec 2009
http://www.forexfactory.com/showthre...76#post3333876

The dream comes true
  • #202,596
  • Mar 1, 2010 9:17am Mar 1, 2010 9:17am
No more counter trend trades but atleast i need 1.51 + to take a fresh short.
  • #202,597
  • Mar 1, 2010 9:18am Mar 1, 2010 9:18am
Quoting manize
Congratz bro got more than + 100 pips currently !

Thanks manize, in fact i actually have 3 positions long since:

1.47864 SL @ 4835 target 1.5810
1.48942 SL @ 4897 target 1.5305
1.49215 SL @ be (open after news, looking 1.5185)

let's see what happens... i know i'm crazy.
  • #202,598
  • Mar 1, 2010 9:18am Mar 1, 2010 9:18am
Quoting kingfisher
Soros is selling GBP !!!!

I had a word with a trader at UBS..he says UBS is selling GBP on behalf of Soros Fund Management LLC.

Soros is short on euro and gold as well.
Soros was short on gold at the beginning of Feb but on the 18th February Soros has more than doubled his investment in gold, despite calling it the "ultimate bubble" just weeks ago. He is short on Euro as well as GBP. Greece could default on it's debts by mid-March which would send the Euro crashing!

http://news.bbc.co.uk/1/hi/8521680.stm

Trying to navigate in these choppy waters is not easy!
  • #202,599
  • Mar 1, 2010 9:19am Mar 1, 2010 9:19am
Quoting kingfisher
No more counter trend trades but atleast i need 1.51 + to take a fresh short.
The question - will it go back there??? or carry on down...
  • #202,600
  • Mar 1, 2010 9:21am Mar 1, 2010 9:21am
Quoting bbakker
It is exactly what Mr King was looking for. He has been talking the £ down for the last few weeks. It seems everyone is bearish on the £, although I took my profit at 1.49, I am now waiting for another short entry around the 1.5 mark. Why swim against the tide?

Also Brown has gained on Cameron in the latest polls and there is an uncertainty of who will win the election, also not good for the £. Lowest on IG Index today was 1.4785 (Ask price)

http://www.forexcrunch.com/category/...p-usd-outlook/
http://www.bloomberg.com/apps/news?p...d=aJhONJ3Sdkqw
(Spot...
February 1985 1.0463
March 1985 1.0545
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