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Cable Update (GBPUSD)

  • #232,361
  • Jun 18, 2010 3:54am Jun 18, 2010 3:54am
Add another sell @ 4880, TP 4750. All the best.
  • #232,362
  • Jun 18, 2010 3:55am Jun 18, 2010 3:55am
Quoting Ctic
I feel it will breakout topside first to sucker the bulls in, and then drop hard... rise to 1.4885 - 1.49 then drop. But being options expiration today, who knows....
Was thinking exactly the same, something smelly in PA atm, yes maybe options.
I'll stay away untill monday
Don't be a hero. Don't have an ego. Always question yourself
  • #232,363
  • Jun 18, 2010 3:56am Jun 18, 2010 3:56am
Quoting wormboy
another 10 bucks says all hell will break loose with dt & magix later
At least they speak the same demeaning language. LOL

Dr. D.
  • #232,364
  • Jun 18, 2010 3:58am Jun 18, 2010 3:58am
thanks for the link bbakker

Quoting bbakker
I am not trading today as it is triple witching day with triple witching hour between 3-4pm NY time. If you don't know what triple witching day is you can read about it here http://www.wisegeek.com/what-is-a-tr...tching-day.htm

Seeing some of those price fluctuations this morning with stupid 20-30 pip gaps on some brokers as per this m1 chart, trading is not for your novices today.

Attachment

There are only 4 Fridays in the year where it is triple witching day, so I am going to enjoy the World Cup today and probably...
"The real genius is knowing when to stop." - Marc Faber
  • #232,365
  • Jun 18, 2010 4:04am Jun 18, 2010 4:04am
bbaker: I would argue that this day is no different from any other in spot forex despite your observation re triple witching..maybe you just have some erroneous or missed data per your chart feed in 1min there,...mine and others I know are fine ? Each to their own though, but I just wanted to point out the sake of newbies that it is not neccessarily something to be more wary of in my experience in spot forex.
ex member
  • #232,366
  • Jun 18, 2010 4:08am Jun 18, 2010 4:08am
The current intraday hi is the top os the 4hr/daily t/f ascending channel and around the 50% of the 5522-4229 move...I wonder how strong the bears are here ?
ex member
  • #232,367
  • Jun 18, 2010 4:11am Jun 18, 2010 4:11am
Quoting mloistianto
Make it 15... i'm in...
Thank You
  • #232,368
  • Jun 18, 2010 4:11am Jun 18, 2010 4:11am
Quoting 4xStar
Only if Greenie gives them another goal
LOL. Lardy hands might not be playing today, but Capello won't annouce the team until 2 hours before kick-off!

The Americans make me laugh too. I am sure it was the USA Today newspaper and for the life of me I cannot find it on t'Internet, but the Front Page Headline was -

USA WINS

Even though it was a 1-1 draw with England
  • #232,369
  • Jun 18, 2010 4:11am Jun 18, 2010 4:11am
Still to fast to short, i think we must wait for a while....
Now....



http://www.forexfactory.com/attachme...0&d=1276848380
  • #232,370
  • Jun 18, 2010 4:13am Jun 18, 2010 4:13am
Quoting fourxtrader
At least they speak the same demeaning language. LOL

Dr. D.
lol
how's it going doc? all good i hope
Thank You
  • #232,371
  • Jun 18, 2010 4:13am Jun 18, 2010 4:13am
Quoting bbakker
I am not trading today as it is triple witching day with triple witching hour between 3-4pm NY time. If you don't know what triple witching day is you can read about it here http://www.wisegeek.com/what-is-a-tr...tching-day.htm

Seeing some of those price fluctuations this morning with stupid 20-30 pip gaps on some brokers as per this m1 chart, trading is not for your novices today.

Attachment

There are only 4 Fridays in the year where it is triple witching day, so I am going to enjoy the World Cup today and...
Thanks ! Informative & interesting post !
  • #232,372
  • Jun 18, 2010 4:15am Jun 18, 2010 4:15am
Quoting bbakker
but the Front Page Headline was -

USA WINS

Even though it was a 1-1 draw with England


they adopt the same principal as some traders do. Some traders categories getting out at breakeven as winners.
The americans count their draws as winners
Thank You
  • #232,373
  • Jun 18, 2010 4:17am Jun 18, 2010 4:17am
Quoting bbakker
USA WINS

Even though it was a 1-1 draw with England
Hey .. for soccer, anything less than a slaughter IS a win for US
******************* I'd rather make money than be right.
  • #232,374
  • Jun 18, 2010 4:18am Jun 18, 2010 4:18am
my view...
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 28 KB
  • #232,375
  • Jun 18, 2010 4:19am Jun 18, 2010 4:19am
Quoting wormboy
another 10 bucks says all hell will break loose with dt & magix later

u certainly on a mission to make wonga

I see i didnt miss much while i was off..im starting to wonder if i pc is working..this is slowwwwwww, comin like freeze frame
  • #232,376
  • Jun 18, 2010 4:23am Jun 18, 2010 4:23am
Quoting nAVIN2007
u certainly on a mission to make wonga

I see i didnt miss much while i was off..im starting to wonder if i pc is working..this is slowwwwwww, comin like freeze frame
aye .. preferably before the ingerland game. for the beer lol
Thank You
  • #232,377
  • Jun 18, 2010 4:24am Jun 18, 2010 4:24am
Quoting wormboy
aye .. preferably before the ingerland game. for the beer lol

yup cant wait for that!!..better than looking at this
  • #232,378
  • Jun 18, 2010 4:27am Jun 18, 2010 4:27am
Quoting bbmac
bbaker: I would argue that this day is no different from any other in spot forex despite your observation re triple witching..maybe you just have some erroneous or missed data per your chart feed in 1min there,...mine and others I know are fine ? Each to their own though, but I just wanted to point out the sake of newbies that it is not neccessarily something to be more wary of in my experience in spot forex.
So the Forex Spot and Futures market are not in anyway related and this morning's volatility is just a coincidence then.... mmmmmm. I like the way you say "it is not neccessarily something to be more wary of", but like you say "Each to their own though".

Lets see what happens for the rest of the day. I will be watching it from the sidelines. There are plenty of other days to trade in my view.
  • #232,379
  • Jun 18, 2010 4:27am Jun 18, 2010 4:27am
Quoting nAVIN2007
yup cant wait for that!!..better than looking at this
second that.

if green plays, we better pray they use a steel ball for the game.
Thank You
  • #232,380
  • Jun 18, 2010 4:41am Jun 18, 2010 4:41am
Quoting bbakker
So the Forex Spot and Futures market are not in anyway related and this morning's volatility is just a coincidence then.... mmmmmm. I like the way you say "it is not neccessarily something to be more wary of", but like you say "Each to their own though".

Lets see what happens for the rest of the day. I will be watching it from the sidelines. There are plenty of other days to trade in my view.

I'm certainly not saying that the spot and futures market are unrelated, they are, but the volatility this morning was not out of the norm in any way. From a tech trader point of view, we do not have to know which way the market moves or indeed why it is going/moving in that way, we simply play our edge, and all that is is a set-up/pattern that based on historical evidence gives a higher probability of one thing happening over another.
ex member
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