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Cable Update (GBPUSD)

  • #241,361
  • Jul 27, 2010 7:24pm Jul 27, 2010 7:24pm
i will be looking to short it, dollar index looks like it hit the floor and cot charts show sterling overbought, might be a nice correction if not reversal, they talk a lot about double dip recetion, watch dow, today was acting funny after consumer confidence report... buck may rally again see CHF looks like bottom to me...
  • #241,362
  • Jul 27, 2010 7:29pm Jul 27, 2010 7:29pm
Quoting dfptommyj
i will be looking to short it, dollar index looks like it hit the floor and cot charts show sterling overbought, might be a nice correction if not reversal, they talk a lot about double dip recetion, watch dow, today was acting funny after consumer confidence report... buck may rally again see CHF looks like bottom to me...
yes

there will be a correction and a very dirty one

i closed all my longs already, just waiting to see how much it falls, for a fresh entry
  • #241,363
  • Jul 27, 2010 7:35pm Jul 27, 2010 7:35pm
Quoting dfptommyj
i will be looking to short it, dollar index looks like it hit the floor and cot charts show sterling overbought, might be a nice correction if not reversal, they talk a lot about double dip recetion, watch dow, today was acting funny after consumer confidence report... buck may rally again see CHF looks like bottom to me...
hey bro! so what sort of correlation do you look for between, dollar index, dow and cable then (and euro)? also are you suggesting that CHF would go up then if cable drops? just asking as I have no idea and still learning - all knowledge would be gratefully received!

thanks
"Millionaires don't use astrology, billionaires do"
  • #241,364
  • Jul 27, 2010 7:44pm Jul 27, 2010 7:44pm
Waiting for this hourly close, a red close will make me going short, otherwise i'll wait london's open
COT: The precious data ignored
  • #241,365
  • Jul 27, 2010 7:44pm Jul 27, 2010 7:44pm
Quoting forex_growth
hey bro! so what sort of correlation do you look for between, dollar index, dow and cable then (and euro)? also are you suggesting that CHF would go up then if cable drops? just asking as I have no idea and still learning - all knowledge would be gratefully received!

thanks
well, $ is still considered "safe haven" if things go wrong with stocks and economy in general there is a bias to buy $ and all others are RISK, so they take profits, indexes plunge and buck goes up...
  • #241,366
  • Jul 27, 2010 7:46pm Jul 27, 2010 7:46pm
Quoting dfptommyj
well, $ is still considered "safe haven" if things go wrong with stocks and economy in general there is a bias to buy $ and all others are RISK, so they take profits, indexes plunge and buck goes up...
aaah I see - would you expect to see gold go up then too?

cheers
"Millionaires don't use astrology, billionaires do"
  • #241,367
  • Jul 27, 2010 7:48pm Jul 27, 2010 7:48pm
Quoting kuroro001
Waiting for this hourly close, a red close will make me going short, otherwise i'll wait london's open
dont short it yet, let it hit the 100 ma on weekly, just a sudgestion, plus this guy King will speak after L opens, hell knows what he's got to say...
  • #241,368
  • Jul 27, 2010 7:54pm Jul 27, 2010 7:54pm
Quoting forex_growth
aaah I see - would you expect to see gold go up then too?

cheers
if dollar rallys strong - no, but who knows, thats another "safe haven" against inflation these days
  • #241,369
  • Jul 27, 2010 7:56pm Jul 27, 2010 7:56pm
Quoting dfptommyj
if dollar rallys strong - no, but who knows, thats another "safe haven" against inflation these days
cool thanks for your input!!
"Millionaires don't use astrology, billionaires do"
  • #241,370
  • Jul 27, 2010 7:58pm Jul 27, 2010 7:58pm
Quoting dfptommyj
dont short it yet, let it hit the 100 ma on weekly, just a sudgestion, plus this guy King will speak after L opens, hell knows what he's got to say...
Yeh, well anyway it's about the close in the green , so no shorts for me.
I'll wait london!
And if King speaks i'll stay out until he finishes all the garbage he has to say
COT: The precious data ignored
  • #241,371
  • Jul 27, 2010 8:50pm Jul 27, 2010 8:50pm
Quoting kuroro001
Yeh, well anyway it's about the close in the green , so no shorts for me.
I'll wait london!
And if King speaks i'll stay out until he finishes all the garbage he has to say
u mean King is marrying the Queen ?
  • #241,372
  • Jul 27, 2010 8:58pm Jul 27, 2010 8:58pm
Quoting forex_growth
aaah I see - would you expect to see gold go up then too?

cheers
n its time to re-load gold with long

good luck

g
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  • #241,373
  • Jul 27, 2010 9:03pm Jul 27, 2010 9:03pm
Quoting grashid
n its time to re-load gold with long

good luck

g
I don't trade Gold but took a look on it "In my view NOT YET"
Possible much more down
Take care Bro Plz
  • #241,374
  • Jul 27, 2010 9:10pm Jul 27, 2010 9:10pm
Quoting egkid
I don't trade Gold but took a look on it "In my view NOT YET"
Possible much more down
Take care Bro Plz
woooots yer trade on beast
  • #241,375
  • Jul 27, 2010 9:15pm Jul 27, 2010 9:15pm
Quoting egkid
I don't trade Gold but took a look on it "In my view NOT YET"
Possible much more down
Take care Bro Plz
I agree.. reckon at least 1.54ish... possibly
"Millionaires don't use astrology, billionaires do"
  • #241,376
  • Jul 27, 2010 9:41pm Jul 27, 2010 9:41pm
Quoting forexlion
u mean King is marrying the Queen ?
lol kinda
COT: The precious data ignored
  • #241,377
  • Jul 27, 2010 11:08pm Jul 27, 2010 11:08pm
welp cable had just arrived at another level on my W1 chart. Coincidentally this level is also the monthly resistance level mentioned yesterday (5597). What happens here will be interesting.
No trades for me today. Hope everyone has a profitable day. Good luck
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Thank You
  • #241,378
  • Jul 27, 2010 11:23pm Jul 27, 2010 11:23pm
Quoting GlobalMacro
for all you channel aficionados...here are two cable charts showing the beat (bullish one that is) still goes on...

I've taken a long position on break of 1.5560

will have to see what Asian and early LDN trading brings...
alright I am exiting my longs here at 1.5623...and will stay flat...
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Hear the music before the song is over ...
  • #241,379
  • Jul 27, 2010 11:31pm Jul 27, 2010 11:31pm
Quoting GlobalMacro
alright I am exiting my longs here at 1.5623...and will stay flat...
excellent trading bro
Thank You
  • #241,380
  • Jul 27, 2010 11:32pm Jul 27, 2010 11:32pm
hi all

im still flat right now.still waiting for big drop.hopefully 1.57 hold.
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