Cable Update (GBPUSD) | Page 12290 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #245,781
  • Aug 15, 2010 10:50am Aug 15, 2010 10:50am
salam all...
i a bit confused looking a there chart right now...
i see we are going to continue uptrend this week...
but it seem with bad data on GBP...look like we going down..
new low..
how u guy think?...
just asking there way it goes...not there point off entry..
Revesal Trader
  • #245,782
  • Aug 15, 2010 10:53am Aug 15, 2010 10:53am
Agreed.

Quoting cloggie
And we all know the mess Keynes continues to put us in.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #245,783
  • Aug 15, 2010 11:17am Aug 15, 2010 11:17am
Quoting cloggie
And we all know the mess Keynes and his followers continue to put us in.

found something interesting on CNN

Is this finally the economic collapse?
FORTUNE — The Great Depression. Wall Street in 1987. Japan in 1997. Points of economic collapse are generally crystal clear in the rear-view mirror. Professional politicians in Japan have been telling stories for 20 years as to why they can prevent economic stagnation. In the US, the storytelling started in 2007. All the while, stock market and real-estate prices have repeatedly rallied to lower-highs, then collapsed again, to lower-lows.

Despite the many differences between Japan and the US, there is one similarity that continues to matter most in the risk management model my colleagues and I use at Hedgeye, our research firm — debt as a percentage of GDP. Now that the US can’t cut interest rates any lower, the only option left on the table is what the Fed just announced it would start doing — buying Treasury debt. And that could lead the country to the brink of collapse: According to economists Carmen Reinhart & Ken Rogoff, whose views we share, crossing the 90% debt/GDP threshold is the equivalent of crossing the proverbial Rubicon of economic growth. It’s a point from which it’s almost impossible to return.

On July 2nd, we cut both our third quarter 2010 and full year 2011 GDP estimates for the US to 1.7%. At the time, the consensus around US economic growth estimates was about 3%. Now we’re starting to see both big brokerage analysts and the Federal Reserve gradually cut their GDP estimates, but not by enough. Even our estimate for 2011 is still too high.

Slowing growth, both domestically and in China, is core to our bearish views on both the strength of the US dollar and US equities. There will be a downward bias to our US growth estimates as long as debt-financed-deficit-spending continues to be the solution politicians and central bankers turn to as a fix to our financial crisis.

… the ‘government is good’ crowd leaked word that this second round of “quantitative easing,” known as QE2, was coming, and that Ben Bernanke was going to respond to our buy-and-hope begging. (The first round of quantitative easing was the Fed’s unprecedented purchase of agency debt to prop up the housing market, along with credit facilities for big banks, which began in 2008 and ended earlier this year.)
….
So now what?
With 40.8 million Americans on food stamps (record high) and 45% of the unemployed having been seeking employment for 27 weeks or more (record high), what’s left if (or when) QE2 doesn’t kick start GDP growth? Should we start begging for QE3? Should we cancel the bomb of the National Association of Realtors’ existing home sales report, scheduled for public release on August 24th? Or should we bite the bullet and accept that current economic policy dictates 0% returns-on-savings, even as Washington continues to lever-up our future to the point of economic collapse?

Before the Fiat Fools — Hedgeye’s name for political actors and bankers who have placed their hopes of economic recovery in printing endless supplies of new cash — run out campaigning for QE3, maybe they should analyze some real time market results to yesterday’s announcement of QE2:

1)The US dollar is battling for resuscitation after 9 consecutive down weeks — down 9% since June.
2) US Treasury yields are making record lows on the short end of the curve, with 2-year yields striking 0.49%.
3) The yield spread (in this case the difference in return between 10-year and 2-year Treasury bills, which shows a long-term confidence when high) continues to collapse, down another 4 basis point day-over-day to 223 basis points.
4) The S&P 500 is down below its 200-day moving average (a common signpost for the health of a market or stock) of 1115.
5) US Volatility (VIX) is spiking from its recent stability.
6) In Japan, long time quantitative easing specialists found their markets closing down overnight by 2.7%, which makes them down 11.9% for the year to date.

Lest our doom and gloom seem built entirely on technical measurements, what they boil down to is actually quite simple — an idea about our country which dates back to 1835. Alexis De Tocqueville, author of Democracy in America, which was published that year, seemed to warn of this day when he wrote: “The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”
  • #245,784
  • Aug 15, 2010 12:03pm Aug 15, 2010 12:03pm
Just a little diff. count?? Red weekly..the blue ABC D? If price doesn't go past blue A=possible D=1.6300 area..If blue C goes below blue A..maybe a count towards red B??? Only my humble oponion!!
Quoting StarChild
sorry to interrupt u guys ..but I see positive divergence on the 4h macd histogram
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.gif Size: 37 KB
  • #245,785
  • Aug 15, 2010 12:25pm Aug 15, 2010 12:25pm
Quoting forexlion
i said 1.75 just to play around with nutcases on this board, we both know better
none bigger than you. no more 1.75 now? your super duper elliot wave software has a new count now?

lose the software. that thing is a joke
Thank You
  • #245,786
  • Aug 15, 2010 12:35pm Aug 15, 2010 12:35pm
Quoting CoffeeDrinke
and you still rather arrogant hey, let me tell you buddy, longer term move was up, big move down in a week, thts calling for a retracment up, i neva said it was going to skyrocket, liftoff to the moon but i said tht there could be a nice long trade of 15min then set up for longer term move down if it happens, as i said it might, go down point b correction.
pay attention to the W1 close. It's looking to close a massive bearish engulfing.
The D1 has those 3 crows. Tho overall trend had been bullish, it's hard to see how cable is not going to print lower with all these signals showing on the higher timeframes. All in all I honestly think the m15 trades you're taking off from will yield better returns on the short side.

Also, chart below is the W1 usdx closing almost similar to a marubozu. That shows strength. A lot of it.
Just a thought.
Attached Image (click to enlarge)
Click to Enlarge Name: dx.gif Size: 16 KB
Thank You
  • #245,787
  • Aug 15, 2010 12:39pm Aug 15, 2010 12:39pm
Anyone ever heard of this?

http://www.thestreet.com/story/10835...-imminent.html

Comments?
******************* I'd rather make money than be right.
  • #245,788
  • Aug 15, 2010 12:42pm Aug 15, 2010 12:42pm
Quoting wormboy
none bigger than you. no more 1.75 now? your super duper elliot wave software has a new count now?

lose the software. that thing is a joke
ew is a joke .... sorry to anyone that uses it , but when wave counts do not work , then ew traders just do the wave count again...

fibs , s/r and what I use , prior days value area work like a charm
Blogging daily now at www.volume.zone
  • #245,789
  • Aug 15, 2010 12:50pm Aug 15, 2010 12:50pm
Quoting malcolmb14
ew is a joke .... sorry to anyone that uses it , but when wave counts do not work , then ew traders just do the wave count again...

fibs , s/r and what I use , prior days value area work like a charm
yep. But there are undoubtedly some excellent elliotician. One would be PandoraBox. Doesn't post much but he really is a top ew trader in my book. I've seen him do those long term counts on EU & GY. Spot on on all calls.
But yes I agree, for us mere mortals, the ta you mentioned does get the job done effectively
Thank You
  • #245,790
  • Aug 15, 2010 12:54pm Aug 15, 2010 12:54pm
Quoting 4xStar
Anyone ever heard of this?

http://www.thestreet.com/story/10835...-imminent.html

Comments?

nope but took sells in es and puts in options based on this topping pattern in es that has been forming for 2 weeks now

thinking 1000 to 900 but I would like to see a move up on the daily and see how much interest we get . If we have a move up on no volume then this is a no demand and confirms the weakness

Attached Image (click to enlarge)
Click to Enlarge Name: chart2674.png Size: 239 KB
Blogging daily now at www.volume.zone
  • #245,791
  • Aug 15, 2010 12:57pm Aug 15, 2010 12:57pm
Quoting 4xStar
Well that post earned you a position on my iggy list ... which also cleaned up the thread a lot.
G/L trading.
And your reaction to his (or her) incoherent and rambling post has earned you a Vouch - for what little they are worth....

All the best...
  • #245,792
  • Aug 15, 2010 12:57pm Aug 15, 2010 12:57pm
Quoting wormboy
yep. But there are undoubtedly some excellent elliotician. One would be PandoraBox. Doesn't post much but he really is a top ew trader in my book. I've seen him do those long term counts on EU & GY. Spot on on all calls.
But yes I agree, for us mere mortals, the ta you mentioned does get the job done effectively
The same with the butterfly, bat & other colorful gartley patterns. I met a trader from Serbia or Croatia or one of those places .. and it was absolutely unreal to watch him nail moves in GY, GU, EJ to the pip, days in advance... but .. as you say, mere mortals cannot do this so for most people these highly tecchie systems are a waste of time compared to just watching price on a daily basis.
******************* I'd rather make money than be right.
  • #245,793
  • Aug 15, 2010 1:00pm Aug 15, 2010 1:00pm
Quoting gammase1
And your reaction to his (or her) incoherent and rambling post has earned you a Vouch - for what little they are worth....

All the best...
Many thanks
******************* I'd rather make money than be right.
  • #245,794
  • Edited 1:12pm Aug 15, 2010 1:10pm | Edited 1:12pm
Quoting 4xStar
The same with the butterfly, bat & other colorful gartley patterns. I met a trader from Serbia or Croatia or one of those places .. and it was absolutely unreal to watch him nail moves in GY, GU, EJ to the pip, days in advance... but .. as you say, mere mortals cannot do this so for most people these highly tecchie systems are a waste of time compared to just watching price on a daily basis.
yep. those patterns are great if you get the right people to analyse it. most of the ones trying to do it here are honestly out of sorts to put it mildly. I've seen failed bats being redrawn so many times it ended up looking like a peacock

let's just stick to the simple stuff
see ya tomorrow. gnite!
Thank You
  • #245,795
  • Aug 15, 2010 2:00pm Aug 15, 2010 2:00pm
Quoting 4xStar
Well that post earned you a position on my iggy list ... which also cleaned up the thread a lot.
G/L trading.
Can he just ignore me like tht, damn thts ungentleman like
O wel my friend if you take offence tht easaly then feel free not to want to chat to me G/L to you to.
  • #245,796
  • Aug 15, 2010 3:01pm Aug 15, 2010 3:01pm
Quoting CoffeeDrinke
Can he just ignore me like tht, damn thts ungentleman like
O wel my friend if you take offence tht easaly then feel free not to want to chat to me G/L to you to.
you probably just really pushed that offence by addressing her as a man

lol.. but you didn't know
  • #245,797
  • Aug 15, 2010 3:30pm Aug 15, 2010 3:30pm
Harmonic trading is maby not for everyone.
But no need to discredit that approch if it can't be handle by usual trader.

What is a simple 78.6% correction if not a return at congestion zone.
Or Gartley, witch is an ABCD way to correct the first leg.

In short, if you don't understand the logic behind, you better not using it, that's obvious, but that dosen't mean it dosen't work.

But, on my side, I need to say I am not a big fan of EW either, witch dosen't mean it dosen't work but I leave it to others.
So I understand your point, but can assure on my side that Harmonic is a good approch. Better then EW for me. Hehe!

Cheers!
"Flip that coin!"
  • #245,798
  • Aug 15, 2010 3:40pm Aug 15, 2010 3:40pm
Wormboy, would you agree, that we need a break of 700 or 560 to determine direction from here?
  • #245,799
  • Aug 15, 2010 4:06pm Aug 15, 2010 4:06pm
Quoting jaylovin
you probably just really pushed that offence by addressing her as a man

lol.. but you didn't know
Damn yeah lol well i just have tht way of always getting off on the wrong foot you know
  • #245,800
  • Aug 15, 2010 4:10pm Aug 15, 2010 4:10pm
Ok nice small gap up, lets wait for a retrace down, long long long praise the long haha
338 traders viewing now