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Cable Update (GBPUSD)

  • #251,381
  • Sep 7, 2010 6:51am Sep 7, 2010 6:51am
Quoting GlobalMacro
Ok...support gave in...

Stopping & reversing @ 1.5320
Welcome aboard the gravy train buddy
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #251,382
  • Sep 7, 2010 6:54am Sep 7, 2010 6:54am
Quoting AdrianHNV
And it will again
again...in n down or up n out...?
Hear the music before the song is over ...
  • #251,383
  • Sep 7, 2010 6:56am Sep 7, 2010 6:56am
Quoting Bull_Bear
Welcome aboard the gravy train buddy
LOL...
yo b...she better goes down alright...we need to get beer money dawg...
Hear the music before the song is over ...
  • #251,384
  • Sep 7, 2010 6:56am Sep 7, 2010 6:56am
All the breakout players in short yet?...decisive break or stop run at the lows ??...what about a pullback to congestion and 2nd b/o ??...will this shake out the weaker b/o and other shorters ??...38.2% 4229-5997 remains intact....below here next significant downside fib is the 76.4% 4944-5995 @ 5195 area. although 61.8% 4870-5997 is @ 5301.

G/L
ex member
  • #251,385
  • Sep 7, 2010 6:57am Sep 7, 2010 6:57am
Quoting GlobalMacro
LOL...
yo b...she better goes down alright...we need to get beer money dawg...
No worries mate.... BEERS on me when she hits my target.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #251,386
  • Sep 7, 2010 6:59am Sep 7, 2010 6:59am
Quoting bbmac
All the breakout players in short yet?...decisive break or stop run at the lows ??...what about a pullback to congestion and 2nd b/o ??...will this shake out the weaker b/o and other shorters ??...38.2% 4229-5997 remains intact....below here next significant downside fib is the 76.4% 4944-5995 @ 5195 area. although 61.8% 4870-5997 is @ 5301.

G/L
Law of averages, I expect the first just to be a shake out, if I am proven wrong, I'll be the first to jump back in again, for now covered the postition.

Looks like we have another day driven by the equities, lots of covering of last weeks' rally. Both Dow and SnP futures are finding some support here, this could well be positioning for a further drop on the NY open. es below 1100. Oil continues to drop too on the back of inventory numbers last week, the start of huricane season is not a good time to short it though, but the US may drop inventories on the market on the first storm hitting and again oil is showing signs of profit taking.
  • #251,387
  • Sep 7, 2010 7:05am Sep 7, 2010 7:05am
Quoting bbmac
All the breakout players in short yet?...decisive break or stop run at the lows ??...what about a pullback to congestion and 2nd b/o ??...will this shake out the weaker b/o and other shorters ??...38.2% 4229-5997 remains intact....below here next significant downside fib is the 76.4% 4944-5995 @ 5195 area. although 61.8% 4870-5997 is @ 5301.

G/L
not yet, h1 candle is still closed above 1.5323
yesterday was good, today is the best, tomorrow is amazing.....
  • #251,388
  • Sep 7, 2010 7:08am Sep 7, 2010 7:08am
Quoting cloggie
Law of averages, I expect the first just to be a shake out, if I am proven wrong, I'll be the first to jump back in again, for now covered the postition.

Looks like we have another day driven by the equities, lots of covering of last weeks' rally. Both Dow and SnP futures are finding some support here, this could well be positioning for a further drop on the NY open. es below 1100. Oil continues to drop too on the back of inventory numbers last week, the start of huricane season is not a good time to short it though, but the US may drop inventories...
Hey Cloggie,

Hope you don't mind a quick question please....

When stocks sell off, is there any particular factor that determines whether the money flows into gold/silver or into safe haven currencies like USD/JPY/CHF?

I noticed gold and silver followed stocks down today but Yen seemed to stengthen so I guess that's where the money ended up?

Thanks



Thanks
  • #251,389
  • Sep 7, 2010 7:13am Sep 7, 2010 7:13am
Quoting Sutts
Hey Cloggie,

Hope you don't mind a quick question please....

When stocks sell off, is there any particular factor that determines whether the money flows into gold/silver or into safe haven currencies like USD/JPY/CHF?

I noticed gold and silver followed stocks down today but Yen seemed to stengthen so I guess that's where the money ended up?

Thanks



Thanks

UJ is a different story, pretty much a no brainer with yields dropping on the T-bills, cheap money in the US to borrow for a carry trade on Yen, that has been the case since April and is not going to change unless BOJ starts printing money, money supply figures today from the BOJ and the press conference could shed some light on that.

The covering of last weeks rally, if it continues past the open will see money flowing back in the dollar and cable weakening further, looks to me like a risk averse day is playing out here, with oil and equities dropping, gold itself may just be on a technical correction, as long as it stays flat for the day it won't have much of a bearing on risk aversion when it comes to the dollar, and that is what really interests us as day traders.
  • #251,390
  • Sep 7, 2010 7:15am Sep 7, 2010 7:15am
Quoting GlobalMacro
again...in n down or up n out...?
Makes no difference to me which way she goes.......... Still make a profit
Correlation is all I care about
  • #251,391
  • Sep 7, 2010 7:15am Sep 7, 2010 7:15am
Quoting cloggie
UJ is a different story, pretty much a no brainer with yields dropping on the T-bills, cheap money in the US to borrow for a carry trade on Yen, that has been the case since April and is not going to change unless BOJ starts printing money, money supply figures today from the BOJ and the press conference could shed some light on that.

The covering of last weeks rally, if it continues past the open will see money flowing back in the dollar and cable weakening further, looks to me like a risk averse day is playing out here, with oil and equities...
Thanks for that
  • #251,392
  • Sep 7, 2010 7:17am Sep 7, 2010 7:17am
Quoting Sutts
Thanks for that

For what it is worth, all about 2 pennies, I am flat awaiting the open to see if any meaningful range gets formed and how the PA interacts accordingly. All equity futures in the US are down right now and oil remains well below the pivot since start of the day.

Any range to form on the open, would suit me fine, but I am still eyeballing 5312 for a further move down. 5312 giving up opens the way to 5264. A good close below 5312 would see last week's low giving way too, which also takes care of last month's low and would set a new intermediate trend for the week that would worry nAvin to no avail....

I don't see many longs this week, other then the retraces.

As to gold and the technical there, it may well become step 2 in risk aversion this week, Thurs-Fri should make that a bit clearer. I just know the big pension funds and mutuals are shaking in their boots, they need a DOW of 15,000+ and with the risk aversion flight by the retailers over there, see ICI report, they singlehandedly trying to keep the DOW up.

M30 closing below 5312 will do just fine for me.
  • #251,393
  • Sep 7, 2010 7:26am Sep 7, 2010 7:26am
Quoting AdrianHNV
Makes no difference to me which way she goes.......... Still make a profit
Correlation is all I care about
if it doesn't make any difference to you which way she goes then it means you're not trading at all...sitting on the sidelines...
Hear the music before the song is over ...
  • #251,394
  • Sep 7, 2010 7:28am Sep 7, 2010 7:28am
Quoting bbmac
All the breakout players in short yet?...decisive break or stop run at the lows ??...what about a pullback to congestion and 2nd b/o ??...will this shake out the weaker b/o and other shorters ??...38.2% 4229-5997 remains intact....below here next significant downside fib is the 76.4% 4944-5995 @ 5195 area. although 61.8% 4870-5997 is @ 5301.

G/L
i go short already 1.5311, tp 1.5281
yesterday was good, today is the best, tomorrow is amazing.....
  • #251,395
  • Sep 7, 2010 7:30am Sep 7, 2010 7:30am
Sometimes it's good to trade with only SL but no TP
I ain't gonna trade GU again today until I get a daily close price. It's made my day
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #251,396
  • Sep 7, 2010 7:30am Sep 7, 2010 7:30am
Quoting GlobalMacro
LOL...
yo b...she better goes down alright...we need to get beer money dawg...
The smell of MONEY TM

or

The smell of BEER TM

Dilemma
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #251,397
  • Sep 7, 2010 7:32am Sep 7, 2010 7:32am
Quoting Bull_Bear
The smell of MONEY TM

or

The smell of BEER TM

Dilemma
tbh...I like the smell of both...the latter one real real cold tho...
Hear the music before the song is over ...
  • #251,398
  • Sep 7, 2010 7:34am Sep 7, 2010 7:34am
we got some very good action on the downside, i was hoping to see 1.5295 as this is my 1st target, look like she don't wanna break 1.5300 ATM.
  • #251,399
  • Sep 7, 2010 7:34am Sep 7, 2010 7:34am
Quoting danielabas
i go short already 1.5311, tp 1.5281
Maybe you need a good insurance cover for your a$$
Just think about it. I hate to trade an apparent good price
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #251,400
  • Sep 7, 2010 7:35am Sep 7, 2010 7:35am
Quoting Bull_Bear
The smell of MONEY TM

or

The smell of BEER TM

Dilemma
i prefer the smell of money, i tried the smell of beer while trading and the results wasn't good
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