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Cable Update (GBPUSD)

  • #251,441
  • Edited 9:43am Sep 7, 2010 9:30am | Edited 9:43am
CAT is the biggest faller on the DOW, that is not a good indication for risk appetite today.

Obamarama talking about a 50Bn new stimulus plan for roads and the biggest manufacturer of construction equipment dropping like a rock? Guess what the market is thinking?

800 Bn bought 20 jobs, so is it fair to say that 50Bn will just buy a new driveway for the white house? I can think of a few Pikey's that will do it for a a few Benjamins.
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  • #251,442
  • Sep 7, 2010 9:44am Sep 7, 2010 9:44am
gbpjpy will drop 200 to 300pips 127/125 still so gbpusd ithink about 1.51/1.499....just a guess.....happy trade, but gbpusd may turn resilient soon.1.5260/80 area is good to long if we see some basing there.
A little beginner trader since 2006
  • #251,443
  • Sep 7, 2010 9:44am Sep 7, 2010 9:44am
Tweezers on the 15, we got a bit more consolidating to do here.
  • #251,444
  • Sep 7, 2010 9:45am Sep 7, 2010 9:45am
Quoting cloggie
For those who like their history, have a look at UJ, 15-year low. No bounce in 10 yr yields, this one is not going to last.
UJ 79.67 on April 1st,1995.

wow.. could be the next stop ?
  • #251,445
  • Sep 7, 2010 9:45am Sep 7, 2010 9:45am
Quoting cloggie
With Crayon, I mean draw big fat ones, they are areas of support not just a thin line, especially on the higher TF's, it keeps you from jumping on the first sucker bar that is just a test. Drawing areas also forces you to look at the PA a bit closer to see if they are going to hold or not and it will keep you from picking a bottom that does not exist.
Will get up earlier tomorrow to spend more time on drawing before LO. Have to go to work now. Good Luck everyone
All systems of divination, like music itself,work through patterns.
  • #251,446
  • Sep 7, 2010 9:46am Sep 7, 2010 9:46am
http://www.forexfactory.com/attachme...2&d=1283612503
Quoting gsantri
UJ 79.67 on April 1st,1995.

wow.. could be the next stop ?

With no bottom in sight on the yields, it could well be. I don't see the BOJ unilaterally doing anything about this. The carry trade of the year.

2.75-2.85 is still the area to watch for those trading uJ, if you don't have a data feed showing yields, put ^tnx (10 yr yields) into yahoo finance and you will get the attached. uJ cannot reverse without yields doing so first.

That's how to use the proper correlation in trading.
  • #251,447
  • Sep 7, 2010 9:55am Sep 7, 2010 9:55am
Quoting cloggie
Tweezers on the 15, we got a bit more consolidating to do here.

We need to see a bearish engulfing to negate the tweezers here. But then we still have 5289-5296 in the way for further shorts. Once that area goes we are looking at 5264.
  • #251,448
  • Sep 7, 2010 10:02am Sep 7, 2010 10:02am
Quoting cloggie


With no bottom in sight on the yields, it could well be. I don't see the BOJ unilaterally doing anything about this. The carry trade of the year.

2.75-2.85 is still the area to watch for those trading uJ, if you don't have a data feed showing yields, put ^tnx (10 yr yields) into yahoo finance and you will get the attached. uJ cannot reverse without yields doing so first.

That's how to use the proper correlation in trading.

Talking about yields, Irish 10 yr over 6 and Greek nudging 12 again, this could well be round 2 of some panick selling in fibre, especially if the risk aversion on the dollar continues.

Greek/German and Irish/German spreads back to where we were earlier in the year when the big sell off started on the euro, the big difference being that Irish/German spreads are larger now then they were the last time.

And some people here still talking about a collapse of the dollar.........,
  • #251,449
  • Sep 7, 2010 10:14am Sep 7, 2010 10:14am
Quoting cloggie
We need to see a bearish engulfing to negate the tweezers here. But then we still have 5289-5296 in the way for further shorts. Once that area goes we are looking at 5264.

We got the engulfing but the top of support is holding in spite of across the board strength in the dollar in the last hour. I am going for a coffee break to see if that breaks the support. Other dollar crosses are definitely ones to trade this afternoon.
  • #251,450
  • Sep 7, 2010 10:20am Sep 7, 2010 10:20am
Quoting cloggie
CAT is the biggest faller on the DOW, that is not a good indication for risk appetite today.

Obamarama talking about a 50Bn new stimulus plan for roads and the biggest manufacturer of construction equipment dropping like a rock? Guess what the market is thinking?

800 Bn bought 20 jobs, so is it fair to say that 50Bn will just buy a new driveway for the white house? I can think of a few Pikey's that will do it for a a few Benjamins.
You are very poetic. I think you might compete with the best if you continue to ride like this in use of language.

If EU continues this slow but steady downward ride, then I doubt that our Lady could survive the ride.

There is always a ride for the player and the game
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #251,451
  • Sep 7, 2010 10:22am Sep 7, 2010 10:22am
Quoting cloggie
Talking about yields, Irish 10 yr over 6 and Greek nudging 12 again, this could well be round 2 of some panick selling in fibre, especially if the risk aversion on the dollar continues.

Greek/German and Irish/German spreads back to where we were earlier in the year when the big sell off started on the euro, the big difference being that Irish/German spreads are larger now then they were the last time.

And some people here still talking about a collapse of the dollar.........,
But that's because there are far more videos on You Tube about the dollar's collapse than the major structural problems facing the periphery countries of the EZ.

Also, the theories backing the collapse of the greenback contain exciting stuff such as the amero, the Illuminati, GS, NWO and 9/11 conspiracies.... Whereas the problems facing the euro contain boring facts such as record bond yields on Irish and Greece euro denominated debt, which threaten to push both countries over the tipping point of solvency.
  • #251,452
  • Sep 7, 2010 10:22am Sep 7, 2010 10:22am
Quoting cloggie
http://www.forexfactory.com/attachme...2&d=1283612503


With no bottom in sight on the yields, it could well be. I don't see the BOJ unilaterally doing anything about this. The carry trade of the year.

2.75-2.85 is still the area to watch for those trading uJ, if you don't have a data feed showing yields, put ^tnx (10 yr yields) into yahoo finance and you will get the attached. uJ cannot reverse without yields doing so first.

That's how to use the proper correlation in trading.
valuable hints from you as always, thank you.

btw, how many eyes do you have there.. lol
you see more than most of us here i think
  • #251,453
  • Sep 7, 2010 10:22am Sep 7, 2010 10:22am
Quoting cloggie
And some people here still talking about a collapse of the dollar.........,
A lot of the people who believe this don't realize that RT is state sponsored propaganda, or that Schiff is an agenda driven liar. He's famous for fudging the numbers on his failed gold carry trade in the 90's by not accounting for inflation.

It's important to fact check sources for reliability.
  • #251,454
  • Sep 7, 2010 10:25am Sep 7, 2010 10:25am
Quoting Fudomyo
A lot of the people who believe this don't realize that RT is state sponsored propaganda, or that Schiff is an agenda driven liar. He's famous for fudging the numbers on his failed gold carry trade in the 90's by not accounting for inflation. It's important to fact check sources for reliability.
You would say that. "They" have clearly got to you! That's what "they" want you to believe!

Next thing you'll be telling me that Glenn Beck isn't a credible source!
  • #251,455
  • Edited 10:47am Sep 7, 2010 10:32am | Edited 10:47am
Quoting gammase1
You would say that. "They" have clearly got to you! That's what "they" want you to believe!

Next thing you'll be telling me that Glenn Beck isn't a credible source!


...if it's on youtube it must be true.
.
  • #251,456
  • Sep 7, 2010 10:32am Sep 7, 2010 10:32am
Quoting gammase1
But that's because there are far more videos on You Tube about the dollar's collapse than the major structural problems facing the periphery countries of the EZ.

Also, the theories backing the collapse of the greenback contain exciting stuff such as the amero, the Illuminati, GS, NWO and 9/11 conspiracies.... Whereas the problems facing the euro contain boring facts such as record bond yields on Irish and Greece euro denominated debt, which threaten to push both countries over the tipping point of solvency.

Debt to GDP ratios and yield curves is boring stuff and doesn't sell newspapers and advertising.
  • #251,457
  • Sep 7, 2010 10:35am Sep 7, 2010 10:35am
Quoting gsantri
valuable hints from you as always, thank you.

btw, how many eyes do you have there.. lol
you see more than most of us here i think

As a day trader that wants to take this business serious you need to keep an eye on the bigger picture and that includes everything on a macro and micro economic level. Trading currencies takes a lot of information to do it right, and you need eyes in the back of your head.
  • #251,458
  • Sep 7, 2010 10:35am Sep 7, 2010 10:35am
Hi cloggie, 4-hr TF shows MACD diversion and 15 min Tf showing reversal pattern..........is it time to go long
  • #251,459
  • Sep 7, 2010 10:38am Sep 7, 2010 10:38am
Quoting chitindu
Hi cloggie, 4-hr TF shows MACD diversion and 15 min Tf showing reversal pattern..........is it time to go long

I don't use MACD's so I wouldn't know and I don't see any reversal patterns on the 15, we must have a different price feed.
  • #251,460
  • Sep 7, 2010 10:39am Sep 7, 2010 10:39am
Thank you cloggie for your special contribution.

I think we all respect your knowledge, so please don't stop posting........

thanks once again

pipgame
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