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Cable Update (GBPUSD)

  • #251,661
  • Sep 8, 2010 12:03pm Sep 8, 2010 12:03pm
Quoting pawpaw1000
Jip, agreed... But that is just because the spotlight is on EZ now because of the sovereign debt problems...

If we looked at the US in similar light you would see that there are already 12 states either bankrupt or gonna be soon!

THAT IS SCARY! I think the best is just to follow the crowd, no use talking about dollar problems here if no one out there is doing it. 1st things 1st, EZ is in BEEG trouble...

M15 looks like we are on our way down now but don't wanna talk too quickly! Fibre we have H1 bear engulfing with tweezer tops but this H1...

There is a big difference in the US, all states, except Vermont I think have a balanced budget constitution, unlike the EU members. And the big problem in the EU is no common fiscal policy.
  • #251,662
  • Sep 8, 2010 12:04pm Sep 8, 2010 12:04pm
Quoting Fudomyo
another chart for good measure.

have a good holiday bro!
nice one, that's 4 of us now looking at the same level from a different vantage point, which is always useful

I definitely will brother, have a good one
Thank You
  • #251,663
  • Sep 8, 2010 12:07pm Sep 8, 2010 12:07pm
Quoting pawpaw1000
THAT IS SCARY! I think the best is just to follow the crowd, no use talking about dollar problems here if no one out there is doing it.
hehe
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Thank You
  • #251,664
  • Sep 8, 2010 12:23pm Sep 8, 2010 12:23pm
Pretty much one -way traffic today , the bounce from the long term 382 from yesterday may have opened up the top of 7 day range. I will wait for confirmation rather than speculation

Could be an interesting day tomorrow.

GL
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" Never let the past hold the future to ransom "
  • #251,665
  • Sep 8, 2010 12:30pm Sep 8, 2010 12:30pm
[quote=Gleneagles;4008496]Pretty much one -way traffic today , the bounce from the long term 382 from yesterday may have opened up the top of 7 day range. I will wait for confirmation rather than speculation

Could be an interesting day tomorrow.

Yesss! Thankyou sir..
All systems of divination, like music itself,work through patterns.
  • #251,666
  • Sep 8, 2010 12:37pm Sep 8, 2010 12:37pm
Quoting Fudomyo
sorry, was afk.

broco only has common indexes.

here's the charts for December 2010 and March 2011.
Ok...thanks Fudomyo...
I am looking for a MT4 platform with live bund futures feed tho ...
Hear the music before the song is over ...
  • #251,667
  • Sep 8, 2010 12:40pm Sep 8, 2010 12:40pm
Quoting Nene
Sometimes it makes sense to watch the Cad, especially on Cad news days. Sometimes it can be the difference and pull you thru that top or push on thru that bottom. Some signs of Correlation looking good and we are setting long on E/U and G/U.
the rally on E/U is not as strong as on G/U tho which actually makes sense considering the EUR downtrend so far...
Hear the music before the song is over ...
  • #251,668
  • Sep 8, 2010 12:54pm Sep 8, 2010 12:54pm
Not into trading patterns but this could probably qualify as a H & S formation?
The low of the " head" formed on a long term 382.
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" Never let the past hold the future to ransom "
  • #251,669
  • Sep 8, 2010 12:57pm Sep 8, 2010 12:57pm
Quoting GlobalMacro
Ok...thanks Fudomyo...
I am looking for a MT4 platform with live bund futures feed tho ...
You probably won't have much luck finding them on MT4. I have them on TradeStation, but if you're looking for a free charting solution, the MBT Navigator charts may have them if you sign up for a Futures trading demo account.
  • #251,670
  • Sep 8, 2010 1:06pm Sep 8, 2010 1:06pm
Most "noobie" posters here today underestimate what it takes to reverse a rally and keep jumping on the first M5 bearbar they see.[/quote]

Cloggie: hope u not talking about me cause im already 35 pips up from 5525 and broken even already, so if I get stopped it wont bother me but if it continues falling then, just like yesterday when I went long I will be having the last laugh, for free

I see what u mean though, lots of people were shorting around 5450, im not sure why...

happy pips
  • #251,671
  • Sep 8, 2010 1:07pm Sep 8, 2010 1:07pm
Quoting cloggie
Today has been a good correlation and money flow trade, we have slightly weaker dollar due to a rally in the equities, but the real driver is heavy buying in Yen crosses on rumours of intervention that is dragging the rest with it, couple that with a bit of minor good news from the UK today and you can clearly see where the dollar weakness, yen, chf and gbp strength is coming from.

Selecting possible tops would need confirmation from the crosses before I would short anything in the foreseeable future (intraday) here.

You can put any MA, TL or...
i'm learning so much from you cloggie.honestly,i'm not good enough putting all together between news,fundamental issue and technical.all i do is just watching at the chart, and i usually trade on GBP news, and avoid trading on US news because sometimes affect GU,sometimes not.may be you could teach me how to corellate between news on another pair which influences GU??thank you.
yesterday was good, today is the best, tomorrow is amazing.....
  • #251,672
  • Sep 8, 2010 1:11pm Sep 8, 2010 1:11pm
Quoting Gleneagles
Not into trading patterns but this could probably qualify as a H & S formation?
The low of the " head" formed on a long term 382.
Reverse formation and a little squew whiff but certainly took off at the previous resistance of 15493.(the shoulders) Thanks ,another "tool in the box",havnt been too careful of patterns B4 .Knew something was happening today but cos of lack of experience couldnt explain it even to myself
All systems of divination, like music itself,work through patterns.
  • #251,673
  • Sep 8, 2010 1:13pm Sep 8, 2010 1:13pm
Quoting Fudomyo
You probably won't have much luck finding them on MT4. I have them on TradeStation, but if you're looking for a free charting solution, the MBT Navigator charts may have them if you sign up for a Futures trading demo account.
tradestation used to support 3rd party data feeds...do you use their own feed?
Hear the music before the song is over ...
  • #251,674
  • Sep 8, 2010 1:20pm Sep 8, 2010 1:20pm
id like to apologize to everyone today for being a dumbass, i clearly missed a few dojis on the 15min chart yday which would have signalled long on cable at 1.53...hence me being caught with my pants down with cable today, nothing like a loss to kick me in the balls and make me learn to read charts properly...
  • #251,675
  • Sep 8, 2010 1:29pm Sep 8, 2010 1:29pm
so the 38.2% fib of 1.53-1.5531 is at 1.5450, but why would cable bounce there and not lower at say 50% fib level? the daily still seems likes it in a bearish channel, so why is there reason for cable to bounce above to 1.5550 or even 1.56
  • #251,676
  • Sep 8, 2010 1:33pm Sep 8, 2010 1:33pm
Quoting GlobalMacro
tradestation used to support 3rd party data feeds...do you use their own feed?
I use the TS RealTime feed, but you can use 3rd party as well. I don't remember the breakout for price exactly because I have a few things bundled, but the CBOT full access is about $60 USD a month.
  • #251,677
  • Sep 8, 2010 1:37pm Sep 8, 2010 1:37pm
Quoting monkey@forex
so the 38.2% fib of 1.53-1.5531 is at 1.5450, but why would cable bounce there and not lower at say 50% fib level? the daily still seems likes it in a bearish channel, so why is there reason for cable to bounce above to 1.5550 or even 1.56
I was looking at this swing.
PA stalled at 382 and formed a possible reversal pattern, I don`t trade patterns but look at key levels for possible S & R.
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" Never let the past hold the future to ransom "
  • #251,678
  • Sep 8, 2010 1:44pm Sep 8, 2010 1:44pm
thats what baffles me is that cable is not dropping, the UK isn't exactly a rosy picture, poor data lately, im a newbie but surely with dollar looking dire, europe looking shady, why hasnt money shifted into commodities, y is cable hanging on when yield is low and growth prospects look better for mini-me than for the UK?
  • #251,679
  • Sep 8, 2010 2:00pm Sep 8, 2010 2:00pm
Quoting HiCS
Went for an EARLY SHORT at 5525; expecting DIX strength as it found support
Good idea, kid
******************* I'd rather make money than be right.
  • #251,680
  • Sep 8, 2010 2:07pm Sep 8, 2010 2:07pm
Quoting monkey@forex
thats what baffles me is that cable is not dropping, the UK isn't exactly a rosy picture, poor data lately, im a newbie but surely with dollar looking dire, europe looking shady, why hasnt money shifted into commodities, y is cable hanging on when yield is low and growth prospects look better for mini-me than for the UK?
Ask 6 traders and you will get 7 different opinions , ask 6 economists/strategists/bankers etc and you will get 17 different opinions

Maybe Cable will be the new safe haven currency after the collapse of the USD and the Euro...that will be on October 16 ,2017 BTW, after the 3rd revaluation of Chinese $ that replaced both the Yen and the USD in 2014
" Never let the past hold the future to ransom "
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